capital flows towards sustainable growth and development; and 2. Effectively manages financial risks stemming from climate change, resource depletion, environmental degradation, and social and governance

Economic Growth Sources: Office of the National Economic and Social Development Council and Ministry of Commerce *Projection by KResearch Ye ar -o n- Ye ar C ha ng e (p er ce nt ) 2 1.2 Banking Industry

% % Revenue from hotel operations 279.41 68.61 284.71 51.49 (1.86) 646.47 71.23 666.78 49.31 (3.05) Revenue from property development operations 89.64 22.01 254.35 46.00 (64.76) 204.60 22.54 658.55 48.70 (68.93

Development Company Limited. 5. Expected Benefit 1. Supporting the company’s policy to diversify in to Property Business 2. To enable continuous growth in the Company’s assets, profits, and cash flows. 6

a development project of tourist facilities on Emboodhoo Lagoon in the Republic of Maldives (“Crossroads”), by acquiring interests in a separated head lease, which covers three resorts and an

investment LPN made in the above real estate development project and the establishment of a joint- stock company is to bring about long-term business growth. It will generate more income for LPN as it is

the ratification of the acquisition of assets of the ordinary shares of Phuketfuture Development Company Limited in the proportion of 80 %, approved by the Board of Directors' Meeting No. 4/2015 held on

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

transfer in December 2018), ‘The ESSE at Singha Complex’ (91% sales progress, tentative transfer in 3Q19), and ‘The ESSE Sukhumvit 36’ (46% sales progress, tentative transfer in 3Q20) – are under development

6661 Fax: +662 661 6664 1 2019 IVL Performance Summary IVL registered volume growth of 18% in 2019 driven mainly by inorganic expansion. Industry-wide spreads declined to historical lows in 2019, leading