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

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

Central Retail Corporation Public Company Limited Page 1 20 February 2020 Re: Management Discussion and Analysis Operating results for the three-month and nine-month period ended September 30, 2019

THB 19,029 million, equivalent by 46.5% . The increase was primarily Central Retail Corporation Public Company Limited Management discussion and analysis /Page 9 due to IPO, an increase of share capital

Central Retail Corporation Public Company Limited Page 1 20 February 2020 Re: Management Discussion and Analysis Operating results for the year ended December 31, 2018 To: President The Stock

Equity Coverage Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) 1 of 10 Performance Overview Growth continued both revenue and net profits, attributed to efficient

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

Equity Coverage Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) 1 of 10 Performance Overview Continuous growth in both revenue and net profits, attributed to

second largest major shareholder at the time, had known the inside information that a subsidiary of Central Retail Corporation Public Company Limited (CRC) was in the process of acquiring all securities

Limited. (“Seahorse”) shall invest to purchase the newly issued ordinary share of Seahorse by 379,999 shares at the price of Baht 100 per share, total investment value is Baht 37,999,900 (par value of Baht