May 15, 2020 Subject : Management Discussion and Analysis for 1st quarter ended March 31, 2020 Attention : President The Stock Exchange of Thailand 1. Operating Performance 1.1 Revenues Consolidated

: President of the Stock Exchange of Thailand The Board of Directors’ Meeting No. 7/2019 of Jasmine Telecom Systems Public Company Limited (the “Company”) held on November 11, 2019, has resolved to approve the

The SEC reviewed the principles for overseeing bills issued as securities to ensure compliance with the intent of the Securities and Exchange Act B.E. 2535 (1992) and consistency with the current

with the objectives of the derivatives exchange. Paragraph 2 shall not apply to cases where the Stock Exchange holds more than fifty percent of the total paid-up capital of the derivatives exchange and

of the Securities and Exchange Commission. Clause 2 At least two fifths of the total number of directors of a derivatives exchange shall be persons capable of performing the duty to safeguard the

Stock Exchange of Thailand Aapico Hitech Public Company Limited (“the Company”) would like to explain the consolidated financial statements of the Company for the 1st quarter of fiscal year 2023 ended as

Total Revenues 4,432 4,888 -455 -9.32% Sales and service income 4,244 4,747 -503 -10.60% Gains on Exchange rate 108 52 56 107.01% Other Income 80 88 -8 -9.09% Cost of Sales and Services 3,848 4,214 -366

the adoption of TFRS 15 of 124 million Baht as well as loss from exchange rate of minus 62 million Baht and the increase of registered share capital during the quarter at a total of 580 million Baht

Million Baht 2020 2019 Sales 1,879.42 1,748.29 Cost of Sales 1,570.97 1,636.11 Gross Margin 308.45 112.18 Gain (loss) on exchange rates 101.34 38.44 Other Incomes 10.12 33.76 Total Revenues 1,990.88

Governance Project" of the Securities and Exchange Commission (SEC). An English version of the MD&A has been prepared from the Thai version. In the event of a conflict or a difference in interpretation between