Common use of PROPERTY DEVELOPMENT COSTS Clause in Contracts

PROPERTY DEVELOPMENT COSTS. 6.1 Actual property development costs consist of : In Thousand Baht Consolidated/Separate Financial Statements As at June 30, 2019 As at December 31, 2018 Land and land development costs 3,014,905 2,962,707 Utilities development costs 1,158,749 1,140,775 Construction in progress 5,824,483 5,710,387 Interest capitalization 507,096 491,777 Total 10,505,233 10,305,646 Less Transfer to inventory (241,453) (316,146) Transfer to accumulated cost of sale (8,750,754) (8,391,786) Property development costs - net 1,513,026 1,597,714 As at June 30, 2019 and December 31, 2018, most of Company’s land and construction in the projects are mortgaged as collateral against credit facilities for loans with local commercial bank, as discussed in Note 13 and Note 14. For the three-month periods ended June 30, 2019 and 2018, the Company recorded the related interest expense amounting approximately to Baht 8.80 million and Baht 9.86 million, respectively, as part of property development costs. The capitalization rate for calculation of interest is 7.26% and 6.87%, respectively For the six-month periods ended June 30, 2019 and 2018, the Company recorded the related interest expense amounting approximately to Baht 17.36 million and Baht 20.76 million, respectively, as part of property development costs. The capitalization rate for calculation of interest is 6.74% and 7.07%, respectively

PROPERTY DEVELOPMENT COSTS. 6.1 Actual property development costs consist of : In Thousand Baht Consolidated/Separate Financial Statements As at June September 30, 2019 As at December 31, 2018 Land and land development costs 3,014,905 2,662,726 2,962,707 Utilities development costs 1,158,749 986,963 1,140,775 Construction in progress 5,824,483 4,789,497 5,710,387 Interest capitalization 507,096 482,064 491,777 Total 10,505,233 8,921,250 10,305,646 Less Transfer to inventory (241,453200,126) (316,146) Transfer to accumulated cost of sale (8,750,7547,175,474) (8,391,786) Property development costs - net 1,513,026 1,545,650 1,597,714 As at June September 30, 2019 and December 31, 2018, most of Company’s land and construction in the projects are mortgaged as collateral against credit facilities for loans with local commercial bank, as discussed in Note 13 and Note 14. For the three-month periods ended June September 30, 2019 and 2018, the Company recorded the related interest expense amounting approximately to Baht 8.80 million and Baht 9.86 million, respectively, as part of property development costscosts amounting approximately to Baht 6.13 million and Baht 11.63 million, respectively. The capitalization rate for calculation of interest is 7.264.89% and 6.877.99%, respectively For the sixnine-month periods ended June September 30, 2019 and 2018, the Company recorded the related interest expense amounting approximately to Baht 17.36 million and Baht 20.76 million, respectively, as part of property development costs. The capitalization rate for calculation of interest is 6.74% and 7.07%, respectivelycosts amounting approximately to Baht

PROPERTY DEVELOPMENT COSTS. 6.1 Actual property development costs consist of : In Thousand Baht Consolidated/Separate Financial Statements As at June 30March 31, 2019 2018 As at December 31, 2018 2017 Land and land development costs 3,014,905 2,962,707 3,130,392 3,128,940 Utilities development costs 1,158,749 1,140,775 1,129,688 1,148,447 Construction in progress 5,824,483 5,710,387 5,451,810 5,343,856 Interest capitalization 507,096 491,777 468,030 457,148 Total 10,505,233 10,305,646 10,179,920 10,078,391 Less Transfer to inventory (241,453435,376) (316,146486,362) Transfer to accumulated cost of sale (8,750,7547,745,563) (8,391,7867,502,405) Property development costs - net 1,513,026 1,597,714 1,998,981 2,089,624 As at June 30March 31, 2019 2018 and December 31, 20182017, most of Company’s land and construction in the projects are mortgaged as collateral against credit facilities for loans with local commercial bank, as discussed in Note 13 and Note 1415. For the three-month periods ended June 30March 31, 2019 2018 and 20182017, the Company recorded the related interest expense amounting approximately to Baht 8.80 10.89 million and Baht 9.86 18.02 million, respectively, as part of property development costs. The capitalization rate for calculation of interest is 7.267.19% and 6.87%, respectively For the six-month periods ended June 30, 2019 and 2018, the Company recorded the related interest expense amounting approximately to Baht 17.36 million and Baht 20.76 million, respectively, as part of property development costs. The capitalization rate for calculation of interest is 6.74% and 7.078.38%, respectively

