CentralCentral PattanaPattana Plc.Plc. Property Development & Investment Opportunity Day Presentation : 2Q 2009 The Stock Exchange of Thailand, 25th August 2009 1 Important Notice 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 Central Pattana 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. 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. 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 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. 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. 2 Content Business Highlights Operations Developments Financial Highlights Appendix 3 Business Highlight 2Q 2009 Business Highlights Leading Position in Bangkok Retail Space (2) CentralPlaza Chaengwattana opened on 27 Nov 08. CentralFestival Pattaya Beach launched on 23 Jan 09. CPN CentralPlaza Udon Thani was acquired on 8 April 09. 24% CentralPlaza Chonburi commenced on 29 May 09. The Mall Group 11% CentralPlaza Khon Kaen sales progress (retail space) reached Development Future Park Rangsit 76%. The shopping complex is scheduled to open in Dec 09. 5% Siam Paragon Others 5% 36% Seacon Square (1) 2Q 2009 total revenue grew by 31% y-o-y to 2,978 MB, from 5% MBK four new projects - CentralPlaza Chaengwattana, CentralFestival 2% Siam Future Seri Center Fashion Island 6% Pattaya Beach, CentralPlaza Udon Thani, and CentralPlaza 2% 4% Chonburi. 2Q 2009 net profit increased by 13% y-o-y to 587 MB, from additional operating costs and depreciation and amortization of (3) Financial Shareholder’s Value Appreciation the new projects in addition to higher sub-lease payment of 3 Years CPN share price compared to SET Index and Property Index CentralPlaza Lardprao after a renewal of its sub-lease (based price on year 2005) agreement. Index 450 Occupancy rate of retail properties stood at 96%, remained 400 SET PROP CPN unchanged from last quarter. The occupancy rate of new 350 projects, CentralPlaza Udon Thani, and CentralPlaza Chonburi., 300 stood at 100% and 83%, respectively. 250 Effective retail rental rate averaged 1,251 Bt/sqm/month. 200 Excluding the four new projects, effective rental rate averaged 150 1,293 Bt/sqm/month, up 1.5% y-o-y. 100 Operation 50 Occupancy rate of office properties stood at 85%, reflected a - low take-up rate at the initial stage of the new Chaengwattana’s office (opened in Mar 09). Jul-05 Jul-06 Jul-07 Jul-08 Jan-05 Apr-05 Oct-05 Jan-06 Apr-06 Oct-06 Jan-07 Apr-07 Oct-07 Jan-08 Apr-08 Oct-08 Jan-09 Apr-09 Note 1: Total Revenue includes rental & service, hotel operation, food & beverage, and other incomes. Excluding interest income and share of profit from investment. 5 Note 2: Based on 4Q06 CB Richard Ellis’s report and company’s estimate as of June 09. Note 3: Retrieved information from SET as of 30 June 09. Operations Operation Performance: Retail As at 2Q09, 9 of 14 CPN’s shopping centers are located in Bangkok Metropolitan Area (BMA) and its vicinities. The other 5 centers are located in provincial areas. Bangkok Metropolitan & its vicinity Areas Leaseable No.of Occupancy Rate (2) CPN Retail Develop- Land area (1) Tenants Properties ment Ownership 2Q09 1Q09 2Q08 (sqm) 2Q09 (1) 1. Ladprao Greenfield Leasehold 55,583 349 97% 97% 99% 2. Ramindra Greenfield Leasehold 17,159 78 100% 99% 99% 3. Pinklao Greenfield Leasehold 54,220 264 98% 97% 91% 4. Rama 3 Greenfield Freehold 18,192 68 100% 99% 100% 5. Bangna Acquisition Freehold 57,533 301 98% 98% 98% 6. Rama 2 Greenfield Leasehold 5,937 34 100% 100% 100% 7. Rattanatibet Acquisition Freehold 77,244 227 97% 98% 98% 8.CentralWorld Acquisition Leasehold 184,592 475 97% 97% 91% 9.Chaengwattana Greenfield Freehold 65,613 402 93% 92% n/a Opened in Nov 08. Target occupancy rate of 95% at the end of 2009. CPN Portfolio in BMA 536,073 2,198 97% 97% 95% Note 1: Excluding rental agreements < 1 year, such as kiosk, carts, ATMs and coin machines. Note 2: Percentage based on leaseable area. 7 Operation Performance : Retail (Con’t) Provincial Areas Leaseable No.of Occupancy Rate (2) CPN Retail Develop- Land area (1) Tenants Properties ment Ownership 2Q09 1Q09 2Q08 (sqm) 2Q09 (1) 1. Pattaya Center Greenfield Leasehold 15,225 135 99% 100% 100% 2. Chiangmai Acquisition Freehold 76,108 533 99% 99% 99% Opened in Jan 09. Target occupancy rate 3. Pattaya Festival Greenfield Freehold 56,020 307 89% 88% n/a of 95% at the end of 2009. 