Central Pattana Plc. Property Development and Investment

Corporate Presentation: 3Q12 Performance Review

Central Suratthani

CentralPlaza Suratthani

2

Disclaimer

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.

Note: All currency figures within this presentation are presented in Thai Baht unless otherwise stated.

Agenda

► Company Overview

► Operations

► Future Developments

► Financial Highlights

Company Overview

3Q12 Overview

Operations

• CentralPlaza Suratthani resumed its operations on October 11, 2012 an Occupancy Rate of approximately 93%. • Shopping centers achieved 3Q12 same store effective rental rate +12% yoy (1).

Financials

– Overall performance :

– 3Q12 Revenues + 42% yoy

– 3Q12 Operating Profit +150% yoy

– 3Q12 Net Profit +220% yoy

– 3Q12 Net Profit (Include non-recurring) +632% yoy

– For a same store basis(1) :

– 3Q12 Revenues +11% yoy

– Net D/E stood at 0.88 times.

•

Expansion

– CentralPlaza Lampang will be launched on November 30 with approximately 90%

occupancy rate.

– Development of future projects – CentralPlaza Ubonratchathani and CentralFestival

Hatyai and CentralFestival Chiangmai is on progress.

Note 1:.Excludes CentralPlaza Udonthani, CentralPlaza Lardprao, CentralPlaza Pitsanulok, and CentralPlaza Grand Rama9.

5

Operational Performance

7

Property Locations

Existing Projects:

Shopping Centers: 19 World Format 1 (BMA)

Plaza Format 16 (9 - BMA)

(7 - Province)

Center Format 1 (Province)

Festival Format 1 (Province)

Offices: 7 (BMA) Hotel: 2 (Province)

Pipeline Projects:

Shopping Centers:

BMA

- Suan Lumpini (Pre-Cadet School)

Provinces

- Lampang

- Ubonratchthani

- Hatyai (Songkla)

- Chiangmai

Pure-managed (CPNRF)

Equity-owned (CPN)

Thailand

Bangkok Metropolitan Area (BMA)

Note : As of 30 September 2012.

Under construction

8

Leasable Area and Occupancy: Bangkok Retail

Retail Properties in BMA

As of 3Q12, CPN manages 18 premium shopping centers – 10 in Bangkok Metropolitan Area (BMA) and its vicinities

and 8 in provincial areas. In 3Q12, occupancy of the BMA shopping centers stood at 97%.

Note 1: Excludes rental agreements < 1 year, such as kiosk, carts, ATMs and coin machines. Note 2: Percentage based on leaseable area. Note 3: Excludes areas transferred to CPNRF.

Under renovation.

Opened in Dec11.

Underwent a major

renovation during

May 10 – Nov 11.

CPN Retail Properties

Develop-ment

Land Ownership

Leaseable area(1) (sqm) Occupancy Rate (2)

Retail Department

Store Total 3Q12 2Q12 3Q11

1. Lardprao Greenfield Leasehold 48,140 - 48,140 100% 100% 97%

2. Ramindra Greenfield Leasehold 17,156 - 17,156 100% 100% 98%

3. Pinklao (3) Greenfield Leasehold 35,575 - 35,575 100% 100% 99%

4. Rama 3 (3) Greenfield Freehold 18,192 - 18,192 85% 100% 100%

5. Bangna Acquisition Freehold 58,112 - 58,112 91% 96% 95%

6. Rama 2 (3) Greenfield Leasehold 5,937 - 5,937 100% 100% 100%

7. Rattanathibet Acquisition Freehold 59,680 17,558 77,238 100% 98% 98%

8. CentralWorld Acquisition Leasehold 141,029 18,970

187,054 98% 98% 88% 27,055

9.Chaengwattana Greenfield Freehold 64,458 - 64,458 95% 95% 96%

10.Grand Rama 9 Greenfield Leasehold 59,505 23,432 82,937 99% 99% n/a

CPN Portfolio in BMA 507,784 87,015 594,799(4) 97% 98% 94%

9

Leasable Area and Occupancy: Provincial Retail

8 shopping centers are strategically located in high traffic growth areas in provinces.

Occupancy rate in 3Q12 averaged 98%.

Retail Properties in Provincial Areas

Note 1: Excludes rental agreements < 1 year, such as kiosk, carts, ATMs and coin machines. Note 2: Percentage based on leaseable area. Note 3: CentralPlaza Suratthani opened in October 2012 with an occupancy rate 93%

Opened in Oct 11.

