the Group to expand its media offerings on a massive scale. MANAGEMENT DISCUSSION & ANALYSIS 2019 11 Feb 2020 MASTER AD PUBLIC COMPANY LIMITED 2 INTERNATIONAL MARKET – EXPANDING INTERNATIONALLY ACROSS

, which was, the government issued the Labor Protection Act (No. 7 ) B.E. 2019, prescribing the rate of severance pay that increased from 300 days to 400 days Such change resulted in an increase of the

operating results included in the consolidated financial statements, together with the increase in sales of liquid products and products because the company becomes more well-known and able to expand its

1 - Translation - Ref: JKNGB-003-02/2019 February 27, 2019 Re: Capital Increase in Subsidiary and Information Memorandum on Connected Transaction of JKN Global Media Public Company Limited and

property by considering on the proper location in one-connecting land with convenient transportation and is close to Rama 3 Road. There is a future project to increase value added of the assets by having the

schedule of EGM1/2020, Capital Decrease, Capital increase, an Increasing of investment cost in Carnival Magic Project, and compensation for design and construction to related person. (Update) To: Managing

Media Public Company Limited No. 2 (VGI-W2), Capital Increase through a General Mandate and Calling the 2018 Annual General Meeting of Shareholders To The President The Stock Exchange of Thailand

ethanol sales volume to increase by 171% YoY. Gross profit margin of molasses based ethanol business increased from lower raw material cost, while the gross profit margin for cassava based ethanol declined

unlimited data packages to attract high value customers and encourage prepaid to postpaid migration. The fixed broadband market continued to expand through fibre technology. Competition focused on speed and

transaction (by applying the same calculation method under the first calculation basis i.e. the Net Tangible Asset Basis, with the details as follows: (1) The transaction, after the capital increase of Origin