Management Discussion & Analysis 2022 1 I 9 Branches upcountry 86% Bangkok and vicinity 14% Revenue structure categorized by business groups (Unit : Million Baht) 2021 2022 Increase (Decrease) %YoY Amount

structure categorized by business groups (Unit : Million Baht) Q3/2022 Q3/2023 Increase (Decrease) %YoY 9M2022 9M2023 Increase (Decrease) %YoY Amount % Amount % Amount % Amount % Retail Business 2,252.79

year 204.55 1.42% 183.00 1.35% (21.54) (10.53%) Branches upcountry 86% Bangkok and vicinity 14% Revenue structure categorized by business groups (Unit : Million Baht) 2022 2023 Increase (Decrease) %YoY

follows: Revenue structure categorized by business groups (Unit: Million Baht) Q1/2023 Q1/2024 Increase (Decrease) %YoY Amount % Amount % Retail Business 2,175.67 62.97% 2,406.90 67.47% 231.22 10.63

of advertising media in the last quarter of the year. In addition, the operators were cautious of the use of advertising media budget to get the best value for money. However, the Company has found

according to the debt to equity conversion program of its subsidiary which get approval from the extraordinary general shareholder meeting no.1/2017 on date 30 August 2017. (Separate: THB 780 million from the

conversion program of its subsidiary which get approval from the extraordinary general shareholder meeting no.1/2017 on date 30 August 2017. (Separate: THB 780 million from the reversed of provision for

the published financial statements to get complete details and understanding. The consolidated financials are based on the elimination of intra-company (or intra-business segment) transactions. For this

footprint basis Notes We recommend that investors always read the MD&A together with the published financial statements to get complete details and understanding. The consolidated financials are based on the

, it expects to get approval on the mai listing and the capital increase of CAZ from the Company's shareholders meeting. Details of the transaction are set out as follows: 1. Transaction date CAZ plans