Revenues from sales Revenues from sales 56.46 72.01 (15.55 ) (0.22 ) Other income 1.66 1.96 (0.30 ) (0.15 ) Total Revenue 58.12 73.97 (15.85 ) (0.21 ) Expenses Cost of sales 37.80 64.34 (26.54 ) (0.41

rail business 5,022 4,736 286 6.0 Revenue from commercial development business 783 705 78 11.1 Total revenue from main business 16,107 15,615 492 3.2 Interest income from the MRT Purple Line Project 380

67.37 94.72 27.35 40.60% Income tax expenses 59.19 65.40 6.21 10.49% Net profit 227.68 252.81 25.13 11.04% Net profit ratio (ROS) 16.00% 14.78% Earnings per share (Baht) 0.37 0.42 0.05 13.51% Total

several projects in Q3-2022 and the accrued income from projects that recognized revenue by stage of completion in the previous quarter which have been invoiced for billing from customers in Q3-2022

MANAGEMENT DISCUSSION & ANALYSIS 1Q 2019 13 MAY 2019 MASTER AD PUBLIC COMPANY LIMITED NATIONWIDE COVERAGE 1 QUARTERLY BUSINESS REVIEW – 1Q 2019 • Consolidated revenue increased by 149.3% to THB 689mn

) Other revenue from operations 27.80 28.76 (0.96) (3.3) Total revenues 243.73 242.48 1.25 0.5 (million) 2019 2018 increase (decrease) Other income Other income for the first quarter of the year 2019 of

Company’s primary source of income, was accounted for 77.3 percent and 76.5 percent of total operating revenue. Passenger revenue consists of earnings from scheduled flights and chartered flights with details

65.96% Non-controlling interests - - - - Total comprehensive income attributable to Owners of the Company (87.66) (259.81) 172.15 66.26% Non-controlling interests - - - - 1. Operating revenue In summary

in sale revenue from DAIWA's clients. Other Income 5.9 4.1 (30.3%) The main reason was causes from the decreasing income earning from the foreign exchange Total Revenue 219.1 200.5 (8.5%) Cost of sales

%, while total revenue decreased by 4.4% due to the company's gain from sales of investment in 2022. Including, the rental income from equipment for lease has also increased significantly. Operation Overview