Company Limited (“the Company”) has already submitted the consolidated reviewed the 2 st quarter financial statements as of August 31, 2017 which were reviewed by Deloitte Touche Tohmatsu Jaiyos Audit

”) reported consolidated revenues of Baht 426.1 million, a decrease of 13.7% compared to the same quarter last year. Sales revenues reported at Baht 415.3 million, declined by 16% due to slower sales in

ENDED JUNE 30, 2018 1. Analysis of operation results for the second quar ter of 2018 in compar ison with those for the same quar ter of 2017 (from the consolidated financial statements) Items Second

AD PLC MANAGEMENT DISCUSSION & ANALYSIS 2Q 2017 1 AUG 2017 181 91 90 190 102 88 199 108 91 Operating Revenue Billboard Street Furniture 2Q 2016 1Q 2017 2Q 2017 2Q 2017 CONSOLIDATED P&L SNAPSHOT

flows Consolidated financial statements As at 31 December + ( - ) % 2019 2018 (in Baht) Changes in operating assets and liabilities Trade accounts receivable (22,198,069) 34,394,987 255% Amount due from

” or “we” or “our” or “us”) would like to inform management discussion and analysis for its results of operations from the consolidated financial statements for the three months period ended March 31

of Baht 8,149 million. It results from the increase of trade and other receivables and unbilled receivables. The quality of assets Trade account receivables Unit: Million Baht Consolidated financial

mainly from trade accounts receivable and unbilled receivables. The quality of assets Trade account receivables Unit: Million Baht Consolidated financial statements 31 December 2019 31 December 2018 Trade

. The decrease was mainly from trade accounts receivable, unbilled receivables and inventories. The quality of assets Trade account receivables Unit: Million Baht Consolidated financial statements 31

due to the lower trade accounts receivable. 4 The quality of assets Trade account receivables Unit: Million Baht Consolidated financial statements 30 June 2019 31 December 2018 Trade account receivables