-maco-vgm-and-tranad-transaction.pdf 3 MD&A 3Q 2018 (ended 30 September 2018) MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 3Q 2018 6 NOV 2018 Airport Media in KLIA 1-2 , Malaysia - On 24 July 2018

, Airport concession fee for Aviation refueling services business, maintenance expenses and depreciation and amortization expenses. The Gross profit margin of the Group was of 58.2% compared to 57.2% of the

domestic business due to higher expenses from concession in Transit and Airport Media, while Trans.Ad Group’s cost is mainly from hardware and software. As a result, overall gross profit margin was decreased

connects with other rail lines such as Green Line, Purple Line, Orange Line, Red Line and Airport Rail Link which is convenience for the passengers. (Translation) Bangkok Expressway and Metro Public Company

Airport. Upon completion, Crossroads will open 2 hotels, Saii Lagoon Maldives, Curio collection by Hilton and Hard Rock Hotel Maldives, plus a wide range of facilities centered upon The Marina @Crossroads

1 (-Translation-) Ref. No. IRS.025/2019 October 31, 2019 Subject Acquisition of Shares in Hello Bangkok LED Co, Ltd., which is an Assets Acquisition Transaction of the Company, Issuance and Offering of the Newly Issued Ordinary Shares of the Company through a Private Placement which is a Connected Transaction, Capital Reduction, Capital Increase, Entering into the Right to Sell Advertising Media Agreement which is a Connected Transaction, Appointment of the Independent Financial Advisor and Call...

1 (-Translation-) Ref. No. IRS.025/2019 October 31, 2019 Subject Acquisition of Shares in Hello Bangkok LED Co, Ltd., which is an Assets Acquisition Transaction of the Company, Issuance and Offering of the Newly Issued Ordinary Shares of the Company through a Private Placement which is a Connected Transaction, Capital Reduction, Capital Increase, Entering into the Right to Sell Advertising Media Agreement which is a Connected Transaction, Appointment of the Independent Financial Advisor and Call...

and the shopping malls owned by CPNREIT, CentralPlaza Rama 2 and CentralPlaza Chiangmai Airport. The minor renovation includes adding new tenants, changing tenant-mix, re-zoning, enhancing interior and

CDP is a global environmental impact non-profit working to secure a thriving economy that works for people and planet. 11 ABOUT CDP CDP CAPITAL MARKETS | @CDP CDP runs the global disclosure system that

Suvarnabhumi Airport offering more than 130 shops serving both local and tourist customers. After formal opening, an average traffic reached more than 17,000 visitors per day. The first phase accounted for