Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 16 Executive Summary CPN’s revenues continues to grow primarily from strong rental business performance

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

Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 15 Executive Summary CPN’s revenues continues to grow according to its business plan. In 1Q19, the Thai

Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 14 Executive Summary CPN’s revenues continues to grow primarily from strong shopping mall performance

Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 15 Executive Summary The Company effectively manages all businesses to mitigate the impact of COVID-19

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 Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 13 Executive Summary Revenue and net profit have growth according to the business plan In 2Q18, the Thai

decelerating rate due to slowdown in external sector and manufacturing production at home. Meanwhile, private consumption which continued to expand was derived mainly from increased expenditures on automobiles

Central Retail Corporation Public Company Limited Management discussion and analysis /Page 1 Management Discussion and Analysis The Thai economy is expected to gradually recover in line with COVID-19