LPN Analyst Meeting 1Q16 (May 12, 2016)

I. Executive Summary

II. Industry Overview

III. Business Overview

IV. Financial Statement Overview

Agenda

May 12, 2016 Slide 2

I. Executive Summary L.P.N. Development Public Company Limited

May 12, 2016 Slide 3

Performance Update

• Target presale 17,600 MB 3M16 = 2,273 MB (13% of target)

• Target new projects launch 17,600 MB 3M16 = 3,900 MB (22% of target) • Target income from condo sales 17,600 MB 1Q16 = 4,213 MB (24% of target) • Backlog (as of 31 Mar 2016) 8,703 MB Secured revenue 2016 7,973 MB (69% of target) Secured revenue 2017 730 MB

II. Industry Overview Residential Condominium Sector (Bangkok and Metropolitan)

May 12, 2016 Slide 4

Launch (Unit) 15,040 17,438 39,459 59,501 32,982 24,523 68,651 45,106 62,860 85,621 78,894 60,017 15,333

LPN (Unit) 4,287 3,680 3,471 9,738 3,747 7,840 7,723 8,607 9,083 10,753 10,386 4,480 4,569

LPN’s Share 29% 21% 9% 16% 11% 32% 11% 19% 15% 13% 13% 7% 30%

Registration (Unit) 7,567 11,617 14,807 16,222 26,124 33,309 38,374 30,092 44,157 52,280 45,210 60,242 24,609

LPN (Unit) 1,176 2,389 3,333 3,050 8,009 6,281 6,144 7,888 9,613 6,976 6,107 12,236 8,048

LPN’s Share 16% 21% 23% 19% 31% 20% 16% 26% 22% 13% 14% 20% 33%

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 1Q16

-

20,000

40,000

60,000

80,000

100,000 Unit

Launch Registration LPN

III. Business Overview Summary of the Performance Update

May 12, 2016 Slide 5

Quarterly Cumulative Presales

4,863

11,000

14,767

18,741

6,730

15,500

18,620

24,395

3,188

10,133

13,022

17,069

3,450

8,979

11,866

14,518

2,273

0

4,000

8,000

12,000

16,000

20,000

24,000

28,000

3M12 6M12 9M12 12M12 3M13 6M13 9M13 12M13 3M14 6M14 9M14 12M14 3M15 6M15 9M15 12M15 3M16

MB

* As of Mar 31, 2016

32% 68%

New Project Inventory

III. Business Overview Summary of the Performance Update

May 12, 2016 Slide 6

Unsold

8,624

11,149 9,735

8,137 7,514

4,706 3,400

6,659 6,559

10,209 8,591

5,936 6,735 6,949 5,255 5,106

4,060

109

188 1,611

2,229 1,961

3,670 4,160

4,324 4,934

2,879 5,768

7,916 7,236 6,230

5,543 5,259 8,245

-

1,500

3,000

4,500

6,000

7,500

9,000

10,500

12,000

13,500

15,000

16,500

1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16

Inventory Projects under construction

8,733

11,337 11,346 10,366

9,475

7,560 7,932

10,983 11,493 10,798

13,088 14,359 13,852 13,971

13,179

MB

12,305

10,365

* As of Mar 31, 2016

78% 22%

Bangkok Upcountry

III. Business Overview Summary of the Performance Update

May 12, 2016 Slide 7

Backlogs

9,773 9,870 7,451

5,505 7,725

8,664

12,310 11,531 7,070

4,245

2,388 3,987

5,272 8,335

9,890

8,195

7,667 9,078 7,445 3,460

6,600

8,970

13,122 12,581 16,090

16,003

13,951 13,301 8,768

2,722

1,378

1,890

4,649 5,771

9,902

11,724

11,911 7,973

377

730

-

5,000

10,000

15,000

20,000

25,000

30,000

1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16

Recognize 12 Recognize 13 Recognize 14 Recognize 15 Recognize 16 Recognize 17

15,278

19,983 20,102 17,582

19,866 21,410

2017

23,560

20,789 21,659

14,446

2016

24,913

21,353 18,600 19,072

91% 9%

Bangkok Upcountry

18,670

MB

12,288

8,703

* As of Mar 31, 2016

III. Business Overview Project Update

May 12, 2016 Slide 8

* As of Mar 31, 2016

Projects Project Value (MB) No. of Units Sold Transferred Launch

(Q/Y) Realized

(Q/Y) Finish In 2013

1 Lumpini Park Beach Jomtien 4,254.00 1,846 91% 90% 4/11 2/13-3/13 2 Lumpini Ville Naklua-Wong Amat 2,914.00 2,168 81% 81% 4/11 3/13-1/14 3 Lumpini Condotown Chonburi-Sukhumvit 2,743.00 4,101 87% 85% 4/12 4/13-1/14

