revenue for the same period of last year. The positive impact is a result of more projects awarded in 2017 leading to more negotiation power and efficient cost management. 1. Business Performance Analysis

private placement at a discount will have impact on the Company's shareholders as specified in Attachment (the Information Memorandum concerning the Offering and Allocation of the Newly Issued Shares of

1 ( Translation ) Ref. NEP146-2017 October 25, 2017 Subject : Resolutions of the Board of Directors approving the capital decrease, the capital increase, the allotment of newly issued ordinary shares to investors in private placement, the acquisition of assets and convening the Extraordinary General Meeting of the Shareholders No. 1/2018 (Revise) To : President, The Stock Exchange of Thailand Attachment : 1. Capital Increase Report Form (F 53-4) 2. Information Memorandum in relation to the allot...

benefit of Bt309mn, covering January 2017 to September 2017. 3. End of May 2017, the NBTC announced a USO rate reduction from 3.75% of revenue down to 2.5%. In 3Q17, the full-quarter impact of the rate

1 ( Translation ) Ref. NEP146-2017 October 25, 2017 Subject : Resolutions of the Board of Directors approving the capital decrease, the capital increase, the allotment of newly issued ordinary shares to investors in private placement, the acquisition of assets and convening the Extraordinary General Meeting of the Shareholders No. 1/2018 (Revise 2) To : President, The Stock Exchange of Thailand Attachment : 1. Capital Increase Report Form (F 53-4) 2. Information Memorandum in relation to the all...

due to the stimulus policy from the government in relation to telecommunication industry giving a positive impact towards the Company in winning many new contracts and consequently resulting in a

of Iwaki-Fukushima and Ueda Solar Power Projects with the Company's total attribution installed capacity of approximately 20.11 megawatts. This is done to avoid the impact from the Projects

minary opini and and stru prising two 1.5-storey f land with Mai District, rea of 2 rai, Khon Kaen a total area ; and comprising a 3-storey any impact gage in the In addition, penditures. vel and the for

to the Company’s existing shareholders to mitigate an impact on those shareholders after the Company’s stake in CAZ is reduced. The transaction is considered the disposition of assets in accordance

1 MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 2017 MD&A FY 2017 (ended 31 December 2017) 12 FEB 2018 MEDIA INDUSTRY AND BUSINESS IMPACT ANALYSIS Thailand’s economic recovery remained on track and