fee). For financing activities, AIS paid a dividend of Bt10,943mn, a net repayment of Bt4,391mn, and lease liability of Bt5,860mn. As a result, net cash decreased by Bt1,445mn resulting in Bt16,970mn

license. As a result, free cash flow (OCF less CAPEX and spectrum license) for 1Q22 was Bt9,440mn. Cash flow used in financing activities was Bt5,800, mainly on lease liability paid of Bt3,122mn and

0.8 Net debt to EBITDA (times)* 0.8 0.8 0.7 Net debt & lease liability & spectrum license payable to EBITDA 2.1 2.0 1.9 Current Ratio (times) 0.4 0.4 0.4 Interest Coverage (times) 16.0 15.9 15.8 Debt

Ratio 2Q22 1Q23 2Q23 Interest-bearing debt to equity (times)* 1.1 1.0 1.0 Net debt to equity (times)* 0.9 0.8 0.9 Net debt to EBITDA (times)* 0.8 0.7 0.8 Net debt & lease liability & spectrum license

1,1161.88 Baht/ton in Q1’2019) as the consolidation of steam revenue from SPP1 in March 2019. Electricity Sales to PEA and MEA • Electricity sales to PEA increased 866.7% y-on-y (Baht 18 million in Q1’2018 to

, operating expenses increased from the consolidation of Permata’s operating expenses into the Bank’s consolidated financial statements. When excluding Permata, the Bank’s operating expenses increased from the

million, primarily due to 1) the revenue from the 10.8 MW Solar WVO - COOP projects which started commercial operation in December 2018 and 2) the consolidation of BGYSP after raising stake from 49.0% to

to PEA / MEA increased 157.7% y-on-y in 2019 to Baht 773 million and 29.9% y-on-y in Q4’2019 to Baht 165 million, primarily due to 1) the consolidation of BGYSP after raising stake from 49.0% to 100.0

% y-on-y in 6M’2019 to Baht 355 million, primarily due to 1) the consolidation of BGYSP after raising stake from 49.0% to 100.0% in Q3’2018 and 2) the revenue from the 10.8 MW Solar WVO - COOP projects

accuracy and completeness of information contained in the registration statement. The liability for certification of the accuracy and completeness of information contained in the registration statement is