and equipment Inventories Investment properties Rights of use assets Assets Liabilities and Equity Others Other receivables Leasehold rights Trade account receivables 31 December 2019 31 March 2020

equipment. • Network OPEX & TOT partnership cost was Bt19,128mn, increasing 5.6%YoY from higher base rental & utility as well as maintenance of 5G/4G network. • Other costs of service were Bt9,017mn

due to fully depreciated 3G network equipment offset with our continued investment of 5G network rollout. AIS invests with optimization and superior network quality in mind and expanded in the area with

staff cost from acquisition and provision for obsolete equipment, while marketing expense benefited from government campaign and optimization effort, decreased by -3.6% YoY. 1H24 EBITDA increased by 21

expense due to higher staff cost from acquisition and provision for obsolete equipment, while marketing expense benefited from government campaign and optimization effort, decreased by -3.6% YoY. 1H24

. These include uncertainties in US economic and trade policies, Europe’s ongoing regional political problems, and China’s economic restructuring. In addition, the increase in the federal funds rate and the

associated, net and advance payments for investment 49,325 63,208 (13,883) (21.96%) Property, plant and equipment, net 61,723 62,420 (697) (1.12%) Other non-current assets 49,741 51,629 (1,888) (3.66%) Total

high level of debt. Cost of manufacture will be increasing as trade barriers and addition of policy interest rate in December 2018. 3. WATER SITUATION As of 31 January 2 0 19, the water supply situation

. However, the pace of expansion is expected to ease if downside risks, such as the continuing U.S. and China trade dispute, materialize. In addition, Thailand is scheduled to hold elections on 24th of March

MANAGEMENT DISCUSSION AND ANALYSIS FOR 2017 2 2. ECONOMIC SITUATION Thai economy continually expanded supported by every economic engine especially merchandise exports that were uplifted from global trade