PROPERTY DEVELOPMENT COSTS. 6.1 9.1 Actual property development costs consist of : In Thousand Baht Consolidated/Separate Financial Statements As at June 30March 31, 2019 2020 As at December 31, 2018 2019 Land and land development costs 3,014,905 2,962,707 2,268,956 2,873,114 Utilities development costs 1,158,749 1,140,775 780,524 1,046,323 Construction in progress 5,824,483 5,710,387 3,344,927 4,970,630 Interest capitalization 507,096 491,777 419,601 517,658 Total 10,505,233 10,305,646 6,814,008 9,407,725 Less Transfer to inventory (241,453181,324) (316,146180,342) Transfer to accumulated cost of sale (8,750,7544,797,538) (8,391,7867,337,367) Property development costs - net 1,513,026 1,597,714 1,835,146 1,890,016 As at June 30March 31, 2019 2020 and December 31, 20182019, most of Company’s land and construction in the projects are mortgaged as collateral against credit facilities for loans with local commercial bank, as discussed in Note 13 18 and Note 1420. For the three-month periods ended June 30March 31, 2019 2020 and 20182019, the Company recorded the related interest expense amounting approximately to Baht 8.80 8.36 million and Baht 9.86 8.57 million, respectively, as part of property development costs. The capitalization rate for calculation of interest is 7.26% and 6.87%, respectively For the six-month periods ended June 30, 2019 and 2018, the Company recorded the related interest expense amounting approximately to Baht 17.36 million and Baht 20.76 million, respectively, as part of property development costs. The capitalization rate for calculation of interest is 6.74% and 7.07%, respectively.

PROPERTY DEVELOPMENT COSTS. 6.1 9.1 Actual property development costs consist of : In Thousand Baht Consolidated/Separate Financial Statements As at June 30, 2019 2020 As at December 31, 2018 2019 Land and land development costs 3,014,905 2,962,707 2,675,135 2,873,114 Utilities development costs 1,158,749 1,140,775 889,530 1,046,323 Construction in progress 5,824,483 5,710,387 4,201,260 4,970,630 Interest capitalization 507,096 491,777 461,010 517,658 Total 10,505,233 10,305,646 8,226,935 9,407,725 Less Transfer to inventory (241,453166,408) (316,146180,342) Transfer to accumulated cost of sale (8,750,7546,308,021) (8,391,7867,337,367) Property development costs - costs, net 1,513,026 1,597,714 1,752,506 1,890,016 As at June 30, 2019 2020 and December 31, 20182019, most of Company’s land and construction in the projects are mortgaged as collateral against credit facilities for loans with local commercial bank, as discussed in Note 13 18 and Note 1420. For the three-month periods ended June 30, 2019 2020 and 20182019, the Company recorded the related interest expense amounting approximately to Baht 8.80 5.60 million and Baht 9.86 8.80 million, respectively, as part of property development costs. The capitalization rate for calculation of interest is 7.265.15% and 6.877.26%, respectively respectively. For the six-month periods ended June 30, 2019 2020 and 20182019, the Company recorded the related interest expense amounting approximately to Baht 17.36 13.94 million and Baht 20.76 17.36 million, respectively, as part of property development costs. The capitalization rate for calculation of interest is 6.746.16% and 7.076.74%, respectively.

PROPERTY DEVELOPMENT COSTS. 6.1 Actual property development costs consist of : In Thousand Baht Consolidated/Separate Financial Statements As at June September 30, 2019 2018 As at December 31, 2018 2017 Land and land development costs 3,014,905 2,962,707 2,892,403 3,128,940 Utilities development costs 1,158,749 1,140,775 1,010,051 1,148,447 Construction in progress 5,824,483 5,710,387 4,785,996 5,343,856 Interest capitalization 507,096 491,777 469,280 457,148 Total 10,505,233 10,305,646 9,157,730 10,078,391 Less Transfer to inventory (241,453386,984) (316,146486,362) Transfer to accumulated cost of sale (8,750,7546,960,532) (8,391,7867,502,405) Property development costs - net 1,513,026 1,597,714 1,810,214 2,089,624 As at June September 30, 2019 2018 and December 31, 20182017, most of Company’s land and construction in the projects are mortgaged as collateral against credit facilities for loans with local commercial bank, as discussed in Note 13 and Note 1415. For the three-month periods ended June September 30, 2019 2018 and 20182017, the Company recorded the related interest expense amounting approximately to Baht 8.80 million and Baht 9.86 million, respectively, as part of property development costscosts amounting approximately to Baht 11.63 million and Baht 4.50 million, respectively. The capitalization rate for calculation of interest is 7.267.99% and 6.875.66%, respectively For the sixnine-month periods ended June September 30, 2019 2018 and 20182017, the Company recorded the related interest expense amounting approximately to Baht 17.36 million and Baht 20.76 million, respectively, as part of property development costs. The capitalization rate for calculation of interest is 6.74% and 7.07%, respectivelycosts amounting approximately to Baht

