claiming of witholding tax from revenue department. • Increasing in bank overdraft and short-term loan account and account payable are impact of G-G transaction and also internal stock adjustment. • Increase

period and for the nine-month period ended September 30, 2019 as follows: Overview of the operating result for the third quarter of 2019 The company’s total revenue for the third quarter of 2019 was THB

November 7, 2018 Re: Management Discussion and Analysis Q3/2018 To: Director and Manager of the Stock Exchange of Thailand Revenue from sales and rendering of services L&E’s consolidated revenue from

quarter ended 31 March 2018 Consolidated Profit & Loss of NPPG (THAILAND) PCL., Unit : Million Baht Quarter 1 Year 2018 Quarter 1 Year 2017 Change %YoY Revenue from sales and services 158.3 155.5 2.8 1.8

the increase of revenue. As such , gross margin has barely changed from 29.9% to 29.6%. Administrative Expenses Administrative expenses increased by 4.7% yoy due to the adjustment of previous year’s

. RESULTS OF OPERATION Consolidated Financial Statements 1Q2019 1Q2018 % Change Total Revenue 459.4 422.0 8.9% - Utilities Business 458.0 422.0 8.5% - Operating Revenue1 431.2 420.6 2.5% - Other Utilities

Central Retail Corporation Public Company Limited Page 1 Overview of the operating result for the fourth quarter of 2019 The company’s total revenue for the fourth quarter of 2019 was THB 63,405

14.15%. The drop in net profit margin was derived from the decline in sales revenue especially from overseas, Proportion of cost of goods sold that shot up a little from the adjustment in production plan

) Revenue from Sales and Service 1,766.1 96.7 2,142.0 96.2 Franchise Fees Income 39.0 2.1 49.3 2.2 Other Income 21.2 1.2 35.0 1.6 Total Revenue 1,826.3 100.0 2,226.3 100.0 Remark: (1) Percentage of Total

Year 2015 increase (decrease) Million Baht % Million Baht % Million Baht % Revenue Revenue from property sales 708.62 82.67% 919.19 98.1% -210.57 -22.91% Other income 85.57 10.77% 17.60 1.9% 67.98 386.33