Billboard category. Volvo Lightening-powered billboard 3 MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 1Q 2018 MD&A 1Q 2018 (ended 31 March 2018) 14 MAY 2018 DIVIDEND PAYMENTS - On 25 April 2018, the

million, or a decrease of 6% compared to the total shareholders’ equity as at 31 December 2017, which was Baht 2,720 million. The change was due to the net profit for the period, the dividend payment to the

were from the net profit amounting to Baht 56.90 million and dividend payment of Baht -26.40 million. Therefore, portions of company shareholding interest and non-controlling interest of subsidiary stood

at 31 December 2017, which was Baht 2,720 million. The change was due to the net profit for the period, the dividend payment to the shareholders and the share repurchase of the subsidiary. The

higher than VWAP but still lower than the book value per share of MK. 7. Expected Benefits to the Company The Company will have opportunities to receive capital gain and dividend at the appropriate rate

investments in available-for-sale securities and dividend payment in May 2020. Cash Flows As at September 30, 2020, the Company and its subsidiaries had cash and cash equivalents amounting to Baht 2,283 Million

dividend payment (if any); (6) method of payment of money or other assets; (7) issuance and delivery of the entitlement documentation of investment units; (8) preparation of the register of investment units

persons of the REIT manager; (11/1) transactions being conflict of interest between the REIT and a trustee; (12) disclosure of information of the REIT; (13) payment of distribution to unitholders; (14

1,223.2 LH Financial Group Public Company Limited Management Discussion and Analysis for the First Quarter ended 31 March 2020 Page 6/20 Items Quarter Variance 1/2020 1/2019 Amount (%YoY) Dividend income

Credit Rating Fitch National rating: AA+ (THA), Outlook: Stable S&P BBB+, Outlook: Stable Source and Use of Fund: FY22 (Bt.mn) Source of fund Use of fund Operating cash flow 87,762 Dividend paid 22,871