3Q21 MD&A Advanced Info Service Plc. Executive Summary Slight revenue improvement despite COVID restriction measures and continued competition During 3Q21, the economy remained subdue from COVID

recovering after passing through the bottom in April, which was the most affected. After various countries around the world started relaxing their lockdown policies and travel restriction. Combined with the

allocating the shares to any subscriber if such allocation causes or may cause the infringement of foreign shareholding restriction as specified in the Articles of Association of the Company which, at present

shall undertake the securities borrowing and lending business within that restriction. In the case where the business operator under the first paragraph wishes to relax or remove such restriction, the

May 1999. (Translation) -5- after license has been given,, the business operator shall undertake the securities borrowing and lending business within that restriction. 20 In the case where the business

Lending (No. 2) dated 26 May 1999. (Translation) -5- after license has been given,, the business operator shall undertake the securities borrowing and lending business within that restriction. 20In the case

derivatives position remaining until the settlement date. 6. Risk from being unable to proceed with the order of futures trading of an investor for loss limitation The derivatives broker may be unable to

may lose from the derivatives position remaining until the settlement date. (Translation) 6. Risk from being unable to proceed with the order of futures trading of an investor for loss limitation The

futures trading of an investor for loss limitation The derivatives broker may be unable to proceed with the order of any kind of futures trading of an investor which has an objective to limit potential loss

in the SPA being fulfilled. Those conditions precedent include, without limitation, receipt of (i) the approval of general meeting of shareholders and approval of the Bank of Thailand for the Bank’s