CPN Retail Properties

Develop-ment

Land Leaseable area (1) (sqm) Occupancy Rate (2)

Ownership Retail Department

Store Total 3Q12 2Q12 3Q11

1. Pattaya Center Greenfield Leasehold 15,226 - 15,226 97% 97% 93%

2. Chiangmai Acquisition Freehold 45,140 30,751 75,891 99% 98% 99%

3. Pattaya Festival Greenfield Freehold 57,161 - 57,161 96% 96% 97%

4. Udonthani Acquisition Freehold 45,196 23,640 68,836 99% 98% 91%

5. Chonburi Greenfield Freehold 40,386 - 40,386 96% 94% 96%

6. Khonkaen Greenfield Freehold 50,146 - 50,146 95% 96% 93%

7. Chiangrai Greenfield Freehold 21,459 - 21,459 98% 98% 98%

8. Phitsanulok Greenfield Freehold 24,974 - 24,974 100% 100% n/a

CPN Portfolio in Provinces 299,688 54,391 354,079 98% 97% 96%

Total CPN Portfolio for Retail Properties 807,472 141,406 948,878 98% 98% 95%

Underwent a major renovation

during Jun 11 – Mar 12.

10

Leasable Area and Occupancy: Office

Note 1: Excludes storage. Note 2: Percentage based on leaseable area.

Office Develop-

ment

Land

Ownership

Leaseable

area (1)

(sqm)

Occupancy Rate (2)

3Q12 2Q12 3Q11

1. Lardprao Greenfield Leasehold 16,250 96% 99% 22%

2. Bangna Acquisition Freehold 10,007 94% 97% 99%

3. CentralWorld Acquisition Leasehold 82,796 98% 97% 89%

4. Chaengwattana Greenfield Freehold 19,867 84% 85% 56%

5. Grand Rama 9 Greenfield Leasehold 13,163 95% 94% n/a

Total 142,082 96% 95% 76%

Opened in Dec 11.

Office property is considered as non-core business, complementing shopping center business and adding value to the

overall project. As of 3Q12, CPN owned five office towers located in BMA with an average occupancy rate of 96%.

Completed its major renovation in 1Q11.

Divested to CPNCG in Sep 12.

11

Occupancy: Residential and Hotel

Residential Leaseable area (1)

(sqm)

Occupancy Rate (2)

3Q12 2Q12 3Q11

1. Bangna 1,907 47% 47% 49%

2. Langsuan 4,466 61% 65% 64%

Total 6,373 57% 60% 60%

50-unit furnished apartment.

Strata title. Asset for sales.

Hotel

No. of

Available

Room

Occupancy Rate %

3Q12 2Q12 2Q11

Centara Udonthani 259 56% 53% n.a

Hilton Pattaya 302 63% 76% 59%

Total 561 60% 66% 59%

Closure for refurbishment during Jun 11 – Dec 11. Managed by Central Plaza Hotel Plc.

Residential

Hotel

Residential property and hotel are non-core businesses. These businesses complement that of the

shopping center and add value to the project.

Note 1: Includes retail space. Excludes storage. Note 2: Percentage based on leaseable area.

Launched in Dec 10. Managed by Hilton Hotel Corporation

12

Operation Performance: CPNRF

Note 1: Includes rental agreements < 1 year such as kiosk, carts, ATMs and coin machines and CPN acts as the property manager. Note 2: Percentage based on leaseable area.

In 3Q12, CPN Retail Growth Leasehold Property Fund (“CPNRF”) owns three shopping centers and two office towers.

CPNRF is managed by SCB Asset Management, Fund Manager. Its properties are managed by CPN, Property Manager.

CPNRF Retail

Properties

Develop-

ment

Land

Ownership

Leaseable

area (1)

(sqm)

Occupancy Rate (2)

3Q12 2Q12 3Q11

1. Rama 2 Greenfield Leasehold 88,945 100% 99% 100%

2. Rama 3 Greenfield Freehold 37,053 99% 100% 96%

3. Pinklao Greenfield Leasehold 21,706 99% 98% 94%

CPNRF Retail Properties 147,704 100% 99% 98%

CPNRF Office

Properties

Develop-

ment

Land

Ownership

Leaseable

area (1)

(sqm)

Occupancy Rate (2)

3Q12 2Q12 3Q11

Pinklao Tower

A & B Greenfield Leasehold 33,760 97% 98% 97%

CPNRF Portfolio 181,464 99% 98% 97%

13

Rental Contract Type : By Area

Note1: Percentage based on occupied area. Source: Company estimate as of 30 September 2012.

