Domestic Expansion CPN currently has 2 new shopping malls under construction, namely CentralPhuket, which is expected to open by the first half of 2018, and one other to be announced in 2Q18. Apart from the

global economy. For domestic sector, private consumption and private investment also showed positive signs with private consumption recovering strongly in the durable goods segment (especially in vehicles

economy. For domestic sector, private consumption and private investment also showed positive signs with private consumption recovering strongly in the durable goods segment (especially in vehicles) and

expand largely from domestic demands contributed both from private consumption and private investment. Private consumption grew notably in durable goods segment (especially in vehicles) while growth in non

statements. Overall market environment The Thai economy for the first 8 months of 2019 grew at a slower pace from both the domestic and external demands. Private consumption slowed down in almost all

. Overall market environment The Thai economy for the first 9 months of 2019 grew at a slower pace from both the domestic and external demands. Private consumption slowed down in almost all categories

. Private investment continued to contract in all investment categories from the slowdown in domestic and external demands and also from the lower business sentiment impacted by the outbreak. Meanwhile

in the long run. Given the current situation, the Company anticipates that it will take approximately 3 years to see revenues come back to before COVID-19 level. Phase 1 : Domestic tourism With

categories from the slowdown in domestic and external demands and also from the lower business sentiment impacted by the outbreak. Meanwhile, public spending excluding transfers also contracted in both current

-19 Interest coverage ratio (time)** 0.36 -1.03 4.22 ** =EBIT/Interest expense Dusit Thani PLC Management Discussion and Analysis For 1Q20 P a g e | 8 2020 Outlook In addition to the domestic and the