The conversion will enlarge TREIT's asset size to reach Bt32 billion, making TREIT become the largest industrial REIT in Thailand.

TMAN as the REIT manager of TREIT announced the conversion plan of TICON's property funds into TREIT. The conversion will enlarge TREIT's asset size to reach Bt32 billion which makes TREIT become the largest industrial REIT in Thailand. An EGM of unitholders will be held on 18-19 October, 2017 for consideration and approval of the conversion. The company is confident that the unitholders will benefit from its conversion. Expected the process will be completed by the end of this year.

(Bangkok, 12 September 2017) Mr. Peerapat Srisukont, Managing Director of TICON Management Co.,Ltd. as the REIT manager of TICON Freehold and Leasehold Real Estate Investment Trust (TREIT) disclosed, "The Board of Directors of TMAN has approved the support of conversion plan of TICON's property funds comprising TICON Property Fund (TFUND), TPARK Logistics Property Fund (TLOGIS) and TICON Industrial Growth Leasehold Property Fund (TGROWTH) into TREIT. Thus, the Extraordinary General Meeting of Unitholders for three property funds and TREIT will be held on 18-19 October 2017."

"TMAN views that the merger of these funds will benefit all unitholders of TFUND, TLOGIS, TGROWTH and TREIT by strengthening its business performance. The combined entity will enhance TREIT's ability to acquire additional assets more effectively. It will also enhance TREIT's capability for higher leverage which will increase return on investment to the unitholders. Upon completion of the conversion, it is expected that TREIT's asset size will reach Bt32 billion, covering factories and warehouses space of 1.5 million square meters. This will make TREIT become the largest industrial REIT in Thailand which will attract more foreign investors and will benefit from economy of scale. Moreover, the larger size will allow the REIT to invest in cross-border assets with manageable risk." Peerapat said.

TMAN has prepared all processes in accordance with the conversion plan and explain the benefits from the merger to the unitholders. The unitholders' meeting of three funds and TREIT will be held to consider and approve the conversion. After the unitholders approve, TMAN will submit the filing application to the SEC. The conversion is expected to be completed by the end of this year.