• Increase rental rate approx 5% p.a.

• Approx. 1/3 of rental contract expired every year

(up to 3 years) Monthly basis collection

• Tenants: food centers, cineplex and international brands such as “McDonalds”, “KFC”

• Range of percentage: 10% - 30% of sales

• With minimum guarantees

(up to 3 years) Monthly basis collection

(up to 30 years) Up-front collection

• Up-front payment – realize throughout lease contract period on straight-line basis

Note: On top of space rental fee, service & utility fees are collected on a monthly basis

Long-term lease28%

Fixed rent

48%

% of Sales24%

Same store rental rate of new malls (2)

14

Effective Rental Rate (1)

Note 1 : The figures are effective rental rates for retail tenants (occupied space < 1,000 sqm) and net of special rental discounts. Note 2 : Malls which have been operating less than 3 - 4 years – CentralPlaza Chaengwattana, CentralFestival Pattaya Beach, CentralPlaza Udonthani,

CentralPlaza Chonburi, CentralPlaza Khonkaen, and newly launched malls opened in 2011. Note 3 : CentralPlaza Udonthani, CentralPlaza Phitsanulok, and CentralPlaza Grand Rama 9. Source: Company estimate as of 30 September 2012.

Excludes CentralPlaza Udonthani,

CentralPlaza Lardprao,

and new malls launched in 2H 2011

All projects

Same store rental rate of matured malls

Excludes , CentralPlaza Lardprao, and malls

launched during 2008-2012 (2)

Excludes CentralPlaza Udonthani,

malls launched in 2H 2011 (3)

Overall effective rental rate declined in 2009 – 2011 from new malls in provinces. 3Q12 same store rental rate grew 12% y-o-y.

1,298

1,443

1,253

1,422

600

800

1,000

1,200

1,400

1,600

3Q11 3Q12 9M/11 9M/12

(Bt/sm/mth)

1,109

1,233

1,128

1,236

600

800

1,000

1,200

1,400

3Q11 3Q12 9M/11 9M/12

(Bt/sm/mth)

1,274 1,254 1,225

1,248

1,430 1,441

1,455

1,218

1,369

1,206

1,356

800

1,000

1,200

1,400

1,600

(Bt/sm/mth)

Same Store

Rental + 12% YoY

15 .Source: Company estimate as of 30 September 2012.

Expiration of Long term lease contract (1)

Long term lease contract will be expired in each following year from now. At that day, these area will be converted to short term contract at market rental rate which could be increased the company’s revenues.

The expiration area and expiration period are shown below :

Year Retail Anchor Retail + Anchor

2013 11,781 - 11,781

2014 5,497 25,956 31,453

2015 23,464 - 23,464

2016 4,573 - 4,573

2017 4,556 26,270 30,826

2018 4,414 - 4,414

2019 7,150 18,970 26,120

2020 359 27,056 27,415

2021 onward 45,204 24,919 70,123

Total 106,996 123,171 230,167

Future Developments

17

Secured Future Locations

CentralPlaza Ubonratchathani

NLA: 25,300 sqm

Opening in 2Q 2013

CentralFestival Chiangmai

NLA: 46,700 sqm

Opening in 4Q 2013 CentralPlaza Lampang

NLA: 16,100 sqm

Opening in 30 Nov 2012

Note: As of 30 September 2012.

CentralFestival Hatyai

NLA: 50,100 sqm

Opening in 4Q 2013

18

CentralPlaza Lampang

Project Highlights

Investment Cost (1) 1,100 MB

Program

Shopping Center (N.L.A.) 16,100 sqm (2)

Parking (G.A) 800 cars

Joint- Developer Robinson Department Store (3)

Location

Construction Progress

39 rais, Lampang Province

North of Thailand

92% of construction (As of Oct 12)

Opening 30 Nov 2012

Note1: Includes land and construction cost of shopping center and parking building. Excludes those of department store. Note2: Excludes CRC’s area (Robinson Department Store). Note3: Area will be developed and owned by the joint developer. However the store will be magnet to draw traffic into CPN’s plaza area.

