Management Discussion and Analysis of Business Operation for the 2nd quarter of 2017 Bangchak Corporation Plc. 1 | Bangchak Corporation Public Company Limited Management Discussion and Analysis of

% 5,881 58.9% 3.3% Dusit Thani PLC Management Discussion and Analysis 4Q18 and FY2018 P a g e | 8 Profitability ratio remained resilient in 2018, showing improved Gross profit margin but net profit margin

The first quarter of 2017/18 (ended 30 June 2017) 1 VGi GLOBAL MEDIA PLC MANAGEMENT DISCUSSION & ANALYSIS 1Q 2017/18 2 AUG 2017 MEDIA INDUSTRY AND BUSINESS IMPACT ANALYSIS Advertising spending

1 MD&A 2Q 2018 (ended 30 June 2018) MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 2Q 2018 6 AUG 2018 MEDIA INDUSTRY In recent years, advertising industry has witnessed the shift in the media

%, due to the efficiency project cost management together with reduced actual cost lower than budget costs. The Group’s net profit of 2018 was 55.69 Million Baht, or net profit margin of 4.01%, higher than

our investments, as well as improvements in surplus cash management where we have invested surplus cash in money market products giving a better yield. Cost of Services While our revenue has grown 7.7

returns from our investments, as well as improvements in surplus cash management where we have invested surplus cash in money market products giving a better yield. Cost of Services While our revenue has

period of last year. The increase was mainly driven by positive same store sales growth (SSSG). In addition, the gross profit margin grew consistently, due to more efficient management of the product mix

(Translation) NEP-AC 002/2563 14 May 2020 Subject: Management Discussion and Analysis for Q1 end of 31 March 2020 To : The President The Stock Exchange of Thailand Operating Result NEP Realty and

/2020 Q1/2019 %YoY Q4/2019 %QoQ Revenue from sales and services of packaging 144.20 144.14 0% 149.41 (3%) EBITDA 17.20 13.00 32% 14.87 16% EBITDA Margin 11.93% 9.02% 32% 9.95% 20% Packaging business Sales