crude steel production for September 2017 was 71.8 million tons, as top rank of 4. Industry Overview and Outlook Flat Steel Product ($/T) Management’s Discussion and Analysis (MD&A) For Q3/2017 4 the

closure of non- performing stores and a shift to delivery service. Other business units Unit: Million Baht Q1/2020 Q1/2019 %YoY Q4/2019 %QoQ Revenue from other businesses 9.22 8.84 4% 10.14 (9%) EBITDA

declared as the “Year of Shift”. It is the opportunity for the organization, high-ranking executives and staff to revise the business model in order for the organization to achieve stable growth and the goal

estate business and thus the Company has to revise its strategy and target group. The year 2017 marks “The Year of Shift”. First of all, the target customers of the Company have been changed from middle to

and Analysis for the three-month period ended 30 Jun. 2018 To : Director and the President The Stock Exchange of Thailand Summary of the Company’s Financial Position and Operating Result for the 3 and 6

and Analysis for the three-month period ended 30 Sep. 2018 To : Director and the President The Stock Exchange of Thailand Summary of the Company’s Financial Position and Operating Result for the 3 and 9

Practice Lead, GMO, said, “We are witnessing a fundamental shift in the way in which investors are integrating material ESG risks and opportunities, such as climate change, and diversity, into their

sustainable development. This shift in recognition of society, environment and corporate governance has been driven by the fact that no business could survive the collapse of society and thus, has to extend its

1 MD&A 2Q 2018 (ended 30 June 2018) MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 2Q 2018 6 AUG 2018 MEDIA INDUSTRY In recent years, advertising industry has witnessed the shift in the media

Middle East) 1,162.5 million tons; where China alone had crude steel production for 2017 was 831.7 million tons, as top rank of the world, increase by 5.7% compared to 2016. The second and Third most