2- and 3-Carrier Aggregation (CA) technology. During the quarter, the competition focused on acquiring/maintaining quality customers in postpaid segment through handset campaigns and pricing strategy

both pricing environment and handset campaigns despite lessen from previous year. Market was driven by postpaid acquisition via handset bundling package causing steady rise in blended ARPU throughout the

Environment Mobile market continued to grow following customer behavior using more mobile data while 4G penetration expanding. Handset subsidies stay as a key attraction for operators to acquire and retain

speed unlimited price plan while handset subsidies were more locally- focused compared to last year. With accumulation of fixed- speed unlimited subscribers, revenue and ARPU have been pressured. However

 sub handset subsidi arket,  the opera ard fibre techno itive with attra ntent bundling  me entertainme y  focus  on  acqu cing. Postpaid n ely  driven  by  p orted by growin on quality of ne g the

challenging in 1Q19. In strategic areas, aggressive price plans and handset campaigns were launched, especially in prepaid, in which AIS was competitive to preserve scale. As a result, mobile revenue grew 1.1

2019, AIS adopted Thai Financial Reporting Standards (TFRS) 15 regarding revenue from contracts with customers. The standard affects accounting of handset campaigns with price plan contract. This

TOWER, ROOM NO.1701, 1702 17TH FL., PLOENCHIT ROAD, LUMPINI, PATHUMWAN, BANGKOK 10330 LUMPHINI, PATHUM WAN, Bangkok 10330 Tel. 02-880-6000 Fax. 02-680-5112 4. GUARDIAN CAPITAL ASSET MANAGEMENT COMPANY

market has remained competitive since end-2017. Overall, operators more carefully spent on marketing activities. Postpaid segment continued to be the main focus where handset subsidies and network quality

consumption rising to 11.5 GB/month. Postpaid segment continued to grow robustly underpinned by customer demand to convert from prepaid to postpaid and attractive handset campaigns. As a result, postpaid