Event Title / Subtitle Location Analyst Briefing Analyst Meeting CPN Head Office for [QQYY] Results CEO Forum CEO Forum CPN Head TOWARDS SUSTAINABLE CENTER OF LIFE Office Strategic Direction for [Year] NDR Non-deal Roadshow City, ST, CENTER OF HAPPINESS Country CENTER OF with [Broker] COMMUNITY Conference [Name of Conference] City, ST, Country CENTER OF [not used ; use as 2nd line] ALL LIFESTYLES Opp Day Opportunity Day SET, for [QQYY] Results Co. Visit Investor Presentation CPN Head Office [blank] Others [Title] [Location] [Subtitle / Organizer / Audience] CENTER OF ACTIVITIES

Central Pattana Public Company Limited (CPN) Investor Presentation Discussion material on the company’s latest information

November 2019 CPN Head Office Disclaimer Please read before you proceed!

DASHBOARD

. The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for share in Public Company Limited (“CPN” and shares in CPN, “shares”) in any jurisdiction nor should it or any part of it form the basis of, or be relied upon in any connection with, any contract or commitment whatsoever. OVERVIEW . This presentation may include information which is forward-looking in nature. Forward-looking information involve known and unknown risks, uncertainties and other factors which may impact on the actual outcomes, including economic conditions in the markets in which CPN operates and general achievement of CPN business forecasts, which will cause the actual results, performance or achievements of CPN to differ, perhaps materially, from the results, performance or achievements expressed or implied in this presentation. STRATEGY

. This presentation has been prepared by the CPN. The information in this presentation has not been independently verified. No representation, warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions in this presentation. None of the CPN or any of its agents or advisers, or any of their respective affiliates, advisers or representatives, shall have any UPDATES liability (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation.

. This presentation is made, furnished and distributed for information purposes only. No part of this presentation shall be relied upon directly or indirectly for any investment decision-making or for any other purposes. GLAND . This presentation and all other information, materials or documents provided in connection therewith, shall not, either in whole or in part, be reproduced, redistributed or made available to any other person, save in strict compliance with all applicable laws.

APPENDICES

Page 2 Agenda

DASHBOARD Company Overview

OVERVIEW

CPN Strategic Direction STRATEGY

UPDATES Business Updates

GLAND GLAND Progress

APPENDICES

Page 3 CPN at a Glance The most glorified property developer in

DASHBOARD

12th 1.8 92% 6

OVERVIEW Diversified asset base led by world-class Strategic investments in REIT and Prop. Fund project development

27% 25% STRATEGY 34 7 2 10 Retail Office Residential Projects Buildings Projects Projects 8 Retail, Office and The Offices at Signature Retail Properties Hospitality Projects CentralWorld UPDATES

Major owners of GLAND and its underlying high potential assets

Hotel Brands Residential Brands 3 Office and 1 GLAND 15% investment in Residential Projects 68%

Strategic land bank in Bangkok at Rama 9 and Phaholyothin APPENDICES

* Market capitalization as of Sep 30, 2019 Page 4 ** Includes areas owned by CPN and CPNREIT for a total of 33 domestic retail properties as of 3Q19

Distinguished Retail Formats

Focused on a wide range of lifestyle-oriented customers

DASHBOARD

Luxury Luxury - The magnitude of luxury and leisure Thailand’s first and most exciting international resort shopping destination luxury outlet shopping destination

OVERVIEW The world’s must-visit lifestyle destination at

the heart of Bangkok

STRATEGY

High High High - A fusion of modern design and The center of community to fulfill the outdoor nature to complete a memorable holiday experience

Target Segment Target lifestyle needs of residents and travelers

UPDATES 1 Location

GLAND 5 26 Locations

Locations

mass Mid mass

- Mid

APPENDICES Mainly Locals Blended Mainly Tourists Target Customer Group Page 5 Superior Locations in Thailand Operational Projects Iconic and highly accessible in both Bangkok and provinces 1 CentralPlaza Lardprao 2 CentralPlaza Ramindra DASHBOARD 33 retail-centric projects in 15 provinces: 15 within and 18 outside of BMA 3 CentralPlaza Pinklao NORTH 1 4 CentralPlaza Rama 3  Chiangmai  Chiangrai  Lampang 5 CentralPlaza Bangna  Phitsanulok NORTHEAST 6 CentralPlaza Rama 2 OVERVIEW  Khonkaen  7 CentralWorld  Udonthani  Ubonratchathani 8 CentralPlaza Rattanathibet 9 CentralPlaza Chaengwattana  Ayutthaya STRATEGY 10 CentralPlaza Grand Rama 9 11 CentralPlaza Salaya  2 EAST  Rayong 12 CentralPlaza WestGate 13 CentralFestival EastVille UPDATES 15  Completed Projects 14 CentralPlaza Mahachai

 Future Projects

Existing Rail Lines SOUTH GLAND  Phuket 3 Extension Rail Lines  Suratthani 4  Hatyai  Nakhon Si Thammarat

Note: Bangkok Metropolitan Area include operational shopping malls, namely at 1) Lardprao ; 2) Ramindra ; 3) Pinklao ; 4) Rama 3 ; 5) Bangna ; 6) Rama 2 ; 7) CentralWorld ; 8) Rattanathibet ; 9) Chaengwattana ; 10) Grand Rama 9 ; 11) Salaya ; 12) WestGate ; 13) EastVille ; 14) Mahachai, and announced future projects, namely at A) Central Village and B) Dusit Central Park APPENDICES 1. Chiangmai includes 2 shopping malls: CentralPlaza Chiangmai Airport and CentralFestival Chiangmai 2. Chonburi includes 3 shopping malls: CentralMarina, CentralFestival Beach and CentralPlaza Chonburi 3. Phuket includes 2 shopping malls: Central Phuket Floresta and Central Phuket Festival (both under the same complex “Central Phuket”) Page 6 4. Suratthani includes 2 shopping malls: CentralPlaza Suratthani and CentralFestival Samui Leader in Major Cities of Thailand CPN retail properties reign in face of considerable competition

Competition in Bangkok Metropolitan Area Key malls in DASHBOARD Maya Chiangmai

20

Others 36 % market share Key malls in Phuket of total GFA 5 The Mall in Bangkok at 3 OVERVIEW 18.9 mil. Siam Piwat sq.m. 14 Proprietary Developers Promenada Chiangmai Hypermarket 22 Key malls in STRATEGY Siam Piwat Nakhon Ratchasima Mostly mid-market Mostly high-end / luxury Only one high-end Tourists-oriented / EmQuartier Icon Siam /

The Mall Korat UPDATES Logo = Locations with

CPN’s presence

Terminal 21 Korat GLAND Key malls in Pattaya-Chonburi

Mega City Bangna

Bangkok Metro.Area Bangkok Othernotable malls in APPENDICES MBK Center Terminal 21 Pattaya Harbor Mall Pattaya Source: Company information as of December 31, 2018 (GFA excludes area for parking lot) Page 7 Others include traditional retail shops and houses in formats not specified in figure. Strong Support from Major Shareholders ’s leadership in retail and lifestyle experiences

DASHBOARD

Retail Brands Loyalty Program Digital / New Economy

OVERVIEW Fashion & Specialty Retail (over 400 shops and 1,800 sales counters)

The most complete digital lifestyle The largest and most popular CRM platform that enables seamless STRATEGY Food Retail (over 1,300 stores) program in Thailand with over 13 connection between offline and million members online experiences

Hardline Retail Restaurant Group UPDATES (over 200 stores) (over 900 branches)

The leader in multi-format, multi- category retailing in Thailand

GLAND Serve as effective traffic magnets into CPN’s properties through widely recognized brands with over 7 decades presence in Thailand.

