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Investor Presentation Advanced Info Service Plc. August 2019 Ticker: ADVANC (SET) AVIFY (ADR) Add AIS IR LINE@ AIS: Digital Life Service Provider Lead and digitally transform in Grow stronger in Partner to offer differentiated Mobile


  1. Investor Presentation Advanced Info Service Plc. August 2019 Ticker: ADVANC (SET) AVIFY (ADR) Add AIS IR LINE@

  2. AIS: Digital Life Service Provider Lead and digitally transform in Grow stronger in Partner to offer differentiated “ Mobile ” “ Fixed broadband ” “ Digital service/platform ” Mobile revenue market share Focused on five key areas Subscriber market share (market size of approx. 8.7mn) 29% 48% 34% 1Q19 16% 1Q19 Mobile 23% Enterprise money 9% 41% 2Q19 breakdown Video IoT prepaid postpaid Bt32.9bn Source: Operators’ reports 3% Others Other 3% 5 th year of operation in 2019 24% 21% platforms Voice 45% covering 57 key cities out of • Insurance Non- 79% 73% • Game voice 77 provinces 52% • Advertising expect to cover 7mn homes Mobile revenue subs % to mobile 41.5mn passed out of total 21.5m revenue households Digital life service provider with convergence products Mark leadership in mobile data Expand access and convergence Pursue long-term growth with • Nationwide 4G/3G/2G coverage to homes integrated services • Leverage existing nationwide fibre • Emphasize partnership & with focus on network quality • Competitive in retaining both infrastructure ecosystem • Defensive value to core mobile • Leverage the large sub base and revenue and subscriber scale business telecom infrastructure 2

  3. 2Q19 Overview: Mobile saw improvement while FBB continued strong growth Core service revenue: grew 5.8% • Revenue +5.3% YoY, +4.3% QoQ following discontinuation of fixed- YoY driven by improvement in mobile speed U/L plans Mobile • Postpaid subs gained 250k vs -276k in prepaid with data consumption of 11.5 GB/month +5.8% 35,394 (Bt mn) • Robust revenue growth of +26% YoY, +7.1% QoQ driven by 60.4k 33,464 1,103 -1.1% net addition 1,380 Others FBB 1,115 +26% • Focused on FMC and maintain 1mn subs target supported by AIS 1,094 shops, Telewiz, and AIS Call Center to ensure quality FBB Mobile Enterprise: 32,911 +5.3% • Maintained high-single digit growth for FY19 , supported by end- 31,256 Digital to-end product proposition combined with CSL services Consumer: • Continued building engagement platforms in video, mobile money, IoT, and partner platforms 2Q18 2Q19 EBITDA and margin: grew 4% YoY supported by revenue growth Net profit: continued improving trend 45.0%* 44.2%* Norm. (Bt mn) +2.9% • +7.6% YoY and +4% 8,234 Network 8,005 QoQ from mobile & FBB Norm. +4% OPEX expansion (Bt mn) 19,753 (excl. TOT) 18,998 • +25% YoY and +14% QoQ from brand and 2Q18 2Q19 SG&A handset campaigns • +2.9% YoY and +8.1% QoQ following EBITDA expansion, despite rising D&A 2Q18 2Q19 *Show performance after normalizing Bt636mn (before tax) of legal severance compensation in 2Q19 3

  4. 2Q19 & 1H19 Financial Highlights (Pre-TFRS15) Pre-TFRS 15 Bt mn 2Q18 1Q19 2Q19 %YoY %QoQ 1H18 1H19 %YoY ▲ 5.3 % ▲ 4.3 % ▲ 3.2% 31,555 Mobile revenue 31,256 32,911 62,464 64,466 ▲ 26% ▲ 7.1% ▲ 27% 1,288 FBB revenue 1,094 1,380 2,107 2,669 ▼ 1.1% ▼ 1.4% ▲ 8.8% 1,119 Other revenues 1,115 1,103 2,041 2,221 ▲ 5.8% ▲ 4.2% ▲ 4.1% 33,962 Core service revenue 33,464 35,394 66,612 69,356 ▼ 5.2% ▲ 37% 2,995 2,841 IC and equipment rental 2,845 Flat 4,263 5,836 ▲ 5.3% ▲ 3.5% ▲ 6.1% 36,957 38,235 Service revenue 36,309 70,875 75,192 ▲ 9.0% ▼ 6.0% ▲ 8.4% 6,867 SIM and device sales 5,919 6,453 12,287 13,320 ▲ 5.8% ▲ 2.0% ▲ 6.4% 43,824 Total revenue 42,228 44,688 83,161 88,512 ▲ 5.0% ▲ 1.8% ▲ 9.6% Cost of service (19,817) (19,202) (20,170) (36,483) (39,987) ▲ 24% ▲ 14% ▲ 16% SG&A (6,197) (6,786) (7,706) (12,533) (14,492) ▲ 0.6% ▲ 1.1% 18, 998 18,906 EBITDA* 19,117 37,904 38,023 Flat ▼ 5.7% ▼ 6.4% EBIT* 10,673 10,059 10,065 Flat 21,499 20,124 ▼ 3.5% ▲ 1.5% ▼ 4.4% 7,615 7,725 NPAT* 8,005 16,042 15,340 ▼ 100bps ▲ 20bps ▼ 210bps - 3.0 % - 4 . 2 % - 4 . 0 % Sales margin -2.0% -4.1% ▼ 220bps ▼ 30bps ▼ 260bps EBITDA margin* 45.0% 43.1% 42.8% 45.6% 43.0% ▼ 280bps ▼ 50bps ▼ 320bps EBIT margin* 25.3% 23.0% 22.5% 25.9% 22.7% ▼ 170bps ▼ 10bps ▼ 200bps NPAT margin* 19.0% 17.4% 17.3% 19.3% 17.3% *Included one-time expense of Bt636mn (before tax) for legal severance provision in 2Q19. See page 10 for normalization 4

