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

Given the prolonged period of low interest rate in the Thai bond market, many debt securities issuers are increasingly issuing for sale subordinated perpetual bonds which have more complex

considering the level of provisions taking into account the prolonged uncertainties from the COVID-19 and recorded total expected credit loss amount for 1Q21 at Baht 1,234 million. The Bank placed importance on

continued to gradually expand in the second quarter, driven primarily by the export and tourism sectors, as well as an increase in the price of rice after a prolonged period of stagnation. However, these

market was strong as the sugar season was prolonged and infrastructure projects supported our key markets of steel and construction. The Thai economy continues to outperform expectations and while we

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

significantly affected by low advertising demand due to the prolonged impact of the COVID- 19 pandemic, which has plunged the global economy into a deep recession. Operating revenue decreased by 32.2% YoY to THB

Quarter ended March, 2019 were severely impacted by production disruptions resulting from breakdown of critical gear and transformer which resulted in an unexpected prolonged Shutdown. While breakdown of

% or THB 171mn from 31 December 2018. The improvement of deficit from six-month net profit was diluted by the impact of currency translation due to THB appreciation against EUR and GBP. To comply with

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