1Q22 MD&A Advanced Info Service Plc. Executive Summary Prolonged economic impact from Omicron outbreak and rising inflation in 1Q22 In 1Q22, Thailand’s economic recovery was challenged as private

compensation from NBTC partially covered revenue loss. After gradual lifting of lockdown in late May-20 and economic activity slowly resumed, there were pent-up demand led to rebound in new acquisition and

easing COVID-19 situation with a rebound of foreign tourists which boosted Thailand’s economic recovery. Nonetheless, domestic demand stayed soft due to the global geopolitical conflicts that created

of economic activities. 3Q20 performance; however, would not fully bounce back to the pre-COVID band due to the Company’s spending on marketing activities to promote goods and services of tenants in

traction from the first quarter. The ongoing economic rebound was mainly driven by exports and tourism, whereas domestic spending and investment only gradually picked up. Still, the economy has yet to see

of local businesses, their workers as well as increased household debt. Moreover, recovery on tourist and export sectors, key engines for Thai economy, still mainly depend on large scale vaccination in

(Overseas) Mikka Cafe New Brand Perspectives on Thai economy in 2022 • The Thai economy is expected to recover gradually in 2022. During the first half of the year, slow recovery is expected due to the

remained sluggish while the new phase of outbreaks re-emerging in Dec-20 posed further challenges on economic recovery. Despite some positive development in subscriber base in 4Q20, pricing remained the key

accommodate domestic economic activity, which is continuing along a stable recovery path. 1.2 Banking Industry, Competition and Emerging Risks  Banking Industry and Competition Commercial banks’ overall

from 3.3 percent in 2016 on the back of rising exports and a robust tourism sector, consistent with a stronger recovery in global demand. Headline inflation rose to 0.7 percent, following higher energy