(3M 2020) 15 JUL 2020 MASTER AD PUBLIC COMPANY LIMITED 3 During 3M 2020, MACO recorded an operating revenue of THB 612mn, a decrease of 13.7% from THB 710mn in 3M 2019. The decrease was mainly affected

recognize share of profits from Nava Nakorn Electricity Generating Company Limited (NNEG). Operating highlight in Q4/2017 and 2017 Q4/16 Q3/17 Q4/17 Change +/(-) 2016 2017 Change +/(-) (THB million) QoQ YoY

3,629mn, declined by 22.7% YoY. In this quarter, MACO outperformed the media industry significantly, delivering solid operating revenue of THB 262mn, an increase by 52.1% YoY. The Company reported net

operation of IRPC-CP both phases. Operating Results Overall operating results of the company and its subsidiaries Overall operating results of the company and its subsidiaries Q2/17 Q1/18 Q2/18 Change

and non- controlling interests of the subsidiaries of THB 189mn. CASH FLOW As of 30 September 2019, the Company had net cash from operating activities of THB 205mn primarily from cash from operating

equivalents (691.9) 1,254.6 Cash and cash equivalents - ending balance 1,919.7 3,172.2 1. Cash flows from operating activities The Company had cash inflows (outflows) from operating activities for 2018 was THB

the future. Further, this disposition of the ordinary shares does not in any way affect the operation or the performance of the Company and Planet. In this regard, Planet has the objective of operating

equivalents - ending balance 1,489.3 3,631.3 1. Cash flows from operating activities The Company had cash inflows (outflows) from operating activities for the second quarter of 2017 was THB 270.9 mm which

Company had cash inflows (outflows) from operating activities for 3 months ended the first quarter of 2019 was THB (23.1) mm which decreased of outflow by THB 310.2 mm, compared to same period of previous

Public Company Limited (“the Company”) would like to submit the management discussion and analysis of the operating results for the nine months of 2020 ended September 30, 2020 as follows: Overall Group