Bangkok, 27 November 2023

Frasers Property Industrial REIT Management (Thailand) Company Limited or “FIRM”, as the manager of FTREIT, disclosed that the Office of the Securities and Exchange Commission (SEC) has granted approval for FIRM to issue additional trust units for the fourth capital increase of FTREIT. The total number of additional trust units issued will not exceed 220,000,000 units, worth more than two billion baht, by means of a General Mandate, and will be offered to existing trust unitholders. FIRM will utilise the capital received from the sale of the additional trust units for the purpose of repaying borrowings for the investment in the additional assets of FTREIT prior to obtaining the proceeds from the capital increase and to repay loans used for the redemption of matured debentures. This is to maintain the appropriate ratio of FTREIT’s interest-bearing debt to total asset value.

The maximum offering price will not exceed THB 10.00 per trust unit with 1:0.0718 ratio between existing trust unit and the new trust units, respectively. In this regard, the final offering price will be further announced by the REIT Manager by 8 December 2023 through the Stock Exchange of Thailand (SET)’s website. Subscribers of the trust units will only make payment for the subscription at the final offering price.

Subscriptions can be made from 16-22 December 2023, only at Siam Commercial Bank’s branches nationwide during their operating hours. Subscribers can download the subscription form at www.ftreit.co.th. Online subscriptions will be available on SCB Easy App from 16-17 December 2023.

Mr. Thanarat Boonyakosol, Managing Director of FIRM, said: “This capital increase to repay borrowings utilised for the investment in additional assets will reduce FTRET’s interest-bearing debts in a rising interest rate environment, while preparing for opportunities to invest in additional potential assets according to our operating plan. Moreover, this transaction will increase liquidity of FTREIT’s units traded on the Stock Exchange of Thailand and reinforce the confidence of domestic and international investors.”