Interim report
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ADVANCED INFO SERVICE PUBLIC COMPANY LIMITED AND ITS SUBSIDIARIES CONDENSED NOTES TO THE INTERIM FINANCIAL STATEMENTS FOR THE THREE - MONTH AND SIX - MONTH PERIODS ENDED JUNE 30 , 2026 " UNAUDITED " General information and basis of preparation of the interim financial statements Specifically - designated bank deposits Trade and other current receivables Contract assets Investments in subsidiaries Notes Contents -23456r 1 . 2 . 3 . 4 . 5 . 6 . 7 . 8 . 9 . 10 . 11 . 234567 Investments in associates and joint ventures Capital expenditures Interest - bearing liabilities Spectrum licenses payable Segment financial information and disaggregation of revenue Tax expense Dividends Related parties Financial instruments Commitments with non - related parties Significant events , commercial disputes and litigations Event after the reporting period 15
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These notes form an integral part of the interim financial statements. The interim financial statements issued for Thai regulatory reporting purposes are prepared in the Thai language. These English language financial statements have been prepared from the Thai language financial statements and were approved and authorised for issue by the Board of Directors on August 6, 2026. 1. GENERAL INFORMATION AND BASIS OF PREPARATION OF THE INTERIM FINANCIAL STATEMENTS As at June 30, 2026, Gulf Development Public Company Limited is a major shareholder, holding 40.44% (as at December 31, 2025:40.44%) of the authorised share capital of the Company and is incorporated in Thailand and Singtel Strategic Investments Pte Ltd.is a shareholder, holding 24.76% (as at December 31, 2025: 24.76%) of the authorised share capital of the Company and is incorporated in Singapore. The international business centre On January 14, 2026, the Company was granted additionally International Business Centre in apart of the Treasury Center. Basis of preparation of the interim financial statements The condensed interim financial statements are presented in the same format as the annual financial statements together with notes to the interim financial statements on a condensed basis (“interim financial statements”) in accordance with Thai Accounting Standard (TAS) No. 34 Interim Financial Reporting, guidelines promulgated by the Federation of Accounting Professions and applicable rules and regulations of the Thai Securities and Exchange Commission. The interim financial statements focus on new activities, events and circumstances to avoid repetition of information previously reported in annual financial statements. Accordingly, these interim financial statements should be read in conjunction with the financial statements of the Company and its subsidiaries for the year ended December 31, 2025. In preparing these interim financial statements, judgements and estimates are made by management in applying the Group’s accounting policies. Actual results may differ from these estimates. The accounting policies, methods of computation and the key sources of estimation uncertainty were the same as those described in the financial statements for the year ended December 31, 2025. 2. SPECIFICALLY-DESIGNATED BANK DEPOSITS In order to comply with the Notification of the Bank of Thailand applicable to the electronic cash card business, the subsidiaries held deposits at call with banks not less than to the subsidiaries’ outstanding balance of advance received from customers which cannot be used for other purposes apart from payments to service providers in the consolidated financial statements as at June 30, 2026 amounting to Baht 317 million (as at December 31, 2025 : Baht 471 million). 16
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3. TRADE AND OTHER CURRENT RECEIV ABLES Trade and other current receivables as at June 30, 2026 and December 31, 2025 are as follows: Unit: Million Baht Note Consolidated Separate financial statements financial statements As at As at As at As at June 30, December 31, June 30, December 31, 2026 2025 2026 2025 Trade receivables Related parties: 13 Trade receivables 85 246 261 76 Accrued income 114 36 - - 199 282 261 76 Other parties: Trade receivables 10,578 10,755 10 10 Accrued income 7,058 6,465 - - 17,636 17,220 10 10 Total trade receivables 17,835 17,502 271 86 Less Allowance for expected credit losses (1,987) (1,938) (9) (9) Trade receivables - net 15,848 15,564 262 77 Other current receivables Prepaid expense 13 2,541 1,975 24 18 Value-added tax receivable 32 168 - - Others 13 364 209 443 236 Total other current receivables 2,937 2,352 467 254 Total trade and other current receivables 18,785 17,916 729 331 Unit: Million Baht Consolidated Separate financial statements financial statements 2026 2025 2026 2025 (Reversal of) expected credit loss for the six-month period ended June 30, 880 1,013 - (1) 17
