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

. Analysis of Statement of Financial Position 8 6. Finance Cost: Finance cost arises from the recognition of interest expense related to lease liabilities from the adoption of Thai Financial Reporting

formation. Hence, the NESDB has cut down its growth forecast for the Thai economy in 2023 to the range of 2.5%-3.0% from the previous forecast of the range of 2.7%-3.7%, which the supporting factors still

quarter continuously. Hence, the NESDB has cut down its growth forecast for the Thai economy in 2023 to the range of 2 .5 % which is lower than the earlier expectation, in which the supporting factors still

exports improved from the previous quarter continuously. Hence, the NESDB has cut down its growth forecast for the Thai economy in 2024 to the range of 2.2-3.2%, in which the supporting factors still being

decelerating rate from 1.9% in the previous year, due to the delay of government’s budget allocation. Hence, the NESDB has cut down its growth forecast for the Thai economy in 2024 to the range of 2 .0%-3.0%, in

Translation (Translation) Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference. The SEC, Thailand cannot undertake any

Public Company Limited and its Subsidiaries Management’s Discussion and Analysis for the year ended 31 March 2020 Executive Summary Thai Economy in the first quarter of 2020 happened into recession due to

from recovery of internal demand of several countries. In the meantime, Thai economy still has continuously expanded in the same direction from investment motivation of both governmental and private

2019, AIS adopted Thai Financial Reporting Standards (TFRS) 15 regarding revenue from contracts with customers. The standard affects accounting of handset campaigns with price plan contract. This