Lotus Retail Growth Freehold and Leasehold Property Fund : The disclosure of the Minutes of the 2022 Annual General Meeting of Unitholders

BLJ. KT PIT 0066/2022

Krung Thai Asset Management Public Company Limited ("KTAM"), as the management company of Lotus's Retail Growth Freehold and Leasehold Property Fund (LPF) (the "Fund"),

convened the 2022 Annual General Meeting of Unitholders on June 29, 2022 at 2.00 p.m. via electronic

media (E-AGM) under the Emergency Decree for Electronic Meetings, B.E. 2563 (2021) and the applicable rules.

KTAM has delivered the minutes of the 2022 Annual General Meeting of Unitholders to the unitholders of the Fund and posted on KTAM's website (http://www.ktam.co.th) under the Fund's related documents section on July 11, 2022. The documents posted are the same documents as sent to the unitholders by post.

Please be informed accordingly.

Sincerely yours,

(Chavinda Hanratanakool)

Chief Executive Officer

For more information, please contact customer relation center tel. 0-2686-6100 # 9

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-Translation-

Lotus's Retail Growth Freehold and Leasehold Property Fund (LPF)

Minutes of the 2022 Annual General Meeting of Unitholders

Date, time and venue

The meeting was held on June 29, 2022 at 2.00 p.m. via electronic media (E-AGM)

Management Team from Krung Thai Asset Management Public Company Limited

Representatives from Ek-Chai Distribution System Company Limited as the Property Manager

Representative from The Hongkong and Shanghai Banking Corporation Limited of Bangkok as Fund Supervisor

1. Mr. Mitchai Sae-tang
2. Mr. Tanapat Vitpornnitipacha
3. Ms. Kitima Jatanaviboon

Representatives from PricewaterhouseCoopers ABASLtd. as Auditor

1. Mr. Warach Rasmeepaisarn

Ms. Pakpibonk Tahlotsookdinon, the Master of Ceremony (the "MC"), introduced the management team from Krung Thai Asset Management Public Company Limited ("KTAM"), the representatives from Ek-Chai Distribution System Company Limited as the property manager, the representative from The Hongkong and Shanghai Banking Corporation Limited of Bangkok as fund supervisor, and the representatives from Pricewaterhouse Coopers ABAS Ltd. as auditor of Lotus's Retail Growth Freehold and Leasehold Property Fund (LPF) (the "Fund").

The meeting was held via electronic media (E-AGM) in accordance with the Emergency Decree for Electronic Meetings, B.E. 2563 (2021) to prevent the spread of the COVID-19. In this meeting, KTAM engaged the electronic meeting system of Quidlab Co., Ltd., which has a meeting management system that complies with the announcement of the Ministry of Digital Economy and Society on the security standards of meetings via electronic media B.E. 2563 (2021), as well as its meeting control system has qualifications as certified by the Electronic Transactions Development Agency (ETDA).

After that, the MC explained the steps and procedures for the meeting including how to inquire during the meeting.

Ian this regard, KTAM arranged to make an audiovisual record including electronic traffic data of every attendee throughout the meeting. The recorded audiovisual and electronic traffic data shall be deemed part of minutes of the meeting.

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This meeting consisted of 6 agendas and all of which were for acknowledgement:

Agenda 1 To acknowledge the summary of questions and answers following additional inquiries from the unitholders related to the Report of the Fund in lieu of convening the 2021 Annual General Meeting of Unitholders;

Agenda 2 To acknowledge the Fund's significant management and future direction in management;

Agenda 3 To acknowledge the Fund's operating results and financial statements for the fiscal year 2021/22 (ended February 28, 2022);

Agenda 4 To acknowledge the dividend payment from operating results of the fiscal year 2021/22 (ended February 28, 2022);

Agenda 5 To acknowledge the appointment of the auditor and the determination of audit fee for the fiscal year 2022/23 (ended February 28, 2023); and

Agenda 6 Other matters (if any).