4. Udon Thani Acquisition Freehold 49,354 185 100% n/a n/a Acquired in Apr 09. 5. Chonburi Greenfield Freehold 39,503 242 83% n/a n/a Opened in May 09. Target occupancy rate of 92% at the end of 2009. CPN Portfolio in Provinces 236,210 1,402 94% 95% 99% Total CPN Portfolio for Retail Properties 772,283 3,600 96% 96% 95% CPNRF Properties CPNRF Retail Properties 1. Rama 2 Greenfield Leasehold 93,338 321 99% 99% 96% Please see CPNRF. 2. Rama 3 Greenfield Freehold 39,975 226 96% 96% 94% Please see CPNRF. Total CPNRF Portfolio 133,313 547 98% 98% 98% Note 1: Excluding rental agreements < 1 year, such as kiosk, carts, ATMs and coin machines. Excluded leaseable area of newly opened CentralFestival Pattaya Beach . Note 2: Percentage based on leaseable area. Note 3: Leaseable area of Rama II and Rama III, which are under CPNRF, include rental agreements < 1 year such as kiosk, carts, ATMs and coin machines 8 and CPN acts as the property manager. Operation Performance : Office Leaseable No.of Occupancy Rate (2) Develop- Land Office area (1) Tenants ment Ownership 2Q09 1Q09 2Q08 (sqm) 2Q09 (1) 1. Ladprao Greenfield Leasehold 17,719 55 96% 97% 99% 2. Pinklao A Greenfield Leasehold 22,426 45 93% 92% 94% 3. Pinklao B Greenfield Leasehold 11,334 38 87% 92% 89% 4. Bangna Acquisition Freehold 10,007 25 92% 92% 100% 5. CentralWorld Acquisition Leasehold 82,796 102 94% 95% 94% Opened in Mar 09. Target occupancy rate 6. Chaengwattana Greenfield Freehold 19,462 15 20% 8% n/a of 50% at the end of 2009. Total 163,744 280 85% 84% 95% Note 1: Including retail space. Excluding storage. Note 2: Percentage based on leaseable area. 9 Operation Performance : Residential & Hotel Leaseable area (1) Occupancy Rate (2) Residential (sqm) 2Q09 1Q09 2Q08 1. Bangna 1,907 47% 55% 61% Strata title, Asset for sales 2. Langsuan 4,466 74% 75% 75% Furnished apartment Total 6,373 66% 69% 71% No. of Occupancy ARR Rev Par Hotel Available Room Rate % (Bt/night) (Bt/night) 1. Centara Acquired in Apr 09. 255 83% 888 737 Udon Thani Managed by Centara Hotel Total 255 83% 888 737 Note 1: Including retail space. Excluding storage. Note 2: Percentage based on leaseable area. 10 Contract Types Fixed Rent Long-term Lease Monthly basis collection 53% Up-front collection (up to 3 years) (up to 20 years) • Increase rental rate by 25% • Up-front payment realize approx 5% p.a. throughout lease contract • Approx. 1/3 of rental contract 22% period on straight line basis expires every year % of Sales Monthly basis collection (up to 3 years) Note: • Tenants: Food centers, Cineplex and On top of space rental fee, international brands such as “Mac Donalds, service & utility fees are collected and KFC ...” realized on monthly basis • Percentage ranges from 10% - 30% of sales • Includes minimum guarantees Note 1: Percentage based on occupied area. Source: Company estimates as of 30 June 2009. 11 Effective Rental Rate (for Retail Tenants) 2Q09 Effective Rental Rate Growth for Same Spaces of 1.5% yoy /1 For 2Q09, effective rental rate for retail space averaged 1,251 Bt/sqm/month, including all projects. Excluding the newly opened CentralPlaza Chaengwattana, CentralFestival Pattaya Beach, CentralPlaza Udon Thani, and CentralPlaza Chonburi 2Q09 effective rentral rate averaged 1,293 Bt/sqm/month, up 1.5% yoy. y yo 1. % .4% 8% .5 1,350 7 yoy 1 GR CA 1,293 1,300 1,274 1,274 1,259 1,251 1,250 1,220 1,200 1,164 1,150 1,100 1,040 1,050 1,000 Bt per sqm per month per sqm per Bt 945 950 900 850 800 2004 2005 2006 2007 2008 2Q08 2Q09 2Q08 2Q09 All Projects Excluding four newly opened projects/2 Note 1 : The figures are effective rental rates for retail tenants with space < 1,000 sqm and net of special discounts given to groups of tenants at CentralWorld and the newly opened CentralPlaza Chaengwattana, CentralFestival Pattaya Beach, and CentralPlaza Chonburi projects during the initial stage.