Investor Presentaiton

CPN (THB mn) 16,000 14,041 12,634 11,616 12,000 10,542 8,000 4,000 Cost Breakdown +3% YOY 14,518 2017 FY17 total costs +3% YoY mainly contributed by Cost of rent and services +2% YoY • Full year recognition of operating and depreciation costs of new and renovated projects in 2016: CentralPlaza Nakhon Si Thammarat, CentralMarina and CentralPlaza Pinklao, as well as operating and depreciation costs of newly opened projects in 2017: CentralPlaza Nakhon Ratchasima and CentralPlaza Mahachai. • • Higher maintenance, repair and personnel expenses to support the expansion of new shopping malls Higher energy efficiencies at shopping malls result in reduction of utility costs by approx. 3% YoY Cost of hotel operations +6% YOY • In line with revenues of hotel business mainly from effective cost management and control in the operations Cost of F&B sales +18% YoY . Higher from newly opened and renovated food courts launched in 2016 and 2017 0 2013 2014 2015 Retail Office ■F&B 2016 ■ Hotel ■ Others 2017 Breakdown Office 2% Hotel Continued focus on efficient cost management Implementation of energy conservation initiatives at shopping 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. F&B 9% Retail 87% Note: Excludes non-recurring items. Prepared by CPN Investor Relations 2% Appendices Page 38

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