Q3 2012/13 Financial Results

January --, 2012

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• This presentation may contain forward-looking statements that involve assumptions, risks and uncertainties. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management on future events because, by their nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual future performance, outcomes and results to differ materially from those expressed in forward-looking statements (or from past results). Representative examples of these factors include (without limitation), general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from other developments or companies, shifts in expected levels of occupancy rate, property rental income, charge out collections, changes in operating expenses (including employee wages, benefits and training costs), governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. These factors may cause the actual results, performance or achievements of Tesco Lotus Retail Growth Freehold and Leasehold Property Fund (“TLGF”) to differ, perhaps materially, from the results, performance or achievements expressed or implied in this presentation. TLGF undertakes no obligation to publicly update or revise any of these forward-looking statements whether to reflect new information, future events or circumstances or otherwise. It should be noted that past performance is not a guide to future performance.

• This presentation has been prepared by the TLGF Property Manager. The information in this presentation has not been independently verified. No representation or warranty, expressed 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 TLGF Property Manager or TLGF FundManager or any of its agents or advisers, or any of their respective affiliates, advisers or representatives, shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising, whether directly or indirectly, from any use, reliance or distribution of this presentation or its contents or otherwise arising in connection with this presentation and any such liability is expressly disclaimed.

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• Persons requiring advice should consult an independent adviser. 1

Important Notice and Disclaimer

2

Table of Contents

1) TLGF Fund Structure

2) TLGF Fund Information

1. Financial Results

2. Portfolio Update

3. Appendices

1. Financial Results

3

Summary of Results

Revenue Breakdown Results Highlight

Total THB 1,206 million

Total Investment Income (THB million) 1

Net Property Income (THB million) 1

Distribution per Unit (THB) 2

Annualized Distribution Yield 3

Annualized Distribution Yield on Last Trading Day 4

1Q 12/13

6.7%

0.15

303

349

Note: Reported in million THB as of 30 Nov 2012.1) Per Management Accounts. Exclude interest income.2) Includes distribution through capital reduction.3) Based on IPO Price of THB 10.40 as of 19 March 2012.4) Based on closing price of THB14.10 as of 30 Nov 2012.

4.9%

2Q 12/13

7.0%

0.18

371

427

5.2%

3Q 12/13

6.2%

0.16

368

430

4.6%

For 9-month period FY2012/13

Hypermarket & Food

Court 34%

Fixed Rent Tenants

34%

Variable Rent

Tenants 18%

Temporary Tenants

13%

Others 1%

9M12/13

6.6%

0.49

1,042

1,206

4.9%

4

Profit & Loss Statement

Rental and Service Income (1)

Media Income (1)

Other Income

Total Investment Income (1)

Interest Income

Property Operating Expense (2)

Fund Expense (3)

Amortisation of Deferred Expenses

Net Investment Income

Add back: Amortizations of Deferred Expenses Distributable to Unitholders and unrealized gain from investment valuation

Income Distributable to Unitholders (4)

Distributable Income per Unit (Baht per Unit)Note: Reported in million THB as of 30 Nov 2012.(1) Per Management Accounts.(2) Includes operating expenses, insurance expenses and sales promotion.(3) Includes management, trustee, registrar and property management fees, professional fee, ground lease payments and other expenses.(4) Total distributable after adjusting for non-cash revenue recognition according to IAS17.(5) Unrealized gain from investment valuation(6) Per Q3 dividend announcement on 23 Nov 2012 prior Q3 accounting closing.

344

5

0

349

3

(33)

(35)

238

28

267

0.15

(45)

1Q 2012-2013

427

0

0

427

5

(43)

(41)

292

35

328

0.18

(56)

2Q 2012-2013

424

6

0

430

4

(44)

(40)

288

1 (5)

283 (6)

0.16 (6)

(62)

3Q 2012-2013

1,195

11

0

1,206

12

(120)

(116)

818

64

878

0.49

(163)

9M 2012-2013

5

Balance Sheet

As of 30 Nov 2012 THBmm THBmm

Investment Properties 18,057 Net Assets Attributable to Unitholders 18,351

Cash & Cash Equivalents 413

Other Assets 496 Units In Issue (‘000 units) 1,770,000

Total Assets 18,966

Net Asset Value (NAV) (Baht per unit) 10.4

A/P and Accrued Expenses 131 Adjusted NAV (Baht per unit) 10.4

Rental Income Received in Advance 59 (net of distribution)

Deposits Received from CustomersAccrued Dividend Payment Other Liabilities

141

283

1

Total Liabilities 615

THBmm

Note: Reported in million THB as of 30 Nov 2012.