  5. FY19 Pre-TFRS 15 Guidance (maintained) FY19 guided items Guidance Rationale • Mobile: stay competitive in maintaining business scale Core service revenue Mid-single digit growth driven by 4G and penetration in growing segments • FBB: deploy FMC (Fixed- Mobile Convergence) targeting 1mn subscribers milestone • Enterprise: gain share in mobile airtime and EDS while growing in Cloud/DC/ICT managed services • Allocate sufficient capital to retain and expand scale in EBITDA margin Stable from last year (43.4% in FY18) respective businesses • Optimize OPEX, offset with cost to support network growth in all businesses • Focus on 4G capacity expansion incorporating 5G- Budgeted CAPEX Bt20-25bn, of which (excludes spectrum Bt4-5bn allocated for compatible architecture • Expand last miles to serve 1mn FBB customers payment) FBB • Preserve financial health and flexibility for future growth Dividend policy Minimum 70% payout ratio 5

  6. Mobile: Revenue grew with price adjustment Revenue improved from price adjustment 4G penetration continued uptrend Mobile revenue (Bt bn) 4G Penetration on total base +3.2% YoY +5.3% YoY 64.5 63% 66% +4.3% QoQ 59% 57% 54% 62.5 +4.1% 32.9 31.6 31.3 QoQ Net subscriber addition (‘000) ARPU improvement Prepaid Postpaid 2Q18 1Q19 2Q19 1H18 1H19 360 347 354 250 206 192 175 -32 Acquired 700MHz to strengthen network leadership -276 -161 2Q18 3Q18 4Q18 1Q19 2Q19 2100MHz, 900MHz, 20MHz 30MHz • Maintained strong postpaid growth driven by 700MHz License 120MHz customer demand to convert from prepaid to 20MHz 2100MHz 1800MHz, postpaid and handset campaigns. *Starting from (with TOT), 40MHz October 2020 30MHz • Prepaid softened due to seasonal churns of one- under current operation time segmented SIMs. • With 700MHz, total bandwidth equals 140MHz, largest in the industry. • 700MHz inherits a wide-coverage characteristic which will support coverage in 5G and efficient investment in 4G. 6

  7. Network quality remained superior OOKLA Throughput Speed Test Internal Drive Test Customer Perception Awarded AIS the Fastest NW for 4 years Remained most preferred Inline with external test Operator 2 4G Coverage 45% 45% 44% 99.4% 99.5% 99.6% 99.6% 99.7% 99.5% 100% 99% Operator 2 98% Operator 3 97% 4Q18 1Q19 2Q19 Operator 3 >2.5Mbps % of customers conducted the survey <2.5Mbps selecting AIS Brand as a preference (Mar - May 2019) 4G %Good Quality on LINE app 99.6% 99.6% 99.6% 99.6% 99.6% 99.6% 100% 99% Operator 2 In 2018, had 98% Operator 3 15 million samples 97% 2 million unique devices Outnumbering and more reliable 7

  8. FBB: Continued both revenue and subscriber momentum Remained double-digit revenue growth Focused on quality acquisition Beginning Net addition (‘000) Fixed broadband revenue (Bt mn) ARPU (Bt/month) subscriber (‘000) 855 610 795 573 574 563 558 60 731 677 65 623 1,380 +26% YoY 54 1,288 1,212 1,117 1,094 53 +7.1% QoQ 52 795 731 677 623 572 2Q18 3Q18 4Q18 1Q19 2Q19 2Q18 3Q18 4Q18 1Q19 2Q19 • Maintained strong revenue growth while ARPU • Gained 60.4k subscribers in 2Q19, focusing dropped 1% QoQ as part of FMC revenue is allocated on footprints in 57 key cities to mobile segment Continued to increase value via FMC • Focused on cross-selling to existing mobile customers ARPU 20% higher Power4 Maxx PACKAGE than blended ARPU • Leverage AIS shops, Telewiz, and AIS Max speed Call Center to support quality mobile SIM FMC, 29% Bt699 50/20Mbps 5GB* acquisition Bt799 100/50Mbps 10GB* Bt999 300/100Mbps 15GB* Non-FMC, 71% Of 855k subscribers *Throttled speed: 128kbps 8

  9. Digital service: Expanded strategic digital services for both enterprise and consumer Enterprise: Repositioned to be #1 service provider Strengthened engaging consumer platforms • 1 Maintained target to achieve high-single digit growth Video in FY19 for enterprise segment PLAYBOX WEBSITE AIS PLAY 2mn active users • Rebranded CSL aiming to become #1 end-to-end ICT • Available on mobile, FBB and (Jun-19) service provider website 6.0mn Focusing on data center & cloud solutions, managed services, 5.2 Registered, but not active and system integration 2 Mobile money Active 0.8 Mar-19 • Partnered to explore and expand IoT use cases in • Continued to drive subscriber selected verticals acquisition • Established an insurance • Awarded Thailand’s IoT 3 Insurance broker company to be a point Solutions Provider for of online insurance sale 2019 • 4 Targeted advertisement on Advertisement partner’s websites • Motor insurance • Cooperated with business 5 Games partners to drive the eSports industry and further monetize 9

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