Osotspa Public Company Limited Management’s Discussion and Analysis (MD&A) Consolidated Financial Results: Q4’19 and FY2019 26 February 2020 FY2019 Management Discussion & Analysis Page 1/6 Financial

flexibility in business operation as well as greater competitiveness, and in line with the trend towards consolidated supervision of financial institutions of the Bank of Thailand.

management or advisor of another securities company, which is in support of financial conglomerate of securities businesses, bringing about flexibility in business operation as well as greater competitiveness

Company’s shareholding in EP in accordance with each calculation method prescribed under the Notifications of Acquisition and Disposition of Assets, based on the Company’s and EP’s reviewed consolidated

quality financial services to AEON cardholders. 2 Operating Results  Revenues In the fiscal year ended February 28, 2019, the Company’s consolidated revenues amounted to 20,642 million baht, an increase of

financial flexibility to lead, compete, and pursue growth prospects in any changing circumstances. The dividend payment shall be made twice a year and is based on consolidated earnings and subjected to the

Indorama Ventures Public Company Limited for the second quarter ended June 30, 2020 We are pleased to submit: 1. Consolidated and Company only Quarterly Review of Financial Statements for the second quarter

minimum of 70% of net profit to preserve financial health and flexibility for future growth. (See the full guidance for FY18 on page 7) Significant Events 1. AWN, AIS’s subsidiary, has released the results

balance 9 Total 22,011 Total 22,011 1Q17 MD&A Advanced Info Service Plc. 6 2017 MANAGEMENT OUTLOOK & STRATEGY (maintained) Service revenue (excluding IC)  increase 4-5% YoY Handset sales Consolidated

OUTLOOK & STRATEGY (maintained) Service revenue (excluding IC)  increase 4-5% YoY Handset sales Consolidated EBITDA margin  increase with near-zero margin  42-44% CAPEX  Bt40-45bn Dividend payout