Utilize customer data shared across business units and the new economy APPENDICES space to create unique, personalized experience for every customer. Page 8 Development & Management Structure Viable structure to maximize economic value

DASHBOARD

OVERVIEW

Joint-Developer Area STRATEGY

UPDATES CPN Developed & Managed Area

Comprises anchor Comprises Central Group and assorted tenants dept. store and BUs GLAND Standard Shares cost of landscaping contractual and and surrounding facilities pricing terms

Invests in its own assets where Enables optimum CRG & Third Party CPN is not a beneficiary 12% 88% tenant mix at each CMG Tenants APPENDICES location

Page 9 Note: CRG = Central Restaurant Group ; CMG = Central Marketing Group Sustainable Development (1/2) Not limited to the well-being of customers and tenants…

DASHBOARD Creating destinations for every customer with unique lifestyle and interests

Food Destination Family Destination OVERVIEW

Fashion Destination HIGHLY SATISFIED Sports Destination STRATEGY CUSTOMERS Customer and tenant experience fulfillment through digitalized engagement

UPDATES Utilize data analytics to enhance customer experience Convenience through mobile applications

Forge & reinforce tenant relationship Tenant and Local SMEs development GLAND

EDUCATED TENANTS

Exclusive campaigns and T1C offers APPENDICES CPN Lead & SME marketplace

Page 10 Sustainable Development (2/2) …but also towards communities and environment

DASHBOARD Deliver new experiences and value with capable business leaders New formats New economy New attractions

OVERVIEW Corporate governance and Environmentally friendly sustainable development business operator

COLLABORATION The only Thai real estate WITH company selected to DJSI STRATEGY BUSINESS PARTNERS Platinum LEED certification for foodwOrld at CentralWorld

Local community engagement UPDATES

Energy conservation intiatives (e.g., solar rooftop, LED lighting)

Building community wealth GLAND

TRANSPARENT AND INTEGRITY TOWARDS Engagement Green area within CPN properties through CSV Social media integration APPENDICES GENERAL PUBLIC

Page 11 CPN Growth Strategy towards 2023 Become a top 5 diversified regional developer

DASHBOARD Key Drivers

Key growth drivers Optimize performance of existing GLAND assets - Increase occupancy rates in retail areas over the next 5 years: GLAND - Enhance connectivity with surrounding assets

Residential: 3-5 projects / year primarily on existing land bank OVERVIEW Mixed-use and Offices: under study at prospective locations development Business Collaborations with strategic partners

Domestic Overseas 2019 Central Village Central i-City () STRATEGY Ongoing preparation to Core invest in business expansion 2020-’23 up to 15 new retail projects + M&A opportunities Large-scale mixed-use development projects UPDATES (Dusit Central Park, GLAND)

Ongoing renovation program Asset 2-3 existing projects / year enhance- to optimize design, format, tenant mix, thus occ. rate and NLA ment GLAND Maintain leadership position as “Center of Life” - Roll out “destination” concepts Organic - Integration of digitalized features to promote O2O growth interactivity and customer engagement - Space utilization

APPENDICES 2018 2019 2023 ~18% Page 12 Growth exclude other income Sustain growth beyond next 5 years Long-term growth to come from international expansion

DASHBOARD Growth opportunities beyond Thailand Next 5 Years Long-term

~13% CAGR mainly Double-digit growth from from domestic domestic & international OTHER ASEAN COUNTRIES OVERVIEW Long-term prospects Potential growth driver in next 10+ years

International projects as the STRATEGY next growth lever VIETNAM MALAYSIA Identified ~ 5% of revenue by 2023 Opportunities (based on ~3 locations) UPDATES

GLAND Sustained domestic growth through:

New mall expansion THAILAND Existing mall enhancement Core market ~95% of total revenue by 2023 Mixed-use project development APPENDICES

Page 13 Vietnam: the next overseas destination The gem of ASEAN retail market for long-term growth

DASHBOARD Vietnam at a glance Key advantages for CPN to enter Vietnam Growing young generation High potential market with exceptional growth driven by consumer spending % retail sales YoY % final consumption to million % forecasted annual GDP growth in 2017 GDP in 2017 96.1 people growth during 2019-2021 74.5 % population 6.7 12.7 under age 24 4.6 39.8 5.4 66.5 OVERVIEW Malls are influencing the retail supply % by format; in HCMC and only Vietnam ASEAN Vietnam ASEAN Vietnam ASEAN C-Stores / 13 Bazaar Ample room to grow retail space per capita with low direct competition Retail NLA (sqm.) per capita STRATEGY 21 3.0m 1.41 Mainly supplied by a few major local and foreign Supermarket / sqm. retail 0.97 supply Malls & 0.77 players Hypermarket 66 Dept. Stores 0.49 0.11 0.1 0.03 Shopping centers growing around cities UPDATES HK SIN BKK JKT HCMC Hanoi Hai Phong HANOI Abundance of tenant network through strong presence of the Central Group 0.9m sqm NLA

GLAND >80% of NLA located in non-CBD areas in light of higher urbanization rate

1.0m sqm NLA Over 250 retail outlets nationwide since 2011 comprising supermarkets, electronic retail, department stores, as well as many international fashion and lifestyle brands APPENDICES HO CHI MINH

Page 14 Source: CIA World Fact Book, World Bank, JLL, Colliers International, General Statistics Office of Vietnam Expanding Net Leasable Area Supported by strong rental contract foundation

DASHBOARD Total Retail NLA (mil. sq.m.) Robust contract structure with potential 2.6 upside from expiring long-term leases 2.4 New Consign- 2.2 Fixed 2.2 ment 2.0 OVERVIEW Rent 1.8 40% 1.8 44% (37%) 1.8 1.7 (46%) Base 16% 1.4 STRATEGY (17%) Long-term Contracts 1.0 2018A 2019F 2020F 2021F 2022F 2023F

