Dear Shareholders,

Amid economic challenges that elevated the importance of digital technology, AIS progresses forward with continuous organizational development guided by the principles of Ecosystem Economy.

Over the past 3-4 years, The global socio-economic landscape has presented formidable challenges including the COVID-19 pandemic, volatile financial situation, extreme climate change, and geopolitical conflicts in multiple regions. These occurrences and instabilities are expected to escalate, posing increasingly unpredictable challenges in the future.

The evolving changes have inevitably made digital technology an indispensable component across all sectors. Its significance will extend to daily life, learning, and in particularly in the seamless integration of artificial intelligence (AI) into business processes. It is crucial to enhance process efficiency, boosting accuracy and speed, and empowering businesses to thrive amidst both internal and external fluctuations.

Last year, as a Cognitive Tech-Co, AIS prioritized organizational development in all dimensions to provide exceptional service quality to all customer segments. We delivered a net profit of 29,086 million baht, growing 12% YoY, and a dividend payment of 25,608 million baht, representing a payout rate of 88% for 2023. Throughout the journey, we have operated with a commitment to foster growth in collaboration with our business partners and propel Thailand towards a sustainable nation in accordance with the principles of Ecosystem Economy grounded on the following three components:

Strengthen the digital intelligence infrastructure to facilitate the expansion of digital capabilities across Thai society Over the course of 34 years, AIS has played a pivotal role in advancing digital infrastructure in Thailand, addressing the growth of digital technology, creating business opportunities, enhancing competitive advantages, and contributing to the country’s economic growth.

In 2023, with an investment of 41 billion baht, AIS strengthened the digital infrastructure for Thailand in various areas. Examples include the following:

Expansion of 5G intelligent network

and reached nearly 90% of Thai population by the end of 2023 to accommodate the exponential growth of 5G users, reaching to 9.2 million subscribers. This expansion included investment in private network and 5G ecosystem, aiming to enhance business efficiency and to support application of 5G technology in the industrial sector.

Cooperation with NT

to expand 5G network on the 700 MHz frequency band, of which NT holds a license. Under the contract, AIS is scheduled to deliver 13,500 base stations nationwide within two years and provide the rental of these base stations for the use of their 700 MHz frequency band for 13 years. This cooperation adheres to the principle of infrastructure sharing where joint investments in digital infrastructure are made to efficiently utilizing the spectrum. The goal is to ensure the maximum benefits derived from this valuable national resource for Thai society.

Communication platform as a service

that integrates multiple communication channels including voice, message, and video on one single platform. This enables customer to achieve cost efficiency while enhancing communication agility and flexibility.

Another achievement in 2023 was the acquisition of Triple T Broadband Public Company Limited and a 19% stake in Jasmin Broadband Internet Infrastructure Fund (JASIF), which consolidated AIS’ digital infrastructure and enabled our fixed broadband network to cover 923 districts across the country and reach over 13.3 million households. These efforts have provided greater opportunities for Thai people, especially those in remote areas, to access high-speed internet services, digital services and other privileges from AIS.

Fostering cross-industry collaboration to enhance the digital ecosystem and provide optimal privileges for customers AIS places importance on cultivating collaboration with strong business partners across diverse industries, distinguishing AIS products and services from those offered by other providers. This has also secured AIS a competitive edge in sourcing an extensive array of products and services to cater to the requirements of diverse customer groups. The collaboration with clients through the provision of technological and digital solutions, help preparing them for digital transformation and foster mutual growth between AIS and the business sector.

To enhance the value for over 45 million subscribers, AIS is dedicated to strengthening connections while creating values through our robust Point and Privilege Ecosystem. Last year, AIS collaborated with business partners to diversify and expand the ecosystem. The initiatives include broadening point redemption channels to encompass over 30,000 leading stores and 500,000 Tung Ngern retail shops nationwide. A dedicated point platform was also introduced, facilitating a seamless transfer of partner points to AIS Points, providing customers with flexibility in engaging with the AIS Point and Privilege Ecosystem. The move ensures that AIS deliver optimal benefits and privileges to both our customers and business partners.

Conducting business responsibly to propel Thailand towards a sustainable nation AIS acknowledges the urgency of addressing climate change and is dedicated to incorporating sustainability into its business practices. The adoption of the Green Network concept to our operations emphasizes environmental stewardship through initiatives such as efficient energy usage, reliance on renewable energy, and support for digitalization. Over the years, AIS efforts have led to a significant reduction of 162,878 tonnes of greenhouse gas emissions annually, equivalent to planting 17 million trees. In addition, we have partnered with Gulf Energy Development to install solar panels on 4,500 base stations, aiming to boost future renewable energy consumption.

As a prominent digital technology services provider in Thailand, AIS is actively advancing the development of the Thai population’s digital capabilities. This includes the creation of assessment and evaluation tools embedded in the Thailand Cyber Wellness Index, a collaborative effort between AIS and a consortium of leading organizations from both government and private sectors. The Index serves as a benchmark for assessing skills related to knowledge and use of digital technology. Additionally, AIS offers a platform and online learning course named “Academy for Thais” aimed at enhancing crucial digital skills for all Thai individuals. We envision that improving digital skills and promoting safe and responsible technology usage will contribute to Thailand’s economic and social development, fostering a higher quality of life for Thai people to the fullest potential.

AIS firmly believes that embracing to the principles of the Ecosystem Economy and adopting a customer-centric approach is a crucial strategy for fostering our robust growth. This commitment not only aims to maximize benefits for all stakeholders but also propels Thailand’s journey towards a sustainable nation.

Warm regards,