approval from the Office of the Securities and Exchange Commission (SEC) and the conversion process of CPNRF into CPNREIT is expected to be completed by the end of 2017. Central Pattana Public Company

1 (Translation) MD. 182 /2017 Nov 8 , 2017 Re: Management Discussion and Analysis For the Operating Results ended September, 2017 To: President The Stock Exchange of Thailand Management Discussion

- Translation - Page 1 of 6 CBG 052/2017 14 November 2017 Subject Management discussions and analysis for the 3-month and 9-month periods ending 30 September 2017 To President The Stock Exchange of

mobile ARPU improvement as well as an increasing number of fixed broadband customers. Sales revenue was Bt7,488mn, a decrease 9.9% YoY from softened competition but rose 49% QoQ due to seasonality. Sales

development of 12,987.3 Million Baht, Account Receivable of 371.5 Million Baht. Additionally, there were building improvement, sales gallery and equipment of 2,864.6 Million Baht. Moreover, the goodwill

. In light of tangible improvement in gross profit, VGI Group’s positive momentum is also reflected in its EBIT of THB 260mn (prior year: THB 151mn) and EBITDA, which increased by 49.9% from THB 248mn to

improvement in gross profit, VGI Group’s positive momentum is also reflected in its EBITDA, which increased by 24.6% YoY from THB 1,357mn to THB 1,691mn, while adjusted EBITDA increased significantly by 43.6

507mn, while adjusted EBITDA increased significantly by 50.3% YoY from THB 361mn to THB 542mn. Interest expense decreased by THB 8mn from THB 23mn to THB 15mn in 1Q 2018/19. Given the further improvement

President The Stock Exchange of Thailand Reference is made to the resolutions of the Board of Director Meeting No. 3/2018 of Carabao Group Public Company Limited (the "Company") held on 10 August 2018 as

record date) To President The Stock Exchange of Thailand Reference is made to the resolutions of the Board of Director Meeting No. 3/2018 of Carabao Group Public Company Limited (the "Company") held on 10