sell the advertising time during the broadcasting of 254.79 Golf European Tour Program Less: Payment received from selling the advertising time March 8, 2016 (0.18) March 25, 2016 (1.84) March 31, 2016

from the same period of the precedent year by Baht 38 million or 10% decrease because the Company and its subsidiaries’ advertising and public relation expenses decreased by Baht 46 million, sales

the Company and subsidiaries for the year 2016 % holdings Before % % holdings After % Publishing and advertising NMG 100.00 100.00 Advertising income 20.08 0.92% 20.08 1.21% Circulation income 34.23

by Baht 102 Million or 17. 8 percent, mainly from the commercial development revenue related to rail business especially from the advertising and retails which the subsidiary has improved the

% Advertising income 7.52 0.9% 1.85 0.2% 2.71 0.3% 46.5% -64.0% Total revenue from core business (3 items) 848.81 100.0% 798.65 100.0% 804.20 100.0% 0.7% -5.3% Cost of services (664.22) -78.3% (629.36) -78.7

Company must plan in advance such as advertising expenses spent on various media. Furthermore, the Company introduced its new products in the second quarter of 2019 which are 4 formulas of SnailWhite Gold

) Advertising and PR expense 0.76 0.51 0.25 48.26 1.44 0.94 0.49 52.13 Sales promotion - CLMV 0.00 0.01 (0.01) (100) 0.00 2.05 (2.05) (100) Sales incentive 2.57 2.35 0.22 9.48 4.73 4.03 0.71 17.55 Others 0.77

September Selling expenses Consolidated financial statements Change Increase/(Decrease) For Three Months Period Ended 30 September 2017 2018 THB mm % THB mm % THB mm % Advertising and promotional expenses

did not fully mirror the slowdown in revenue as there is a lead time for certain expenses that the Company must plan in advance such as advertising expenses spent on various media. Furthermore, the

. 30, 2019 Sep. 30, 2018 Amoun % Credit card fee 1.85 2.05 (0.19) (9.50) 5.11 5.61 (0.50) (8.91) Advertising and PR expense 0.18 0.54 (0.36) (66.87) 1.62 1.48 0.13 8.97 Sales promotion - CLMV 0.00 0.00