. Solid demand for home connectivity driven by pandemic AIS Fibre, fixed broadband business (FBB), continued growing strongly with subscriber growth of 29% vs overall market growth of 10-12% driven by

) business continues to outperform helping this segment deliver healthy an overall EBITDA of $26 million during its shortened quarter. Our Specialty Chemical segment had its weakest quarterly performance due

Thai Economy in the Third Quarter of 2018 Overall, the global economy exhibited ongoing growth. However, signs emerged that many countries, particularly emerging economies, which had been under pressure

transactions, and thus slash our cash management costs, leading to reduced costs for our customers and within the overall economic system in the long run. Within this context, KBank and K Companies accentuate

Analysis (MD&A) 3 Q2/2020 Operating Results Overall operating results of the Company and its subsidiaries (unit: THB million) Q2/19 Q1/20 Q2/20 change +/(-) 6M/19 6M/20 Change +/(-) YoYYoY QoQ Operating

QoQ driven by  ber base of AIS )  alone  grew  4 onsumption.  enue was Bt11,0 data substitutio revenue was B Q  as  a  result  of higher consump 2 5,812 33,542 39,355 400 26 426

&A 4 Strategic Investments IVL continued in its earnings accreting growth journey through several acquisitions and organic imperatives with an overall capital investment of $2.26 billion in 2018 which

export markets in Cambodia and Australia. Additionally we further strengthened the leadership team and middle management (while reducing the overall headcount via automation and reorganization of workflows

1 Ref: AC.031/2017 15 August 2017 Subject: Management discussion and analysis of financial position and operating results To: President and Manager The Stock Exchange of Thailand Overall operating

1 Ref: AC.004/2018 26 February 2018 Subject: Management discussion and analysis of financial position and operating results To: President and Manager The Stock Exchange of Thailand Overall operating