(a copy in Thai and English) 2. Management Discussion and Analysis (MD&A) for the year ended December 31, 2018 (a copy in Thai and English) 3. Company's performance report, Form F45-3 for the year

TRANSLATED VERSION As of June 3, 2014 Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference. 27 Notification of the

Governance Project" of the Securities and Exchange Commission (SEC). An English version of the MD&A has been prepared from the Thai version. In the event of a conflict or a difference in interpretation between

TRANSLATED VERSION codified up to No.3 as of August 20, 2014 Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference

TRANSLATION As of 9 April 2015 Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference. Notification of the Office of the

and according to target. In 2019, Thai economy has decelerated with GDP reported at 2.4% decreased from 4.1% in 2018 as a result of declining in export growth and Baht appreciation. The world-trade

(126.34) (7.55%) Finance cost 54.83 35.03 19.79 56.50% 157.21 140.85 16.36 11.62% Income tax expenses 35.20 47.54 (12.35) (25.97%) 261.19 301.65 (40.47) (13.42%) Net profit 240.25 224.96 15.29 6.79

2020. The standard affecting the group's operations is IFRS 9 Financial Instruments in which influenced the financial business as well as Thai Financial Reporting Standard 16 Leases that affect the

effective mall management and operating cost control despite major renovations at CentralWorld and CentralPlaza Rama 3 The Thai economy in 3Q17 continued to expand courtesy of solid growth in export of goods

is poised to continue in 2018. The Thai GDP expanded by 3.8% in the first 9 month of 2017, (following the growth of 3.3% in the first 9 month of 2016)1. The growth supported by a marked upturn in