AD PLC MANAGEMENT DISCUSSION & ANALYSIS 2Q 2017 1 AUG 2017 181 91 90 190 102 88 199 108 91 Operating Revenue Billboard Street Furniture 2Q 2016 1Q 2017 2Q 2017 2Q 2017 CONSOLIDATED P&L SNAPSHOT

Billboard initiated by GREYNJ UNITED agency which was presented on MACO’s large-format billboard was granted Gold award from ADFEST 2018 TRANSFORM in Best use of Billboard & Street Furniture, Large/Highway

the asset manager for all Master Ad Public Company Limited’s (“MACO”) domestic Outdoor media, including Static and Digital billboards and Street Furniture media (BTS Columns and flyovers); while MACO

Company would like report the information about acquisition of property with appear by acquisition of property (Attachment) Please be informed accordingly. Yours sincerely, (Mrs. Araya Kongsoonthorn) Chief

. YUTH VORACHATTARN CHAIRMAN OF THE BOARD OF DIRECTORS / INDEPENDENT DIRECTOR / AUDIT COMMITTEE 2. Mr. ITTHIPAT PEERADECHAPAN CHIEF EXECUTIVE OFFICER / DIRECTOR 3. Mr. SOMBOON PRASITJUTRAKUL DIRECTOR 4

Mr. Chamnan Chanapai, Chief executive officer for the operation of RAMKHAMHAENG Mr. Chamnan Chanapai, Chief executive officer for the operation of RAMKHAMHAENG HOSPITAL PUBLIC COMPANY LIMITED (“RAM

the contribution of TST Tower of THB 6mn and the increase in rental income of Gracechurch Street office building. Other income grew 16.8% YoY or THB 21mn. The growth in other income was primarily from

result of the contribution of TST Tower of THB 28mn and higher revenue from 33 Gracechurch Street office building of THB 19mn. Other income grew 111.0% YoY or THB 92mn. Higher other revenues (which

/79 CTI TOWER 12TH FLOOR NEW RATCHADAPISEK ROAD, KLONGTOEY, BANGKOK, 10110 KHLONG TOEI, KHLONG TOEI, Bangkok 10110 Tel.023027100 Fax.023027101 5 WALL STREET TULLET PREBON SECURITIES CO.,LTD. 33/64 WALL

Mr. Yannakorn Warakunrak Mr. Yannakorn Warakunrak, the Chief Executive Officer, responsible for the operation of the Polaris Capital Public Company Limited (“POLAR”), shall be liable for POLAR’s