Dividend policy • Minimum 70% of net profit Strong mobile data growth continues with improving network perception In 2018 mobile data consumption is expected to continue its robust growth underpinned by

1 1Q21 MD&A Advanced Info Service Plc. Executive Summary Mobile revenue slightly recovered QoQ following strong acquisition and government stimulus In late 4Q20, the new phase of outbreak had re

revenue of Bt33,293mn, improving 2.9% YoY and 1.6% QoQ, driven by strong growth in fixed broadband and non- mobile enterprise business together with a recovery of mobile business. Mobile business improved

strong, allowing us to invest significantly in our project roadmap, through highly selective growth and turnaround opportunities, leveraging our strengths in core markets and in further enhancing our

relatively strong results in 1Q 2018 with an operating revenue of THB 290mn, an increase by 53.1% and net profit of THB 53mn, increased by 42.3% YoY. 2 MASTER AD PLC MANAGEMENT DISCUSSION & ANALYSIS 1Q 2018 MD

, improving 1.1% YoY mainly driven by strong growth of fixed broadband and non-mobile enterprise business. QoQ, core service revenue dropped by -1.9% mainly from lower mobile revenue. Mobile revenue impacted by

-up 5G perception. Restrictions in the quarter also supported demand for Fixed broadband (FBB) which delivered strong growth of 23% YoY and 7.4% QoQ as well as non-mobile enterprise business growing 23

the need of low-end segment amid economic difficulties. Home broadband, on the other hand, received strong demand from consumers needing to work and study at home amid the government’s tightening

segment in both consumer and enterprise as well as build strong retention program and product/service differentiation. FBB targets to achieve 1.6mn subscribers and continues leveraging mobile subscriber

flow generation are strong, allowing us to invest significantly in our growth engines, through selective growth and turnaround opportunities, leveraging our strengths in core markets and in further