19

CentralPlaza Ubonratchathani

Project Highlights

Investment Cost (1) 1,800 MB

Program

Shopping Center (N.L.A.) 25,300 sqm (2)

Parking (G.A) 1,500 cars

Joint- Developer Robinson Department Store (3)

Location

76 rais, Ubonratchathani Province

Northeast of Thailand

Construction Progress 42% of construction (As of Oct 12)

Opening (tentative) 2Q 2013

Note1: Includes land and construction cost of shopping center and parking building. Excludes those of department store. Note2: Excludes CRC’s area (Robinson Department Store). Note3: Area will be developed and owned by the joint developer. However the store will be magnet to draw traffic into CPN’s plaza area.

20

CentralFestival Hatyai Project Highlights

Investment Cost (1) 4,500 MB

Program

Shopping Center (N.L.A.) 50,100 sqm (2)

Multi-purposed Hall 4,800 sqm

Parking (G.A) 2,100 cars

Joint- Developer Central Department Store (3)

Location

Construction Progress

50 rais, Hatyai Province

South of Thailand

7% of construction (As of Oct 12)

Opening (Tentative) 4Q 2013

Note1: Includes land and construction cost of shopping center and parking building. Excludes those of Central Department Store. Note2: Excludes CRC’s area (Central Department Store). Note3: Area will be developed and owned by the joint developer. However the store will be magnet to draw traffic into CPN’s plaza area.

21

CentralFestival Chiangmai

Project Highlights

Investment Cost (1) 3,100 MB

Program

Shopping Center (N.L.A.) 46,700 sqm (2)

Parking (G.A) 1,500 cars

Joint- Developer Central Department Store (3)

Location 68 rais, Chiangmai Province

North of Thailand

Development Progress 5% of construction (As of Oct 12)

Opening (tentative) 4Q 2013

Note1: Includes land and construction cost of shopping center and parking building. Excludes those of Central Department Store. Note2: Excludes CRC’s area (Central Department Store). Note3: Area will be developed and owned by the joint developer. However the store will be magnet to draw traffic into CPN’s plaza area.

22

Future Leaseable Area & Occupancy Rate

Source: Company estimate as at 30 September 2012. Includes leaseable area of CentralPlaza Rama 2, CentralPlaza Rama 3, and CentralPlaza Pinklao which were partially transferred to CPNRF, but still under CPN’s management.

Assets under management 2006 2007 2008 2009 2010 2011 2012F 2013F 2014F 2015F

No.of project 10 10 11 15 15 18 20 23 27 30

Retail space (NLA in sqm) 684,587 697,038 761,111 967,430 964,612 1,085,774 1,142,350 1,264,450 1,419,450 1,537,450

Office space (NLA in sqm) 145,700 144,791 144,791 164,253 163,991 175,831 175,831 175,831 175,831 175,831

Hotel (rooms) 255 557 561 561 561 561 561

Residential (units) 62 62 62 62 62 62 62 62 62 62

23

Capital Expenditure Major capital expenditure will be used to develop new projects. Financing plan for future expansion includes: cash flow from operation, bond issuance and/or project finance, and property fund vehicle.

Source: Company estimate as of 30 September 2012. Note 1: Tentative development projects.

(Unit: MB)

3Q12 Financial Performance

8,282

9,271

11,755 11,388

12,766 13,089

3,158

4,432 4,495

2,404 2,991 3,112

2,442 2,620

4,499

619

1,541 1,550

1,569 2,158 2,292 1,552 1,871 3,478 389 1,171

1,242

5,079

2,843

0

2,500

5,000

7,500

10,000

12,500

15,000

2007 2008 2009 2010 2011 9M12 3Q11 2Q12 3Q12

(Bt.mil)

Total revenues Operating profit Net profit /1

25 Excludes non-recurring items.

Note1: Total Revenue includes rental & service, hotel operation, food & beverage, and other incomes.

Excludes interest income and share of profit from investment.

.

Financial Summary 6-mth closure

of CentralWorld

6-mth closure of

CentralPlaza Lardprao

Net profit inc. non-recurring

0

4,000

8,000

12,000

16,000

9M11 9M12 3Q11 2Q12 3Q12

(Bt.mil)

Other income Hotel F&B Office Retail

13,100

3,158 4,437 4,495

26

Revenues Breakdown

Excludes non-recurring income. Note1: Includes revenues from residential projects and water & amusement park, and property management fees from CPNRF.

