and increase FN brand equity in a long run. For the proportion of other income to total revenue, the Company was able to maintain proportionate compared to previous period. The Company targets to expand

existing shareholders. As a result of this transaction, the Company’s shareholding in BMN increased from 69.67 percent to 89.67 percent. 2. Dividend payment On April 26, 2019, the 2019 Annual General Meeting

1,169.69 19.08 Total Shareholders’ Equity 1,873.11 1,882.84 (0.52) Total Liabilities and Shareholders’ Equity 3,265.92 3,052.53 6.99 Total Assets As of 31 December 2018, total assets presented at Baht

103.43 102.12 (1.31) (1.27%) Liabilities and equity Current liabilities Amount due to related companies 0.34 0.01 (0.33) (97.56%) Current portion of financial lease liabilities 0.60 0.47 (0.13) (21.26

Billboard category. Volvo Lightening-powered billboard 3 MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 1Q 2018 MD&A 1Q 2018 (ended 31 March 2018) 14 MAY 2018 DIVIDEND PAYMENTS - On 25 April 2018, the

13.5% to THB 44mn • Dividend payment of 0.02 per share to be paid on 17 May 2019 KEY BUSINESS UPDATE THAILAND • MACO has completed the digital installation of its street furniture media at 23 BTS

and production order. As a result, the cost of sales per unit increased. (4) Dividend income In the second quarter of 2019, the Company received dividend from Millcon Steel Public Company Limited at the

Baht 115.3 million. 7. Deferred tax liabilities increased Baht 8.4 million. Total shareholder’s equity As of 31 December 2019, the company and its subsidiaries have the total shareholder’s equity valued

form of (i) Revenue, (ii) Share of Profit, and (iii) Dividend Income. Share of Profit is a net profit in proportion of our equity stake (%). Such Share of Profit is net of all relevant costs in the

Baht 31.3 million. 4) Financial cost increased by Baht 0.4 million. 5) Company record loss sharing in joint-venture by equity method of Baht 0.2 million decreased from the quarter 2/2016 by Baht 1.1