Management Discussion and Analysis Quarter 2 Ending 30 Jun 2026

Management Discussion and Analysis Company name : MFC-STRATEGIC STORAGE FUND Year : 2026 Quarter : Quarter 2 Ending : 30-Jun-2026 Note : Ref: MFC PT. 42/2026 August 13, 2026 Director and Manager The Stock Exchange of Thailand Dear Sir, Re: Clarification for performance changed over 20% MFC Asset Management Public Company Limited, as the Management Company of MFC - Strategic Storage Fund (M-STOR) ("the Fund), would like to offer an explanation for the reason of a change in the Fund's performance for quarter 2 ended 30 June 2026 over 20% of the same period last year as follow; For three-months period ended 30 June 2026, the Fund had increase in net assets from operation of Baht 8.64 million compared with a net increase of Baht 12.46 million in the same period last year, or a decrease of 30.67%. The main reason was due to the followings. - During this period, the Fund has revalued the fair value of investment in property, resulting in net gain on change in fair value of investments of Baht 1.59 million in the same period last year the Fund had net gain on change in fair value of investments of Baht 6.60 million. - The Fund has income of Baht 8.06 million, compared with Baht 7.79 million in the same period last year, or an increase of 3.47%. - The Fund has expenses of Baht 1.00 million compared with Baht 1.92 million in the same period last year, or a decrease of 47.76% due to the fund considered the expected credit losses in the amount of Baht 0.75 million in the prior year, while there were no expected credit losses in the current year. For six-months period ended 30 June 2026, the Fund had increase in net assets from operation of Baht 15.67 million compared with a net increase of Baht 19.33 million in the same period last year, or a decrease of 18.93%. This is mainly results from changing in fair value of the properties as mentioned above. - The Fund has income of Baht 16.07 million, compared with Baht 15.52 million in the same period last year, or an increase of 3.48% - The Fund has expense of Baht 1.98 million compared with Baht 2.80 million in the same period last year, or a decrease of 29.19% from reason as mentioned above. Kindly be advised accordingly. Yours faithfully, (Mr. Rachata Trachuwanich) Executive Vice President REIT, Property & Infrastructure Fund Department Tel. 02-649-2000 This announcement was prepared and disseminated by listed company or issuer through the electronic system which is provided for the purpose of dissemination of the information and related documents of listed company or issuer to the Stock Exchange of Thailand only. The Stock Exchange of Thailand has no responsibility for the correctness and completeness of any statements, figures, reports or opinions contained in this announcement, and has no liability for any losses and damages in any cases. In case you have any inquiries or clarification regarding this announcement, please directly contact listed company or issuer who made this announcement. If you would like to see the full details of this information, please click view "full details" in attached file.