Retail & office +44% YoY, mainly from:

• Strong increases in rental rates and decrease of discount at most of retail properties.

• Contributions from new projects – CentralPlaza Phitsanulok, CentralPlaza Grand Rama 9 – launched in 2011.

• The completion of CentralPlaza Udonthani expansion and renovation in March 2012

• The re-launch of CentralPlaza Lardprao in August 2011.

• Continuous improvement of CentralWorld.

Hotel revenues +70% YoY, due to re-launch

of Centara Hotel & Convention Center

Udonthani and continuous improvement of

Hilton Pattaya Hotel.

F&B sales +14% YoY from

• Higher sales at CentralFestival Pattaya Beach.

• Contributions from the new food centers at the CentralPlaza Udonthani and CentralPlaza Phitsanulok.

+42% YoY

+1% QoQ

9,216

Retail 82%

Office 5%

F&B 4%

Hotel 4%

Other income 5%

Retail

Office

F&B

Hotel

Other income

3Q12 Revenue breakdown

0

2,000

4,000

6,000

8,000

10,000

9M11 9M12 3Q11 2Q12 3Q12

(Bt.mil)

Others Hotel F&B Office Retail

6,855

1,893 2,300 2,370

5,718

27

Costs Breakdown

Note1: Excludes non-recurring items.

Cost of retail & office +19% YoY from:

• Costs of the newly launched projects.

• Higher amortizations of CentralPlaza Lardprao after renovation.

• Depreciations of the newly launched projects.

Cost of hotel business +61% YoY from the

increased income from hotel operations.

F&B costs +12% YoY from

• Higher F&B sales. The change in costs was in-line with that of F&B sales.

• Costs of the new food centers at the CentralPlaza Udonthani and CentralPlaza Phitsanulok.

+25% YoY

+3% QoQ

Retail 85%

Office 6%

F&B 6%

Hotel 3%

Others 0%

3Q12 Cost breakdown

0

500

1,000

1,500

2,000

2,500

3,000

9M11 9M12 3Q11 2Q12 3Q12

(Bt.mil)

Others Depreciation Advertising & promotion Personnel

1,632 1,782

553 608 593

28

SG&A Expenses Breakdown

Note1: Excludes non-recurring items.

Personnel expenses +14% YoY from:

• Increased number of employees to support business expansion and increased minimum based salary.

Advertising & promotion -10% YoY, due to

the effective cost management thru top-line

driven basis

+6% YoY

-2% QoQ

Personnel 50%

Advertising & promotion

15%

Depreciation 16%

Others 19%

3Q12 SG&A breakdown

581 543

745 688

874

235 254 336

5.5% 5.2%

4.7% 4.4% 4.3% 4.2% 4.4% 4.4%

0%

1%

2%

3%

4%

5%

6%

0

200

400

600

800

1,000

1,200

1,400

2007 2008 2009 2010 2011 3Q11 2Q12 3Q12

Interest expenses Weighted average cost of debt (RHS)

(Bt.mil)

29

Outstanding Borrowings 26,492mil (THAI BAHT)

/1

Debt Analysis

Financing Cost

Note 1 : Weighted average interest rate was derived from interest expenses including interest capitalization for projects under development.

Fixed vs. Floating Interest Rate Mix

Long-term bond 32%

Long-term loan 47%

Short-term bond 12%

Short-term loan 9%

Fixed 83%

Floating 17%

30

Capital Structure

CPN’s net D/E stood at 1 times, against its debt covenant of 1.75 times.

3,983 3,677 2,541 1,632 945 1,685 1,884

4,704

12,045

16,445 16,669

19,085

25,245 25,847 26,870 26,492

13,639 15,173

19,008 18,918 20,448

21,522 21,905 24,765

0.59

0.84 0.74

0.92

1.19 1.12

1.14

0.88

-

0.20

0.40

0.60

0.80

1.00

1.20

1.40

0

5,000

10,000

15,000

20,000

25,000

30,000

2007 2008 2009 2010 2011 1Q12 2Q12 3Q12

(Times)(Bt.mil)

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

31

Share Price Performance and Dividend

Par Value (Bt)

Stock Price (Bt)

FY12 core EPS (Bt/share) /1

P/E (Times)/1

EV/EBITDA (Times)/1

Market Capitalization (Bt bn.)

