ADVANC : Annual Report 2015 by ar.advanc

LIVE DIGITAL

LIVE MORE

2015 Annual Report

Advanced Info Service Public Company Limited

LIVE MORE LIVE DIGITAL

More Freedom

More Freedom with The Best Quality Network

More freedom with the best network of 3G and 4G ADVANCED covering nationwide by the end of the year and enhancing with AIS Super WiFi at a speed up to 650 Mbps.

More Excitement More Excitement with Super Hi-Speed AIS Fibre

More fun and excitement with AIS Fibre, a fixed broadband service with 100% pure fibre technology offering a speed up to 1 Gbps.

More Choice of Living More Choice of Living with more Variety of Digital Services More Choice of Living with a variety of products and services that meet all digital lifestyle through digital entertainment platform to make customers â&#x20AC;&#x153;Live Digital, Live Moreâ&#x20AC;?.

Brighter Future A Brighter Future and a Stronger Thai Society

Brighter future of Thai society through our operation with business ethics and governance focusing on sustainable development and stakeholder engagement to build a better today and sustainable future.

Message from the Chairman

006

Annual Report 2015 Advanced Info Service Public Company Limited

The year 2015 was an important landmark for AIS as we all celebrated our remarkable 30th anniversary in the telecommunications business in Thailand. As the telecommunications industry has continued to evolve over these past three decades, AIS has strived to achieve levels of excellence built on the strong foundations of technical know-how, outstanding customer service and an absolute commitment to a future whose hallmarks have always been further success and continued sustainability. Our commitment to success is reflected in our strong financial performance and stable returns to shareholders, with a net profit of Bt 39,152mn, a growth of 8.7% YoY and our consistent dividend payout policy. In the years ahead, the digital era will continue to touch all that we do. It will continue to stimulate a business and a social environment of perpetual change. With this in mind, underpinning our commitment to maintain our leading position, AIS has led this change by driving the Company forward as a Digital Life Service Provider. Keys to success are our extensive network, connecting all parts of Thailand, with 3G on 2.1GHz that was complemented by our newly - launched high speed 4G/LTE Advanced network on 1800MHz. In addition, AIS has also established a nationwide fibre optic network of 120,000 km, as well as high speed AIS Super Wifi at 650mbps to complement our wireless network. Furthermore, we deliver the very best in customer service. In 2015, in recognition of this, AIS Call Center was awarded the “Consumer Protection Thailand Call Center Awards” from the Office of the Consumer Protection Board and the ISO Management System Certification Institution of Thailand for providing subscribers with consistent and excellent standards of customer service. In this environment of change, we will continue to combine our financial readiness with a network of superior global partners to drive business opportunities for our sustainable future. Our strong working alliance with SingTel ensures the sharing of knowledge and expertise in all business operations,

while our partnership with Telewiz continues to provide an essential extra channel that brings us closer to our customers. Equally, key strategic partnership with vendors and suppliers strengthens our capacity to deliver superior 3G and 4G/LTE Advanced network in minimal time. Above all, we at AIS, recognize that our people are our most valuable asset for long-term sustainability. That is why we place the utmost emphasis on employee development and personal growth opportunities for the future. Succession plan is in place to ensure smooth transition in the ever-changing environment. We also advocate a robust culture of innovation, so that new generations of employees can create fresh ideas, guided by the experience and expertise of senior colleagues. It is also important that while we grow our success, AIS focuses on balancing growth of business, integrating with development of community, customers, business partners, employees and environment. Our commitment to this has achieved significant external recognition. In 2015, AIS was the only Thai telecommunication company selected for inclusion in the Dow Jones Sustainability Indices (DJSI) in the emerging markets category. This achievement is a recognition of our effort and collaboration at AIS, in driving the business with sustainability in mind. Moreover, I would like to welcome Khun Kan Trakulhoon and Mr. Stephen Geoffrey Miller as the newest members of the AIS Board of Directors, who will also bring AIS forward with their vision and expertise. I would also like to thank all AIS shareholders and investors for their continued support and trust. In 2015, for the fourth consecutive year, AIS was honored to receive Thailand’s Top Corporate Brand award from Chulalongkorn University with a brand value of Bt 574,029mn. I am confident that AIS remains committed to delivering real value through good corporate governance to all its shareholders, we will also continue to deliver maximum benefit to our customers,thus supporting Thailand’s economic and social growth.

Vithit Leenutaphong

Chairman of Board of Directors

Annual Report 2015 Advanced Info Service Public Company Limited

007

Message from Chief Executive Officer

008

Annual Report 2015 Advanced Info Service Public Company Limited

This year has been another challenging one for AIS both in terms of the sluggish economy and the scarcity of spectrum bandwidth that we faced. Nonetheless, AIS could maintain the revenue market share at 52% and could achieve the revenue growth of 2.2%. From my first day as CEO, I announced clearly the Company’s vision that AIS must transform to become the Digital Life Service Provider in three years by focusing on three core businesses: mobile, fixed broadband, and digital content. After one year, I learned that the vision has been being weaved through strong consolidation of all staff. For mobile business, AIS could pass a crucial year which we lacked sufficient bandwidth to service customers. However, we could turn obstacles into opportunities and be able to successfully serve our customers of more than 38 million throughout the year, particularly thanks to our engineering, marketing, and customer service teams who have enhanced further their capabilities under constraints. From the auctions last year, AIS won the 1800MHz spectrum license and decided to walk away from the 900MHz spectrum auction. Although auction results might change the telecom landscape, I would kindly say that AIS’ competitiveness hasn’t lowered but, on the other hand, has become more strategically aggressive. Currently, AIS already launched 4G service on the 1800MHz in the first quarter of 2016 which will cover all major cities within first half of 2016. Also, we will keep expanding 3G on the 2100MHz to attract new data users, and fully take care of our remaining 2G customers by persuading them to use 3G service. In addition, partnering with TOT will bring advantage to the Company in accessing to the limited resources. The partnerships will involve the utilization of 2100MHz to service both AIS and TOT customers, the resolution of tower dispute for continuous service deployment, and also the renting of transferred equipment. I assure you that management will reasonably consider each agreement and emphasize on the investment for the long term.

Another step for future growth initiated from our start of the fixed broadband business. AIS has entered the market with our nationwide fibre optics to provide FTTx technology which is proper for today’s data consumption. We are currently serving 44,000 customers with a wide coverage of more than 1.7 million homepasses. In 2016, AIS will lead a change of how the fixed broadband business is being perceived. We will inject more capital and human resource to build a coverage of 6.5 million homepasses in 24 provinces and offer bundling packages with mobile. This is to ensure that we command a significant market share in 3 years. Moreover, AIS has been focusing on developing new digital contents and applications to respond to customer’s need in this digital era. I am continuing to support the occurrence of telecom ecosystem which binds the potential of AIS and talented partners to create new products at customer’s convenience. I believe that doing business in this way will help both AIS and partners to grow sustainably. That said, we are developing digital contents in five areas: video, game, mobile banking, cloud, and M2M. Several achievements were recognized this year. For instance, we partnered with CIMB and KBANK to uplift mobile banking service as well as we joined with HOOQ, a company invested by Singtel, to provide Hollywood blockbusters to customers through AIS PLAYBOX. In 2016, from the launch of 4G service, AIS will focus on higher data usage generated from our differentiated video contents on mobile and further provide digital convergence services to customers. Last but not least, this year AIS was selected to be an index component on the Dow Jones Sustainability Indices (DJSI), a global index, in the area of emerging markets. This recognition truly reflected the perseverance of every part in the Company and the trustworthiness we received from you, who are both our clients and shareholders. As AIS’ CEO, I fully commit to driving AIS into the 26th year with stability, to creating generous and long-term returns, and to becoming the most admired “Digital Life Service Provider.”

Somchai Lertsutiwong Chief Executive Officer

Annual Report 2015 Advanced Info Service Public Company Limited

009

Operational Highlights Mobile Continued to be number mobile operator in Thailand

Provide 3G service on 2100MHz network Launched 4G service on 1800MHz in January 2016 Continue investing on network for highest efficiency

Revenue market share

52 %

covered

million numbers

Smartphone penetration grew at a fast pace, driven by success of AIS LAVA

26%

38%

2013

2014

27,200 3G base

more than

Serving more than

98%

Mobile data (VOU) usage increased 3.5x in 2 years

59% 2015

0.6

1.6

2013

2014

Fixed Broadband Launched Internet Broadband Service (FBB) with FTTx Technology Covered 12 strategic provinces

stations

of population

2.1 (GB / sub / month)

2015

Digital Contents Expand into digital contents focusing on 5 core elements Game

Cloud

1,700,000

Home

mPAY as of 2015

with sustainability

010

Video

M2M

Passes moving AIS forward as a mobile operator

DIGITAL CONTENTS

more streaming videos and movies

Mobile Banking

(Machine to Machine)

with more than 400k active users

First Thai telco selected to be in DJSI 2015 for emerging markets.

Annual Report 2015 Advanced Info Service Public Company Limited

Financial Highlights Service revenue grew by 2.2% amid subdued economy

Service revenue (THB mn)

Lower regulatory fee on license helped enhance EBITDA Sustained proper investment to deliver quality network

116,556

117,990

120,621

2013

2014

2015

EBITDA (THB mn) 63,691

66,428

70,776

2013

2014

2015

Capex (THB mn) 28,460

32,562

Net debt/EBITDA (times)

32,255

0.28

0.70

0.14

2013

2014

2015

2013

2014

2015

Net profit (THB mn) 36,274

2013

Net profit grew by 8.7% supported by lower D&A Continued 100% dividend payout of net profit

Annual Report 2015 Advanced Info Service Public Company Limited

36,033

2014

Strong financial position despite new license

39,152

2015 Dividend (THB/share)

12.15

12.00

2013

2014

12.99

2015

011

Vision To lead and shape the multi-media communications market in Thailand and aspire to become the most-admired Digital Life Service Provider.

Mission t ¦´ ²¾¼¼¸Ã Ã¾ ³´»¸Å´Á ÂÄ¿´Á¸¾Á °½³ ¸½½¾Å°Ã¸Å´ services that can add value and enhance peoples’ daily lives along with business capabilities. t ¦´ ²¾¼¼¸Ã Ã¾ ´½·°½²´ ÄÂÃ¾¼´Á ½Ã¸¼°²È Ã·Á¾Ä¶· the best customer experience. t ¦´ ²¾¼¼¸Ã Ã¾ ³Á¸Å´ ¸½ÃÁ°¿Á´½´ÄÁÂ·¸¿ °»¾½¶ Æ¸Ã· a professional and lively work culture for all our employees. t ¦´ ²¾¼¼¸Ã Ã¾ ´½·°½²´ Å°»Ä´ µ¾Á ¾ÄÁ ÂÃ°º´·¾»³´ÁÂ through Sustainable Development and creating value to society through Creating Shared Value (CSV).

012

Annual Report 2015 Advanced Info Service Public Company Limited

Dividend Policy The Company aims to pay dividend at least 100% of net profit twice a year. The first of which shall be paid as interim as a result of operation during the first half of the year as approved by the Board of Directors and will be reported to the next general meeting of shareholders whereas the remaining thereof as annual payment which shall be approved by shareholdersâ&#x20AC;&#x2122; meeting as a result of operation in the second half year.

As regards each subsidiary, dividend payment shall be based upon its operating results, financial conditions and other material factors. In all cases, dividend payment shall be depending on cash flow, investment plan including any other future obligations of the Company and/or subsidiaries. Such dividend shall not exceed the retained earnings of the Company financial statements nor adversely affect the Company and subsidiaries ongoing operations. Baht per share

Historical dividend in 5 consecutive years is as follows: Historical Dividend

Total Dividend Payment (Baht per share) 1. Interim Dividend 2. Annual Dividend 3. Special Dividend Dividend Payout Ratio

Annual Report 2015 Advanced Info Service Public Company Limited

2011

2012

2013

2014

2015

8.43 4.17 4.26 -

10.90 5.90 5.00 -

12.15 6.40 5.75 -

12.00 6.04 5.96 -

12.99 6.50 6.49 -

113%

93%

99.58% 99.01%

98.64%

013

Business Overview

014

Annual Report 2015 Advanced Info Service Public Company Limited

Business Overview Advanced Info Service Plc. (AIS) is transforming itself to become the “Digital Life Service Provider” by operating three core businesses: mobile, fixed broadband, and digital content. At present, AIS is the leading mobile operator in Thailand who commands 52% of market share by revenue and serving 38.5 million subscribers nationwide. The Company had been providing 2G service on 900MHz network under concession with TOT which ended in September 2015 and is being continued under the remedy period until further notice from the National Broadcasting and Telecommunication Commission (NBTC). The 3G network with nationwide coverage is operated on the 2.1GHz license, valid until 2027, granted by the NBTC in December 2012. Moreover, the Company has also launched 4G network in January 2016 on the 1.8GHz license, valid until 2033, granted by the NBTC in November 2015. Mobile services currently provided include domestic mobile services, International Direct Dialing (IDD) services, and international roaming services.

As the “always - connected” behavior of customers has become significant, AIS made a clear decision to commence the fixed broadband business in April 2015 under the brand “AIS Fibre”. With an ability to leverage the extensive fiber optic network nationwide, we can provide the new technology of FTTx service to households. In the first year of operation, AIS Fibre already achieved 1.7 million homepasses with 44,000 households as our customers. We aim to gain significant market share in this market in three years driven by our strong brand and currently low fixed broadband market penetration. To stay in an advanced position in the digital era, AIS is officially driving the digital content business by creating a telecom ecosystem among talented partners. Our focus is on five key areas namely video, game, mobile banking, cloud, and M2M, all of which will provide convenience to customers and generate new sources of revenues rather than voice minutes and megabytes from usual data consumption.

Three Core Businesses

Digital Content

Fixed Broadband

DIGITAL LIFE SERVICE PROVIDER

Mobile

Annual Report 2015 Advanced Info Service Public Company Limited

015

Key Milestone in 2015 Strategy and Overall Business w -DQXDU\ AIS announced AIS vision for 2015, by introducing the concept of “LIVE Digital, LIVE More” with the aim of empowering the Thai people and the country to reap the benefits of living digitally in the age of the digital economy. The vision included the goal of becoming creators of digital services for Thais as “Your Digital Life Partners.” This goal covers the development of both the relevant infrastructure and digital services as part of a make - over of the Company’s image into a digital partner for every group of AIS customers. w -XQH AIS launched its “Co-Location” services Mobile Business which feature space rental complete with environmentally w )HEUXDU\ AIS joined hands with Thaicom in expanding its mobile phone network to customers friendly standard infrastructure for the installation of working on the offshore oil production platforms in the computer and network equipment. These service Gulf of Thailand. This is the first time in Thailand that a include a wide range of facilities designed to technological innovation in communications via a mobile completely meet UPTIME INSTITUTE and TIA - 942 phone network was used with a satellite communications standards so that our corporate and SME customers can system to provide mobile communication services to efficiently minimize IT support system preparation and customers working at offshore facilities. management costs while maintaining maximum safety. w 0DUFK AIS signed a memorandum of understanding with Kasikornbank PCL for the co - development of a new innovation in financial services by upgrading their Mobile Banking and Mobile Commerce Systems. These upgrades will help improve the quality of life for our customers and will help generate economic growth and business competition at the regional and global levels. w 0DUFK AIS launched its “AIS SUPER WiFi” services by offering high-speed wireless internet services at a maximum speed of 650 Mbps, which is faster than 4G. This service provision was initially launched at popular department stores, leading movie theaters, w -XQH AIS was awarded ISO/IEC 27001 : 2013 for community malls and all McDonalds restaurants, in IT security management by Bureau Veritas Certification addition to leading chain stores nationwide. (Thailand) Ltd. and UKAS (The United Kingdom Accreditation Service). This certification recognizes our w $SULO AIS launched “iSWOP,” an innovative signal package to meet the changing needs of our monthly upgrades in secure information management for AIS subscription customers by allowing them to switch data centers and assures our corporate customers of between internet and call services as needed. AIS is the our service provision capacities. first company in the world to offer this service. w 6HSWHPEHU AIS was selected as a member of DJSI Emerging Markets. AIS is the first telecommunication w 0D\ $,6 ODXQFKHG LWV u$,6 /,9( Ë v FDPSDLJQ by offering special privileges to our customers in the form service operators in Thailand who was selected. of discounts at over 12,000 leading brand name stores nationwide for 365 days.

016

Annual Report 2015 Advanced Info Service Public Company Limited

w -XO\ AIS â&#x20AC;&#x153;One-2-Callâ&#x20AC;? launched its â&#x20AC;&#x153;Hello Asia SIM,â&#x20AC;? a top-up SIM for our international customers from Cambodia, China, Japan, Laos, Myanmar, and South Korea who live and work in Thailand. This new SIM card comes with automated message services in all six languages. w 6HSWHPEHU AIS joined with Tune Insurance to create a new dimension in automatic cross - border services by offering free insurance privileges with maximum coverage of 300,000 Baht for customers who sign up Fixed Broadband w $SULO AIS launched the â&#x20AC;&#x153;AIS Fibreâ&#x20AC;? broadband and use any AIS roaming package. home internet service with 1 Gbps speed as the first and w 6HSWHPEHU AIS launched its first 4G mobile only full-scale PURE Fibre service provider. In addition, phone with the release of its â&#x20AC;&#x153;AG SUPER COMBO LAVA a package that includes entertainment from the A1â&#x20AC;? at the price only 4,590 Baht in order to provide more AIS PLAYBOX was also introduced. accessibility opportunities for our customers in all income w -XO\ AIS Fibre joined hands with Property Perfect in brackets. the co-development of a â&#x20AC;&#x153;Perfect Digital Villageâ&#x20AC;? powered by AIS Fibre. This will be the first and only digital village in Thailand, and will offer 100% access to the highest broadband technology via AIS Fibre.

w 1RYHPEHU AIS opened its eighth AIS Call Center for the disabled at Sri Sangwan School in Khon Kaen by designing the facility to promote the types of work able to be performed by persons with certain disabilities. These staff members enjoy standardized employment provisions at the same level as regular employees. As a result, AIS currently employs 78 disabled call center staff. w 1RYHPEHU AWN, a wholly owned subsidiary of AIS, was granted an 1800MHz license covering 1725 -1740MHz paring to 1820-1835MHz from the Office of the National Broadcasting and Telecommunications Commission (NBTC). As of January 2016, AWN is ready to provide 4G service with 7,000 locations nationwide.

Annual Report 2015 Advanced Info Service Public Company Limited

Digital Content w -XO\ AIS opened its fifth annual â&#x20AC;&#x153;AIS the StartUPâ&#x20AC;? conference where new entrepreneurs join together with AIS at a forum for thinkers, creators and small entrepreneurs who present new concepts and products in a series of competitions for development and launch support. AIS together with our Thai and international partners select the most innovative works and assist them in accessing our more than 500 million customers around the region. w 6HSWHPEHU AIS upgraded â&#x20AC;&#x153;AIS mPAYâ&#x20AC;? and rebranded it as â&#x20AC;&#x153;Digital Money of Everyoneâ&#x20AC;? by creating an all-in-one application available to every mobile phone user, regardless of service provider, in order to allow easier access to the growing e-commerce market.

017

Awards and Recognition in 2015 Trusted Brand Awards

u6XSHUEUDQGV v Received for being a brand that is accepted and trusted among its customers. This is the twelve consecutive year AIS has won this award and we are the only Thai Telecommunication operator to receive this honor.

u7KDLODQGtV 7RS &RUSRUDWH %UDQGV v Received for being the company with the highest brand value in the information technology and telecommunications business from the Faculty of Commerce and Accounting at Chulalongkorn University.

Excellence in Management and Performance Awards

u&)2 ([FHOOHQFH $ZDUG v Received this honor for the u2XWVWDQGLQJ 0HGLD v Awarded by the Thai Catholic last six consecutive years from the Investment Analysts Media for the commercial, â&#x20AC;&#x153;Always There,â&#x20AC;? created to build confidence in the AIS brand with customers and to reaffirm Association (IAA Award 2015). the AIS commitment to meeting its customersâ&#x20AC;&#x2122; needs and u7KDLODQG 7HOHFRP 6HUYLFH 3URYLGHU RI WKH <HDUv u7KDLODQG to network and service development. 0RELOH 6HUYLFH 3URYLGHU RI WKH <HDUv DQG u7KDLODQG 'DWD 6HUYLFH 3URYLGHU RI WKH <HDUv 2015 is the four consecutive u%HVW &RPSDQ\ v Received for the last six consecutive year AIS has won this honor from Frost and Sullivan, a world- years and u%HVW &RPSDQ\ LQ 7HFKQRORJ\v received class leader in marketing research and investment consulting. during each of the last three years. These awards are given to publically listed companies with excellent management u6XSHU 6WRFN v Awarded by the Stock Exchange of capacity, outstanding performance, and the ability to Thailand and the Money Channel for being a listed companies recognize consistent profit and high stockholder returns on that consistently offers excellent returns on investments and investments. dividend payments to its shareholders. AIS won this award by growing its business through good governance during u/,9( ,QQRYDWLYH $ZDUG v Received for the best campaigns featuring new innovations to meet the needs of the past eleven years. mobile phone users in the digital age from the Asia Pacific Customer Service Consortium. 018

Annual Report 2015 Advanced Info Service Public Company Limited

u&RQVXPHU 3URWHFWLRQ 7KDLODQG &DOO &HQWHU $ZDUGVv Awarded to AIS Call Centers for providing its customers with quality and efficient problem solving service from the Office of the Consumer Protection Board and the ISO Management System Certification Thailand.

u7KH %HVW 6RFLDO 0HGLD 3URJUDPv Received for operating call centers that offer the best social media services with the fastest response time and highest quality service from the Asia Pacific Customer Service Consortium.

u2XWVWDQGLQJ ,QYHVWRU 5HODWLRQV $ZDUGV v Awarded u&RUSRUDWH ,PSURYHPHQW ([FHOOHQFHv DQG u2XWVWDQGLQJv for each of the last five consecutive years for excellence in achievement awards in five other categories: financial investor relations by the Stock Exchange of Thailand as one management, innovations and creativity, products and of its 2015 SET Awards. services, marketing and CSR at the â&#x20AC;&#x153;Thailand Corporate Excellence Awards 2015â&#x20AC;? hosted by the Thai Management Association (TMA) in cooperation with the Sasin Graduate Institute of Business Administration of Chulalongkorn University. Sustainable Development Awards

u7KDLODQG 6XVWDLQDELOLW\ ,QYHVWPHQW v Awarded by the Stock Exchange of Thailand to corporations with sustainable business operations that result in the offering of high quality shares and membership in the international Dow Jones Sustainability Indices (DJSI) u$6($1 &RUSRUDWH *RYHUQDQFH v Awarded by the ASEAN CAPITAL MARKETS FORUM as one of the top 100 ASEAN companies in terms of market value and good governance business practices that meet or exceed ASEAN standards (ASEAN CG Scoreboard). u2XWVWDGLQJ 6XVWDLQDELOLW\ 5HSRUW v Awarded by the CSR Club of the Thai Listed Companies Association with the cooperation of the Office of the Securities and Exchange Commission and Thaipat Institute for producing a report to communicate the sustainable development activities carried out by AIS communicate with all stakeholders in order to keep them informed that our performance meet their expectations in the areas of economics, society and the environment. Annual Report 2015 Advanced Info Service Public Company Limited

u7RS &65 $GYRFDWHV LQ $VLD v Awarded at the Asia Corporate Excellence & Sustainability Awards (ACES) in Singapore, which recognizes corporations with active CSR policies and participation of executives and employees in community, environmental, and social empowerment activities. u%HVW (PSOR\HU 7KDLODQG v Received for each of the last three years from Aon Hewitt and Sasin Graduate Institute of Business Administration of Chulalongkorn University and awarded u%HVW RI WKH %HVW v to the Advance Contact Center.

019

Investment Structure of Advanced Info Service Plc. ³Å°½²´³ ½µ¾ ¢´ÁÅ¸²´ »² °·Ã æ æ ¸»»¸¾½ ¡´¶¸ÂÃ´Á´³ °¿¸Ã°» °½³ °·Ã ä å ã ¸»»¸¾½ °¸³ ¤¿ °¿¸Ã°»

99.99%

³Å°½²´³ ¾½Ã°²Ã ´½Ã´Á ¾ Ã³

³Å°½²´³ ¨ ¾ Ã³ ³Å°½²´³ °¶¸² °Á³

¾ Ã³

»¾±°» ¾¼¼ ¾ Ã³

Call center service

Service provider of electronic payment and cash card

Distributor of cash card business

International telephone service gateway

Baht 250 million paid-up capital

Baht 200 million registered capital and Baht 100 million paid-up capital

Baht 272 million paid-up capital

Baht 300 million paid-up capital

98.55%

99.99%

¸¶¸Ã°» ·¾½´ ¾ Ã³ Service provider of digital mobile phone network

Baht 3,655.47 million paid-up capital

³Å°½²´³ ¦¸Á´»´ÂÂ ´ÃÆ¾Áº ¾ Ã³

51.00%1)

³Å°½²´³ °Ã°½´ÃÆ¾Áº ¾¼¼Ä½¸²°Ã¸¾½Â ¾ Ã³ Service provider of online data communication service via telephone landlines and optical fiber

Telecommunication service provider of 2.1GHz and 1800MHz license, distributor of handsets, international telephone service, network operator, telecom service operator and national broadcasting network services.

Baht 1,350 million paid-up capital

Baht 957.52 million paid-up capital Notes : 1) The remaining 49% of shares, holding by person who has not conflict of interest. 2) The dissolution of Advanced Internet Revolution Co., Ltd. (AIR) is now finished. 3) In 15 July 2015, ABN has paid the last installment in IH which increased IH’s paid - up capital to Baht 14.5 million.

020

Annual Report 2015 Advanced Info Service Public Company Limited

+5Â?Ă&#x201A; ÂžÂľ ĂĽĂŁ Â&#x201C;Â´Â˛Â´ÂźÂąÂ´Ă Ă¤Â&#x201E;ĂŁĂ§ 9I Â&#x2021; % '6 % Ă¤Ă§Ă§Â&#x2C6;

99.99%

Â˘Ă&#x201E;ÂżÂ´Ă Â&#x2018;Ă ÂžÂ°ÂłÂąÂ°Â˝Âł Â?Â´Ă&#x192;Ă&#x2020;ÂžĂ Âş Â&#x2019;ÂžÂ&#x201A;Â&#x20AC; Â&#x203A;Ă&#x192;ÂłÂ&#x201A;

ÂŚÂ¸Ă Â´ÂťÂ´Ă&#x201A;Ă&#x201A; Â&#x201C;Â´Ă&#x2026;Â¸Â˛Â´ Â˘Ă&#x201E;ÂżÂżÂťĂ&#x2C6; Â?ÂłĂ&#x2026;Â°Â˝Â˛Â´Âł Â&#x2018;Ă ÂžÂ°ÂłÂąÂ°Â˝Âł Â&#x2019;ÂžÂ&#x201A;Â&#x20AC; Â&#x203A;Ă&#x192;ÂłÂ&#x201A; Â?Â´Ă&#x192;Ă&#x2020;ÂžĂ Âş Â&#x2019;ÂžÂ&#x201A;Â&#x20AC; Â&#x203A;Ă&#x192;ÂłÂ&#x201A;

Network operator and telecom service operator i.e. internet (ISP), international & national internet gateway, International Private Leased Circuit (IPLC), Internet Protocol Virtual Private Network (IP VPN), voice over IP, and IP Television

Importer and distributor of handset and accessories

Baht 50 million paid-up capital

Currently not start the operation

Baht 15 million paid-up capital

Â&#x2DC;Â˝ÂľÂžĂ ÂźÂ°Ă&#x192;Â¸ÂžÂ˝ Â&#x2014;Â¸ÂśÂˇĂ&#x2020;Â°Ă&#x2C6; Â&#x2019;ÂžÂ&#x201A;Â&#x20AC; Â&#x203A;Ă&#x192;ÂłÂ&#x201A; Transmission network provider

Baht 50 million registered capital Baht 14.5 million3) paid-up capital

Baht 300 million paid-up capital

99.99%

29.00%

99.98%

Â&#x153;Â&#x2DC;Â&#x153;Â&#x17E; ÂŁÂ´Â˛Âˇ Â&#x2019;ÂžÂ&#x201A;Â&#x20AC; Â&#x203A;Ă&#x192;ÂłÂ&#x201A;

Â&#x2022;Â°Ă&#x2021; Â&#x203A;Â¸Ă&#x192;Â´ Â&#x2019;ÂžÂ&#x201A;Â&#x20AC; Â&#x203A;Ă&#x192;ÂłÂ&#x201A;

Operate IT, and content aggregator businesses and outsourcing service for billing and collection

Operate in acquiring and/or lease building, and related facilities for telecommunication business

Baht 50 million paid-up capital

Baht 1 million paid-up capital

Annual Report 2015 Advanced Info Service Public Company Limited

20.00%

Â&#x2019;ÂťÂ´Â°Ă Â¸Â˝Âś Â&#x2014;ÂžĂ&#x201E;Ă&#x201A;Â´ ÂľÂžĂ Â?Ă&#x201E;ÂźÂąÂ´Ă Â&#x;ÂžĂ Ă&#x192;Â°ÂąÂ¸ÂťÂ¸Ă&#x192;Ă&#x2C6; Â&#x2019;ÂžÂ&#x201A;Â&#x20AC; Â&#x203A;Ă&#x192;ÂłÂ&#x201A;

10.00% Â&#x2018;Ă Â¸ÂłÂśÂ´ Â&#x153;ÂžÂąÂ¸ÂťÂ´ Â&#x;Ă&#x192;Â´Â&#x201A; Â&#x203A;Ă&#x192;ÂłÂ&#x201A;

Jointly invested, operate the information system and the centralized database for the mobile number portability service

Jointly invested, provide international roaming service (incorporated in Singapore)

Baht 2 million paid-up capital

USD 9 million paid-up capital

021

INTOUCH Group’s Investment Structure Intouch Holdings Plc 1), 2) Advanced Info Service Plc 2)

æ æçy

Thaicom Plc 2)

Satellite Services Advanced Wireless Network Co., Ltd.

99.99%

IPSTAR Co., Ltd.

100%

Wireless Device Supply Co., Ltd.

99.99%

IPSTAR New Zealand Ltd.

100%

Advanced Contact Center Co., Ltd.

99.99%

IPSTAR Australia Pty Ltd.

100%

Advanced MPAY Co., Ltd.

99.99%

Advanced Magic Card Co., Ltd.

99.99%

IPSTAR International Pte. Ltd.

100%

AIN GlobalComm Co., Ltd.

99.99%

IPSTAR Global Services Co., Ltd.

100%

Super Broadband Network Co., Ltd.

99.99%

IPSTAR Japan Co., Ltd.

100%

MIMO Tech Co., Ltd.

99.99%

Star Nucleus Co., Ltd.

100%

Fax Lite Co., Ltd.

99.98%

Spacecode LLC

70.00%

TC Broadcasting Co., Ltd.

99.99%

Advanced Broadband Network Co., Ltd. 99.99% Information Highway Co., Ltd. Digital Phone Co., Ltd. Advanced Datanetwork Communications Co., Ltd.

29.00%

Shenington Investments Pte Ltd.1)

51.00%

Lao Telecommunications Co., Ltd. 49.00%

Orion Satellite Systems Pty Ltd. 100%

International Satellite Co., Ltd.

100%

98.55% 51.00%

Clearing House for Number Portability Co., Ltd.

20.00%

Bridge Mobile Pte. Ltd.

10.00%

Wireless Telecommunication Businesses

022

Telephone Services Abroad

Satellite and International Businesses

Annual Report 2015 Advanced Info Service Public Company Limited

Â?Ă&#x201A; ÂžÂľ Â&#x2021; Â&#x2122;Â°Â˝Ă&#x201E;Â°Ă Ă&#x2C6; Ă¤Â&#x201E;ĂŁÂ&#x2026; +5 9 I Â&#x2021; % '6 % Ă¤Ă§Ă§Â&#x2C6; 41.14% Internet and Media Services DTV Service Co., Ltd.

99.99%

CS LoxInfo Plc2)

42.07%

Meditech Solution Co., Ltd. 24.00%

I.T. Applications and Services Co., Ltd.

99.99%

Ookbee Co., Ltd.

22.26%

Intouch Media Co., Ltd.

99.99%

Golfdigg Co., Ltd.

25.00%

Touch TV Co., Ltd.

99.99%

High Shopping Co., Ltd.

51.00%

Teleinfo Media Plc

99.99%

Sinoze Co., Ltd.

16.67%

AD Venture Plc

99.99%

Playbasis Pte. Ltd.

15.36%

Cambodian DTV Network Ltd.

