support and grow together with us. Commercial operation of ABPR5 From a total of 3 SPP power plants in Amata City Industrial Estate that have scheduled COD in 2018, ABPR5 is the third gas-fired combined

and 2) an increase in demand load from existing customers in Amata Nakorn and Amata City Industrial Estate.  Electricity price sales to IU in Thailand increased 4.1% y-on-y and remained unchanged q-on

located in Amata City Rayong Industrial Estate) on February 1, June 1 and October 1, 2018 respectively. EBITDA • EBITDA increased 5.4% y-on-y to Baht 9,199 million in 2018 due to the operation of new power

List of foreign auditors approved by the office of SEC No. Audit Firm Name CPA No. Approval Period 1 Baker Tilly Monteiro Heng PLT Baker Tilly Tower Level 10 Tower 1 Avenue 5 Bangsar South City 59200

’2017, primarily due to 1) the inclusion of new industrial users of ABP5, BPWHA1 and BIP2 and 2) an increase in demand load from existing customers namely Amata Nakorn, Amata City, and Laemchabang

. Most of CPN’s shopping mall maintained high level of occupancy rate given the short-term effect from mall under renovation. Including Central i-City, which was fully opened in June 2019, an average

City Industrial Estate and an increase in demand of industrial users in Amata Nakorn Industrial Estate and Hemraj Industrial Estate. EBITDA  EBITDA increased 4.0% y-on-y and 5.7% q-on-q to Baht 2,218

74.99 Total Condominium 795.22 18.69% 930.52 30.52% 3 Unit : Million Baht Project Name Year 2017 % Year 2016 % Townhouse J Town Preaksa 333.78 316.45 J City Preaksa 45.54 - J Town Rangsit 326.30 389.64 J

product prices, and low inflation rate of 0.5%. The policy rate remained unchanged at 1.50%. Central Pattana Public Company Limited (“The Company” or “CPN”) carried out its business plan, while continued

MANAGEMENT DISCUSSION & ANALYSIS 2019 14 FEBRUARY 2020 U CITY PCL 2019 - MD&A (for the year ended 31 December 2019) 1 U CITY PCL 2019 KEY FINANCIAL HIGHLIGHTS • Total revenue increased by 53.4% YoY