-month of the year 2016 ended June 30, 2016. The Company’s overall performance can be summarized as follows. DCORP would like to summarize the overview of the consolidated company’s performance for the

- Translation - Management Discussion and Analysis of the Company’s Performance for the year ended 31 December 2018 - Translation - JKN GLOBAL MEDIA PUBLIC COMPANY LIMITED Management Discussion and

- Translation - Management Discussion and Analysis of the Company’s Performance for the Nine Months Ended 30 September 2018 - Translation - JKN GLOBAL MEDIA PUBLIC COMPANY LIMITED Management

Discussion and Analysis 2018 Performance Summary Consolidated Statement of Comprehensive Income (Unit: THB Million) 2017 2018 % YoY Q4'17 Q3'18 Q4'18 % QoQ % YoY Revenues 5,858 7,539 29% 2,564 1,815 3,648 101

shortages. Hence, Portugal operation generated a significant loss in this quarter. 2) Higher SG&A 3) Higher tax expenses However, there are also several positive factors: 1) Strong performance of our

organization to a business unit. The digital transformed will also be achieved to improve the operational process to be flexible and increase the efficiency of expense management and operational costs. The 4

2018. A summary of the Company’s operating performance in 2019 and 2018 is shown in the following table: FY2019 FY2018 % Change FY2017 % Change [Amount in Baht Million] Y-o-Y Y-o-Y [2019 VS. 2018] [2018

, 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

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

reach. During 2017, MACO also has started to introduce digital media into its product portfolio. These above-mentioned developments already borne fruit to our solid performance throughout 2017. In this