. Core Net Profit is the Reported Net Profit less extraordinary items less tax adjusted inventory gain/loss. Net Operating Debt is Net Debt (total debt less cash and current investments) less cash outflow

unrealized gain of THB 170 million in Q1’2019 from THB appreciation against US dollar during that period. Tax Expense • Tax expense increased 10.2% y-on-y in Q1’2020 to THB 54 million primarily attributable to

Profit (Including Extraordinary Items) 182.59 132.05 50.54 38.27 Extraordinary Items are as follows; (1) Less Gain on sale of unused land 10.18 - 10.18 100.00 (2) Plus Provision for employee retirement

less extraordinary items less tax adjusted inventory gain/loss. Net Operating Debt is Net Debt (total debt less cash and current investments) less cash outflow for the various projects underway which are

benefited from government tax incentive of Bt246mn and foreign exchange gain. 4 FY20 MD&A Advanced Info Service Plc. FY20 Financial Summary (Pre -TFRS 16) Revenue In 2020, AIS reported a total revenue of

gain from foreign exchange of THB 92 million from THB appreciation, but realized a few loss from Yen depreciation. The company also received income tax refund from 2007 as revenue of THB 226 million

to an inventory gain of THB 856 million. However, there was a loss from crude and product oil price hedging contract at THB 75 million. Furthermore, the refinery planned to manage the stocks of

) Gain from the Creditor waived the debt (624) Loss on confirmed purchase orders of undelivered raw material (Reversal of) 178 Loss from disposal of assets 8 Employee benefit obligations 6 Tax expense 7

portion of debentures of 3,614.5 Million Baht, debentures (net) of 2,299.7 Million Baht and advances and deposits received from customers of 4,001.2 Million Baht, deferred tax liability on gain from JV

12.78 3.5 Income tax expense 262.60 180.84 81.76 45.2 Total expenses 2,336.04 2,186.89 149.15 6.8 1,642.08 1,074.55 567.53 52.8 Non-controlling Interests 18.34 23.30 (4.96) (21.3) Profit Attributable to