1 --Translation- Sor Gor 85/2017 August 24, 2017 Subject: Management Discussion and Analysis for the second quarter ended June 30, 2017 (Audited) To: The President The Stock Exchange of Thailand

-19 outbreak that will impact the current and future business operation, in which the Company has to prudently prepare the business plan and maintain sufficient liquidity in face of unforeseeable

The commercial banking sector in Thailand continues to face challenges from the business environment and ongoing changes in regulations. However, operating results in the second quarter of 2019 improved

Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 16 Executive Summary The Company implemented proactive measures to timely manage the situation rapidly

uncertainty from the COVID-19 outbreak that will impact the current and future business operation, in which the Company has to prudently prepare the business plan and maintain sufficient liquidity in face of

stimulus measures to support the economy while the BOT has reduced the policy interest rate. Thai Banking Industry The commercial banking sector in Thailand continues to face challenges from changes in the

; Protective face masks are provided to crew members and ground service staff to wear when on duty. Airport Business 1. Samui Airport has been recognized as the world’s most on-time airport in the small airports

household debt means that it will take more time for consumption to recover. The Thai economy will continue to face external challenges, which pose risks to the global recovery and therefore Thai exports

, particularly in sectors related to exports and tourism. Public investment totaled Baht 111.6 billion, near last year’s level, though investment in March edged up from the first two months. Headline inflation

data, particularly those from outside the company. In addition, any forward looking statements are subject to change as market conditions and actual outcomes may differ from forecasts. BAM makes no