Total 9,911.00 8,115 Finish In 2014

1 Lumpini SeaView Jomtien 1,303.00 1,150 61% 60% 2/14 4/14 2 Lumpini Ville Onnut-Pattanakarn 1,948.00 1,594 74% 71% 1/14 4/14 3 Lumpini Place Udon-Posri 2,114.00 1,370 71% 71% 1/13 4/14

Total 10,482.00 8,609 Finish In 2015

1 Lumpini Place Suksawad-Rama 2 1,145.00 750 100% 100% 1/13 1/15 2 Lumpini Place Srinakarin-Huamark Station 3,000.00 1,613 100% 100% 2/13 2/15 3 Lumpini Park Ratanathibet-Ngamwongwan 4,000.00 2,826 93% 92% 2/12 2/15 4 Lumpini Park Rama 9-Ratchada 2,600.00 1,540 100% 100% 2/13 3/15 5 Lumpini Ville Onnut-Ladkrabang 2 1,100.00 1,043 59% 55% 4/14 3/15 6 Lumpini Township Rangsit-Klong 1 (P1) 2,400.00 3,472 55% 45% 4/13 3/15 7 Lumpini Place Borommaratchachonnani-Pinklao 1,660.00 992 100% 85% 2/14 4/15

Total 15,905.00 12,236 Finish In 2016

1 Lumpini Park Nawamin-Sriburapha 2,000.00 1,831 66% 46% 2/14 1/16 2 Lumpini Condotown Romklao-Suvarnabhumi 1,500.00 1,961 68% 36% 4/14 1/16 3 The Lumpini 24 3,100.00 426 87% 21% 4/13 1/16 4 Lumpini Township Rangsit-Klong 1 (P2) 2,600.00 3,674 50% 11% 1/16 1/16 5 Lumpini ParkBeach Chaam 1,000.00 413 100% 17% 1/15 1/16 6 Lumpini Park Petchakasem 98 (P1) 1,750.00 1,352 78% - 2/14 2/16 7 Lumpini Ville Nakhon In-Riverview 2,000.00 1,544 50% - 2/15 4/16 8 Lumpini Mixx Thepharak-Srinakharin 1,800.00 2,041 62% - 2/15 4/16

Total 15,750.00 13,242 Finish In 2017

1 Lumpini Ville Sukhumvit 76-Bearing Station 1,100.00 895 40% - 4/15 1/17 2 Lumpini Township Rangsit-Klong 1 (P3) 2,000.00 2,928 - - 4/16 2/17 3 Lumpini Ville Ratchaphruek-Bang Waek 1,300.00 1,085 26% - 1/16 2/17

Total 4,400.00 4,908

III. Business Overview Project Update

May 12, 2016 Slide 9 Finished Project

Finish in 2014 7 Projects approx. 8,609 Units 10,482.00 MB LT-RLK2 LV-OL LV-PP2 LP-UP LV-ON46 LV-OP LSV-JT

Finish in 2015 7 Projects approx. 12,236 Units 15,905.00 MB LP-SWRM2 LP-SH LPark-RB LTS-RK1(P1) LPark-RAMA9 LV-OL2 LP-BP

Finish in 2016 7 Projects approx. 13,242 Units 15,750.00 MB LPark-NS LT-RS LP24 LPark-PKS98(P1) LB-CA LV-NI LX-TS LTS-RK1(P2)

Finish in 2017 3 Projects approx. 4,908 Units 4,400.00 MB LV-SK76 LV-RPB LTS-RK1(P3)

III. Business Overview Project Update

May 12, 2016 Slide 10

Project New Launch Plan 2016 Project Units Value (MB) Launch Finish

1. Lumpini Township Rangsit-Klong 1 (P2) 3,674 2,600.00 1/16 2016 2. Lumpini Ville Ratchaphruek-Bang Waek 1,085 1,300.00 1/16 2017 3. Lumpini Park Petchakasem 98 (P2) 1,355 1,850.00 2/16 2017 4. Lumpini SeaView Chaam 1,134 1,450.00 2/16 2017 5. Lumpini ParkBeach Chaam 2 200 500.00 2/16 2017 6. Lumpini Place Huahin soi 7 339 500.00 2/16 2017

