growth of 31.8% YoY after launching Peptein Plus in Q1’19. In addition, Osotspa has launched two new beverages, which are V Plus, drinks with electrolyte, vitamin C and cool mint, and Slimma, block and

, total revenues from sales of beverages segment booked at 5,321 million, increased by THB 154 million (or +3.0% YoY) in Q1’19. Domestic market: Energy drinks with herbal benefits continued its strong

, such development can be described as follows: - Translation - Page 2 of 11 2015 Domestic Sales Energy Drinks Sports Drinks Other Branded Products 3rd-party Products 2016 Domestic Sales 5,477 614 51 238

beverages continued its growth momentum at 7.3% YoY, and domestic personal care showed 23.7% growth. Overall international business grew 8.7% at constant FX rate. YTD 1H’19, net sales grew 5.0%, contributed

rate translation, revenue from sales grew by 6.7% YoY at constant FX. The growth drivers lie in our core businesses, both domestic beverages and personal care with the growth of 6.6% and 10.7

functional drinks (+26.2 YoY). Domestic beverage continued showing strong growth at 4.6% YoY from both energy drinks and functional drinks. Speed-up health and hygiene innovations made a turnaround of domestic

Functional drinks market grew 6.6% YoY. C-Vitt, our strong No. 1 brand outperformed the market with the record high market share at 33.9% (+1190 bps YoY). Even though the functional drinks market grew at

Intercarabao Limited (“ICUK”). Revenue from sales of our energy drinks under Carabao trademark to existing export markets amounted to THB 968 million and THB 2,740 million, increased by THB 129 million or 15.4

15th Floor, Regent House Building, 183 Rajdamri Rd., Lumpini, Patumwan, Bangkok 10330, Thailand. Tel.: +66(0)2253-5232-3 Fax.: +66(0) 2070-0733 Email: info@foodanddrinks.co.th ( ) Food and Drinks

์จ ำ กดั (มหำชน) Food and Drinks Public Company Limited 1 | P a g e February 27, 2020 Subject: Management discussion and analysis of the operating results for the year 2019 Attn: President The Stock