1 1Q18 MD&A Advanced Info Service Plc. Executive Summary Expand into potential growth areas of enterprise and mobile money AIS has executed two strategic deals totaling Bt4.2bn of cash transactions

construction under concession agreements for tap water according to accounting standard TFRIC12 EBITDA (MB) Q3/2016 Q3/2017 YoY % 9M/2016 9M/2017 YoY % Operating profit 428.70 412.15 (16.55) (3.86%) 1,422.44

Discussion and Analysis (MD&A) for year 2017 3 Executive Summary In overall 2017 performance, the Company had significant improvements in various areas such as production increase to 875,874 tons, sale volume

on Q1/2018 Management’s Discussion and Analysis (MD&A) for year 2017 (Revised) 3 Executive Summary In overall 2017 performance, the Company had significant improvements in various areas such as

Reporting Standard No. 15 (Revised) : Revenue from Contracts with Customers, effective 1 January 2019 has impacted on the Company and its subsidiaries’ financial statement as follows : o Brand : Adjusting

expenses, (ii) depreciation which was significantly increased by THB 214mn (or 129%) YoY, driven mainly by the adoption of the new financial reporting standard related to Leases (TFRS16) (iii) Loss on

totaling THB 1,155mn (or 65.2%) YoY, partly offset by (ii) depreciation which was significantly increased by THB 188mn (or 98.4%) YoY, driven mainly by the adoption of the new financial reporting standard

1 Note: 1) Revenue and Cost that were recognized when there is construction under concession agreements for tap water according to accounting standard TFRIC12 1. ANALYSIS OF FINANCIAL PERFORMANCE In

of customers, the target customers, the project value, the sale and construction progress, etc. Describe the research and development policy in areas and specify the details of the process of

and construction progress, etc. Describe the research and development policy in areas and specify the details of the process of innovative development, products and/or services o r the business model