-Café 2 Catering / Pop-up 3 4 1 Franchise Fee Income 4 • Revenue recognition of initial franchise fee • *Actual franchise fee recognized in Q4/2019 was THB 0.9 million Management Discussion & Analysis YE

11 December 2019, the company was awarded an honorary award of Sustainability Disclosure Recognition, from Thaipat Institute, that enables stakeholders to grow alongside the company, and in respond to

, largely as a result of price increases, especially in our static media network. Moreover, this business segment has benefited from the recognition of synergies from Rabbit Group through a “Station

company’s tax saving in Q2/2016. Meanwhile, electricity profit was increased by recognition of operating performance of SEGSD. Page 13 Other Subsidiaries in Power Generation business: Unit : Million Baht

a near-zero margin contribution. This will partially be offset with a full- year recognition of payments to TOT for the use of spectrum, towers, and equipment. Overall, we expect the consolidated

the same period in 2016. This was due to the termination of the programmed co-production agreement before the due date at the beginning of 2016 but no revenue recognition from other business, which was

leasehold rights transaction was to reduce the cost of the Company incurred from the recognition of project cost since it entered into such lease agreement in 2014. Since then, Project MET has not started any

4 The objective of this termination of the leasehold rights transaction was to reduce the cost of the Company incurred from the recognition of project cost since it entered into such lease agreement

Bt613mn increasing 39% YoY mainly due to a revenue recognition of expired cash cards and other fines. Finance cost was Bt5,302mn increasing 25% YoY due to the deferred interest from spectrum licenses

enterprise solution following digitization trend. Revenue from interconnection charge (IC) and TOT partnership reported at Bt3,494mn, decreasing -18%YoY due to one-time revenue recognition in 3Q19 from the new