High Shopping TV Co., Ltd. 99.99% Joint Venture Kantana and Intouch

100%

50.00%

Matchbox Co., Ltd.3)

99.99%

ITV Plc 3)

52.92%

Artware Media Co., Ltd.3)

99.99%

Notes : 1) Holding Company 2) Listed Company on the Stock Exchange of Thailand 3) Currently not in operation. Other Businesses Venture Capital

Annual Report 2015 Advanced Info Service Public Company Limited

Others

023

Top Ten Shareholders Top Ten Shareholders As of 17 August 2015, the latest book closing date for the right to receive dividend, are as follow: No.

Name

1 2 3 4 5 6 7 8 9 10

INTOUCH HOLDINGS PLC SINGTEL STRATEGIC INVESTMENTS PTE LTD2) THAI NVDR CO., LTD. CHASE NOMINEE LIMITED LITTLEDOWN NOMINEES LIMITED STATE STREET BANK EUROPE LIMITED THE BANK OF NEW YORK MELLON HSBC (SINGAPORE) NOMINEES PTE LTD THE BANK OF NEW YORK (NOMINEES) LIMITED SOCIAL SECURITY OFFICE (2 CASES)

1,202,712,000 693,359,000 163,637,136 84,654,222 52,503,800 50,034,810 44,570,900 44,434,037 30,381,287 26,570,900

40.45 23.32 5.50 2.85 1.77 1.68 1.50 1.49 1.02 0.89

7RWDO

No. of shares held

% of shareholding

Note : 1) Information from Thailand Securities Depository Company Limited 2) On 8 January 2016, SINGTEL STRATEGIC INVESTMENTS PTE LTD currently transfer its 0.01% shared which is previously hold by OCBC NOMINEE to be held directly under SINGTEL STRATEGIC INVESTMENTS PTE LTD.

0DMRU VKDUHKROGHU ZKRVH EHKDYLRU FDQ LQIOXHQFH ZKHQ GHWHUPLQLQJ SROLF\ RU KDQGOLQJ RSHUDWLRQ DUH 1. Intouch Holdings Plc., major shareholders of Intouch Holdings Plc. as follows: Name

No. of shares held

Aspen Holdings Ltd.1)

% of shareholding

1,334,354,8252)

41.62

1) On the list of shareholders provided by the Department of Business Development, Ministry of Commerce, information as of 5 January 2016, Aspen Holdings Limited is a company incorporated in Thailand and 99.99% owned by Anderton Investments Pte Ltd., Singapore. 2) Shareholding as of 27 August 2015, the latest book closing date

2. Singtel Strategic Investments Pte Ltd holds 23.32% directly in AIS. The shareholder of Singtel Strategic Investments Pte Ltd is Name

Singtel Asian Investments Pte Ltd *

% of shareholding

100.00

* Singtel Asian Investments Pte Ltd is 100% hold by Singapore Telecommunication Limited (Source: Accounting and Corporate Regulatory Authority (ARCA), Singapore as of 26 January 2016)

$JUHHPHQWV EHWZHHQ PDMRU VKDUHKROGHUV DQG WKH &RPSDQ\ FRQFHUQLQJ WRSLFV ZKLFK DIIHFW WKH LVVXDQFH RI VHFXULWLHV RU PDQDJHPHQW RI WKH &RPSDQ\tV RSHUDWLRQV - None -

024

Annual Report 2015 Advanced Info Service Public Company Limited

Revenue Structure Revenue structure from providing service & sales income in AIS group to the third party within 3 years % Holding 2013 2014 2015 of shares as at Million Baht % Size Million Baht % Size Million Baht % Size 31 Dec 15

Operation By

Service/Product

0RELOH SKRQH VHUYLFH - Mobile phone services & rental and call center services

Advanced Info Services Plc. Advanced Wireless Network Co., Ltd. Digital Phone Co., Ltd. AIN Globalcomm Co., Ltd. Advanced MPAY Co., Ltd. Fax Lite Co., Ltd. Advanced Contact Center Co., Ltd. - Construction income from Advanced Info Services Plc. the Agreements for operation Digital Phone Co., Ltd.

99.99 98.55 99.99 99.99 99.98 99.99 98.55

66.08 26,708.27 17.88 7,466.95 4.81 15.42 94,478.94 63.27 117,370.25 75.60 0.29 27.19 0.02 3.69 2.30 2,873.93 1.92 1,272.30 0.82 0.21 368.75 0.25 224.59 0.14 30.37 0.02 3.90 3.52 2.42 600.26 0.40 63.59 0.04 0.08 - -

6XE WRWDO 0RELOH SKRQH VDOHV

99,504.58 23,216.54 441.47 3,455.66 309.55 4.94 3,639.60 126.84

Advanced Info Services Plc. Advanced Wireless Network Co., Ltd. Wireless Device Supply Co., Ltd.

99.99 99.99

6XE WRWDO 51.00

155.43 0.10

24.40 0.02

99.99 99.99 99.99

416.31 0.28 192.38 0.13

786.18 0.53 42.96 0.03

'DWD QHWZRUN DQG EURDGEDQG Advanced Datanetwork Communication Co., Ltd.1) VHUYLFH Super Broadband Network Co., Ltd. Advanced Wireless Network Co., Ltd. Advanced Internet Revolution Co., Ltd.2) 6XE WRWDO *UDQG 7RWDO

516.32 0.34 8.38 0.01 0.19 3,484.89 2.31 15,877.15 10.63 23,736.29 15.29 15,113.31 10.04 7,528.74 5.04 4,090.35 2.63

3.60

883.63 0.57 127.12 0.08 - -

Remarks : 1) Advanced Datanetwork Communication Co., Ltd is an indirect subsidiary. 2) On 19 October 2015, Advanced Internet Revolution Co., Ltd. completed the process of liquidation.

Annual Report 2015 Advanced Info Service Public Company Limited

025

Industry Condition and Competition in 2015 and Trend in 2016 Mobile Phone Business

In 2015, our mobile phone business grew due to higher use of data and internet in the daily lives of our customers. The primary reasons for growth also included the rapid increase in social network use, more variety in our value price plans, and the release of less expensive smartphones to encourage customers to switch from feature phones. Today, smartphones are an important tool for expanding our customer base, maintaining our existing customers, and driving revenue from data usage. All operators are geared towards offering both international and domestic branding phones to their customers. AIS has also been successful in selling our AIS LAVA smartphones, which became the top choice phone available under Baht 3,000. The ‘Super Combo’ campaign for prepaid customers and the ‘Super Deal’ for postpaid customers were popular because they provided quality products at an affordable price together with good value operating packages for our customers. The main strategy used by mobile operators in 2015 was to focus on handsets. Customers were attracted to mobile phones that were given away when they applied for specific package plans. AIS adopted this strategy with the main objective being to transition 2G customers to the 3G network because the 3G network gives a better quality experience with faster internet. In addition, the 900MHz concession on which the 2G network operates expired in 2015. It had a higher cost when compared to the license scheme of 2.1GHz. Relatively cheaper price plans on 3G also stimulated the transition from 2G operated under concession. The migration of 2G customers to our 3G network was well accepted. As of the expiry date of the 900MHz concession on 30 September 2015, 2G subscribers were at 1.9 million and most of them generated low ARPU and were in remote locations. The AIS handset trade-in campaign was led by AIS LAVA phones. When AIS customers brought their old 2G phones to our shops and agents, they could trade them in for a new 3G phone for free or buy a better 3G smartphone at a special price. The campaign was popular among AIS customers due to the quality products being offered and our after-sales service. Our competitors spent heavily on marketing campaigns to promote their 4G services and sell 4G handsets, aiming to lead in 4G access. AIS fell behind them in providing 4G services due to a lack of spectrum, which impacted consumer 026

perception and service quality in some dense areas. Realizing this early on, AIS continued to improve our 3G network as well as preparing for 4G service in the following ways: 1. By the end of 2015, there were 27,200 3G base stations on the 2.1 GHz network, covering more than 98% of the population as we continued to expand 3G access. 2. AIS WiFi and AIS Super WiFi access points were added in densely populated areas throughout Thailand in order to maintain customer satisfaction with our data speed, which was equal to or exceeded that offered on our competitors’ 4G platforms. 3. 4G phones at value prices are being offered to support 4G service in 2016. Apart from industry competition, our mobile phone business was also affected by many external factors, such as lower-than-expected economic recovery and a household debt to GDP ratio exceeding 80%. These figures impacted consumer purchasing power, resulting in a decrease of both new customers and usage spending of existing customers as compared to a year ago. Moreover, the NBTC announcement of a new regulation on SIM card registration required all prepaid customers to register their numbers; otherwise, their number would be suspended. This resulted in 10.8 million prepaid numbers of all operators being deleted from the system. This regulation also helped eliminate inactive numbers, which has resulted in the more efficient management of numbers and a more secure customer database.

Industry Conditions and Competition 2016 Outlook

In 2016, it is expected that the mobile business overall will see growth in data services, especially after the launch of the 4G network under the 1800MHz licenses auctioned in November 2015. Positive prospects of the mobile market in 2016 are as follows: 1. Demand for internet usage should increase due to a more digital consumer lifestyle. Consumers are demanding an “always - on” connection for social media, email, games, movies, and other entertainment. 2. Smartphones should be more affordable, increasing the number of smartphone users. 3. Other services relating to online communication will expand because they will be easier to access through smartphones and tablets, namely: Annual Report 2015 Advanced Info Service Public Company Limited

w ( FRPPHUFH DQG P FRPPHUFH VKRXOG LQFUHDVH in popularity among online sellers. This channel can increase revenue as it is more convenient and easier to view merchandises, compare prices and promotions, and make purchases in this way. w &RQWHQW VHUYLFHV VKRXOG JURZ EHFDXVH FRQVXPHUV expect better content from developers. Exclusive content through partnerships with domestic and international developers, such as English Premiere League, will attract new consumers. w &ORXG VWRUDJH LV H[SHFWHG WR EH PRUH SRSXODU because consumers tend to have more photos, videos and other media content. Cloud storage can help when the memory on a mobile device is not enough for a consumer. w 1HZ DSSOLFDWLRQV VKRXOG EH GHYHORSHG ERWK IUHH DQG paid, to respond to the lifestyle of a new generation with digital demands in terms of entertainment, social media, health, finance, etc. 4. Convergence services, which combine mobile, broadband internet and entertainment, should be more popular because consumers can access a single package through multiple devices. 5. The expected economic recovery in 2016 will likely be driven by public sector investment in infrastructure megaprojects, stimulus for low income citizens, and the recovery of domestic and overseas demand for Thai goods. These drivers should increase private sector investor confidence and foster greater consumer purchasing power. 6. Increased ease of mobility for over 600 million people in the ASEAN region will help facilitate commerce, investment, and travel among member countries and promote inter-ASEAN businesses, including those in the telecom industry.

to live-streaming and high definition videos, which require high speed data transfer. 3. Over-the-Top (OTT) services will play a more important role as a substitute product that consumers will use for interacting through pictures, audio messages and video via the internet. Applications such as LINE and Whatsapp will be more popular and cause a decrease in standard SMS usage. 4. Regulations from the government or telecom regulators might cause limitations in terms of pricing or service quality. 5. Uncertainties in politics and other issues, such as drought, would affect economic growth and consumer spending directly. AIS has prepared for future situations by differentiating itself from its competitors in terms of network quality, customer service, and the development of new applications. Although our current spectra are sufficient for servicing customers, we will continue to add to our strong technological foundation through investment, analyzing the consumer experience, and expanding our AIS team. At AIS, we are confident that we can give customers the best mobile and digital entertainment experience in every aspect.

However, there are also challenges that lie ahead, some of which are as follows: 1. Heightened competition in 4G technology will focus on quality and speed. AIS is ready for 4G service on 1800MHz, and will continue to improve network efficiency to support our customers. Handset strategy is expected to continue by operators to protect and gain market share. 2. Customers will have higher expectations in terms of service quality and mobile internet experiences after all operators can offer 4G service. This is especially relevant Annual Report 2015 Advanced Info Service Public Company Limited

027

Business Direction over the next 3 - 5 years Build on our market leadership toward digital wider rollout in the next 1-3 years. Additionally, to compete on providing faster speed, we will continue to deploy “carrier transformation The telecommunication industry in Thailand is expected to undergo a transformation over the next 3-5 years. A shift in consumer behavior to a much more digital based environment translates to the need of higher speed internet to access digital contents of all forms, especially higher definition contents, VDO streaming, and e-commerce. Consumers are using various digital devices in order to access information, news, social media and other entertainments thus they are looking for advanced services and quality networks provided by operators. As a leading telecommunication service provider for the past 25 years, AIS sees a compelling opportunities to address these changes and lead the industry toward digital transformation. Beginning over a year ago, we set our corporate vision to transform ourselves to a “Digital Life Service Provider” to enhance the lifestyle of customers and businesses with always - connected behavior using our quality networks, led by a strategic focus of three core businesses: mobile phone services, fixed broadband service and digital contents.

aggregation” technique, which combines the use of different spectrum band e.g. 1800MHz aggregating with 2100MHz. The rising data consumption particularly for high-definition and streaming contents implies a continual demand for more bandwidth to supply sufficient capacity. We aim to seek more spectrums for future growth and expect the regulator to push for more spectrum auctions of several bands such as 850MHz, 1800MHz and 2600MHz in the following 3-5 years. With the enhanced network, we are well-positioned to provide leading service quality for 3G and 4G. As equally important, customer service is the key to retain customer loyalty and hence build a quality and sustainable revenue. Our unmatched and highly recognized customer service will continue to be uplifted and respond to new lifestyle. Digital transformation in customer service is already undergoing with the push toward digitized service process and experience at our retail shops and call center as well as building new online service channels.

Mark a leadership in mobile broadband, led Step up in fixed broadband business, aiming for converged services by network & service quality Today, the usage of mobile data has seen an upsurge due to the constant improvement in technologies of device, network, and applications. Consumers now rely less on the traditional simple voice call but rather communicate through mobile internet via multimedia applications such as LINE or Facebook, etc. Consequently, in Thailand we see that 3G is becoming a mainstream, supported by an abundance of low-cost smartphones. While smartphone penetration rate of AIS’ subscribers increased to 59% in 2015 with an upward trend, it is crucial for us to continue improving capacity and quality of our 3G network as well as investing more for further coverage expansion beyond the current 98% of population to strengthen our competitive advantage and customer perception. Another significant movement is the increasing role of 4G technology at present and in the next 1-3 years. Consumers need to connect to the internet anytime anywhere and need a fast and reliable network. 4G has become a standard for active data users who require higher speed for more sophisticated multimedia contents and applications. More videos with high definition quality from both user-generated contents and more variety of content providers are much more popular. With this consumer trend, we recently bid for additional spectrum, 1800MHz, which is the world’s most commonly used for 4G deployment. The 4G network is quickly rolled out to cover areas with high demand for data and expected to continue 028

In Thai market, there were only three key players in fixed broadband and mainly served ADSL technology. While fixed broadband penetration remains below 30%, there is strong demand for high speed internet in many parts of Thailand. The existing ADSL technology is becoming obsolete and has a technical limit on its speed. Customers are expecting for something that would change their experience with better offers, especially speed and stability. With the low penetration rate in fixed broadband market and the demand of faster and better service, AIS saw an exciting opportunity to launch AIS Fibre, the fixed broadband service that leveraged on our existing high quality fibre optic cable nationwide deployed under 3G-2.1GHz network. The new FTTx technology provides high speed internet at home up to 1Gbps compared to 20Mbps of ADSL technology. This business will become another revenue stream for AIS and at the same time strengthen our mobile business proposition. With our strong financial flexibility, AIS can allocate investment to focus more on the fixed broadband business, aiming to have a significant market share in three years. Starting 2016, we will step up how we grow this business with a quicker expansion for more service coverage, and more investment to improve processes, i.e. sales force, installation and after sales service. Fixed broadband service, together with digital content, will be converged with other AIS’s traditional mobile service, supporting us to become a leading integrated telecom provider. Annual Report 2015 Advanced Info Service Public Company Limited

Toward this digital transformation of our business, AIS will Build innovation in digital contents for emphasize on operational transformation of three key aspects. consumers and business customers In digital era, when various devices are popular and easy to access by users, demand for contents also grows rapidly. We can see new consumer behaviors everywhere, such as the need to enjoy entertainment on-the-go, trend of e-commerce by big players and new entrepreneurs, and financial transaction on mobile. In terms of business, cloud and other business solutions can help save costs and increase efficiency in many business processes. M2M, although seems less familiar today, is expected to be more popular with a wide variety of usage to benefit different customer segments in the future. To become an integrated telecom player, digital content is an important element driving the Company to the vision. The differentiated digital content can build a closer customer connection that support generation of another revenue stream for AIS and ultimately earn a long-term revenue quality. Our strategic focus on the digital content revolves around five key areas, namely video, games, mobile banking, cloud and M2M. This will change the ordinary form of data consumption and bring a new growth in the next 3-5 years. We will begin our focus on mass adoption of video entertainment platform which we believe is the mainstream of new data consumption. Last year, we launched AIS PLAYBOX as a home entertainment platform. Starting 2016, AIS is extending this platform to mobile, called AIS PLAY. Additionally, we believe cloud will become the next wave and foundation for new consumption at both individual and business levels.

Annual Report 2015 Advanced Info Service Public Company Limited

1) Customers - who have always been the core value of our business. Our goal now is to have our customers ‘love’ AIS from the quality services and benefits that are exclusively provided to them. 2) People - our staffs will be encouraged to constantly improve their skills and be creative in their ideas along with having enjoyable experiences working at AIS. This will strengthen our organization to be the leading place to work for new generations. 3) Partners - we believe in achieving an ‘Eco-system’ to reach multi ability - enriched collaborations with our partners and to create new customers’ needs, and always exceed their expectation while lead to the sustainable growth of AIS and our partners in the long run. In 2015, AIS was included in the Dow Jones Sustainability Indices in the category of Emerging Markets, signifying the dedication and commitment of every individual at AIS in driving the business with sustainability mindset. The efficiency of AIS is well-balanced by taking into account benefits and concerns of all stakeholders. We do not only focus on financial profit but we also balance the economic growth for shareholders’ return, development and advancement of community and society, as well as environmental friendly innovation. This is the new foundation for our sustainable long-term growth to become a leading organization providing digital life services to all Thais.

029

Products and Services Today, technology changes at a rapid pace, and customer behavior follows suit. As the smartphone penetration rate rises, mobile internet usage continues to grow. In addition to voice calls, AIS customers are now using increasing amounts of data on their mobile devices. In response to these changes, AIS has launched a new products and services campaign. To meet the evolving needs of our customers, AIS introduced a new fixed broadband service to provide the fastest high speed internet while also increasing the digital content available to our customers through a variety of applications. This is the new AIS brand concept: â&#x20AC;&#x153;Live Digital, Live More.â&#x20AC;? The key components of this concept are as follows : Mobile Phone Business Currently, AIS provides 2G, 3G, and the new 4G mobile services on a 2.1GHz license and 1800MHz license following the November 2015 auction. These services support over 38.5 million mobile subscribers of which 33 million are prepaid and 5 million postpaid. In 2015, AIS expanded its base stations to more than 27,200 nationwide, which cover more than 98% of the population.

3UHSDLG 6HUYLFH Customers can top up their wallet through a variety of channels such as the AIS Shops, mPay, ATMs, banks, and convenience stores. When money is added, customers can select and use the services that most suit their behavior from various packages under the AIS 1-2-Call! brand. In general, when the prepaid SIM is registered, customers can choose a main package that includes YRLFH DQG LQWHUQHW with AIS WiFi, or the NET SIM package that provides RQO\ LQWHUQHW, which is very popular for devices such as tablets. A third option is a package for YRLFH FDOOV RQO\, which has differently priced plans for usage on the AIS network or other networks. In addition, AIS offers special voice call packages for the audio and visually impaired.

030

3RVWSDLG 6HUYLFH Customers using postpaid mobile services are billed after use, at the end of each payment cycle, which is more convenient. Postpaid packages are of the same types as the prepaid packages, and include a YRLFH DQG LQWHUQHW main package with AIS WiFi, an RQO\ LQWHUQHW package, or a package for RQO\ YRLFH FDOOV. Postpaid subscribers can choose from a variety of mobile service packages. Apart from the main prepaid and postpaid packages, customers can buy on-top packages to extend service usage and control their spending limits. They can do this by adding voice minutes, adding internet data usage, increasing the internet speed, etc. Customers can choose on-top packages for either one-time or recurring usage. For the convenience of customers, a variety of channels are available for purchasing on-top packages, including by USSD code, online eService, and other applications such as LINE.

Annual Report 2015 Advanced Info Service Public Company Limited

In order to serve our customers’ various needs in this $,6 2QH &DOO =((' 6,0 In February 2015, AIS launched a new SIM for teenagers, digital era, AIS launched many new products and services who represent a high growth market due to the increasing in 2015, including the following: trend of data consumption. Under the name ‘Zeed SIM’, this product provides various L6:23 3DFNDJH special benefits that match the Through our analysis of customer behavior, AIS identified lifestyle needs of these customers new opportunities which led to the development of an increased such as promotions for free unlimited variety of packages to match each customer segment. social media and internet usage, as well as reduced calls rates and costs for popular applications. In addition, AIS has applied a new music marketing strategy to further attract teenagers. ‘iSWOP’ is the first campaign that allows AIS customers to manage their own voice and internet usage in real-time. iSWOP has helped to ease customer concerns about unused voice and internet usage, and has empowered customers to control their package to match their usage preferences and behavior. 6,0 6$)( 6$)( AIS collaborated with AXA, the world’s leading insurance company, in creating a new model of mobile SIM. This is the first insurance prepaid SIM that offers customers privileged accident insurance and compensation without paying any insurance premiums. 6HJPHQWHG 6,0 AIS also discovered new opportunities in expanding our coverage in the teenage, foreign worker, and tourist demographics. To serve the needs of each group, we now offer the following packages and services that differentiate us from our competitors: 7UDYHOHU 6KDULQJ 6,0 In January 2015, AIS launched a new product for tourists, called the ‘Traveler Sharing SIM’, which contains three SIM numbers in one package. Customers enjoy free voice calls amongst the three numbers in the group while all three numbers also have internet access. The services are segmented for groups of friends or families. AIS launched a marketing campaign targeting both domestic and international tour agencies in order to reach as many potential customers as possible. Annual Report 2015 Advanced Info Service Public Company Limited

+HOOR $VLD 6,0 In June 2015, AIS launched the ‘Hello Asia SIM’ to better serve foreign customers and foreign workers in Thailand, particularly those from Asian countries such as the Burmese, Cambodians, Laotians, Chinese, Koreans and Japanese. AIS is the first operator to offer one SIM card that can support and communicate with the nationals of these six countries in their six local languages. Moreover, these customers also enjoy special call rates and free social media usage in addition to low-cost IDD services. By combining the ‘Hello Asia SIM’ 031

with ‘AIS LAVA’, AIS generated an increase of more than one million Burmese subscribers in 2015. Furthermore, AIS continues to offer quality handsets at reasonable prices to serve the various needs of our customers. In 2015, AIS launched many campaigns offering good value on 3G-enabled smartphones, thus allowing more customers to conveniently access the internet and enjoy online services while traveling internationally. The following are examples of our handset promotions: $,6 6XSHU &RPER AIS offers various models of quality smartphones at reasonable prices under the brand AIS LAVA, which is a special partnership between the independent manufacturer and AIS. Prepaid and postpaid subscribers can purchase a 3G smartphone at an inexpensive price together with a promotion package. In the last quarter of 2015, AIS launched the AIS LAVA 4G smartphone series to serve customers with our new 4G network. Please visit www.ais.co.th/3g-one-2-call/Default.aspx for more information on prepaid packages, and visit www.ais. co.th/3g-postpaid for postpaid packages.

AIS has consistently improved the International Roaming both in voice and non-voice services. This year, AIS launched cost-saving daily packages called ‘Non-stop Data Roaming’ in order to provide 24-hours unlimited data services to serve customers in foreign countries. Customers can use all the services in one package which is utmost convenient for those who travel to many countries in one trip as well as those who have flight transitions. This low-cost International Roaming data package covered around 97 countries in total. As for ,QWHUQDWLRQDO 5RDPLQJ low-cost voice package, the service is available in 109 In addition to mobile services for national communication, countries. AIS also have additional services to serve customers’ need such as International Roaming, for customers who travel around the world and they are in need to use calls, text message and internet services. AIS provides the International Roaming services around 229 countries globally. There are various channels for customers to acquire the International Roaming services e.g. Call Center, AIS Roaming application and USSD code etc.

032

Annual Report 2015 Advanced Info Service Public Company Limited

,QWHUQDWLRQDO 'LUHFW 'LDO ,''

Customers in Thailand can conveniently connect to more than 240 countries globally with our International Direct Dial. It can be used by both postpaid and prepaid customers by dialing international call code, followed by the local numbers. &RUSRUDWH 6ROXWLRQV In addition to AIS’ individual customers, AIS also serve wide-range of corporate clients with growth potential. Corporate clients thrust for effective services for their various business and management efficiencies. AIS has offered solutions such as communication, IT, process follow-up and investigation, marketing and business-specific solutions. Fixed Broadband Business AIS has launched a fixed broadband service under the brand ‘AIS Fibre.’ AIS is the first and only operator to provide the full capacity of services through fiber optic cables. With more than 120,000 kilometers installed, AIS has been investing in fibre optics since first deploying 3G services on our 2.1GHz license granted in 2013. Thus, AIS was able to market a strategy of only needing to install the last mile of Fibre to the Home (FTTH) and Fibre to the Building (FTTB) to serve customers with the fastest internet speed and full-capacity experience of AIS fixed broadband. In 2015 we already have coverage in 12 provinces : Bangkok, Nonthaburi, Samutprakan, Pathumthani, Chiang Mai, Nakhon Ratchasima, Chonburi, Udon Thani, Khon Kaen, Phuket, Nakhon Pathom and Samut Sakhon. Moreover, AIS will continue to expand its fixed broadband coverage to reach 6.5 million homepasses by the end of 2016. AIS offers the following two package choices with speeds ranging from 15 Mbps to 1 Gbps: +RPH 3DFNDJH suitable for home users with higher upload speed compared with market packages at the same price. Users can surf the internet, receive and send e-mails, use social networks, upload photos, play online games, watch video streaming, and upload to or watch YouTube without any pause. 3URIHVVLRQDO 3DFNDJH suitable for small organizations or internet cafes. This package offers web servers, mail servers, and video conference calling with Full HD quality.

the AIS PLAYBOX. Customers can enjoy entertainment media provided by AIS’ content partners in Ultra HD 4K quality, which is four times higher than HD quality. Please find more information of AIS Fibre at www.ais. co.th/fibre

Digital Content and Partnership for Application In 2015, AIS enhanced both our revenue streams and potential to respond to customer behavior in the digital age by providing new digital content composing five key areas for today’s lifestyle. These are video, gaming, mobile banking, cloud storage, and Machine-to-Machine (M2M). w 9LGHR A newly developed innovation offered to customers in 2015 was the AIS PLAYBOX, which is a set top box with a variety of video contents, TV programs, movies, sports, and karaoke. Developed through collaboration with various partners such as GMM Grammy, CTH, and several TV stations, this innovation has enhanced the convenience of entertainment media consumption for our AIS Fibre customers. For the first time, AIS also brought In addition to these packages, AIS Fibre customers can Hollywood blockbusters from leading regional player watch TV programs via the internet without a satellite through HOOQ to air on AIS PLAYBOX and on mobile phones. Annual Report 2015 Advanced Info Service Public Company Limited

033

w *DPLQJ In 2015, AIS partnered with game-selection experts E-Innovation and Blue Mobile in Thailand and Boyaa and Game Loft from abroad to provide video games to gamers ranging from teenagers to adults. We also developed payment channels that deduct money from the network (Direction Carrier Billing) and from the AIS One-2-Call! top-up cards. w 0RELOH 0RQH\ For mobile banking and payment, AIS has enhanced the mPay service to support cash transactions made via a mobile phone, which includes a Beat Banking service with cooperation from CIMB Thai bank. AIS has further enhanced the mPay Station to support SMEs by helping to manage payment transactions from their customers using the AIS payment platform. In addition, AIS is currently working with KBank to provide a cash transfer service from any KBank account to any mPay account to make payments even more convenient. w &ORXG 6WRUDJH AIS offers Cloud storage services for corporate clients using software called â&#x20AC;&#x2DC;Software-asa-Service.â&#x20AC;&#x2122; This software is operated through the Cloud for mobile security, service software, logistic software, marketing software and efficiency production software. The total number of corporate clients using the Cloud services doubled in 2015, mainly because clients only have to pay a monthly service payment, which is more reasonable and affordable for them than having to purchase the software themselves. Moreover, customers can utilize up-to-date software, get faster responses to their business requirements, and manage their costs more efficiently. w 0 0 For the M2M service, AIS launched marketing strategies in various industries such as logistics, finance, banking and public utilities. In 2015, the connection figures grew by 20% because AIS developed M2M platforms that connected with the platforms of Bridge Alliance, which is an alliance union of which AIS is a member, as well as providers in 37 other countries in Asia and Africa. These platforms can help corporate clients manage their own M2M equipment. For example, they can operate the opening and closing time of the equipment, can alter the rate of service payment according to the usage of each piece of equipment, and can view real-time status reports on each piece of equipment. In addition to enhancing and creating new efficiencies in running a business, these services also support deeper market penetration. Due to the comprehensive coverage offered by AIS, these platforms can serve both domestic and also overseas corporate clients. 034

Beside these five key areas of digital content, AIS also provides other supporting services such as Calling Melody, which has been modernized with updated song lists and the Calling Melody application to make song selection and management more convenient. Other new applications have also been chosen from the AIS StartUp program since 2011 to support and encourage growth among StartUp entrepreneurs. New markets were created through creative applications such as GolfDigg, a golf court booking app; Stock Radar, a stock trading app; Local Alike, an app promoting sustainable tourism; and Noonswoon, a matchmaker app. Moreover, we also collaborate with partners who provide SMS Infotainment services and encourage them to create new applications to cope with the increasing use of smartphones.

Annual Report 2015 Advanced Info Service Public Company Limited

Distribution Channels

The channels through which products and services are distributed to our consumers are one of the key support mechanisms to promote AISâ&#x20AC;&#x2122;s strategy and provide customers with access to all of our products and services. By maintaining good relationships with our distributors and broadening our network of distribution channels across the country, AIS has been able to respond to the individual lifestyle needs of our customers. Today, 97 percent of all AIS distribution is handled by qualified agents who are highly capable in their business activities and are able to provide continuous high-quality customer care. The selection criteria for choosing our agents are based on the location of the potential agent as well as their performance history and financial viability. We are particularly selective when choosing our provincial agents as each one must be familiar with the local demographics of their market in addition to possessing the business experience required to build trust with our customers by offering reliable service. The details of the various types of AIS agents in mobile business are as follows:

Annual Report 2015 Advanced Info Service Public Company Limited

AIS Shops AIS expanded to 84 branches and 10 AIS Shop by partner in 2015 in order to reach more customers across a wider coverage area. Service processes have also been improved for increased efficiency, while service shop interiors and product displays were redesigned in order to help ensure that each customer has a positive experience at our AIS Shops. In addition, AIS has selected distributors to be our partners in managing various AIS distribution outlets. These partners will help AIS reach more customers by offering the same sales and service standards as are available at AIS Shops.

