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, determination of investment policy, regular company performance monitoring, discussion with company management, exercise of voting right at shareholders? meeting and giving emphasis to reasons or necessity of

Stable Stable Standard & Poor’s Long-term Issuer Credit Rating BBB+ BBB+ BBB+ Short-term Issuer Credit Rating A-2 A-2 A-2 Senior Unsecured Debt Instrument BBB+ BBB+ BBB+ Subordinated Debt Instrument BBB

projects related to dedicated infrastructure and/or the production of dedicated components for these facilities. Bioenergy: Energy generated from the conversion of solid, liquid and gaseous products derived

Outlook Stable Stable Stable Standard & Poor’s Long-term Counterparty Credit Rating BBB+ BBB+ BBB+ Short-term Counterparty Credit Rating A-2 A-2 A-2 Senior Unsecured Debt Instrument BBB+ BBB+ BBB

instruments Baa1 Baa1 Baa1 Subordinated debt instruments Baa3 Baa3 Baa3 Outlook Stable Stable Stable Financial strength (BCA) baa2 baa2 baa2 Financial strength outlook Stable Stable Stable Standard & Poor’s

effective mall management and operating cost control despite major renovations at CentralWorld and CentralPlaza Rama 3 The Thai economy in 3Q17 continued to expand courtesy of solid growth in export of goods

Instrument Baa1 Baa1 Baa1 Subordinated Debt Instrument Baa3 Baa3 Baa3 Financial Strength (BCA) baa2 baa2 baa2 Outlook Stable Stable Stable Standard & Poor’s Long-term Counterparty Credit Rating BBB+ BBB+ BBB