% Long-term lease expiration schedule Number of retail projects operated and managed by CPN UPDATES Base 32 32 ~34 ~35 ~38 ~42 63% New 1* 2 ~1 ~3 ~4 ~5 33% Dept. Store Total 32 ~34 ~35 ~38 ~42 ~47 Renewed 24% 13% Number of mixed-use projects operated and/or developed by CPN 18% 30% GLAND 6% Resi. HR 3 ~7 3-5 additional / year < 1 year 1-3 years > 3 years Resi. LR 1 ~2 Retail Dept Store in Acquired Projects Offices 7 7 1-3 additional / year Hotels 2 2

Source: Company estimate as of September 30, 2019 * Central Phuket counted as 1 project after the APPENDICES (1) Percentage based on occupied area. opening of Central Phuket Floresta in 2018 (%) 2Q18 figure HR: high-rise projects Page 15 (2) Based on total long-term lease area of 132,071 sq.m. with less than 5% rental income contribution. LR” low-rise projects incl. single-detached houses Capital Expenditure (CAPEX) Focused on new retail and mixed-use development

Unit: billion THB DASHBOARD 30 26.0 23.9 25 22.7 22.7 20.5 2.6 20 18.6 4.3 6.3 1.1 New Malls 13.6 (Announced) OVERVIEW (M&A) 15 5.3 13.1 10.9 9.5 14.6 New Malls 5.0 (Prospective) 10 5.8 1.5 0.9 3.6 1.7 1.5 5 4.2 Enhancements STRATEGY 3.5 4.6 3.8 1.5 4.0 2.1 Residential 2.1 1.2 2.5 1.8 1.2 0 0.8 Hotel 2018A 2019F 2020F 2021F 2022F 2023F

Dusit Central Park UPDATES New Central Phuket Central Village Ayutthaya, Si Racha, Chanthaburi (2023-2024) Projects i-City (Malaysia) Unannounced projects at GLAND several locations in Thailand (2023-2024) Pattaya Beach CentralWorld Phuket Festival Enhan- Rama 3 Lardprao 2-3 projects / year

GLAND cement Chiangrai Chonburi

Phyll Pahol 34 At least 3 Mixed- Niyham low-rise resi. 3-5 residential projects / year

Use Common Ground Approx. 9 new hotels in next 5 years

APPENDICES Prospective new malls include preliminary CAPEX for GLAND’s future projects and two projects in Vietnam, subject to revision Page 16 Excludes investments related to M&A, land lease acquisition / renewal and other non-business related investments New Projects Roadmap Opportunities through both organic and inorganic means

2019-20 2021-22 2023+ DASHBOARD

Central i-City (Malaysia)

Open in March 2019 (partial) and June 2019 (full) Central Village

OVERVIEW Completed Open in August 2019 (initial phase)

CentralPlaza Ayutthaya, Si Racha, Chanthaburi STRATEGY

Announced

Unannounced locations in land bank / land to be secured UPDATES Mostly secured locations across Thailand

Dusit Central Park GLAND

GLAND development Under Large scale mixed-use development projects in Bangkok

Operational projects in Thailand

APPENDICES

~1 M&A per year with several targets identified M&As Page 17 New Projects Announcement Expanding mixed-use development footprint in prime locations

DASHBOARD

OVERVIEW

STRATEGY from now until 2022

3 new mixed-use projects 2 re-development projects UPDATES 12 asset enhancements

GLAND

APPENDICES

Page 18 Creating Regional Destinations Three new footprints at high potential locations in Thailand

Project information Key advantages DASHBOARD CentralPlaza Ayutthaya Estimated opening 1H 2021 - Strategically located along the main highway between Bangkok and Land type (expire) Freehold northern provinces ; positioned as Land area 47 rai the “gateway to the north”. - Up and coming tourist hub for Total investment1 ~6,200 MTHB Ayutthaya Province as the world heritage destination. OVERVIEW Approx. retail NLA ~32,000 sq.m. - Support government’s plan to Mixed-use projects: convention hall, hotel, promote Ayutthaya as a national residential, tourist attraction, green area and regional MICE center.

CentralPlaza Si Racha Estimated opening 2H 2021 - Situated at the heart of a highly populated and fast-commercialized STRATEGY Land type (expire) Leasehold (2051) area of Si Racha Province, also home to many expatriates. Land area 27 rai - Support the local economy and Total investment1 ~4,200 MTHB urbanized lifestyle at the hub of the EEC provinces. Approx. retail NLA ~30,000 sq.m. - The first fully integrated mixed-use UPDATES Mixed-use projects: convention hall, hotel, development in Si Racha to serve a serviced apartment, education center wide range of customer lifestyles.

- Located at the central business CentralPlaza Chanthaburi Estimated opening mid-2022 district of Chanthaburi Province, the Land type (expire) Freehold key beneficiary for economic GLAND development in eastern Thailand Land area 46 rai and an extension of the EEC Total investment1 ~3,500 MTHB development area. - Holds high promises as a fast- Approx. retail NLA ~18,000 sq.m. growing second-tier city renowned Mixed-use projects: residential, premium for its fruit production, jewelry trade, sports club, public park and boutique travel and leisure destination in Thailand. APPENDICES Remark: 1. Total investment include the land and development cost of other mixed-use properties. investment cost for retail project roughly accounts for Page 19 50-70% of total investment (excluding co-investments from Central Group business units). Redevelopments and Renovations Enhancing asset value in next few years

DASHBOARD CentralPlaza Rama 2 REDEVELOPMENT CentralPlaza Ramindra

Start / Complete Start / Complete 2H 2020 / 1H 2022 2H 2020 / 2H 2021 Investment cost Investment cost

OVERVIEW ~1,500 MTHB ~1,600 MTHB Key Activities Key Activities - Retail expansion - Connectivity with - Reconfigure existing new mass transit line mall area - New destination - Green park area for concepts STRATEGY outdoor community - Green nature blend

Asset enhancement programs at 12 projects by 2022

UPDATES

Bangna Chaengwattana Grand Rama 9 EastVille Chiangmai Airport Chiangmai Festival GLAND

APPENDICES Marina Pattaya Beach Khonkaen Udonthani Hatyai Samui

Page 20 Remark: Expected financial impact to CPN have not yet fully considered the adoption of TFRS 16: Leases Dusit Central Park The new era for one of Bangkok’s most endearing heritages

DASHBOARD

Residential: 2 brands Hotel: Dusit Thani Bangkok Total units: ~389 Total rooms: ~250 OVERVIEW Total floors: 69 Total floors: 39 Open date: 1H 2024 Open date: 1H 2023 CPN own’ship: 40% CPN own’ship: 40% Dusit Residences

STRATEGY Total units: ~159 Size/unit (sqm.): 120-600

Dusit Parkside Total units: ~230 Retail: Central Park UPDATES Size/unit (sqm.): 60-260 Total area: ~80,000 sqm.

