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

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

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

Rayong shopping malls, are under construction. The construction progress Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) 9 of 10 Table 3: Projects under development

% % 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

Page 1 of 6 Performance Overview In 3Q17 Singha Estate Public Company Limited (“the Company” or “Singha Estate”) reported a total revenue growth of 82% YoY, mainly from higher contribution from

strategy that aims to achieve a compounded annual growth rate (CAGR) in revenue of at least 13% per year. The strategic direction to expand the business through mixed-use development, such as new shopping

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

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

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