expense (income) was THB 125 million, decreased by 76.7 % from the same period of the last year. Central Retail Corporation Public Company Limited Management discussion and analysis /Page 6 Overview of the

operations of projects in 2019 which are Rayong Central Utility Plant 4 (CUP-4), Namlik 1 Power Company Limited (NL1PC) and Xayaburi Power Company Limited (XPCL), notwithstanding the recognition of expenses

temporary closed for renovation and transition of Food business restructuring by transferring Central Kitchen to Oishi Food Service Co., Ltd. to support the business growth. Cost of Sales Total cost of sales

gain on sale of available-for-sale investments, and attributable to total adjustment to expense of THB 165 million which was due to impairment loss. Central Retail Corporation Public Company Limited Page

% 1,449 72.2% 36 2.5% Gross profit(4) 14,286 28.6% 13,381 28.7% 905 6.8% Selling expense 11,435 21.4% 11,048 22.0% 387 3.5% Administrative expense 3,913 7.3% 4,170 8.3% (257) (6.2%) Central Retail

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

Central Retail Corporation Public Company Limited Management discussion and analysis /Page 1 Executive summary The overall global economy was projected to slow down significantly due to the COVID-19

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

103 million or 2.9% from the fiscal year 2017, mainly aligning to sales growth. Selling Expenses Total selling expense in the fiscal year 2018 was Baht 1,591 million, decreased by 3.6% or Baht 59

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