Total floors: 7+UG Office: Central Park Offices Open date: 2H 2023 Total area: ~90,000 sqm. CPN own’ship: 85% Total floors: 43 GLAND Bldg. format: Grade A Open date: 2H 2023 CPN own’ship: 100%

23 rai land >60 years Leasehold APPENDICES 36.7 bn THB total investment 440,000 sqm. total area (extended in 2017)

Page 21 Sources: Dusit Thani PLC presentation; Dusit Central Park project announcement on April 1, 2019 ; CPN ownership represents ultimate ownership in each project Asset Enhancement Initiatives Ongoing activities to be mostly completed by end of year

DASHBOARD Key activities in 3Q19 Continue to provide new destinations for people with unique interests through global and local signature brands

OVERVIEW

A new-look food destination at Entrance connection to new BTS station First “Haidilao” in Thailand at CentralWorld CentralPlaza Chonburi at CentralPlaza Lardprao results in a STRATEGY considerable boost to mall traffic

3Q19

CentralWorld1 UPDATES CentralPlaza Chiangrai

CentralPlaza Chonburi

Central Phuket Festival GLAND CentralPlaza Lardprao Completed in 2018 CentralFestival Pattaya Beach2 Commence in 2018-19

APPENDICES Note 1: Major renovation program for CentralWorld mostly completed by 4Q18 ; Minor workover still ongoing until full completion by 1Q19 Page 22 Note 2: Renovation program not including area transferred to CPNREIT Residential Development Update Abundance of backlogs and future launches in the pipeline

PHYLL PAHOL 34 DASHBOARD 34% High-rise residential development standalone

9 8.2 44% projects bn THB total of total value ESCENT PARK VILLE launched value launched transferred CHIANGMAI >10bn THB OVERVIEW total value from 10 project launches to-date Low-rise residential development NIYHAM BOROMRATCHACHONNANI 66% 1 2.0 7% STRATEGY mixed-use projects bn THB total of total value component launched value launched transferred

UPDATES Backlog and expected transfers of launched projects aplenty for 2020 and beyond

bn THB New launches Pre-sales Transfers Upside from new launches (3-5 per year) >4.0 4.2

2.7 2.7 2.7 2.7-3.0 GLAND 2.3 2.3 1.7 1.3 0.9 0.1

2016 2017 2018 2019 2020+ APPENDICES Information and company’s estimates as of September 30, 2019 ; amount shown excludes unannounced projects and residential project under GLAND Page 23 Pre-sales amount excludes certain types of properties, such as single-detached houses that are pre-built before soles and transfers. Transactions with CPNREIT Combined value of < 48.6 bn THB to completed by 1H20

Leases of four retail properties Lease extension DASHBOARD 1 2 < 23.2 bn THB < 25.4 bn THB

OVERVIEW

CentraPlaza CentralPlaza Central CentralPlaza CentraPlaza Rama 2 Suratthani Ubonratchathani Marina Lampang (30-year lease extension) (30-year lease) (30-year lease) (15-year lease) (22-year lease) STRATEGY

qualified as financial leases

Expected timing and financial impact to CPN resulting from the transactions

UPDATES 2019 1Q20 2Q20 2025

beginning of 2Q20 Nov-19 Complete transfer of asset leases under 1 by 2025 CPNREIT to host an with cash receipt of < 23.2 bn THB Payment received for the GLAND EGM to approve the extension of 2 for a execution and funding Extension of lease under 2 agreed with of the transactions for CPNREIT total consideration of no more than 25.4 bn THB 1 and 2 CPN to recognize one-time gain for the transactions qualified as financial leases for

APPENDICES both 1 and 2

Page 24 Remark: Expected financial impact to CPN is subject to the resolution of CPNREIT’s EGM and the final price of the transactions. 2019 Guidance Reiteration Continuous growth driven by core business performance

9M19 2019 DASHBOARD Actual Full Year Guidance Rental & Service Business* - YoY revenue growth 11% 10-11% - Same-store revenue growth ~3.2% ~3% OVERVIEW - Gross profit margin 49% ~ 2018 level - Same-store gross profit margin 53% > 2018 level

Food Center Services Business - YoY revenue growth 20% ~20%

STRATEGY - Gross profit margin 55% > 2018 level

Hotel Business - YoY revenue growth/(decline) 1% ~0% - Gross profit margin 66% ~ 2018 level

UPDATES Residential Business* - YoY revenue growth/(decline) (49%) 0-10% - Gross profit margin (own land) >40% >40% - Gross profit margin (standalone) >32% >32%

GLAND Total revenue** growth 4.9% ~10%

SG&A to total revenue ratio 17.5% 17-18%

Financing cost - Net D/E ratio 0.45x < 1.0x APPENDICES - Average cost of debt 2.96% ~3%

Page 25 * Includes consolidation of GLAND’s lettable office and retail area, as well as remaining residential units ** Includes other income GLAND Acquisition Update Assumes controlling stake; now reviewing investment plan

DASHBOARD Before Shares Acquisition After Shares Acquisition

Retail and OVERVIEW Institutional Shareholders 32.47% Retail and Charernkit Institutional Group Shareholders 50.43% 49.57% CPN STRATEGY 67.53%

UPDATES Timeline of events and approximated development and investment plan:

September – November 2018 May 2019 by 2020 During 2023-2024 Successfully acquired CPN acquired 50% Review and finalize Launch new mixed-use GLAND controlling stake from major shares in Bayswater from development plan development projects shareholders, followed by BTS Group, pairing with at GLAND’s sites (earliest time frame) additional stake through GLAND as JV partners tender offer at 3.10 THB/share

APPENDICES 2018 2019-2020

Page 26 GLAND’s Portfolio Continued progress with development plan at key locations

Residential DASHBOARD Office Buildings The Ninth Tower Unilever House G Tower Bell Grand Rama 9

NLA (sqm.) 62,699 NLA (sqm.) 18,527 NLA (sqm.) 67,440 Total Units 1,991 OVERVIEW Occ. Rate 94% Occ. Rate 100% Occ. Rate 91% % Transf. 98% Retail NLA 5,692 Retail NLA 3,717 Retail NLA 6,247 Retail NLA 10,288 Retail OR 49% Retail OR 61% Retail OR 80% Retail OR 69% Land bank in prime locations of Bangkok 85-rai land at Don Muang STRATEGY

25-rai land on Kampangpetch Rd.

UPDATES

48-rai land at Paholyothin Bayswater Co., Ltd. GLAND

23-rai land at Rama 9

APPENDICES

Page 27 Information as of September 30, 2019; Occupancy rates at end of period; residential units sold are cumulative as of end of period End of Presentation Thank you for your kind attention!

