Page 46 - CRC_One Report 2021_EN

Business Overview and Performance Corporate Governance Financial Statements Enclosure

In addition, in December 2021, the Company acquired 67% stake in Porto Worldwide Limited (Porto WW), of which
Porto WW has 40% stake in GrabTaxi Holdings (Thailand) Co., Ltd., which is the leader of an online-to-offline
service platform that provides a wide range of services to customers. Moreover, it is growing rapidly, especially
in Thailand. This acquisition is an aim to strengthen the Ecosystem and Omnichannel Platform of Central Retail,
including collaborating with Grab to help improve the service to better meet the needs of customers.

Central Retail believes the success of the above acquisitions and overseas business expansions has enhanced
Central Retail to grow significantly in the national and international levels. Moreover, Central Retail has personnel
with expertise and the capabilities of acquiring and integrating retail brands into its retail business network,
and Central Retail is an attractive and trustworthy partner for other businesses given its solid financial status.

5. A Capable and Experienced Management Team Comprising Professional

Management from the Retail Industry and the Chirathivat Family

The Chirathivat family is the pioneer of modern trade retailing in Thailand. It was the first in Thailand to start
a sizeable department store in Bangkok’s Wang Burapha district in 1956 and then the Central Chidlom Department
Store in 1974. It founded the highly successful Big C hypermarket in Thailand in 1994 and founded Thailand’s number
one mall developer Central Pattana in 1995. It also opened Thailand’s first specialty retail stores in 1996 and has
been a leader in online innovation in Thailand since the early 2000s.

Central Retail boasts an experienced and dedicated professional management team consisting of retail industry
veterans and top professionals from other disciplines, who work hand-in-hand with Chirathivat family sponsors,
as well as well-qualified managers from the Chirathivat family itself. The majority of managers have over twenty
years of retailing experience in Thailand, Vietnam and Italy.

As an industry leader and pioneer, Central Retail has consistently been able to attract the most talented employees
locally and globally that also align with its customer-centric operating model. Central Retail engages professional
managers from both Thailand and abroad to join in management team and Central Retail believes that now Central
Retail has a strong and diverse management bench. Managing the diverse portfolio of retail banners, store concepts
and formats (from large department stores to small convenience stores and brand shops) requires specialized
management and execution skills, and Central Retail believe there are few other retailers with a management
pool that could match our expertise and experience.

46 Annual Report 2021 (Form 56-1 One-Report)