Explanation and Analysis Report of the Financial Positions and Result of Business Operations To : President of The Stock Exchange of Thailand The Explanation and Analysis Report of the Financial Positions and

at 3.50%, which will be used for capital expenditure and working capital. PERFORMANCE BY BUSINESS Rental Properties Business Q2 2016 Q2 2017 Increase/(Decrease) THB mm THB mm THB mm % Revenue 416.7

growth of the business since 2018 and the fact that the Thai Baht value appreciated against US Dollar, the Company had loss on exchange rate, resulting in a decrease in net profit ratio (ROS) from 20.41

1st quarter of 2021, as follows: Business Overview The Thai economy in the first quarter of 2021 was pressured by the domestic COVID-19 situation that impacted the country’s economic recovery momentum

expense (10.35 ) (80.22 ) 69.87 0.87 Finance costs 17.95 6.16 11.79 1.91 Profit (loss) before income tax expense (28.30 ) (86.38 ) 58.08 (0.67 ) Tax income (expense) - - 0.00 n/a Profit (loss) for the

and net loss of THB 317.93 million primarily due to: • THB 233.38 million of loss from Power Plant Business (which has been disposed since Q3-2020) • THB 45.43 million of impairment of assets in parent

revenue 3,064,495 2,870,863 193,633 6.74 Gross profit 1,058,006 1,006,730 51,277 5.09 Gross profit margin (%) 34.52 35.07 (0.54) (1.55) Total revenue 3,264,365 3,081,285 183,080 5.94 Total Cost & Expense

in geothermal power plant in Indonesia. Furthermore, the Power Plant business recorded a slight increase in Selling, General and Administrative expense from the same period of the previous year, mainly

Bt20,000-25,000mn, to continue enhancing the quality of 4G network, which continues to grow and is serving 66% of total customer base. Fixed broadband business grew healthily AIS Fibre reported a sequential

56.90 34.89 Finance costs - Existing businesses 19.63 31.49 (11.86) Finance costs - Solar energy 26.33 1.80 24.52 Profit before income tax 45.84 23.61 22.23 Income tax expense 2.41 4.26 (1.84) Total