Management Discussion and Analysis For the first quarter ended March 31, 2020 Bangkok Commercial Asset Management Public Company Limited 99 Surasak Rd., Silom, Bangrak, Bangkok 10500 Thailand Tel 0

MD&A Advanced Info Service Plc. Financial position (Post TFRS 9&16) As of ending Jun- 20, total asset stood at Bt368,074mn, increasing + 27% from ending Dec- 19 mainly from new spectrum acquisition in

gain on sales fixed asset Baht 1.46 million. 4) Selling expenses decreasing from last year amounting of Baht 9.74 million or 12.02% due to local transportation charge decreased Baht 9.53 million. 5) The

tightening of financial institutions in loans approvals due to the deteriorations in asset quality. Private investment contracted in the investment in construction from the decline in permitted construction

financial institutions in loans approvals due to the deteriorations in asset quality. Private investment contracted in the investment in construction from the decline in permitted construction area and also

the end of 2018. For asset quality, the Non-Performing Loans (NPLs) to total loans ratio for 2Q19 increased to 4.2% from 4.1% at the end of 2018. On Special Asset Management business, the Bank sold non

hire purchase portfolio declined by 2.7% from the end of 2018. For asset quality, the Non-Performing Loans (NPLs) to total loans ratio for 2Q19 increased to 4.2% from 4.1% at the end of 2018. On Special

, repayment to loans, and dividend paid. 2. Liabilities As of 31 December 2019, the Company’s liabilities totaled Baht 247.15 million, decreased by Baht 45.42 million from 2018 as a result of paying to

with Rabbit-LINE Pay (RLP) through an investment of Bt788mn to buy 33.33% stake of the JV. In realizing the JV’s performance, AIS shares 33.33% of the JV’s net profit recognized as an asset under

Bt12,822mn, while 5G network continued rolling out, it decreased -1.8% YoY due fully depreciated asset in some part of 3G network equipment and remain flat QoQ. Revenue from interconnection charge (IC) and NT