No. CAZ 1/2019 21st January 2019 Subject: Management Discussion and Analysis Quarter 3rd ending 30 September 2018 Attention: The President The Stock Exchange of Thailand CAZ (Thailand) Public Company

Discussion and Analysis 2019 Management Outlook The Company still concentrates on the strategy of managing the quality of Boonterm kiosk location with the ARPU management more than 5% growth and the total

be expected to increase a lot in the future Since it is an area in the Eastern Economic Corridor area. There is a high rate of growth in the industrial sector. The management sees the opportunity to

at THB 12,894 mn, an increase of 2.1% YoY. The rate of increase is lower than the growth in revenue from rent and services, courtesy of effective utility cost management. The rise in cost comes from

postpaid is expected to continue, supported by an ongoing adoption of customer value management aiming to improve quality ARPU. AIS Fibre has continued its growth despite heightened pricing environment

total revenue or THB 80mn, decreasing by 17.2% YoY or THB 17mn, mainly due to a decrease in project management fees. Revenue growth was also accompanied by an increase in cost of sales which came to THB

/18 12 FEB 2018 Meanwhile, our Office Building and Other media segment revenue grew solidly, increasing by 47.3% to THB 81mn. Revenue growth in 3Q 2017/18 was mainly driven by Wi-fi project management

CITY PCL 2019 - MD&A (for the year ended 31 December 2019) 5 U CITY PCL SEGMENTAL PERFORMANCE 2019 REVENUE CONTRIBUTION BY SEGMENT 2019 REVENUE GROWTH CONTRIBUTION * Other revenue and management income

to improved sales growth. Page 5 of 10 Management Discussion & Analysis Q3/2024 Revenue from the wholesale business declined in the dealer segment due to competition from major players in each region

million or 52.4% yoy from Baht 84 million during 3Q16 due to the growth in Asset under Management. Brokerage income totaled Baht 422 million, increasing slightly by 1.0% yoy. Financial advisory and