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Aging analysis for trade receivables are as follows: The normal credit term granted by the Group and the Company ranges from 14 days to 120 days. 4. CONTRACT ASSETS Contract assets as at June 30, 2026 and December 31, 2025 are as follows: (Separate financial statements: Nil) Unit: Million Baht Consolidated Separate financial statements financial statements As at As at As at As at June 30, December 31, June 30, December 31, 2026 2025 2026 2025 Related parties Current - overdue 3 months 198 280 260 75 Overdue 3 - 6 months - 1 - - Overdue over 12 months 1 1 1 1 199 282 261 76 Other parties Current - overdue 3 months 16,853 16,338 - - Overdue 3 - 6 months 458 541 - - Overdue 6 - 12 months 127 139 - - Overdue over 12 months 198 202 10 10 17,636 17,220 10 10 Less Allowance for expected credit losses (1,987) (1,938) (9) (9) 15,649 15,282 1 1 Trade receivables - net 15,848 15,564 262 77 Unit: Million Baht Consolidated financial statements As at As at June 30, December 31, 2026 2025 Current assets Sales of device and monthly service contract 2,927 3,008 Less Allowance for expected credit losses (61) (71) Contract assets - net 2,866 2,937 18
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Unit: Million Baht Consolidated financial statements 2026 2025 Reversal of loss on termination of contract assets for the six-month period ended June 30, (43) (78) 19
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5. INVESTMENTS IN SUBSIDIARIES Movements in investments in subsidiaries for the six-month period ended June 30, are as follows: 6. INVESTMENTS IN ASSOCIATES AND JOINT VENTURES Movements in investments in associates in the consolidated financial statements and separate financial statements for the six-month period ended June 30, are as follows: Unit: Million Baht Separate financial statements 2026 2025 Subsidiaries Balance as at January 1, 128,669 93,577 Dividends received during the period (56,445) (5,388) Disposal of investment in a subsidiary - (1) Share of profit of subsidiaries accounted for using equity method 26,589 20,479 Share of other comprehensive gain (loss) of subsidiaries accounted for using equity method 31 (34) As at June 30, 98,844 108,633 Unit: Million Baht Consolidated financial statements 2026 2025 As at January 1, 12,534 12,136 Share of profit of associates accounted for using equity method 519 492 Dividend received (358) (9) Capital addition of investment in an associate 2,563 - Capital reduction of investment in an associate (213) (486) As at June 30, 15,045 12,133 Unit: Million Baht Separate financial statements 2026 2025 As at January 1, 12,045 11,708 Share of profit of associate accounted for using equity method 526 516 Dividend received (340) - Capital addition of investment in an associate 1,755 - 20
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During the six-month period ended June 30, 2026, the Company received a capital reduction from 3BBIF, amounting to Baht 213 million. As at June 30, 2026, the Company held 19% of 3BBIF’s units. Capital reduction of investment in an associate (213) (486) As at June 30, 13,773 11,738 21
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GSA Holdings Company Limited (“GSAHLD”) On December 18, 2024, GSAHLD issued 15,750,000 additional ordinary shares with a par value of Baht 100 each, totaling Baht 1,575 million which have been partial paid up at Baht 44.03 per share. The Company invested in 3,937,500 of GSAHLD’s ordinary shares, which have been partial paid up at Baht 44.03 per share, totaling Baht 174 million on December 18, 2024, and made the remaining paid-up at Baht 55.97 per share, totaling Baht 220.38 million on February 27, 2026. On September 25, 2025, GSAHLD issued 39,610,000 additional ordinary shares with a par value of Baht 100 per share, with a paidup amount of Baht 30.20 per share. The Company invested in 9,902,500 GSAHLD’s ordinary shares, which have been partial paid up at Baht 30.20 per share, totaling Baht 299.06 million on September 25, 2025, and made the additional paid-up at Baht 1.39 per share, totaling Baht 13.76 million on February 27, 