the Company had more domestic sugar sales compare to the same period last year. Financial Cost Since the 2nd quarter year 2019 average interest rate charge slightly increased compare to the same period

/- Decreased /-Decreased Brokerage fees income 914.15 (135.35) 914.15 (135.35) Fees and service income 81.40 (12.81) 81.40 (12.81) Interest income on margin loans 55.25 (12.43) 55.25 (12.43) Gain (loss) and

the second quarter of 2022 to the first quarter of 2023. The interest rate in the first quarter of 2023 higher than the first quarter of 2022 which lead to the increasing in finance costs. Tax income

debt ratio stemming from increased loans and lower shareholder equity, the ratio was nonetheless at comfortably low level. The interest coverage ratio (EBITDA / finance costs) decreased to 53.7x from

items due to the increases in costs and business volume. Interest expenses on debt issued and borrowings fell by Baht 962 million largely due to the maturity of debentures. Bangkok Bank Interest Rate May

(2,358) 366 116% Adjustments for - - Depreciation and amortisation 1,865 1,910 (2%) Unrealised (gain) loss on exchange rate (96) (1,529) (1487%) Gain on exchange rate form debt to equity conversion - (79

foreign currencies, the Company has entered into cross currency interest rate swap contracts to hedge its debt. However, the Company has unused unsecured revolving credit facilities as of August 31, 2020

. Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) 10 of 10 Capital Structure Net interest-bearing debt to equity of 0.31 times 2Q17 weighted average cost of debt 2.65% p.a

% 19.80% 17.70% 14.40% 12.38% Return on asset (ROA) 9.00% 9.20% 8.20% 6.80% 5.73% Interest bearing Debt / Equity (IBD/Equity) 0.56 0.62 0.80 0.80 0.83 Return on equity (ROE) and Return on assets (ROA) as of

4) Monetary tightening as the Bank of Thailand (BOT) signaled raising the interest rate in the period ahead while financial market rates are on an upward path. However, the Bank in-house research