Dear Shareholders,

Driving Resilient Growth Through Strategic Clarity and Operational Excellence

The year 2025 was marked by significant challenges for the Thai economy, arising from global economic volatility related to global trade and geopolitical developments, as well as domestic structural issue that continued to affect purchasing power and consumer confidence. Against this backdrop, AIS chose to drive growth on the quality foundation, with a focus on high-value customers, profitability, and disciplined investment in digital infrastructure that generates appropriate long-term returns, while continuously enhancing digital infrastructure and customer experience.

On behalf of the Board of Directors, management, and employees at all levels, AIS reaffirms its commitment to the vision, “To lead a sustainable Thai digital society through ecosystems and partnerships.” In fulfilling our role as the nation’s leading digital infrastructure provider, AIS places strong emphasis on delivering high-quality and fair services that align with customers’ rightful expectations, while operating under a sustainability framework aimed at enhancing quality of life, strengthening business competitiveness, and reducing environmental impact.

Financial Performance Demonstrates Quality Growth and Strong Financial Discipline

By prioritizing the quality of products and services, maintaining a high-quality customer base, expanding digital and enterprise services, alongside efficient network cost management and disciplined financial management, AIS delivered operating results in 2025 that clearly reflect the quality of its growth, as follows:

• Total revenue grew by more than 5.9%, with net profit of THB 47,886 million, representing a 37% increase
• Shareholder returns delivered in the form of dividends amounted to over THB 45,492 million, equivalent to 95% of net profit
• A strong financial position was maintained, with a net debt-to-EBITDA ratio of 1.7

These results demonstrate AIS’s ability to maintain an appropriate balance between growth, investment, and cash flow generation under a prudent and sustainable financial discipline framework. This achievement was underpinned by the collective efforts of our employees, management, business partners, and stakeholders across the digital ecosystem, who are aligned in a shared commitment to delivering service excellence, operational efficiency, and long-term value creation for customers across all segments, including individuals, households, and enterprise customers.

Upholding Good Corporate Governance and Business Sustainability for Long-Term Growth

The Board of Directors and management place strong and consistent emphasis on conducting business in accordance with the principles of good corporate governance and business sustainability. We are committed to fostering an organizational culture grounded in integrity, transparency, and accountability, in order to build long-term trust among all stakeholders, support sustainable value creation, and contribute to the continued enhancement of corporate governance and sustainability standards in Thailand’s capital market.

In 2025, AIS further strengthened operations in line with international standards across several key areas, including:

• Risk management and digital safety, through the enhancement of the Data Governance framework, which serves as the foundation for the responsible use of artificial intelligence (Responsible AI), alongside proactive initiatives to strengthen digital security in collaboration with the public sector, such as SIM registration and the prevention of technology-related crimes. These efforts aim to enhance the quality of the digital ecosystem, reinforce trust among customers and business partners, and support long-term revenue sustainability.
• Stakeholder communication, through enhanced disclosure processes, communication channels, and transparent and accessible complaint mechanisms.
• Adherence to good governance principles, through improvements to investment policies, related-party transaction policies, and the Code of Business Ethics, particularly in relation to the management of conflicts of interest, as well as the continued renewal of membership in the Thai Private Sector Collective Action Against Corruption (CAC).
• Climate action, through setting climate targets and dedicated climate committee and taskforce, to guide its decarbonization roadmap. Climate resilience is systematically embedded within the enterprise risk management framework, enabling the Company to proactively manage climate-related risks and support long-term business resilience and sustainable value creation.

Driving the 2026 Strategy with Digital Infrastructure as the Foundation, Enhanced by AI and Differentiated Customer Experience

Following with the continued expansion of the digital economy, AIS has defined strategy for 2026 by focusing on growth anchored in high-quality digital infrastructure to support long-term service delivery. Artificial intelligence and superior customer experience will serve as key mechanisms to enhance operational efficiency, generate returns on investment, and strengthen sustainable competitiveness.

Digital Infrastructure

AIS continues to develop 5G network, high-speed fiber broadband network, and connectivity network for enterprise customers, with strong emphasis on network quality and customer experience across all customer touchpoints. These efforts support increasing demand and drive revenue growth. At the same time, AIS continues to develop autonomous network technologies and alternative energy initiatives, which help reduce operating costs and environmental impact.

Artificial Intelligence (AI)

AIS aims to integrate AI across various business processes, including growth initiatives, customer care, and operational efficiency, while simultaneously developing workforce capabilities and promoting digital knowledge across society. The Company places strong emphasis on the responsible use of AI under a robust data governance framework.

Customer Experience

AIS continues to develop digital platforms to deliver personalized customer experiences across both online and offline channels, supported by a comprehensive ecosystem of partner benefits and customer value management initiatives, aimed at strengthening customer loyalty and supporting long-term growth.

For 2026, AIS targets service revenue growth of 3-5%, EBITDA growth of 2-4%, and CAPEX of THB 30,000 – 35,000 million. The Company remains committed to investments that generate appropriate returns under a disciplined financial framework.

Well Positioned for Long-Term Sustainable Growth

In an era where digital technology is a critical enabler of daily life and economic development, AIS, as the nation’s leading digital infrastructure provider, recognizes its role and responsibility in supporting the stability of the digital economy and digital society. With robust infrastructure, strong financial position, a partner ecosystem, and capable human capital, the Company is well positioned to conduct its business with quality and discipline, connecting people, businesses, and society in a meaningful and sustainable manner.

The Board of Directors and management would like to express sincere appreciation to shareholders and all stakeholders for continued trust and support. We are confident that our growth approach grounded in quality, efficiency, and responsibility will serve as a strong foundation for delivering resilient, high-quality growth and for sustaining AIS’s role in advancing Thailand toward a sustainable digital nation.