The WHA Industrial Leasehold Property Fund ("WHAIR Trust") is moving forward with its fourth round of additional investments, with a total value not exceeding 1,345.89 million baht. This will increase the leased area under management to 428,818 square meters, raising the total asset value to 13 billion baht. The fund emphasizes the potential of assets located in the EEC area, which accounts for over 90% of its portfolio, offering an estimated dividend yield of 8.67%.

Ms. Jareeporn Jarukornsakul, Chairperson of the Board and CEO of WHA Corporation Public Company Limited (WHA Group), revealed that all assets of the WHAIR Trust are located in industrial estates and development zones managed by WHA Group, a leader in industrial estate development with comprehensive utility and energy solutions in Thailand.

More than 90% of the WHAIR Trust's Ready Built Factories and Ready Built Warehouses are situated in the Eastern Economic Corridor (EEC), specifically in Rayong and Chonburi provinces, which are strategic investment locations in Thailand. The EEC is a government-supported industrial economic zone attracting foreign investment across new S-curve industries that represent the future of Thailand. It is acknowledged that the EEC has high investment potential, aligning with investment goals in the area, which is expected to see economic growth of 7-9% from 2023 to 2027, driven by investments in target industries such as modern automotive, digital and electronics, medical and health, and logistics.

As the number one industrial estate operator, WHA Group has a total area of 68,400 rai, with 4,250 rai awaiting development. It manages 285 completed factories covering a total area of 529,700 square meters and 43 completed warehouses covering 197,000 square meters. Therefore, the assets sold by WHAID to the WHAIR Trust in this fourth round stand out due to their high potential locations, which can attract both Thai and foreign investors, given their strategic investment significance. This reinforces the belief that the WHAIR Trust presents a solid investment opportunity in the EEC zone, aimed at providing stable returns for investors.

Ms. Jaruchada Satimanont, Managing Director of WHA Industrial REIT Management Co., Ltd., as the manager of the WHAIR Trust, stated that this additional investment involves leasing rights for Ready Built Factories and Ready Built Warehouses for a period of 30 years, with an option to extend the lease for another 30 years, covering a total of 14 buildings from 7 projects, with a total area of 48,186 square meters, amounting to no more than 1,345.89 million baht. These assets come from three companies under the WHA Group, the leading industrial estate developer in Thailand, including:

1.) WHA Eastern Seaboard Industrial Estate Co., Ltd. - 1 Ready Built Factory and 3 Ready Built Warehouses within the WHA Eastern Seaboard 1 (WHA ESIE 1) and WHA Logistics Park 2 (WHA LP 2) projects.

2.) WHA Industrial Building Co., Ltd. - 3 Ready Built Factories and 4 Ready Built Warehouses within the Eastern Seaboard Industrial Estate (Rayong) (ESIE), WHA Chonburi 1 (WHA CIE 1), Kabin Hi-Tech Industrial Estate (KABIN), WHA Logistics Park 1 (WHA LP 1), and WHA Logistics Park 4 (WHA LP 4).

3.) Eastern Seaboard Industrial Estate (Rayong) Co., Ltd. - 3 Ready Built Factories within the Eastern Seaboard Industrial Estate (Rayong) (ESIE).

Following this additional investment, the WHAIR Trust will have an increased leased area under management of 428,818 square meters and a total asset value exceeding 13 billion baht.

To guarantee investment in the WHAIR Trust, it recently received the "Outstanding REIT Performance" award at the SET Awards 2022 from the Stock Exchange of Thailand (SET), reflecting the trust's past performance that has remained outstanding and sustainable despite the economic and industrial conditions during the COVID-19 pandemic. This reinforces that the WHAIR Trust is a suitable choice for investment with good returns and stable growth opportunities in the future, aligned with the EEC theme.

Mr. Sawit Srisaranpong, Executive of the Investment Banking Group at Kasikorn Bank Public Company Limited, as the financial advisor and distributor of WHAIR Trust units, stated that the WHAIR Trust's additional investment stands out due to its strategic location in the EEC (Chonburi and Rayong provinces) and the Kabin Hi-Tech Industrial Estate (Prachinburi province), which are among the most important centers for leasing factories and warehouses in the country. The Eastern Seaboard area serves as a hub connecting production bases and transportation for goods via land (Bangna-Chonburi Expressway, Motorway, and Phahonyothin Road), air (Suvarnabhumi International Airport, Don Mueang International Airport, and U-Tapao International Airport), and water (Laem Chabang Port and Bangkok Port). Meanwhile, the Kabin Hi-Tech Industrial Estate is located in Prachinburi province and serves as a transportation hub close to Bangkok, facilitating access to Laem Chabang Port and Suvarnabhumi Airport, which are gateways to the Northeast, and connecting to new investment areas in the Indochina region, both of which show promising economic growth trends.

"Based on past performance, the WHAIR Trust has maintained an average occupancy rate of around 90% even during the COVID-19 pandemic. This additional investment will further strengthen the WHAIR Trust. The estimated distribution benefit after this additional investment is projected at 0.64 baht per unit, based on the profit and loss statement and distribution benefits under hypothetical scenarios for the year from January 1, 2023, to December 31, 2023, audited by accountants, translating to an estimated dividend yield of up to 8.67% (calculated from the weighted average closing price of the trust units from September 12, 2022, to September 30, 2022, at 7.38 baht per unit. The yield depends on the offering price of additional trust units)."