Featuring world-class branded assets in irreplaceable locations, a projected distribution yield of 5.44%–6.51% in 2027 and a projected total return of 13.39%–14.91% in 2027 with fully freehold ownership. Backed by 11 leading Thai and global financial institutions, including BofA Securities, Morgan Stanley, DBS, Mizuho, Siam Commercial Bank, Kasikornbank, Bangkok Bank, Krung Thai Bank, Bank of Ayudhya, TMBThanachart Bank, and UOB, Together, they provide access to domestic and international investor networks in preparation for investment in AWR, the largest REIT IPO in Thailand.

• Stable Returns: Own the Assets, Not the Leasehold Rights
  100% freehold portfolio comprising five assets: The Empire and four hotels under the globally recognized brands Banyan Tree, Meliá, and Marriott. Initial investment value of up to THB 51.388 billion, providing a stable and growing income base, with a projected distribution yield of 5.44%–6.51% in 2027.
• Continuous Growth: Future Acquisition Rights to High-Quality AWC Assets
  Evergreen ROFR rights over nine high-quality projects totaling approximately 3,100 keys, supported by a conservative initial leverage ratio of only 20%, creating significant capacity for future portfolio expansion.
• Long-Term Value Creation: Freehold Ownership with International Governance Standards
  Opportunity to benefit from long-term appreciation in land and asset values through perpetual freehold ownership, with a projected total return of 13.39%–14.91% in 2027. Supported by an international-standard governance structure, including 60% independent directors and Golden Share protection mechanisms designed to safeguard unitholders' interests and ensure transparency.
• Thailand's Largest REIT IPO Backed by 11 Leading Domestic and Global Financial Institutions
  Including BofA Securities, Morgan Stanley, DBS, Mizuho, Siam Commercial Bank, Kasikornbank, Bangkok Bank, Krung Thai Bank, Bank of Ayudhya, TMBThanachart Bank, and UOB, providing access to high-quality domestic and international investor networks.

Bangkok, 31 October 2026 - Asset World Corp Public Company Limited (AWC), Thailand's leading integrated lifestyle real estate group, has unveiled the strategic vision for AWC Lifestyle Property REIT (AWR), aiming to establish it as one of Asia's leading high-quality REITs and Thailand's largest high-quality freehold REIT.

AWR is designed to serve as a premier investment vehicle for both Thai and international investors, while contributing to the advancement of Thailand's REIT industry, strengthening the country's real estate sector, and deepening the development of the Thai capital market.

Sustainable Growth Platform: AWC's Fully Integrated Model for Sustainable Growth

AWR serves as a key pillar of AWC's Sustainable Growth Platform, connecting Thailand's business and tourism destination development potential with long-term value creation and sustainable returns for investors.

Under this model, AWC acts as the Development Engine, creating value through asset development, repositioning, operational enhancement, and growth optimization, enabling assets to reach their full potential and generate strong recurring cash flows.

Once stabilized, these assets may be transferred to AWR, which serves as a long-term owner of high-quality income-generating properties with strong prospects for future value appreciation.

The complementary roles of AWC and AWR create a continuous value creation platform, spanning asset development, enhancement, appreciation, and the delivery of stable and sustainable returns for investors over the long term.

AWR Stands Out Among Leading Asian REITs

Compared with leading REITs across Singapore, Japan, Malaysia, India, and the Philippines, AWR distinguishes itself through its unique combination of 100% freehold ownership and an Evergreen ROFR over future high-quality AWC assets, providing a strong platform for long-term growth. In addition, AWR's initial leverage ratio of only 20%, which is lower than that of many regional peers, reflects the strength of its balance sheet and provides greater financial flexibility to support future growth opportunities.

