beds which will be located in the downtown, crowded of Thai and foreigner tourists, may causing the inadequate capacity of medical services during high season. 9. The opinion of the Board of Directors

3344 Fax. 66 2 654 3323 No. PACE IR2018/013 Date: 15 May 2018 Subject: Explanation of the Operating Results for the three-month period ended 31 March 2018 changing over 20% To: The President The Stock

6 December 2007 No. PACE IR2018/013 Date: 15 May 2018 Subject: Explanation of the Operating Results for the three-month period ended 31 March 2018 changing over 20% To: The President The Stock

. The Company’s group may conduct the reappraisal before the prescribed period in the case that there is any change affecting the fair value of land on a material basis. In this regard, the Company shall

historical facts. These statements can be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “anticipate”, “intend”, “estimate”, “continue” “plan” or other similar words. The

continued to be key growth drivers of our performance in 2Q 2018. 2 MD&A 2Q 2018 (ended 30 June 2018) MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 2Q 2018 6 AUG 2018 IMPORTANT EVENTS IN 2Q 2018 - In May

than that of 2Q2017. Under these circumstances, the government has maintained B7 mandate in this quarter, comparing to the mandate of B5 and pushed to B7 on May 8th, 2017. For Natural Fatty Alcohols (FA

available-for-sale investment in Laguna Resort & Hotel PCL (“LRH”) with the gain of THB 37.5 million. On 11 May 2018, the Company established Dusit Gourmet Company Limited to sell food products in both

188,249 and 188,225 tons respectively, such volume in Q2/2018 significantly increased double from the same period of last year. Besides, the Company had an accident of an Electric Arc Furnace (EAF) in May

respect to our corporate plans, strategies and beliefs and other statements that are not historical facts. These statements can be identified by the use of forward- looking terminology such as “may”, “will