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through the Advanced Retail Shops and AIS Buddy, and have continually supported nationwide marketing activities in their area. AIS Buddy In 2015, AIS rebranded more than 1,000 AIS Service Points nationwide as “AIS Buddy” shops. The motto of AIS Buddy is to serve as a “new friend in your neighborhood” by acting as a retail outlet to provide AIS products and services Telewiz AIS has partnered with over 100 Telewiz agents and while supporting an increasing number of AIS customers. more than 450 Telewiz and Telewiz Plus stores throughout the country. Each of these agents has the right to distribute Advanced Retail Shop (ARS) AIS goods and services, including the right to provide Advanced Retail Shops are the key outposts that distribute postpaid registration services. These agents also provide goods directly to our customers. There are currently over several registration-related services, and act as a channel 22,000 ARS shops across the country designed to reach for processing service payments and other expenses. customers in remote locations, and this number is continually Telewiz agents are supported by AIS to ensure that services growing as our reach further expands into local communities. are offered with efficiency and to the same standard as AIS Shops. Types of support include management and Key Accounts and Modern Trade Outlets communication systems that conveniently and continuously AIS distributes a variety of goods and services, including update inventory and other such functions within the AIS payment processing, through large chain store dealers with network to bring a competitive edge to our agents. AIS also their own branches nationwide. These include Jay Mart, provides knowledge sharing and training for Telewiz staff, TG, Bangkok Telecom, CSC, and various modern trade while AIS support teams regularly visit our agents to offer retailers, such as Tesco Lotus, Big C, Power Buy, and 7 - 11. advice. In 2014 - 2015, the Young Telewiz Management In addition, IT retail outlets such iStudio, iBeat, Banana IT, Program was established to prepare a new generation of Com7, and IT City all offer AIS sales and services. In total, Telewiz managers to succeed in this business. The program AIS is partnered with more than 20 major dealers equipping includes training in accounting, administration, finance, over 15,000 branches nationwide. AIS has also increased marketing, and information technology. the number of AIS promoters who recommend AIS products AIS is committed to enhancing the customer experience and services to our customers. We have also improved the in a number of ways. Customers buying a new phone are efficiency of these channels and increased brand awareness given the opportunity to use and sample various popular through promotional campaigns, such as the AIS Super Deal smartphones before making a decision on which to purchase. and the Trade-in campaign. Customers who buy a new phone are given the opportunity to transfer data, such as phone numbers, photos, messages, Direct Sales Channels and music, from their original phone to their new device To optimize our customer service reach, AIS has increased using innovative software from Cellebrite. Enhancements the number of direct sales distribution channels to offer were also made to further streamline the queue system and goods and services to our customers directly. This has been payment kiosks for customers who receive services through achieved by deepening our partnership with selected agents these outlets. who have shown the capacity and expertise necessary to be an AIS direct sales and services outlet. We have created an AIS Direct Sales Team to support the future growth and Advanced Distribution Partnership (ADP) The Advanced Distribution Partnership (ADP) is selected expansion of the direct sales and services market. from among all agents who have demonstrated significant distribution potential in their target market and have maintained a healthy financial status. ADP agents are particularly skillful at promoting the efficient delivery of products in their area 036

Annual Report 2015 Advanced Info Service Public Company Limited

Electronic Distribution Channels AIS encourages its agents to provide 1-2-Call! prepaid service users with online money top-up services for improved customer convenience. In addition, AIS is continuously developing new top-up methods through Electronic Distribution Channels, such as automatic top-up machines, ATMs, mobile banking, and mPay. AIS currently offers Electronic Distribution Channels at over 400,000 points across the country. Electronic top-ups have proven to be extremely popular with AIS customers, accounting for over 80% of all top-ups. This has helped reduce the costs of producing pre-paid top-up and cash top-up plastic cards. AIS Fibre For AIS Fibre, our cutting edge broadband internet service, we have chosen distribution channels that are uniquely tailored for particular customer demographics. This allows us to be able to effectively offer these products and services to customers with the highest quality support. AIS Fibre can be distributed through more than 80 AIS and Telewiz shops in 12 provinces. Our AIS Fibre Direct Sales team handles customers directly, while our partnering agents, such as Telewiz, have the capability and expertise to offer AIS Fibre in their local areas. Recent developments in electronic channels, www. ais.co.th/fibre/ and AIS Fibre Application available on Google Play, have shown promising results, and we anticipate rapid one more step with the opening of two provincial offices in market growth in the future. Nakhon Ratchasima Province. The first office is located at Krirkkrai Building, Asadang Road, and at The Mall Building, The Management of Customers Relations Mittraphap Road, which can support the maximum number of 750 employees or equivalent to 20% of all employees of and Customer Experience This year AIS has been looking forward to boosting the Advance Contact Center Co., Ltd. and also to create more strategy in taking care of customers to be in line with the jobs for the local people of Korat. Currently there are 540 GLJLWDO HUD E\ XQYHLOLQJ WKH $,6 /LYH Ë WR DGG WKH GHJUHH employees from the local and nearby provinces to provide of speciality for taking care of our the services to our customers up to 20% of the total lines of FXVWRPHUV FRYHULQJ DOO Ë RI all over the country and to respond to the people’s lifestyle living requirement, and to conform on online society and yet to invest for the development of to the lifestyle of the people in the new multimedia tool system. The system shall answer all modern time who are looking for questions distributed in the online society such as Pantip. the peculiar style, convenience, excitement and joyfulness com, Facebook, e-mail, back to the agents automatically for with 5 important strategies through 5 degrees of care as them to respond to the customers within 30 minutes. The number of contact through the online society media has been follows: growing up to 59% compared to 2014. In addition, it has developed the self-service system through the Interactive AIS Service The degree of service with technology given to our customers Voice Response that was available to more than 3.4 million with good care by more than 5,000 skilled and experienced lines per month with the new service of “*1175 self service, employees. In this year Advance Contact Center Co., Ltd., very easy,” for the customers to do the transaction by the service provider of AIS Call Center has been growing for themselves, for example, change the package, promotion Annual Report 2015 Advanced Info Service Public Company Limited

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application, etc. free of charge and there are about 52% of all service users who use the automatic Interactive Voice Response with the increase of the total sale through *1175 at the rate of 17% from 2014 or 11% of all sales. With the intention to create the service innovation, the management of human resources and the quality checking, this caused the Advance Contact Center Co., Ltd. to be rewarded with u7KH %HVW RI WKH %HVW (PSOR\HU 7KDLODQG v award from Aon Hewitt and u7KH 2XWVWDQGLQJ &DOO &HQWHUv from the Office of the Customers Protection Board (OCPB) and AISâ&#x20AC;&#x2122;s Standard Certification Institute (SCI) for two successive years. This year AIS Shops has expanded its branches continuously w 2XWVWDQGLQJ .LRVN 6HUYLFH from 68 branches in 2014 to 84 branches in 2015. Two new w 3D\PHQW .LRVNV which are increased from 249 AIS Flagship Stores have been unveiled with the first branch Kiosks in 2014 to 370 Kiosks in 2015 by transferring located at The Emquatier (in March) and the second branch the payment transaction from AIS Counter service at at the Central plaza Westgate (in August) and are ready to AIS Shops to the payment Kiosks up to 80% of. This boost its services all over the country toward the full digital enables the employees to provide other services for life in multi-dimensions. Example are as follows. more value and expand the Kiosks to be located at w 'LJLWL]HG 3URFHVV by employees in the form of Service different locations such as MRT sub-stations, BTS on Mobility with tablet, for more flexibility, less paper sky train, Telewiz shops in shopping center, etc. and helping to create the customer relationship through w 6HUYLFH 9HQGLQJ .LRVNV that are fully opening in this the interrelation for providing service consultation more year for the customers to do all the transactions by closely. themselves, for example, to select the auspicious numbers, to register the new number, to change the SIM Card 3G upgrading, or to change packages. 49 kiosks have been installed at AIS Shops and will be expanded continuously in the next year. w $,6 9HQGLQJ .LRVN In the first phase, six kiosks were in service, selling Nong Aun Jai products, such as plush toys, towels, sun shades and etc. w $,6 FRQWLQXHG to develop knowledge and skill of staff and upgraded them to be Digital Life Gurus who know well about smart phones, accessories and applications. w ,QVLGH VKRSV WKH 'LJLWDO /LIH $UHQD for showing the Digital Life Gurus were increased from 232 gurus in 2014 modern digital life technology is provided. In this year to 375 gurus in 2015. the health care concept and the lifestyle in the Smart Health and Smart Home have been exhibited for the customers to be involved in the true experience and real equipment in those areas at 10 branches of AIS Shops this year. Also the visual merchandise wall exhibition in the digital form has been organized for increasing the visual remarkableness and to present lots of interesting goods with complete service.

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Annual Report 2015 Advanced Info Service Public Company Limited

AIS Privilege Special with degree for those who prefer the discount rate, to deliver the special privileges together with more than 12,000 shops and stores such as Central Restaurant Group, Minor Group, McDonalds, Black Canyon, S&P, Major Group, SF Cinema, BTS sky train, MRT, Bangkok Airways, Central, The Mall, The Emquartier, Siam Paragon, CMG, Bangkok, etc., for giving the discount specially to the AIS customers, covering the eating, shopping, entertainment, travelling and tourism as well as the discount for mobile phone given to those who purchase the smartphone bundled with an attractive price plan. AIS Rewards Special with degree for those who prefer to push forward for gold with the profit return project for AIS customers, following the â&#x20AC;&#x153;7th year of AIS Un Jai Chok Thong Talomtubâ&#x20AC;? Project with Work Point in the Prisana Fah Laeb Program. This involved giving fortune to customers who can draw for gold worth of Baht 10,000 and one Baht 1 million every month. AIS Points Special with degree for those who prefer to exchange points, to deliver the worthiness for all uses. Customers will receive 1 point for every Baht 25 of service fee for the right to exchange with call fee, internet service fee, free food and movie Un Jai Premium and draw for free trip with James Jirayu. AIS Experience Special with degree of experience with extra experience bonus inside and outside of the country, taking care of customers warmly and specially throughout the experience on tourism. This included 8 routes of the world heritage such as Turkey, Gui Lin and The Czech Republic. For dining, we also responded the needs of all groups of customers, for example, premium dishes with the Chef of the world from â&#x20AC;&#x153;Michelin Star Chefâ&#x20AC;? and this year new project â&#x20AC;&#x153;Eat free meal todayâ&#x20AC;? for the customers to dine at famous restaurants in Bangkok and 20 more provinces all over Thailand free of charge, which has been responded by customers actively and warmly in all areas. In addition $,6 6HUHQDGH customers still received more special privilege from provision of the special rights for AIS Serenade Platinum customers. For example, free movie for one seat/month at SF Cinema with 25% discount for the first class seats, free 1 glass of drink and one piece of snack, Parking reservation service for Serenade Platinum and Annual Report 2015 Advanced Info Service Public Company Limited

Gold customers in more than 17 areas all over the country, etc. Furthermore, there are activities organized continuously, emphasizing on making the Thai people to be proud of being the Thai citizens with the activities for serenade customers only. For example the activity, â&#x20AC;&#x153;Unveil the 100 years legend of Ananta Samakhom Throne Hallâ&#x20AC;? on an occasion of 100 years anniversary of the Ananta Samakhom Throne Hall construction and the visit to â&#x20AC;&#x153;Arts of the Stateâ&#x20AC;? show and the activity at â&#x20AC;&#x153;The Miracle of Bhubing Palaceâ&#x20AC;? by taking customers to visit Bhubing Palace in Chiang Mai Province, all of which have been responded impressively by AIS customers. $SDUW IURP WKHVH $,6 /LYH Ă&#x2039; WR DGG WKH GHJUHH RI speciality project has received the u,QQRYDWLYH 0RELOH 'LJLWDO /LIHVW\OH &DPSDLJQ $ZDUGv from Asia Pacific Customer Service Consortium (APCSC) in Hong Kong in June 2015 which is the award from the campaign selection with the new innovation to exceptionally answer the on the customer service and care in the time of digital era.

039

Risk Factors AIS has established a proactive risk management plan to ensure that the Company continues to be viable even in unpredictable situations. As such, AIS has set up the Risk Management Committee, comprised of senior executives and the Chairman of the Executive Committee. The committee meets on a quarterly basis in order to discuss and classify the risks to the entire organization and to set up a precautionary action plan to manage risks at an acceptable level. The aim of such measures is to ensure that AIS achieves its set targets and maintains the confidence of both shareholders and stakeholders. The Risk Management Committee submits the results of its risk management to the Executive Committee, the Audit Committee, and the Board of Directors every quarter. Further details of the risk management are shown in â&#x20AC;&#x153;Risk Management, Internal Control, and Internal Auditâ&#x20AC;?, page 81. In 2015, the factors which were identified as a risk to operational results are summarized as follows:

Risks from Regulatory and Government Policies

Risk from changes in government policies, rules, regulations and orders of regulators. AIS operates under the supervision of The National Broadcasting and Telecommunications Commission (NBTC), the organization regulating the telecommunications business who has legal authority in issuing rules, regulations and orders to regulate the licensees. The rules, regulations, and orders issued in the future, such as fixing tariff structure and service fees, or issuing rules and measures for consumer protection, might reduce the Companyâ&#x20AC;&#x2122;s ability to generate profit and/or might increase the cost of the Companyâ&#x20AC;&#x2122;s services. If the NBTC has acted lawfully upon any amendments and/or enactment of new rules and regulations, the Company may not lawfully file a lawsuit and/or make any claim for any indemnification from the NBTC. Nevertheless, in any case in which the Company is of the opinion that such laws, rules, regulations and/or orders have affected the Companyâ&#x20AC;&#x2122;s rights, or the Company has been treated unfairly, the Company has the right to file a lawsuit against the NBTC to revoke the enactment including any claim for indemnification from a relevant organization. Furthermore, the Company, as a telecommunications service provider which is a direct stakeholder, would be invited to provide opinion and comment on the drafts of laws, rules, regulations and/or orders which will be issued for enforcement in the future. Henceforth, the Company would have the opportunity to raise our concerns or make comments, suggestions and/or oppositions if the enactment of the laws, rules, regulations and/or orders is 040

deemed to have seriously affected the Companyâ&#x20AC;&#x2122;s operations, or has been unlawfully conducted. Disputes relating to Excise Tax &DVH EHWZHHQ $GYDQFHG ,QIR 6HUYLFH 3XEOLF &RPSDQ\ /LPLWHG WKH &RPSDQ\ DQG 727 3XEOLF &RPSDQ\ /LPLWHG 727

TOT submitted a dispute (Case No. Black 9/2551) to the Arbitration Institute, Alternative Dispute Resolution Office, and the Office of the Judiciary, demanding that the Company pay an additional share of revenue of Baht 31,463 million. On 20 May 2011, the Arbitral Tribunal unanimously resolved to dismiss the dispute citing the reason which can be summarized as the Company had lawfully paid all due share of revenue. Therefore, the Company has not committed a breach of the agreement and the Company is not obliged to pay any additional share of revenue to TOT. Consequently, TOT has submitted an application to the Central Administrative Court to set aside the award of the Arbitral Tribunal. At present, the case is pending the consideration of the Central Administrative Court; the trial process may take several years to conclude. If the Company loses this case, it may be obliged to pay TOT as demanded. However, the management of the Company firmly believes that this case shall reach a positive conclusion since the amount is the equal amount of excise tax paid by the Company, which the Arbitral Tribunal had taken into consideration when unanimously deciding to dismiss the case.

&DVH EHWZHHQ 'LJLWDO 3KRQH &RPSDQ\ /LPLWHG '3& D VXEVLGLDU\ RI WKH &RPSDQ\ DQG &$7 7HOHFRP 3XEOLF &RPSDQ\ /LPLWHG &$7

CAT submitted a dispute (Case No. Black 3/2551) to the Arbitration Institute, Alternative Dispute Resolution Office, and Office of the Judiciary, demanding DPC, a subsidiary of the Company, pay additional share of revenue of Baht 2,449 million under the Digital PCN (Personal Communication Network) Agreement, plus a penalty at the rate of 1.25% per month of the unpaid amount for each year calculated from the default date until full payment totaling Baht 3,410 million is made. Such claimed amount is equal to the amount of excise tax DPC paid between 16 September 2003 and 15 September 2007, and was deducted from the revenue share calculations pursuant to the resolution of the cabinet on 11 February 2003 as is the standard practice of the telecommunications industry. On 1 March 2011, the Arbitral Tribunal resolved to dismiss the dispute citing the reason which can be summarized as Annual Report 2015 Advanced Info Service Public Company Limited

the original debt had been completely paid and settled. Thus, DPC has not committed any breach and CAT cannot re-claim the alleged deficit amount, including the penalty and the value added tax. Consequently, CAT submitted a request to the Central Administrative Court to set aside the award of the Arbitral Tribunal; on 28 July 2015, the Central Administrative Court decided in favor of DPC, by dismissing the complaint of CAT regarding the revocation of the Arbitrator’s Decision on the ground that CAT sent the request letter to change the payment term regarding revenue sharing under the cabinet resolution and also accepted the remaining portion of such revenue sharing and also returned the bank guarantee to DPC as usual without any argument. In this regard, this Arbitral Tribunal’s decision is resolved in accordance with the law and under Concession Agreement. If the Central Administrative Court revokes such Arbitrator’s Decision, DPC may be obliged to pay CAT as demanded. However, the management of the Company firmly believes that this case shall reach a positive conclusion since the share of revenue demanded by CAT is equal to the amount of excise tax which has already been paid by the Company according to the unanimous resolution of the Arbitral Tribunal, which dismissed the dispute. Dispute over revenue sharing from interconnection charges According to the Telecommunication Business Act B.E. 2544 and the Notification of NTC regarding the Use and Interconnection of Telecommunication Networks B.E. 2549, the Company has the responsibility to enter into interconnection agreements with other operators. The Company offered to provide remuneration to TOT for such interconnections, which was calculated from the net income according to the rate and calculating method of the Company. However, TOT required the Company to pay a share of revenue calculated from the gross amount of interconnection charges received by the Company at the rate specified in the Agreement without deduction of interconnection charges which the Company has to pay to other operators. On 26 January 2011, TOT sent a letter demanding that the Company pay the share of revenue from the interconnection charges of the concession years 17-20 in the amount of Baht 17,803 million plus interest at the rate of 1.25 percent per month. However, the Company disputed the request and sent a letter opposing the said claim to TOT and submitted the dispute to the Dispute Reconciliation Office, Arbitration Institute (ref. no. Black 19/2554) on 9 March 2011 requesting the Arbitral Tribunal to award that TOT has no right to claim for such share of revenue. Annual Report 2015 Advanced Info Service Public Company Limited

If the Company loses the case, it may be obliged to pay TOT as demanded. However, the management of the Company firmly believes that the resolution of the Arbitral Tribunal will reach a positive conclusion for the Company since it has fully complied with the law. Dispute between Digital Phone Company Limited (DPC), a subsidiary of the Company, and CAT Telecom Public Company Limited (CAT) regarding the reduction of roaming charges between DPC and the Company DPC submitted a dispute (Case No. Black 27/2553) to the Alternative Dispute Resolution Office, the Thai Arbitration Institute, requesting the Arbitration Panel to set aside the allegation of CAT that DPC was in breach of the Roaming Service Agreement between the Company and DPC without approval from CAT and would terminate the agreement, and demanding that CAT pay compensation of Baht 50 million to DPC. However, CAT submitted a dispute (Case No. Black 62/2553) to the Arbitration Institute, demanding that DPC pay additional remuneration for concession years 10-12 in the amount of Baht 2,000 million plus penalty calculated from April 2010 incurred due to the reduction by DPC of the roaming charge rate between DPC - the Company from Baht 2.10 to Baht 1.10 during the period of 1 April 2007 - 31 December 2008 without the approval of CAT. Furthermore, on 1 September 2011, CAT submitted a further dispute of the concession year 12 (1 April 2009-15 June 2009) to the Arbitration Institute, Alternative Dispute Resolution Office, and the Office of the Judiciary (Case No. Black 89/2554) for the amount of Baht 113,211,582.68. Later, the Arbitration Institute ordered that all three disputes be considered by the Arbitration Tribunal together and, at present, such disputes are pending consideration of the Arbitral Tribunal which may take several years to conclude. If DPC loses the case, DPC may be obliged to pay CAT as demanded. However, the management of the Company believes that the ruling of the Arbitration Panel of this case shall decide in favor of DPC as DPC had informed CAT of the application of the roaming rate of Baht 1.10 per minute in July 2006, to which CAT had given written approval of such application for the period until March 2007 and had also given additional approval during the period of January 2009 to March 2009. In addition, CAT had never sent any refusal or objection to DPC during the disputed periods. The roaming rate is also in conformity with market conditions as approved by the NTC.

041

Dispute between Digital Phone Company Limited (DPC), a subsidiary of the Company, and CAT Telecom Public Company Limited (CAT) on tower and power supply ownership On 3 February 2009, CAT submitted a dispute (Case No. Black 8/2552) to the Arbitration Institute, Alternative Dispute Resolution Office, demanding that DPC deliver and transfer ownership of 3,343 towers including 2,653 units of power supply equipment under the terms and conditions of the Digital PCN (Personal Communication Network) Agreement. After DPC failed to do so, CAT demanded that DPC pay Baht 2,230 million to CAT as compensation. However, DPC considers that the terms and conditions of the Agreement do not cover any of the disputed telecommunication equipment which DPC is obligated to deliver and transfer to CAT. The Arbitrary Tribunal unanimously resolved to dismiss all of the disputes citing the reason which can be summarized as the right of CAT to demand that DPC deliver properties which are objects of the contract cannot be exercised until 60 days after expiration of the contract. Therefore, the submission of the dispute by CAT is premature. Consequently, CAT has submitted a request to the Central Administrative Court to set aside the award of the Arbitral Tribunal on 25 October 2013. At present, the case is pending consideration of the Central Administrative Court which may take several years to conclude. If DPC loses the case, DPC may be obligated to pay CAT as demanded. However, in consideration of the aforementioned arguments, the management of the Company’s firmly believes that the case shall reach a positive conclusion. Dispute Case with TOT Public Company Limited (TOT) regarding the Mobile Number Portability (MNP) ¾µ ¢ß ÂÄ±Â²Á¸±´ÁÂ ÃÁ°½Âµ´ÁÁ¸½¶ Ã¾ ³Å°½²´³ ¦¸Á´»´ÂÂ ´ÃÆ¾Áº ¾¼¿°½È ¸¼¸Ã´³ | ¦ } °Â Ã·´ °µµ¸»¸°Ã´ of AIS On 25 September 2014, TOT submitted the dispute (Case No. Black 80/2557) to the Arbitration Institute, Alternative Dispute Resolution Office, demanding the Company to pay liquidated damages commencing from the date of submission of the dispute in the amount of Baht 9,126 million, plus interest at the rate of 7.5% per annum including the legal fees and expenses for the arbitration process by claiming that such damage was caused by the Company from transferring its subscribers operating under 900MHz to the 2100MHz system of AWN on the ground that the Company breached the Cellular Mobile Telephone 042

Service Agreement (the “Agreement”) between TOT and the Company. At present, the dispute is under arbitration proceedings. The management of the Company firmly believes that the outcome of the dispute is unlikely to have a significant impact on the financial statements of the Company and the Company has fully complied with the conditions of the Agreement in all respects. Dispute Case regarding Companies not collecting all information from prepaid subscribers under NBTC Notification regarding Prepaid Identification According to the National Broadcasting Telecommunications Commission’s (NBTC) order that all mobile operators operating a pre-paid service, including the Company, must collect and record all required information of all prepaid subscribers within the specified time, and the subsequent issuance of an order requiring the Company and the other 2 major mobile phone operators in this telecommunication industry to pay an administrative fine in the amount of Baht 80,000 per day from 6 July 2012 until such time as the operators fully comply with the said order; the Company has submitted disputes (Case No. Black 1858/2554 and Case No. Black 252/2556) to the Administrative Court for the revocation of the 2 NBTC Orders. At present, the case is pending consideration by the Administrative Court. On 19 November 2015, the Central Administrative Court ruled to revoke the NBTC’s resolution and order, citing the reasons which can be summarized as the subscribers are required to disclose their personal information to operators and the NBTC did not issue any enforcement or any suspension or termination measures regarding such service. In addition, the significant number of subscribers makes it extremely difficult to enforce such measures without any participation from the subscribers. Therefore, NBTC’s resolutions and order are unlawful according to the regulatory scope of the NBTC, which creates a huge burden impact on the operators. At present, the case is pending the consideration of the Supreme Administrative Court following an appeal submitted by NBTC to the Supreme Administrative Court on 18 December 2015. If the Company loses the case, the Company may have to pay an administrative fine of Baht 80,000 per day, from 6 July 2012 until the date that the Company can comply with the said order of the NBTC. However, the management of the Company believes that this dispute will be resolved in a positive way due to the fact that NBTC and all mobile Annual Report 2015 Advanced Info Service Public Company Limited

operators had a concerted effort to record all prepaid subscriber information to facilitate the compliance of the telecommunication business with such order. The effort includes a joint development of an application called “2 Snap Shot” to facilitate a simpler and quicker registration of prepaid subscriber of which the information can be directly submitted to the system of mobile operators. The application is deployed through out various distribution channels as an additional method to filling out the registration form and recording a copy of the identity card. Dispute regarding revenue share for providing National Roaming Service Subject to the 7th Amendment of the Concession Agreement under which TOT Public Company Limited (TOT) provided consent to the Company to use the telecommunication network to offer to other operators in support of National Roaming Services for which the Company agreed to pay a share of revenue to TOT at the rate specified under Section 30 of the Concession Agreement; the Company has entered into a National Roaming Agreement with Advanced Wireless Network Company Limited (AWN) and requested the fees from AWN, the Company calculated the revenue share payment to be made to TOT at the rate specified under the Concession Agreement. Subsequently, TOT issued the letter to the Company notifying it that since July 2013, the Company has not paid TOT the full share of revenue owed from the National Roaming Service. TOT considered that the Company has received the usage fees from AWN at a rate lower than the rate specified under the Concession Agreement, regarding which the Company neither informed nor received written consent from TOT. As a result, TOT has requested the Company to pay TOT an additional share of revenue from the National Roaming Service from July 2013 to June 2015 in the amount of Baht 13,341 million. However, the Company did not agree with this decision and has issued a letter in opposition to TOT. The Company considers that such lower service fees received from AWN were the rates applied under a promotional scheme for sending a large volume of roaming traffic. In addition, such promotional scheme provided to AWN was notified and provided to all operators using the National Roaming Service. Moreover, the fees under such promotional scheme did not exceed the fee rate of National Roaming Service specified under the 7th Amendment of the Concession Agreement. As a result, the rates for such promotional scheme did not need approval from TOT. Annual Report 2015 Advanced Info Service Public Company Limited

In this case, should TOT bring this issue to the arbitration process, the management of the Company believes that this issue can be opposed because the Company has done everything correctly subject to the Concession Agreement. Moreover, at present, the supervision and control of service fees are regulated by NBTC. Dispute between Advanced Info Service Public Company Limited (AIS) and TOT Public Company Limited (TOT) regarding the titles of towers The Company submitted the dispute (Case No. Black 53/57) to the Dispute Resolution Office of the Arbitration Institute on 21 July 2014 to request the arbitral tribunal to find that the Company’s signaling towers are not equipment and assets to be transferred to TOT and that the Company owns the signaling towers; and to request TOT to return the associated revenue which it had already been paid by the Company. The Company considers that its signaling towers are not equipment and tools included in the operation of the 900MHz Cellular Telephone System subject to the Concession Agreement. Therefore, the Company is not under any obligation to transfer such signaling towers to TOT. Presently the dispute is under the arbitration process. The management of the Company believes that the dispute will end favorably because the Company and TOT are currently negotiating to become business partners. Dispute regarding the request from TOT Public Company Limited (TOT) to Advanced Info Service Public Company Limited (AIS) to transfer additional equipment used for the operation of the 900MHz Cellular Telephone System Subject to the claim from TOT requesting that the Company transfers equipment used in the operation of the 900MHz Cellular Telephone System, namely the Billing System, Intelligence Network (IN) System, Value Added Service System, Customer Relation Management System, Systems Application and Product (SAP) System, Payment System, Equipment and Tools, Production and Usage Control of Cash Card System, Customer Service and Billing Statement System, Management of Telewiz and Dealer System, Network Management System, Customer Database System, Computer and Software for VAS, Intangible Assets and Spare Parts, to TOT in accordance with the Concession Agreement, TOT considers that such assets are equipment and tools which the Company provides for the operation of 900MHz Cellular Telephone System and the Company is under obligation to TOT as defined in the Concession Agreement. However the Company considers that such 043

6 systems as requested by TOT are not equipment and tools for the operation of the 900MHz Cellular Telephone System as defined under the Concession Agreement, and that such systems are only support systems for providing service to subscribers. Should TOT bring this dispute to the arbitration process, the management of the Company believes that the dispute can be settled via negotiation since currently the Company and TOT are currently negotiating to become business partners

which is the administrative contract can be separated from such amendment attached hereto, the amendments have still been in effect as long as it is not revoked or terminated by time, or otherwise…”. Furthermore, the 6th and the 7th Amendments had never been revised or revoked until the 30th September 2015, which is the ending date of the Concession Agreements. Therefore, the outcome of the said dispute should be settled favorably and have no considerable impact on the business of the Company.

Claim for additional revenue from the 6th and 7th Amendments to the Concession Agreement On 30 September 2015, the Company submitted a dispute (Case No. Black 78/2558) to the Arbitration Institute of the Alternative Dispute Resolution Office of Thailand regarding the 6th Amendment dated 15 May 2001 and 7th Amendment dated 20 September 2002 to the Concession Agreement to conduct the business of Cellular Mobile Telephone services. Under said dispute, the Company requested the Arbitration Institute to resolve that the amendments between the Company and TOT Public Company Limited (“TOT”) are binding and must be complied until the expiration of the Concession Agreement. Additionally, the Company also requested that the Company has no obligation to pay the additional revenue claimed by TOT as in a letter submitted to the Company on 29 September 2015 regarding a request for the payment of additional revenue in the amount of Baht 72,036 million. TOT claimed such additional payment based on the ground that the 6th and 7th Amendments were of significant amendment which caused TOT to receive lower revenue than the rate as specified in the Concession Agreement. Later, on 30 November 2015, TOT submitted a new dispute (Case No. Black 122/2558) to the Arbitration Institute of the Alternative Dispute Resolution Office of Thailand to decrease the amount of revenue claimed by TOT to Baht 62,773 million according to the percentage adjustability of revenue sharing under the Concession Agreement. This case is the same as dispute Case No. Black 78/2558. At present, the dispute is under the consideration of the arbitrators. The management of the Company believes that the 6th and 7th Amendments to the Concession Agreement are binding and effective until the expiration of the Concession Agreement on 30 September 2015, and that the Company has fully complied with all concerned Agreements. Moreover, the Council of State opined on this matter that the amendments to the Concession Agreement between TOT and the Company (Case No. 291/2550) that “…the amendment process of the Concession Agreement

Operational Risk

044

Risk from intensive competition in the telecommunication business With the mobile telecommunication market in Thailand continuing to be highly competitive, operators occasionally use pricing to attract consumers. As the market sees higher growth of data demand, there could continue to be high competition in pricing, promotions and marketing campaigns, which the Company must strategically respond to in a timely manner and cost - effective way in order to maintain its market leader position. In addition, as the NBTC tries to promote free and fair competition, new entrants are somewhat encouraged by the rules and regulations set by the NBTC. An example of this is from the 900 and 1800MHZ spectrum auctions, which new operators joined, and could potentially intensify the competition in the market. New operators may apply aggressive price policies to increase their market share. The Company, as a leader in the market, is confident that the Company has the ability to compete on price, packages and promotions. Our brand image, cost-efficient operations, and integrated product and service offerings also enable us to build differentiation from others and to provide better responses to customers’ needs and satisfaction requirements. Risk to IT security With advanced technology, users are able to access any desired data and service via the internet from anywhere, such as for online shopping, making financial transactions, or storing data on cloud computing systems. In response to demand, the Company has rapidly developed a variety of products and services to serve customers’ needs. However, the advanced technology comes with threats to the Company’s security system and information security system, which can be compromised from both the deficiency of the Company’s own system and external threats. The Company places emphasis on preventing any risks Annual Report 2015 Advanced Info Service Public Company Limited

that may affect information security in order to protect the Company’s data security from system compromise or from hackers, as well as to deliver quality services and enhance customer’s confidence on data privacy management of the Company. ActiveSync communications protocol for the receiving and transmitting of the Company’s data via portable devices, with enforced compliance from both executives and employees at all levels in the organization; and performed data security risk assessment of important systems in accordance with the Company’s plan to mitigate possible risks from information theft or system failure. In addition, the Company has implemented data security management systems, such as Payment Card Industry - Data Security Standard (PCI-DSS) and ISO 27001 Information Security Management, in order to ensure the security of the Company’s data. The Company has already received ISO 27001 certification in 2015. Employees have also received training and internal communications to promote. The Company has established information and IT Security Regulations; implemented the Exchange continued awareness. Risk of disaster, natural disaster and force majeure In the event of any disaster, natural disaster or force majeure which may affect the Company’s operating systems, property and/or employees, leading to an interruption of business. The Company has established a business continuity management plan and system, with regular exercises and reviews. In order to efficiently manage the Company’s resources to cope with any disaster, which causes damage to the Company’s office building or operation centers, alternative sites will be prepared to ensure continuity of the Company’s business and minimize effects to the mobile phone network to ensure that the Company can maintain its position as a leader in network quality and retain consumer confidence in our service when disasters occur. Reputation risk due to community’s lack of understanding on health issues arising from radio waves In 2015, the Company increased its number of base stations to service the growing demand for data usage and prepare for the launch of the 4G service. One of the barriers that may prevent the Company from being able to build base stations as planned is the understanding of the concerned communities on health issues arising from radio waves nearby the Company’s base stations, which may lead to resistance to the construction and/or appeals to related parties. The Company has taken measures to prevent Annual Report 2015 Advanced Info Service Public Company Limited

this situation by setting up specific teams to communicate to the relevant communities before construction, in line with NBTC’s regulations. These teams conduct public hearings and confer with community leaders and people in the relevant areas, starting from the planning phase to find the most appropriate installation site. These measures can help the Company to analyze the relationship between the Company and the community and also to gather information from the community on the issues of concern to them. The community is encouraged to participate with the Company at every step to ensure their confidence on safety issues. The Company will prepare construction blueprints of the base stations that have been certified by professional civil engineers to meet the standards of the Engineering Institute of Thailand. These blueprints are then presented to the district office for municipal approval of the construction. Once the construction is approved, a licensed engineering team will oversee the construction in accordance with the approved plans and to ensure that it strictly meets the standards for the safety of both workers and the surrounding community. Risk arising from the Company’s failure to respond in a timely manner to customers’ needs/issues via various social media platforms which may affect the Company’s corporate image With the unlimited connectivity of social networks today, communicating or sharing information can be completed rapidly and easily. In response to customers’ behaviors of connecting with various social media platforms, the sharing of product and service information, the handling of enquiries and the resolution of complaints must be performed in a prompt manner with the accurate information. This is to prevent the spread out misleading information, which may have a negative impact on the Company’s corporate image. The Company has implemented tools to monitor related information in various social media and also appoint specialized staff to monitor and respond to customer needs specifically via online channels. This is to ensure a timely response with accurate information to meet customer needs to have the best experience.

