% Network and PPE 132,579 47% 133,864 47% Figures from P&L are annualized YTD. Intangible asset 4,499 1.6% 4,857 1.7% Defer tax asset 2,562 0.9% 2,558 0.9% Debt Repayment Schedule License payment schedule

ณ 31 ธันวำคม 2561 และ 31 ธันวำคม 2560: อัตรำส่วนทำงกำรเงินที่ส ำคัญ Note: 1) Net Debt = Interest bearing liabilities – cash and cash equivalents 2) Leverage Q2 and FY use annualized EBITDA 3) ROFA

equivalents 2) Leverage Q2 and FY use annualized EBITDA 3) ROFA = (Net profit + Depreciation)/ Average (Q4 2019 and Q4 2018) of property, plant and equipment Mr. Geza Perlaki Mr. Krishnan Subramanian Aylur

1.38 1.18 Current Ratio (times) 0.50 0.46 0.43 Interest Coverage (times) 17 14 14 Debt Service Coverage Ratio (times) 3.3 3.4 7.3 Return on Equity 83% 67% 75% Figures from P&L are annualized YTD. Debt

% Return on Equity 90% 64% 73% Network and PPE 118,271 43% 130,658 47% Figures from P&L are annualized YTD. Intangible asset 4,099 1.5% 4,388 1.6% Defer tax asset 2,618 0.9% 2,743 1.0% Debt Repayment

12.93 * = Annualized Dusit Thani PCL Management Discussion and Analysis For 3Q17 and 9M17 P a g e | 7 Currently, the Company is in the first 3 years of strategic plan (2016-2018) which is a crucial stage

earnings. The Board of Directors has approved the 2017 annual dividend amounting to Bt3.57/share or 70% of the net profit from 2H17 performance. The XD and payment dates will be on 5th April 2018 and 26

/EBITDA) 1.72 0.91 1.48 0.60 Note: 1) Net Debt = Interest bearing liabilities – cash and cash equivalents 2) Leverage Q4 uses annualized EBITDA 3) ROFA = (Net profit + Depreciation)/ Average (Q4 2017 and Q4

ตอบแทนต่อปี (Annualized Return) **ผลการด าเนินงานในอดตี มไิดเ้ป็นสิง่ยนืยนัถงึผลการด าเนินงานในอนาคต ดชันีช้ีวดั ดชันี MSCI All China Net Total Return USD Index 100% (ปรบัดว้ยตน้ทุนการป้องกนั ความเสี่ยงอ

1.5% Figures from P&L are annualized YTD. Defer tax asset 3,491 1.2% 3,828 1.1% Debt Repayment Schedule License payment schedule Others 4,984 1.7% 5,316 1.5% Bt mn Debenture Loan 1800MHz 900MHz 2600MHz