2026. GSA Data Center 03 Company Limited (“GSA03”) On January 6, 2026, GSA Data Center 03 Company Limited (“GSA03”) issued 10,000 ordinary shares with a par value of Baht 100 each, totaling Baht 1,000,000 which have been partial paid up at Baht 25 per share. AIS DC Venture Company Limited (“AISDC”) invested in 3,000 of GSA03's shares, totaling Baht 75,000. On January 21, 2026, GSA03 issued 76,520,000 additional ordinary shares with a par value of Baht 100 each, totaling Baht 7,652 million which have been partial paid up at Baht 25 per share. AISDC, invested in 22,956,000 of GSA03's additional shares, totaling Baht 574 million. AISDC will hold 30% of GSA03’s shares. On March 27, 2026 GSA03 registered the change of its Company name with the Ministry of Commerce to Gulf Edge Data Center 01 Company Limited (“GEDC01”) Thai Trinity Holding Company Limited (“TTYH”) On February 26, 2026, TTYH issued 450 million additional ordinary shares with a par value of Baht 10 each, totaling Baht 4,500 million. The Company invested in 175.50 million shares of TTYH’s ordinary shares, The Company made a full payment of Baht 10 per share, totaling Baht 1,755 million on 39% of TTYH’s share. On May 14, 2026, Clicx Bank Public Company Limited, a subsidiary of TTYH, received approval from the Minister of Finance to operate a commercial banking business (Virtual Bank) and regulated payment services businesses. Clicx Bank officially commenced operations on June 19, 2026. Movements in investments in joint ventures in the consolidated financial statements and separate financial statements for the six-month period ended June 30, are as follows: Unit: Million Baht Consolidated financial statements 2026 2025 As at January 1, 428 276 Dividend received (36) (30) Share of profit of joint ventures accounted for using equity method 44 39 Transfer of investment in subsidiary to joint venture - 1 As at June 30, 436 286 Unit: Million Baht 22
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7. CAPITAL EXPENDITURES Movements in capital expenditures for the six-month period ended June 30, are as follows: As at June 30, 2026 Separate financial statements 2026 2025 As at January 1, 102 - Transfer of investment in subsidiary to joint venture - 1 As at June 30, 102 1 Unit: Million Baht Consolidated financial statements Balance as at Increase Decrease Balance as at January 1, June 30, 2026 2026 Cost: Property, plant and equipment 343,962 9,499 (10,310) 343,151 Right-of-use assets 122,596 2,066 (1,273) 123,389 Other intangible assets other than goodwill 51,143 3,009 (5) 54,147 Spectrum licenses 214,197 - - 214,197 Total 731,898 14,574 (11,588) 734,884 Accumulated depreciation and amortization: Plant and equipment (218,164) (11,247) 9,101 (220,310) Right-of-use assets (42,699) (6,741) 1,145 (48,295) Other intangible assets other than goodwill (23,362) (2,352) 2 (25,712) Spectrum licenses (105,491) (6,962) - (112,453) Total (389,716) (27,302) 10,248 (406,770) Allowance for impairment: Plant and equipment (7,172) (334) 1,105 (6,401) Other intangible assets other than goodwill (145) - - (145) Total (7,317) (334) 1,105 (6,546) Net book value: Property, plant and equipment 118,626 116,440 Right-of-use assets 79,897 75,094 Other intangible assets other than goodwill 27,636 28,290 Spectrum licenses 108,706 101,744 Total 334,865 321,568 23
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As at June 30, 2025 Unit: Million Baht Consolidated financial statements Balance as at Increase Decrease Balance as at January 1, June 30, 2025 2025 Cost: Property, plant and equipment 345,149 6,190 (5,550) 345,789 Right-of-use assets 142,447 2,760 (2,245) 142,962 Other intangible assets other than goodwill 44,103 2,960 (106) 46,957 Spectrum licenses 200,063 - - 200,063 Total 731,762 11,910 (7,901) 735,771 Accumulated depreciation and amortization: Plant and equipment (210,247) (12,519) 5,267 (217,499) Right-of-use assets (51,736) (8,534) 2,131 (58,139) Other intangible assets other than goodwill (19,135) (2,099) 101 (21,133) Spectrum licenses (92,006) (6,496) - (98,502) Total (373,124) (29,648) 7,499 (395,273) Allowance for impairment: Plant and equipment (7,903) (1,061) 1,082 (7,882) Other intangible assets other than goodwill (138) - 22 (116) Total (8,041) (1,061) 1,104 (7,998) Net book value: Property, plant and equipment 126,999 120,408 Right-of-use assets 90,711 84,823 Other intangible assets other than goodwill 24,830 25,708 Spectrum licenses 108,057 101,561 Total 350,597 332,500 Depreciation and amortisation for the six-month period ended June 30, 2026 Million Baht 27,302 2025 Million Baht 29,648 25