DASHBOARD

For more information, please contact:

Investor Relations Department OVERVIEW Central Pattana Public Company Limited

STRATEGY Central Pattana Public Company Limited 31st Fl, the Offices at CentralWorld 999-9 Rama I Rd., Patumwan District [email protected] Bangkok 10330 @ Thailand

UPDATES +662 667 5555 ext. 1614, 1632 or 1688 http://www.cpn.co.th Facsimile: +662 264 5593

GLAND

APPENDICES

Page 28 Property Develoment Portfolio (1/2) Retail and mixed-use properties in BMA

Transferred to Other developed or managed DASHBOARD CPNREIT projects in same area by CPN Retail Property Name Open Land Invest. NLA % of Lease Food Office Hotel Resid. Conv. (Expire) (MTHB) (sqm) area expire Center Hall CentraPlaza Lardprao 1982 L(2028) 4,509 45,518   CentralPlaza Ramindra 1993 L(2023) 664 17,125 OVERVIEW CentralPlaza Pinklao 1995 L(2027) 3,045 63,189 42% 2027   CentralPlaza Rama 3 1997 F 2,035 54,354 81% 2045  CentralPlaza Bangna /A 2001 F 5,782 64,163    CentralPlaza Rama 2 2002 L(2055) 9,121 91,835 96% 2025   STRATEGY CentralWorld /A 2002 L(2040) 14,350 196,674   CentralPlaza Rattanathibet /A 2003 F&L 2,368 76,917  (2034) CentralPlaza Chaengwattana 2008 F 5,409 65,476    CentralPlaza Grand Rama 9 2011 L(2040) 5,172 59,085  UPDATES CentralPlaza Salaya 2014 F&L 2,609 38,738  (2044) CentralPlaza WestGate 2015 L(2043) 7,052 78,657   CentralFestival EastVille 2015 F&L 3,880 36,049  GLAND (2045) CentralPlaza Mahachai 2017 F 2,803 24,363  Central Village 2019 F 2,583 19,987 

APPENDICES Source: CPN Annual Report 2018 ; Information as of December 31, 2018 /A = acquired projects Land: F = Freehold, L = Leasehold, F&L = both ; Investment of each project is reported at cost Page 29 Net leasable area (NLA) excludes area invested by joint developer and convention hall Property Develoment Portfolio (2/2) Retail and mixed-use properties in provinces

Transferred to Other developed or managed DASHBOARD CPNREIT projects in same area by CPN Retail Property Name Open Land Invest. NLA % of Lease Food Office Hotel Resid. Conv. (Expire) (MTHB) (sqm) area expire Center Hall CentralMarina 1995 L(2035) 1,442 16,536  CentralPlaza Chiangmai Airport /A 1996 F 2,421 76,622 49% 2044   OVERVIEW CentralFestival Pattaya Beach 2009 F&L 4,500 57,469 50% 2037   (2038) CentralPlaza Udonthani /A 2009 F 4,614 71,796    CentralPlaza Chonburi 2009 F&L 3,131 39,128  (2027) STRATEGY CentralPlaza Khonkaen 2009 F 3,951 47,267    CentralPlaza Chiangrai 2011 F 2,016 26,252   CentralPlaza Phitsanulok 2011 F 1,590 26,474  CentralPlaza Suratthani 2012 F 2,245 31,022   UPDATES CentralPlaza Lampang 2012 L(2041) 1,145 19,709  CentralPlaza Ubonratchathani 2013 F 1,835 29,144  CentralFestival Chiangmai 2013 F 4,300 68,028   CentralFestival Hatyai 2013 F 4,917 66,801   GLAND CentralFestival Samui 2014 L(2043) 1,875 31,647  CentralPlaza Rayong 2015 F 2,685 29,466    Central Phuket - Festival /A 2015 L(2056) 8,152 47,547  - Floresta 2018 L(2056) 5,499 35,012 

APPENDICES CentralPlaza Nakhon Si Thamm. 2016 F 1,833 21,343  CentralPlaza Nakhon Ratchasima 2017 F 4,560 48,971    Page 30 CPN’s Asset Performance Summary High occupancy rates sustained for domestic malls

Land NLA(1)(2) (mn sqm) Occupancy Rate(1) DASHBOARD Retail No. of Freehold & Department Properties Projects Freehold Leasehold Retail Total 3Q18 2Q19 3Q19 Leasehold Store BMA 15 5 7 3 0.72 0.06 0.78 92% 93% 93%

Provinces 18 12 4 2 0.67 0.06 0.72 91% 89% 90%

Thailand 33 17 11 5 1.39 0.12 1.51 91% 91% 92% OVERVIEW Overseas 1 1 0.08 0.00 0.08 n/a 73% 74%

Total(1) 34 18 11 5 1.47 0.12 1.59 91% 90% 91%

NLA split by region Rent revenue split by region STRATEGY Overseas Overseas, 5% 1%

Provinces , 40% BMA, 58%

BMA Provinces UPDATES 49% 46%

GLAND (1) No. of Occupancy Rate (%) Non-core Properties NLA (sqm) Projects 3Q18 2Q19 3Q19 Office in BMA(1)(2) 5 56,174 94% 92% 92% Residential in BMA 1 1,568 21% 27% 27% Hotel in provincial area 2 561 rooms 83% 80% 81% APPENDICES (1) Counts Central Phuket (Floresta + Festival) as one project ; Excludes area transferred to CPNREIT, CPNCG and area under GLAND Page 31 (2) Excludes rental agreements < 1 year, such as kiosk, carts, ATMs and coin machines. CPN’s Financial Performance Same-store revenue growth consistently achieved within target

Total Revenue Operating Profit Normalized (LHS) and Net (RHS) Profit DASHBOARD MTHB MTHB MTHB Normalized Net profit Net profit 36,065 13,568 12,371 30,875 10,814 11,314 11,216 29,234 27,285 9,893 10,823 25,713 26,012 9,715 9,860 8,686 9,244 8,478 8,454 9,074 7,746 7,880 8,068 OVERVIEW

STRATEGY 2015 2016 2017 2018 9M18 9M19 2015 2016 2017 2018 9M18 9M19 2015 2016 2017 2018 9M18 9M19

% YoY Growth 2015 2016 2017 2018 9M18/3 9M19/3 Total revenues (Exc. non-recurring items) /1 9% 14% 6% 17% 13% 5% Operating profit (Exc. non-recurring items) 7% 19% 5% 9% 9% 1% UPDATES Normalized Net profit 7% 19% 7% 9% 10% (0%) Net profit 8% 17% 47% (17%) (23%) (7%)

Same store revenue growth 2% 2% 4% 3% 3% 3.2%/2

GLAND GP Margin (Exc. Other Income and non-recurring)(%) 48% 49% 50% 48% 51% 50% EBITDA Margin (Exc. non-recurring items) (%) 53% 54% 54% 51% 54% 54%

