– Inventory) / Average Current Liabilities at the end of this year 7 Trade receivables (average of outstanding at end of the previous year and at end of this year) / Operating Revenue (Annualised) 643 290 (484

(average of outstanding at end of the same period in the previous year and at end of this quarter) / Operating Revenue (Annualised) 1Q 2017 1Q 2018 1Q 2017 1Q 2018 Profitability Ratios Liquidity Ratios Gross

Bank of Thailand). The overall global aviation industry in the first half of 2019, a growth in passenger traffic was supported by 4.7 percent increase in revenue passenger kilometers (RPK) where Europe

significantly affected by low advertising demand due to the prolonged impact of the COVID- 19 pandemic, which has plunged the global economy into a deep recession. Operating revenue decreased by 32.2% YoY to THB

Page 1 of 7 Management Discussion and Analysis 2Q2019 Executive Summary Singha Estate Public Company Limited (“the Company”) reported 2Q19 total revenue of THB 2,355m, increased by 147% YoY. 300

around unlimited data plan. AIS had seen weaken mobile revenue due to consumer spending optimization and loss of revenue from traveler segment led to -6.5%YoY decline in mobile service revenue for FY2020

” (TFRS9). Summary of Operation for Q4-2020 Topic Outstanding by Quarter Change Q4 – 20 Q3 – 20 Q4 – 19 Q4 – 20 VS Q3 – 20 Q4 – 20 VS Q4 – 19 (MB) (MB) % (MB) % Total Revenue 2,070.7 2,241.1 2,280.3 (170.4

thanks to higher revenue from sales, higher gross profit, higher share of profit from associated companies, and higher net profit comparing to 1Q2018. GFPT Group had total revenue from sales of THB 3,966

discontinued while overall data price gradually uplifted. As a result, AIS’s mobile revenue had a strong improvement, growing 5.3% YoY and 4.3% QoQ driven by ARPU increase. The average data usage, currently at

, which is increased by Baht 915 million or 13% compared to the total revenues of Baht 7,165 million for 2017. The increase results from higher revenue from related technology business and lower revenue