045

Summary Profile of The Director and Management

Mr. Vithit Leenutaphong

Age 60 years

Mr. Somprasong Boonyachai Age 60 years

Appointed 27 March 2013 w &KDLUPDQ RI %RDUG RI 'LUHFWRUV w &KDLUPDQ RI /HDGHUVKLS 'HYHORSPHQW DQG &RPSHQVDWLRQ &RPPLWWHH w $XWKRUL]HG 'LUHFWRUV

Appointed 28 March 1994 w 9LFH &KDLUPDQ RI %RDUG RI 'LUHFWRUV w 0HPEHU RI /HDGHUVKLS 'HYHORSPHQW DQG &RPSHQVDWLRQ &RPPLWWHH w 0HPEHU RI 1RPLQDWLRQ DQG &RUSRUDWH *RYHUQDQFH &RPPLWWHH

Share Ratio (%)* Relationship with Management

None None

Highest Education Highest Education w 0DVWHU 'HJUHH RI %XVLQHVV $GPLQLVWUDWLRQ 8QLYHUVLW\ RI 6RXWKHUQ w 0DVWHU 'HJUHH RI (QJLQHHULQJ $VLDQ ,QVWLWXWH RI 7HFKQRORJ\ California, USA Related Training Program held by IOD Related Training Program held by IOD w 5ROH RI WKH &KDLUPDQ 3URJUDP 5&3 &ODVV w 5ROH RI WKH &KDLUPDQ 3URJUDP 5&3 &ODVV w 'LUHFWRU &HUWLILFDWLRQ 3URJUDP '&3 &ODVV w 6XFFHVVIXO )RUPXODWLRQ ([HFXWLRQ RI 6WUDWHJ\ 6)( &ODVV w 'LUHFWRU $FFUHGLWDWLRQ 3URJUDP '$3 &ODVV w 5ROH RI WKH &RPSHQVDWLRQ &RPPLWWHH 5&& &ODVV w $XGLW &RPPLWWHH 3URJUDP $&3 &ODVV Working Experiences in 5 years w 'LUHFWRU &HUWLILFDWLRQ 3URJUDP '&3 &ODVV 2008 - Present Chairman of Executive Committee / Intouch Holdings Plc. Vice-Chairman of Board of Director, Member of Working Experiences in 5 years Leadership Development and Compensation Committee, 2014 - Present Chairman of the Board of Directors, Chairman of Member of Nomination and Corporate Governance Leadership Development and Compensation Committee, and Authorized Directors / Advanced Info Service Plc. Committee / Advanced Info Service Plc. 2015 - Present Consultant to International Affairs / 2007 - Present Director / Intouch Holdings Plc. National Press Council of Thailand 2006 - Present Director / Thaicom Plc. 2014 - Present Director / B.V. Moto Co., Ltd. 2004 - Present Director / Praram 9 Hospital Co., Ltd. 2005 - Present President / Thai Yarnyon Co., Ltd. 2002 - Present Independent Director and Member of Audit Committee / Director / Saha Thai Steel Pipe Plc Power Line Engineering Plc. Director / The Queenâ&#x20AC;&#x2122;s Gallery 2010 2015 Acting-President / Intouch Holdings Plc. Director / The Bangkok Bank Foundation 2009 - 2011 Chairman of Executive Committee / Thaicom Plc. 2001 - Present Director / Intouch Holdings Plc. 1989 - Present Director / Thai Pradith Industry Co., Ltd. Illegal Record in past 10 years 1987 - Present Director / Commercial Motorworks Co., Ltd. None 1973 - Present Director / Y.M.C. Assembly Ltd. 2011 - 2015 Director / National Press Council of Thailand 2001 - 2014 Independent Director and Member of Audit Committee / Intouch Holdings Plc. 2002 - 2010 Director / German - Thai Chamber of Commerce 1995 - 2013 Director / Barcelona Motor Co., Ltd. Illegal Record in past 10 years None Remark : *As at 31 December 2015, the number of ordinary shares includes holding by spouse and minor children 046

Annual Report 2015 Advanced Info Service Public Company Limited

Mrs. Tasanee Manorot

Age 70 years

Appointed 24 April 2006 w 0HPEHU RI 6XVWDLQDEOH 'HYHORSPHQW &RPPLWWHH w 0HPEHU RI $XGLW &RPPLWWHH w ,QGHSHQGHQW 'LUHFWRU

Share Ratio (%)* Relationship with Management

Mr. Surasak Vajasit

Age 62 years

Appointed 10 May 2006 w &KDLUPDQ RI 1RPLQDWLRQ DQG &RUSRUDWH *RYHUQDQFH &RPPLWWHH w 0HPEHU RI $XGLW &RPPLWWHH w ,QGHSHQGHQW 'LUHFWRU

None None

Share Ratio (%)* Relationship with Management

None None

Highest Education w %DFKHORU RI &RPPHUFH DQG $FFRXQWDQF\ &KXODORQJNRUQ 8QLYHUVLW\

Highest Education w %DUULVWHU DW /DZ /LQFROQtV ,QQ 8.

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Related Training Program held by IOD w 'LUHFWRU $FFUHGLWDWLRQ 3URJUDP '$3 &ODVV

Working Experiences in 5 years 2014 - Present Member of Audit Committee, Member of Sustainable Development Committee, and Independent Director / Advanced Info Service Plc. 2006 - 2014 Member of Audit Committee and Independent Director / Advanced Info Service Plc.

Working Experiences in 5 years 2014 - Present Independent Director, Chairman of Nomination and Corporate Governnance Committee and Member of Audit Committee, Advanced Info Service Plc. 2014 - Present Managing Partner / Rajah & Tann (Thailand) Ltd. 2008 - 2014 Member of Audit Committee, Member of Nomination and Corporate Governance Committee and Independent Director / Advanced Info Service Plc. 2005 - 2014 Executive / Hunton and Williams (Thailand) Ltd.

Illegal Record in past 10 years None

Remark : *As at 31 December 2015, the number of ordinary shares includes holding by spouse and minor children Annual Report 2015 Advanced Info Service Public Company Limited

047

Ms. Jeann Low Ngiap Jong

Age 55 years

Mr. Allen Lew Yoong Keong

Age 60 years

Appointed 27 March 2013 w 'LUHFWRU w 0HPEHU RI 1RPLQDWLRQ DQG &RUSRUDWH *RYHUQDQFH &RPPLWWHH

Appointed 20 March 2006 w 'LUHFWRU w &KDLUPDQ RI ([HFXWLYH &RPPLWWHH w 0HPEHU RI /HDGHUVKLS 'HYHORSPHQW DQG &RPSHQVDWLRQ &RPPLWWHH

Share Ratio (%)* Relationship with Management

None None

Highest Education w %DFKHORU RI $FFRXQWDQF\ 1DWLRQDO 8QLYHUVLW\ RI 6LQJDSRUH Related Training Program held by IOD Working Experiences in 5 years 2015 - Present Group Chief Corporate Officer / Singapore Telecommunications Ltd. 2013 - Present Director / Advanced Info Service Plc. 2008 - 2015 Group Chief Financial Officer / Singapore Telecommunications Ltd. Illegal Record in past 10 years None

None None

Highest Education w 0DVWHU RI 6FLHQFH 0DQDJHPHQW 0DVVDFKXVHWWV ,QVWLWXWH RI Technology, USA Related Training Program held by IOD Working Experiences in 5 years 2014 - Present Chief Executive Officer Consumer Australia Chief Executive Officer Optus / Singapore Telecommunications Ltd. 2008 - Present Director, Chairman of Executive Committee, and Member of Leadership Development Committee / Advanced Info Service Plc. 2006 - Present Director / Advanced Info Service Plc. Chief Executive Officer (Singapore) / Singapore Telecommunications Ltd. 2012 - 2014 Executive Officer Group Digital Life and Country Chief - Officer (Singapore) / Singapore Telecommunications Ltd. Illegal Record in past 10 years None

Remark : *As at 31 December 2015, the number of ordinary shares includes holding by spouse and minor children 048

Annual Report 2015 Advanced Info Service Public Company Limited

Mr. Krairit Euchukanonchai

Mr. Stephen Miller

Age 61 years

Appointed 26 March 2014 w &KDLUPDQ RI $XGLW &RPPLWWHH w 0HPEHU RI 1RPLQDWLRQ DQG &RUSRUDWH *RYHUQDQFH &RPPLWWHH w ,QGHSHQGHQW 'LUHFWRU

Appointed 2 June 2015 w 'LUHFWRU w 0HPEHU RI ([HFXWLYH &RPPLWWHH

Share Ratio (%)* Relationship with Management

None None

Age 52 years

None None

Highest Education w 0DVWHU RI %XVLQHVV $GPLQLVWUDWLRQ 1RUWK 7H[DV 6WDWH 8QLYHUVLW\ Technology, USA

Highest Education w st Honor) Bechelor of Economics and Finance, University of New South Wales, Australia

Related Training Program held by IOD w 'LUHFWRU &HUWLILFDWLRQ 3URJUDP '&3 &ODVV w 5ROH RI WKH &KDLUPDQ 3URJUDP 5&3 &ODVV

Related Training Program held by IOD -

Working Experiences in 5 years 2015 - Present Director, Chairman of Executive Committee, Chairman of Risk Management / Krungthai Bank Plc. 2014 - Present Chairman of Audit Committee, Member of Nomination and Corporate Governance Committee, and Independent Director / Advanced Info Service Plc. 1998 - Present Chairman / V Group Honda Car Co., Ltd. 2011 - 2012 Director and Member of Audit Committee / PTT Plc. 2006 - 2012 Chairman of Board and Chairman of Risk Management Committee / Krungthai Asset Management Plc.

Working Experiences in 5 years 2015 - Present Director and Member of Excutive Committee / Advanced Info Service Plc. 2014 - Present Consultant / Singapore Technologies Telemedia, Singapore 2013 - 2014 President & COO / Singapore Technologies Telemedia, Singapore 2012 - 2013 President & CFO / Singapore Technologies Telemedia, Singapore 2010 - 2012 Senior EVP & CFO / Singapore Technologies Telemedia, Singapore 2005 - 2010 CFO / Singapore Technologies Telemedia, Singapore

Illegal Record in past 10 years None

Remark : *As at 31 December 2015, the number of ordinary shares includes holding by spouse and minor children Annual Report 2015 Advanced Info Service Public Company Limited

049

Mr. Kan Trakulhoon

Age 60 years

Appointed 3 August 2015 w ,QGHSHQGHQW 'LUHFWRU w &KDLUPDQ RI 6XVWDLQDEOH 'HYHORSPHQW &RPPLWWHH

Share Ratio (%)* Relationship with Management

None None

Mr. Somchai Lertsutiwong

Age 53 years

Appointed as Director on 27 June 2014 Appointed as Chief Executive Officer on 1 July 2014 w 'LUHFWRU w 0HPEHU RI 6XVWDLQDEOH 'HYHORSPHQW &RPPLWWHH w 0HPEHU RI ([HFXWLYH &RPPLWWHH w &KLHI ([HFXWLYH 2IILFHU w &KLHI 0DUNHWLQJ 2IILFHU w &KLHI 0DUNHWLQJ 2IILFHU Share Ratio (%)* 0.0027 Relationship with Management None

Highest Education w +RQRUDU\ 'HJUHHV RI (QJLQHHULQJ &KXODORQJNRUQ 8QLYHUVLW\

Highest Education w 0DVWHU RI %XVLQHVV $GPLQLVWUDWLRQ &KXODORQJNRUQ 8QLYHUVLW\

Related Training Program held by IOD w 'LUHFWRU &HUWLILFDWLRQ 3URJUDP '&3 &ODVV

Working Experiences in 5 years 2015 - Present Director and Chairman of Sustainable Development Committee / Advanced Info Service Plc. 2015 - Present Advisory Board / Nomura Holdings Inc. 2011 - Present Consultant / Kubota Corporation (Japan) 2006 - 2015 President / The Siam Cement Plc.

Working Experiences in 5 years 2014 - Present Director, Member of Sustainable Development Committee Member of Executive Committee, Chief Executive Officer, Chief Marketing Officer, and Authorized Director / Advanced Info Service Plc. 2012 - 2014 Chief Marketing Officer / Advanced Info Service Plc. 2007 - 2012 Executive Vice President - Marketing / Advanced Info Service Plc. 2004 - 2007 Senior Vice President - Wireless Communication / Advanced Info Service Plc.

Illegal Record in past 10 years None

Remark : *As at 31 December 2015, the number of ordinary shares includes holding by spouse and minor children 050

Annual Report 2015 Advanced Info Service Public Company Limited

Mr. Kim Siritaweechai

Age 47 years

Mr. Hui Weng Cheong

w 0HPEHU RI ([HFXWLYH &RPPLWWHH (Currently resigned from his position effective from 4 February 2016)

w &KLHI 2SHUDWLQJ 2IILFHU

Share Ratio (%)* Relationship with Management

None None

Highest Education w 0DVWHU RI %XVLQHVV $GPLQLVWUDWLRQ 7KDPPDVDW 8QLYHUVLW\ Related Training Program held by IOD w 'LUHFWRU &HUWLILFDWLRQ 3URJUDP '&3 &ODVV Working Experiences in 5 years 2015 - Present Director / High Shopping TV Co., Ltd. 2014 - Present Executive Vice President - Portfolio Management / Intouch Holdings Plc. Director / I.T. Applications and Services Co., Ltd. 2013 - Present Director / Intouch Media Co., Ltd. Director / Touch TV Co., Ltd. 2012 - Present Director / Ookbee Co., Ltd. 2010 - 2016 Member of Executive Committee / Advanced Info Service Plc. 2011 - 2014 Senior Vice President - Portfolio Management / Intouch Holdings Plc. 2008 - 2011 Vice President - Portfolio Management / Intouch Holdings Plc.

Age 60 years

None None

Highest Education w 0DVWHU RI %XVLQHVV $GPLQLVWUDWLRQ 8QLYHUVLW\ RI 6RXWKHUQ California, USA Related Training Program held by IOD Working Experiences in 5 years 2013 - Present Chief Operating Officer / Advanced Info Service Plc. 2010 - 2012 CEO International / Singapore Technologies Telemedia, Singapore 2009 - 2010 Chief Operating Officer / Advanced Info Service Plc. Illegal Record in past 10 years None

Illegal Record in past 10 years None

Remark : *As at 31 December 2015, the number of ordinary shares includes holding by spouse and minor children Annual Report 2015 Advanced Info Service Public Company Limited

051

Mr. Kriengsak Wanichnatee

Age 55 years

w &KLHI 7HFKQRORJ\ 2IILFHU

Share Ratio (%)* Relationship with Management

Ms. Kantima Lerlertyuttitham

Age 45 years

w &KLHI +XPDQ 5HVRXUFHV 2IILFHU

None None

Share Ratio (%)* Relationship with Management

None None

Highest Education w 0DVWHU RI 6FLHQFH LQ (OHFWULFDO (QJLQHHULQJ 8QLYHUVLW\ of Sounthern California, USA

Highest Education w 0DVWHU RI 3V\FKRORJ\ &RXQVHOOLQJ 6HUYLFH 5LGHU 8QLYHUVLW\ New Jersey, USA

Related Training Program held by IOD w 'LUHFWRU &HUWLILFDWLRQ 3URJUDP '&3 &ODVV

Related Training Program held by IOD -

Working Experiences in 5 years 2013 - Present Chief Technology Officer / Advanced Info Service Plc. 2012 - 2013 Executive Vice President - Mobile Network Implementation / Advanced Info Service Plc. 2006 - 2011 Executive Vice President - Nationwide Operations and Support / Advanced Info Service Plc.

Working Experiences in 5 years 2015 - Present Chief Human Resources Officer / Advanced Info Service Plc. 2013 - 2015 Deputy Chief Operation Officer / MC Group Plc. 2011 - 2013 Chief Human Resources Officer / Prudential Life Insurance (Thailand) Plc. 2007 - 2011 Human Resources Director / Central Watson (Thailand) Co., Ltd.

Illegal Record in past 10 years None

Remark : *As at 31 December 2015, the number of ordinary shares includes holding by spouse and minor children 052

Annual Report 2015 Advanced Info Service Public Company Limited

Company Secretary, Head of Internal Audit and Head of Compliance Mr. Chavin Chaivatcharaporn

Age 43 years

Appointed 3 January 2013 w &RPSDQ\ 6HFUHWDU\ Share Ratio (%)* Relationship with Management

Age 55 years

Appointed 1 January 1999 w &KLHI $XGLW ([HFXWLYH

None None

Highest Education w 0DVWHU RI /DZ // 0 8QLYHUVLW\ RI 3HQQV\OYDQLD 86$ Related Training Program held by IOD w 5ROH RI WKH &RPSHQVDWLRQ &RPPLWWHH 5&&

w 'LUHFWRU &HUWLILFDWLRQ 3URJUDP '&3 &ODVV w 5ROH RI &KDLUPDQ 3URJUDP 5&3

w $QWL &RUUXSWLRQ IRU ([HFXWLYH 3URJUDP $&(3 &ODVV w )XQGDPHQWDO 3UDFWLFH IRU &RPSDQ\ 6HFUHWD\ )3&6 &ODVV w &RPSDQ\ 6HFUHWDU\ 3URJUDP &ODVV Working Experiences in 5 years 2013 - Present Company Secretary / Advanced Info Service Plc. 2010 - 2013 Assistant Vice President - Legal / Advanced Info Service Plc. 2003 - 2010 Associate / Hunton and Williams (Thailand) Ltd. Illegal Record in past 10 years None

Mrs. Suvimon Kulalert Share Ratio (%)* Relationship with Management

0.0001 None

Highest Education w 0DVWHU RI %XVLQHVV $GPLQLVWUDWLRQ 7UDFN 0DQDJHPHQW ,QIRUPDWLRQ System, Oklahoma City University, USA w &HUWLILHG 3XEOLF $FFRXQWDQW &HUWLILHG ,QWHUQDO $XGLWRU Certificate in Risk Management Assurance Related Training Program held by IOD w 'LUHFWRU &HUWLILFDWLRQ 3URJUDP '&3 &ODVV Working Experiences in 5 years 1999 - Present Chief Audit Executive / Advanced Info Service Plc. Illegal Record in past 10 years None

Ms. Nattiya Poapongsakorn

Age 40 years

Appointed 1 April 2013 w 9LFH 3UHVLGHQW ,QYHVWRU 5HODWLRQV DQG &RPSOLDQFH Share Ratio (%)* Relationship with Management

0.00025 None

Highest Education w 0DVWHU RI 7HFKQRORJ\ 0DQDJHPHQW :DVKLQJWRQ 6WDWH 8QLYHUVLW\ 86$ w 0DVWHU LQ )LQDQFH &KXODORQJNRUQ 8QLYHUVLW\ Related Training Program held by IOD Working Experiences in 5 years 2015 - Present Vice President, Investor Relations and Compliance / Advanced Info Service Plc. 2013 - 2015 Assistant Vice President, Investor Relations / Advanced Info Service Plc. 2011 - 2013 Acting Assistant Vice President, Investor Relations / Advanced Info Service Plc. 2008 - 2011 Investor Relations Manager / Advanced Info Service Plc. Illegal Record in past 10 years None

Remark : *As at 31 December 2015, the number of ordinary shares includes holding by spouse and minor children Annual Report 2015 Advanced Info Service Public Company Limited

053

Directors and Managementâ&#x20AC;&#x2122;s Shareholding in AIS and subsidiaries as of 31 December 2015 ADVANC

31/12/2014

31/12/2015

31/12/2014

31/12/2015

31/12/2014

31/12/2015

31/12/2014

1. Mr. Vithit Leenutaphong

2. Mr. Somprasong Boonyachai

3. Mr. Krairit Euchukanonchai

4. Mrs. Tasanee Manorot

5. Mr. Surasak Vajasit

6. Mr. Allen Lew Yoong Keong

7. Ms. Jeann Low Ngiap Jong

8. Mr. Kan Trakulhoon1)

80,126

10. Mr. Stephen Geoffrey Miller 2)

11. Mr. Kim Siritaweechai 3)

105,357

3,327

30,174 50,580

73,450

34,670 38,780

90,000 +30,000 60,000 84,651

33,171 51,480

Chairman of the Board of Directors Vice-Chairman of the Board of Directors Independent Director and Chairman of Audit Committee Independent Director and Member of Audit Committee Independent Director and Member of Audit Committee Director and Chairman of Executive Committee Director

Independent Director

9. Mr. Somchai Lertsutiwong

Director, Member of Executive Committee, Chief Executive Officer, and Chief Marketing Officer Director and Member of Executive Committee Member of Executive Committee

12. Mrs. Suwimol Kaewkoon 4)

Chief Organization Development Officer

13. Mr. Hui Weng Cheong Chief Operating Officer

14. Mrs. Vilasinee Puddhikarant 4) Chief Customer Officer

15. Mr. Kriengsak Wanichnatee Chief Technology Officer

16. Mr. Pong-amorn Nimpoonsawat 5) Chief Finance Officer

$EEUHYLDWLRQ ADVANC DPC ADC ACC AMP AMC SBN

054

Grant (+)

31/12/2015

Ordinary share Ordinary share Ordinary share

31/12/2014

ESOP (warrants) 6)

ACC

Buy(+)/ Sell(-)

Ordinary share

ADC

31/12/2015

Name Position

DPC

80,126 101,240 51,600 49,640

105,357 78,351

&RPSDQ\ Advanced Info Service Plc. Digital Phone Co., Ltd. Advanced Datanetwork Communications Co., Ltd. Advanced Contact Center Co., Ltd. Advanced MPAY Co., Ltd. Advanced Magic Card Co., Ltd. Super Broadband Network Co., Ltd.

3,327 80,754

33,171 45,180

$EEUHYLDWLRQ AIN WDS AWN MMT FXL ABN

&RPSDQ\ AIN GlobalComm Co., Ltd. Wireless Device Supply Co., Ltd. Advanced Wireless Network Co., Ltd. MIMO Tech Co., Ltd. Fax Lite Co., Ltd. Advanced Broadband Network Co., Ltd.

Annual Report 2015 Advanced Info Service Public Company Limited

AMP

AMC

SBN

AIN

WDS

AWN

MMT

FXL

ABN

31/12/2015

31/12/2014

31/12/2015

31/12/2014

31/12/2015

31/12/2014

31/12/2015

31/12/2014

31/12/2015

31/12/2014

31/12/2015

31/12/2014

31/12/2015

31/12/2014

31/12/2015

31/12/2014

31/12/2015

31/12/2014

Ordinary share Ordinary share Ordinary share Ordinary share Ordinary share Ordinary share Ordinary share Ordinary share Ordinary share

Notes : 1) Appointed in replacement of Mr. Yek Boon Seng who resigned since 3 August 2015 2) Appointed in replacement of Mr. Ng Ching-Wah who resigned since 2 June 2015 3) Currently has resigned from the position, since 4 February 2016 4) Currently has retired from the position since 31 December 2015 5) Currently has resigned from the position since 31 December 2015 6) The change in number of warrant holding is derived from the approval of shareholdersâ&#x20AC;&#x2122; meeting on 24 March 2015. See more details in page 68

Annual Report 2015 Advanced Info Service Public Company Limited

055

Management Structure Advanced Info Service Public Company Limited

As of 1 January 2016

Nomination and Corporate Governance Committee

Board of Directors Leadership Development and Compensation Committee

Sustainable Development Committee

Executive Committee Audit Committee Chairman of Executive Committee Mr. Allen Lew Yoong Keong

Chief Executive Officer Mr. Somchai Lertsutiwong

Chief Marketing Officer

Mr. Somchai Lertsutiwong

Chief Operating Officer

Mr. Hui Weng Cheong

Chief Human Resources Officer1)

Ms. Kantima Lerlertyuttitham

Chief Technology Officer

Mr. Kriengsak Wanichnatee

Chief Audit Executive

Mrs. Suvimon Kulalert Notes : 1) Appointed on 16 July 2015 2) On 31 December 2015, the Chief Organization Development Officer and Chief Customer Officer retired from the position. The Company is on process of selecting new executives according to the succession plan. 3) On 31 December 2015, the Chief Finance Officer resigned from his position. However the Company appointed SVP-FN to take care of his responsibility during the nomination process to select New Chief Finance Officer.

056

Annual Report 2015 Advanced Info Service Public Company Limited

Board of Directors and Sub - Committees

The Companyâ&#x20AC;&#x2122;s board structure comprises the Board of Directors and five sub - committees : the Audit Committee, the Leadership Development and Compensation Committee, the Nomination and Corporate Governance Committee, the Sustainable Development Committee, and the Executive Committee. The names of their members and directors as well as their meeting attendance information in 2015 are listed in the following table: Attendance/Total Meetings in 2015 Name

Title

Board of Directors

Mr. Vithit Leenutaphong4) w &KDLUPDQ RI %RDUG RI 11/11 Directors w &KDLUPDQ RI /HDGHUVKLS Development and Compensation Committee w $XWKRUL]HG 'LUHFWRU 9/11 w 9LFH &KDLUPDQ RI Mr. Somprasong Board of Directors Boonyachai 4) w 0HPEHU RI /HDGHUVKLS Development and Compensation Committee w 0HPEHU RI 1RPLQDWLRQ and Corporate Governance Committee 11/11 Mrs. Tasanee Manorot3) w ,QGHSHQGHQW 'LUHFWRU w 0HPEHU RI $XGLW Committee w 0HPEHU RI 6XVWDLQDEOH Development Committee Mr. Surasak Vajasit

Ms. Jeann Low Ngiap Jong3) Mr. Allen Lew Yoong Keong4), 7)

10/11 w ,QGHSHQGHQW 'LUHFWRU w 0HPEHU RI $XGLW Committee w &KDLUPDQ RI 1RPLQDWLRQ and Corporate Governance Committee 10/11 w 'LUHFWRU w 0HPEHU RI 1RPLQDWLRQ and Corporate Governance Committee 3/11 w 'LUHFWRU w &KDLUPDQ RI ([HFXWLYH Committee w 0HPEHU RI /HDGHUVKLS Development and Compensation Committee

Annual Report 2015 Advanced Info Service Public Company Limited

Audit Committee

Leadership Nomination and Corporate Development and Executive Governance Compensation Committee Committee Committee

Sustainable Development Committee

8/8

6/6

8/8

15/15

4/4

15/15

6/6

4/6

6/8

13/13

057

Attendance/Total Meetings in 2015

Name Mr. Krairit Euchukanonchai

Mr. Stephen Miller2) 7) Mr. Kan Trakulhoon1) Mr. Somchai4) Lertsutiwong

Mr. Kim Siritaweechai 8)

Title

Leadership Nomination and Corporate Development and Executive Governance Compensation Committee Committee Committee

Sustainable Development Committee

Board of Directors

Audit Committee

w ,QGHSHQGHQW 'LUHFWRU w &KDLUPDQ RI $XGLW Committee w 0HPEHU RI 1RPLQDWLRQ and Corporate Governance Committee w 'LUHFWRU w 0HPEHU RI ([HFXWLYH Committee w ,QGHSHQGHQW 'LUHFWRU w &KDLUPDQ RI 6XVWDLQDEOH Development Committee w 'LUHFWRU w 0HPEHU RI ([HFXWLYH Committee w 0HPEHU RI 6XVWDLQDEOH Development Committee w &KLHI ([HFXWLYH 2IILFHU w $XWKRUL]HG 'LUHFWRU

10/11

15/15

6/6

6/11

7/13

5/11

2/4

11/11

12/13

4/4

w 0HPEHU RI ([HFXWLYH Committee

13/13

1) Mr. Aviruth Wongbuddhapitak resigned from the position of director, effective from 25 March 2015 and appointed Mr. Yek Boon Seng to be replaced as the resolution of the Annual General Shareholdersâ&#x20AC;&#x2122; Meeting 2015 on 24 March 2015. Currently, Mr. Yek Boon Seng resigned from the position of director, then the Company appointed Mr. Kan Trakulhoon to be replaced as the resolution of the Board of Directors on 3 August 2015. 2) Mr. Ng Ching-Wah resigned from the position of director, effective from 31 May 2015 and appointed Mr. Stephen Miller to be replaced as the resolution of the Board of Directors on 2 June 2015. 3) Mrs. Tasanee Manorot and Ms. Jeann Low Ngiap Jong are directors who expertise in account and finance. Summary profile of these two directors are shown in page 47-48 4) Mr. Vithit Leenutaphong, Mr. Somprasong Boonyachai, Mr. Allen Lew Yoong Keong, and Mr. Somchai Lertsutiwong are directors who expertise in telecommunication business. Summary profile of these four directors are shown in page 46 5) Mr. Narulcha Chittreekan resigned from the position of director, effective from 4 February 2015 and appointed Mrs. Preeya Danchaivijit to be replaced as the resolution of the Annual General Shareholdersâ&#x20AC;&#x2122; Meeting 2015 on 24 March 2015. Mrs. Preeya Danchaivijit currently resigned from the position of director, effective from 27 October 2015. 6) Mrs. Suphajee Suthumpun resigned from the position of executive director, effective from 1 October 2015. 7) In cases when Mr. Allen Lew Yoong Keong and Mr. Stephen Miller were unable to attend the meeting, they would consider the matter under discussion and give their opinion via Video Conference or via the Chairman of the Board of Directors in order to propose their opinions to the meeting. 8) Mr. Kim Siritaweechai currently resigned from his position, effective from 4 February 2016.