Share Capital (mil.shares)

1.00

60.00

1.96

35.1

21.4

130.7

2,178.8

Par Value (Bt)

Dividend (Bt/share)

Dividend Paid (Bt mil)

Dividend Payout Ratio

2011

1.00

0.37

806

39%

2010

1.00

0.25

545

48%

2009

1.00

0.58

1,264

25%/1

2008

1.00

0.33

719

33%

2007

1.00

0.33

719

40%

Remarks: Dividend policy is paid annually not less than 40% of net profit (unless there is a compelling reason against this).

Note 1: Dividend payout ratio of 25% in 2009 was derived from 40% of normal net profit and 14% of gain from transferring assets into CPNRF.

Dividend policy is 40% of normal net profit.

Source: Factset as of 30 September 2012. Note 1: Bloomberg’s consensus as of 7 November 2012.

Share overview

0.00

5,000,000.00

10,000,000.00

15,000,000.00

20,000,000.00

25,000,000.00

30,000,000.00

0

10

20

30

40

50

60

70

Sep-07 Sep-08 Sep-09 Sep-10 Sep-11 Sep-12

CPN Share Performance (5-Yr)

Volume (RHS) CPN Price (LHS)

(Baht/

share

)

Appendix

33

Balance Sheet

34

Income Statement

Consolidated earnings (MB) 3Q11 2Q12 3Q12 % YoY % QoQ

Change Change

Revenues from rental and service 2,710 3,792 3,915 44% 3%

Retail 2,511 3,549 3,666 46% 3%

Office 195 238 245 26% 3%

Other supportive businesses 5 5 4 (16%) (16%)

Hotel operations 100 163 170 70% 4%

Food & beverage sales 150 180 170 14% (5%)

Other income 198 298 239 21% (20%)

Total revenues 3,158 4,432 4,495 42% 1%

Costs of rental and service 1,817 2,085 2,157 19% 3%

Retail 1,676 1,930 2,003 19% 4%

Office 137 150 150 9% (0%)

Other supportive businesses 5 5 5 (2%) (2%)

Hotel operations 43 64 69 61% 8%

Food & beverage sales 128 151 144 12% (5%)

Total costs 1,988 2,301 2,370 19% 3%

Operating profit 619 1,541 1,550 150% 1%

Net profit 389 1,171 2,843 632% 143%

Net profit excluding non-recurring items 389 1,171 1,242 220% 6%

EPS (Bt) excluding non-recurring items 0.18 0.54 0.57 217% 6%

EPS (Bt) including non-recurring items 1.31

CPN Retail Growth Leasehold Property Fund

3rd Quarter 2012 Financial Results

21st November 2012

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 units in CPN Retail Growth Leasehold Property Fund (CPNRF and units in CPNRF, “Units”) 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 CPNRF operates and general achievement of CPNRF business forecasts, which will cause the actual results, performance or achievements of CPNRF to differ, perhaps materially, from the results, performance or achievements expressed or implied in this presentation.

• This presentation has been prepared by the CPNRF Property Manager. 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 CPNRF Property Manager or CPNRF Fund Manager 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.

Contents

Page

1. Operations 5

2. Financial Highlights 11

3. Q&A

1. Operations

Leasable Area and Occupancy

Source: CPN

Note: /1 Number of tenants excluding those with long-term lease with upfront rent, kiosks, carts, ATMs and coin machines as at 30 September 2012

Occupancy rate of CPNRF Portfolio slightly increased QoQ

Area (sqm) Occupancy Rate

Gross Area Leaseable

Area

Number of

Tenants/1 31 Dec 11 31 Mar 12 30 Jun 12 30 Sep 12

Rama 2 251,182 93,658 322 98.9% 98.8% 98.1% 98.7%

Rama 3 169,740 39,587 236 97.8% 98.6% 98.3% 98.1%

PinKlao (Plaza) 135,018 24,592 118 95.6% 96.7% 96.3% 98.1%

Pinklao Office Tower

A&B 50,653 33,760 97 96.5% 97.3% 97.3% 97.1%

Total 606,593 191,597 773 97.8% 98.2% 97.7% 98.2%

New and Renewed Lease Profile

Source: CPN

Note:

