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

downturn in the goods-producing sector intensified, while agricultural output continued to fall amid a lingering drought. Consequently, annual private consumption growth moderated, while business and

sector the Thai economy continues to outperform with Q2 growth at 4.6% slightly below Q1 but remaining strong. Private consumption growth was robust in July and August, supported by higher consumer

recovery of the tourism sector and the return of foreign tourists. However, economic expansion remains at risk from the impact of higher cost of living on households and headline inflation tends to rise

announced in many countries, severely impacting both the tourism service sector and related businesses. Meanwhile, merchandise exports shrank as the global demand weakened due to lockdown measures and supply

1,465.3 1,202.7 1,007.9 262.6 21.8% 457.4 45.4% Profit for the period 123.4 105.3 102.0 18.1 17.2% 21.4 20.1% In Q3-2017, the Company's total revenue increased from Q2-2017 and Q3-2016, representing an

+7.0%. The manufacturing sector entered a downturn in the second half of March, with output and the PMI falling to a record low. Moreover, business sentiment deteriorated throughout Q1 and dropped to an

% Bio-Based Products Business4/ 339 510 -34% 136 150% 848 330 157% Natural Resources Business5/ 60 (1,227) 105% 145 -59% (1,166) 122 N/A Others (71) (90) 22% (94) 25% (161) (170) 5% Profit attributable to

1,554.5 1,174.8 1,557.6 379.7 32.3 (3.1) (0.2) Profit for the period 123.0 96.8 121.6 26.2 27.1 1.4 1.2 Overall in the Q2–2023, the Thai economy slightly improved from the previous quarter due to the

98% 626 624 0.3% Natural Resource Business Group 5/ (101) 145 -170% (81) -26% 21 24 -11% Others 6/ (75) (94) 20% (61) -24% (245) (190) -29% Net profit attributable to owners of the parent 370 528 -30