6

Distribution Summary

Q3

Net Investment Income 289

Distributable Income

Via Dividend 283 (4)

Via Capital Reduction 1,2 -

Total Distributable Income 283

Actual Distribution

Via Dividend 283

Baht Per Unit 0.16

Via Capital Reduction 1,2 -

Baht Per Unit -

Total Distribution 283

Baht Per Unit 0.16

% of Income Distributable to Unitholders 100%

Annualized Distribution Yield 3 4.6%

Distribution Summary Distribution

Dividend Policy 4 times a year Pay out a minimum of 90%

of net Investment Income

Note: Reported in million THB as of 30 Nov 2012.1) SEC regulation stipulates non-cash expenses to be distributed only via capital reduction, not dividend.2) Total distributable after adjusting for non-cash revenue recognition according to IAS17.3) Based on closing price of THB14.10 as of 30 Nov 2012.4) Per Q3 dividend announcement on 23 Nov 2012 prior Q3 accounting closing.

Unit: THB

0.13 0.16 0.16

0.450.02 0.02

0.04

1Q 2012/13 2Q 2012/13 3Q 2012/14 9M 2012/13

Dividend Capital Reduction

2. Portfolio Update

Details of Portfolio

Source: Tesco Lotus.1) Occupancy rate refers to average occupancy rate for 3 months period ending May 31,2012.Weighted average by TLA.2) Occupancy rate refers to average occupancy rate for 3 months period ending Aug 31,2012.Weighted average by TLA.3) Occupancy rate refers to average occupancy rate for 3 months period ending Nov 30,2012.Weighted average by TLA. 7

Area (sq.m.)No. of Tenants

Occupancy Rate

Gross Area Net Area 31 May 121 31 Aug 122 30 Nov 123

1 Srinakarin 57,374 29,480 163 99.00% 99.00% 99.49%

2 Krabi 37,120 16,609 77 99.90% 99.90% 99.91%

3 Prachachuen 34,213 12,206 52 99.90% 100.00% 99.88%

4 Rangsit Klong7 17,859 12,274 65 100.00% 100.00% 99.97%

5 Tung Song 24,975 10,562 70 99.90% 99.90% 99.94%

6 Singburi 26,048 11,170 46 99.90% 98.40% 98.40%

7 Pranburi 12,273 8,444 42 99.90% 99.40% 98.48%

8 Mahachai 22,983 8,784 28 100.00% 100.00% 100.00%

9 Maesai 11,255 7,695 28 100.00% 100.00% 100.00%

10 Ranong 11,320 7,553 37 100.00% 99.90% 100.00%

11 Samui 25,732 20,616 72 99.90% 99.70% 99.80%

12 Pitsanulok 22,010 16,864 40 100.00% 99.90% 100.00%

13 Amata 32,021 23,355 130 90.60% 94.40% 96.78%

14 Petchaboon 18,984 13,686 54 99.90% 99.90% 99.87%

15 Lumlukka Klong6 15,905 10,977 39 97.70% 98.30% 98.57%

16 Sena Ayudhya 11,281 7,684 34 99.30% 99.70% 100.00%

17 Rama 1 45,651 14,151 70 99.90% 99.70% 99.77%

Total 427,001 232,111 1,047 98.70% 99.00% 99.36%

8

Rental Reversion Profile

Renewals, Leases and New Leases

Stores Represented

No. of Leases

Net Area (sq.m.) Variance

Central Bangkok 2 16 755 8%

Outer Bangkok 6 95 5,604 10%

North 3 7 278 6%

South 6 12 330 24%

Total 17 130 6,967 11%

Source: Tesco Lotus.

Remarks: (1) Renewals, leases and new leases on Q3 2012/13 exclude temporary lease contracts, pylon and building signs, network contracts and Auto

Zone shop at Amata.

9

Lease Expiration Profile

Source: Tesco Lotus

Year ended February 28, 2013 148 6,068 2.6%

Year ended February 28, 2014 295 15,554 6.7%

Year ended February 28, 2015 355 25,412 10.9%

Beyond February 28, 2015 285 44,570 19.2%

OLA with Tesco Lotus 17 139,137 59.9%

Vacant space 49 1,533 0.7%

Total 1,149 232,274 100.0%

Period Total Number of Expiring Leases

Area of Expiring Leases (sq.m.)

Expiring Leases As % of Total

Lettable Area (%)

3. Appendices

10

TLGF Fund Structure

TLGF

Other UnitholdersSponsor

TrusteeFund Manager

Registrar

Investment Committee

17Properties

Rental and Service Revenue

Properties to be invested in the Fund

Anchor Tenant

Other Tenants

11

TLGF Fund Information

Fund Name

Property Manager

Assets

Establishment Date

Fund Manager

Portfolio of 17 Shopping Mall strategically located across Thailand Net Lettable Area : 232,007 sq.m. Gross Floor Area : 427,001 sq.m. Average Occupancy Rate of 99.0%

Tesco Lotus Retail Growth Freehold and Leasehold Property Fund (“TLGF”)

Ek-Chai Distribution System Co., Ltd. (Tesco Lotus)

13 March 2012

Krung Thai Asset Management Pcl.

Trustee The Hongkong and Shanghai Banking Corporation, Bangkok Branch

Total Fund Size THB 18,646 million

Listed Date 19 March 2012

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

Registrar Krung Thai Asset Management Pcl.