SEC set the mechanism to support investor protection by revising business conduct regulations to enhance responsibilities of the intermediaries in selling products and providing services appropriately

intermediaries and business operators, the SEC set the mechanism to support investor protection by revising business conduct regulations to enhance responsibilities of the intermediaries in selling products and

discontinued while overall data price gradually uplifted. As a result, AIS’s mobile revenue had a strong improvement, growing 5.3% YoY and 4.3% QoQ driven by ARPU increase. The average data usage, currently at

, and the names of competitors (only in the case of duopoly or oligopoly), etc. (3) Procurement of products or services Describe an overall procedure for procuring products for sale during the preceding

case of duopoly or oligopoly), etc. - 8 - SEC Classification : ใชภ้ายใน (Internal) (3) Procurement of products or services Describe an overall procedure for procuring products for sale during the

-Translation- Ref. WINNER 006/2020 February 27, 2020 Subject: Management Discussion and Analysis (MD & A) for the year 2019 To: The President The Stock Exchange of Thailand 1. Analysis of Overall

Overall Operating Results for the Company and its subsidiary 1.1 Analysis of Operating Results for the Company and its subsidiary Table 1: Overall operating results for the year 2019 (Unit: Thousand Baht

million. Profit before tax decreased by 4.5% from THB 173 million to THB 166 million mainly due to impairment on asset of THB 13 million, however, the overall selling, administrative and other expenses

declined from 63.48% to 58.46% mainly because the Company had adjusted the premium rate and condition of some non-motor policies. The overall loss ratio therefore was in decline. 2. Net investment revenue

business (Net written premium). A fall in Loss Ratio, together with a rise in earned premium and sales, resulted in an overall underwriting profit (before income tax expense) of THB 30.41 million, an