7. Lumpini Ville Sukhumvit 113 1,500 1,500.00 3/16 2017 8. Lumpini Ville Ratanathibet-Saimah 900 1,000.00 4/16 2017 9. Lumpini Township Rangsit-Klong 1 (P3) 2,928 2,000.00 4/16 2017

10-12. 3 additional projects ** 4,900.00 4/16 2017 Total 13,115 17,600.00

IV. Financial Statement Overview Comparison of Profit and Loss Statement between 1Q15 and 1Q16

May 12, 2016 Slide 11

Sales (Mb) EPS (Baht)

Item 1Q15 1Q16 1Q15 1Q16

Income 2,036.47 4,252.02 0.198 0.477

Cost 1,385.40 2,947.72

G/P 651.07 1,304.30

32.0% 30.7%

Revenues (Mb) Rental & Service (Mb) Gross Profit (Mb) Net Profit (Mb)

1Q15 1Q16 Item 1Q15 1Q16 1Q15 1Q16 1Q15 1Q16

2,197.63 4,428.61 Income 12.13 17.07 709.65 1,360.18 292.06 704.20

Cost 6.20 6.83 32.3% 30.7% 13.3% 15.9%

G/P 5.93 10.24

(Mb) 48.9% 60.0%

Management Fee (Mb) Expenses (Mb)

Item 1Q15 1Q16 1Q15 1Q16

Income 133.90 154.98 342.19 469.07

Cost 96.38 113.88 15.6% 10.6%

G/P 37.52 41.10

28.0% 26.5%

Other Income (Mb)

Item 1Q15 1Q16

Income 15.30 4.55

0.7% 0.1%

IV. Financial Statement Overview Highlight of Group Balance Sheet 1Q16

May 12, 2016 Slide 12

Net Debt = 2,641.00 MB = 0.23 : 1 (Less Cash)

Liability & Equity Asset Total Asset 19,392.19 MB

Liabilities (41.21%) 7,990.73 MB

Equities (58.79 %) 11,401.45 MB

Cash 1,171.97 MB

Equities

Interest Debt

3,812.97 MB 47.72 %

Non interest Debt

4,177.76 MB 52.28 %

D/E Ratio 0.701 : 1, Interest Bearing Debt 0.334 : 1

Current Asset 17,002.30 MB

Non–Current Asset

2,389.88 MB

May 12, 2016 Slide 13

Appendix

Low Rise Residential Development By PST Current Projects Project Value

(MB) No. of Units Sold Transferred Launch

(Quarter / Year) Realized

(Quarter / Year)

Baan Lumpini Town Residence Bangna-Srinakarin 220.00 27 55% 52% 3/14 1/15

Baan Lumpini Chaloem Phra Kiat Ratchakan Thi 9 (P1) 380.00 38 79% 71% 3/14 2/15

Baan Lumpini Town Ville Suksawat-Rama2 430.00 143 73% - 2/15 2/16

Baan Lumpini Town Ville Changwatana-Tiwanon 320.00 122 16% - 4/15 2/16

Baan Lumpini Town Ville Wacharapon-Permsin 680.00 255 11% - 4/15 2/16

Baan Lumpini Town Ville Ratchaphruek- Nakhon In 390.00 142 45% - 4/15 2/16

Total 2,420.00 727

1Q16 Presales was 484 MB 1Q16 Income From Sales was 40 MB

* As of Mar 31, 2016

May 12, 2016 Slide 14

Appendix

Rank Names of Top 10 Shareholders February 25, 2016 Total Shares %

1 NVDR 179,951,611 12.19% 2 Chase Nominees Ltd. 138,322,102 9.37% 3 Krungsri Dividend Stock LTF 70,132,600 4.75% 4 Mr. Sumet Techakraisri 65,142,793 4.41% 5 Social Security Fund 45,928,000 3.11% 6 Krungsri Dividend Stock Fund 36,031,600 2.44% 7 Mrs. Yupa Techakraisri 26,040,499 1.76% 8 Aberdeen Growth 23,871,100 1.62% 9 Aberdeen LTF 23,849,600 1.62% 10 Aberdeen Small Cap 23,422,400 1.59%

Total 632,692,305 42.87%

Shareholder Type February 25, 2016 Total Shares %

NVDR 179,951,611 12.19% Local Institute 467,579,569 31.69% Local Retail 472,826,881 32.04% Foreign Institute 344,728,538 23.36% Foreign Retail 10,612,169 0.72%

Total 1,475,698,768 100.00%

May 12, 2016 Slide 15

Appendix