2016 30 JUNE 2017 Not yet due 134 116 Up to 3 months 47 651 3 - 6 months - 1 6 - 12 months - 1 Over 12 months 14 11 Total 195 194 Allowance for doubtful debt 14 11 1 Trade receivables aged up to 3 months

Up to 3 months 89 172 3 - 6 months 0 30 6 - 12 months 0 19 Over 12 months 13 15 Total 227 477 Allowance for doubtful debt 11 6 1,502 2,77345 51 479 851 31 Dec 17 30 Sep 18 Current liabilities Non

yet due 176 182 Up to 3 months 182 134 3 - 6 months 76 72 6 - 12 months 12 66 Over 12 months 13 13 Total 459 467 Allowance for doubtful debt 31 31 MANAGEMENT DISCUSSION & ANALYSIS 1Q 2020/21 ENDED JUNE

13 19 Total 459 472 Allowance for doubtful debt 31 85 MANAGEMENT DISCUSSION & ANALYSIS 2Q 2020/21 ENDED 30 SEPTEMBER 2020 09 NOV 2020 MASTER AD PUBLIC COMPANY LIMITED 5 13 May 2019 LIABILITIES AND

months - 0 Over 12 months 13 8 Total 227 147 Allowance for doubtful debt 11 6 1,344 1,366 667 656 31-Dec-17 31-Mar-18 Current assets 32.5% 2,022 Non-current assets 67.5% 1,494 1,546 38 38 479 438 31-Dec-17

and total liabilities stood at THB 6,714.9mn. • Debt to Equity ratio2 equals 1.00 times as of 31 March 2020, decreased from 1.04 times as at end of 2019. Operating result 1Q/2020 Revenue Source of

27 Over 12 months 11 28 Total 509 549 Allowance for doubtful debt 6 9 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES AND EQUITY BREAKDOWN 31 DECEMBER 2018 (Restated) 30 SEPTEMBER 2019 (THB mn) % out

debt 14 11 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES AND EQUITY BREAKDOWN 31 DECEMBER 2016 30 SEPTEMBER 2017 (THB mn) % out of total liabilities and equity (THB mn) % out of total liabilities and

months 145 160 3 - 6 months 67 30 6 - 12 months 13 27 Over 12 months 11 11 Total 509 455 Allowance for doubtful debt 6 7 LIABILITIES AND SHAREHOLDERS’ EQUITY LIABILITIES AND EQUITY BREAKDOWN 31 DECEMBER

Station and Bang Sue Station - Tha Phra Station) which will be connected and operated as a Through Operation. The MRT Blue Line Extension Project, which has a total distance of 27 kilometers with 20