058

Annual Report 2015 Advanced Info Service Public Company Limited

The Authorized Directors w $UUDQJH DSSURSULDWH DFFRXQWLQJ V\VWHPV LQFOXGLQJ WKH production of financial reports and a reliable auditing Mr. Vithit Leenutaphong and Mr. Somchai Lertsutiwong system; oversee and monitor the effectiveness and together jointly sign with the Companyâ&#x20AC;&#x2122;s seal affixed. efficiency of the internal control, internal audit and risk management systems; The Board of Directors The Board of Directors is comprised of 10 directors w (QVXUH DYRLGDQFH RI FRQIOLFW RI LQWHUHVWV DPRQJVW WKH Companyâ&#x20AC;&#x2122;s stakeholders; whose expertise and experience cover various fields. 4 directors are experienced in the area of telecommunications, w 6XSHUYLVH EXVLQHVV RSHUDWLRQV WR HQIRUFH HWKLFDO ZRUN standards; while 2 directors are experienced in the area of finance and accounting. In order to maintain a balance between w $QQXDOO\ UHYLHZ WKH &RPSDQ\tV &RUSRUDWH *RYHUQDQFH Policy and assess due compliance; the supervisory and management functions of the Company, the Chairman of the Board of Directors must not hold the w 5HSRUW RQ WKH H[HFXWLRQ RI WKH %RDUG RI 'LUHFWRUVt responsibility to prepare financial reports, along with the Chief Executive Officer position simultaneously as well as external auditorâ&#x20AC;&#x2122;s report in the annual report covering key their role and responsibility is explicitly separated. There issues according to the Companyâ&#x20AC;&#x2122;s policy statement and are 4 independent directors, representing one-third of the the Stock Exchange of Thailandâ&#x20AC;&#x2122;s Code of Best Practices members, and 2 female directors sitting on the Board of for Directors of a Listed Company. Directors. The Board of Directors is representative of all shareholders, not of a particular group of shareholders. The Board of Reserved key matters for the Boardâ&#x20AC;&#x2122;s approval Directors has a policy whereby the controlling shareholders Although the Board of Directors has delegated specific of the Company are proportionally represented. powers to Sub - Committees, the Chief Executive Officer and high level executives, the Board of Directors has reserved its The Scope of Authority and Duties of the Board of authorization over certain matters so as to protect the highest interests of the Company and its shareholders, including: Directors w 3HUIRUP LWV GXWLHV ZLWK KRQHVW\ LQWHJULW\ DQG SUXGHQFH LQ w 6WUDWHJ\ EXVLQHVV SODQ DQG EXGJHW w &DSLWDO H[SHQGLWXUH DQG H[SHQVH ZKLFK H[FHHGV WKH accordance with the law and the Companyâ&#x20AC;&#x2122;s objectives approved authority of the relevant sub - committee or and Articles of Association including the resolutions executives of shareholdersâ&#x20AC;&#x2122; meeting, and carefully protect the w 6WUDWHJLF LQYHVWPHQWV LQ QHZ EXVLQHVV DQG GLYHVWPHQWV Companyâ&#x20AC;&#x2122;s interests; w 6HW RXW WKH YLVLRQ SROLF\ DQG GLUHFWLRQ RI WKH &RPSDQ\tV w 6LJQLILFDQW SROLFLHV w 0DWHULDO FRQWUDFWV operations and supervise the management team to act w 0DWHULDO OLWLJDWLRQ in accordance with the plans which are set out efficiency w 'LYLGHQG SROLF\ and effectively, and thereby maximize the economic value and wealth of the Company and its shareholders; w &RQVLGHU DQG DSSURYH PDMRU LVVXHV VXFK DV ODUJH Independent Directors investments, purchase of assets etc. and any actions/ The Companyâ&#x20AC;&#x2122;s independent director criteria has been transactions as prescribed by law; defined stricter than criteria established by the Securities and w $SSURYH DQG RU DJUHH WR PDMRU UHODWHG WUDQVDFWLRQV Exchange Commission and the Stock Exchange of Thailand between the Company and its subsidiaries in compliance in order to avoid conflict of interest and balance the power with the relevant notifications, regulations and guidelines between committee. An independent director must: of the Stock Exchange of Thailand; 1) Holding shares not exceeding 0.5 percent of the total w $VVHVV WKH SHUIRUPDQFH RI WKH &KLHI ([HFXWLYH 2IILFHU number of voting rights of the Company, its parent and high level executives, and assign appropriate company, subsidiary, affiliate or juristic person which remuneration on a regular basis; may have conflicts of interest, including the shares held w %H UHVSRQVLEOH IRU RYHUVHHLQJ RSHUDWLRQDO UHVXOWV DQG by related persons of the independent director; the management teamâ&#x20AC;&#x2122;s performance to ensure due attentiveness and care; Annual Report 2015 Advanced Info Service Public Company Limited

059

2) Neither being nor having been an executive director, employee, or advisor who receives salary or controlling person of the Company, its parent company, subsidiary, affiliate, same-level subsidiary or juristic persons which may have conflicts of interest. Audit Committee Member who shall be appointed on or after 1 July 2010 shall have ended the foregoing not less than two years prior to the date of appointment. 3) Not having any business relationship with the Company, its parent company, subsidiaries, affiliates or juristic persons which may have conflicts of interest, in any manner that may interfere with his or her independent judgment, and not be, or used to be, a substantial shareholder or controlling person in its parent company, subsidiaries, affiliates or juristic persons which may have conflicts of interest. Any Audit Committee Member who shall be appointed on or after 1 July 2010 shall have ended the foregoing relationship not less than two years prior to the date of appointment. The term ‘Business Relationship’ aforementioned under paragraph one, includes any normal business transaction, rental or lease of immovable property, transaction relating to assets or services or grant or receipt of financial assistance through receiving or extending loans, guarantee, providing assets as collateral, including any other similar actions, which result in the Company or its counterparty being subject to indebtedness payable to the other party in the amount of three percent or more of the net tangible assets of the Company or twenty million Baht or more, whichever is lower. The amount of such indebtedness shall be calculated according to the calculation method for value of connected transactions under the Notification of the Capital Market Supervisory Board Re: Rules on Connected Transactions mutatis mutandis. The consideration of such indebtedness shall include indebtedness taking place during the course of one year prior to the date on which the business relationship with the person commences; 4) Not being a person related by blood or registration under laws, such as in the manner of father, mother, spouse, sibling, and child, including spouse of children, executives, major shareholders, controlling persons, or persons to be nominated as executive or controlling persons of the Company or its subsidiary; 5) Not being a director who has been appointed as a representative of the Company’s director, major shareholder or shareholders who are related to the Company’s major shareholder; 060

6) Neither being nor having been an auditor of the Company, its parent company, subsidiaries, affiliates or juristic persons which may have conflicts of interest and not having been a substantial shareholder, controlling person or partner of an audit firm which employs auditors of the Company, its parent company, subsidiaries, affiliates or juristic persons which may have conflicts of interest. Any Audit Committee Member who shall be appointed on or after 1 July 2010 shall have ended the foregoing relationship not less than two years prior to the date of appointment; 7) Neither being nor having been any professional advisor including legal advisor or financial advisor who receives an annual service fee exceeding two million Baht from the Company, its parent company, subsidiaries, affiliates or juristic persons which may have conflicts of interest, and not having been a substantial shareholder, controlling person or partner of the professional advisor. Any Audit Committee Member who shall be appointed on or after 1 July 2010 shall have ended the foregoing relationship not less than two years prior to the date of appointment; 8) Not conduct any business of the same nature as the Company’s or its subsidiaries’ businesses and is in competition with them in any material respect, nor being a substantial partner, shareholder holding more than one (1) percent of the voting shares, director (having management role), employee, officer or advisor (obtaining a regular salary) of any company whose business is of the same nature as the Company’s or its subsidiaries’ businesses, and is in competition with them in any material respect. 9) Not having any other manners, which may render him or her incapable of expressing independent opinions with regard to the Company’s business affairs; After having been appointed as an independent director with qualifications complying with the criteria under 1 to 9, the independent director may be assigned by the Board of Directors to take part in the business decisions of the Company, its parent company, subsidiary, affiliate, same-level subsidiary or legal entity who may have a conflict of interest, on condition that decisions must be collective ones. The Company may appoint a person who has a business relationship or provides a professional service described in i-tem 3 and 7 above if the Board carefully considers the business relationship or service provided and concludes that the appointment will not interfere with the exercise of independent Annual Report 2015 Advanced Info Service Public Company Limited

judgment in the independent directorâ&#x20AC;&#x2122;s responsibilities. The Company must disclose the following information in the item regarding the appointment of independent directors on the agenda of the shareholdersâ&#x20AC;&#x2122; meeting: (1) The nature of the business relationship or professional service that excludes the nominated independent director from the standard requirements. (2) The reason or need to retain or appoint this person as an independent director. (3) The Boardâ&#x20AC;&#x2122;s opinion on proposing the appointment of this person as an independent director. It is the Boardâ&#x20AC;&#x2122;s policy that an independent director may not be considered to remain â&#x20AC;&#x153;independentâ&#x20AC;? after he or she has completed three (3) consecutive terms or a total of nine (9) years. In this regard, the board will consider the independency of such director every year thereafter. The segregation of duty of the Board of Directors and management The Board of Directors has its duty to govern the operations in accordance with the provisions of the law, the Companyâ&#x20AC;&#x2122;s objectives, articles of association, the resolutions of the shareholdersâ&#x20AC;&#x2122; meetings, and the Corporate Governance Policy. In governing the Company, the directors must exercise their business judgment and act in what they reasonably believe to be the best interests of the Company and its shareholders. The Management is responsible for implementing the Companyâ&#x20AC;&#x2122;s strategy, achieving the planned objectives, and handling the day-to-day administration and affairs of the Company. The segregation of duty of Chairman of the Board of Directors and Chief Executive Officer Both the Chairman of the Board of Directors and the Chief Executive Officer must be competent and have the appropriate experience and qualifications for their positions. In order to maintain a balance between the supervisory and management functions of the Company, one person cannot hold both of these positions simultaneously. The Chairman of the Board of Directors is a non-executive director who acts as the Chairman of both Board of Directors and shareholdersâ&#x20AC;&#x2122; meeting. The Chief Executive Officer is the head and leader of the Companyâ&#x20AC;&#x2122;s executives, and is accountable to the Board of Directors for managing the Company in order to achieve all its planned objectives. Annual Report 2015 Advanced Info Service Public Company Limited

The Scope of Authority and Duties of the Sub - Committees

7KH 6FRSH RI $XWKRULW\ DQG 'XWLHV RI WKH $XGLW &RPPLWWHH w 7R UHYLHZ WKH DFFXUDF\ RI WKH &RPSDQ\tV ILQDQFLDO UHSRUWV in accordance with legally defined accounting principles, and to ensure that there is adequate disclosure; w 7R UHYLHZ WKH &RPSDQ\tV LQWHUQDO FRQWURO V\VWHP DQG internal audit system to ensure that they are suitable and efficient, to determine the internal audit unitâ&#x20AC;&#x2122;s independence, as well as to approve the appointment, transfer, dismissal, performance appraisal and remuneration of the Chief of Internal Audit; w 7R UHYLHZ WKDW WKH &RPSDQ\ FRPSOLHV ZLWK WKH UHTXLUHPHQWV of the Securities and Exchange Commission, SET, and all laws relating to its business; w 7R UHYLHZ WKH RYHUDOO SHUIRUPDQFH RI WKH H[WHUQDO DXGLWRUV and recommend to the Board on the proposal to shareholders on the appointment, reappointment or removal of the external auditors and the auditorâ&#x20AC;&#x2122;s remuneration; w 7R KROG D PHHWLQJ ZLWK WKH H[WHUQDO DXGLWRU ZLWKRXW management in attendance, at least once a year; w 7R UHYLHZ WKH SROLF\ RQ WKH HQJDJHPHQW RI WKH H[WHUQDO audit firm to provide non-audit service to the Company; w 7R UHYLHZ DOO FRQQHFWHG WUDQVDFWLRQV DQG SRVVLEOH FRQIOLFWV of interests to ensure they are in compliance with the laws and regulations of SET to ensure that all transaction are reasonableand beneficial to the Company and all its stakeholders; w 7R UHYLHZ WKDW WKH &RPSDQ\ KDV HVWDEOLVKHG DQ DSSURSULDWH and effective risk management system; w 7R UHYLHZ DQG DSSURYH WKH &KDUWHU RI ,QWHUQDO $XGLW activities, annual audit plan and activities of Internal Audit, and coordinate with the external auditor; w 7R SUHSDUH DQG WR GLVFORVH LQ WKH &RPSDQ\tV DQQXDO report, an audit committeeâ&#x20AC;&#x2122;s report which must be signed by the Audit Committeeâ&#x20AC;&#x2122;s Chairman and consist of at least the following information: (1) An opinion on the accuracy, completeness and creditability of the Companyâ&#x20AC;&#x2122;s financial report; (2) An opinion on the adequacy of the Companyâ&#x20AC;&#x2122;s internal control system; (3) An opinion on the compliance with the law on securities and exchange, SETâ&#x20AC;&#x2122;s regulations, or the laws relating to the Companyâ&#x20AC;&#x2122;s business; (4) An opinion on the suitability of an auditor; (5) An opinion on the transactions that may lead to conflicts of interests; (6) The number of Audit Committee meetings, and the attendance of such meetings by each committee member; 061

w w w

062

(7) An opinion or overview comment received by the Audit Committee from its performance of duties in accordance with the charter; and (8) Other transactions which, according to the Audit Committeeâ&#x20AC;&#x2122;s opinion, should be known to the shareholders and general investors, subject to the scope of duties and responsibilities assigned by the Companyâ&#x20AC;&#x2122;s Board of Directors; 7R FRQWLQXH WKH LQVSHFWLRQ ZKHQ WKH H[WHUQDO DXGLWRU informs regarding any suspicious circumstance that the director, manager or any person responsible for the operation of such juristic person commits an offence under the law on the Security and Exchange and the Audit Committee shall report the result of preliminary inspection to the Office of the Securities and Exchange Commission and the external auditor within thirty days; 7R UHSRUW WKH GLVFXVVLRQ DQG RU GHFLVLRQ RI WKH $XGLW Committee at its meetings and make recommendation as necessary to the Board of Directors at least four times a year. In its performance of duties, if it is found or suspected that there is a transaction or any of the following acts, which may materially affect the Companyâ&#x20AC;&#x2122;s financial condition and operating results, the Audit Committee shall report it to the Board of Directors for rectification within the period of time that the Audit Committee thinks fit: (1) Any transaction which causes any conflict of interest; or (2) Any fraud, irregularity, or material defect in an internal control system; or (3) Any infringement of the law on securities and exchange, SETâ&#x20AC;&#x2122;s regulations, or any law relating to the Companyâ&#x20AC;&#x2122;s business, If the Companyâ&#x20AC;&#x2122;s Board of Directors or management fails to make a rectification within the period of time under the first paragraph, any Audit Committee member may report on the transaction or act under the first paragraph to the Office of the Securities and Exchange Commission or SET; 7R KDYH WKH DXWKRULW\ WR LQYLWH FRQFHUQHG H[HFXWLYHV management and officers of the Company to express opinions, attend meetings or deliver documents as deemed necessary; ,Q SHUIRUPLQJ WKHLU GXWLHV DQG UHVSRQVLELOLWLHV DVVLJQHG the Audit Committee may engage consultants or experts to provide opinions, advice or work, if necessary; 7R UHYLHZ WKH &RPSDQ\tV FRPSOLDQFH ZLWK 5HSRUWLQJ and Investigation of Misconduct and or Fraud and Whistleblower Protection Policy, and consider all concerns of misconduct or fraud and the final investigation report quarterly, and be one channel to receive complaints according to such policy;

w 7R HYDOXDWH WKH VFRSH RI WKH SHUIRUPDQFH RI WKH $XGLW Committee on an annual basis; w 7R UHYLHZ WKH FKDUWHU DQQXDOO\ DQG SURSRVH WR WKH %RDUG of Directors for approval if changes are needed; w 7R SHUIRUP RWKHU GXWLHV DV DVVLJQHG E\ WKH %RDUG RI 'LUHFWRUV of the Company with the consent of the Audit Committee. 7KH 6FRSH RI $XWKRULW\ DQG 'XWLHV RI WKH /HDGHUVKLS 'HYHORSPHQWDQG &RPSHQVDWLRQ &RPPLWWHH w )L[ DSSURSULDWH DQQXDO UHPXQHUDWLRQ LQ PRQHWDU\ DQG RU non-monetary form for the Board of Directors, committee members, and high level executives for the benefit of shareholders as a whole; w 3UHSDUH SROLF\ DQG JXLGHOLQHV WR GHVLJQDWH DSSURSULDWH remuneration of the Board of Directors and high level executives to be proposed to the Board of Directors and/ or the shareholdersâ&#x20AC;&#x2122; meetings for approval; w 5HYLHZ DQG DSSURYH WKH &RPSDQ\tV SHUIRUPDQFH LQ RUGHU to determine the annual KPI bonus and merit - based salary increase across the Company; w &RQVLGHU DQG DSSURYH WKH /RQJ 7HUP ,QFHQWLYH 3ODQ DQG related practices; w &RQVLGHU DQG DSSURYH WKH SHUIRUPDQFH HYDOXDWLRQ RI WKH Companyâ&#x20AC;&#x2122;s Chief Executive Officer and those high - level executives who report directly to the Chief Executive Officer in order to determine their annual bonus, merit-based salary increase and long term incentives; w &RQVLGHU DQG DSSURYH WKH DQQXDO ERQXV DOORFDWLRQ RI WKH Board of Directors; w 'LVFORVH SROLFLHV JRYHUQLQJ WKH GLUHFWRUVt UHPXQHUDWLRQ in the annual report; w ,Q FRQVXOWDWLRQ ZLWK WKH &KLHI ([HFXWLYH 2IILFHU LGHQWLI\ and evaluate potential successors for the Chief Executive Officer position and those high level executives who report directly to the Chief Executive Officer, and report annually to the Board of Directors on executive succession planning; w ,Q FRQVXOWDWLRQ ZLWK WKH &KLHI ([HFXWLYH 2IILFHU SUHSDUH succession planning policies for the Chief Executive Officer position and those high level executives who report directly to the Chief Executive Officer; w 2YHUVHH WKH SURFHVV E\ ZKLFK WKH &KLHI ([HFXWLYH 2IILFHU and high level executives; w (QJDJH FRQVXOWDQWV RU LQGHSHQGHQW SHUVRQV WR SURYLGH opinions or advice if necessary, especially on leadership development; w 7KH &RPPLWWHH LV DFFRXQWDEOH WR WKH %RDUG RI 'LUHFWRUV DQG under obligation to explain its decisions at the shareholdersâ&#x20AC;&#x2122; Annual Report 2015 Advanced Info Service Public Company Limited

meetings, and answer any questions that may arise; w $QQXDOO\ UHYLHZ DQG UHDVVHVV WKH DGHTXDF\ RI WKH FKDUWHU DQG proposed any changes to the Board of Directors for approval; w 5HSRUW UHJXODUO\ WR WKH %RDUG RI 'LUHFWRUV RQ PDWWHUV within the scope of the Committee, as well as any special issues that merit the Board of Directorsâ&#x20AC;&#x2122; attention; w 5HTXHVW PHPEHUV RI WKH PDQDJHPHQW RU VWDII WR DWWHQG the Committee meetings or provide pertinent information on the matters under discussion; w 3HUIRUP RWKHU WDVNV UHTXHVWHG E\ WKH %RDUG RI 'LUHFWRUV 7KH 6FRSH RI $XWKRULW\ DQG 'XWLHV RI WKH 1RPLQDWLRQ DQG &RUSRUDWH *RYHUQDQFH &RPPLWWHH w 'UDZ XS FULWHULD DQG SROLF\ ZLWK UHVSHFW WR QRPLQDWLRQ RI Board members and committee members of the Company; w 6XSHUYLVH LPSOHPHQWDWLRQ RI WKH SROLF\ RQ WKH JRRG corporate governance of the Company, annually review such policy including recommendation of any revision thereof for further consideration by the Board of Directors; w &RQVLGHU DQG QRPLQDWH DSSURSULDWH SHUVRQV WR EHFRPH Board members and/or committee members to be proposed to and approved by the Board of Directors and/ or at shareholdersâ&#x20AC;&#x2122; meetings, as the case may be; and w 3HUIRUP RWKHU WDVNV DV GHVLJQDWHG E\ WKH %RDUG RI 'LUHFWRUV 7KH 6FRSH RI $XWKRULW\ DQG 'XWLHV RI WKH 6XVWDLQDEOH 'HYHORSPHQW &RPPLWWHH w 'HILQH SROLF\ VWUDWHJ\ RSHUDWLQJ WDUJHW DQG VXIILFLHQW budget including any other relevant action in connection with sustainability development and propose to the Board of Directors for approval; w 3URSRVH DQ\ PDWHULDO LVVXHV RI WKH &RPSDQ\ LQ FRQQHFWLRQ with sustainability development to the Board of Directors for consideration; w (QVXUH WKDW WKH LPSOHPHQWDWLRQ RI VXVWDLQDELOLW\ developmentpolicy and strategy meets the target; w $GYLVH DQG DVVLVW WKH &KLHI ([HFXWLYH 2IILFHU FRQFHUQLQJ the sustainability development operations; w 5HSRUW WKH VXVWDLQDELOLW\ GHYHORSPHQW SHUIRUPDQFH WR the Board of Directors; w 5HYLHZ WKH VXVWDLQDELOLW\ GHYHORSPHQW UHSRUW DQG SURSRVH to the Board of Directors for approval; w 3HUIRUP RWKHU WDVNV DV GHVLJQDWHG E\ WKH %RDUG RI 'LUHFWRUV 7KH 6FRSH RI $XWKRULW\ DQG 'XWLHV RI WKH ([HFXWLYH &RPPLWWHH w )RUPXODWH WKH &RPSDQ\tV VWUDWHJLF GLUHFWLRQ PDQDJHPHQW structure, and annual business plan and budget for the Board of Directorsâ&#x20AC;&#x2122; approval; Annual Report 2015 Advanced Info Service Public Company Limited

w 0DQDJH WKH &RPSDQ\tV EXVLQHVV RSHUDWLRQV LQ RUGHU WR achieve the planned objectives and targets; w 0RQLWRU WKH &RPSDQ\tV ILQDQFLDO DQG RSHUDWLQJ UHVXOWV and keep the Board members informed by monthly report; w ,GHQWLI\ DQG HYDOXDWH QHZ EXVLQHVV RSSRUWXQLWLHV w 5HYLHZ DQG PDNH UHFRPPHQGDWLRQV WR WKH %RDUG RI Directors regarding the Companyâ&#x20AC;&#x2122;s dividend policy; w 5HYLHZ DQG DSSURYH DOO WUDQVDFWLRQV FRQFHUQLQJ LQYHVWPHQWV and disposal of assets, human resource management, finance and treasury, general administration and any other transaction related to the Companyâ&#x20AC;&#x2122;s business within the limits of delegated approval authority granted by the Board of Directors; w 5HYLHZ PDWWHUV WKDW UHTXLUH WKH %RDUG RI 'LUHFWRUVt DSSURYDO and make appropriate recommendations with the exception of activities that have been delegated to other Board sub - committees; w &RQVLGHU DQG UHYLHZ WKH &RPSDQ\tV ULVN PDQDJHPHQW and control system; w 7KH &RPPLWWHH PD\ GHOHJDWH LWV DXWKRULW\ WR DQ\ PHPEHU RI the management or staff as it deems appropriate. However, such authority does not permit the Committee or appointed persons to approve any transaction between them or related persons having mutual benefits or conflicts of interest (as prescribed in the Companyâ&#x20AC;&#x2122;s Articles of Association and Notifications of the Securities and Exchange Commission). The approval for transactions shall be in accordance with the policies and principles already determined by the Board of Directors and regulatory bodies; w (QJDJH FRQVXOWDQWV RU LQGHSHQGHQW SHUVRQV WR SURYLGH opinions or advices if necessary; w 7KH &RPPLWWHH PD\ DVN PHPEHUV RI WKH PDQDJHPHQW RU other persons to attend its meetings or provide pertinent information as necessary; w 5HSRUW WR WKH %RDUG RI 'LUHFWRUV RQ D TXDUWHUO\ EDVLV regarding the material actions taken by the Committee under the Chief Executive Officer Report agenda; w $QQXDOO\ UHYLHZ LWV RZQ SHUIRUPDQFH DQG DVVHVV WKH adequacy of the Charter, which may be done in conjunction with the annual evaluation of the Board of Directors and its other committees, conducted under the oversight of the Nomination and Governance Committee; and w 7DNH DQ\ RWKHU DFWLRQ RU DVVXPH DQ\ RWKHU SRZHUV DQG responsibilities that may from time to time be assigned or delegated to the Committee by the Board of Directors.

063

In addition to the Board of Directors and the Sub - Committees, the Company supports the performance of the Board of Directors with the following management team : Management Team1) 1. Mr. Somchai Lertsutiwong 2. Mr. Hui Weng Cheong 3. Mr. Kriengsak Wanichnatee 4. Ms. Kantima Lerlertyuttitham 2)

Chief Executive Officer and Chief Marketing Officer Chief Operating Officer Chief Technology Officer Chief Human Resources Officer

Notes : 1) List of Management Team members as of 1 January 2016 was prepared in accordance with their definitions as stipulated in the notification of the Securities and Exchange Commission. 2) Appointed on 16 July 2015 3) The Company is on process of selecting new executives as the name list specified in page 56 according to succession plan

Nomination of Directors and Management

Criteria and Procedure for Director Nomination w 7KH 1RPLQDWLRQ DQG &RUSRUDWH *RYHUQDQFH &RPPLWWHH is responsible for identifying and selecting qualified candidates to be appointed by the Board of Directors or proposed through the Board of Directors for election at the shareholders’ meetings in accordance with the Company’s Articles of Association. w 7KH 1RPLQDWLRQ DQG &RUSRUDWH *RYHUQDQFH &RPPLWWHH is responsible for annually reviewing the skills and characteristics required of directors in the light of the Board of Directors’ compositions and the Company’s current and future business directions. The Committee must develop a skill matrix to identify gaps in the Board of Directors’ current profile and make recommendations accordingly. In conducting this review, the Committee will also consider diversity in term of skills, experience, knowledge, independence, age, and gender. w ,Q GHWHUPLQLQJ ZKHWKHU WR UHFRPPHQG D GLUHFWRU IRU re-election, the Nomination and Corporate Governance Committee will consider relevant factors such as the director’s performance, history of attendance at and participation in meetings, and other contributions to the activities undertaken by the Board of Directors. In the case of independent directors, their respective independence qualifications shall also be considered. w 7KH DSSRLQWPHQW RI WKH %RDUG PHPEHUV VKDOO FRPSO\ ZLWK the Company’s Articles of Association and all relevant laws. Selection of the directors shall be transparent and clear through initially consider of Nomination and Corporate Governance Committee. In the shareholders’ meeting: (1) Each shareholder shall be entitled to one vote for each shareholding; (2) Each shareholder shall be entitled to cast all the votes as defined under (1) to elect one or several persons 064

to be the Company’s director(s) but cannot split their votes for any particular person or persons; (3) Persons who receive the highest number of votes, arranged in order from highest to lowest in a number equal to that of the number of directors to be appointed, are elected to be the Company’s directors. In the event of a tie at a lower place, which would make the number of directors more than required, the Chairman of the meeting shall have the casting vote. In the case of a vacancy in the position of director, for reasons other than the completion of the term, the Board of Directors shall appoint a new director, with the required qualifications, and without any characteristics that would prohibit him/her from acting as director, to serve as a new director in the board meeting, excluding such case where the remaining term is less than two months. Such appointed director shall assume the position for the remaining term of the vacating director. To approve such new director appointment, a resolution must be passed by not less than three - fourths of the total remaining directors. The Company provides an opportunity for minority shareholders to nominate qualified candidates for election as the Company’s directors in advance, at least three months prior to the fiscal year end date. The information is published as an SET Announcement and on the Company’s website and includes the criteria and consideration procedure. In 2015, no minority shareholder nominated a candidate for directorship. Nomination of Management The Leadership Development and Compensation Committee shall nominate the suitable person(s) to be appointed as the Chief Executive Officer and other senior management positions which report directly to the Chief Executive Officer, including the preparation of a succession plan relating thereto. In this regard, Annual Report 2015 Advanced Info Service Public Company Limited

the Leadership Development and Compensation Committee Term of Membership of Other Sub-Committees shall seek to recruit the qualified person(s) either internally • Members of the Committees may hold their posts for as long as they are serving on the Board of Directors. Any or externally with support from professional consultants if Member who vacates office at the end of their term may required. be re - elected. In addition, the Company shall prepare the succession plan of the high level executives (AVP up) by identifying the • In addition to section (1), membership of the Sub - Committees will be automatically cancelled in the following situations: suitable persons to hold such positions, and shall utilize the (1) Death; human resource development and management system to (2) Resignation; prepare the subordinates for succession. (3) Being disqualified as sub-committee; (4) Removal from office by resolution of the Board of Term of Directors Directors. Term of Directorship • According to the Public Companies Act B.E. 2535 and the Articles of Association, at the annual general meeting of Remuneration for Directors and Management shareholders, one-third of the directors shall vacate office. The Company has specified the remuneration for directors If one-third is not a round number, the number closet which reflect to their duties and responsibilities and at a rate thereto shall be the applicable number. The directors similar to the industry standards and companies of similar who have held office the longest shall vacate. The vacating size. The remuneration is considered to be appropriate to retain quality directors within the Company. The remuneration directors may be re-elected. • In the case of a vacancy in the position of director, for for the directors and management is in accordance with the reasons other than the completion of the term, the Board Company’s operational performance and the performance of Directors shall appoint a new director, with the required of the individuals. qualifications and without any characteristics that would The Leadership Development and Compensation prohibit him/her from acting as director, according to Committee will determine necessary and appropriate article 68 of the Public Companies Act B.E. 2535, to serve remuneration in both monetary and non - monetary terms for as a new director in the board meeting, excluding such the Company’s directors, members of the sub - committees, case where the remaining term is less than two months. and the Chief Executive Officer, including senior executives Such appointed directors shall assume the position for reporting directly to the Chief Executive Officer. Additionally, the Directors’ Compensation Survey published by the Stock the remaining term of the vacating director. Exchange of Thailand and the Thai Institute of Directors Association shall be considered annually. Term of Membership of Audit Committee • A Committee Member shall serve for a term as long as they The remuneration for directors and members of the subare serving on the Board of Directors. A retiring member committees shall be proposed, respectively, to the Board of may be re - elected. For a committee member who has Directors meeting and the Company’s general shareholders’ completed a total of nine years, or three consecutive meeting, which is held on an annual basis. terms, the Board of Directors shall review their respective Directors’ Remuneration independent qualifications each year. • A Committee Member who wishes to resign during his Total monetary remuneration for the Chairman of the or her term of office must give notice to the Chairman of Board of Directors, independent directors, and non - executive the Board of Directors. The resignation date is effective directors totaling 10 persons was Baht 26.77 million. The upon the Company receiving the notice in order that the remuneration was paid from 2015 operating results as Board of Directors can appoint a qualified director(s) in approved by the general meeting of shareholders, held replacement. The Board of Directors must fill the vacancy on 24 March 2015, in an amount not exceeding than Baht within 90 days from the date on which such Committee 28 million which was approved by the shareholders and comprised of monthly allowances, meeting allowances and Member resigned. In the case that all members vacate office except bonus payments. The criteria of payment are the same as otherwise by reason of disqualification or as prohibited by those of year 2014. law, the Audit Committee shall remain in office as necessary until a new Audit Committee is appointed. Annual Report 2015 Advanced Info Service Public Company Limited

065

Directors’ Remuneration Policy for the year 2015 Monetary Remuneration (Baht)

Director

Monthly Retainer

Meeting Allowance

The Board of Directors • Chairman • Member

300,000 75,000

x 25,000

Audit Committee • Chairman • Member

25,000 x

25,000 25,000

Other Sub - Committees • Chairman • Member

10,000 x

25,000 25,000

Bonus

Notes : 1) Directors who are executives or employees of the Company or its shareholders are not entitled to receive such remuneration. 2) Chairman of the Board of Directors is not entitled to receive an additional monthly retainer or meeting allowance when he or she holds any membership of the sub-committees.

The Remuneration for 11 Directors in year 2015 is as follows: Name

Position

Monthly Retainer Meeting Allowance (Baht) (Baht) 1)

Mr. Vithit Leenutaphong

• Chairman of the Board of Directors • Chairman of Leadership Development and Compensation Committee

3,600,000

Mr. Aviruth Wongbuddhapitak

• Independent Director • Chairman of Sustainable Development Committee • Member of Leadership Development and Compensation Committee

Bonus (Baht)

Others

2,900,000

233,065

175,000

200,000

Mr. Surasak Vajasit1)

1,020,000 • Independent Director • Chairman of Nomination and Corporate Governance Committee • Member of Audit Committee

800,000

2,180,000

Mrs. Tasanee Manorot1)

• Independent Director • Member of Audit Committee • Member of Sustainable Development Committee

900,000

775,000

2,075,000

Mr. Ng Ching - Wah

• Director • Executive Committee

375,000

200,000

280,000

Mr. Narulcha Chittreekan

• Director

85,714

25,000

55,000

066

Annual Report 2015 Advanced Info Service Public Company Limited

The Remuneration for 11 Directors in year 2015 is as follows: Name

Bonus from Monthly Retainer Meeting Allowance 2015 Operating 1) (Baht) (Baht) Results

Position

Mr. Krairit Euchukanonchai1)

• Independent Director 1,200,000 • Chairman of Audit Committee • Member of Nomination and Corporate Governance Committee

Mr. Yek Boon Seng

• Director

Mrs. Preeya Danchaivijit

• Director

Mr. Stephen Miller2) Mr. Kan Trakulhoon3)

Others

800,000

3,000,000

326,613

50,000

544,355

75,000

300,000 0

• Director • Executive Committee

522,500

325,000

1,252,500

• Director • Chairman of Sustainable Development Committee

413,710

175,000

1,911,290

Total

9,220,957 3,400,000 14,153,790 0

Notes : 1) Included meeting allowance of Audit Committee for Intouch group which was held in 2015 for 1 time. The meeting objective is to share and exchange knowledge to uplift audit and operating standard of all company in Intouch group. 2) Mr. Stephen Miller was appointed to be Director and member of Executive Committee since the 2 June 2015. 3) Mr. Kan Trakulhoon was appointed to be Independent Director and Chairman of Sustainable Development Committee since the 3 August 2015. 4) The above payment is a transaction during 2015 period. Some directors currently retired/resigned from the Company as details provided under “Management Structure”, page 58.

Management’s Remuneration The Leadership Development and Compensation Committee shall prepare guidelines and policy to designate appropriate remuneration and consider a long-term incentive plan for the Chief Executive Officer and senior executives on an annual basis. The remuneration for the management shall be in accordance with the Company’s short-term and long-term operational performance, the performance of the individuals, and leading group standards and guidelines which are considered to be appropriate to motivate and retain quality executives for long-term benefit of the Company. In 2015, the total amount of remunerations for seven (7) executives of the management team was calculated at Baht 98.56 million comprised of salary, bonus and provident fund and other benefits.

