In 2022, Thailand’s energy drink market recovered mainly in the second half of the year. Supported by the improvement of economic in domestic demand, consumption and private sector investment as well as more relaxation of prevention and control measures on COVID-19, All of these factors and the company's business plan resulted in Carabao Dang domestic sales growth compared to the previous year and still maintains the market share being ranked 2nd largest brand.

Referred to the various situations for year 2022, there were lots of changed as the spread of the Covid-19 was declared to the disease endemic whereof the epidemic has not diminished but the impact of violence has decreased, the economic situation tends was accelerated back to normal orderly but still facing to several challenges and vulnerable in many factors including the different economic recovery ratio in each country affects the imbalance between supply and demand in the world market, especially, the volatility of energy and commodity prices in the global market under the Green Economy trends that may put pressure on global costs and inflation to increase. In additional, this impact acts as a catalyst for various structural changes and accelerates the arrival of Global Mega Trends. This has a direct impact on business operations and the daily lives of Thai people have changed in the post-COVID 19’s world, which prompts us to quickly adapt themselves, especially in matters of environmental conservation such as measures to control the amount of greenhouse gas emissions in the industrial sector with a campaign to reduce energy consumption from coal energy by switching to renewable energy, the digital transformation that driven more investment and intensifying technology competition to increase commercial capacity, investment and financial capabilities in infrastructure and continuously development the potential of production to serve the digital economy. With various factors occurring, the company realized the fundamental principles of operating a business based on sustainability that does not only consider maximizing value profits for shareholders, but also demonstrate strong to social and environmental responsibility and all the needs of stakeholders and society at large which would be the long-term value framework to encourage to operate environmentally friendly business and create benefits for the community and society as well as creating shared value in terms of the economy.

Throughout the past, with the determination of the company's personnel jointly driven the various management processes to encourage the sustainable business development covering all dimensions includes environmental, social and corporate governance. As a results, the year 2022, the company was selected as one of Thailand Sustainability Investment (THSI) and was certified the Carbon Footprint for Organization (CFO) from the Thailand Greenhouse Gas Management Organization. (Public Organization) that being another important milestone that helps to build confidence among investors including stakeholders in considering investment to the concept of sustainable investment that brings the factors of environment, social, governance (ESG) as a component in making investment decisions along with the analysis of the company's financial information to create continuously returns in the long term.

On behalf of the Board of Directors and Executives, I would like to thank all our stakeholders for your trust and support. I would also like to thank our management and employees who have dedicated their time and effort to push our company forward the various crises and pressures occurred during the past year. The company strongly believes that with the commitment of all parties under the corporate values and culture; enlightenment, practicality, accuracy, adaptability, flexibility, and responsibility to all stakeholders, it would be strengthened and lead our organization to success and sustainable growth for the Carabao Group.

MISS NUTCHAMAI THANOMBOONCHAROEN

Chairman of the Board of Director