, 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

Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 16 Executive Summary The Company implemented proactive measures to timely manage the situation rapidly

and Vietnam to access new revenue stream and accommodate its sustainable growth aspiration. Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 15 of 15 Table 5

1 August 17, 2018 Subject: Capital Increase for Offering for Sale to Specific Investors (Private Placement), Connected Transaction, Amendments to Articles of Association/Objectives of the Company and

อนุญาตประกอบธุรกิจหลกัทรัพยป์ระเภท การจดัการกองทุนส่วนบุคคล ซ่ึงครอบคลุมกองทุนส่วนบุคคลหรือ กองทุนส ารองเล้ียงชีพ แลว้แต่กรณี ส านกังาน ส านกังานคณะกรรมการก ากบัหลกัทรัพยแ์ละตลาดหลกัทรัพย ์ access person

) B.E. 2551 (2008) hereby issues the following regulations: Clause 1. In this Notification: (1) the term “company,” “parent company,” “subsidiary company,” “major shareholder,” and “controlling person

(2008) hereby issues the following regulations: Clause 1. In this Notification: (1) the term “company,” “parent company,” “subsidiary company,” “major shareholder,” and “controlling person” shall mutatis

and Exchange Act (No. 4) B.E. 2551 (2008) hereby issues the following regulations: Clause 1. In this Notification: (1) the term “company,” “parent company,” “subsidiary company,” “major shareholder

1,677 100% 1,977 100% (300) (15%) 2 EMS business The Company had revenue from EMS business for the first quarter of 2019 amounting to Baht 394 million, a decrease of Baht 82 million or a decrease of 17

) “derivatives clearing house” means derivatives clearing house open for services to the general public; (3) “parent company” means: (a) a juristic person who holds no less than fifty percent of the total