not yet fully recovered due to the concern over 2nd wave of COVID-19 pandemic, international travel restriction in many countries and slowdown of economic recovery as well as business cutting down

3Q21 MD&A Advanced Info Service Plc. Executive Summary Slight revenue improvement despite COVID restriction measures and continued competition During 3Q21, the economy remained subdue from COVID

shall undertake the securities borrowing and lending business within that restriction. In the case where the business operator under the first paragraph wishes to relax or remove such restriction, the

May 1999. (Translation) -5- after license has been given,, the business operator shall undertake the securities borrowing and lending business within that restriction. 20 In the case where the business

Lending (No. 2) dated 26 May 1999. (Translation) -5- after license has been given,, the business operator shall undertake the securities borrowing and lending business within that restriction. 20In the case

% Normalized net profit (Bt mn) 1Q16 4Q16 1Q17 %YoY %QoQ Net profit for the period 8,073 6,468 7,693 -4.7% 19% Recognition of USO fee (after tax) 1,767 - - - - Recognition of deferred tax assets (919

were THB 218.0 mm and THB 493.9 mm, which decreased by THB 20.1 mm and THB 0.1 mm from the same period of previous year, respectively, due to not having revenue recognition of the assets which’ve sold to

services such as parties, wedding receptions, restaurants or any events • Pop-up store sales in various locations Catering / Pop-up 3 1 Franchise Fee Income 4 • Revenue recognition of initial franchise fee

decrease in revenue from sales while overall expenses increased. • Net profit margin in 1H/2021 decreased by 1.4% from 1H/2020 mainly due to the decrease in revenue from sales and the recognition of net loss

comparing with Q1/2019, the net profit for the company increased by Baht 638 million or 68% as a result of the full quarter recognition of revenue, cost and profit from GLOW (Q1/2019 GLOW was acquired for