/1 Exclude rental agreements < 1 year

/2 Percentage of leasable area as at 30 September 2012

/3 Exclude rental agreements with revenue sharing clause

From 1 January to 30 September 2012/1

Renewal and New Leases/1 Increase / (Decrease)

in Rental Rate (p.a.)/3 No. of Leases Area (sqm) % of Total/2

Rama 2 74 4,084 4.4% 10.3%

Rama 3 47 5,370 13.6% 6.5%

Pinklao (Plaza) 28 3,393 13.8% 11.3%

Pinklao Office Tower A & B 24 5,719 % 4.4%

Total 173 18,566 9.7% 7.6%

Rental rates for the 3 malls have continued to grow by 7.6%

Lease expiry profile

Source: CPN

Note:

1. Percentage of total occupied area as at 30 September 2012

2. Exclude rental agreements < 1 year

Well balanced lease expiry profile

22%

10%

18%

10%

30%

12%

28%

17%

33%

11%

22%

38%

19%21%

28%

19%

32%

18% 18%20% 20%

15%

0%

5%

10%

15%

20%

25%

30%

35%

40%

Oct - Dec Y2012 Y2013 Y2014 Y2015 - Y2024

Rama II Rama III Pinklao (Plaza) Pinklao Office Tower A & B Total Portfolio

Central

Department

Store lease

expiring 2025

CDS Y2025

Rental Structure Profile

Note:

1. % of total occupied area excluding those with long-term lease with upfront rent as at 30 September 2012

2. % of total number of tenants excluding those with long-term lease with upfront rent, kiosks, carts, ATMs and coin machine as at 30 September 2012

52%

78%

90%

100%

48%

22%

10%

0%0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Rama II Rama III Pinklao (Plaza) Pinklao Office Tower A & B

% o

f O

cc

up

ied

A

rea

Fixed Rent % of Sales Rent

High Quality Tenants (Plaza)

Note: /1 Anchor tenant is a shop with space from 1,000 sqm. and above /2 Based on leasable area as at 30 September 2012 /3 The Fund does not invest in the leasable areas which are the location of CDS and Major Bowl at CentralPlaza Rama III since those are owned by

Ratchada Nonsi Department Store Co., Ltd. /4 The Fund does not invest in the leasable areas which are the location of CDS and Major Cineplex at CentralPlaza Pinklao since those areas are owned

by Centerl Pinklao Department Store Co., Ltd.

Anchor Tenant /1 Trade Sector Expiry Year

Area (sqm) % of Total Leasable Area /2

Rama 2 Rama 3 Pinklao Total

Central Department Store /4

Department Store

Aug 2025 27,000 27,000 17.1%

Major Cineplex /4 Entertainment Dec 2012,

Apr 2015 5,518 6,530 12,048 7.6%

Homework Furnishing Dec 2012 7,765 7,765 4.9%

Fitness First Sports & Fitness

Apr 2015,

Jul 2014 2,333 2,975 5,308 3.4%

TOPS Supermarket Supermarket Dec 2017 4,961 4,961 3.1%

Major Bowl Entertainment Dec 2012 2,665 2,665 1.7%

Office Depot Specialties Mar 2013 1,045 1,045 0.7%

IT City Computer Aug 2015 1,026 1,026 0.7%

Total Area of Anchor Tenants 48,954 9,889 2,975 61,818 39.2%

Total Leasable Area 93,658 39,587 24,592 157,837 100.0%

2. Financial Highlights

Income breakdown : 3Q12

Good performance across the three assets leads to strong YoY growth for the Fund

THB 635mn, +2% QoQ and +6% YoY

Rama 2

40%

Rama 3

24%

Pinklao

35%

Fund's other

income

1%

Profit & Loss

Net Investment Income continues to grow, both QoQ and YoY

(Baht Million) 3Q12 2Q12 QoQ Ch. 3Q11 YoY Ch.

