to sales 8.5% 11.2% 9.6% 10.6% Finance costs 19 16 16% 52 43 22% Share of profit (loss) from investment in subsidiaries and joint ventures (1) (3) 60% (6) (15) 60% Tax (income) (13) (35) 63% (48) (57

Placement of 1,080mn shares to Plan B Media Public Company Limited (“PlanB”) at THB 1.4381 per share, totaling THB 1,553mn and 3) an agreement with PlanB on Advertising Media Management and Service Agreement

expenses to sales 9.4% 11.4% 10.1% 10.3% Finance costs 18 15 19% 34 27 25% Share of profit (loss) from investment in subsidiaries and joint ventures (1.0) (5) 82% (2) (12) 79% Tax (income) (21) (19) (10

+166% Share of profit (loss) from investments in JV (3) (4) +21% (14) (11) -26% Tax expenses (income) (34) 20 -277% (57) 61 -194% Profit (loss) attributable to equity holders of the parent (124) 78 -260

was driven by added subscribers of 209,300 or around (estimated) 20% share of industry which totaled year- end subscribers at 730,500. On other digital services, AIS continued to scale up several

% Finance costs 14 17 -17% 66 60 +10% Share of profit (loss) from investment in subsidiaries and joint ventures (8) (0) -5374% (12) (16) +28% Tax (income) (17) (48) +65% (66) (101) +35% Net profit (loss

-1- AIT (VP-SEC) 003E/2023 16 February 2023 Subject: Management's Discussion and Analysis of Operating Results for the year 2022 and Q4-2022 To: The President of the Stock Exchange of Thailand

of Governors of the Stock Exchange of Thailand Reference is made to the resolutions of the Board of Directors’ Meeting No. 6/2018 of Master Ad Public Company Limited (the “Company”), held on May 17

vulnerable, however, many central banks may adopt a cautious stance in their monetary policies, primarily taking into account the right timing to mitigate possible foreign exchange volatilities as well as

financial instruments measured at FVTPL (1,689) - - N/A N/A Gain on tradings and foreign exchange transactions - 2,172 1,759 N/A N/A Gains on investments 1,150 14,988 775 (92.3)% 48.4% Share of profit from