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

and Analysis For the 1st Quarter Ended 31 March, 2019 Page 3 2. Operation performance according to consolidated financial statement Unit : Million Baht 2019 2018 Revenue from sales and rendering of

: Baht millions) For the year ended 31 st March Consolidated financial statement Apr 2018 - Mar 2019 Apr 2017 - Mar 2018 Change % Change Revenue from sales & service 3,293.90 3,376.19 -82.29 -2.4% Other

Consolidated Interim Financial Statements the three-month and the nine-month period ended 30 September 2018, which have been reviewed by the Company’s authorized auditor. The company would like to clarify the

the Company in June 12, 2018. Discussion of results of operations Consolidated financial statements Six Months 2018 Six Months 2019 % Change from Six Months Ended 2018 and 2019 THB million % THB million

organization to a business unit. The digital transformed will also be achieved to improve the operational process to be flexible and increase the efficiency of expense management and operational costs. The 4

– Consolidated (Million Baht) For 3-month period ended March 31, Increase (Decrease) % 2020 2019 Revenues from sales and services 156.84 182.43 (25.59) (14.03%) Gross profit from sales and services 33.38 37.25

Position Analysis 4.1 Operating Performance KBank’s consolidated net profit for the third quarter of 2018 totaled Baht 9,744 million, decreasing Baht 1,173 million or 10.75 percent over-quarter, and

consecutive year 16 4. Operating Performance and Financial Position Analysis 4.1 Operating Performance KBank’s consolidated net profit for the second quarter of 2018 totaled Baht 10,917 million, slightly

to the Notification of Acquisition or Disposition of Assets and refer to the consolidated financial statements of the Company for the 6 months period ended 31 December 2017. And the consolidated