/1 Includes rental & services, hotel operation, food & beverages, real estate sales and other income. Excludes interest income and share of profit from joint ventures and associated companies

/2 Excludes Central Phuket Floresta, Central i-City, Central Village, CentralWorld, CentralPlaza Lardprao, CentralPlaza Chonburi and CentralPlaza Chiangrai, Central Phuket Festival, and CentralFestival Pattaya Beach. APPENDICES /3 Due to the adoption of TFRS 15 on January 1, 2019 onwards, total revenue, gross profit margin and EBITDA margin for the current and comparison periods have been adjusted to reflect the nature of the food center services business. Page 32 Total Revenue Strong growth achieved despite residential transfer drag

3Q19 total revenues /1 +5.6% YoY mainly contributed by DASHBOARD (THB mn) Rent and services +8.8% YoY 40,000 36,065 • Contributions from new shopping malls: Central Phuket 35,000 30,875 29,234 Floresta, Central i-City and Central Village. 30,000 25,713 • Improved performances at malls under renovation: 25,000 +5.6% YoY CentralWorld, CentralPlaza Chiangrai and Chonburi. 20,000 • Strong performances of existing shopping malls, both in OVERVIEW 15,000 Bangkok Metropolitan Area and Provinces. 8,913 9,201 9,413 Food center services /2 +15.3% YoY 10,000 • New food centers opened in 2018 at Central Phuket 5,000 Floresta, Central village as well as renovated food court 0 from 3Q18 to 3Q19 at CentralWorld, CentralPlaza Rama 2015 2016 2017 2018 3Q18 2Q19 3Q19 3, Chiangrai and Chonburi. STRATEGY • Strong performances of existing food centers from continuous roll-out of Food Destinations. 3Q19 Breakdown Hotel operations +3.2% YoY • Lower overall occupancy rate due to higher Office 4% competition in the market. Real estate sales -26.4% YoY UPDATES F&B 2% • Lower number of unit transferred comparing to 3Q18 as Retail 78% Hotel 3% only ESCENT VILLE Chiangmai and Chiangrai have Management transferred in 3Q19. fee 2% Active marketing and promotional events throughout the year • Rent from shops Other income GLAND • Promotional Area 5% Collaboration with business partners, holding promotional (Events) campaigns to encourage more spending from local • Service income customers and cater for expanding foreign tourists visiting • Convention hall Residential 6% Thailand, are vital to the strong rental and services revenue • On site media performance throughout the year.

APPENDICES Note: /1 Includes revenues from residential projects and water & amusement park, and property management fees from CPNREIT & CPNCG. Excludes non-recurring items. /2 Changed from “Revenue from food and beverages sales” due to the adoption of TFRS 15 from January 1, 2019 onwards to better reflect the Page 33 nature of business of food center services. Cost of Operation Higher cost base mainly from new projects

(THB mn) 3Q19 total costs /1 +7.2% YoY mainly contributed by DASHBOARD 20,000 Cost of rent and services +11.1% YoY 17,579 • Higher operating and depreciation costs of newly 16,000 14,518 opened malls and renovated projects from 3Q18 to 14,041 3Q19, namely Central Phuket Floresta, Central i-City, 12,634 Central Village, CentralWorld, CentralPlaza Chiangrai 12,000 and Chonburi. +7.2% YoY OVERVIEW • Higher maintenance, repair and personnel expenses to 8,000 support the expansion of new shopping malls. • Higher utility cost, increased from newly opened malls 4,161 4,419 4,458 4,000 and completed renovation malls amidst the continuous rise in electricity Ft rate throughout 2019. Cost of food center services /2 +20.0% YoY 0 STRATEGY 2015 2016 2017 2018 3Q18 2Q19 3Q19 • Better cost management at existing food courts despite higher cost from newly opened food courts in 2018 and 2019 and renovated food court completion. 3Q19 Breakdown Cost of hotel operations +13.8% YoY • Mainly driven by adopting new accounting method of revenue recognition and increased in marketing UPDATES expenses to stimulate revenue generating. Cost of real estate sales -25.9% YoY Office 2% • Consistent with the lower number of unit transfers with Retail 85% F&B 2% gross profit margin maintained above. target Hotel 2% Continued focus on efficient cost management GLAND Residential Implementation of energy conservation initiatives at shopping 8% malls to yield lower electricity unit consumption, in face of rising unit cost, is actively carried out to maintain or increase overall gross profit margin.

APPENDICES Note: /1 Excludes non-recurring items. /2 Changed from “Cost of food and beverages sales” due to the adoption of TFRS 15 from January 1, 2019 onwards to better reflect the nature of business of food center services. Page 34 SG&A Expenses Breakdown Well-controlled cost level in dynamic environment

3Q19 SG&A expenses +2.4% YoY mainly contributed by DASHBOARD (THB mn) • Higher personnel expenses to support business expansion. 7,000 6,114 • An increase in rental expense incurred to CPNREIT for 6,000 the sublet of Hilton Pattaya, which includes the effect 5,066 from accounting adjustment from actual cash basis to 5,000 4,406 straight line basis. 4,030 OVERVIEW 4,000 +2.4% YoY • The amount also includes administrative expenses associated with GLAND’s operations. 3,000 1,684 2,000 1,598 1,637 Balancing overhead expenses with business plan 1,000 STRATEGY Close monitoring of operating performance and maintain 0 optimal SG&A expenses level according to business 2015 2016 2017 2018 3Q18 2Q19 3Q19 requirements with potential incremental savings from 1) synergy with Central Group in marketing activities and supply 3Q19 Breakdown chain management 2) preparing organizational readiness for future growth 3) value added from business collaboration with partners. UPDATES

Advertising & Promotion 20% GLAND Personnel Depreciation 48% 7% Rental Expense to REIT 5% Others 19%

APPENDICES

Page 35 Debt Analysis Lower cost of debt achieved despite higher debt principal

DASHBOARD Financing cost and average cost of debt 3Q19 Debt Breakdown

Long-term loan Short-term loan (THB mn) 29% 22% 800 1,2006% 6% OVERVIEW 677 700 633 1,0005% 5% 600 +103% YoY 509 418 8004% 4% 500 36,812 Short-term bond 3.89% 6% 400 364 3% THB mn 3.47% 600 3% 3.27% 300 3.23% 3.08% 3.20% 2.96% STRATEGY 2.81% 4002% 2% 200 236 224 2001% 110 1% 100 Long-term bond 43% - - 0% 0% 2014 2015 2016 2017 2018 3Q18 2Q19 3Q19 UPDATES Interest expenses RS: Weighted average cost of debt Fixed 54%

Floating 36,812 46% THB mn GLAND  Corporate credit  Senior unsecured AA debenture Stable Credit Rating Rating Outlook

