: After You Public Company Limited operates dessert and bakery business. The Company divides its business into 4 categories as follows: Analysis of Statement of Income 4 91% 3% 6% 0.3% Operating Revenue in

% (26.89) (16.48%) Other Income 0.93 0.06% 1.55 0.08% (0.62) (39.95%) SG&A (26.79) (1.84%) (28.99) (1.57%) (2.20) (7.58%) Financial cost & Tax Expense 0.25 0.02% (3.46) (0.19%) (3.70) (107.12%) Net Profit

) (11.07%) Other Income 1.40 0.10% 1.48 0.14% (0.07) (4.81%) 0.93 0.06% 0.47 50.64% SG&A (50.37) (3.59%) (34.84) (3.34%) 15.53 44.58% (26.79) (1.84%) (23.58) (88.00%) Tax Expense 4.36 0.31% (2.12) (0.20

Expense 0.03 0.002% (0.75) (0.07%) (0.77) (103.62%) 4.36 0.31% 4.33 (99.38%) Net Profit (Loss) 82.41 5.44% 54.98 5.34% 27.42 49.88% 76.56 5.45% 5.85 7.64% Earnings per share (Baht per share) 0.016 0.011

Business Operations in relation to Shareholders’ Meetings. 2 A person designated by the Board of Directors to proceed the registration of the amendments to the Articles of Association with the Department of

explore new markets. Moreover, the Company can therefore expect to reduce capital injection to CCPH for future business expansion purpose.  Lower the operating expense by more flexible sharing KPPH’s

1085..96 Fax. 66 2323 9283 Management Discussion and Analysis (MD&A) Business operating results and financial position for the year 2017, in which the equity method is applied, of the Company could be

of 270 million Baht or 9% as compared to 2017. This comprises of (1) gross profit from property business of 1,461 million Baht (24% of total revenue from property business), a decrease 12 million Baht

of 270 million Baht or 9% as compared to 2017. This comprises of (1) gross profit from property business of 1,461 million Baht (24% of total revenue from property business), a decrease of 12 million

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