6 November 2023
To whom it may concern
Wedge Holdings Co., Ltd.
Tatsuya Konoshita,
Representative Managing Director and CEO(Code 2388 Growth Market Tokyo Stock Exchange
Contact PIC: Yasuhiro Kotake(TEL 03-6225-2161)
Zeavola Resort once again won the WORLD LUXURY HOTEL AWARDS
in two categories, including the Global Award
We are pleased to announce that Zeavola Resort, a luxury resort on Koh Phi Phi, Thailand,
owned by our Group, has won the awards, “Luxury Boutique Resort Continent Asia” in Asian
continent and “Luxury Sustainable Resort Global” in World continent in the WORLD LUXURYHOTEL AWARD.
Established in 2006, World Luxury Hotel Awards is the pinnacle of achievement in the luxury
hotel industry offering international recognition as voted by guests, travelers, and industry
players alike. Over 300 000 international travelers vote each year, during a four-week period toselect the winners. Last year in 2022, Zeavola Resort won the “Luxury Boutique Resort
Continent Asia’ .
Luxury Boutique Resort is an international award
dedicated to recognizing excellence specific to boutique
hotels, and is awarded to luxury hotels that offer not only adistinctive sense of style and individuality, but also worldclass service, facilities and quality hospitality not found inlarger hotel chains. The continued award in Asian
continent following last year suggests that Zeavola Resort
has consistently maintained its high reputation. On theother hand, Zeavola Resort won “Luxury Sustainable
Resort Global Awards” this year that operate excellently
with sustainability in tourism as a theme. This indicatesthat Zeavola Resort has been recognized globally as anoutstanding hotel in the field of sustainability that it has
refined over the long term.

-1-In the 2023 WORLD LUXURY HOTEL AWARDS, renowned hotels in Japan such as Park
Hyatt Niseko Hanazono (won Luxury Ski Hotel Continent Asia and 2 others awards) andConrad Osaka (won Luxury Modern Hotel Global and 2 others awards) have received awards.
For more details, please refer to the official website. (WORLD LUXURY HOTEL AWARDS
https://www.luxuryhotelawards.com/）
Zeavola Resort is located in the resort area in the northernpart of Phi Phi Island, a famous tourist destination inThailand, and has the largest private beach in the area. Theresort has received high praise from wealthy overseas guests
from Europe, Australia and other countries.
Mr. Lion Imhof, the general manager of Zeavola Resort hadattended the ceremony and received the trophy and award.
Wedge Holdings began investing in the resort in 2010 as partof its investment business, and acquired the resort thefollowing year. During the COVID-19 pandemic when we were inevitably forced to halt
operations, we worked with the resort's management team to develop and support amanagement strategy to prepare for the reopening of the resort without laying off any
employees.
Zeavola Resort resumed operations in December 2021 after the worst of the COVID-19 crisis
had stabilized. While competing hotels are still suffering from the adverse effects of staff
shortages, Zeavola Resort's decision not to lay off any employees before the pandemic has
proven beneficial, allowing for a steady recovery in performance. Compared to the first half of2022, the resort's revenue for the first half of 2023 has increased by approximately 120%,showing significant growth. The hotel's profitability has also continued to grow significantly
based on strong customer reputations, with a significant turnaround to profitability in the firsthalf of 2023 and an increase of approximately 110% compared to the first half of 2019 before
COVID-19 crisis, contributing significantly to the company's record profits and boosting its
financial performance.

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We are very proud to receive this award and would like to once again thank our staff for theirlong-term support of this business and our shareholders for their understanding.
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