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

with the recovery in the manufacturing sector especially for export related products such as electronics. Manufacturing for domestic demands was still at the early stage of recovery. For 2018, the Thai

recovery. For 2018, the Thai economic conditions is expected to continue to grow, but with three headwinds namely 1) the economy which has not been sufficiently broad-based from weak domestic demand. If

. In 3Q18, the Thai economy extends its growth momentum following the GDP expansion by 4.6% in 2Q18. The growth is attributed to a number of factors, namely 1.) strong export growth despite a slight

. Chart of hot-rolled coil reference prices on world market for Q1/2013 Q2/2017 Processed price data from: Metal Expert Overview of Thai Steel Industry ISIT had reported the domestic steel-production Q2

public consumption and private investment were constantly expanding. However, Thai economy still faces other risk such as The U.S.-China trade war, global economic uncertainty and domestic political

quarter. • Net loss (gain) from exchange rate The Company had recorded loss from exchange rate for the 2nd Quarter 2020 amounting to THB 102 million due to weakening of the Thai Baht against the US Dollar

) maintained the policy interest rate at 1.50 percent. The Committee assessed that the Thai economy was on the path of recovery, while domestic demand recovery remained gradual and unevenly distributed. Headline

world market for Q1/2013 – Q3/2017 Processed price data from: Metal Expert Overview of Thai Steel Industry ISIT had reported the domestic steel-production Q3/2017 was at 1.70 million metric tons

. Management’s Discussion and Analysis (MD&A) for year 2017 8 Chart of hot-rolled coil reference prices on world market for Q1/2013 – Q4/2017 Processed price data from: Metal Expert Overview of Thai Steel Industry