MANAGEMENT DISCUSSION & ANALYSIS 2Q 2019 7 AUGUST 2019 MASTER AD PUBLIC COMPANY LIMITED NATIONWIDE COVERAGE 1 QUARTERLY BUSINESS REVIEW – 2Q 2019  Consolidated revenue increased by 161.5% YoY to THB

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. 7 2 ) million or (2 0 2 % ) as the following reasons: • Total income increased Baht 92.32 million or 6% from Baht 1,580.25 million in 2017 to Baht 1,672.58 million in 2 0 1 8 . The main increase was

-Translation- No. ECF2 057/2016 August 10, 2017 Subject: Management Discussion and Analysis of the 2nd quarter ended June 30, 2017 To President The Stock Exchange of Thailand East Coast Furnitech

WATTANAPAT HOSPITAL TRANG PUBLIC COMPANY LIMITED No. WPH – SET 4/2017 8 November 2017 Subject : Management Discussion and Analysis for the 9-month period and Quarter 3 of 2017 ending on 30 September

reasons for the decline of cost ratio not only stemmed from the increase of SW income and non-sw income per head but also from the efficient cost management particularly staff cost. Administrative Expenses

14 November 2019 Subject: Management Discussion and Analysis for the 9-Month Period Ended September 30, 2019 To: Directors and Managers The Stock Exchange of Thailand Halcyon Technology Public

77/1 SOI RUAM SIRI MIT,CHOM PHON, CHATUCHAK, BANGKOK 10900 Tel. 02 093 1681- 3 Fax. 02 093 1684 Website: www.eicasia.net Page 1 of 4 (Translation) Ref: EIC-AD003/2020 2 March 2020 Subject: Management

@halcyon.co.th No. CS-2563/013 14 August 2020 Subject: Management Discussion and Analysis for the 3-Month Period Ended 31 March 2020 To: Directors and Managers The Stock Exchange of Thailand Halcyon Technology