disposed in late 2017. However, the revenue of Hotel Management was improved. Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) was THB 144 million, representing 131.4% growth yoy

Osotspa Public Company Limited Management’s Discussion and Analysis (MD&A) Consolidated Financial Results: Q4’19 and FY2019 26 February 2020 FY2019 Management Discussion & Analysis Page 1/6 Financial

business growth, while flat 0.3% QoQ from higher SG&A in line with growing top line. EBITDA margin was at 53%, improving YoY from continual focus in profitable revenue, effective cost management, and

consolidated revenues have increased to Baht 360.4 and Baht 797.3 million, a 0.8% and 11.8% growth over same period of last year with details as the followings: - The revenues for 2nd-quarter and 6-month

between the public and private sector to help develop economy across the country. At present, a number of local businesses with strong growth potential located in every province but yet to have access to

revenue of Bt33,293mn, improving 2.9% YoY and 1.6% QoQ, driven by strong growth in fixed broadband and non- mobile enterprise business together with a recovery of mobile business. Mobile business improved

THB 36 mil. or 10.3% negative growth when compared to the same period of last year, primarily due to dumping price by competitors and focusing on electronic payment and number of bank branches reduction

create business growth and sustainable value.While the corporate governance practices adopted by Thai listed companies have undergone continuous developments with the focus on building investor confidence

26 February 2020 At: ACC/HO 003/63 Re: Management Discussion and Analysis for the year ended 31 December 2019 To: President The Stock Exchange of Thailand Thailand’s economy grew more slowly than

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