12% (71%) 100 79 (21%) Gross profit 251 378 384 2% 53% 774 1,248 61% SG&A expenses (237) (422) (405) 4% (71%) (733) (1,241) (69%) Other income 76 87 56 (36%) (27%) 376 213 (43%) EBITDA 141 115 91 (21

) -11.6 Total expenses 3,167 3,252 (85) -2.6 Profit before income tax expenses 958 807 151 18.7 Income tax expenses 196 163 33 20.2 Profit before share of profit from associates and NCI 762 644 118 18.3

2016 Pe rfo rm an ce Group Revenues 3,292 2,897 Group Sales Volume (k tons) 182 187 Group EBITDA 213 109 Group Net Profit (Loss) 65 (30) HR C HRC Sales (k tons) 182 187 HRC Production Volume (k tons) 190

-66.6% 1,646 2,695 -1,049 -38.9% EBITDA -207 149 -356 -238.9% 34 371 -337 -90.8% EBIT -410 33 -443 -1342.4% -371 140 -511 -365.0% Net profit (loss) attributable to parent -453 -22 -431 -1959.1% -535 -22

Quarter Change (%) H1 Change 2/2018 1/2018 2/2017 1/2018 2/2017 2018 2017 (%) Net profit * 9,194 9,005 8,047 2.1% 14.3% 18,199 16,352 11.3% Earnings per share (Baht) 4.82 4.72 4.22 2.1% 14.3% 9.53 8.57 11.3

of 636 million Baht (394% of total revenue), decrease by 27% or by 235 million Baht as compared to 3Q 2018 which comprises of: (1) administrative expenses of 371 million Baht, decreased by 11% or by 44

Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 12 Executive Summary Growth in both revenue and net profit demonstrates the effectiveness of retail

)% * Attributable to owners of the Bank For the fourth quarter of 2018, Bangkok Bank and its subsidiaries reported a net profit attributable to owners of the Bank of Baht 8,101 million, a decrease of Baht 929 million

117.29 102.12 92.86 15.17 14.86 24.43 26.31 219.41 181.72 37.69 20.74 Cost of services 107.97 99.60 95.88 8.37 8.40 12.09 12.61 207.57 188.60 18.97 10.06 Gross profit (loss) 9.32 2.52 -3.02 6.80 269.84

1.50 1.71 Net Interest Bearing Debt to Equity ratio Time 1.24 1.39 Financial ratio related to the profit decreased from the previous year due to the decrease of gains on sale of investments. * The