, stable ratio with the corresponding period of previous year. The main reasons were an increase in employee expenses of Baht 1 million due to salary increasing and an increase in promotion expenses of Baht

Template updated as of June 2022 For public offering of Mutual Recognition of Funds between Hong Kong Special Administrative Region of the People's Republic of China and Thailand (HK-TH MRF) in

“Stable outlook”. On February 19, 2020, Fitch Ratings Inc. downgraded the company’s rating from AA- (tha) to BBB+ (tha) with a stable outlook and withdrawn the Rating Watch Negative. 1.5 Annual General

customers in Bangkok. 1.4 Company’s credit rating On February 17, 2020, TRIS Rating Co., Ltd. rated the company for the first time on the Standalone basis at “A-” with a “Stable outlook”. On February 19, 2020

services and others, were Bt1,155mn, increasing 83% YoY due to the recognition of CSL revenue. QoQ, other service revenues decreased 1.0%. Interconnection charge (IC) and equipment rental were Bt3,111mn

to mid-single digit, while maintaining EBITDA outlook with low-single digit decline and CAPEX of around Bt35bn. Market and Competitive Environment In 3Q20, mobile competition remained stable as all

gaining wide acceptance and recognition at home and abroad, as reflected in the numerous awards we received in this quarter. C Contents Page Executive Summary A 1. Overview of Operating Environment 1 1.1

international standards. Sustainability Disclosure Recognition The company received the Sustainability Disclosure Recognition 2020. Held by Thaipat Institute, this prestigious certificate is presented to the

was stable y-on-y in 6M’2020 at 3.31 THB/kWh which is in line with the Ft charge announced by the ERC. FINANCIAL PERFORMANCE REVENUE STRUCTURE ABBREVIATION & OUR PROJECTSEXECUTIVE SUMMARY FINANCIAL

differentiation strategy, especially the Green Apple flavored energy drinks under Carabao trademark, which are getting more recognition from customers. Nevertheless, ICUK does realize the dynamics and competitive