guidance of +7-8% YoY. In 1Q18, AIS spent Bt6.5bn of CAPEX to deliver quality 4G network and has been active in reinforcing brand image especially via online media. As a result, mobile business grew 3.1% YoY

11.5 GB/subscriber, also rose more reasonably following the discontinued unlimited data offerings. CAPEX was well under plan with 1H19 investment of Bt13,265mn tracking with the full year guidance of

%. Delivered FY20 performance in-line with guidance from well-managed cost Overall FY20 performance tracked in- line with all guidance. Core serviced revenue of Bt129,594mn declined -5.1%YoY vs guidance of low

keeping the capital costs at an appropriate level and strive to maintain the financial ratio that are keys to credit rating consideration such as Net Debt to EBITDA. However, there is no debt covenant that

improved following on-going cost optimization and FY17 guidance maintained. AIS reported 3Q17 EBITDA of Bt17,589mn, +15% YoY and +2.8% QoQ, mainly due to revenue growth and controlled SG&A. YTD, AIS spent

: AIS continues to focus on cost optimization for operation and SG&A to preserve profitability; therefore, we are expecting EBITDA for FY2020 to decline low single digit, same level as previous guidance

loss and high base of 2Q21 with one-time other income. Revised guidance from rising economic concerns Due to a rising concern on inflation, consumer spending, and continued intense competition, AIS

gross margin. Q4’19 Net profit* was at THB 823 million (+4.3% YoY). - 2019 Revenue from sales grew by 5.4% YoY, amounting to THB 25,611 million, aligned with our guidance. Taking out effect from exchange

expansion and spectrum acquisition. FY18 Guidance On 23 January 2018, the company has acquired 80.10% of CSL shares through tender offering, with an aim to strengthen the growth potential in enterprise

and to create business cases for monetization in the future. Core service revenue ( Pre- TFRS 15) grew 2. 5% YoY with guidance maintained In summary, Pre- TFRS 15, AIS’ s core service revenue in 1Q19