GFPT Public Company Limited Interim Management Discussion and Analysis for the 2nd Quarter 2019 Page 1 of 13 Management Discussion and Analysis This interim MD&A report has been prepared based on the

GFPT Public Company Limited Interim Management Discussion and Analysis for the 3rd Quarter 2019 Page 1 of 13 Management Discussion and Analysis This interim MD&A report has been prepared based on the

Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 16 Executive Summary The Company implemented proactive measures to timely manage the situation rapidly

offer for all securities of the business; (8) “business” means a company whose securities are listed on the stock exchange, a company whose securities are traded in the securities trading center, or a

impacts of the situation. In 2020, the Company has initiated Organizational Transformation project which emphasizes on increasing operational efficiency and work process whereby the Group CEO also assumes

inevitably affected the Company’s operating revenue. In addition, the Company had invested in renovating its long overdue hotels to enhance competitive edge in the market. Moreover, the economic slowdown and

Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 15 Executive Summary The Company implemented proactive measures to timely manage the situation rapidly

purpose of reducing the deficit in the separate financial statements of the Company. 5 November 2018: U City’s ordinary and preferred shares start trading at new par value. The reverse stock split which

Company considered that such effect may result from the lack of strategic planning and marketing operational plan. Especially, there was a lack of budget allocation and prioritizing, which adversely affect

regulations: Clause 1 In this Notification: (1) the term “company,” “parent company,” “subsidiary company,” “major shareholder,” and “controlling person” shall mutatis mutandis have the same meaning as defined