Annual Report 2015 Advanced Info Service Public Company Limited

067

Other Remuneration To enhance the Company’s sustainability for long-term has issued warrants to be converted into the Company’s growth and to promote mutual benefits between the Company, ordinary shares to the management. This is pursuant to the its shareholders and the management team, the Company Performance Share Plan. The details are as follows:

7KH ILUVW \HDU RI WKH SURJUDP LQ Offer price per unit : Baht 0 (zero Baht) Term : Not exceeding 5 years from the date of issuance and offering Exercise Price : Baht 206.672 per share (unless there is an adjustment to the exercise price as prescribed under the terms and conditions of the warrants) First Period of Exercise Date : 1 June 2016, entitled to exercise their rights to purchase once a year 7KH VHFRQG \HDU RI WKH SURJUDP LQ Offer price per unit : Baht 0 (zero Baht) Term : Not exceeding 5 years from the date of issuance and offering Exercise Price : Baht 211.816 per share (unless there is an adjustment to the exercise price as prescribed under the terms and conditions of the warrants) First Period of Exercise Date : 1 June 2017, entitled to exercise their rights to purchase once a year 7KH WKLUG \HDU RI WKH SURJUDP LQ Offer price per unit : Baht 0 (zero Baht) Term : Not exceeding 5 years from the date of issuance and offering Exercise Price : Baht 249.938 per share (unless there is an adjustment to the exercise price as prescribed under the terms and conditions of the warrants) First Period of Exercise Date : 1 June 2018, entitled to exercise their rights to purchase once a year As defined by the notification of the Office of Securities and Exchange Commission, the members of the management team who were granted the warrants are as follows: The Amount of Warrants (unit) No.

Name

2015

Percentage of £¾Ã°» ¦°ÁÁ°½ÃÂ

2014

Percentage of £¾Ã°» ¦°ÁÁ°½ÃÂ

2013

Percentage of £¾Ã°» ¦°ÁÁ°½ÃÂ

Total

1. Mr. Somchai Lertsutiwong

51,600

5.92

29,816

4.38

19,824

4.89

101,240

2. Mrs. Suwimol Kaewkoon

33,171

3.80

27,116

3.99

18,064

4.45

78,351

3. Mrs. Vilasinee Puddhikarant

30,174

3.46

29,816

4.38

20,764

5.12

80,754

4. Mr. Pong-amorn Nimpoonsawat

33,171

3.80

29,816

4.38

21,664

5.34

84,651

5. Mr. Kriengsak Wanichnatee

34,670

3.98

31,216

4.59

7,564

1.86

73,450

068

Annual Report 2015 Advanced Info Service Public Company Limited

Company Secretary

Mr. Chavin Chaivatcharaporn, appointed as company secretary, shall have the duties and responsibilities as designated by the Board of Directors as follows: w 2UJDQL]LQJ WKH %RDUG RI 'LUHFWRUVt PHHWLQJV VXE FRPPLWWHH meetings and shareholdersâ&#x20AC;&#x2122; meetings of the Company w 2UJDQL]LQJ WKH %RDUG RI 'LUHFWRUVt PHHWLQJV DQG shareholdersâ&#x20AC;&#x2122; meetings of the Companyâ&#x20AC;&#x2122;s subsidiaries w 3UHSDULQJ XSGDWLQJ DQG SUHVHQWLQJ WKH FRUSRUDWH governance policy of the Company to the Nomination and Corporate Governance Committee for their approval w 3UHSDULQJ DQG UHWDLQLQJ GRFXPHQWV DV VWLSXODWHG E\ ODZV w 3HUIRUPLQJ RWKHU DVVLJQPHQWV DV UHTXHVWHG E\ WKH %RDUG of Directors and/or its sub-committees.

Head of compliance

As Head of Compliance, Ms. Nattiya Poapongsakorn is responsible for overseeing the Companyâ&#x20AC;&#x2122;s operations and transactions to ensure that the Company is in compliance with SET/SEC regulations for listed companies and other enforcements related to Public Company Limited Acts.

In this regard, the credentials of the Company secretary and head of compliance are provided on page 53.

Annual Report 2015 Advanced Info Service Public Company Limited

069

Good Corporate Governance Corporate Governance Policy

Since 2002, the Corporate Governance Policy has been prescribed by the Board of Directors to apply with all directors, executives, and employees within AIS group. The Company also published in the Company’s website (http:// investor.ais.co.th) in order to communicate with shareholders and others external parties and to welcome them to patrol the Company. The Board of Directors has authorized the Nomination and Corporate Governance Committee to supervise the implementation of the corporate governance policy and annually review such policy so as to incorporate it into the daily business operations and in accordance with the rules and regulations of the Securities Exchange of Thailand. The latest revision also complies with the guidelines of the ASEAN CG Scorecard and the guideline of Dow Jones Sustainability Indices (DJSI). The policy has been consistently communicated throughout the Company via various channel i.e. e-mail, intranet, brochure, internal campaign etc. for their awareness and to facilitate its incorporation into the Company’s normal business operations. The Company also provided insiders/ outsiders whistle blower channel for reporting any illegal activities, acts of misconduct or unethical practices in the Company, while also granting protective measures for whistle blowers in accordance with the Whistle Blower Policy. In 2015, the Company was selected to be listed in the DJSI Emerging Markets to confirm that the Company is operating sustainable development. It also covers economic dimensions, performing good corporate governance, environmental contribution, and social sustainability. The Company has been also recognized as one of the top 50 companies with the highest CG ASEAN Scorecard this year.

Performance Report on Corporate Governance

The Board of Directors The Board of Directors is composed of ten (10) legally qualified experts with wide ranging leadership, vision, expertise and experience in various fields including the telecommunications industry. The Board of Directors has the freedom to consider any matter critical to the business direction of the Company. By stipulating that more than one third of the Board of Directors be independent directors and more than half non - executive directors, the Board of Directors contributes to the absolute benefit of the Company’s shareholders as a whole. In addition, the Chairman of the Board of Directors and Chief Executive Officer shall not be the 070

same person nor have any genetic or business relationship. The Company has separated the roles and responsibilities of the Chairman of the Board of Directors and the Chief Executive Officer. Also, key matters which have a significant impact on business performance require the Board of Directors’ approval. Details of the names and composition of the Board of Directors, the criteria for selection, nomination process and appointment of directors, definition of Independent Directors, and the separation of the roles and responsibilities of the Chairman of the Board of Directors and the Chief Executive Officer are listed in “Management Structure” on page 56 - 61. The Board has set up five (5) committees. Details of Board of Directors and committee structure, including membership and the responsibilities of each committee, are listed in the “Management Structure” section on page 59 - 63. Board of Directors’ Meetings In 2015 the Board of Directors’ meeting was hold 11 times. This is in accordance with the policy to set up the meeting at least 6 times a year. The whole schedule of the meeting will be set in advance to ensure that all directors are able to attend all meetings. Notice of Board of Directors’ meetings and all supplementary documentation are circulated to the Board of Directors at least seven (7) days before each meeting so that each director shall have sufficient time to analyze the information in advance. The detail of number of and meeting attendant of the directors are listed in the “Management Structure” section on page 57-58. In case of there being no Board of Directors’ meeting in any particular month, the Company Secretary will provide the Board of Directors with the monthly operating report for their acknowledgement. The Chairman of the Board of Directors presides over the meetings and ensures that sufficient time is allocated for directors to discuss and express their opinions freely on each item on the agenda. In addition, the relevant management also provides the necessary information for the Board of Directors’ consideration. After each Board of Directors’ meeting, the Company Secretary shall be responsible for circulating the relevant Board of Directors’ minutes within seven (7) days. Non - Executive Directors Sessions The Audit committee and other non - executive directors shall conduct meetings without the presence of executives at least once a year. This is to provide an opportunity to discuss any subjects of interest related to the business operations of Annual Report 2015 Advanced Info Service Public Company Limited

the Company. The conclusion made at each meeting shall be reported to the Board of Directors and the Chief Executive Officer. In 2015, there was 1 non - executive Directors meeting with 7 directors attendance. Succession Plan The Board of Directors has developed a succession plan for the Company’s Chief Executive Officer and executives in order to maintain the confidence that the Company’s business operations shall continue without interruption when these positions become vacant. The Board of Directors has authorized the Leadership Development and Compensation Committee to set up the succession plan which shall be reviewed, updated and reported to the Board of Directors annually. The Company recognizes that employees, not only the executive, are key driving force of the organization. The challenge for the business is a risk of lacking personnel with knowledge and ability which readiness to keep pace with expansion and business changing. The Company is set up succession plan for vacant position and new positions as Corporate KPI in order to focus on staffs empowerment, competency, and advancement; the succession plan is set up for all departments equally and strictly. Also, the Company has advice from professional consultants regarding to support the employees’ knowledge and capability continuously. Communication with Management The Company Secretary shall act as the coordinator between directors and the management team. Board Portal is a communication channel that the director are able to access the significant information and documents of the Company for fast and safety. While the Internal Audit Office shall act as the coordinator between audit committee and management team. The Company shall not obstruct communication between directors and management. However, this access and communication shall not interfere with or interrupt the Company’s normal business operations.

will determine adequate and appropriate remuneration for each person and propose this to the Board of Directors and the shareholders on an annual basis for their approval. The detail of the directors’ remunerations 2015 are listed in the “Management Structure” section on page 66-68. Orientation and Continuing Training for Directors A newly - appointed director has been provided with all necessary business information about the Company required to perform their fiduciary duties. The continuing training and development programs, paid for by the Company, is provided to all director, executives, and company secretary to ensure that they have all the necessary skills and knowledge required to perform their duties efficiently. This program may take a variety of forms such as internal and external courses, overseas trips, and site visits. Board and Chief Executive Officer Assessment 7KH %RDUG RI 'LUHFWRUVt 6HOI $VVHVVPHQW The Board of Directors shall evaluate its own performance as individual and quorum on an annual basis in order to assess and improve the directors’ own fiduciary duties and their compliance with corporate governance policy and good practice as well as to consider the issue occurred this year.

w &ULWHULRQ The evaluation form consists of two (2) key components. &RPSRQHQW , The evaluation is related to the following six (6) aspects of its operation: (i) Board of Directors’ structure and qualifications of the Board of Directors; (ii) The roles, duties and responsibilities of the Board of Directors; (iii) Board of Directors’ meetings; (iv) The Board’s performance; (v) Relationships with management; (vi) Directors’ self - development and executive development. &RPSRQHQW ,, The opinions and suggestions provided by the Board of Directors so as to identify special issues in its performance or any aspects of the Company’s operation.

Remuneration The remuneration for the Company’s directors shall reflect their duties, responsibilities and contribution, and be comparable to industry standards and companies of a similar w 3URFHGXUH The Company secretary will propose the form to size, which also reflects the Company’s overall operation directors every year, then gather and report the result of performance as well as that of each individual’s performance. assessment to the Board of Directors for consideration. The Leadership Development and Compensation Committee Annual Report 2015 Advanced Info Service Public Company Limited

071

Proxy Form B, supplementary documentation, and the procedure for making queries both in Thai and English versions, and posts said information on the Company’s website thirty (30) days prior to the meeting date and also publishes said information on the Stock Exchange of Thailand’s website, including delivering these documents and proxy forms to shareholders twenty one (21) days Rights and Equitable Treatment of prior to the meeting date. Shareholders 4. The shareholders are entitled to raise questions thirty (30) The Board of Directors respects the shareholders’ rights days prior to the meeting date by posting their questions and has a duty to protect the benefits of every shareholder on the websites of the Company and the Stock Exchange equitably regardless of whether they are retail, foreign, of Thailand. institutional or major shareholders. 5. In addition to Proxy Form B enclosed with the meeting Every shareholder is entitled to the rights and equitable notice, the Company prepares Proxy Form A and Proxy treatment detailed as below: Form C, which shareholders can download from the - The right to receive share certificates and share Company’s website to support the shareholders who transfers, and to be sufficiently informed of operating cannot attend the meeting themselves by granting proxy results and management policy on a timely basis. to their representatives or an independent director. At - The right to an equitable dividend. least two (2) independent directors shall be assigned - The right to participate in a meeting, to vote, and to to take proxy for shareholders who will not attend the make recommendations on decisions concerning meeting. The names, credentials and qualifications of major corporate action. the assigned independent directors will be stated in the - The right to elect or dismiss directors. meeting notice. 6. The Company liaises with institutional investors at least Annual General Shareholders’ Meeting fourteen (14) days prior to the meeting date to verify the The Company recognizes the rights and equitable shareholding data and encourage them to attend the treatment of shareholders. Accordingly, the Board of Directors meeting either through their authorized representatives or ensures that the Company organizes annual shareholders’ by granting proxy to the assigned independent directors. meetings in accordance with the laws, best practice and good corporate governance as follows: On the meeting date 1. The Company encourages the shareholders, including Before the meeting date the institutional investors, to attend and participate in all 1. The shareholders are entitled to propose items for shareholders’ meetings. The annual general meeting of inclusion on the meeting agenda and nominate qualified shareholders was held at Centara Grand Central Plaza person(s) to be considered and appointed to be Ladprao. The meeting venue was appropriate for the directors at the shareholders’ meeting. For the 2016 large number of shareholders and convenient in terms annual general shareholders’ meeting, this entitlement of transportation and access. The Company assigned was from 1 October 2015 to 31 December 2015, the sufficient staff to facilitate the shareholders’ meeting rules and procedures of which are posted on the websites registration with a barcode system and the process to of the Stock Exchange of Thailand and the Company. attend the meeting. Nonetheless, the Company did not receive any proposed items for inclusion on the agenda nor any director 2. The Chairman of the Board of Directors, the Audit Committee, the Nomination and Corporate Governance nominations prior to the expiry of the said period. Committee, the Leadership Development and 2. The shareholders are entitled to elect members of the Compensation Committee, and the Executive Committee Board of Directors, fix directors’ remuneration, appoint the including senior executives attended the meeting so as Company’s auditor, fix the auditor’s fee, dividend payments, to address and clarify any queries or concerns of the and other entitlements as stipulated in all relevant law. shareholders. 3. The Company prepares the meeting notice including the purpose and rationale for each item of the agenda, Evaluation of the Chief Executive Officer’s Performance The Leadership Development and Compensation Committee is responsible for setting CEO performance targets and evaluating performance against the annual targets in order to determine the CEO’s compensation.

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Annual Report 2015 Advanced Info Service Public Company Limited

3. The Company conducted the meeting transparently by inviting an independent legal consultant to supervise the voting. 4. The Chairman presided over the meeting in sequence in accordance with the meeting agenda stated in the meeting notice without adding any additional matters and allocated sufficient time for shareholders to present any queries on each item in the agenda. Prior to the onset of the meeting, a company representative explained the meeting procedure and voting method to the shareholders. 5. The Company issued voting cards for each item on the agenda. For the director appointment item, the voting related thereto was organized on a one-by-one basis. The barcode system facilitated faster vote counting to speed up the process and also ensure information accuracy and reliability. 6. Participants were informed of the voting results for each agenda item and received the voting scores without any objection. 7. The Company provided an AGM quality assessment and used a quality assessment score to improve the process and efficiency of the next AGM. After the meeting 1. The Company notifies the resolutions and voting results of the meeting to the Stock Exchange of Thailand promptly, including posting those resolutions on the Company’s own website. 2. The Company secretary prepares the minutes of the meeting and posts them on the Company’s website within fourteen (14) days after the meeting date. The minutes cover all material facts in compliance with the good corporate governance of the Stock Exchange of Thailand and such publications are posted on the Stock Exchange’s website.

&RPPXQLFDWLRQ ZLWK 6WDNHKROGHUV The stakeholders may provide any suggestions to the Board of Directors or report any illegal or unethical action of any director, executive or employee through : 1. Company Secretary Office Advanced Info Service Public Company Limited 414, 28th Floor, AIS 1 Tower, Phaholyothin Road, Samsen Nai, Phayathai, Bangkok 10400 Tel : (66) 2029 5352 Fax : (66) 2029 5108 E-mail : companysecretary@ais.co.th Annual Report 2015 Advanced Info Service Public Company Limited

2. Audit Committee E-mail : AuditCommittee@ais.co.th 3. Investor Relations Tel : (66) 2029 5014 Fax : (66) 2029 5165 E-mail : investor@ais.co.th All suggestions, complaints or reports shall be forwarded to the related departments and all actions taken shall be reported to the Board of Directors. 5ROH WR 6WDNHKROGHUV The Company is aware of the rights of every group of stakeholders, irrespective of whether they have rights as customers, partners, communities, society, or the environment. As a result, the Company has established a policy of providing guidelines for all stakeholders according to legal rights and sustainable co - existence guidelines in the Company’s Sustainability Development Policy, Code of Business Ethics, and Personnel Management Policy, as well as in a variety of other relevant policies of the Company. Additionally, the Company also designates appropriate guidelines and internal control systems and Anti - Bribery and Corruption Policy to prevent corruption in the organization, and assigns the Business Ethic Committee to operate measures or activities for creating the awareness of such matters among employees and partners of the Company. In this respect, the shareholders can study the guidelines for 4 groups of the Company’s stakeholders - community, partners, employees, and customers - and the guidelines on the environment from the sustainability development report 2015. Moreover, the Company still places emphasis on the participation of stakeholders in mutually examining the transparency of business operations in compliance with good corporate governance policy and the code of business ethics, inclusive of the guidelines on anti - corruption. If any of the Company’s employees know of such a violation, he/ she can notify the Company via the Ethics online channel or the Whistle Blowing system. In the case of external stakeholders, he/she can notify the Board of Directors via the Audit Committee at AuditCommittee@ais.co.th. In this regard, the matters so notified shall be further brought into the fact-finding processes, and the informant shall receive the best possible protection from the Company. The shareholders can study additional information from the “Whistle Blowers Policy” as posted on the Company’s website at http://investor.ais.co.th 073

Disclosure of Information and Transparency 1. The Company discloses the Companyâ&#x20AC;&#x2122;s financial and non-financial information, such as Article of Association, Memorandum of Association, Risk Management Policy, financial statements, and analysis and performance report, in accordance with the relevant laws and regulations accurately, completely, punctually, and transparently to all shareholders and investors. As such, the investors can have confidence in the Companyâ&#x20AC;&#x2122;s reliability and integrity. The Company has issued an Information Disclosure Policy applicable to all directors, executives and employees of the Company and its subsidiaries. 2. The Company has set up an Investor Relations Department to be responsible for communicating material information to shareholders, investors, analysts and other stakeholders. In addition, the Company has set up a Compliance unit to ensure that all material information of the Company is properly disclosed through various channels such as the Companyâ&#x20AC;&#x2122;s website, the Stock Exchange of Thailandâ&#x20AC;&#x2122;s website, and this annual report. The communication and disclosure of material information shall comply with the principles stipulated in the Information Disclosure Policy and Corporate Governance policy. The Investor Relations Department can be contacted at : Telephone (66) 2029 5014 Facsimile (66) 2029 5165 E-mail investor@ais.co.th Website http://investor.ais.co.th

3. The Company has specified a period of non - communication with analysts and investors (silent periods) with respect to financial results, including not holding press conferences or disclosing financial information publicly by executive and/or investor relation officers, at least thirty (30) days prior to the specified announcement date so as to avoid any unfair treatment and possibly affecting the Companyâ&#x20AC;&#x2122;s share price. Internal Control and Risk Management Systems As the Board considers the internal control, audit and risk management systems crucial for protecting the shareholdersâ&#x20AC;&#x2122; investment capital and the Companyâ&#x20AC;&#x2122;s assets, it has therefore set up relevant policies, measures and supervising departments, the details of which are listed in the â&#x20AC;&#x153;Risk management Internal control, and Internal auditâ&#x20AC;? section on page 81 074

Code of Business Ethics The Company encourages all directors, managers, and staffs to work and conduct business activities transparently and in compliance with laws, business integrity and ethics. The Code of Business Ethics is part of the Corporate Governance Policy which establishes the guidelines and standards of conduct for all employees in the organization by published via intranet in page of AIS Ethics. The employees are required to sign and acknowledge the Code of Business Ethics upon commencing employment and upon have to acknowledge and understand any code revision. In this regard, the shareholders can study the details in the full version of the Code of Business Ethics at http://investor. ais.co.th The Business Ethics Committee was established in 2006 to oversee the implementation of the Code of Business Ethics and compliance with the Corporate Governance Policy. The Company shall create awareness and conduct campaigns for directors, executives, and employees, who shall operate their work honestly, taking into account the benefits of the Company and its stakeholders. In 2015, the Business Ethics Committee conducted activities to encourage the compliance of business ethics as follows:

0DNH DQ DZDUHQHVV FDPSDLJQ DERXW FRQIOLFW RI LQWHUHVW IRU PDQDJHPHQWV HPSOR\HHV DQG SDUWQHUV The directors, executives and employees may, from time to time, experience a conflict of interest while performing their duties. As a result, the Business Ethics Committee has set up campaigns so as to encourage executives, employees and business partners to be aware of the importance of business ethics, and to create moral values for employees to consider, based upon their own decision. The campaigns were conducted by way of : - Giving lectures to executives and employees including providing Q&A sessions in meeting rooms - Communicating with employees via mass communication methods such as posters in the Companyâ&#x20AC;&#x2122;s common areas - Sending letters to business partners to notify them of the Companyâ&#x20AC;&#x2122;s policy in relation to the receipt of gifts and the participation in business social events

Annual Report 2015 Advanced Info Service Public Company Limited

Thereafter, the Business Ethics Committee has assessed ,QYHVWLJDWLRQ DQG SXQLVKPHQW Enforcing a Code of Business Ethics is very important; the effectiveness of the campaign by requesting executives good governance practices are an essential part of the and employees to complete tests via the intranet so that successful running of the business. The Committee has the campaigns in relation thereto could be improved in the established appropriate punishment for offenders and future. In 2015, the employees (including executive) have ensured protection of the identity of any person reporting cooperated to do the questionnaire for 96.04 percent of total an act of unethical conduct. In 2015, there are 2 breached employees. The average score is 88.2 percent of total scores cases against code of business ethics, detail is shown which over expectation 80 percent of total scores. below: Further, the Business Ethics Committee has set up a channel so as to address and clarify any queries concerning the business ethics of the Company. The employees can contact the committee by e-mail at aisbusinessethics@ais.co.th. Case

Unethical Conduct

Company Action

Employee used his position or authority to hire his relative to be the Company’s contractor without notified to the Company in advance with intended to conceal any related transaction.

After investigation by the Business Ethics Committee, Internal Auditor, and Human Resources Management, disciplinary punishment was imposed in accordance with the Company’s regulations.

Employees coordinated with outsider to charge additional commission on land lease agreement from the landlord, where the Company agreed to lease for building the site.

After investigation by the Business Ethics Committee, Internal Auditor, and Human Resources Management, disciplinary punishment was imposed in accordance with the Company’s regulations.

Anti-Bribery and Corruption Policy

The Company is committed to conducting the business with integrity, transparency, and good corporate governance principles. The Company is against any giving or receiving bribery and corruption due to it may threaten free and fair competition and damage economic and social matter development. The Board of Directors has recognized the importance of Anti-Bribery and Corruption then set up the policy to be guideline for the operation of directors, executives, and employees. The Anti-Bribery and Corruption Policy has been published on the Company’s website at http://investor.ais.co.th

Participation in Thailand’s Private Sector Collective Action against Corruption - CAC

On 16 December 2013, the Company signed Thailand’s Private Sector Collective Action Coalition against Corruption (CAC) to jointly declare its intention to counter corruption and not to accept any dishonesty in consequence of the Annual Report 2015 Advanced Info Service Public Company Limited

Company’s business operations or the operations in the organization. The Company aims to operate its businesses with honesty and transparency in compliance with laws related to anti-bribery and anti-corruption and with the good corporate governance policy of the Company because organizational corruption is a risk to the sustainable growth of business operations. The Company is aware of anti-corruption in every form without exception and shall not participate in corruption, either directly or indirectly. Every director, executive, and employee of the Company shall adhere to and comply with the anti-corruption policy. In addition, the Company also arranges campaigns and communicates appropriate knowledge to the related parties both inside and outside the organization in a continuous manner via the Business Ethics Committee. On 15 December 2015, the Company has submitted the documentation applying for certificate of CAC membership. Nowadays, CAC publicly announced that the Company being certified as one of CAC member. 075

Monitoring the Business Operations of 6. Monitor the subsidiaries and associated companies to operate business under the rules and regulation of Subsidiaries and Associated Companies

competent authorities including connected transaction, The Board of Directors has monitoring each Subsidiary asset acquisition and deposition, information disclosure, and Associated Companyâ&#x20AC;&#x2122;s business operations for the best and accounting and financial statement report; interest of shareholders as follows : 1. Support the Subsidiaries and Associate Companies to 7. All transactions in any subsidiary, which may significantly affect the business operation or financial status of the perform their duties in compliance with good corporate Company, must be reviewed and approved by the Board governance policy; of Directors of the parent company; 2. The Board of Directors selects the representative of the Company to be appointed as directors of the 8. Being audited by the Companyâ&#x20AC;&#x2122;s Internal Audit Department to ensure that there is sufficient and effective Subsidiaries and Associated Companies in order to internal control system; monitor and control business performance in proportion 9. In order to disclose the financial information and operating to its shareholding percentage; results of the subsidiaries, the Company has engaged 3. Monitor through representative directors, executives, and auditors from the same auditing firm that provides policies which were issued at the parent company level; auditing services for the Company to perform audits and 4. Consider any significant matter including strategic, disclose the financial and non-financial information of the business plan, capital increase/decrease, dissolution, Subsidiaries in the consolidated financial statements of and any other important policies; the Company. 5. Follow up the performance result through the Companyâ&#x20AC;&#x2122;s executives, Executive Committee, and the Board of Directors;

076

Annual Report 2015 Advanced Info Service Public Company Limited

Our Business in a Sustainable Way

Under the rapid change of technology which leads to the transformation of customer behavior from mobile phone usage to digital service usage. This has changed an environmental competition in more challenging way. AIS’ stakeholders has been widely touched another industry and related business. An important thing to support the Company’s ultimate goal in doing business in a sustainable way is to be accepted among all stakeholders. AIS is committed to operate business in a sustainable way with our considering the impact we made to the society and environment as well as the expectation of our key stakeholders i.e. communities, partners, customers, and our people. We have established the sustainability policy and strategy to guide and shape the way we do business. We are striving to build trust and gain license to operate from all Thais under the ultimate goal, “The Most Admired Company”.

Annual Report 2015 Advanced Info Service Public Company Limited

To allow all key stakeholders to understand more about our way of sustainable business, we published “AIS sustainability report 2015” in accordance to the Global Reporting Initiatives revision 4 (GRI G4). Within this report, we have disclosed our sustainable business policy, strategy, material issues and management approach. Our sustainability report is available on website at http://investor.ais.co.th and upon request in hard copy.

077

Relationship with Investors

We are committed to delivering the highest standards of disclosure with accuracy, completeness, fairness, transparency, quality, and timeliness in all communications with our shareholders and the investment communities. The AIS Investor Relations Department reports directly to the Chief Finance Officer. We provide Company information including financial and operational performance as well as business direction from a management perspective. The quarterly Management Discussion and Analysis (MD&A) contains quarterly operating results, significant events affecting the financial results, guidance, and other crucial information for investors. The guidance is revisited during the year in accordance with the ongoing results. Fully understanding the crucial importance of investor relations, AIS management allocates an appropriate amount of time for investor relations activities. Our senior management regularly participates in and presents company strategy and business direction at investor meetings, analyst briefings, quarterly results meetings, and domestic and international conferences and roadshows.

078

AIS Investor Relations website (http://investor.ais.co.th) contains essential sources of information for investors, including historical performance, financial statements, conference call replays, annual reports, Form 56-1, SET disclosure, an investor calendar, shareholder meeting announcements, AIS share information, dividends, corporate governance news, sustainable development information, and more. Moreover, in order to keep investors informed about important issues, AIS regularly delivers IR news releases, including company news, earnings releases, and updated promotions. AIS has also established the Compliance Department, which is responsible for the disclosure of information to the Stock Exchange of Thailand (SET) and the Securities and Exchange Commission (SEC) to ensure that the Company complies with all applicable laws and regulations. In addition, the Company has regularly organised investor activities, which have been attended by various Company executives as shown in the following table:

Annual Report 2015 Advanced Info Service Public Company Limited

Activities Related to Quarterly Results Announcement Activity

Results Conference Call

Analyst Briefing

Opportunity Day by SET / Investor Briefing at Brokerage Firm

2015

Quarterly (4 times)

Objective

Quarterly results announcement and Q&A

Attendees

Local and foreign analysts Chief Executive Officer and institutional investors / Chief Operating Officer/ Chief Finance Officer

Semi - annual Presentation of the Analysts and local and annual Company’s semi - annual institutional investors (2 times) and annual performance, strategy and Q&A Quarterly (5 times)

Quarterly results announcement and Q&A

Executive

Retail investors, investment consultants and analysts

Chief Executive Officer / Chief Finance Officer / other members of management team Investor Relations Team

Investor Activities Activity

2015

Objective

Attendees

Executive

Road Show/ Conference (domestic and international)

18 times

Communicate business Local and foreign direction, performance and institutional investors strategy

Company Visit

85 times*

Provide access to Local and foreign analysts Chief Executive management for and institutional investors Officer / Chief discussing the Company’s Finance Officer performance, direction, and strategy

Chief Executive Officer / Chief Finance Officer

*Note : It is the number of meetings occurred during 2 January - 2 October 2015 because after 3 October onwards the Company entered silent period for 3Q15 results announcement. It was also followed by the silent period of spectrum license auction until the completion of the auction on 19 December 2015.

In 2015, AIS Investor Relations’ achievements and standards received due recognition in the form of prestigious u2XWVWDQGLQJ ,QYHVWRU 5HODWLRQV $ZDUGVv for SET market capitalization of over Baht 100 bn. from the Stock Exchange of Thailand. The AIS IR team provides shareholders and investors with a direct point of contact by telephone at : +662 029 3112, +662 029 5014; by fax at : +662 029 5165; or by email at : investor@ais.co.th

Annual Report 2015 Advanced Info Service Public Company Limited

079

Policy on Use and Disclosure of Inside Information The Company is strongly committed to the responsible and transparent use of internal data under best practices. In doing so, the Company is resolved to adhering to the principles of good corporate governance and business integrity while facilitating equal access to complete, reliable, and updated internal information for all investors and concerned parties. Accordingly, the Company monitors and tracks all of the internal data usage and trading securities procedures of directors, executives, and employees to ensure conformance with the Securities and Exchange Act and business transparency. Outlined below are some of the key points of the policy: w 'LUHFWRUV H[HFXWLYHV DQG HPSOR\HHV DW DOO OHYHOV DUH forbidden from using internal data containing crucial information that would have a significant impact on the stock price and which has not yet been declared to the public or the Stock Exchange of Thailand for trading to the advantage of themselves or others. Furthermore, the aforementioned parties are to avoid or refrain from trading the Companyâ&#x20AC;&#x2122;s stock for 1 month prior to the announcement date of the Companyâ&#x20AC;&#x2122;s results. w 7KH &RPSDQ\ LV UHVSRQVLEOH IRU DQQRXQFLQJ LQIRUPDWLRQ to the public regarding key Company decisions and/or actions, instantly and thoroughly, via appropriate and acceptable media to ensure that all data and information are accessible to stakeholder groups in a timely manner. Release of such information must be handled through the Investor Relations Department and Public Relations Department and in a manner congruent with the rules and regulations set out by the Stock Exchange of Thailand and Disclosure Policy. w 'LUHFWRUV DQG H[HFXWLYHV VKDOO UHSRUW RZQHUVKLS RI DOO securities issued by the Company, including those that pertain to self, spouses, and/or underage children, to the Securities and Exchange Commission and to the Board of Directors on a quarterly basis. w 7KH &RPSDQ\ PDLQWDLQV D VWULFW SROLF\ UHJDUGLQJ computer system usage and electronic information security in order to protect crucial information from unauthorised release. Misuse of internal Company data by directors, executives, or employees is considered a serious breach of Company policy and, in warranted cases, offenders will be prosecuted to the fullest extent of the law.

080

w 7KH ,QYHVWRU 5HODWLRQV 'HSDUWPHQW LV IRUELGGHQ IURP discussing forward-looking statements or making any comments on information pertaining to the following 6 months in order to comply with the Stock Exchange of Thailandâ&#x20AC;&#x2122;s rules and international best practices; however, the long - term view regarding the Companyâ&#x20AC;&#x2122;s strategic direction and business trends can be discussed. w 7KH ,QYHVWRU 5HODWLRQV 'HSDUWPHQW LV REOLJHG WR GHFODUH quiet periods to investor communities one month ahead of the results announcement date. During the corporate silence period, the Company refrains from answering any inquiries with regard to the upcoming financial results and Company guidance. Exceptions are made only for the discussion of factual business information, clarifications of disclosed information, new events concerning share price sensitive information, and long-term business operations. Any arranged meetings with analysts and/or investors are not accepted in this period, and shall strictly be confined to discussions on long-term business operations only. The Company has a Disclosure Policy outlining the official procedures for information disclosure. The policy is developed based on the principles that the disclosure of corporate information shall be in compliance with applicable legal and regulatory requirements. Disclosure of all corporate information shall be accurate, adequate, timely and consistent, regardless of whether it has a positive or negative impact on the Company, the investors, or the market. All non-public information shall be disclosed in a manner which ensures fair and equitable access by all investors. The policy stipulates responsible positions, levels of disclosure, and communication procedures. The policy reinforces the standards of disclosure and follows the principles of market efficiency.

