supply, which was affected by the new wave of COVID-19 outbreaks. ▪ In the 1st quarter of 2021, there was no by-products sold. All were used in biodiesel and refined glycerine productions. Whilst, the 1st

directors are clearly defined. 2.2 The board of directors oversees whether the company goals are clear and measurable to be used as guidelines for executives’ and employees’ operation. 2.3 The board of

used to determine the consideration value. Come from negotiation Based on significant financial figures in the company's financial statements. The company considers the volume of transactions, which the

stores which was used to test the market. • Revenue from Franchising in Q3/2023 was THB 5 million, unchanged from Q3/2022 Q3/2023 vs Q3/2022YoY +44%Unit: THB Million 4 9M/2023 vs 9M/20229M • Revenue from

served as a reception area and workspace for customers, which can also be used as a space for hosting of various activities that allowed the Company to progressively engage with customers. Recently, the

beginning to return to normal. 5 I 9 Management Discussion & Analysis 2023 In 2023, financial costs amounted to THB 26.01 million, increased by THB 2.99 million YoY (+12.97%) as the Company used more

company's Payment of additional capital from IPO fundraising was received and then used to repay the promissory note. And reduce the use of promissory notes, resulting in a significant decrease in interest

of Directors. The information in the said matters shall clarify the directions and the determination to drive the business towards sustainability, as deemed appropriate by the Company, to be used as

and the determination to drive the business towards sustainability, as deemed appropriate by the Company, to be used as guidelines for investors to understand and monitor future business directions of

of exchange and debentures used as a source of funds for the Carnival Magic project, which is the use of short and medium term funds to invest in long term projects that are capable of generating