APPENDICES Note: Weighted average interest rate was derived from interest expenses including interest capitalization for projects under development. Page 36 All borrowings at denominated in THB. Includes consolidation of GLAND’s debt at THB 8,102 mn Capital Structure Net D/E trends higher but still at comfortable level

DASHBOARD CPN’s net D/E ratios are historically below its debt covenant of 1.75x

(THB mn) (Times)

OVERVIEW 80,000 77,050 76,741 0.50 74,176 74,240 0.45 70,000 0.47 63,880 0.45 0.40 60,000 0.39 0.35 STRATEGY 53,005 0.37 0.35 50,000 46,801 0.28 0.29 0.30 41,748 40,000 37,545 36,812 0.25 30,398 29,785 0.20 UPDATES 30,000 22,623 0.15 20,000 16,019 0.10 17,904 9,529 10,000 4,326 3,143 0.05 3,773 3,204 5,361 0.07 3,067 2,740 2,262 GLAND 0 0.00 2014 2015 2016 2017 2018 1Q19 2Q19 3Q19

Cash & current investment Interest bearing debts Equity RS: Net D/E APPENDICES

Page 37 Impact of TFRS 15 Amendment to the recognition of F&B revenue and costs

DASHBOARD Under TFRS 15, revenue and cost of food center services is determined by whether or not the company acts as an agent or the principal in the transaction

AMOUNT FOR EXAMPLE ONLY BEFORE ADJUSTMENT AFTER REVENUE FROM FOOD & BEVERAGES SALES OVERVIEW 120 (70) 50 (AGENT)

REVENUE FROM FOOD CENTER SERVICES 30 - 30 (PRINCIPAL) STRATEGY

REVENUE FROM FOOD & BEVERAGES BUSINESS 150 (70) 80 COST OF FOOD & BEVERAGES SALES 70 (70) - UPDATES (AGENT)

COST OF FOOD CENTER SERVICES 10 - 10 (PRINCIPAL) GLAND

COST OF FOOD & BEVERAGES BUSINESS 80 (70) 10

GROSS PROFIT FROM F&B (FOOD CENTER SERVICES) 70 - 70 APPENDICES Note: The adoption of TFRS 15 : Revenue from Contracts with Customers, effective for the fiscal period starting January 1, 2019 onwards, replaced TAS 18 : Page 38 Revenue, which the company assumes significant risk and reward of ownership of the goods. Financial Statements Statement of Comprehensive Income

3Q 2Q 3Q YoY QoQ 9M 9M YoY DASHBOARD Unit: million THB 2018 2019 2019 (%) (%) 2018 2019 (%) Revenue from rent and services 7,104 7,664 7,726 9% 1% 20,698 22,878 11% Retail 6,869 7,319 7,384 7% 1% 20,117 21,838 9% Office 235 345 342 46% (1%) 582 1,041 79% Revenue from hotel operations 265 264 274 3% 4% 838 847 1%

OVERVIEW Revenue from food center services 181 224 209 15% (7%) 528 633 20% Revenue from real estate sales 818 485 602 (26%) 24% 2,385 1,229 (48%) Other income 853 563 603 (29%) 7% 1,872 1,743 (7%) Total revenues 9,221 9,201 9,413 2% 2% 26,320 27,330 4% Excluding non-recurring items 8,913 9,201 9,413 6% 2% 26,012 27,285 5% Cost of rent and services 3,628 4,045 4,019 11% (1%) 10,346 11,833 14% STRATEGY Retail 3,545 3,927 3,910 10% (0%) 10,131 11,493 13% Office 84 118 109 30% (8%) 215 340 58% Cost of hotel operations 83 92 94 14% 2% 250 286 14% Cost of food center services 83 98 100 20% 2% 232 286 23% Cost of real estate sales 466 284 345 (26%) 22% 1,375 704 (49%) UPDATES Total cost of operations 4,261 4,519 4,558 7% 1% 12,203 13,108 7% Excluding non-recurring items 4,161 4,419 4,458 7% 1% 12,103 12,808 6% Selling, general and admin expense 1,598 1,815 1,637 2% (10%) 4,239 4,894 15% Operating profits 3,362 2,866 3,218 (4%) 12% 9,878 9,327 (6%) Excluding non-recurring items 3,154 3,098 3,318 5% 7% 9,670 9,713 0% GLAND Net finance cost/income tax/others 434 429 402 (7%) (6%) 1,192 1,260 6% Net profit 2,928 2,437 2,816 (4%) 16% 8,686 8,068 (7%) Excluding non-recurring items 2,720 2,669 2,916 7% 9% 8,478 8,454 (0%)

Earnings per basic share (THB) 0.65 0.54 0.63 (4%) 16% 1.94 1.80 (7%) Excluding non-recurring items 0.61 0.59 0.65 7% 9% 1.89 1.88 (0%) APPENDICES Note: Due to the adoption of TFRS 15 on January 1, 2019 onwards, revenue and cost of food center services for the current and comparison periods have been adjusted to reflect the nature of the food center services business (previously reported as revenue and costs of food and beverages). Page 39 Financial Statements Statement of Financial Position

End of 3Q End of FY End of 3Q YoY YTD DASHBOARD Unit: million THB 2018 2018 2019 (%) (%) Current assets Cash and current investments 2,682 3,067 2,262 (16%) (26%) Other current assets 11,600 12,235 14,056 21% 15% Total current assets 14,283 15,301 16,318 14% 7% OVERVIEW Non-current assets Investment properties (1) 107,889 108,412 103,614 (4%) (4%) Leasehold rights 13,960 14,086 21,002 50% 49% Property & equipment (PP&E) 1,629 1,646 1,593 (2%) (3%) Other non-current assets 22,676 22,262 26,891 19% 21% STRATEGY Total non-current assets 146,154 146,407 153,100 5% 5% Total assets 160,437 161,708 169,418 6% 5% Current liabilities Interest-bearing debt - 1 year 12,009 10,876 9,651 (20%) (11%) Other current liabilities 12,732 13,737 12,289 (3%) (11%) UPDATES Total current liabilities 24,741 24,613 21,940 (11%) (11%) Non-current liabilities Interest-bearing debt 16,826 19,522 27,161 61% 39% Other non-current liabilities 43,396 43,397 43,575 0% 0% Total non-current liabilities 60,222 62,919 70,736 17% 12% GLAND Total liabilities 84,962 87,532 92,676 9% 6% Shareholders' equity Retained earnings - unappropriated 52,913 55,094 57,847 9% 5% Other shareholders' equity 22,561 19,082 18,894 (16%) (1%) Total shareholders' equity 75,474 74,176 76,741 2% 3%

APPENDICES (1) Investment Properties are booked at cost and depreciated with the straight-line basis over the life of the assets. The estimated fair value is THB 219,161 mn as of December 31, 2018 (stated in the disclosure notes to the audited 2017 financial statements no. 14 under “Investment Properties”). Page 40 Awards and Accolades Globally recognized for outstanding achievements

DASHBOARD consec. consec. years years 5 (2014-18) 4 (2015-18)

SET Thailand Sustainability Investment 2018 listing Member of Dow Jones Sustainability Indices confirms CPN’s commitment towards sustainable (DJSI) in 2018 showcases a track record of growth and focus on environmental, social and OVERVIEW excellence in performance, governance, governance (ESG) factors social and environmental development Sustainable Retail Property Developer and Manager

CentralPlaza STRATEGY consec. years Khonkaen (2014-18) 5 CentralFestival Top-Class Accredited Chiangmai Thailand’s Top Brand and Energy Corporate Brands Thailand Energy UPDATES 2018 for property development Management Conserver Awards 2018 honors CPN on sector in recognition of the most developing and promoting energy widely regarded brand amongst conservation retail facilities at 2 customers, investors and the shopping centers. general public.

