Global and Thai Economy in the Third Quarter of 2019 1 1.2 Banking Industry and Competition 2 1.3 Significant Regulations and Rules related to Business Operations 2 2. Risk Management and Risk Factors 5

Microsoft Word - FY19 MDA edited after comment.docx 1 FY19 MD&A Advanced Info Service Plc. Executive Summary Mobile business grew amid competition In FY19, despite slow economic growth and continued

from the re-opened economy amid continued intense competition Mobile revenue reported Bt29,217mn, improving 0.4% YoY and 1.3% QoQ, mainly benefiting from the border reopening and 5G adoption. However

purchasing power. However, from Sep-21 onward, restrictions were gradually lifted, resulting in some improvement in consumer spending. Meanwhile, competition in mobile industry remained elevated as operators

decreased of 234.5 MB and 94.3 MB, respectively, due to the governmental projects in the first half of 2017 were relatively small and delayed. The Company also faced a higher market competition. Besides, in

competition in the market became less intense because of higher demand and sales volume of agrochemicals. Cost of sales increased at a lower rate of increase than that of the sales volume resulting in the

เตอร ์ 240 208 15% 72 55 53 35% Feedstock 613 501 22% 136 178 116 18% การจัดประเภทกลุ่มธุรกิจใหม่ Integrated PET 791 414 91% 171 256 114 51% Olefins 232 145 60% 50 52 53 (4)% Fibers 211 181 17% 64 49

Company Limited No. 6/2060 held on, October 10, 2017 had considered and approved to buy an integrated piece of land consist of totally 7 title deeds located in Tumbol Bangpongpang, Amphur Yannawa, Bangkok

cooperation aims to mitigate the impacts and damage caused by such fraudulent activities.“The SEC has taken action on multiple fronts and has continuously integrated cooperation with relevant agencies. We also

well-integrated to enhance investor confidence”.Chairman of the Association of Securities Companies (ASCO), Mr. Pichet Sithi-Amnuai, said that “securities companies have teamed up with the Stock