digit driven by all business segments. EBITDA margin is expected to be stable while budgeted for CAPEX of Bt20-25bn (see guidance on page 6). Significant Event for FY19 Since 1 January 2019, AIS has

customers affected by sluggish economy sought for value- for-money services. Competition in postpaid segment has been stable. Operators with 5G services are focusing on building 5G perception and attract 5G

infrastructure investment and a slowdown in private investment. Thai Banking Industry The commercial banking sector in Thailand continued to face some uncertainties in the business environment and ongoing changes

with ongoing data consumption demand, supported by rising tourist arrivals, benefiting the prepaid segment. Competition continued shifting towards value- based offerings with more benefits and

expanded at a slower pace compared with the same period last year due to a contraction in merchandise exports resulting from uncertainty in the trade policies of major countries and the Baht’s ongoing

, which is expected to take place in the early of 2019. Thai Banking Industry Although the commercial banking system in Thailand is facing ongoing challenges from the economic environment, its lending and

1 1Q19 MD&A Advanced Info Service Plc. Executive Summary Mobile growth remained soft from ongoing price competition Overall mobile market in 1Q19 reflected industry's effort in gradually

business sectors remained cautious in investment spending awaiting clarity on the political situation and ongoing geopolitical concerns that impact the global economy. The mobile industry demonstrated signs

policies of major countries and the Baht’s ongoing appreciation. However, the Thai economy has been supported by the expansion of private consumption, due to an increase in auto sales in the first half of

integration of acquired businesses, the start of earning recovery in our high-volume Necessities business and our stable but higher-margin HVA business. We delivered record earnings and cash flows and expect