Ratio Financial Ratio As of December 31, 2019 As of December 31, 2019 Liquidity Ratio (times) 24.87 23.97 Debt to Equity Ratio (times) 0.05 0.04 Return on Equity - ROE (%) 3.79 (1.10) Return on Assets

retained earnings as a result of the recent dividend payment in May. Financial Ratio Financial Ratio As of June 30, 2019 Liquidity Ratio (times) 27.80 Debt to Equity Ratio (times) 0.04 Return on Equity - ROE

“Company” or “we” or “our” or “us”) would like to inform management discussion and analysis for its results of operations from the consolidated financial statements for the nine months period ended Sep 30

absence of revenue from the property development business and increase in administrative expense as explained above. Summary of Financial Performance Analysis of the Operating Results Revenues For the

, Carabao Group Public Company Limited (the “Company” or “CBG”), are pleased to submit management discussions and analysis regarding consolidated financial performance and position of the Company and

-term land rental agreement, is considered to fit under the criteria of investment. In calculation of the transaction value the consolidated financial statement dated December 31, 2019 is being referenced

December 31, 2019. Debt to equity ratio also increased to 1.2 from 0.7 times as of December 31, 2019, accordingly. Yours sincerely, Pongsarn Klongwathanakith (Pongsarn Klongwathanakith) Chief Financial

 Financial Capital As the group as no net interest bearing debt and operating working capital is positive the groups funding is from the shareholders equity. Major Factors which could have an Impact on the

Public Company Limited (“the Company”) No. 5/2020, on 11 August 2020. Resolved to approving the financial statements and operating results of the Company for the second quarter ended June 30, 2020. This

on our audited financial statements for the years ended December 31, 2016, 2017 and 2018 and for nine-month periods ended September 30, 2018 and 2019 based on our reviewed interim financial information