The MC informed the meeting that there were 19 unitholders attending the meeting by themselves and 524 unitholders attending by proxy, the total number of unitholders who attending the meeting is 543 unitholders, holding 1,522,117,163 investment units equivalent to 65.1234% of the total number of investment units sold (2,337,282,928 investment units) in accordance with the Notification of SEC Office No. TorNor. 36/2562 and with the Securities and Exchange Act B.E. 2535 (1992) which requires that a quorum shall consist of at least 25 unitholders or at least one-half of the total number of unitholders with number of investment units in aggregate shall not be less than one-third of the Fund's total number of investment units sold.

The Meeting commenced

Mr. Piraj Migasena, acting as a Chairman, welcomed all unitholders of the Fund and proceeded with the meeting. The Chairman informed the meeting that the details of the Fund as follows:

After that, MC has started the consideration according to the meeting's agendas, as follows:

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Agenda 1 To acknowledge the summary of questions and answers following additional inquiries from the unitholders related to the Report of the Fund in lieu of convening the 2021 Annual General Meeting of Unitholders

The MC has explained to the meeting that, as KTAM has deemed it appropriate to convene the 2021Annual General Meeting of Unitholders by delivering the report on the relevant matters to the unitholders (the "Report") in lieu of convening the 2021 Annual General Meeting of Unitholders in accordance with the relevant SEC's notifications, as well as provided an opportunity for the unitholders to send queries respecting the Report. After that, KTAM has gathered all relevant queries and prepared the summary of questions and answers following additional inquiries from the unitholders related to the Report, and disclosed to the unitholders and the investor for acknowledgement through the digital platform of the Stock Exchange of Thailand and the website of KTAM (http://www.ktam.co.th) on August 13, 2021, and sent to the unitholders with the invitation to the 2022 Annual General Meeting of Unitholders already.

ResolutionThis agenda was for acknowledgement; therefore, voting was not required.

Agenda 2 To acknowledge the Fund's significant management and future direction in management

KTAM has considered and deemed appropriate to declare the unitholders for acknowledgement the Fund's significant management and future direction in management.

Mr. Vorapon Techa-akrakul clarified the meeting regarding the significant management and future direction in management of the Fund as follows:

The Fund's significant management in the fiscal year 2021/22 (ended February 28, 2022)

In the fiscal year 2021/22 (ended February 28, 2022), the Fund has total revenue of approximately 2,372.87 million baht, after deducting total expenses of approximately 613.92 million baht, the Fund has a net investment income of approximately 1,758.95 million baht. It is a result of the benefits procurement of realty assets under the COVID-19 pandemic in Thailand which has been affecting the performance of a whole industry as well as the Fund since the fiscal year 2020/21 and continued until the fiscal year 2021/22.

Future direction in management

The Fund has a policy to seek benefits from the invested assets by leasing the area of 23 Lotus shopping centers of the Fund to tenants for various businesses, most of which are scheduled for a period of at least 3 years per contract, requested tenant the deposits, has the right to terminate the contract in the event that the tenant breaches the contract. The Fund selects Ek-Chai Distribution System Co., Ltd. to be the property manager with related fees and remuneration at a reasonable rate in accordance with normal trading practices as if it is a transaction with the others property manager (at arm's length transaction).

ResolutionThis agenda was for acknowledgement; therefore, voting was not required.

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Agenda 3 To acknowledge the Fund's operating results and financial statements for the fiscal year 2021/22 (ended February 28, 2022)

Mr. Anuchit Katetrakul, management team from KTAM, has informed the meeting on the Fund's performance for the year 2021/22, of which the details are as follows:

Operating Results (Unit: Million THB) March I, 2021 -February 28,

The financial statements as of December 31, 2021 was audited and certified by the approved auditor from PricewaterhouseCoopers ABAS Ltd., and it is appropriate to present to the unitholders for the acknowledgement with the details as follows:

Operating Result (Unit: THB)As of December 31, 2021

ResolutionThis agenda was for acknowledgement; therefore, voting was not required.

Agenda 4 To acknowledge the dividend payment from operating results of the fiscal year 2021/22 (ended February 28, 2022)

Mr. Anuchit Katetrakul, management team from KTAM, has informed the meeting that the Fund has a policy to pay dividends to unitholders as specified in the Fund Scheme, where the KTAM

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