Annual Report 2015 Advanced Info Service Public Company Limited

Risk Management, Internal Control and Internal Audit Risk Management

In order to manage and maintain risks at an acceptable level, the Company has established an Enterprise Risk Management Policy and Framework. Applicable to all operations and all employees, the policy and framework include measures such as encouraging employees to take continuous personal responsibility for self-assessing risk and developing internal control systems to strengthen the

effectiveness of the internal control and risk management systems. The Company has in place proper and effective risk management systems, which are aligned with the integrated framework of the Committee of Sponsoring Organizations of the Treadway Commission (COSO) (Further information on risk - assessment is shown on page 85)

1 Set Objective

Monitor

Identify Events

AIS Risk Management Framework & Procedures

Control Activities

Assess Risks

4 Risk Response

7KH VWHSV LQ WKH ULVN PDQDJHPHQW SURFHVV DUH 1. Set both corporate and functional level objectives which are aligned with the Companyâ&#x20AC;&#x2122;s corporate strategy and are within its risk appetite levels as approved by the Board of Directors and reviewed annually. 2. Identify the events that could have a negative impact (risks) on the Companyâ&#x20AC;&#x2122;s ability to achieve its goals and its targets from both internal factors, for example, operational processes, and human resources, and external factors, for example, customers, the economy, politics, and regulations. 3. Assess the identified risks by considering the likelihood of the risk occurring and the potential impact if the risk occurred. 4. Plan risk response measures with consideration given to the level of risk involved and the corresponding cost and benefit. 5. Establish control activities to help ensure that the desired risk responses are implemented as intended and are effectively carried out. 6. Monitor and report the status of the risks and the effectiveness of the risk management processes.

Annual Report 2015 Advanced Info Service Public Company Limited

081

The Company emphasizes the importance and value of risk management by appointing the Chairman of the Executive Committee as the Chairman of the Risk Management Committee. The Chairman is joined on the Risk Management Committee by the Chief Executive Officer and other members of senior management. The committee is responsible for establishing the Risk Management Policy and Framework, which includes identifying risk, assessing

and rating the risks, defining the risk management concept, and assigning responsibilities to those in charge of managing and controlling the risks to be maintained within approved risk appetite levels. This enables the Company to accomplish its goals and strategies and create confidence for all shareholders and stakeholders. The Company has established a Risk Management working structure as depicted in the following chart:

Board of Directors

Audit Committee

Executive Committee Risk Management Committee Chairman of Executive Committee (RMCâ&#x20AC;&#x2122;s Chairman) Chief Executive Officer (Vice-Chairman)

Enterprise Risk Management (Secretary)

The Chief Executive Officer is responsible for implementing the Risk Management Policy and Framework throughout the Company. The policy and framework are communicated via the senior management of each business unit to all employees in order to set the risk management objectives, identify the risks, and manage those risks at the operation level. The Chief Executive Officer continuously monitors the risk management results to ensure the risk management systemâ&#x20AC;&#x2122;s effectiveness and efficiency in accomplishing the Companyâ&#x20AC;&#x2122;s goals and strategies. In 2015, the Risk Management Committee held quarterly meetings in order to review and follow up on the accomplishments of its risk management strategy. This was achieved by comparing the management action plans 082

C-level Executive (Member)

Head of Legal (Member)

against the reliable measured results of the plans. At each meeting, the responsible management representative reported the results of the risk management approach identified in the previous meeting to the Risk Management Committee. The topic was then discussed by the committee to determine whether the risk level has been successfully mitigated, thus resulting in effective risk management. The Risk Management Committee submits its report on risk management to the Audit Committee, the Board of Directors and the Executive Committee for close monitoring to ensure that its risk appetite is acceptable and that the Company is able to accomplish its goals. In 2015, the Company disseminated knowledge and provided training on the subject of risk management for Annual Report 2015 Advanced Info Service Public Company Limited

executives and employees at all levels. The aim of this knowledge - sharing exercise was to enable management and employees to apply the risk management process under their responsibility efficiently and effectively. In 2015, the following 3 courses were provided : w 5LVN 0DQDJHPHQW )DFLOLWDWRUV &RXUVH Classroom training and workshops to provide the representatives of each function unit with better knowledge and more effective understanding of the risk management process and practices in their own unit while also enabling them to share their own knowledge and best practices with their colleagues and subordinates. In 2015, 126 employees completed this training. w ( OHDUQLQJ RQ ULVN PDQDJHPHQW IRU PDQDJHU OHYHO This E-learning course aimed to provide knowledge and understanding of the risk management process and to enable the employees to apply the risk management practice in their responsible task. In 2015, 406 persons participated in this training.

w .QRZOHGJH VKDULQJ RQ ULVN PDQDJHPHQW IRU H[HFXWLYHV This training aimed to provide executives with better understanding of the Risk Management Policy and Framework in order for them to satisfactorily and effectively implement risk management under their supervision and comply with both company policy and external guidelines. Business Continuity Management The Company has set in place a risk management system in the form of a business continuity management to cope in the event of natural disasters or any other situations that are beyond the Companyâ&#x20AC;&#x2122;s control and which have the potential for causing an interruption to the core operating system and a loss of company property and personnel. To support this system, the Company has established the Business Continuity Management Committee, comprised of top executives from each business unit and chaired by the Chief Executive Officer, to oversee the effectiveness and sustainability of the Companyâ&#x20AC;&#x2122;s business continuity management.

The Business Continuity Management (BCM) process comprises of 4 main steps

Preparation of the BCP

Review & Improvement of the BCM System

The BCM CYCLE

Deployment of the BCP

Exercise of the BCP

Annual Report 2015 Advanced Info Service Public Company Limited

083

w 3UHSDUH EXVLQHVV FRQWLQXLW\ SODQ Prepare a business continuity plan to cope in the event of a disaster in accordance with the objectives of the business continuity management of the core business processes. w 'HSOR\ EXVLQHVV FRQWLQXLW\ SODQ Distribute the approved business continuity plan to all related parties and ensure its understanding. w &RQGXFW EXVLQHVV FRQWLQXLW\ SODQ SUDFWLFH GULOOV Arrange to conduct business continuity plan practice drills according to the defined schedule and targets; update the plan to make it current and report the results of the practice drills to the commander accountable for the business continuity plan; gain acknowledgement from the Business Continuity Management Committee. w 5HYLHZ ,PSURYH EXVLQHVV FRQWLQXLW\ PDQDJHPHQW V\VWHP Review and improve the business continuity management system to ensure its effectiveness and alignment with the risk level currently faced by the Company. AIS’s Business Continuity Management Committee has assigned senior executives and the heads of related parties to prepare the business continuity plan to ensure continuation of the critical business processes which have a direct impact on the Company’s ability to deliver its Critical Services. It is the responsibility of all management and staff to support the activities related to business continuity management, such as the preparation of the business continuity plan; the allocation of resources according to the business continuity plan, especially in the practice drills; and the review of the plan to ensure the effectiveness of the Company’s business continuity management. In year 2015, AIS conducted business continuity plan practice drills on the continuation of critical business processes, such as coping with a critical situation at our exchange which caused an interruption of our network and services. The Company also reviewed and updated the plan to align it appropriately with the current situation and ensure that the Company is ready and able to respond to and manage a variety of situations in times of crisis.

084

Internal Control

AIS fully understands the importance of internal control system as a mechanism to reduce, manage risks, and prevent events which might negatively affect the Company and its stakeholders. The internal control system contributes to business success through ensuring that operation is effective, resources are being utilized efficiently, assets are properly safeguarded (Operations); internal and external report including financial reports are reliable (Reporting); business practices strictly comply with all relevant regulatory requirements (Compliance). The Board of Directors regularly oversees the internal control system of the Company to ensure that it is effective, efficient, and being conducted continuously. The Board of Directors applies the “Internal Control Integrated Framework” which comprises 5 components and 17 principles, developed by The Committee of Sponsoring Organizations of the Treadway Commission (COSO), to the Company and its subsidiaries’ internal control systems to promote standard business practices leading to objective achievement at every functional level. In the Board of Directors meeting no. 2/2016 on 4 February 2016, the directors, which include 4 independent directors, have assessed the adequateness of the Company’s internal control system using the assessment form provided by the Securities and Exchange Commission Thailand (SEC) and concluded that the overall internal control system is adequate and effective. Additionally, the Company’s external auditor, KPMG, evaluated the effectiveness of the Company’s internal control system in 2015 and concluded that the Company has effective, sufficient, and appropriate internal control system. AIS Internal Control System comprises 5 Components and 17 principles as follows. &RQWURO (QYLURQPHQW The Board of Directors is aware that control environment is the foundation of the organization’s effective internal control system. The Company’s good control environment is achieved though vigorous promotion of integrity and ethical value, leaders being role model in both personal and business conduct, and establishment of clear reporting line and responsibility resulting in personnel understanding what are being expected from them. The Board of Directors is independent from the Management and has sufficient skills and expertise to Annual Report 2015 Advanced Info Service Public Company Limited

oversee the Management. And with board oversight, the Management established organizational structure and reporting line separating them into main operating functions and quality assurance functions to create proper check and balance. Clear delegation and limitation of authorities in both executing and operating level are established. The Management sets targets and performance indicators annually in the business plan and communicated them to the executives and personnel. The targets are revised semiannually to align with the changing environment and competition, reducing excessive pressure to the personnel. The performance results and rewards relating to the business plan are communicated. The Company’s executives and personnel have sufficient knowledge and skills needed for their duties and responsibilities. The Board of Directors conducts succession plan for key executives and personnel to ensure uninterrupted business operation. Human resource development policy is established based on framework of career path, developing both business knowledge and soft skill. The Company also encourages and supports personnel to apply for professional certification such as information security certificates, technical certificates, and international standard certificates. AIS emphasizes on executive and personnel’s commitment to integrity and ethical value, establishing Code of Business Ethics as standard to guide conducts of every executive and personnel. Moreover, the Company has a Whistle Blower Policy, providing separate communication channel to receive complaints on possible fraud and misconducts from both internal and external parties. All complaints are investigated, concluded, used as basis to improve the internal control system, and reported to the Audit Committee and/or the Board of Directors to demonstrate the Company’s commitment to integrity, transparency, and responsibilities to every group of stakeholders. On each year, the Internal Audit office assesses personnel’s understanding and adherence to Code of Business Ethics and reports it to the Business Ethics Committee, for re-evaluation the Company’s activities to promote business ethics, and to the Audit Committee, for their acknowledgment. In 2015, questionnaires were sent to executives and personnel of the Company, its subsidiaries, outsource and vendor company to assess their understanding in the code of business ethic. The assessment result based on 11,000 employees, and replying outsources and vendors indicated good understanding in the Business Ethics. Annual Report 2015 Advanced Info Service Public Company Limited

5LVN $VVHVVPHQW Amidst the business environment where uncertainties arises both internally and externally resulting in opportunities or threats to the Company, the Company has Risk Management Policy to ensure that business objectives can always be achieved. The policy establishes risk management framework, define duties and responsibilities in managing risks. Risk management manual is prepared to provide guidance to every level of executives and personnel to manage risk to be within acceptable level. Additionally, the fraud risk management framework is also established to manage risk of fraud from internal and external parties. AIS sets clear business objectives on the annual business plan with objective areas including service revenue, network quality, customer experience, collection and payment, human resource management, asset management, and regulatory compliance. The objectives are also specified at department and functional levels aligning with the Company’s vision, mission, objectives, and strategic directions. The personnel are communicated of the clear objectives including their duties and responsibilities toward those objectives. Every executive and personnel in the organization is responsible for risk identification and assessment based on methodology stated on the risk management manual; defining acceptable level of risk at corporate and department levels; monitoring the risks to be within the acceptable level. To enable entity-wide systematic risk management at every level, ERM Facilitator staffs are appointed and trained to coordinate and support systematic risk management in each department, prepare risk management plan for their executive to monitor its risk management effectiveness, and promote Control Self-Assessment in their department. The Company establishes Fraud Risk Management Framework which determines procedures, duties and responsibilities, fraud risk assessment methodology, various fraud risk scheme and scenario - internal & external frauds according to ACFE framework’s risk categories to guide departments, such as Security Team, Fraud Management, Procurement, Accounting Department, in identifying and assessing every possible fraud risks. Risk from significant changes in the telecommunication industry are carefully assessed in order to manage them properly in a timely manner. For example, 4G service was considered to be technology significantly impacting the operation and thus have been classified as a corporate risk to be managed thoroughly. 085

&RQWURO $FWLYLWLHV The Company selects and develops control activities to be appropriate with the specific risk and characteristic of the Company in terms of the business environment, complexity, type and scope of operation, or other specifications. Different approaches of control activities such as manual or automated controls, preventive or detective controls are considered and mixed to manage risks. Responsibility for approving, recording, and asset handling have been considered and segregated to properly create check and balance. For business process on technology system, the Company selects and develops various general controls over technology to ensure that the technology and IT systems of the Company can always operate without interruption and safe from unauthorized access. The general controls include technology infrastructure controls, security management controls, and technology development and maintenance controls. AIS deploys its control activities through written policies and procedures which clearly specifies responsible personnel, control timing, error correction protocols to ensure that the control activities are practical and can be carried out accurately. The policies and procedures are periodically revised for appropriateness. The Company has established policies to ensure that all business decisions are approved based on the Company’s interest, and on an equitable agreement with independent parties (arm’s length transaction). The associated companies and subsidiaries are subjected to the equivalent policies and are monitored by their directors or management appointed by the Company. ,QIRUPDWLRQ DQG &RPPXQLFDWLRQ AIS uses relevant and quality information to support internal control. Data is gathered from internal and external considering costs and benefits. The data are gathered and processed by information systems into information supporting the functioning of internal control. The Company has an internal communication system to relay internal control’s objectives, policies, procedures, and accountabilities to every level of personnel. Various communication channels are appropriately selected for the communication efficiency and effectiveness. For examples, there are internal communications via the intranet, newsletters, ‘CEO Talk Weekly’, and confidential Whistle Blower Hotline. 086

The Company reports material information to the Board of Directors. The board members have access to and can request reviews of any information needed to exercise their oversight responsibilities. They can freely communicate with the external auditors, internal auditors, and other established contact persons other than the senior management. Extraordinary formal or informal meetings with the management can also be arranged. The Company has an efficient communication system for external stakeholders using proper channels to support internal control. For examples, there are communications via the internet, social media, investor relations, service quality complaint centers, and Whistle Blower Hotline to the Audit Committee via AuditCommittee@ais.co.th. 0RQLWRULQJ $FWLYLWLHV To monitor effectiveness of internal control system, the Company instructs managers and supervisors in each department to continuously assess effectiveness of their internal control system on all 5 components and 17 principles by considering whether important controls are in place (Present), operating continuously and effectively (Functioning) to identify any internal control system deficiencies investigating their causes and remediate them. There are also separate evaluations from independent parties such as internal auditors or external quality assessors. The frequency of the evaluations varies on rate of changes occurring. When significant internal control deficiencies are identified, the executive has to analyze root cause of the deficiencies to communicate with responsible parties for timely corrective actions. Material deficiencies and their correction progress are reported to the Board of Directors and the senior management as appropriate. Fraud incidents or clues, violation of law, or any other irregularities which may materially affect the Company’s reputation or financial position has to be immediately informed to the Board of Directors. Internal Audit The Internal Audit Office reported directly to the Audit Committee who oversees the internal audit’s independence, objectivity, integrity, and professional adherence to the internal audit standard. The office reports administratively to the Chief Executive Officer.

Annual Report 2015 Advanced Info Service Public Company Limited

The Internal Audit’s duties include provision of assurance and consulting service through effectiveness and efficiency assessment of internal control system, risk management system, and governance supporting the Company’s achievement of business objectives and targets. The internal audit operates under internal audit charter which specifies internal audit mission, scope, authority, duties and responsibilities, and procedure. The charter has been revised for its appropriateness periodically. The Chief Audit Executive (CAE) acts as the secretary to the Audit Committee supporting their oversight responsibilities which is assigned from the Board of Directors. Additionally, the CAE gives advices relating to the internal control, risk management, business ethics, information security etc. (Further information about the CAE is shown on page 53). The Internal Audit prepares its annual audit plan aligning with the Company and its subsidiaries’ strategic directions and based on risk-based approach focusing on high risks to the Company’s operations, objectives, and strategy. Assurance services relating to fraud prevention measures are also included. The Audit Committee approves the annual audit plan, acknowledges audit results, and monitors follow - up of the Management’s action plan as recommended by the internal audit. The Office is another secured channel to report any complaints on possible misconduct and fraud. All case tipped by internal staffs or external parties will be act on in accordance with the Whistle Blower Policy. The case results are reported to the Audit Committee quarterly. The Office promotes and trains the Company and its subsidiaries to understand and effectively implement internal control system; gives consults relating to the SEC questionnaire on internal control; and evaluates internal control system in every audited process based on internal control framework - COSO 2013. In its role relating to CSA, the Office facilitates CSA implementation by offering counseling and group-training workshops (CSA Facilitator) and evaluates the effectiveness of CSA implementation by the supervisors (CSA Validation). Pursuant to the Company’s vision to offer various digital products and services. Information technology systems are crucial and are consistently developed and updated to support changing product and services. The Internal Audit provides recommendations during the development of business systems to ensure that sufficient and effective internal controls are in place before the launch; and provide Annual Report 2015 Advanced Info Service Public Company Limited

IT assurance service after the system has been launched. The Office also audits information security management system in the Company per compliance with ISO 27001:2013 standard. The Internal Audit adheres to the International Professional Practices Framework and the internal audit charter. The Office revises the internal audit manual and conducts the internal audit’s quality self-assessment on an annual basis. It also receives the external assessment every five years. And in the last external assessment in 2011, the office ‘generally conforms with the international standards’ and ‘performed remarkably well in relation to the qualitative benchmarking against high performing internal audit functions internationally’. This enhances the Company’s reputation and supports sustainable development of internal control, risk management, and governance system, adding value to the stakeholders. To keep the internal audit operation of the Company up-to-dated with the international practice, the Office follow update on standards and practices relating to internal control system, risk management, good governance, and other field relating to the Company’s business presented by leading domestic and international profession institutes to consider applying them to the Office’s operation. The Internal Audit Office encourages all internal audit staffs to be integrated auditors who can perform various aspects of audits which include business, information technology and engineering systems audits; and be innovative in developing more effective audit techniques. There is also a strong focus on staffs’ professional development. At present, staffs in the Internal Audit Office have total of 32 professional certificates which are seven Certified Internal Auditors (CIA), five Certified Information System Auditors (CISA), one Certified Information Systems Security Professional (CISSP), ten Certification in Risk Management Assurance (CRMA), three Certified Public Accountants (CPA), one Tax Auditor (TA), four Information Security Management System Auditor/Lead Auditor certificates (ISO/IEC 27001:2013), and one Business Continuity Management System Auditor/Lead Auditor (ISO 22301). The remaining staffs are studying to acquire CIA, CISA, CRMA, CCSA (Certification in Control Self-Assessment), and CFE (Certified Fraud Examiners).

087

Related Transactions The Company and its subsidiaries have entered into related transactions with connected persons. All of these related transactions are made in the ordinary course of business and on general trading conditions. To be aligned with the Security and Exchange Act (No. 4) B.E. 2551, Article 89/12 (1), the Companyâ&#x20AC;&#x2122;s Board of Directors has approved in principle, on 13 August 2008, that the management shall have the authority to undertake the related transactions, whereas those transactions are transactions with general trading conditions. The approval of the above transactions shall not constitute such authority to allow the director, an executive, or a related person to approve with a conflict of interest. For approval process, the related transactions shall be processed in the same practice as other general trading transactions with outside parties with the authorized executives designated and empowered to endorse up to Related parties/Relation to the Company

,QWRXFK +ROGLQJ &RPSDQ\ /LPLWHG ,1728&+ INTOUCH is a major shareholder, holds 40.45%, and has joint directors 1. Mr. Somprasong Boonyachai 2. Mr. Vithit Leenutaphong

088

Detail of transactions

a certain limit of budget according to their respective rank and position. The Audit Committee of the Company and its subsidiaries is responsible for reviewing the related transactions every quarter to ensure that no conflict of interest will be occurred in order to maximize the overall companyâ&#x20AC;&#x2122;s benefits. For the fiscal year ended 31 December 2015 and 2014, the Company and its subsidiaries had the related transactions in which the auditors had disclosed in the notes to audited financial statements and these transactions have been reviewed by the Audit Committee. The Audit Committee had an opinion that all related transactions are reasonable and based on the normal course of business. The Company charges / purchases products and services with related parties at reasonable prices and those prices are comparable to the market rate with general trading conditions. Details of related transactions are as follows;

31 December 2015 31 December 2014 (Million Baht) (Million Baht) Company Consolidated Company Consolidated

Rational and necessity

The Company and its subsidiaries provide mobile services and handset sales to INTOUCH. While a subsidiary has interest expense from long-term debentures. Sales and services 1. Service income 2. Other income 3. Trade and other accounts receivable

0.02 0.56 -

0.93 1.23 0.13

0.02 0.01

0.67 0.45 0.24

The Company and its subsidiary charge mobile services and handset sale at the same rate as external customers.

Purchase of goods and services 0.22 1. Other service expenses 2. Interest expenses 3. Long-term Debentures 4. Trade and other accounts payable

0.24 1.34 37.00 -

3.62 0.78

3.57 0.42 17.00 0.78

The Company and its subsidiary pay service fee and interest expense to INTOUCH at the same rate as others parties.

Annual Report 2015 Advanced Info Service Public Company Limited

Related parties/Relation to the Company

7KDLFRP 3XEOLF &RPSDQ\ /LPLWHG 7+$,&20 INTOUCH is a major shareholder, holds 41.14%, and Mr. Somprasong Boonyachai is a joint director.

Detail of transactions

31 December 2015 31 December 2014 (Million Baht) (Million Baht) Company Consolidated Company Consolidated

The Company and subsidiary leases satellite transponder (Thai Com 7) from THAICOM. The contract will effective until 19 November 2017. The Company and subsidiary pays US$ 1,700,000 per year, moreover it has provides satellite downlink equipment and space for transponder equipment installation.

Rational and necessity

THAICOM is the only satellite operator in Thailand.

While the Company and its subsidiaries provide domestic and international phone services, and handset sales to THAICOM. Sales and services 1. Service income 2. Other income 3. Trade and other accounts receivable

1.53 -

Purchase of goods and services 1. Rental and service expenses 6.87 2. Purchases of property and other assets 3. Trade and other accounts payable

3.54 0.38 0.15

0.73 -

67.19 59.19

58.26 -

69.11

9.03

0DWFKER[ &RPSDQ\ The Company and its /LPLWHG 0% subsidiaries hire MB as an agency to provide publicity for INTOUCH is a major the Group products/services shareholder, holds to customers through various 99.96%, and media on a job-by-job basis. Mr. Somprasong Boonyachai is a joint director. * Currently, MB is ceased operations, so these related transactions are occurred in the first half of the year 2015 before ceased operation.

Purchase of goods and services 1. Advertising and other service 10.95 expenses 2. Trade and other accounts payable

Annual Report 2015 Advanced Info Service Public Company Limited

The Company and its 2.73 subsidiary charge mobile 0.46 services and handset 0.04 sales at the same rate as external customers. The Company and its 66.37 subsidiaries pay service - fee to THAICOM at the same rate as external 9.03 customer and purchase of assets with the bidding price. MB is a creative advertising agency with good understanding of the Groupâ&#x20AC;&#x2122;s products & services. Furthermore, as a subsidiary of Intouch, we can ensure the confidential of information.

26.08

25.05

10.28

The Company and 283.72 its subsidiaries pay advertising and other 95.26 service fees to MB at the same rate as other agencies.

089

Related parties/Relation to the Company

7HOHLQIR 0HGLD &RPSDQ\ /LPLWHG 70& INTOUCH is an indirect major shareholder.

Detail of transactions

31 December 2015 31 December 2014 (Million Baht) (Million Baht) Company Consolidated Company Consolidated

The Company and its subsidiaries hire TMC to provide information or content on mobile phone such as astrology, lotto and more entertainment through SMS, call center service and pay service fee on monthly basis.

Rational and necessity

TMC has a specialization in providing information for content on mobile and call center service.

While the Company and its subsidiaries provide mobile services and handset sales to TMC. Sales and services 1. Service income 2. Other income 3. Trade and other accounts receivable

0.42 -

0.42 0.04 0.76

1.18 0.47

Purchase of goods and services 0.99 1. Service expenses 0.04 2. Trade and other accounts payable

65.31 7.35

3.13 0.12

, 7 $SSOLFDWLRQV DQG The Company and its 6HUYLFHV &RPSDQ\ subsidiaries hire ITAS to /LPLWHG ,7$6 provide SAP solution and application development. INTOUCH is a major shareholders, holds While a subsidiary provides 100% and mobile services to ITAS. Mr. Somprasong Boonyachai is a joint director. Sales and services 1. Service income

090

The Company and its 1.81 subsidiaries charge - mobile services and 0.47 handset sales at the same rate as external customers. The Company and its 39.12 subsidiaries pay service 7.08 fee (Content on mobile) by the percentage of revenue and outsource call center fee to TMC at the same rate as other parties. ITAS provides SAP application development and improvement, including maintenance services. The services are timely and rapidly while the service fee is reasonable.

0.01

Purchase of goods and services 0.08 1. Service expenses 0.33 2. Trade and other accounts payable

99.60 60.73

0.30 -

The Company and its 0.01 subsidiaries charge mobile services at the same rate as external customers. The Company and 88.13 its subsidiaries pay 18.39 consultant fee to ITAS depend on the type of work and the level of consultant with the same rate as other SAP consultant. Annual Report 2015 Advanced Info Service Public Company Limited

Related parties/Relation to the Company

*URXS RI 6LQJ7HO 6WUDWHJLF ,QYHVWPHQWV 3ULYDWH /LPLWHG 6LQJ7HO SingTel is a major shareholder of the Company, holds 23.32%.

Detail of transactions

31 December 2015 31 December 2014 (Million Baht) (Million Baht) Company Consolidated Company Consolidated

The Company and its subsidiaries enter into an agreement with companies of SingTel group for the joint International Roaming operation and Network telecom service operator i.e. International Private Leased Circuit (IPLC).

The agreement of International Roaming (IR) with SingTel is under the ordinary course of business and both parties charge each other at the accepted price by deduct profit margin from their customers at the same rate as other operators.

While the Company pays the salary and remuneration to Singapore Telecom International Pte Ltd. (STI) for its operational staffs. The expense is charged on an actual basis. Sales and services 1. Service income 2. Trade and other accounts receivable

150.37 -

Purchase of goods and services 1.27 1. Service expenses 72.93 2. Salary and other remuneration 83.35 3. Trade and other accounts payable

&6 /R[LQIR 3XEOLF &RPSDQ\ /LPLWHG &6/ INTOUCH is an indirect major shareholder.

Rational and necessity

648.84 5.43

77.67 2.52

463.64 72.93

32.72 84.41

259.59

30.41

The Company and its subsidiaries hire CSL for providing the internet service by connecting the network within and outside the country.

The Company and its 434.59 subsidiaries charge IR 19.14 services at the same rate as other operators. The Company and its 470.84 subsidiaries pay IPLC 84.41 fee at the same rate with other operators 33.17 and pay salary and other remuneration to STI with the actual basis according to the agreement. CSL provides expertise on internet service by connecting internet data from local to worldwide through network.

While the Company and its subsidiaries provide mobile services, handset sales and datanet equipmentâ&#x20AC;&#x2122;s rental to CSL. Sales and services 1. Service income 2. Other income 3. Trade and other accounts receivable

0.36 -

12.62 6.63 3.08

0.65 0.05

Purchase of goods and services 1. Rental and service expenses 2.97 0.29 2. Trade and other accounts payable

5.22 0.38

3.75 0.34

Annual Report 2015 Advanced Info Service Public Company Limited

The Company and its 12.55 subsidiaries charge 5.81 mobile services and 3.41 handset sales at the same rate as external customers. The Company and its 8.25 subsidiaries pays service 0.77 fee to CSL at the same rate as other parties. 091

Related parties/Relation to the Company

$' 9HQWXUH 3XEOLF &RPSDQ\ /LPLWHG $'9 INTOUCH is an indirect major shareholder.

Detail of transactions

31 December 2015 31 December 2014 (Million Baht) (Million Baht) Company Consolidated Company Consolidated

The Company and its subsidiaries hire ADV to provide content and value added service for mobile phone to customers such as game, ringtone, wallpaper and etc. by charging per month.

Rational and necessity

ADV has a specialization in designing and creating website with variety contents which suit to the Company and its subsidiariesâ&#x20AC;&#x2122; need.

While the Company and its subsidiaries provide mobile services, software mall and handset sales to ADV. Sales and services 1. Service income 2. Other income 3. Trade and other accounts receivable Purchase of goods and services 1. Service expenses 2. Trade and other accounts payable

'79 6HUYLFH &RPSDQ\ /LPLWHG '79 INTOUCH is an indirect major shareholder.

9.40 0.04 0.02

18.89 1.19

19.48 0.72 1.19

240.14 40.54

332.23 44.83

The Company and its subsidiaries hire DTV to advertising on satellite television, while the Company and its subsidiaries provide mobile services and handset sales to DTV. Sales and services 1. Service income 2. Other income 3. Trade and other accounts receivable

092

6.02 -

The Company and its subsidiaries charge mobile services and handset sales at the same rate as external customers. The Company and its subsidiaries pay service fee (Content on mobile) by the percentage of revenue to ADV at the same rate as other content providers. DTV has a specialization in media service, content services on satellite television and satellite dish distributor.

0.03 -

0.07 0.03 0.01

0.06 -

0.06 0.01

The Company and its subsidiaries charge mobile services and handset sales at the same rate as external customers.

Purchase of goods and services 1. Service expenses 0.10 2. Trade and other accounts payable

1.31 0.17

0.90 -

The Company and its subsidiaries pay advertising fee to DTV at the same rate as other parties.

Annual Report 2015 Advanced Info Service Public Company Limited

Related parties/Relation to the Company

Detail of transactions

31 December 2015 31 December 2014 (Million Baht) (Million Baht) Company Consolidated Company Consolidated

10. Lao The Company and its 7HOHFRPPXQLFDWLRQV subsidiaries have cooperated &RPSDQ\ /LPLWHG /7& with LTC to provide International Roaming (IR). INTOUCH is an indirect major shareholder. Sales and services 1. Service income 2. Trade and other accounts receivable

7KDL <DUQ\RQ &RPSDQ\ /LPLWHG *URXS 7<<

Rational and necessity

LTC, the telecommunications service provider in Laos, provides fixed line, mobile phone, internet, and international roaming services. Roaming price is based on market rate. 0.25 -

6.62 1.26

0.33 0.07

The Company and its 5.27 subsidiaries charge 5.32 IR services at the same rate as external customers.

Purchase of goods and services 0.95 1. Service expense 0.13 2. Trade and other accounts payable

5.68 1.09

2.07 -

The Company and its 12.96 subsidiaries pay roaming 0.56 fee to LTC at the same rate as other parties.

The Company and its subsidiaries hire TYY to provide car maintenance services and space rental for base station.

TYY is a car dealer with specialist in car maintenance services.

Mr. Vithit Leenutaphong is a joint director. While the Company and its subsidiaries provide mobile services to TYY.

Sales and services 1. Service income 2. Trade and other accounts receivable Purchase of goods and services 1. Service expense

Annual Report 2015 Advanced Info Service Public Company Limited

0.16 0.05

2.11 0.31

0.05 0.05

0.35

0.08

The Company and its 2.48 subsidiaries charge 0.27 mobile services at the same rate as external customers. The Company and its 0.41 subsidiaries pay base station rental fee to TYY at the same rate as another lessor in the nearly area.

093

Related parties/Relation to the Company

Detail of transactions

31 December 2015 31 December 2014 (Million Baht) (Million Baht) Company Consolidated Company Consolidated

2RNEHH &RPSDQ\ The subsidiary hires Ookbee to /LPLWHG 22.% provide E-booking application on smartphones and tablets by INTOUCH is a direct charging per monthly. shareholder, holds 22.26%. While a subsidiary provides mobile services to Ookbee.

,QIRUPDWLRQ +LJKZD\ &RPSDQ\ /LPLWHG ,+

Ookbee is a provider digital publication and E-Booking company such as books, magazines or newspaper on smartphones, tablets and computers.