GLAND Best CEO – SET Awards 2018 Drive Award 2018 – Finance Excellence Mr. Preecha Ekkunagul, President & CEO of CPN was awarded the “Best CEO 2018” at Sponsored by , the SET Awards 2018, in recognition for was given to the top Thai company that having demonstrated outstanding demonstrated excellence in financial performances in the company’s business, leadership, performance, strategy and strategic vision and sustainable management. APPENDICES development

Page 41 CPN Shares Trading Statistics As at end of 3Q19

DASHBOARD CPN Ownership Structure Other 16% Top ten shareholders % own Central Holding Co. Ltd. 26.21 Thai NVDR Co. Ltd. 6.08 % ownership in CPN by investor group out of SOUTH EAST ASIA UK (TYPE C) NOMINEES 3.21 OVERVIEW STATE STREET EUROPE LIMITED 3.03 Central Group* Social Security Office 2.14 4,488 53% BBHISL NOMINEES LIMITED 2.10 Foreign million total shares BANK OF SINGAPORE LIMITED-SEG 1.77 Institution s STRATEGY CREDIT SUISSE AG, HONG KONG BRANCH 1.67 31% * Held by Central Holding UBS AG SINGAPORE BRANCH 1.47 Co. (26%) and Chirathivat BANK OF SINGAPORE LIMITED-THB SEG AC 1.29 family members (27%)

Key Trading Statistics as of 3Q19 Dividend History UPDATES

Key Metrics THB Key Metrics 2018 2017 2016 2015 2014 2013 Par Value 0.50 Par Value (THB) 0.50 0.50 0.50 0.50 0.50 0.50(1) Share Price (THB) 68.00 Dividend (THB/Share) 1.10 1.40 0.83 0.70 0.65 0.55 LTM EPS diluted (THB) 2.36 GLAND Dividend Paid P/E (x) 28.32 4,937 6,283 3,725 3,142 2,917 2,468 (THB mn) P/BV (x) 4.65 Dividend Payout 44% 46% 40% 40% 40% 39% Dividend Yield (%) 1.62% Ratio Market Capitalization (THB bn) 305.18 Dividend policy: paid annually approximately 40% of net profit Authorized Share Capital (mn shares) 4,488 APPENDICES (unless there is compelling reason against this). Page 42 Source: SETSMART as of September 30, 2019 Note 1: Par split from THB 1.00 to THB 0.50 per share effective on May 7, 2013 CPNREIT and CPNCG Asset performance summary

DASHBOARD On December 1, 2017, CPNRF was converted into CPNREIT, which also leased additional assets in CentralFestival Pattaya Beach and Hilton Pattaya. At the end of 4Q17, CPNREIT has five retail properties and two office towers in its portfolio, with CPN REIT Management Co., Ltd., as the REIT manager and CPN as the property manager.

CPNCG was established in September 2012 and currently owns one office with SCB Asset Management

OVERVIEW Co., Ltd. as the fund manager and CPN as the property manager.

Remaining Life Leasable Area(1) Occupancy Rate (%) (2) CPNREIT Properties (years) (sq.m.) 3Q18 2Q19 3Q19

Rama 3 (Retail) 75 Yr & 10 M 36,505 94 97 96 STRATEGY Rama 2 (Retail) 5 Yr & 10 M 82,571 94 95 96

Pinklao (Retail) 5 Yr & 3 M 27,656 99 96 99

Chiangmai Airport (Retail) 27 Yr & 7 M 37,775 92 95 94

UPDATES Pattaya Beach (Retail) 17 Yr & 10 M 29,404 98 98 98

Pinklao Tower A & B (Office) 5 Yr & 3 M 34,320 89 90 89

Total NLA and Occupacy Rate for Retail and Office 248,232 94 95 95

Hilton Pattaya (Hotel) 17 Yr & 10 M 302 rooms 92 90 89 GLAND

Remaining Life Occupancy Rate (%) (2) CPNCG Office Property Leasable Area(1) (sq.m.) (years) 3Q18 2Q19 3Q19

CentralWorld (Office) 14 Yr 81,672 99 99 99 APPENDICES Note 1: Includes rental agreements < 1 year such as kiosk, carts, ATMs and coin machines and CPN acts as the property manager. Page 43 Note 2: Percentage based on leasable area. GLAND Office Leasehold REIT (GLANDRT) Asset performance summary

DASHBOARD On April 19, 2017, GLAND Office Leasehold REIT (GLANDRT) was established to invest in the leasehold of office buildings, namely The Ninth Towers and Unilever House, located in the Grand Rama 9 area of Bangkok. The total investment size was approximately 6 billion THB and GLAND, the lessor of the properties, owns approximately 15% of GLANDRT.

GLAND and its subsidiary, Sterling Equity Co., Ltd., are the property managers. GLAND is also the REIT

OVERVIEW manager through its wholly-owned subsidiary, GLAND REIT Management Co., Ltd. Following the acquisition of 67.53% of shares in GLAND in 2018, CPN ultimately assumes the roles of the property manager and REIT manager through its direct and indirect subsidiaries.

STRATEGY

UPDATES

The Ninth Towers Unilever House

(2) Remaining Life Leasable Area(1) Occupancy Rate (%) GLAND Office Properties GLAND (Year) (sqm) 3Q18 2Q19 3Q19

The Ninth Tower (A&B) 27 Yr & 10 M 62,805 95 94 95

Uniliver House 15 Yr & 6 M 18,527 100 100 100

Total NLA and Occupancy Rate for Offices 81,332 96 95 96

APPENDICES Note 1: Office space only (excludes area of retail podium) ; Includes rental agreements < 1 year such as kiosk, carts, ATMs and coin machines. Page 44 Note 2: Occupancy rate reported from 3Q18 onwards following CPN’s majority ownership in GLAND during the period.