Backed by 11 Leading Domestic and Global Financial Institutions

BofA Securities, Morgan Stanley, DBS, Mizuho, Siam Commercial Bank, Kasikornbank, Bangkok Bank, Krung Thai Bank, Bank of Ayudhya, TMBThanachart Bank, and UOB have joined forces to provide access to investor networks across Thailand and international markets, supporting preparations for investment in AWR, the largest REIT IPO in Thailand. Together, they bring the collective strength of leading financial institutions to introduce AWR, a top-quality regional REIT, to investors worldwide, while fostering the sustainable growth of Thailand's capital markets and real estate industry.

5 Unique Investment Opportunities of AWR

1. Own 100% Freehold World-Class Assets in Irreplaceable Locations with a projected distribution yield of 5.44%–6.51% in 2027, Delivering Stable and Growing Income

Starting with The Empire, Thailand's largest lifestyle commercial property, located in one of the country's most sought-after business destinations, the asset is further differentiated by lifestyle concepts that create unique experiences and strengthen its long-term growth potential, including EA Rooftop at The Empire, one of Thailand's largest and highest food and beverage destinations; EA Wellness Club, designed to serve the rapidly growing premium wellness segment; and Thailand's first and only integrated Co-Living concept that seamlessly connects work and lifestyle.

The Empire also benefits from the strength of AWC's nationwide ecosystem, providing tenants with enhanced experiences and value-added privileges, including access to AWC's hotels and resorts across Thailand.

Ultra-Luxury Wellness Destinations: Banyan Tree Samui Hotel and Banyan Tree Krabi offer exceptional wellness resort experiences in some of Thailand's most distinctive and sought-after locations. Set amidst dramatic natural landscapes, from lush hillsides to expansive private beachfronts, both resorts provide immersive stays featuring accommodations with panoramic sea views and comprehensive wellness offerings. Guests can enjoy signature hydrotherapy spa experiences and curated wellness programs that reflect the renowned Banyan Tree brand, making both properties premier wellness destinations in Thailand.

Friends & Families Luxury Destinations: Meliá Koh Samui and Pattaya Marriott Resort & Spa cater to families and groups of friends with distinctive luxury resort experiences, featuring signature water-based activities alongside exceptional dining experiences in the premier destinations of Koh Samui and Pattaya.

All hotel assets have demonstrated strong operating performance. In the first quarter of 2026, each property achieved Revenue per Available Room (RevPAR) above the average of its respective competitive set, while portfolio EBITDA increased by approximately 20% over the past two years, reflecting the portfolio's strong income-generating capability and sustained growth trajectory.

2. Accelerated Growth Through Rights to Invest in Additional High-Quality AWC Assets

AWR has been granted an Evergreen Right of First Refusal (ROFR) to invest in nine curated high-end and ultra-luxury hospitality assets from AWC, representing approximately 3,100 rooms. If fully exercised, these rights could expand AWR's portfolio to approximately 3,747 rooms, while providing a continuous pathway to future high-quality assets from AWC. Supported by a conservative starting leverage ratio of only 20%, AWR also retains significant debt capacity to pursue future acquisitions with flexibility and discipline.

3. Long-Term Value Creation Through Perpetual Freehold Ownership, Delivering a projected total return of 13.39%–14.91% in 2027

All five assets are held under 100% freehold ownership, allowing investors to participate fully in the underlying value of the properties without exposure to lease expiry risk. This structure provides the opportunity to benefit from the potential long-term appreciation of both land and asset values.

Such value appreciation can support growth in Net Asset Value (NAV) and enhance borrowing capacity to facilitate future acquisitions. AWR projects a total return of 13.39%–14.91% in 2027, offering investors the potential for long-term value creation alongside sustainable growth in asset value and investment returns.

4. International-Standard Governance Framework Protecting Investors' Interests Through Transparency, Confidence and Sustainable Value Creation

AWR has established an international-standard governance framework designed to promote transparency, safeguard unitholders' interests, and strengthen investor confidence through governance mechanisms aligned with long-term value creation and sustainable returns. Key elements include:

• 60% Independent Directors, Appointed with Trustee Involvement
• Golden Share and Approval Rights over Key Master Lessee Matters
• Performance-Linked Fee Structure Based on DPU Growth
• Four Dedicated Board Committees for Governance, Risk, Strategy and Compliance

5. Strong Trading Liquidity Through Thailand's Largest Freehold REIT IPO

AWR is expected to be the largest REIT IPO in Thailand's history. With an estimated free float of approximately 72%, representing around THB 31.1 billion, AWR is positioned to offer strong trading liquidity in the secondary market. In addition, AWC will retain up to 28% ownership, aligning its long-term interests with those of unitholders.

