1 Translation CEN 004-2019 February 27, 2019 Subject Management Discussion, analysis and business operation of year 2018 To The Manager and President The Stock Exchange of Thailand Yearly business

CORPORATION PUBLIC COMPANY LIMITED SELIC: SELIC CORP PUBLIC COMPANY LIMITED SINO: Sino Logistics Corporation Public Company Limited SKN: S.KIJCHAI ENTERPRISE PUBLIC COMPANY LIMITED SSP: SERMSANG POWER

revenue for the same period of last year. The positive impact is a result of more projects awarded in 2017 leading to more negotiation power and efficient cost management. 1. Business Performance Analysis

Operational Control _____________ Clause 4 A securities company shall establish efficient systems for internal control, risk management and prevention of conflicts of interest, and shall have a written code of

Clause 4 A securities company shall establish efficient systems for internal control, risk management and prevention of conflicts of interest, and shall have a written code of conduct approved by the board

person who is authorized by a management company to have power to make decisions on investments for a fund; “Association” means any association relating to securities business, which has been approved by

any natural person who is authorized by a management company to have power to make decisions on investments for a fund; “Association” means any association relating to securities business, which has

by a management company to have power to make decisions on investments for a fund; “Association” means any association relating to securities business, which has been approved by and registered with

margin of 51% from revenue growth, lower pressure in utility cost, as well as efficient cost management in marketing expenses. AIS reported a net profit of Bt8,146mn, increasing 35% YoY and increasing 14

reported 1Q24 EBITDA of Bt27,769mn, delivering a growth of 23% YoY, 16% QoQ from profitable revenue expansion with efficient cost management. The TTTBB acquisition has also been accretive to AIS’ EBITDA