under the conditions specified by this Notification; -2- (4) “originator or obligor” means any business that benefits from the money received from the sale of sukuk, which may be the same person as the

construction under concession agreements for tap water according to accounting standard TFRIC12 EBITDA (MB) Q3/2016 Q3/2017 YoY % 9M/2016 9M/2017 YoY % Operating profit 428.70 412.15 (16.55) (3.86%) 1,422.44

follows: Revenue structure categorized by business groups (Unit: Million Baht) Q1/2023 Q1/2024 Increase (Decrease) %YoY Amount % Amount % Retail Business 2,175.67 62.97% 2,406.90 67.47% 231.22 10.63

Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 15 Executive Summary CPN’s total revenue and net profit continues to grow according to its business plan

increased from business expansion. For the 9M/2018, the net profit improved by Baht 420 million or 17% from 9M/2017. The gain was primarily due to start-up of IRPC-CP Phase 2 and ISP1 in Q4/2017 and the

analysis for the year ending 31 December 2019, as follows: Business Overview In 2019, the Group's total revenue growth (TSSG) increased by 6.1% compared to the previous year driven mainly by new branch

furniture business (Separate) could still generate profit for the period accounting for Baht 15.91 million. If we deleted the special profit gaining of this period as above mentioned, it would be found that

March 2020 in the amount of 1,635.13 million baht or decrease by 70.65 million baht following the accounting policy adjustments under new applied financial & accounting standards in 2020 by 1.25 Million

Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 18 Executive Summary Revenue and profit continue to grow primarily from strong rental business performance

better performance was mainly due to an increase of revenue form airport related businesses and unallocated revenues, together with a lower of major expenses of airline business which related to number of