MANAGEMENT DISCUSSION & ANALYSIS 2Q 2020/21 ENDED 30 SEPTEMBER 2020 09 NOV 2020 MASTER AD PUBLIC COMPANY LIMITED 1 13 May 2019 QUARTERLY BUSINESS HIGHLIGHTS – 2Q 2020/21 MACO’s performance was

1 IDH-AC-000-อส6211/08.00 8 November 2019 Re: Management Discussion and Analysis Operating results for the three-month and nine-month period ended 30 September 2019 To: President The Stock Exchange

page 1/6 (TRANSLATION) Ref. WINNER 0004/2019 February 26, 2019 Re Management Discussion and Analysis (MD&A) for the year 2018 and for the year 2017 To The President The Stock Exchange of Thailand 1

- ร่าง - 1 Aug 10, 2017 Subject Management Discussion and Analysis for the period of three months ended 30th June 2017 To President of the Stock Exchange of Thailand Secretary of the Office of

page 1/6 (TRANSLATION) Ref. WINNER 0004/2019 February 26, 2019 Re Management Discussion and Analysis (MD&A) for the year 2018 and for the year 2017_revised To The President The Stock Exchange of

page 1/6 (TRANSLATION) Ref. WINNER 0004/2019 February 26, 2019 Re Management Discussion and Analysis (MD&A) for the year 2018 and for the year 2017_revised 2 To The President The Stock Exchange of

SAAM Energy Development Public Company Limited - 1 - 6 November 2020 Subject: Management Discussion and Analysis for the period ended 30 September 2020 To: The President The Stock Exchange of

TTTBB, and asset provision expense occurred in 4Q23. SG&A excluding TTTBB impact increased 20% YoY and 33% QoQ. EBITDA increased 4.6% YoY and 1.4% QoQ attributable to TTTBB consolidation. Excluding this

หนังสือแสดงการรับทราบความผิด 13 November 2019 Subject : Management Discussion and Analysis of third quarter ended 30 September 2019 Attn. : Director and Manager The Stock Exchange of Thailand Encls

items included depreciation as well as accounting adjustment (ie provision of staff benefit and SW income) Page 2 of 4 was contributed by sub- specialty care particularly neurology, general surgery and