No. RMG 49/2026
						14 July 2026

Subject:	Royal Orchid Hotel (Thailand) Public Company Limited Fails to Buy Back 
the Property in Accordance with the Sale and Purchase Agreement
To:	The President The Stock Exchange of Thailand

One Asset Management Limited, ("ONEAM") in the capacity as the REIT Manager of 
the Grande Royal Orchid Hospitality Real Estate Investment Trust with Buy-Back
Condition (the "GROREIT"), which invested in the property of Royal Orchid
Sheraton Hotel and Towers Project (the "Property") by acquiring such Property
from Royal Orchid Hotel (Thailand) Public Company Limited ("ROH"), as the
previous owner. Following the acquisition, ROH leased the Property back from the
GROREIT for the operation of the hotel business. In this regard, under the
Asset Sale and Purchase Agreement of Immovable and Movable Property (Royal
Orchid Sheraton Hotel and Towers Project) (the "SPA"), ROH is obligated to
buy-back the Property upon the expiry of the fifth lease year (by 14 July 2026)
at the agreed purchase price of THB 4,873 million (exclusive of VAT). If ROH
buy-backs the Property, the GROREIT will use the proceeds to repay its
outstanding loan under the loan agreement, distribute the remaining proceeds to
the unitholders, and dissolute the GROREIT in accordance with the applicable
regulations of the Office of the Securities and Exchange Commission. ("SEC")

ONEAM hereby informs that, on 14 July 2026, being the due date for performance 
under the SPA, ROH failed to buy-back and take transfer of ownership of the
Property at the relevant Land Office as required under the SPA. Therefore, ONEAM
has notified the MFC Asset Management Public Company Limited ("MFC") in their
capacity as the trustee of the GROREIT. On 15 July 2026, MFC in will proceed
with the following actions, which can be summarized as follows:

1.	Issue a notice to ROH informing it of its failure to buy-back the Property 
within the prescribed period and the expiry of the lease term, and requiring ROH
to comply with its obligations under the Asset Sale and Purchase Agreement and
the Lease Agreement of Immovable and Movable Property (Royal Orchid Sheraton
Hotel and Towers Project), by cooperating with the representatives of the REIT
Manager and/or the trustee, and otherwise complying with all relevant agreements
 and arrangements, within 30 days from the date of the notice.

2.	Issue a notice to Starwood Hotel & Resorts Worldwide, Inc. ("Starwood") 
informing it of the expiry of ROH's lease of the Property. MFC, in it capacity
as the trustee of the GROREIT, will engage Starwood to act as the interim hotel
manager in place of ROH, the current contracting party, in order to ensure the
uninterrupted operation of the hotel.

3.	Issue a notice to the Government Savings Bank requesting an extension of the 
loan repayment period, waivers of certain covenant requirements, and the Bank's
consent in respect of the financing arrangements, as ROH has failed to buy-back
the Property within the period and in accordance with the prescribed terms and
conditions.

In addition, ONEAM in the capacity as the REIT Manager of GROREIT and MFC in 
their capacity as the trustee of the GROREIT will consider the course of action
to be taken in relation to the Property in order to maximize the benefit to the
GROREIT and its unitholders and will notify the unitholders accordingly.

Please be informed accordingly.

Yours sincerely,
-Alongkorn Prathanrasnikorn-
(Mr. Alongkorn Prathanrasnikorn)
Chief Property and Trust Officer
One Asset Management Limited
______________________________________________________________________

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