equity ratio of the Company was considerably low at 0.28 time. Overall Financial Performance and Profitability Business Segment of GFPT Group 2015 2016 2017 MB % MB % MB % Chicken Processing Segment

Business: Be a licensee of private higher education institutions Board of Director: 1. Mr. Chirasak Chiyachantana 2. Mrs. Sangsri Chiyachantana 3. Mr. Chirasak Chiyachantana 4. Ms. Kusuma Palaprom 5. Ms

MANAGEMENT DISCUSSION & ANALYSIS 2Q 2019 7 AUGUST 2019 MASTER AD PUBLIC COMPANY LIMITED NATIONWIDE COVERAGE 1 QUARTERLY BUSINESS REVIEW – 2Q 2019  Consolidated revenue increased by 161.5% YoY to THB

QUARTERLY BUSINESS HIGHLIGHTS – 3M 2020 Consolidated revenue decreased by 13.7% YoY to THB 612mn o Advertising revenue increased by 3.1% YoY to THB 270mn o System integration services revenue decreased by

assets million baht 45,958 48,201 46,154 Total liabilities million baht 12,952 14,260 13,680 equity’ Total shareholders million baht 33,006 33,941 32,474 Registered capital bahtmillion 1,259 1,259 1,259 up

for Bangkok real estate business in 2019 and necessity to increase caution in business operation, the management maintain positive view over luxury condominium1 market, appraising from sales volume of

ถนนสขุมุวิท แขวงพระโขนงใต้ เขตพระโขนง กรุงเทพฯ 10260 http://www.sevenup.co.th Tel. 0-2741-5700-5 / Fax 0-2741-6878 / Company Tax ID : 0107545000021 Overall business operation (9 months) For quarter 3

Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For Quarter 1/2020 11 - Refinery & Trading 16 - Marketing 19 - Power Plant 21 - Bio-based Products 23 - Natural

distribution of product and equipment, design, assembly and installation, and maintenance service of pure water treatment system; including operate clinical business which dialysis services for kidney patients

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