Osotspa Public Company Limited Management’s Discussion and Analysis (MD&A) Consolidated Financial Results: Q4’19 and FY2019 26 February 2020 FY2019 Management Discussion & Analysis Page 1/6 Financial

accounting, recognition of any resultant gain or loss depends on the nature of the item being hedged. In case of Cash Flow hedges, only the effective portion of changes in the fair value of the derivative

depends on the nature of the item being hedged. In case of Cash Flow Hedges, only the effective portion of changes in the fair value of the derivative financial instrument is recognized in other

, 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

Results Profit & Loss Statements (Million Baht) Consolidated Financial Statements 2018 2017 +/(-) % Revenues from sales and services 656.71 459.26 197.45 42.99% Gross profit from sales and services 125.50

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

Limited ( “ the Company” ) would like to submit this Management Discussion and Analysis for the year ended 31 December 2019 with details as follows: ( Since the consolidated financial statements included

whereas Baht 13.20 million in 2016 decreasing Baht 5.4 million or 40.91 % decrease due to having only one service project whereas last year there were 3 service projects. Other Income The other income was

67.7 6.2 The Lofts Ekkamai 23.0 4.2 684.37 62.6 UNIXX South Pattaya 262.3 48.2 133.0 12.2 Others3 42.7 7.8 40.9 3.7 1 Backlogs include only sold units with sale and purchase agreements 2 Calculated from

only a land without construction. The official assessed price is higher than the third party price about 10,105.69-10,000.42 baht per square two-meters or the rate 63%. 2) The official assessed price is