Current liabilities Non-Current liabilities Equity 3,978 0 4,801 4,801 41.8% 58.2% 45.0% 55.0% 2.3% 28.3% 69.4% 36.7% 59.9% 3.5% MANAGEMENT DISCUSSION & ANALYSIS 3Q 2019 6 NOV 2019 MASTER AD PUBLIC COMPANY

: President The Stock Exchange of Thailand According to JAS Asset Public Company Limited (the “Company”) Meeting Resolution No. 7/2019 on 11 November 2019, the resolution to certify the Company’s financial

-2741-6878 / Company Tax ID : 0107545000021 Total non-current assets 35.39 31.64 27.44 Total assets 156.99 163.01 197.18 Current liabilities Bank overdrafts and short-term loans from financial

No. CAZ 1/2019 21st January 2019 Subject: Management Discussion and Analysis Quarter 3rd ending 30 September 2018 Attention: The President The Stock Exchange of Thailand CAZ (Thailand) Public Company

No. CAZ 002/2019 26 February 2019 Subject: Management Discussion and Analysis Year ended 31 December 2018 Attention: The President The Stock Exchange of Thailand CAZ (Thailand) Public Company Limited

and non-current liabilities increased amount of 165 million increase long-term borrowings from a financial institution. The shareholders’ equity of the company has increased in the amount of THB 74

/ Company Tax ID : 0107545000021 Total non-current assets 35.39 31.64 27.44 Total assets 156.99 163.01 197.18 Current liabilities Bank overdrafts and short-term loans from financial institutions 20.15 16.66

3,629mn, declined by 22.7% YoY. In this quarter, MACO outperformed the media industry significantly, delivering solid operating revenue of THB 262mn, an increase by 52.1% YoY. The Company reported net

Company had total assets of 10,141.7 million Baht, divided into current assets of 1,924.8 million Baht, representing 19 percent of total assets, and non-current assets of 8,217.0 million Baht, representing

/ Company Tax ID : 0107545000021 Liabilities under finance lease agreements, net of current portion 8.62 - - Provision for loan-term employee benefits 6.60 9.41 14.54 Total non-current liabilities 32.18 40.88