expenses to sales ratio to rise. Q3/2019 Finance Costs The Company and its subsidiaries recorded finance costs of Baht 19 million, an increase of 11% YoY due to higher borrowings as a result of investments

Exchange of Thailand Enclosure: 1) Information Memorandum on Assets Acquisition of Master Ad Public Company Limited; (amended) 2) Capital Increase Report Form (F53-4); 3) Information Memorandum on the

Exchange of Thailand Enclosure: 1) Information Memorandum on Assets Acquisition of Master Ad Public Company Limited; 2) Capital Increase Report Form (F53-4); 3) Information Memorandum on the Issuance and

(34) (31) (10%) Dividend paid (0) (69) 100.0% Net Cash flows from (used in) financing activities (131) 210 (162%) Exchange differences on translating financial statements 5 4 36.6% Net increase

of the Securities and Exchange Act B.E. 2535 (1992) , as amended by the Securities and Exchange Act (No. 4) B.E. 2551 (2008) , Paragraph 2 of Section 100, Section 114, Section 115, Section 116 and

of the Securities and Exchange Act B.E. 2535 (1992), as amended by the Securities and Exchange Act (No. 4) B.E. 2551 (2008), Paragraph 2 of Section 100, Section 114, Section 115, Section 116 and

of the Securities and Exchange Act B.E. 2535 (1992), as amended by the Securities and Exchange Act (No. 4) B.E. 2551 (2008), Paragraph 2 of Section 100, Section 114, Section 115, Section 116 and

1 IDH-AC-000-อส6211/08.00 8 November 2019 Re: Management Discussion and Analysis Operating results for the three-month and nine-month period ended 30 September 2019 To: President The Stock Exchange

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