1 Ref: AC.028/2018 13 November 2018 Subject: Management discussion and analysis of financial position and operating results To: President and Manager The Stock Exchange of Thailand Overall operating

% because the overall size of the projects delivered in the Q3-2022 are greater than those in Q3-2023 Total operating expenses in Q3- 2023 have changed in the same direction and at a similar rate with the

ANALYSIS (For the Consolidated Financial Statements of the Year Period Ending December 31, 2019) (1) Overall Operating Results For the year 2019, the total revenue from sales and services of the Company and

2018, Master & More Company Limited (“Master & More”), a wholly-owned subsidiary of MACO, has acquired all remaining shares of 20% in Open Play Company Limited (“Open Play”) with a total investment value

from the economic slowdown as a result from the COVID-19 pandemic, which started in early 2020. Advertising business revenue increased by 3.1% YoY, a contribution of 44.0% of total revenue or THB 270mn

the first quarter of 2023 and increased by 0.7% in 2Q/2023. For the 2Q/2023, the Company has total new sales increased by 7% y-y, mainly due to the continual increase in credit card spending and

c i a l H i g h l i g h t s 1 1EBITDA Margin and Net Profit Margin are calculated from Total Revenue Executive S u m m a r y : • The Company reported net profit in Q4/2023 and 2023 of THB 47 million

: Q 2 / 2 0 2 4 K e y F i n a nc i a l H i g h l i g h t s 1 1EBITDA Margin and Net Profit Margin are calculated from Total Revenue Executive S u m m a r y : • The Company’s EBITDA in Q2/2024 and 1H

Profit Margin are calculated from Total Revenue Executive S u m m a r y : • The Company reported Net Profit in Q3/2024 and 9M/2024 of THB 83 million and THB 210 million respectively, increased by 54% from

total cost increased 5.2% YoY. Total administrative expenses decreased 2.8% YoY. Gross profit ratio and operating profit ratio stood at 48% and 34.8%, respectively. Net profit decreased 8.7% YoY. Overall