Analysis for the First Quarter ended 31 March 2019 Page 18/19 Land and Houses Fund Management Company Limited Land and Houses Fund Management Company Limited run a business to manage mutual fund, property

receivables and other receivables, inventories and property, plant and equipment. Cash spent to acquire other assets and payments of loans from financial institutions. Total Liabilities As of 31 March 2019, the

was Baht 7,061.88 million for Baht 470.01 million or 6.7% primarily from the additional purchase of property, plant and equipment of Baht 411.44 million mostly was the construction in progress for

) Property, plant and equipment 182.56 178.90 (3.66) (2.00) Other non-current assets 2.59 3.44 0.85 32.82 Total Liabilities 114.35 104.77 (9.58) (8.38) Short-term borrowings from financial institutions 58.30

flat compared to September 30, 2018. Property, Plant and Equipment increased due to a recovery of the new UHT production lines from the fire incident since December 2018 partly offset by depreciation

296.99 66.72 2.39 0.80 Assets At the end of Quarter 2 of 2019, the SAAM Group presented total assets of THB 416.93 million, mainly comprising property, plant and equipment (PPE) including solar power

purchased under resale agreements 50.17 0.00 50.17 100 Inventories 513.10 472.08 41.02 8.69 Property, plant and equipment 929.54 919.08 10.45 1.14 Other assets 82.13 69.00 13.13 19.03 Total assets 1,745.26

Growth Leasehold REIT (“CPNREIT”) and CPN Commercial Growth Leasehold Property Fund (“CPNCG”). At the end of 2Q19, the average occupancy rate of CPN’s domestic shopping malls stood at 92% , same as the

and temporary investments 385.50 532.65 539.83 -28% -29% Trade receivables 348.38 296.00 270.31 18% 29% Inventories 24.30 24.56 29.00 -1% -16% Property, Plant and Equipment 862.50 845.96 807.84 2% 7

reasons of the increase of inventory, property, plant and equipment and also the deposits for the feasibility study to investment of some projects. 2. Total Liabilities and Shareholder’s Equity Unit