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

2 new investors in Pace Project One Co., Ltd. and Pace Project Three Co., Ltd., the Company engaged independent financial advisory firm to measure the fair values of investments in these 2

2Q 2019 CONSOLIDATED P&L SNAPSHOT * The Company restates the financial performance starting from 1 August 2018 after the measurement of fair value of Trans.Ad Group’s identifiable assets was completed

management while expanding into profitable segment with higher asset quality taking in careful considerations the economic conditions. The overall Bank’s loan portfolio as of end of 3Q20 expanded by 8.2% 2

countries. The tourism sector has been adversely affected by a contraction of Chinese tourists’ arrivals while private investment has been expanding at a slower rate. Although private consumption has

Company has acknowledged the situation and adjusted the strategy and marketing plans accordingly to minimize the impact, by focusing in expanding the customer base and emphasizing in online channel

Building Confidence in the Capital Market No. 22/2018 SEC instructs EARTH to clarify the existence and the fair value of mining property rights Bangkok, 16 March 2018 – The SEC has instructed Energy

Mr. Poramin Insom Satang Corporation Co., Ltd. (Satang) by Mr. Poramin Insom, Chief Executive Officer and authorized director, entered into a market maker agreement with LLC Fair Expo by Mr. Mikalai

personal expenses and the depreciation because of the expanding capacity of subsidiaries. Sincerely yours, (Mr.Pongpat Patanavanich) Managing Director

Consolidated net loss for the period (Q1) amount -4.57 million compare with the same period (Q1) for the last year amount -2.80 because the Company Cost of Market Development of Expanding the customer base and