887,900 114,900 -122% -87% Total net additions -136,300 1,330,300 466,600 -442% -65% ARPU (Baht/sub/month) Postpaid 523 480 471 -9.9% -1.8% Prepaid 156 150 142 -9.1% -5.5% Blended 239 232 225 -6.2% -3.1

additions 466,600 506,600 881,200 89% 74% ARPU (Baht/sub/month) Postpaid 471 460 460 -2.3% 0% Prepaid 142 129 127 -11% -1.6% Blended 225 216 215 -4.4% -0.5% MOU (minute/sub/month) Postpaid 181 166 164 -9.4

% Prepaid 268,700 162,300 (800) -100% -100% Total net additions 506,600 351,400 108,000 -79% -69% ARPU (Baht/sub/month) Postpaid 460 455 449 -2.6% -1.3% Prepaid 129 123 120 -6.7% -2.4% Blended 216 213 210

% NM% Total net additions 881,100 108,000 (804,900) NM% NM% ARPU (Baht/sub/month) Postpaid 460 449 448 -2.6% -0.1% Prepaid 127 120 123 -2.7% 2.7% Blended 215 210 213 -0.7% 1.6% MOU (minute/sub/month

% Prepaid 123 123 125 1.9 % 1.7 % Blended 212 213 216 2.1 % 1.2 % MOU (minute/sub/month) Postpaid 155 146 141 -9.0% -3.4 % Prepaid 58 56 55 -5.2 % -1.8 % Blended 82 78 77 -6.1 % -1.3 % VOU (GB/data sub/month

E_1 Legal_FA_2015_12_29-c A CorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2019 Thai economy in 2019 showed decelerating growth at 2.4 percent compared to 4.2 percent in the previous year.The slowdown could be attributed to exports which contracted further due to the stronger Baht and a global economic slowdown. In addition, the investment environment of both the public and private sector remained weak, and private consumption, albeit gro...

in sales product mixed, and also initial cost of ramping up of the UHT OEM operation. 2/3 Food business The cost of food and services was Baht 3,914 million increased by Bath 247 million or 6.7% from

inflation. 16 asset management companies joined the Project offering 46 mutual funds, comprising equity funds, fixed income funds, mixed funds, and target date funds. Investors can select the funds suitable

. Diversification into Mixed-use Development Projects CPN sees the potential in mixed-use development projects, which consist of residential projects, office buildings and hotels, in the same complex as the shopping

demand led to increased data usage, resulting in a blended ARPU of Bt223, up 3.0% YoY. Prepaid ARPU remain flat QoQ from seasonality. Postpaid ARPU declined QoQ, pressured by continuous effort in handset