Company Limited Interim Management Discussion and Analysis for the 1st Quarter 2019 Page 5 of 11 Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) Unit: Million Baht 1Q 2019 1Q 2018

& device sales were Bt6,867mn rising 7. 8% YoY driven by higher volume of localized handset campaigns. QoQ, SIM & device sales decreased 11% from lower unit price driven by sales in mid- tier smartphones

2.19 per share as at end of year 2018 to Baht 2.41 per share as at March 31, 2019. (2.6) Cash Flows Description Unit: Million Baht Year 2019 Year 2018 Cash Flows from (used in) Operating Activities

share of profit from associated companies. Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) Unit: Million Baht 2Q 2019 2Q 2018 Change % Change 6M 2019 6M 2018 Change % Change EBIT

0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000 Total Assets Total Liabilities Total Shareholder Equity 2018 Q2 2019 Unit: THB mm 7. Increase in investment properties (net) of THB

Description Unit: Million Baht Year 2018 Year 2017 Cash Flows from (used in) Operating Activities 274.97 296.18 Cash Flows from (used in) Investing Activities (7.85) (5.28) Cash Flows from (used in) Financing

76,705.4 48,319.1 28,386.3 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000 Total Assets Total Liabilities Total Shareholder Equity 2017 Q2 2018 Unit: THB mm 9. Decrease in other current

Description Unit: Million Baht Year 2018 Year 2017 Cash Flows from (used in) Operating Activities 362.65 575.61 Cash Flows from (used in) Investing Activities (29.09) (16.74) Cash Flows from (used in) Financing

from lower revenue from sales and lower share of profit from associated companies. Unit: Million Baht 2Q 2018 2Q 2017 Change % Change 6M 2018 6M 2017 Change % Change EBIT 311.48 555.33 (243.85) (43.91

80,000 90,000 Total Assets Total Liabilities Total Shareholder Equity 2017 Q2 2018 Unit: THB mm 9. Decrease in other current asset of THB 341.4 mm, due to the decrease in account receivable from Revenue