was Bt6,644mn, decreasing -1.7%YoY as D&A rose from new spectrum and expansion and decreasing -7.3%QoQ from unrealized foreign exchange loss and tax benefit in 4Q20. Market and Competitive Environment

Statement 26 Financial Ratios 27 Environment Management Accounting 29 3 Management Discussion and Analysis of Business Operation for Q1/2020 Bangchak Corporation Plc. | Executive Summary Summary of the

reduction such as greater productivity, optimizing human resources • Installing Solar Rooftop to promote green environment and optimize utilities. The first project is in Phra Nakorn Sri Ayutthaya outlet and

around unlimited data plan. AIS had seen weaken mobile revenue due to consumer spending optimization and loss of revenue from traveler segment led to -6.5%YoY decline in mobile service revenue for FY2020

Resources CONTENTS Executive Summary 03 Statement of Income 07 Business Performance 09 Statement of Financial Position 21 Statement of Cash Flows 23 Financial Ratios 24 Environment Management Accounting 26 3

revised FY22 guidance and outlook. Core-service revenue to low-single-digit growth (revised from mid- single-digit growth). EBITDA to flat to slightly decline (revised from low-single-digit growth). We

Q4 which created a decline in mobile service revenue in this quarter. Following the EBITDA movement, AIS reported a net profit of Bt6,757mn, improved 7.1% YoY from better operating performance, lower

to lower household income, sharp decline in employment, particularly in export-related manufacturing sectors, and high rate of household debt. Despite the government economic stimulus, the impact of

affected and may be left behind if there is no collaborative effort to address the issues from all sectors. Research by UNDP shows a decline in government budget for biodiversity management over the past

accelerated inflation and a decline in consumer purchasing power. Through challenges from various factors, AIS delivered core service revenue growth of 1.6% YoY, with the momentum of Fixed Broadband and