Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 1 of 16 Executive Summary CPN’s total revenue and net profit continues to grow according to its business plan

We, Carabao 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

company and its subsidiaries’ operating result for the 1st quarter ended 31st March 2020 Unit: THB Million Q1/2020 Q4/2019 QoQ Q1/2019 YoY Total Revenue 43,070 50,146 -14% 45,535 -5% Accounting EBITDA

resolved to keep the key policy rate unchanged at 1.50 percent, but the vote to maintain the rate was 5 to 2, compared to 6 to 1 in the previous meeting. As a result, some private operators expedited bond

* G. Consequences of a failure to make payments * H. Representative of debt securities holders ม.70 (4) ผูแทนผูถือหุนกู (ถามี) I. Meeting of debt securities holders * J. Modification of Terms * K

Management Discussion and Analysis For the first quarter ended March 31, 2018 (Unreviewed) Kiatnakin Bank Public Company Limited Investor Relations Email: investor_relations@kiatnakin.co.th Tel. +66

Management Discussion and Analysis For the first quarter ended March 31, 2018 Kiatnakin Bank Public Company Limited Investor Relations Email: investor_relations@kiatnakin.co.th Tel. +66-2841-5925

Management Discussion and Analysis For the first quarter ended March 31, 2019 (Unreviewed) Kiatnakin Bank Public Company Limited Investor Relations Email: investor_relations@kiatnakin.co.th Tel. +66

of Foreign Company to Offer for Sale of Newly Issued Debt Securities in Thai Baht dated 22 December 2016; (2) Notification of the Capital Market Supervisory Board No. Tor Jor. 29/2560 Re: Rules for

time, we have focused on collaboration and synergy with other companies within KASIKORNBANK FINANCIAL CONGLOMERATE, Muang Thai Life Assurance Public Company Limited and our business partners, for service