Feb 25th, 2019 Subject Management Discussion and Analysis for the year ended December 31, 2018 To The President The Stock Exchange of Thailand Day Dream Public Company Limited (the “Company” or “we

28 February 2020 Subject Management Discussion and Analysis for the years ended December 31, 2019 To The President The Stock Exchange of Thailand Do Day Dream Public Company Limited (the “Company” or

MANAGEMENT DISCUSSION & ANALYSIS 1Q 2019 13 MAY 2019 MASTER AD PUBLIC COMPANY LIMITED NATIONWIDE COVERAGE 1 QUARTERLY BUSINESS REVIEW – 1Q 2019 • Consolidated revenue increased by 149.3% to THB 689mn

14 November 2019 Subject Management Discussion and Analysis for the nine months period ended Sep 30, 2019 To The President The Stock Exchange of Thailand Day Dream Public Company Limited (the

MANAGEMENT DISCUSSION & ANALYSIS 2Q 2020/21 ENDED 30 SEPTEMBER 2020 09 NOV 2020 MASTER AD PUBLIC COMPANY LIMITED 4 13 May 2019 FINANCIAL POSITION From 1 January 2020, the Company has adopted Thai Financial

(F53 N.D. Rubber Public Company Limited (“ No.5/2017 held on November 26, 2017 which has the material resolutions as follows 1. Approved to propose the Shareholders’ Meeting to approve the Company to

No. ECF2 035/2562 23 September 2562 Subject Notification on the resolutions of the Board of Directors’ Meeting approving the purchase of the ordinary shares in KPN Academy Company Limited, the

. Management’s Discussion and Analysis S Hotels and Resorts Public Company Limited S Hotels & Resorts, A Singha Estate Company | www.shotelsresorts.com Page 9 of 9 Analysis of Financial Position and Investment

Energy Company Limited and RICI International Investment Pte. Limited On August 25, 2017, Ratchaburi Energy Company Limited, a direct subsidiary, sold its entire ordinary shares totaling 1,260,000 shares

inevitably affected the Company’s operating revenue. In addition, the Company had invested in renovating its long overdue hotels to enhance competitive edge in the market. Moreover, the economic slowdown and