1 MD&A 2Q 2017 (Ended 30 June 2017) MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 2Q 2017 1 AUG 2017 MEDIA INDUSTRY AND BUSINESS IMPACT ANALYSIS Advertising spending reported a decline of 1.4% QoQ

. million and prepayment to contractors for new office and warehouse construction projects amounting to Baht . million. Cash and cash equivalents decreased as mentioned above, which impact to increase of

number of tourist has increased, the traffic volume of the urban expressway slightly increased because the expressway users used the alternative routes due to the impact of the incompleted other projects

. Currently, the project had already granted the Environmental Impact Assessment Report (EIA) and will announce Term of Reference (TOR) following to procurement rules in order to proceed the auction by the end

expertise. The disposal of investments in NU, BBB, WPS, and NML will not have any impact on the future business operation of the group since NU, WPS, and NML do not engage in the media and content production

aircraft engine technology, which can save more fuel. In particular, the impact of the increase in excise tax rates on domestic aviation fuel. Domestic airlines have reduced their fuel reserves on each

been audited by the Company’s auditor can be summarized as follows: Overview of 2017 Business and Factor that impact on financial performance In the year of 2017, Jaymart as a holding company has

Profit Performance from revenues, costs and expenses which has significant impact in Q3-2020 can be shown in the following table: Balance by Quarter Change Q3–20 Q2–20 Q3–19 Q3–20 VS Q2–20 Q3–20 VS Q3–19

gross profit margin. Operating Results and Capabilities to Make Profit Performance from revenues, costs and expenses which has significant impact in Q3-2019 can be shown in the following table: -2

regulatory sandbox is deficient and cannot be improved; 5. there is a reason to believe that the innovation used in the service provision may cause a material impact or damage to investors or the overall