Income Statement Highlights of Performance in Q3/2018 and 9-month of 2018  9 month’s total revenues growth at 32.9% and net profit growth at 26.1 which is in line with the Company’s target Q3/2018 Q3/2017

the real estate has an income guarantee, specify significant information such as conditions of the income guarantee agreement and information on the guarantor and credit rating (if any); - summarized

days (days) 138 126 Efficiency Ratios Leverage Ratios Return on assets4 (%) 10.2% 5.1% Liability to Equity (times) 0.4 0.6 Return on fixed assets5 (%) 58.4% 29.7% Debt to equity (times) 0.0 0.2 Asset

assets* (%) 12.2% 8.6% Liability to equity (times) 1.6 0.6 Return on fixed assets* (%) 75.8% 68.5% Debt to equity (times) 1.0 0.4 Assets turnover* (times) 0.5 0.4 Remark: - Financial ratios were calculated

partly offset by cash paid for corporate income tax of THB 45mn. Net cash used in investing activities was THB 369mn, mainly from cash paid for 1) acquisition of equipment of THB 210mn from expansion of

to Equity (times) 0.6 0.3 Return on fixed assets5 (%) 45.5% 63.4% Debt to equity (times) 0.2 0.2 Asset turnover (times) 0.5 0.6 9 MD&A 2Q 2018 (ended 30 June 2018) MASTER AD PLC MANAGEMENT DISCUSSION

Efficiency Ratios Efficiency Ratios Return on assets4 (%) 10.3% -1.5% Liability to Equity (times) 0.6 1.1 Return on fixed assets5 (%) 50.3% -12.3% Debt to equity (times) 0.2 0.3 Asset turnover (times) 0.7 0.4

398.2 13.8% (5.6%) 887.7 748.2 (15.7%) Net gain on exchange rate 62.7 94.5 16.4 (82.6%) (73.8%) 45.3 110.9 144.8% Gain (loss) on forward contracts 0.1 16.7 (4.9) N.A. N.A. (1.4) 11.9 N.A. Other income

business acquisition 2.2 - - - N.A.(

use amortized assets 53,554 Interest Expense 10,910 Deferred income tax (income) expenses (1,927) Thai Financial reporting standard - Financial instruments group Allowance for impairment 1,900 Deferred