Sales and services 1. Service income 2. Trade and other accounts receivable

0.12 0.01

Purchase of goods and services 1. Service expenses 2. Trade and other accounts payable

8.24 1.32

The subsidiary charges 0.05 mobile services at the - same rate as external customers. The subsidiary pays 11.77 service fee (Content 1.46 on mobile) by the percentage of revenue at the same rate as other content providers.

IH provides transmission network and facilities services for installation fibre optic transmission to the subsidiary.

IH provides transmission network and facilities services for installation fibre optic transmission.

AIS is an indirect major shareholder. While a subsidiary provides mobile services to IH.

Sales and services 1. Service income 2. Interest income 3. Short term loan to related party 4. Trade and other accounts receivable Purchase of goods and services 1. Service expenses 2. Interest expense 3.Trade and other accounts payable 4. Financial lease liabilities

094

Rational and necessity

The subsidiary charges - mobile services at the 1.82 same rate as external 95.00 customers and interest income from loan to IH - the same rate as other commercial bank.

0.03 2.31 -

0.01

42.61 2.79 15.14

The subsidiary pays - transmission network fee - to IH at the same rate - as other operators.

72.00

Annual Report 2015 Advanced Info Service Public Company Limited

Related parties/Relation to the Company

Detail of transactions

&RPSXWHUORJ\ &RPSDQ\ /LPLWHG &20/

The subsidiary provides mobile services to COML.

INTOUCH is a direct shareholder, holds 25.01%.

Sales and services 1. Service income

31 December 2015 31 December 2014 (Million Baht) (Million Baht) Company Consolidated Company Consolidated

COML is a provider of software and application development services on online media. -

0.09

*Currently, intouch disposed all of its investment in COML, therefore such transaction is occurred before the disposal date.

+LJK 6KRSSLQJ &RPSDQ\ /LPLWHG +LJK 6KRSSLQJ

The subsidiary provides mobile services to High Shopping.

.UXQJ 7KDL %DQN KTB provides financial services 3XEOLF &RPSDQ\ /LPLWHG to the subsidiaries, while a .7% subsidiary provides mobile services to KTB. Mr. Krairit Euchukanonchai, an independent Director Sales and services and Chairman of Audit 1. Service income Committee 2. Trade and other accounts of the Company, was receivable appointed as Chairman of the Executive Purchase of goods and services Committee of KTB on 1. Interest income from bank 12 October 2015. deposit 2. Bank deposits

Annual Report 2015 Advanced Info Service Public Company Limited

The subsidiary charges - mobile services at the same rate as external customers.

High Shopping is a provider of digital content services to customer through TV, mobile devices, the internet, and other advertising channels.

INTOUCH is an indirect major shareholder. Sales and services 1. Service income 2. Trade and other accounts receivable

Rational and necessity

0.03 0.03

The subsidiary charges - mobile services at the - same rate as external customers. KTB is a provider of full financial services such as bank deposit, arranging loan, merchant services and other services.

25.54 9.73

0.08

198.91

The subsidiary charges - mobile services at the - same rate as external customers. The subsidiaries receive - interest income from bank deposit from - KTB at the same rate as other commercial bank.

095

Related parties/Relation to the Company

Detail of transactions

31 December 2015 31 December 2014 (Million Baht) (Million Baht) Company Consolidated Company Consolidated

Rational and necessity

7KH 6LDP &HPHQW The subsidiary provides mobile 3XEOLF &RPSDQ\ services and handset sales to /LPLWHG 6&* SCG. Mr. Kan Trakulhoon, President and Chief Executive Officer of SCG, was appointed as an independent Director of the Company, effective from 3 August 2015.

096

Sales and services 1. Service income 2. Other income 3. Trade and other accounts receivable

0.03 -

1.89 0.16 0.40

The subsidiary charges - mobile services and - handset sales at the - same rate as external customers.

Annual Report 2015 Advanced Info Service Public Company Limited

Audit Committee Report 2015 To the Shareholders of Advanced Info Service Public Company Limited

The Audit Committee of Advanced Info Service Public Company Limited is composed of three independent directors with combined skills and expertise in finance, accounting, laws, and business administration. All members possess adequate qualifications as required by the Audit Committee Charter and the regulations of the Securities and Exchange Commission, Thailand (SEC) and the Stock Exchange of Thailand (SET). Its members include: 1. Mr. Krairit Euchukanonchai Chairman of the Audit Committee 2. Mrs. Tasanee Manorot Member of the Audit Committee 3. Mr. Surasak Vajasit Member of the Audit Committee And Mrs. Suvimon Kulalert, the Company’s Chief Audit Executive, acts as secretary of the Audit Committee. The summary of meeting attendance of the members in 2015 is shown in “Management Structure”. The Audit Committee operates independently and performs its duties and responsibilities as assigned by the Board of Directors in overseeing the corporate governance and the internal control systems to ensure that the Company’s business operations were carried out for the interests of its shareholders and other stakeholders and that the Management executed their duties with integrity, accountability, and in accordance with the Company’s policies. The Audit Committee’s operations in the year 2015 are summarized below: 1. The Audit Committee reviewed the quarterly and annual separate and consolidated financial statements of the Company and its subsidiaries for 2015 after they had been reviewed and audited by the external auditor. The Audit Committee also discussed the significant accounting policies, estimates, and judgments applied in the preparation of these reports with the Management and the external auditor prior to the reports being concurred and submitted to the Board of Directors for approval. Moreover, the Audit Committee acknowledged the external audit plan and reviewed the external auditor’s management letter recommending improvements to the internal control system. The Audit Committee also held a meeting with the external auditor without the Management’s participation for the independent discussion on important issues concerning significant information in the financial statements and any points of concern arising from their reviews and audits, including independence of the external auditor. The Audit Committee concluded that the internal control systems for financial reporting process were appropriate and the external auditor performed their duties without any audit scope limitation to ensure that the financial statements fairly present the Company’s financial position and performance in all material respects and disclose adequate information, in accordance with the applicable Thai Financial Reporting Standards and Thai Accounting Standards. 2. The Audit Committee reviewed related party transactions or any transactions that potentially conflicts the Company’s interests and concluded that the Management conducted these transactions in the interest of the Company and at an arm’s length basis, with general business trading condition and reasonable price which had been compared with the general market price in such industry. 3. The Audit Committee reviewed the Company’s compliance with the Securities and Exchange Act, the regulations of the SEC and SET, and other relevant laws, as well as business commitments with third party agreements. The Audit Committee concluded that the Company fully complied with the aforementioned regulatory requirements in all material respects. The Audit Committee and external auditor assures that all material relevant issues under dispute, which the Management believes that such issues shall turn out to be in the Company’s favour, were disclosed in the notes to the financial statements adequately. Annual Report 2015 Advanced Info Service Public Company Limited

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4. The Audit Committee reviewed the effectiveness and adequacy of the internal control systems. The internal audit reports during 2015 were reviewed. The internal control system was assessed according to the Internal Control Integrated Framework 2013 of the Committee of Sponsoring Organizations of the Treadway Commission (COSO) as well as the SEC guideline. The Management actions, pertaining to the recommendations in the internal audit and external audit reports, were regularly communicated to and monitored by the Audit Committee whereby root causes of the issues would be further evaluated in order to provide guidelines for the management to prevent future potential loss. Additionally, the Audit Committee had acknowledged the technology advancement for more understanding and given recommendations to further enhance the effectiveness of the internal control systems. No major internal control deficiencies were identified and the Audit Committee concluded that the internal control systems were appropriate. 5. The Audit Committee reviewed the risk management system in four meetings with participation of representatives from the Risk Management Committee during 2015. Recommendations to improve efficiency of risk management system were made. The Audit Committee concluded that the risk management system was properly designed, implemented, and functioning. 6. The Audit Committee reviewed the Company’s adherence with Reporting and Investigation of Misconduct and or Fraud and Whistleblower Protection Policy. All complaints and investigation results by the Investigation Committee were quarterly communicated to the Audit Committee whereby appropriate actions and fair treatments could be recommended additionally to be in compliance with the Corporate Governance Policy. Moreover, the follow-up on the penalties of the wrongdoers has been monitored continuously. Fifteen cases were reported in 2015, four of which was identified as fraud after the investigation. Additionally, the Audit Committee is one of the channels for both internal and external parties to securely report complaints. 7. The Audit Committee was responsible for overseeing the Internal Audit Department and held a formal exclusive meeting with the Chief Audit Executive to ensure that all assurance and advisory activities concerning the internal control systems, risk management systems, and corporate governance systems were performed effectively and efficiently. In doing so, the Audit Committee approved the Internal Audit Charter revision and reviewed its independence, internal audit reports during 2015, and its performance according to key performance indicators. The Audit Committee also evaluated the performance of the Chief Audit Executive and considered internal audit quality improvement plans based on the evaluations and suggestions received from the audited departments. The Audit Committee approved the internal audit plan for 2016 which was based on the Company’s strategies and risk based approach. The internal audit activities emphasized on the evaluation of the effectiveness of key preventive control, fraud prevention, and control self-assessment in each process. Moreover, the internal auditors should perform advisory role to share knowledge and provide tools for the second line of defense to realize the oversight roles and responsibilities in mitigating risks to an acceptable level. The Audit Committee also reviewed the internal audit’s scope of work, responsibilities, annual budget, sufficiency of manpower, competency, and audit tools; for the internal audit quality conforming to international standards. The Audit Committee concluded that the internal audit processes had been operating appropriately, effectively, and independently, in conformity with the International Standards for the Professional Practice of Internal Auditing. Its annual audit plan aligned with the Company’s goals and key risk areas. The Internal Audit Department had achieved its performance targets and demonstrated continuous improvement in respect of its personnel development and tools advancement. 8. The Audit Committee quarterly reported its operation to the Board of Directors and provided to the management useful recommendations, which were subsequently adopted.

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Annual Report 2015 Advanced Info Service Public Company Limited

9. The Audit Committee reviewed and evaluated the adequacy of the Audit Committee Charter which the Board of Directors approved its amendments in the areas of the Audit Committee’s scopes and duties and the Audit Committee Meeting to be aligned with the Good Corporate Governance. 10. The Audit Committee took into consideration the nomination and appointment of the external auditor and the annual audit fee for 2016 basing on the auditor rotation required by the notification of the Capital Market Supervisory Board, and the assessment of independence, competency of the team support, experience in auditing, value added service, and the competitiveness of the audit fee of the proposed auditors. After careful consideration, the Audit Committee therefore proposed to the Board of Directors to seek approval of appointing the external auditor from Deloitte Touche Tohmatsu Jaiyos Audit Co., Ltd. as the external auditor for 2016 at the Shareholder’s Meeting. 11. The Audit Committee’s self-performance assessment was conducted annually, both individual and group assessment according to the SET guideline which cover the structure and qualifications of the Audit Committee, the Audit Committee Meeting, and the roles and responsibilities of the Audit Committee aligning with the best practice guidelines from the SEC and the Audit Committee Charter. The result showed that the Audit Committee had performed its duties and responsibilities with sufficient skills, expertise, diligence, and independence. The Audit Committee had full access to all pertinent information from management, employees and associated parties. The Audit Committee had been given creative and useful comments and recommendations benefiting all stakeholders. In summary, the Audit Committee determined that the Board of Directors, Management, and Executive Directors had performed their duties with integrity and diligence in pursuit of the Company’s goals. And the Company demonstrated commitment to effective and transparent Corporate Governance which included appropriate risk management and internal control system.

Mr. Krairit Euchukanonchai Chairman of the Audit Committee

Annual Report 2015 Advanced Info Service Public Company Limited

Mrs. Tasanee Manorot Audit Committee Member

Mr. Surasak Vajasit Audit Committee Member

099

Financial Report

100

Annual Report 2015 Advanced Info Service Public Company Limited

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On 15 October 2015, NBTC submitted a letter to the Company on determination on the end of customer protection period on 900 MHz and concluded that the Company must provide temporary continuing service until 19 November 2015. Later, on 2 November 2015, National Telecommunication Commission (“NTC”) decided to postpone the auction of 900MHz license from 12 November 2015 to 15 December 2015. However, NBTC has not yet announced the extension of the end of customer protection period on 900 MHz. 2) The operation of a DATAKIT VIRTUAL CIRCUIT SWITCH as the operator. Advanced Data network Communications Co., Ltd. (“ADC”), an indirect subsidiary, has been granted permission from TOT Public Company Limited (“TOT”), under the Agreement dated 19 September 1989, for rendering services for DATAKIT VIRTUAL CIRCUIT SWITCH in the area of the Metropolitan Telephone Exchange. Under the Agreement, ADC shall be entitled to immediately transfer the ownership right of its tools and equipment or assets for operation of DATAKIT System to TOT when the installation has been completed and ADC shall pay TOT annual revenue sharing in accordance with the Agreement at WKH SHUFHQWDJH RI DQQXDO UHYHQXHV DQG DQ\ EHQHÀW IURP VHUYLFH RI '$7$.,7 9,578$/ &,5&8,7 SWITCH prior to deducting any expenses and any tax or the minimum annual revenue sharing stipulated in the Agreement. ADC and TOT have mutually agreed to amend the Agreement and signed the Supplemental Agreement on 25 September 1997 to extend the validity period from 10 years to 25 years (such validity period shall be ended on 24 September 2022) and waive the collection of annual revenue sharing under the agreements effective from 25 September 1997. ADC issued 10.75 million ordinary shares at a par value of Baht 10 (11.23% of total shares) to TOT on 17 March 1998 in consideration of such waiver. As at 31 December 2015, TOT owns 48.12% of ADC’s total shares (2014: 48.12%).

Under the Agreement, DPC was entitled to immediately transfer the ownership right of its machineries, all equipment and tools or assets for operation to CAT upon installation completion DQG '3& SDLG &$7 WKH DQQXDO UHYHQXH VKDULQJ DW WKH SHUFHQWDJH RI DQQXDO UHYHQXHV DQG DQ\ EHQHÀW in according with the accrual basis from the mobile phone service prior to deducting any expenses and any tax and fees which the minimum revenue sharing must accumulate, over the term of the Agreement, not less than Baht 5,400 million as follows:

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3) The operation of a 1800 MHz CELLULAR TELEPHONE SYSTEM as the operator. Digital Phone Company Limited (“DPC”), a subsidiary, has been granted permission from CAT Telecom Public Company Limited (“CAT”), under the Agreement for operation dated 19 November 1996 (“the Agreement”), to operate and service Cellular Mobile Telephone: Digital PCN (PERSONAL COMMUNICATION NETWORK) 1800, frequency between 1747.9 MHz to 1760.5 MHz and 1842.9 MHz to 1855.5 MHz, nationwide. DPC started the operation commencing from 28 May 1997, ending 15 September 2013 and DPC was obliged to comply with various conditions and pay revenue sharing in accordance with the Agreement.

The Agreement was expired on 15 September 2013. Thus, on 16 August 2013, The National Broadcast and Telecommunication Commission (â&#x20AC;&#x153;NBTCâ&#x20AC;?) has announced a temporary customer protection measure after the Agreement expired to assign the operator to provide continuing services to the subscribers for up to a further 1 year commencing from the Agreement expiration date. The operator must comply with the rules and conditions set forth in the announcement. On 17 July 2014, the National Council for Peace and Order (â&#x20AC;&#x153;NCPOâ&#x20AC;?) has announced an order No. 94/2557 â&#x20AC;&#x153;Suspension the implementation of the Act on Organization to Assign Radio Frequency and to Regulate the Broadcasting and Communications Servicesâ&#x20AC;? to instruct NBTC to postpone an auction for spectrum licenses for 1 year commencing from the Order date. During the postpone period, the operator has to comply with the NBTCâ&#x20AC;&#x2122;s announcement on 16 August 2013 to provide continuing services to the subscribers. The application of those rules and conditions has yet to be FODULĂ&#x20AC;HG LQ GHWDLO E\ 1%7& LQFOXGLQJ H[SHQVHV WKDW PD\ EH GHGXFWHG LQ DUULYLQJ DW D QRWLRQDO SURĂ&#x20AC;W payable to the State). Consequently, the outcome of complying with this extension on DPC and the Group is, currently, uncertain. On 24 November 2015, NBTC has announced the end of a temporary customer protection period on 1800MHz dated on 26 November 2015. 4) The operation of a 2.1-GHz CELLULAR TELEPHONE SYSTEM as the operator. Advanced :LUHOHVV 1HWZRUN &R /WG Â´$:1Âľ D VXEVLGLDU\ KDV EHHQ JUDQWHG SHUPLVVLRQ IURP WKH 2IĂ&#x20AC;FH of the National Broadcasting and Telecommunications Commission (â&#x20AC;&#x153;NBTCâ&#x20AC;?), under the license FHUWLĂ&#x20AC;FDWH Â´/LFHQVHÂľ GDWHG RQ 'HFHPEHU WR RSHUDWH DQG VHUYLFH &HOOXODU 0RELOH 7HOHSKRQH frequency between 1950 MHz to 1965 MHz and 2140 MHz to 2155 MHz, nationwide in accordance ZLWK WKH OLFHQVH FHUWLĂ&#x20AC;FDWH QR 1%7& )5(4 7(/ $:1 VWDUWHG WKH RSHUDWLRQ FRPPHQFLQJ from 7 December 2012, ending 6 December 2027 and AWN is obliged to comply with various FRQGLWLRQV DQG SD\ IHHV ZLWKLQ WKH WLPH SHULRG DV VSHFLĂ&#x20AC;HG LQ WKH /LFHQVH License of Spectrum for Telecommunications Service in the Frequency Band of 1800MHz.

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Current investments Available-for-sale investments At 1 January Increase during the year Decrease during the year At 31 December

1,542 1,155 (2,392) 305

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<'4%3*.#=%)'&%#') As at 31 December 2015, other investments represent the followings:

A#=%)'&%#'*.#*>3.6$%*!-/.0%*H'%*@'6K Investment in Bridge Mobile Pte Ltd. of 0.80 million ordinary shares (USD 1.30 million (Baht 47 million)). The Company owns 10% of its paid-up share capital. !8"

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Investments in associate as at 31 December 2015 and 2014, and dividend income from those investments for the years then ended were as follows:

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FGEH ",J!/'%%$%! D+0,-*+$&(!/'%%!'&!-&7$%(+$&(%! C%%$(%!3&4$*!(#$!C.*$$+$&(%!)'*!'0$*,(-'&%! C11*3$4!$J0$&%$!')!(#$!C.*$$+$&(%!)'*!! !!!'0$*,(-'&%! X(#$*%! <+-&'(

12"$"32$%&'()*+,

7"0,"*3+($&+# -30(013(*#,$($&8&0$,

'&9()($&# -30(013(*#,$($&8&0$,

FGEI FGEH %&'(-&..&"'()*+#,

A9=A@! ^! ^!

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! ! !

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The tax losses expire in 2019-2020. The deductible temporary differences do not expire under current tax legislation. Deferred tax assets have not been recognised in respect of these items because it is not SUREDEOH WKDW IXWXUH WD[DEOH SURÀW ZLOO EH DYDLODEOH DJDLQVW ZKLFK WKH *URXS FDQ XWLOLVH WKH EHQHÀWV therefrom.

!""#$%&'()*+,&-./0 !"#$%&'"()%*+(,'-#.&'(/012.&(3+45$%6(7.4.8'"

!9;

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!"#$

FGEI

'&9()($&# -30(013(*#,$($&8&0$, %&'(-&..&"'()*+#,

FGEH

FGEI

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7"0,"*3+($&+# -30(013(*#,$($&8&0$, FGEH

( b-(#-&!'&$!5$,*! C)($*!'&$!5$,*!83(!:-(#-&!)-7$!5$,*%! C)($*!)-7$!5$,*%! <+-&'( !

A?9`A=! R@9PRB! ?A9``@! =?A15C(

'&9()($&# -30(013(*#,$($&8&0$,

FGEI

FGEH %&'(-&..&"'()*+#, !84'38::864';/H5+! ?9P=@! ! A`9P@=! ??9?=R! ! L9RBL! A?9APA! ! ^! 5=AD59( ( 1@A>@5(

! ! ! (

FGEI

! ?9P=@! ! A?9`AL! ! ^! ( !?A5?D(

The currencies denomination of interest-bearing liabilities as at 31 December were as follows:

7"0,"*3+($&+# -30(013(*#,$($&8&0$, FGEH

)

!9<

"#,-!;,#(!["M;T! W&-($4!E(,($%!<'//,*%![WE<T! <+-&'( !

' ' )

PP9ZAP! L9ZAZ! =?A951(

FGEI

! ! (

'&9()($&# -30(013(*#,$($&8&0$, %&'(-&..&"'()*+#,

?P9BR=! AA9=AB! 5@AC?C(

! ! (

FGEH

A`9?AR! L9ZAZ! 1@AD5C(

FGEI

! ! (

=9@A=! AA9=AB! !?A95C(

!""#$%&'()*+,&-./0 !"#$%&'"()%*+(,'-#.&'(/012.&(3+45$%6(7.4.8'"

WE<!`P2@@!

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ND;XG!0/3%!+,*.-&!

ND;XG!0/3%!+,*.-&!!

A1,*$*-,&$#,*& Q0*$&#11<CS

(

P$)1+)0#3& 0#4C*1,&,*$C

E$+-^,&&3,/! =!$]3,/!-&%(,//+$&(%!)*'+! ?@AL!('!?@?A!

E$+-^,&&3,/! 6&(-*$/5!*$4$$+$4!-&!?@A`!

E$+-^,&&3,/! =!$]3,/!-&%(,//+$&(%!-&! ?@AB!,&4!?@AZ!

E$+-^,&&3,/! ?!$]3,/!-&%(,//+$&(%!-&! ?@AP!,&4!?@AB!

E$+-^,&&3,/! ?@!$]3,/!-&%(,//+$&(%!)*'+! ?@@`!('!?@A`!

(

T*$C&"'&& )1,*$*-,& 0#4C*1,

E$+-^,&&3,/! Z!$]3,/!-&%(,//+$&(%!)*'+! ?@AL!('!?@??!

BU"M;>-J!0/3%!+,*.-&! E$+-^,&&3,/! 6&(-*$/5!*$4$$+$4!-&!?@?@!

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"'(,/!/',&%! B.00!(*,&%,1(-'&!1'%(!8,/,&1$!,(!RA!<$1$+8$*! K#-(

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<4#(Q+,3&$H(

M<,-,#1%)16&3"#1& )1&'"$*)61&+<$$*1+4 FGEH FGEI %&'(-&..&"',

As at 31 December, the details of long-term loans are summarised as follows:

@-#$J'%3&*/-33-E.#$)

12"$"32$%&'()*+,

!""#$%&'()*+,&-./0 !"#$%&'"()%*+(,'-#.&'(/012.&(3+45$%6(7.4.8'"

!9=

( (

=@9?AZ! [BZT! 9CA!?C(

=9?@@! !

P9@@@! !

A?9R@@! !

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! !

=9@@@! !

R9@`?! !

! ! R9@`?!

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! ! A9?``!

FGEH

( (

! ?@9=AB! ! [PZT! ( 1CA5?D(

^! !

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! !

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! ! ?9`AP!

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! AR9ZAZ! ! [R=T! ( !5A=>5(

=9@@@!

R9@`?!

! R9@`?!

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! A9?``!

(

! AP9=AB! ! [PZT! ( !?A5?D(

=9@@@!

?9`AP!

! ?9`AP!

! =9ARL!

! A9B=Z!

FGEI

'&9()($&# -30(013(*#,$($&8&0$, FGEH %&'(-&..&"'()*+#,

! ! A9B=Z!

FGEI

7"0,"*3+($&+# -30(013(*#,$($&8&0$,

!:"

!""#$%&'()*+,&-./0 !"#$%&'"()%*+(,'-#.&'(/012.&(3+45$%6(7.4.8'"

=C"<1,

%2&..&"'()*+#,

O"8&"'&<1),

%2&..&"',

AA!C0*-/!?@A=!

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A1,*$*-,&$#,*& Q0*$&#11<CS

! ! !

! >-J$4!-&($*$%(!*,($! !')!=2L=Q!

! >-J$4!-&($*$%(!*,($! !')!=2PBQ!

! >-J$4!-&($*$%(!*,($! !')!=2AZQ!

! >-J$4!-&($*$%(!*,($!! ')!R2RLQ!

"'(,/!4$8$&(3*$%! ! B.00!8'&4!-%%3-&.!1'%(!8,/,&1$!,(!RA!<$1$+8$*! ! ! ! ! ! K#-( ! !

AA!C0*-/!?@A=!

.;G&$0#;(O)%#'#//(K#-P+%I(Q+RA(S-;R( AA!C0*-/!?@A=! ! @2RL! ! RLZ!

A--<*&%#,*

! ! !

!E$+-^,&&3,/!

T*$C&"'&&)1,*$*-,&& 0#4C*1,

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P$)1+)0#3& 0#4C*1,&,*$C

AB9B@@! [?@T! !=A?>C(

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! B9BR`!

! A9ZZB!

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! ^! (

FGEI

^! ^! B(

'&9()($&# -30(013(*#,$($&8&0$,

FGEI FGEH %&'(-&..&"'()*+#, ! ! ! !

7"0,"*3+($&+# -30(013(*#,$($&8&0$,

As at 31 December, the Groupâ&#x20AC;&#x2122;s long-term debentures represent unsubordinated and unsecured debentures with a par value of Baht 1,000 each and are detailed as follows:

@-#$J'%3&*6%/%#';3%)

(

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

7"0,"*3+($&+#-30(013(*#,$($&8&0$, 7()):30C#(8"50$ FGEH FGEI

FGEH

U(3)#/(*5&,V

FGEI

%&'(-&..&"'()*+#,

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7"0,"*3+($&+# -30(013(*#,$($&8&0$, FGEH

FGEI

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7"0,"*3+($&+# -30(013(*#,$($&8&0$, FGEH

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?2=P! =2P@! P2PL!

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!:!

12"$"32$%&'()*+,

C(!A!f,&3,*5! RZ9@P@! ( ?=9BP`! C44-(-'&%! =B9R?L! ( ?=9BP`! ;'**':-&.!1'%(! [R?T! [?LT! ( G$0,5+$&(%! [A`9BRPT! ( [A?9=@BT! "$*+-&,($!1'%( ^! [A@T! ( W&*$,/-%$4!/'%%!'&!)'*$-.&!$J1#,&.$! BLR! AP?! ! ( C+'*(-%,(-'&!! ?Z! ?Z! ( .-(5!(E#0#,F#%( =?A951( ( 5@AC?C( ! "#$!$))$1(-7$!:$-.#($4!-&($*$%(!*,($%!,%!,(!RA!<$1$+8$*!:$*$!,%!)'//':%S! !

FGEH

>O# !)(+&#(0+#"$%&)#(11"50$,#9(:(6*& 7"0,"*3+($&+# -30(013(*#,$($&8&0$,

!"#$

FGEH

FGEI

'&9()($&# -30(013(*#,$($&8&0$, %&'(-&..&"'()*+#,

FGEH

FGEI

C4"8&)",,*3(%2)-":"0.&) G$/,($4!0,*(-$%!! X(#$*!0,*(-$%! <+-&'(-%&;#(&00+8$-/(3&H&F'#(

' %' ' )

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) %' ' ' %' ' ' '

( A?9BB`! AP=! ?`@! ?LA! !5A5D5( ( 1@A@?!(

( ! ! ! ! ( ( (

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( ! ! ! ! ( ( (

( ?9P?Z! ZL! =P! ?`?! 1AD55( ( 5A9@=(

( ! ! ! ! ( ( (

( ?9@BR! ARB! R`! P`Z! 1A>19( ( 9A!!C(

The currencies denomination of trade accounts payable as at 31 December were follows:

7"0,"*3+($&+# -30(013(*#,$($&8&0$, FGEH

( "#,-!;,#(!["M;T! W&-($4!E(,($%!<'//,*%![WE<T! 63*'![6WGT! f,0,&$%$!Y$&![fFYT! <+-&'(

FGEI

' ' ' ' ' )

A@9P?P! R9BAA! PB! ABB! !9A5?>(

! ! ! ! (

'&9()($&# -30(013(*#,$($&8&0$, %&'(-&..&"'()*+#,

FGEH

!84'38::864';/H5+! B9Z@R! ! RZ?! P9A`P! ! A@`! =! ! P`! AA! ! P! !!ADC5( ( ?95(

FGEI

! ! ! ! (

A9AP?! AR@! A! R! !A1>=(

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7"0,"*3+($&+# -30(013(*#,$($&8&0$, FGEH

Present value of obligations

!:#

2,294

FGEI

'&9()($&# -30(013(*#,$($&8&0$, %&'(-&..&"'()*+#,

1,500

FGEH

431

FGEI

406

!""#$%&'()*+,&-./0 !"#$%&'"()%*+(,'-#.&'(/012.&(3+45$%6(7.4.8'"

0RYHPHQW LQ WKH SUHVHQW YDOXH RI WKH HPSOR\HH EHQHÀW REOLJDWLRQV

7"0,"*3+($&+# -30(013(*#,$($&8&0$, FGEH

6+0/'5$$!8$&$)-(!'8/-.,(-'&%!,(!A!f,&3,*5! ;$&$)-(%!0,-4! I3**$&(!%$*7-1$!1'%(%!,&4!-&($*$%( "*,&%)$*!'3(! C1(3,*-,/!/'%%$%![.,-&%T!-&!'(#$*!! 1'+0*$#$&%-7$!-&1'+$!! T,3'+H##(F#$#*)-(+F')7&-)+$/(&-(5!(E#0#,F#%(

A9P@@! [APT! AZ?! ^! ! BRZ! 1A1D9(

'&9()($&# -30(013(*#,$($&8&0$,

FGEI FGEH %&'(-&..&"'()*+#,

! ! ! ! ! !

A9RBA! [?LT! AB`! ^! ! ^! !A?CC(

! ! ! ! ! !

=@B! [=T! PA! [`T! ! [A=T! 95!(

FGEI

! ! ! ! ! !

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( ([SHQVH UHFRJQLVHG LQ SURÀW RU ORVV

7"0,"*3+($&+# -30(013(*#,$($&8&0$, FGEH

I3**$&(!%$*7-1$!1'%(%! D&($*$%(!'&!'8/-.,(-'&! <+-&'! !

AA=! P`! !@1(

'&9()($&# -30(013(*#,$($&8&0$,

FGEI FGEH %&'(-&..&"'()*+#,

! ! !

AAP! PR! !=>(

! ! !

RP! AB! ?!(

FGEI

! ! !

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The Group/Company recognised the expense in the following line items in the statement of income:

FGEH

I'%(!')!*$&4$*-&.!')!%$*7-1$%!,&4! !!!$]3-0+$&(!*$&(,/! C4+-&-%(*,(-7$!$J0$&%$%! U,&,.$+$&(!8$&$)-(!$J0$&%$%! >-&,&1$!1'%(%! <+-&'(

! L! A@=! A! P`! !@1(

'&9()($&# -30(013(*#,$($&8&0$,

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! ! ! ! ! !

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! ! ! ! ! !

! ^! R=! A! AB! ?!(

FGEI

! ! ! ! ! !

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( Actuarial losses (gains) recognised in other comprehensive income:

7"0,"*3+($&+# -30(013(*#,$($&8&0$, FGEH

D&1/34$4!-&!*$(,-&$4!$,*&-&.%!S! C(!A!f,&3,*5! G$1'.&-%$4!43*-&.!(#$!5$,*( .-(5!(E#0#,F#%! !

!""#$%&'()*+,&-./0 !"#$%&'"()%*+(,'-#.&'(/012.&(3+45$%6(7.4.8'"

! Z?R! BRZ! !A5=C(

'&9()($&# -30(013(*#,$($&8&0$,

FGEI FGEH %&'(-&..&"'()*+#,

! ! ! !

! Z?R! ^! @15(

! ! ! !

! =AZ! [A=T! 9C5(

FGEI

! ! ! !

! =AZ! ^! 9!@(

!:$

12"$"32$%&'()*+,

7"0,"*3+($&+# -30(013(*#,$($&8&0$,

Actuarial (gains) and losses recognised in other comprehensive income arising from:

7"0,"*3+($&+# -30(013(*#,$($&8&0$, FGEH

'&9()($&# -30(013(*#,$($&8&0$,

FGEI FGEH %&'(-&..&"'()*+#,

FGEI

!84'38::864';/H5+' ) >-&,&1-,/!,%%3+0(-'&%! =RL! ! ^! ! B=! <$+'.*,0#-1!,%%3+0(-'&%! [?RT! ! ^! ! [A?T! 6J0$*-$&1$!,4O3%(+$&(! ??A! ! ^! ! [BBT! <+-&'( =5@( ( B( ( L!9M( ! Principal actuarial assumptions at the reporting date (expressed as weighted averages):

7"0,"*3+($&+# -30(013(*#,$($&8&0$, FGEI

FGEH

<-%1'3&(!*,($!! >3(3*$!%,/,*5!-&1*$,%$%!

R2P! L!

(

! !

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^! ^! ^! B(

'&9()($&# -30(013(*#,$($&8&0$, %/,

FGEH

! !

FGEI

R2P! L!

! !

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