from software and Human Resources System 120.75 31.73 99.32 28.44 Revenues from HR Solutions 298.29 78.39 262.98 75.31 2. Financial Solutions 2.1 Enterprise Resource Planning 63.28 16.63 62.35 17.85 2.2

of 63.94% YOY. Revenue Structure Revenue from Software Subscription from Salesforce For the first 9 months of 2020, revenue from subscription fee of Salesforce increased by 40.29 Mb. or 47.9% compared

% to our growth year-on-year upon consolidating the result of our newly acquired subsidiary, Tiger Soft (1998) Company Limited (“TigerSoft”). Revenue from our Financial Solutions decreased by 14.32mb or

expected to enhance MACO’s media management’s capabilities under our digitalisation strategy both in Thailand and overseas. Moreover, MACO has acquired the remaining shares of Multi Sign, taking our stake to

30, 2020, the Company recognized lease liabilities and intangible assets – computer software Baht 28 million, due to the recognition of lease liability upon initial application of TFRS16 Leases at

year-on-year upon consolidating the result of our newly acquired subsidiary, Tiger Soft (1998) Company Limited (“TigerSoft”). Revenue from our Financial Solutions marginally increased by 0.60 mb or 0.8

with digital screens. Currently, MACO has a total of 35 digital screens covering 32 provinces under management. June • Acquired an additional 30% in Multi Sign Company Limited (“Multi Sign”) with a total

Company Limited (“the Company”) would like to submit the management discussion and analysis of the operating results for the first half of 2020 ended June 30, 2020 as follows: Revenue from Software

of July 2018, Master Ad Public Company Limited (“MACO”) successfully acquired 81.65% in Trans.Ad Solutions Company Limited (“Trans.Ad”) – multimedia display systems provider and 89% in Roctec

consolidation of the acquired hotel business in Europe. 2) Revenue from the office for rent business of Baht 38.6 million from office building in London, U.K. 3) Other revenue of Baht 82.5 million, which grew by