PROPERTY DEVELOPMENT COSTS. 6.1 Actual property development costs consist of : In Thousand Baht Consolidated/Separate Financial Statements As at June 30March 31, 2019 As at December 31, 2018 Land and land development costs 3,014,905 2,740,174 2,962,707 Utilities development costs 1,158,749 1,023,833 1,140,775 Construction in progress 5,824,483 5,710,387 4,919,249 5,705,995 Interest capitalization 507,096 482,899 491,777 Total 10,505,233 10,305,646 9,166,155 10,301,254 Less Transfer to inventory (241,453267,066) (316,146311,754) Transfer to accumulated cost of sale (8,750,7547,411,908) (8,391,786) Property development costs - net 1,513,026 1,487,181 1,597,714 As at June 30March 31, 2019 and December 31, 2018, most of Company’s land and construction in the projects are mortgaged as collateral against credit facilities for loans with local commercial bank, as discussed in Note 13 and Note 1415. For the three-month periods ended June 30March 31, 2019 and 2018, the Company recorded the related interest expense amounting approximately to Baht 8.80 8.57 million and Baht 9.86 10.89 million, respectively, as part of property development costs. The capitalization rate for calculation of interest is 7.266.75% and 6.87%, respectively For the six-month periods ended June 30, 2019 and 2018, the Company recorded the related interest expense amounting approximately to Baht 17.36 million and Baht 20.76 million, respectively, as part of property development costs. The capitalization rate for calculation of interest is 6.74% and 7.077.19%, respectively

PROPERTY DEVELOPMENT COSTS. 6.1 Actual property development costs consist of : In Thousand Baht Consolidated/Separate Financial Statements As at June 30, 2019 2018 As at December 31, 2018 2017 Land and land development costs 3,014,905 2,962,707 3,127,305 3,128,940 Utilities development costs 1,158,749 1,140,775 1,132,069 1,148,447 Construction in progress 5,824,483 5,710,387 5,534,899 5,343,856 Interest capitalization 507,096 491,777 477,528 457,148 Total 10,505,233 10,305,646 10,271,801 10,078,391 Less Transfer to inventory (241,453381,364) (316,146486,362) Transfer to accumulated cost of sale (8,750,7547,995,756) (8,391,7867,502,405) Property development costs - net 1,513,026 1,597,714 1,894,681 2,089,624 As at June 30, 2019 2018 and December 31, 20182017, most of Company’s land and construction in the projects are mortgaged as collateral against credit facilities for loans with local commercial bank, as discussed in Note 13 and Note 1415. For the three-month periods ended June 30, 2019 2018 and 20182017, the Company recorded the related interest expense amounting approximately to Baht 8.80 9.86 million and Baht 9.86 20.88 million, respectively, as part of property development costs. The capitalization rate for calculation of interest is 7.266.87% and 6.877.13%, respectively For the six-month periods ended June 30, 2019 2018 and 20182017, the Company recorded the related interest expense amounting approximately to Baht 17.36 20.76 million and Baht 20.76 38.90 million, respectively, as part of property development costs. The capitalization rate for calculation of interest is 6.747.07% and 7.0710.18%, respectively

PROPERTY DEVELOPMENT COSTS. 6.1 Actual property development costs consist of : In Thousand Baht Consolidated/Separate Financial Statements As at June 30, 2019 As at December 30, 2017 31, 2018 2016 Land and land development costs 3,014,905 2,962,707 3,388,745 3,410,551 Utilities development costs 1,158,749 1,140,775 1,097,922 1,020,673 Construction in progress 5,824,483 5,710,387 5,149,666 4,938,171 Interest capitalization 507,096 491,777 461,824 426,546 Total 10,505,233 10,305,646 10,098,157 9,795,941 Less Transfer to inventory (241,453518,684) (316,146626,595) Transfer to accumulated cost of sale (8,750,7547,027,319) (8,391,7866,560,798) Property development costs - net 1,513,026 1,597,714 2,552,154 2,608,548 As at June 30, 2019 2017 and December 31, 20182016, most of Company’s land and construction in the projects are mortgaged as collateral against credit facilities for loans with local commercial bank, as discussed in Note 13 and Note 1415. For the three-month periods ended June 30, 2019 2017 and 20182016, the Company recorded the related interest expense amounting approximately to Baht 8.80 20.88 million and Baht 9.86 10.19 million, respectively, as part of property development costs. The capitalization rate for calculation of interest is 7.264.51% and 6.876.59%, respectively For and for the six-month periods ended June 30, 2019 2017 and 20182016, the Company recorded the related interest expense amounting approximately to Baht 17.36 38.90 million and Baht 20.76 22.15 million, respectively, as part of property development costs. The capitalization rate for calculation of interest is 6.744.75% and 7.077.47%, respectively.