. Deep discount of up to 50% was used across the industry to attract customers to switch, resulting in declining industry’s ARPU. Convergence packages, combining fixed broadband, mobile data SIM, and

. Mobile revenue increasing 4.6% YoY with the ARPU recovery fueled by personalized packages and higher data consumption, alongside rising tourist arrivals. Fixed broadband grew 154% YoY through TTTBB

current assets were Bt34,841mn rising 9.2% YoY from account receivables, following a larger base of postpaid customers, and handset inventories. Total non- current assets were Bt249,226mn increasing 2.2

reported core service revenue of Bt34,080mn, increasing 2.9% YoY and 0.5% QoQ from a quality growth of fixed broadband business and a rebound in non-mobile enterprise business. FBB business continued a

facilitated by government subsidizations. This was further supported by a continuous increase in foreign arrivals despite some structural headwinds and rising geopolitical conflicts. In summary, AIS reported

up. As a result, core service revenue in 3Q18, which excluded IC and equipment rental, was Bt33,134mn, increasing 2. 1% YoY but decreasing 0. 9% QoQ. EBITDA remained growth YoY but softened QoQ Cost

, supported by handset subsidies and attractive price plans.  Fixed broadband revenue was Bt1,288mn increasing 27% YoY and 6.3% QoQ driven by growing subscriber base with a net addition of 64,500 subscribers

of 85% YoY and 6% QoQ while subscribers rose to 571,800 or a net addition of 50,600. Put more focus on convergence and EBITDA generation Given the growing fixed broadband and increasing popularity of

underpinned by growing postpaid segment.  Voice revenue was Bt10,351mn, decreasing 17% YoY and 6.6% QoQ from voice-data cannibalization.  Non-voice revenue was Bt19,570mn, increasing 21% YoY and 4.6% QoQ

1 Forth Smart Service Public Company Limited (FSMART) 3Q18 Management Discussion and Analysis Operational Summary 9M18 Operational Summary  Total revenue from core business was Bt2,523mn, increasing