Property level

Total income 629 620 +1% 588 +7%

Total expenses (41) (44) -8% (46) -10%

Property management fees (73) (73) +1% (70) +4%

Net income from property level 515 503 +2% 473 +9%

Fund level

Other income 6 6 +8% 11 -42%

Fund management fee and etc. (7) (7) +1% (7) +1%

Interest expenses (6) (6) 0% (6) -4%

Net investment income 508 495 +2% 470 +8%

Net realised (loss)/gain on investments 1 1 +6% - -

Net unrealised (loss) gains from

investment 189 (13) -1525% 120 +58%

Net increase in net assets 698 483 +44% 590 +18%

Balance Sheet

unit : Baht Million except

indicated Sep-12 Jun-12 QoQ

Investments in properties at fair

value 17,720 17,505 +1%

Cash and near cash 1,004 983 +2%

Other assets 207 200 +3%

Total Assets 18,931 18,688 +1%

A/P and Accrued expenses 110 107 +2%

Deposits received from customers 788 785 +0%

Loan from SCB 455 460 -1%

Other liabilities 168 164 +3%

Total Liabilities 1,522 1,516 +0%

Capital received from unitholders 15,764 15,764 0%

Retained Earnings 1,645 1,408 +17%

Net Asset Values 17,409 17,172 +1%

NAV per unit (Baht) 10.6389 10.4944 +1%

Distribution Summary 3Q2012 DPU of Bt 0.2863, increases by 1% QoQ and 8% YoY

/1 Distributable income includes Net realised gain/loss on investments

/2 SEC regulation mandates non-cash expenses (e.g. unrealized loss) to be distributed only via par reduction, not dividend

/3 Based on unit price of 16.60 Baht as at 17 Oct 2012 (For the current quarter and next 9 months)

3Q12 2Q12 QoQ 3Q11 YoY

Net investment income 508 495 +2% 470 +8%

Distributable income /1

via Dividend 509 483 +5% 470 +8%

via Par Reduction /2 - 13 -100% - -

Total distributable income 509 497 +3% 470 +8%

Actual Distribution

via Dividend 468 462 +1% 433 +8%

Baht per unit 0.2863 0.2823 +1%

0.264

4 +8%

via Par Reduction - - - - -

Baht per unit - - - - -

Total Distribution 468 462 +1% 433 +8%

Baht per unit 0.2863 0.2823 +1%

0.264

4 +8%

% of Net investment income 92% 93% -1% 92% +0.2%

Annualised Distribution Yield /3 6.9% 6.8% +0.1% 6.4% +0.5%

Shareholder Structure and Dividend

Unitholders Information

DPU

(as at 7 November 2012)

Dividend Policy

• 4 times a year

• Pay out a minimum of 90% of net Investment Income

Note:

/1 Based on unit price as at the end of each period (For the previous 12 months)

Y2007 Y2008 Y2009 Y2010 Y2011 1Q12 2Q12 3Q12

0.8230 0.8716 0.92010.9910 1.0230

0.2723 0.2823 0.2863

THAI 86.66%

CPN 27.80%

Institution 19.43%

Individual 39.43%

FOREIGN 13.34%

Institution 13.20%

Individual 0.14%

Listed on the SET 23 August

2005

Units Outstanding 1,636.3M

Units

Registered Fund Size Baht

15,764.0M

NAV (Sep 2012) Baht 10.6389

2007 2008 2009 2010 2011 1Q12 2Q12 3Q12

Annualized Yield/1 9.09% 11.17% 9.95% 8.26% 7.75% 7.72% 7.27% 6.69%

CPNRF Fund Structure

Land Owner

Central

Pattana Rama

2 Co., Ltd

Sublease of

land

53-2-39.4 Rai

20 Years

Lease of

building

and parking

20 years

Central

Pattana Rama

3 Co., Ltd

Lease of land

and building

30 + 30 + 30

years

Land Owner

Central Pattana Plc.

(Central Plaza

Pinklao)

Sublease of

land

24-02-84 Rai

15 Years

Lease of shopping

complex and office building

15 years

Central Pattana Plc.

Property Manager

Lease of land

90-2-9.3 Rai

(Principle Leasing Contract)

Lease of land

90-2-9.3 Rai

(Principle Leasing Contract)

CPN Retail Growth Leasehold Property Fund (CPNRF)

CPNRF Fund Information

Name CPN Retail Growth Leasehold Property Fund (“CPNRF”)

Property Manager Central Pattana Public Company Limited (“CPN”)

Fund Manager SCB Asset Management Company Limited

Trustee Kasikorn Bank Public Company Limited

Registrar SCB Public Company Limited

Assets CentralPlaza Rama 2, CenteralPlaza Ratchada-Rama 3, CentralPlaza Pinklao

Type Property Fund Type I (Indefinite Life)

Total Fund Size Baht 15,764.0 MB

Fund Registered Date 11 August 2005

Fund Investing Date

15 August 2005 for CentralPlaza Rama 2

16 August 2005 for CentralPlaza Ratchada-Rama 3

4 November 2009 for CentraPlaza Pinklao

Fund Listed Date 23 August 2005

Secondary Market The Stock Exchange of Thailand (“SET”)