1 MD&A 3Q 2017 (Ended 30 September 2017) MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 3Q 2017 20 OCT 2017 MEDIA INDUSTRY AND BUSINESS IMPACT ANALYSIS The popularity of outdoor media has

DCORP 020/2018 Date 27 February 2018 Subject: Board of Directors’ meeting resolution regarding the operation of the biogas power plant project of Aukkrarawat Plant Renewable Energies Co., Ltd

services, classified by operation areas: Unit : Million Baht Revenues from dental service For the 3 months Change between YoY For the 6 months Change between YoY Q2/20 Q2/19 Amount % Q2/20 Q2/19 Amount

financial liquidity and the cash flow for debt repayment and business operation, as the Company has continuous loss. Thus, the Company considers the business restructure of the Company’s group, whereby the

for machinery totaling 8,520,750 baht), which the Company considers that this is a sufficient period for the Subsidiary to continue operation and benefit to the business. Hence, the Company has

Looking Year 2018 was a challenging year for the Company’s business operation. The Company's operating performance did not meet the target due to impacts both from external and internal factors. The

and net loss of THB 317.93 million primarily due to: • THB 233.38 million of loss from Power Plant Business (which has been disposed since Q3-2020) • THB 45.43 million of impairment of assets in parent

authorized to make decisions on company’s business operation on behalf of the board of directors; “Department director” means any person who is responsible for the internal operation of a department in the

compared to the same period last year. Total revenues constituted of the following: 1) Revenue from the hotel business of THB 1,527.1mn, which grew by THB 1,246.0mn or 443.2% when compared to the same period

year due to some initial cost of ramping up of the UHT OEM operation in this quarter. 2/5 Food business The food cost of sales increased according to sales growth. However, the ratio of food cost to