1 FY20 MD&A Advanced Info Service Plc. Executive Summary Mobile business affected by weak economy and competition in data pricing Slowdown in economic and business activities had been observed

. Government enforced fully lockdown with varying degree of restriction within the 2Q causing significant economic impact. For telecom, new subscriber acquisition as well as handset sale remained weak while

FY21 revenue guidance to be flat or slightly decline and EBITDA to be flat. This follows the rising downside risk to the already weak economy driven by the prolonged impact of Coronavirus stem from the

Sovereign Rating Impact Very strong +2 Strong +1 Moderate 0 Weak -1 Very Weak -2 Historical data analysis Momentum adjustments: Near-Term 5Y Overlay from Analysts Output from ESG sovereign

remained concentrated on smaller packages as consumers affected by sluggish economy are seeking for value-for-money. Therefore, the industry ARPU remained under pressure amidst weak spending environment

expanded robustly, adding 290k mainly from pre- to-post migration with our good customer perception on our 5G service. Overall, blended ARPU dropped -5.9% QoQ and -0.6% QoQ to Bt223/sub/month due to weak

firms 6. Audit risks related to developments in the audit firms and profession Big data / data analytics • Impact that “big data” will really have to the audit remains unclear to regulators and the firms

complicated, and for the most part the existing laws do not cover all new ways of committing an offense in the capital market. Legal provisions applied to some cases are unclear and open to interpretation

rental (for the source of untreated water https://market.sec.or.th/public/idisc/Download?FILEID=dat/news/202003/20030242.pdf 20052112.pdf channel remains unclear as there are remaining inventory of

in general greater management participation in SGAH to give more support and necessary controls in the weak areas with the increase in the Company’s direct and indirect equity holding in SGAH from