30 September, 2016 2017 2018 2019 Total Asset Million Baht 93,636.7 99,933.4 107,653.0 121,701.3 Total Liabilities Million Baht 53,114.0 58,874.0 65,804.0 78,126.2 Total Shareholder Equity Million Baht

recorded in 2018. หนา้ 10 4.2.2 Liabilities and Shareholder’s Equity Consolidated Unit: Baht million 2019 2019 Change (% yoy) Liabilities Debt issued and borrowing 75,687.52 57,709.28 31.15 Accrued interest

CentralPlaza Mahachai. Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 7 of 12 In 1Q18, weighted average financing cost stood at 3.17% Net debt to equity ratio stood at

financing cost stood at 2.80% Net debt to equity ratio stood at 0.16x Capital Structure As of June 30, 2018, CPN reported total interest-bearing debt of THB 12,722 mn, an increase from the balance as of

million in 9M19 increased by 66.7% yoy from investing in Elite Havens in late 3Q2018. • Loss sharing from investments The Company recognized loss sharing from investments in hotel management business of

280 million in 9M19 increased by 66.7 % yoy from investing in Elite Havens in late 3Q2018.  Loss sharing from investments The Company recognized loss sharing from investments in hotel management

- time gain recognized in 3Q23 of Bt434mn from Rabbit Line Pay (RLP) divestment. SG&A expenses were at Bt22,840mn, slightly increased 2.2% YoY despite TTTBB impact due to the cost optimization efforts in

increased by THB 44.3 mm or 8.6%, compared to the same period of previous year, mainly due to the one-time excessive charge amounting to THB 26.5 mm recognized during the first quarter of 2019 considered as

6 million or 200% from Q1/2020 due to the recognized sales of raw material to Mikka Café franchisee. • Revenue from Franchising in Q1/2021 was THB 2 million, increased by THB 1.5 million or 300% from

of net proceed from base offering in July and over-allotment proceed in August. This proceed would allow us to enhance our capital structure reflecting in net-interest- bearing debt to equity ratio as