expect to decline low- single digit from effect of COVID-19 and competition, while CAPEX is approximately Bt35bn. 2 2Q20 MD&A Advanced Info Service Plc. Significant Event in 2Q20 1. In Jun-20, AIS

that has significant changes Balance by Quarter Change Q2–18 Q4–17 Q2–18 VS Q4–17 (MB) (MB) % Advanced receipts from customers 59.9 87.8 (27.9) (31.8) Other current liabilities 35.3 59.6 (24.3) (40.8

for Q1–2018 was a significant decrease of 49.4% from Q1–2017 due to the gross margin of the project delivered in Q1–2018 was lower than those in Q1–2017. Operating Results and Capabilities to Make

expenses which has significant impact in Q3-2018 can be shown in the following table: -2- Balance by Quarter Change Q3–18 Q2–18 Q3–17 Q3–18 VS Q2–18 Q3–18 VS Q3–17 (Million Baht: MB) (MB) % (MB) % Revenue

revenue. The profit in Q2-2017 and Q1- 2016 were not much different. -2- Operating Results and Capabilities to Make Profit Performance from revenues, costs and expenses which has significant impact in Q2

, costs and expenses which has significant impact in Q3-2017 can be shown in the following table:- Balance by Quarter Changes Q3-2017 Q2-2017 Q3-2016 Q3-2017 VS Q2-2017 Q3-2017 VS Q3-2016 (MB) (MB) % (MB

. The EEC project initially focused on the 3 Eastern provinces: Rayong, Chonburi, and Chachoengsao. The EEC development plan envisages a significant transformation of both physical and social development

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

advanced machine learning, we investigate the effect of board gender diversity on corporate culture. Our results demonstrate that greater board gender diversity considerably strengthens positive corporate

1 2Q21 MD&A Advanced Info Service Plc. Executive Summary Prolonged economic impact from new phase of pandemic in 2Q21 As the new phase of pandemic re-emerged in the second quarter, we observed the