Central Retail Corporation Public Company Limited Page 1 20 February 2020 Re: Management Discussion and Analysis Operating results for the year ended December 31, 2018 To: President The Stock

Central Retail Corporation Public Company Limited Management discussion and analysis /Page 1 Executive summary The overall global economy was projected to slow down significantly due to the COVID-19

Central Retail Corporation Public Company Limited Page 1 20 February 2020 Re: Management Discussion and Analysis Operating results for the three-month and nine-month period ended September 30, 2019

revenue proportion YEAR 2018 & YEAR 2019 & 1Q20 From the chart, it can be seen that the proportion of income from the 4 main structures of the company, there is a change in revenue from retail stores that

Central Retail Corporation Public Company Limited Page 1 Overview of the operating result for the fourth quarter of 2019 The company’s total revenue for the fourth quarter of 2019 was THB 63,405

-brand increased 8.2% - The sales Revenue of Sabina-brand Non store retailing(online) increased 61.5% - The sales Revenue of Sabina-brand Export increased 42.7% - The sales Revenue from OEM decreased 2.3

Carabao Group Public Company Limited (the "Company") held on August 8, 2019 as follows: 1. To approve payment of interim dividend for the operating results of January to June 2019 from net profit and

Thailand We, 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

, 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

from Marketing Business of the Company, Bangchak Green Net Co.,Ltd., Bangchak Retail Co., Ltd., and share of profit from associated companies 3/ EBITDA from Power Plant Business of BCPG Plc., its