Top Sustainable Real Estate Assets

Assets within AWR's portfolio have received recognition from leading international institutions and award platforms, reflecting excellence in asset management, sustainability standards, and long-term value creation.

The Empire became the first building in Thailand to achieve WELL Core Platinum certification, alongside LEED Gold and Fitwel 2-Star certifications (2026). Meanwhile, Banyan Tree Samui has attained EarthCheck Platinum certification and was ranked No. 3 Best Resort in Thailand by Condé Nast Traveler (2024).

Meliá Koh Samui received the Best Luxury Beach Resort award from the World Luxury Hotel Awards, while both Banyan Tree Krabi and Banyan Tree Samui were awarded Two MICHELIN Keys, recognizing their exceptional hospitality experiences and world-class standards.

In addition, AWR benefits from AWC's strong sustainability foundation. AWC has earned the highest ESG ratings from leading institutions, including an AAA rating from the SET ESG Ratings, an AAA rating from MSCI ESG Ratings, and recognition in the Top 1% of the S&P Global Corporate Sustainability Assessment (CSA) 2026. These achievements reflect business practices aligned with globally recognized sustainable investment principles and standards. AWR may also be eligible for inclusion in leading global sustainability and real estate indices, such as FTSE EPRA Nareit, potentially expanding access to institutional investors and sustainability-focused investment funds in the future.

Ms. Wallapa Traisorat, Chief Executive Officer and President of Asset World Corp Public Company Limited (AWC), stated:

“AWC is committed to driving sustainable growth for Thailand through a fully Sustainable Growth Platform anchored by a high-quality REIT. Through the establishment of AWR, a top-tier Asian REIT, connects world-class assets with long-term investment opportunities, while offering investors the opportunity to own irreplaceable assets in some of Thailand’s most sought-after locations. while contributing to the continued growth of the country’s real estate sector, tourism industry, and economy.”

We are delighted that 11 leading domestic and global financial institutions have come together to provide access to networks of high-quality investors both in Thailand and internationally. This collaboration reflects confidence in the strength of Thai assets and Thailand’s capital markets, representing a powerful partnership that helps create value for the tourism industry and supports the country’s long-term economic development.

AWR is distinguished by its 100% freehold ownership of assets in irreplaceable locations across Thailand, together with the right to invest in additional AWC assets through an Evergreen ROFR structure. These strengths are supported by an international-standard governance framework that places strong emphasis on investor protection and transparency.

Combined with the liquidity offered by Thailand’s largest REIT IPO, we believe AWR represents a compelling investment opportunity for both domestic and international investors, offering stable returns and long-term growth potential while supporting AWC’s ‘Building Better Future’ commitment to creating sustainable value for all stakeholders.”

AWR presents a unique opportunity for investors to own 100% freehold world-class hospitality and lifestyle commercial properties in irreplaceable locations across Thailand through the country’s largest freehold REIT, designed to deliver attractive returns, stable income, continuous growth, and sustainable long-term value creation.

Investing in 100% Freehold World-Class Hospitality and Lifestyle Commercial Properties in Prime Locations of Thailand.

AWR – The Largest Freehold High-Quality Sustainable REIT, Thailand.

Investors are encouraged to review the Registration Statement and Draft Prospectus, which contain information on the offering structure, proposed investments, financial projections, key assumptions, and associated risks, at:
https://market.sec.or.th/public/ipos/IPOSEQ01.aspx?TransID=817258&lang=th

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#AWC #AWR #AWRREIT #BuildingBetterFuture #FreeholdREIT

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