Limited (the “Company” or “CBG”), are pleased to submit management discussion and analysis regarding consolidated financial performance and position of the Company and subsidiaries (the “Group”) for the 3

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

can be summarized as follows; For the consolidated financial statements and the company's performance and subsidiaries ended 31 March 2020. This has been reviewed by the Company’s auditor and can be

1 1. ANALYSIS OF FINANCIAL PERFORMANCE In the first half of 2017, East Water Group had total consolidated sales and services income of 2,249.07 million Baht, increased by 16.36 million Baht or 0.73

1 Ref: AC.042/2017 14 November 2017 Subject: Management discussion and analysis of financial position and operating results To: President and Manager The Stock Exchange of Thailand Overall operating

management for the year 2017 To: President Stock Exchange of Thailand The Company would like to clarify the following reasons for changes to profit (loss) in the consolidated financial statements for the year

. 1/2019. 2. Approved the appropriation and retaining of the net profit Baht 511 million as legal reserve and the declaration of dividend payment from the Company consolidated net profit for the period

Stock Exchange of Thailand Attachment: Management Discussion and Analysis ended 30 June 2018 As the Golden Lime Public Company Limited (“the Company”) has submitted the Review report on the Consolidated

| 2 Executive Summary In 2019, overall palm oil production and crude palm oil ( CPO) inventory remained high in both domestic and international market, although the inventory plunged to a minimum record

rate can be observed (Source: The Bank of Thailand) while the interest rate was stable from previous quarter (Source: Siam Commercial Bank). For overall global aviation industry in the first quarter 2019