Thailand 2 MD&A 2Q 2017 (Ended 30 June 2017) MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 2Q 2017 1 AUG 2017 IMPORTANT EVENTS IN 2Q 2017 On 16 May 2017, MACO’s Board of Directors approved the acquisition
Incomes mainly consists of Interest Income from Loans to GHECO-One and Dividends Received from Investments in Glow IPP Power Plant1. 5 Administrative Expenses and Income Tax (Expnese) Income include the
from that of the same period of last year. Major Developments in 9M17 • Approved in the EGM 1/2016, in 1H17 the Company acquired 60% stake in NVD, previously called Daii Group Plc. (‘DAII”), through the
lease payment of Singha Complex. Major Developments in 2017 • Approved in the EGM 1/2016, in 1H17 the Company acquired 60% stake in NVD, previously called Daii Group Plc. (‘DAII”), through the following
DCORP 020/2018 Date 27 February 2018 Subject: Board of Directors’ meeting resolution regarding the operation of the biogas power plant project of Aukkrarawat Plant Renewable Energies Co., Ltd
and lending (SBL); “Central securities depository” means any central securities depository under the law on securities and exchange; “Depositor” means a person approved by the central securities
depository” means any central securities depository under the law on securities and exchange; “Depositor” means a person approved by the central securities depository or the Bank of Thailand to make securities
securities borrowing and lending (SBL); “Central securities depository” means any central securities depository under the law on securities and exchange; “Depositor” means a person approved by the central
December 2001 shall be repealed. Clause 2. In this notification: “Investor contact person” means a natural person who has been approved to be an investor contact person under the Notification of the