from higher staff cost, shop expansion & renovation, and the one- time expense of Bt134mn regarding withholding tax in 3Q18. In 2018, %bad debt to postpaid revenue declined to 3.8% , compared to 4.3% in

the Company in June 12, 2018. Discussion of results of operations Consolidated financial statements Six Months 2018 Six Months 2019 % Change from Six Months Ended 2018 and 2019 THB million % THB million

, 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

. Total Sales Volume 2,100 3. Total Backlog 1,880 600 2,480 Performance in Q1/2021 and 2020 Consolidated profit (loss) statements The net profit of the Company and subsidiary companies decreases 43.35% from

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 subsidiaries

will be recorded as unearned income in S’s consolidated financial statement and recognized as revenue over 30 years start in Q1’2019. In the meantime, S has invested in 20% shareholding in SPRIME

Osotspa Public Company Limited Management’s Discussion and Analysis (MD&A) Q1’20 Consolidated Financial Results 12 May 2020 Q1’20 Management Discussion & Analysis Page 1/6 Financial Highlights

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

comprehensive income. Any ineffective portion is recognized immediately in profit or loss. The consolidated statement of financial position as at 31 December 2017, the consolidated statements of comprehensive

to lower bad debt provision while decreasing -11%QoQ due to some seasonal staff-related expenses. Net FX loss was Bt223mn, turned negative, compared to FX gain of B263mn in 4Q20 due to THB depreciation