digit driven by all business segments. EBITDA margin is expected to be stable while budgeted for CAPEX of Bt20-25bn (see guidance on page 6). Significant Event for FY19 Since 1 January 2019, AIS has

the investments in Capex in 2018 which includes the 320mTHB purchase of Saraburi Quicklime. Removing this one off impact there is no major change. We have made significant strides in Capex discipline

in Q1 met expectations however, the aforementioned competition for volumes will put pressure on revenue in Q2. On the other hand, the new product introductions will bring significant benefit to

share of losses in 1Q17, mainly driven by a significant increase in cancellation compensation income due to breach of agreements, while counseling fees dropped. The company reported 1Q18 EBITDA from hotel

capacity (new Kiln 7 started in Hua Pha Way in Q1) and the full effect of Saraburi Quicklime. Similar to Q2 2018, the revenue was primarily from core business without significant contribution from

group company 4.1 The total amount of debt issued and which have not been sold as approved by the shareholders' meeting and authorized the board of listed companies to consider the sale as appropriate The

since real estate business is the significant driving force of the economy. The government has thus issued measures to boost the real estate market i.e. tax deduction of up to 200,000 THB for first time

and dividend payment. As at 31 December 2019, interest-bearing debt amounted to Bt94,184mn with debt to equity ratio of 1.36 and net debt to EBITDA of 0.92. Therefore, the company has strong capital

and total liabilities stood at THB 6,714.9mn. • Debt to Equity ratio2 equals 1.00 times as of 31 March 2020, decreased from 1.04 times as at end of 2019. Operating result 1Q/2020 Revenue Source of

( COVID-19) situation has improved domestically, following a significant reduction in the number of local infections. However, the continued high rate of overseas infections, combined with Government fears