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
expenses, which increased according to the increasing in number of employees to support the business expansion, pre-operation expenses as the result from the Group continuing expansion and new project
from the public and represent rights to holders to participate in pooled benefits from pooled contributions which are collectively managed where investors have no control over day-to-day operation, but
operation on 28 December 2020. On the other hand, sales of natural gas power plant decreasing from decrease in unit rate which is adjusted in line with the decline in average natural gas price, thus sales
operation on 26 November 2021. Sales of natural gas power plant also increased from increase in unit rate which is adjusted in line with the increase in average natural gas price. 3 Cost of sales and service
biomass power plants which increased by Baht 111.0 million as the result from successfully achieved Commercial Operation Date (COD) of Khlong Khlung SPP Hybrid Power Plant (Biomass and Solar Rooftop) in
the Company and NML and the land lease agreement under which the Company as a lessor will permit NML to lease and utilize the Company’s land and structures for NML’s business operation, have been signed
Exchange of Thailand Jubilee Enterprise Public Company Limited (“the Company”) would like to inform the operation results for the first quarter of year 2018 ended March 31, 2018 which had total turnover of
43.34 Million Baht by net cash flow provided by operation activities and cash flow from investment activities Please be informed accordingly Sincerely yours, Saowaluck Suwanprateep (Mrs.Saowaluck
: Clarification of the Company’s operation for year 2018 compared to 2017 To: Directors and Managers The Stock Exchange of Thailand PAE (Thailand) Public Company Limited and its subsidiaries would like to clarify