Thailand’s overall economic has been forecasted to grow around 3.6% this year compared to a growth of 3.2% in last year, after seeing a growth of spending within the country, as well as, the injection from

% in 2017 which exceeds the previous forecast at 3.5%, after seeing a continuous growth from export and tourism sectors supporting with the injection from government spending in which collectively lead

consisted of revenue from selling live broilers to GFN, our joint venture, and selling day-old-chicks to both international and domestic market, represented 36.60% of total sales, amounting THB 1,448.90

343.7% YoY and Operating Revenue 3.3% YoY. The increase of Operating Revenue was attributable to growth of industrial water’s sales volume mainly driven from newly COD of 2 SPPs, existing and new

12.1% increase from Baht 422.7 million in 2Q2018 mainly due to increase of Other Utilties Revenue 2,236.6% YoY and Operating Revenue 0.2% YoY. The increase of Operating Revenue was attributable to growth

continued to be key growth drivers of our performance in 2Q 2018. 2 MD&A 2Q 2018 (ended 30 June 2018) MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 2Q 2018 6 AUG 2018 IMPORTANT EVENTS IN 2Q 2018 - In May

to both international and domestic market, represented 32.67% of total sales, amounting THB 1,301.17 million, an increase of THB 50.24 million or 4.02% up from 2Q2017. Revenue from selling live

service concerning health and esthetics. 2. Overview of operating results in the Quarter 2’2018. Although the global economy is at risk, such as political tensions and economic of international, or the

broilers to GFN, our joint venture, and selling day- old- chicks to both international and domestic market, represented 30. 99% of total sales, amounting THB 1,399.58 million, an increase of THB 81.15

concerning health and esthetics. 2. Overview of operating results in the Quarter 3’2018. Although the global economy as risk from international of political tensions and economic, and the uncertainty of US