Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 13 Executive Summary Revenue and net profit have growth according to the business plan In 2Q18, the Thai

According to the Bank of Thailand and Office of the National Economic and Social Development Board data, the Thai economy in the first quarter of 2021 contracted by 2.6% compared with a decrease of 4.2% in

, the effect of the strong Thai Baht that limited the export performance of the Thai lime industry in general, and the proportionally high cost of combustible fuels Golden Lime Public Company Limited 3

quarter, although the pace of expansion remained relatively lackluster. Exports registered no growth over a year with a continued appreciation of the Thai baht having a detrimental effect and this has fed

properties and cost management In 1Q18, the Thai economy continues to expand, primarily driven by a number of supporting factors, namely 1) growth in exports with a record high in March 2018. 2) Growth in the

, sweet and salty. The menu is a fusion of Thai desserts and bakery that is targeted at customers who enjoy Thai desserts. The menu helped to increase the Company's revenue during the quarter. Expansion of

durable goods. The Thai economy hence showed ongoing improvement from the first quarter. Nonetheless, the economic expansion, which was still limited and uneven, affected the performance of KBank and our

approved the restructuring of the Company’s assets by selling Dusit Thani Maldives (DTMD) in order to raise funds for business expansion. The Company will invest in units of Dusit Thani Freehold and

plans to open approximately 8 additional branches, which 7 branches are in Bangkok and 1 branch is in other provinces, consisting of 3 new dessert cafés and 5 new After You Marketplaces. The expansion is

business expansion and higher accrued staff bonus. Finance Expenses Financial expenses increased during the period from THB 17.5 Mn in 9M17 to THB 18.9 Mn in 9M18 from increased short-term borrowing as