Digital Annual Report 2024

Dear Shareholders,

AIS’s Dedication towards Organizational Excellence and Building Resilience across Multiple Dimensions

In 2024, AIS has continued to strengthen our foundation through the dedication and collaboration of our employees, executives, partners, and stakeholders. This shared effort reflects our commitment to creating lasting value and enhancing our capabilities across diverse dimensions; whether it is achieving operational excellence, delivering exceptional customer care, or driving the growth of Thailand’s digital economy. Together, we are paving the way for a more sustainable future for Thai society. Guided by our vision: “To lead a sustainable Thai digital society through ecosystems and partnerships” AIS remains devoted to innovation and meeting the evolving needs of society, both today and for generations to come.

On behalf of everyone in AIS, I am pleased to share with our shareholders that over the past year AIS has achieved remarkable success across multiple dimensions. These include enhancing operational efficiency, ensuring financial stability to support sustainable growth, and upholding principles of good governance. In addition, our unwavering dedication to sustainability has borne meaningful results; reducing environmental impacts, harnessing digital technologies to propel economic and social development, and pioneering innovations that enhance the quality of life for the Thai people. Below, we are proud to highlight our key achievements:

Excellence in Operational Leadership Through Digital Strategies

In 2024, AIS upheld its leadership in digital infrastructure, delivering superior services to all customer groups, boosting the competitiveness of Thailand’s business sector, and promoting digital development for Thai society. Key achievements include:

• Expanding Digital Infrastructure
  AIS extended its 5G network coverage to over 95% of the Thai population and expanded the fiber broadband footprint to reach more than 20 million households. We also strengthened enterprise connectivity to deliver high-quality services and drive sustainable revenue growth.
• Integrating 3BB Operations:
  Following the successful acquisition of 3BB in 2023, AIS seamlessly integrated its operations, optimizing cost efficiencies while enhancing customer experience and service quality.์
• Fostering a Digital Ecosystem
  AIS enriched customers’ digital lifestyles by forming partnerships that introduced innovative services, generated new revenue streams, and supported mutual growth.
• Developing Digital Talent
  At AIS, we recognize our employees are the cornerstone of our success. Through the AIS Digital Talent program, we continue to develop expertise, leadership, and future-readiness, ensuring professional growth and maintaining our organizational competitiveness in the digital era.

Ensuring Financial Stability for Sustainable Stakeholder Returns

Despite economic challenges, AIS delivered strong financial performance, ensuring consistent returns to stakeholders. The key highlights are:

• Core Service Revenue increased by 17%, with net profit rose by 21%, driven by rising demand for digital services and efficient cost management.
• Dividend Distribution of Bt 31,556 mn , reflecting a 23% increase from 2023, and a payout ratio of 90%. This marks 24 consecutive yearsof sustainable shareholder returns.
• Successfully issued Thailand’s first sustainable bonds in the telecommunications industry, reflecting our commitment to delivering sustainable outcomes in both business and finance. This achievement was accompanied by maintaining a debt-to-EBITDA ratio of 2.2 times, supported by strong cash flow generation.

In 2025, AIS aims to sustain financial growth, targeting 3-5% growth in core service revenue, 3-5% EBITDA growth, and 26,000 - 27,000 billion THB investment to reinforce our market leadership and ensure sustainable growth.

Upholding Principles of Good Governance alongside Building Trust Among Investors and Stakeholders

In addition to achieving strong growth and financial success, AIS remains unwavering in its commitments to strong corporate governance, aligning with international standards, and upholding the highest ethical principles.

Key approaches include:

• Effective Internal Controls and Risk Management
  AIS has enhanced its practices to strengthen operational mechanisms. This includes proactive improvements to internal policies and practices related to investment evaluation, asset management, financial operations, and related-party transactions.
• Transparency and Accuracy
  AIS prioritizes transparency and accuracy in its operations to comply with regulatory standards. This includes disclosing key company information and providing communication and grievance channels for stakeholders, including shareholders, customers, employees, and communities, fostering trust among all groups.
• Commitment to Good Corporate Governance
  AIS remains focused on promoting sustainable long-term growth by adhering to the principles of Good Corporate Governance. Over the past year, AIS successfully renewed its certification as a member of the Thai Private Sector Collective Action Coalition Against Corruption (CAC).

Sustainable development in the digital economy in harmony with society and the environment

AIS remains deeply committed to sustainability, guided by a strategic framework centered on three key pillars:

• Driving Digital Economy
  AIS continues to expand its digital infrastructure, laying a robust foundation for digital innovation. We strengthen cybersecurity measures to safeguard customer data and digital assets while empowering employees with the skills needed to maximize the benefits of digital technologies, supporting our role to propel the growth of Thailand’s digital economy.
• Promote Digital Inclusion
  AIS is dedicated to ensuring equitable access to digital technology. We extended 5G coverage to remote areas and champion clean energy within our network through the Green Energy, Green Network initiative. Additionally, we implement impactful projects such as “*1185# Protecting Against Cyber Frauds” to enhance the quality of life for the Thai people.
• Act On Climate
  AIS places great importance on minimizing environmental impact. This year, the company has elevated its efforts to reduce carbon emissions throughout the value chain and implemented long-term carbon reduction strategies. We also continue our electronic waste management program, aiming for responsible disposal and zero landfill waste.

On behalf of the Board of Directors, executives, employees, and partners, AIS sincerely thanks our shareholders for unwavering trust and support. We remain committed to delivering sustainable value, strong performance, and driving Thailand’s transition to a sustainable digital society.

Warm regards,

(Kan Trakulhoon)
Chairman of the Board of Directors

(Somchai Lertsutiwong)
Chief Executive Officer