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

Resorts, which will become subsidiaries of the Company after the purchase of the equity of the Target Company, enter into Hotel Management Agreements with companies in the Seller Group concerning the

17 “Undertaking Transaction”). (The details of Undertaking Transaction appear in 1.3.2 “Undertaking Transaction”)  Approved the Authority of Chief Executive Officer in relation to the disposition of

507.9 1,179.2 671.3 132.2 Project Management and overhead expenses 158.5 273.3 114.8 72.4 Total Expenses 2,390.6 7,114.9 4,724.3 197.6 Profit before share of loss from investments in joint ventures, 808.5

Microsoft Word - MD&A 2017 EN.doc EFORL IR010/2018 March 20, 2018 Subject: Management Discussion and Analysis Yearly Ending 31 December, 2017 To President The Stock Exchange of Thailand 1. Overview

[COMPANY NAME] EFORL IR010/2018 March 20, 2018 Subject: Management Discussion and Analysis Yearly Ending 31 December, 2017 To President The Stock Exchange of Thailand 1. Overview financial

Ended December 31, 2018 To The President The Stock Exchange of Thailand Management Discussion and Analysis Consolidated Financial Statements For Financial Year ended December 31, 2018 Overall Group

R&B Food Supply Public Company Limited 24 February 2020 Re Management Discussion and Analysis for the year 2019 (Revised) Attn. The President The Stock Exchange of Thailand (SET) R&B Food Supply

R&B Food Supply Public Company Limited 24 February 2020 Re Management Discussion and Analysis for the year 2019 Attn. The President The Stock Exchange of Thailand (SET) R&B Food Supply Public Company

of the previous year with net income of Baht 85.60 million. The Baht 154.36 million of net profit or 180% decreased mainly from allowance for impairment loss in investment of Solaris Asset Management