supported by growth across all three businesses. Mobile business (Bt29,591mn, 2.0% YoY and 1.3% QoQ) saw slightly improved spending in 4Q21 after pandemic restriction eased while low-price environment

Thailand and Italy since 17 May and 18 May, the Company has to open under restriction on operating hours, social distancing and customers concern about COVID-19 and economic situation by selective spending

to COVID-19 pandemic. Therefore, the customer spending was still not fully recovered and declined shopping frequency. In addition, the international travel restriction also affected the declining of

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

retraction of economic activities and consumer spending. The consumer sentiment remains fragile as the country waits for vaccination against the new variant. Despite of such economic weakness, we delivered

. Government enforced fully lockdown with varying degree of restriction within the 2Q causing significant economic impact. For telecom, new subscriber acquisition as well as handset sale remained weak while

loss and high base of 2Q21 with one-time other income. Revised guidance from rising economic concerns Due to a rising concern on inflation, consumer spending, and continued intense competition, AIS

. It was still challenging for telecom sector particularly in the mobile business due to weak consumer spending and revenue loss from traveler sector due to international travel restriction. Fixed

financial difficulty and unable to maintain adequate net capital as prescribed. The revised rules include rectification period, restriction of business operations during rectification period and undertakings

Page 1 of 9 Singha Estate Public Company Limited Management Discussion and Analysis 2Q20 Executive Summary Since May 2020, restriction has gradually been lifted and lockdown measure started to be