Plc. I 8 Statement of Income Consolidated Statement of Income Q4/2017 (Restate) Q3/2018 Q4/2018 YoY QoQ 2017 (Restate) 2018 YoY Revenue from sale of goods and rendering of services 46,306 53,461 48,781

1 MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 2017 MD&A FY 2017 (ended 31 December 2017) 12 FEB 2018 MEDIA INDUSTRY AND BUSINESS IMPACT ANALYSIS Thailand’s economic recovery remained on track and

of consideration basis, calculated from the Company’s reviewed consolidated financial statements for 9-month period as of 30 September 2017. Therefore, the entering of transaction when combined with

) 88.4% Progress on track Amata B.Grimm Power (Rayong) 5 Type of Fuel Combined Cycle Cogeneration Installed Capacity Electricity 133 MW / Steam 30 t/h Economic Ownership 55.5% SCOD 1 Oct 2018 EGAT PPA 90

COMPANY LIMITED Management’s Discussion and Analysis Progress on track PROGRESS OF PROJECTS UNDER CONSTRUCTION AS OF 30 APRIL 2018 ABBREVIATION & OUR PROJECTSEXECUTIVE SUMMARY FINANCIAL PERFORMANCE

Solar PV Installed Capacity 31 MW (combined 7 plants) Economic Ownership 100.0% SCOD 30 Dec 2018 PEA / MEA PPA 31 MW / 25 years % Progress 43.8% Progress on track Nam Che 1 Hydro Power Project Type of

position for the second quarter and the first half of 2017 with those of 2016. This report discusses principal changes in the unaudited consolidated financial statements. Overall market environment The Thai

position for the second quarter and the first half of 2017 with those of 2016. This report discusses principal changes in the audited consolidated financial statements. Overall market environment The Thai

reserve The result of this agreement is to eventually enhance operating margin of our gas-fired combined cycle cogeneration projects. Projects under construction are on track Nam Che 1 Hydro Power Plant

September 2017 total assets of consolidated financial statements increased by Baht 115.18 million or 4.7% compared with last year. An increase mainly arise from cash equivalents of Baht 32.77 million since