1 --Translation-- Sor Gor 113/2017 November 9, 2017 Subject: Management Discussion and Analysis for the third quarter ended September 30, 2017 (Reviewed) To: The President The Stock Exchange of

: President Stock Exchange of Thailand Demeter Corporation Public Company Limited (“DCORP” or the “Company”) would like to submit the reviewed financial statements for first quarter of the year 2018 ended March

: President Stock Exchange of Thailand Demeter Corporation Public Company Limited (“DCORP” or the “Company”) would like to submit the reviewed financial statements for first half of the year 2018 ended June 30

Attention: President Stock Exchange of Thailand Demeter Corporation Public Company Limited (“DCORP” or the “Company”) would like to submit the reviewed financial statements for first 9 months of the year 2018

low net debt to EBITDA of 0.8x and decent interest coverage ratio of 16x. Asset turnover: Inventory was well-managed with inventory days declined from 44 days to 22 days due to lower handset stock

automatically upon the unit price achieving the targeted value (“trigger fund”), and a mutual fund that is a smart beta fund, the investment strategy and how the fund intends to achieve its objective stipulated

like SD-WAN, value-added services such as business cloud, and specific 5G vertical solutions to enhance operational efficiency in targeted industries. In addition, enterprise non-mobile revenue also

spending and large cloud projects. AIS enterprise continue the focus on core connectivity products, strengthened through partnerships aimed at delivering higher returns in targeted industries. Market and

Derivative Warrants | NIKKEI41P2512A | DERIVATIVE PUT WARRANTS ON NIKKEI 225 STOCK AVERAGE INDEX ISSUED BY JPMORGAN SECURITIES (THAILAND) LIMITED LAST TRADING IN DECEMBER 2025 # A | NIKKEI 225 STOCK

Derivative Warrants | NIKKEI41P2512B | DERIVATIVE PUT WARRANTS ON NIKKEI 225 STOCK AVERAGE INDEX ISSUED BY JPMORGAN SECURITIES (THAILAND) LIMITED LAST TRADING IN DECEMBER 2025 # B | NIKKEI 225 STOCK