PowerPoint Presentation Management Discussion and Analysis MD&A Q2/2020 THE INNOVATIVE POWER FLAGSHIP OF PTT GROUP 1 Q2/2020 and Recent Highlights In the second quarter of 2020, economic factors that

-15% Refinery and Trading Business Group 1/ 1,073 631 70% (1,421) 175% 2,871 3,928 -27% Marketing Business Group 2/ 359 680 -47% 465 -23% 2,279 2,177 5% Power Plant Business Group 3/ 795 710 12% 570 40

1 1. ANALYSIS OF FINANCIAL PERFORMANCE For 9M/2017, East Water Group had total consolidated sales and services income of 3,268.14 million Baht, decreased by 64.83 million Baht or 1.95% (Total

(2,546) 2,420 -205% 1,959 -230% Refinery and Trading Business 1/ (2,590) 1,073 -341% 517 -601% Marketing Business Group 2/ 81 359 -78% 612 -87% Green Power Business 3/ 770 795 -3% 736 5% Bio-Based Product

ng, Khon Ka ing paymen Kaen to NM ation memo ownership a Kaen, dated nceling the 2018 and N ldings, Am nsaction of on Kaen, to ector and M e Stock Exch ormation M ltimedia Gr e reference a Group Pu 8

growth and returns while maintaining our market leadership over the long term. Guided by our core strategies of “Customer Centricity” and making KBank the Customers’ Main Bank for all eight customer

from Outrigger group being acquired on 12 June 2018 as well as Crossroads project phase 1 officially opened on 1 September 2019. Nonetheless, 1Q2020 performance was slightly affected from COVID-19

, 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 and

production volume in January and Unit : million Baht Q 1/2019 Q 1/2018 Group Revenues 3,398 8,148 Group EBITDA (85) 1,223 Group Net Profit (Loss) (803) 495 HRC Sales (k tons) 177 389 HRC Production Volume (k

increase of cost from raw material handling by the Company itself after terminate contract with Unit : million Baht Q 2/2019 Q 2/2018 Group Revenues 5,192 7,815 Group EBITDA 640 555 Group Net Profit (Loss