export and investment 3) The increase in oil prices due to geopolitical tension, particularly in the Middle East, which negatively impact the current account surplus as well as leading to higher inflation

Quarter Ended 31 March, 2020 Page 1 Executive Summary Unit : Million baht 2020 2019 Total revenues * 4,506.78 4,014.33 492.45 12.3 Total cost and expenses * 2,522.92 2,311.10 211.82 9.2 Gain (Loss) on

ARPU slightly decreased -2.7%YoY. Fixed broadband business, contributing 5% of the core service revenue, continued its momentum with recorded high subscriber gain of +165k for 1H20 stimulated by work

finance cost, and a net FX gain. It declined -8.2% QoQ from lower foreign exchange gain. Market and Competitive Environment Thai economy exhibited signs of further recovery in 1Q23 due to the improvements

(Chachoengsao) Co. ,Ltd. also increased its production capacity. In addition to the improvement of raw material cost management - leading to increase 5 Management Discussion and Analysis of Business Operation for

at Suvarnabhumi airport, together with new airline customers they engaged during the period. Besides, the increasing of revenue was from dividend received and gain on sale of assets. While, total

into quarter on quarter gain. The financial performance of MTBE continue to see improvement as gasoline inventory gets normalized with the ease down of lockdown and improved crude oil prices

continued to expand and improve network quality with new 2600MHz spectrum and enhance 4G/5G network capacity to secure leading position. As a result, EBITDA (Pre-TFRS16) decreased -3.0%YoY, in line with FY20

2017. The operating results were, List Year End period (Unit: Million THB) 2016 2017 Difference Income from Sales of real estate 3,153.1 8,764.9 5,611.8 178.0 Other Income - Gain on sales of investments

788.5 89.93 1,868.1 3,689.6 1,821.5 97.51 Other Income - - Gain on sales of investments in subsidiaries - 267.1 267.1 100.00 - 267.1 267.1 100.00 - Others 7.9 27.5 19.6 248.10 31.7 57.6 25.9 81.70 Total