subsidiaries as follows: The Company and Subsidiaries Operating Performance of 3rd Quarter Ending September 30th, 2019 Revenues from Sales and Services In Q3 2019, the Company and subsidiaries generated revenues

sustain its growth. Overall, however, it was plagued by weak exports and tourism amid the global economic slowdown. Aside from these challenges, businesses had to contend with more complex competition

Global Green Chemicals Public Company Limited Management Discussion and Analysis For the Operating Results of 2Q2020 P a g e | 2 - Management Discussion and Analysis 2Q2020 - CONTENTS Executive

performance of Boonterm kiosk with the ARPU management more than 5% of growth from 2017 and relocating the kiosks from the area that generate low income to the new area that generate higher income. As well as

resolutions of the Board of Directors’ Meeting No. 9/2018, which was held on November 27, 2018. This was due to the fact that the manufacturing business’ operating results were declining, the percent of

The Stock Exchange of Thailand 1. Analysis of Overall Operating Results and Financial Position of the Company and its subsidiary 1.1 Analysis of Overall Operating Results for the Company and its

capture growth and bolster our leadership in OOH media business in overseas markets. BUSINESS OVERVIEW AFTER THE RESTRUCTURING MANAGEMENT DISCUSSION & ANALYSIS 2Q 2019 7 AUGUST 2019 MASTER AD PUBLIC COMPANY

company increased by Baht 1,154 million or 118% from Q4/2018 and increased by Baht 646 million or 43% from Q1/2018. The increase was mainly due to improved operating results of the Sriracha Power Plant and

increase was mainly due to (1) increased number of branches, (2) the positive same-store-sales growth during 2017 and (3) the increased sales of raw material to franchisees. Revenue from franchise fees

of THB 375.9 Mn or 21.3% and was mainly due to (1) increased number of branches, (2) the positive same-store-sales growth and (3) the increased sales of raw material to franchisees. Franchise fees