2018 is maintained with 5% growth of core revenue driven by higher revenue from Dusit Thani hotels in Phuket, Manila, Maldives and Hua Hin. The expected core EBITDA margin is also maintained at around 15

1 Forth Smart Service Public Company Limited (FSMART) 3Q18 Management Discussion and Analysis Operational Summary 9M18 Operational Summary  Total revenue from core business was Bt2,523mn, increasing

accelerated inflation and a decline in consumer purchasing power. Through challenges from various factors, AIS delivered core service revenue growth of 1.6% YoY, with the momentum of Fixed Broadband and

to a 20% reduction in IVL’s core EBITDA. Operating cash flow through this period increased by 33% to $1.3B, as a result of lower prices and operational excellence. IVL has proposed a dividend of

Balance by Quarter Change Q3-24 Q2-24 Q3-23 Q3-24 VS Q2-24 Q3-24 VS Q3-23 (Million Baht: MB) (MB) % (MB) % Total revenue 1,926.4 1,866.9 1,704.9 59.5 3.2 221.5 13.0 Total operating expenses 1,738.9 1,698.2

Dusit Thani Bangkok hotel and THB 3 million net increase from new investments. The Company still maintains core revenue growth forecast at 8-10% and plans to sell investment in subsidiary to alleviate

Purchase Agreement. Benefits of entering into the transaction are as follows: 1. Improvement in financial liquidity to focus investments on its core business 2. Decreasing THB 620 million of debts in terms

1 Forth Smart Service Public Company Limited (FSMART) 4Q17 Management Discussion and Analysis Operational Summary in 4Q17  Total revenue from core business was Bt3,105mn, an increase of 38.3 % YoY

1 Forth Smart Service Public Company Limited (FSMART) 2Q19 Management Discussion and Analysis Operational Summary in 2Q19  Net profit was Bt145mn, decreasing 3.4%YoY  Total revenue from core

Company’s operating performance in 2017 and 2016 is shown in the following table: FY2017 FY2016 % Change FY2015 % Change [Amount in Baht Million] Y-o-Y Y-o-Y [2017 VS. 2016] [2016 VS. 2015] Sales Revenue