The Bangkok Airways Airport Leasehold Real Estate Investment Trust (BAREIT) is set to begin trading on the Stock Exchange of Thailand for the first time on September 14. The trust is confident in the potential of its initial investment in Samui Airport, valued at 14.3 billion baht, highlighting its investment in critical infrastructure for air transport, with an estimated return of 8.09% for unit holders in the first year.

Mr. Putthipong Prasartthong-Osoth, the President of Bangkok Airways Public Company Limited (BA), as the asset owner (Sponsor), stated that the company has over 33 years of experience in developing and managing airports. Currently, it owns and operates three airports: Samui Airport, Sukhothai Airport, and Trat Airport, all located in areas with significant tourism potential and convenient travel access. Additionally, BA operates Bangkok Airways, which offers scheduled flights domestically and regionally, covering popular tourist destinations in Thailand such as Koh Samui, Phuket, Chiang Mai, Sukhothai, Trat, Lampang, and Hat Yai, as well as regional routes to destinations like Phnom Penh, Siem Reap, Yangon, Da Nang, the Maldives, Singapore, and Hong Kong.

Moreover, the company collaborates with other airlines through code-sharing agreements and other partnerships, expanding its services to customers in Europe, Asia, and the Middle East. Currently, the tourism business is showing signs of recovery, with a steady flow of domestic tourists and international travelers using Bangkok Airways services from regions such as Europe, Cambodia, and Malaysia. Various airlines are gradually increasing flights to Thailand, leading to confidence that tourism in the latter half of 2022 will recover by 40-50% and return to normal by 2024. In the first half of 2022, Samui Airport served over 500,000 passengers, and the number of tourists is expected to continue to rise.

"BA would like to thank investors for their overwhelming confidence and response to the BAREIT trust unit offering. Despite the impact of COVID-19 on BA's business, the reopening of Thailand to international travel has led to a continuous influx of foreign tourists. In the first six months of 2022, there were over 6,100 flights and more than 500,000 passengers at Samui Airport, which is a positive sign for the confidence in the operation of the BAREIT trust," Mr. Putthipong stated.

Ms. Lilapat Lilaewanich, Managing Director of Bangkok REIT Management Co., Ltd., as the trust manager, announced that the trust units are set to be traded for the first time on the Stock Exchange of Thailand on September 14, under the ticker symbol 'BAREIT'. The initial response from investors has been very positive, with demand exceeding the number of trust units offered during the subscription period from August 22-26.

The success of the trust unit offering reinforces investor confidence in the potential of BAREIT, which is the first trust in Thailand to invest in airport business leasehold rights, a critical infrastructure component of the air transport system, and is expected to grow alongside the recovering number of tourists. BAREIT invests in leasehold rights for the operation of Samui Airport, including runways, parking areas, and some facilities used in airport operations, for a period of 25 years. Given the strategic location of Samui Airport as a key tourism gateway to Thailand, the trust is expected to benefit from the recovering tourism industry.

Mr. Sawit Srisa-aranpong, Executive of the Investment Banking Group at Kasikorn Bank Public Company Limited, as the financial advisor and underwriter, stated that the highlights of BAREIT include: 1) it is a trust that provides stable investment returns over a 25-year period, 2) Koh Samui is a globally popular travel destination, 3) investment growth alongside the tourism industry, one of Thailand's key sectors, and 4) the strong business operations and financial position of Bangkok Airways Public Company Limited. All these factors make BAREIT an attractive investment option for those seeking stable and consistent returns.

BAREIT has a policy to distribute benefits to unit holders up to four times per fiscal year, at a rate of no less than 90% of the adjusted net profit, with an estimated return rate of approximately 8.09% per year for the first year (based on the estimated benefit distribution rate for the period from August 1, 2022, to July 31, 2023, as shown in the prospectus). Additionally, BAREIT is managed by Bangkok REIT Management Co., Ltd., a subsidiary of BA, which has over 30 years of experience managing Samui Airport, ensuring the ability to provide good and consistent returns in the long term.