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

three types, as follows: Revenue by channel 3 Months Period (July - September) Business group Q3/2023 Q3/2024 Increase (Decrease) %YoY Amount % Amount % Retail Business 2,328.49 64.92% 2,398.90 64.00

, as well as policies to support Thailand’s long term competitiveness, including the Eastern Economic Corridor (EEC) project – which aims to promote Thailand as one of the region’s logistics hubs and

in support of the national policy of making Thailand a cashless society. We always strive to bolster our capabilities in providing services via digital channels to promote increased digital

classification of receiving financial support pursuant to announcement of the Securities Exchange of Thailand, the transaction size is equivalent to 0.10% of Company’s Net Tangible Asset (NTA) of Baht 3,125.29

. Nilthita Lertruangsuphakul holding 20.00% 3. Mrs. Naruemol Saksitthisareekul holding 0.09% 4. Ms. Tarnnun Thoudao holding 0.01%  Kwan Muang Group (“KMG”), a partner from Lao PDR, registered on February 15

Revenue by Product Line for the three months period ended March 31 (YoY) Product Line/ Business Group Consolidated financial statements Change Increase/(Decrease) For Three Months Period Ended 31 March 2018

machinery along with cutting down provision of financial support for Power Plant business. Consequently, the aforementioned disposition of 3 subsidiaries engaging in Power Plant Business, Auditor is of the

Sale department support to continuously increase new target customer. 4. Administrative expenses For the past 9 month of 2019, the administration expenses was 42.09 million baht or 13.81% from revenue

stimulus policies worth Baht 464 billion to support domestic spending, the property market and grassroots economy. Meanwhile, tourist arrivals rose by 4.2 percent, softening from 7.3 percent in 2018. A