1 3Q18 MD&A Advanced Info Service Plc. Executive Summary Acquired 1800MHz license and expanded strategic distribution and services In Aug-18, AIS has secured additional 2x5MHz of 1800MHz license

Lime operating a 7th kiln and adding 15% production capacity, will positively impact revenue in Q1 2018. 3. Financial highlights (based on Thai FRS) Q4 2017 Financial Position Summary as of 31 December

majority and sheer number of parties, governing could prove difficult. A large stimulus package is expected and large-scale projects are likely to go ahead. This should help boost the economy going forward

forecast some of the factors that contributed to our over performance in the first half to ease towards the end of the year we look forward to a strong H2. On the cost side we face some headwinds in variable

Page 1 of 11 Singha Estate Public Company Limited Management Discussion and Analysis 1Q2020 Executive Summary Bank of Thailand, in late March 2020, slashed its forecast for Thai economy from the

-1- AIT (VP-SEC) 013E/2018 May 8, 2018 Subject: Management's Discussion and Analysis of Operating Results for Q1-2018 To: The President of The Stock Exchange of Thailand Summary of Operations Q3

-1- AIT (VP-SEC) 026E/2017 7 November, 2017 Subject: Management's Discussion and Analysis of Operating Results for Q3-2017 To: The President of The Stock Exchange of Thailand Summary of Operations Q3

expected to turn to profit gradually going forward. In February 2018, NCL SINGAPORE Co.,Ltd which is subsidiary of the company has incorporated the NCL International Logistics USA Inc. (“NCL USA”) in the

Measurement and Management Framework in Business and Investment Strategies” with an aim to move forward the Thai capital market’s sustainable development and promote the private sector’s compliance with the UN

the same period last year. This represents the Company’s net profit margin of 28.1 percent in 9-months period of 2018. Thus, the details of the Company group can be described as follows: Summary of