12 การแปลงสภาพ CPNRF เป็น REIT_E - Translation - No. 051/2017/040 21 July 2017 Subject: Information Memorandum regarding the Conversion of CPN Retail Growth Leasehold Property Fund into CPN Retail

beverage management. Cost of sales In 1Q18, CPN reported cost of sales at THB 135 mn, in line with the growth in sales of real estate due to the partial transfer of unit ownership at ESCENT Rayong and ESCENT

applying for benefits of land ownership from the board of investment of Thailand. And Approved to authorize Ms. Su, Ming Fen, the Chairman to be the authority to the Land sale and purchase agreement with the

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

sales were at THB 6,328 million, where the growth was accelerated to +7.2% YoY. In domestic markets, beverages and personal care continued their growth momentum at 9.4% and 5.8% respectively, while

CentralPlaza Mahachai In 2017, the Thai economy continues to expand with the GDP growth of 3.9% compared to 3.2% in 2016. Factors that drive the economy include 1) Growth in exports at 9.9% from the previous

. In 2018, the Thai economy has grown at a continuously solid level with a GDP expansion of approximately 4.1% YoY. The growth is attributed to a number of factors, namely 1.) strong export growth

. In 2018, the Thai economy has grown at a continuously solid level with a GDP expansion of approximately 4.1% YoY. The growth is attributed to a number of factors, namely 1.) strong export growth

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

sustainable growth. The Company believes that the residential condominium sector in the real estate business is currently facing slowdown. The Company and subsidiary companies thus establish a strategy to