totaling THB 43mn were excluded, the Company recorded recurring net profit of THB 10mn compared to a net loss of THB 64mn in the previous year. SEGMENTAL PERFORMANCE 3Q 2018 REVENUE CONTRIBUTION BY SEGMENT

a Derivatives Business Operator _________ Whereas Section 24 of the Derivatives Act B.E. 2546 (2003) and Clause 2 of the Notification of the Securities and Exchange Commission No. KorThor/Nor/Khor. 37

Operator _________ Whereas Section 24 of the Derivatives Act B.E. 2546 (2003) and Clause 2 of the Notification of the Securities and Exchange Commission No. KorThor/Nor/Khor. 37/2548 Re: Qualifications and

of an Executive of a Derivatives Business Operator _________ Whereas Section 24 of the Derivatives Act B.E. 2546 (2003) and Clause 2 of the Notification of the Securities and Exchange Commission No

% yoy, +6% qoq) and non- mobile enterprise business grew 13% yoy. We continued on with cost optimization while expanding 5G network which resulted in controlled cost of service (+3% yoy, -0.5% qoq) and

the Group to expand its media offerings on a massive scale. MANAGEMENT DISCUSSION & ANALYSIS 2019 11 Feb 2020 MASTER AD PUBLIC COMPANY LIMITED 2 INTERNATIONAL MARKET – EXPANDING INTERNATIONALLY ACROSS

customer acquisition rose to 64,500 in the quarter, resulting in total subscribers of 795,000. Despite elevated price competition in operator- switching segment, the Power4Maxx, a fixed- mobile- content

latency and speed boost in both upload and download were also advertised to target eSports segment. 2Q19 Operational Summary In 2Q19, total mobile subscribers stood at 41.5mn, flat QoQ, with data

expanding of production line. By the way, no significant change in sales and service income of Quarter 4 compared to Quarter 3 2019, except sales of electricity of Solar Energy Power Plant which increase by

due to sales recovery in almost every segment, while cost per unit decreased QoQ due to higher capacity utilization and improved cost management. 2. Overview of Domestic Economy and Ready-to-Drink Fruit