V3 27/02/63 0 V3 27/02/63 1 Management Discussion and Analysis Overview of the Economy and Banking Industry Thai Economy in 2019 In 2019, the Thai economy grew by 2.4 percent year-on-year, down from

E_1 Legal_FA_2015_12_29-c A WCorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2018 In 2018, the overall Thai economy maintained its growth due

terms and conditions of such Agreements. 2. Involved Parties Investor Aapico Hitech Public Company Limited, which is the company incorporated under Thai laws and publicly listed on the SET under the

in accordance with the terms and conditions of such Agreements. 2. Involved Parties Investor Aapico Hitech Public Company Limited, which is the company incorporated under Thai laws and publicly listed

Shares Percentage of Investment 1. DTV Service Company Limited 250,099,990 42.07% 2. Singapore Telecommunication Limited 84,057,030 14.14% 3. Thai NVDR Company Limited 24,567,853 4.13% 4. Ms. Sudrangsri

E_1 Legal_FA_2015_12_29-c A CorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2019 Thai economy in 2019 showed decelerating growth at 2.4

E_1 Legal_FA_2015_12_29-c A WWCCoorrppLL44..11hhiigg A Executive Summary 1 Management Discussion and Analysis For the Year Ended December 31, 2017 In 2017, Thai economic growth gained traction

E_1 Legal_FA_2015_12_29-c A HibrWCorpL.1hig A Executive Summary Management Discussion and Analysis For the Quarter Ending September 30, 2018 The Thai economy in the third quarter of 2018 grew at a

statements for the first quarter ended March 31, 2020 were prepared in accordance with the Thai Financial Reporting Standard No.9 Financial Instruments (TFRS 9) and Thai Financial Reporting Standard No.16

E_1 Legal_FA_2015_12_29-c A brWCorpL.1hig A Executive Summary Management Discussion and Analysis For the Quarter Ending March 31, 2020 The Thai economy in the first quarter of 2020 sank into a