minority shareholders according to the percentage of shareholding of net profit in subsidiary through the period of its holding which was amount by Baht 14.47 million and 28.05 million for the period of

the SET and send a circular letter to the shareholders of the Company within 21 days from the date on which the information memorandum on entering into such transaction is disclosed to the SET. The

Stock Exchange of Thailand and provide information to the shareholders within 21 days from the date of notification to the stock exchange. Details of such items appear in Attachment 1: Acquisition of

investment in a subsidiary company to Japanese alliance. The Company and its subsidiaries recognized profit sharing to minority shareholders according to the percentage of shareholding of net profit in

2022. In response to COVID-19 pandemic, for the sake of health and safety of our clients, employees, shareholders and stakeholders as well as taking care of our partners being impacted from government’s

), following to the approval at the Annual General Meeting of Shareholders held on 24 April 2019. MANAGEMENT DISCUSSION & ANALYSIS FOR THE 3-MONTH ENDED MARCH 2020 (3M 2020) 15 JUL 2020 MASTER AD PUBLIC COMPANY

% 30.1 25.1% Net Profit attributed to Equity Shareholders 118.3 4.3% 104.8 3.9% -13.5 -11.4% Revenues Analysis The Company’s total revenue for the first quarter of 2020 was 2,664.4 million Baht which was a

company On Oct 1’ 2010, the company sold partial investment in a subsidiary company to Japanese alliance. The Company and its subsidiaries recognized profit sharing to minority shareholders according to the

5.81% (5.09) (2.89%) Total liabilities 2,332.56 88.24% 2,079.12 70.79% (253.44) (10.87%) Total shareholders' equity 310.78 11.76% 858.11 29.21% 547.33 176.11% Total liabilities and shareholders' equity

assets 9. Property, plant and equipment 10. Intangible assets 11. Other assets Total assets Liabilities and shareholders’ equity (Unit:Baht) Consolidated The Company only ( 20..) ( 20..) (20..) (20