Placement) will be discounted at the rate of not more than ten percent of the market price. “Market price” means the weighted average price of the Company’s shares on the Stock Exchange of Thailand (the “SET

the weighted average price of the Company’s shares on the Stock Exchange of Thailand (the “SET”) for the past seven but not more than 15 consecutive business days prior to the date on which the Board of

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

Thailand 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

its subsidiaries as details below: (Unit: Baht millions) For the period of three months Consolidated financial statement ended 30th June Apr 2019 - June 2019 Apr 2018 - June 2018 Change % Change Revenue

greatly contracted by trade impacts and the higher For three months For nine months Consolidated financial statement ended 31st December ended 31st December Oct - Dec 2019 Oct - Dec 2018 Change % Change Apr

1st half of year, the For the period of three months For the period of 1st half Consolidated financial statement ended 30th Sept ended 30th Sept July - Sept 2019 July - Sept 2018 Change % Change Apr

of total assets in the consolidated financial statement ended March 31, 2019, the size of which falls in between 15–50 percent, and shall be determined as a Class 2 transaction under the Acquisition or

วันที่ 15 ตุลาคม 2545 1 NO. (SUTHA-SET) 015/2018/EN 14 November 2018 Subject: Management Discussion and Analysis of the Company and subsidiary for the period ended 30 September 2018 To: The President

results for the 3-month period ending 31 March 2020 and 2019 (Unit: Thousand Baht) Consolidated Financial Statements Increase (Decrease) Separate Financial Statements Increase (Decrease) 2020 2019 Thousand