) (29.70) (34.16) Administrative Expense (55.25) (66.00) (60.45) Total Expenses (73.59) (95.70) (94.61) Earnings before Finance Costs 21.22 78.98 102.16 Finance Costs (19.90) (27.68) (28.30) Net Profit 1.32

1.78 4.66 Profit before Expenses 94.81 174.68 196.77 Selling Expense (18.34) (29.70) (34.16) Administrative Expense (55.25) (66.00) (60.45) Total Expenses (73.59) (95.70) (94.61) Earnings before Finance

: million baht April-June January-June 2019 2018 Variance 2019 2018 Variance MB % MB % Net profit (loss) for the period (698.1) (82.0) (616.1) (751.3) (187.2) 637.3 (824.5) (129.4) Plus: Finance Cost 429.6

baht July-September January-September 2018 2017 Variance 2018 2017 Variance Amount % Amount % Net profit (loss) for the period 39.6 (142.2) 181.8 127.9 676.9 (97.8) 774.7 792.2 Plus: Finance Cost 475.5

: 2,679.0 million baht), an increase 149.3 million baht or 5.6 percent. Profit before finance costs, tax expense, depreciation and amortization was 2,377.1 million baht (year 2018: 2,232.5 million baht) or

%. Finance cost was Bt1,293mn, inclusive of Bt523mn deferred interest from spectrum licenses. The finance cost increased 72% YoY due to an increase in borrowings to support spectrum acquisition and network

% 275.3 263.4 4.5% EBITDA 489.0 496.1 585.4 (1.4%) (16.5%) 1,074.5 1,137.5 (5.5%) EBITDA Margin 55.6% 56.3% 61.6% 58.7% 60.7% Finance cost (38.6) (42.1) (39.1) (8.3%) (1.3%) (77.7) (62.1) 25.1% Income tax

%, compared to 41.2% last year and to the full year guidance of 42-44%. Net profit declined 7.5% YoY to Bt22,377mn due to increased D&A and finance cost following 4G investment and spectrum license acquisition

% Finance cost (37.7) (29.8) (38.6) 26.5% (2.3%) (115.3) (91.9) 25.5% Income tax expenses (73.2) (79.5) (63.3) (7.9%) 15.6% (219.7) (264.0) (16.8%) Net Profit to Equity holders of the Company 271.8 294.6

. . . .% . . .% . . . .% Administrative expenses . . . .% . . .% . . . .% Net profit before finance costs and corporate income tax . . (.) (.%) (.) . ,.% . . . .% Finance costs . . (.) .% (.) . .% . . (.) (.%) Corporate income tax