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are designed to meet the demand from customers in three main areas: the "Small concept" - a cozy compact style, located in shopping centers; the “Select concept” - to serve all customer needs for

% YoY. Nevertheless, Outdoor media - our focus segment- recorded THB 1,525mn in advertising expenditure, an increase of 3.8% QoQ and 11.0% YoY, benefiting from a shift in people’s behavior to spend more

1 MD&A 2Q 2018 (ended 30 June 2018) MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 2Q 2018 6 AUG 2018 MEDIA INDUSTRY In recent years, advertising industry has witnessed the shift in the media

Sustainability Issues on Valuation and Performance” for investment analysts and “Navigating the Future of Investing in the Time of Sustainability: A Paradigm Shift in the Roles of Investment Consultants?” for

deems appropriate for the Company to dispose of the assets as part of the Company's investment properties, namely: (1) Land comprising 23 title deeds located on Soi Ladprao 126, Ladprao Road

% YoY to THB 14,125mn. Meanwhile, Outdoor media– segment which MACO focuses on – bucked the trend, increased by 12.8% YoY to THB 6,391mn. In recent years, advertising industry has witnessed the shift in