1 (Translation) MD. 134/2019 August 7, 2019 Re: Management Discussion and Analysis For the Operating Results ended June 30, 2019 To: President The Stock Exchange of Thailand Management Discussion and

, or 20% of the total subscriber base. Delivered healthy earnings through profitability focus and cashflow generation. AIS reported an expanded FY23 EBITDA of Bt93,371mn, reflecting a 4.1% YoY increase

. Huaykwang, Bangkok  10310  F + 66 (2) 6452828,  + 66 (2) 6452829  VAT ID  0107538000151     Thailand W www.wiik‐hoeglund.com    -Translation- LWH/ACC/18/08/LT096 August 10, 2018 Subject: Management discussion

(Translation) Ref.No.LEE 01/2020 27 February, 2020 Subject : Management Discussion and Analysis for the year ended December 31, 2019 To : President of The Stock Exchange of Thailand We submit

1 - TRANSLATION - VS/PC (Q-Con) 004/2018 February 1st , 2018. Attention Managing Director The Stock Exchange of Thailand Subject : Management Discussion and Analysis for year 2017 Quality

* Note Please find further information in the consolidated financial statements. 1 8th August, 2019 Subject: Management Discussion & Analysis (MD&A) for the 2nd quarter of 2019 Attention: The

* Note Please find further information in the consolidated financial statements. 1 13th November, 2018 Subject: Management Discussion & Analysis (MD&A) for the 3rd quarter of 2018 Attention: The

* Note Please find further information in the consolidated financial statements. 1 12th November, 2019 Subject: Management Discussion & Analysis (MD&A) for the 3rd quarter of 2019 Attention: The

, resources management, and oversights of stakeholders, e.g., securities issuers, securities companies, asset management companies, the Stock Exchange of Thailand (SET), auditors and credit rating agencies, etc

investment risk. It is also an opportunity for Thai asset management company to experience the establishment and management of foreign mutual fund and develop Thai mutual fund industry, including expand