effective management. Excluding the non-recurring items, total revenue and net profit decreased by 0.5% and 8.7% respectively compared to the same period in the previous year (YoY) mainly caused by the impact

Malee Group Public Company Limited and Its Subsidiaries Management Discussion and Analysis For the First Quarter Ended 31 March 2018 1. Q1/2018 Highlights Figure 1: Quarterly results  In Q1/2018

Malee Group Public Company Limited and Its Subsidiaries Management Discussion and Analysis For the Q2/2019 and H1/2019 ended 30 June 2019 1. Q2/2019 Highlights Figure 1: Quarterly results  In Q2

general, AIS has policy to mitigate currency risk using forward contract to partially cover capex payable. Finance cost was Bt1,460mn, decreasing -5.5%YoY due to lower interest rate while increasing 5.4%QoQ

loss was incurred from THB depreciation against USD. In general, AIS has policy to mitigate currency risk using forward contract to partially cover capex payable Finance cost was Bt1,414mn, decreasing

lockdown measures. In addition, the Company maintains management overlay in the amount of 1,378 million baht for a hedge with probable forward looking macroeconomics factors and the new wave of COVID-19

margin of 51% from revenue growth, lower pressure in utility cost, as well as efficient cost management in marketing expenses. AIS reported a net profit of Bt8,146mn, increasing 35% YoY and increasing 14

Malee Group Public Company Limited and Its Subsidiaries Management Discussion and Analysis For the Fourth Quarter and the Year Ended 31 December 2018 1. Q4/2018 Highlights Figure 1: Quarterly results

V3 22/02/61 10:09 น. 0 V3 22/02/61 10:09 น. 1 Management Discussion and Analysis Overview of the Economy and Banking Industry Thai Economy in 2017 In 2017, Thailand’s real GDP grew by 3.9 percent, up

V3 22/02/62 14:27 น. 0 V3 22/02/62 14:27 น. 1 Management Discussion and Analysis Overview of the Economy and Banking Industry Thai Economy in 2018 In 2018 the Thai economy grew by 4.1 percent, up