. Material information of the transaction is as set out below. 1. Date/ Month/ Year of the transaction The Company enters into the share purchase agreement and the share subscription agreement with TSEO on 26

have diminished market demand. Natural FA demand improved from 1Q2017, mainly due to downward pricing trend of Natural FA to below Synthetic FA because of downward pricing trend of CPKO. Whereas, the

power generation business of 14,315 million Baht and an increase in other business of 46 million Baht. See more details in 3.1 and 3.2 as below; 3.1 The Analysis of the Operating Results in Power

”) media business overseas. (please find more details of VGM business as below photo.) 81.65% Trans.Ad Group 89% 100% % MACO Eye on Ads Trans.Ad Roctec 11 FEB 2019 3 MASTER AD PLC MANAGEMENT DISCUSSION

total capacity 64% 49% 82% 83% 75% 68% Average (2009-2018) 69.95 13.23 55.79 137.55 30.01 214.15 Above/(below) average (2009-2018) 5.07 (2.68) 9.30 (0.90) 4.23 (12.14) 4. SIGNIFICANT EVENTS 12 July 2018

97.30 20.01 146.49 Percentage of total capacity 57% 36% 45% 59% 50% 50% Average (2006-2018) 77.47 16.70 70.80 154.98 39.52 256.43 Above/(below) average (2006-2018) (11.31) (8.90) (35.32) (57.68) (19.51

37.62 8.13 103.22 Percentage of total capacity 38% 24% 38% 23% 20% 35% Average (2010-2019) 72.76 12.96 56.19 137.79 29.97 213.98 Above/(below) average (2010-2019) (28.68) (7.77) (26.05) (100.17) (21.84

below. (Unit: Million Baht) Utilities Business 2019 2018 % Change Revenue from Utilities Business - Industrial Water Sales 1,309.5 1,252.6 4.5% - Raw Water Sales 264.0 268.9 -1.8% - Wastewater Treatment

, the Company held a total liability of 1 . million Baht, decreased by . million Baht, accounting for 1.94%, from . million Baht at the end of the year 2015, as detailed below. - Trade and other payables

details of cash flow were as follows: 2.1.1 Cash and cash equivalent of Bt2,530.6 million which cash flow summarized for the first six months of 2017 were below ;- - The Group’s net cash from operation was