20221103-ADVANC-MDA-3Q22-EN Classification: Internal 3Q22 MD&A Advanced Info Service Plc. 1 Executive Summary 3Q22 Thai economy continued a slow recovery from rising inflation. Consumer purchasing
, outbound tourists, and economic activity. However, the rising inflation was an emerging factor pressuring purchasing power for price-sensitive consumers to look for cheaper packages. • Competition in the
accelerated inflation and a decline in consumer purchasing power. Through challenges from various factors, AIS delivered core service revenue growth of 1.6% YoY, with the momentum of Fixed Broadband and
restriction measures limiting business activities while government offered some subsidies that partially supported consumer purchasing power. Restrictions were gradually relieved beginning September including
gradual rebound of consumer purchasing power alongside the effort to restructure the pricing plans and the recovery of tourist- related usages in tourist sims and international roaming calls. This growth
purchasing power. However, from Sep-21 onward, restrictions were gradually lifted, resulting in some improvement in consumer spending. Meanwhile, competition in mobile industry remained elevated as operators
experienced moderate growth amid global economic uncertainty, driven by the expansion of private consumption and tourism sectors, while the purchasing power of the grassroots consumer remained challenging. AIS
seasonality of the quarter with no flagship devices releases coupled with a slow recovery of consumer purchasing power. Handset margins recorded at 1.2%, primarily due to a higher proportion of low-margin