financial performance of E for L Aim Public Company Limited (“EFORL” or “the Company”) and its subsidiaries (collectively as “the Companies”) for the year ended 31 December 2017 Financial performances

[COMPANY NAME] EFORL IR010/2018 March 20, 2018 Subject: Management Discussion and Analysis Yearly Ending 31 December, 2017 To President The Stock Exchange of Thailand 1. Overview financial

วันที่ 10 พฤษภาคม พ 1 Ref. LPN/SorKor/289/2561 8th November 2018 Re: Financial Statements Analysis Report Q3/2018 Dear: President The Stock Exchange of Thailand L.P.N. Development Public Co.,Ltd

distribution and administrative expenses which was approximate to the same period of the last year. Exception the cost of financial which increased or equivalent to Baht 1.95 million from the outstanding debt

[COMPANY NAME] Ref.: EFORL IR 024/2019 August 15, 2019 Subject: Management Discussion and Analysis Quarter 2 Ending 30 June 2019 To President The Stock Exchange of Thailand 1. Overview financial

in distribution of product and equipment, design, assembly and installation and maintenance service of pure water treatment system; as well as dialysis service of clinic business for kidney patients

. Nature of operations of the Group The Group has principally engage in distribution of product and equipment, design, assembly and installation, and maintenance service of pure water treatment system

Thailand We, 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

1 1. ANALYSIS OF FINANCIAL PERFORMANCE For the 6 months ended June 2018, East Water Group had total consolidated sales and services income of 2,093.08 million Baht, decreased by 155.99 million Baht

1 1. ANALYSIS OF FINANCIAL PERFORMANCE For the 9 months ended September 2018, East Water Group had total consolidated sales and services income of 3,170.91 million Baht, decreased by 97.23 million