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As at June 30, 2026 As at June 30, 2025 Unit: Million Baht Separate financial statements Balance as at Increase Decrease Balance as at January 1, June 30, 2026 2026 Cost: Property, plant and equipment 1,008 79 (14) 1,073 Right-of-use assets 399 172 (28) 543 Other intangible assets other than goodwill 324 - - 324 Total 1,731 251 (42) 1,940 Accumulated depreciation and amortization: Plant and equipment (976) (9) 13 (972) Right-of-use assets (240) (80) 24 (296) Other intangible assets other than goodwill (321) - - (321) Total (1,537) (89) 37 (1,589) Net book value: Property, plant and equipment 32 101 Right-of-use assets 159 247 Other intangible assets other than goodwill 3 3 Total 194 351 Unit: Million Baht Separate financial statements Balance as at Increase Decrease Balance as at January 1, June 30, 2025 2025 Cost: Property, plant and equipment 1,020 1 (2) 1,019 Right-of-use assets 452 13 (9) 456 Other intangible assets other than goodwill 324 - - 324 Total 1,796 14 (11) 1,799 Accumulated depreciation and amortization: Plant and equipment (972) (10) 2 (980) Right-of-use assets (153) (76) 9 (220) Other intangible assets other than goodwill (321) - - (321) Total (1,446) (86) 11 (1,521) Net book value: Property, plant and equipment 48 39 26
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The costs of spectrum licenses are initially recognised at cash equivalent price based on the present value of their acquisition cost. 8. INTEREST-BEARING LIABILITIES Interest-bearing liabilities as at June 30, 2026 and December 31, 2025 are as follows: Under the terms and conditions of the long-term borrowings and debentures, the Group and the Company have to comply with certain restrictions. Right-of-use assets 299 236 Other intangible assets other than goodwill 3 3 Total 350 278 Depreciation and amortisation for the six-month period ended June 30, 2026 Million Baht 89 2025 Million Baht 86 Unit: Million Baht Not e Consolidated Separate financial statements financial statements As at As at As at As at June 30, December 31, June 30, December 31, 2026 2025 2026 2025 Current Short-term borrowings 13 21,000 - 21,000 - Current portion of long-term liabilities - Current portion of long-term borrowings - net 13 5,000 5,384 - - - Current portion of long-term debentures - net - 15,178 - 7,999 Total current portion of long-term liabilities 5,000 20,562 - 7,999 Current portion of lease liabilities - net 13 13,604 13,372 142 129 Short-term borrowings from related parties 13 - - 6,585 6,410 Total current 39,604 33,934 27,727 14,538 Non-current Long-term liabilities - Long-term borrowings - net 13 23,065 10,539 15,001 - - Long-term debentures - net 100,831 67,450 91,833 58,452 Total long-term liabilities 123,896 77,989 106,834 58,452 Lease liabilities - net 13 74,946 80,291 106 32 Total non-current 198,842 158,280 106,940 58,484 Total 238,446 192,214 134,667 73,022 27
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As at June 30, 2026, the Group had no undrawn long-term borrowing credit facilities. The carrying amounts (gross of issue costs) and fair values of long-term debentures as at June 30, 2026 and December 31, 2025 are as follows: Unit: Million Baht Consolidated financial statements Carrying amount Fair values* As at As at As at As at June 30, December 31, June 30, December 31, 2026 2025 2026 2025 Long-term debentures 100,936 82,680 102,468 85,604 28
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* Fair values for traded debentures have been determined based on quoted selling prices from The Thai Bond Market Association and the secondary market of foreign bond that is quoted in an active market at the close of the business at the end of the reporting period. Long-term debenture issuance On March 4, 2026, the Company issued debentures USD 1,000 million equivalent to Baht 31,385 million, consisting of debentures with maturities of 5 years and 10 years, bearing fixed interest rates of 4.26% and 4.89% per annum, respectively. Long-term borrowing On April 10, 2026, the Company have long-term borrowing USD 450 million equivalent to Baht 14,507 million, consisting of long-term borrowing with maturities of 3 years, bearing SOFR Plus interest rates per annum. Short-term borrowing On April 28, 2026, the Company have short-term borrowing, amounting to Baht 21,000 million, consisting of short-term borrowing with a maturity of 1 year, bearing THOR Plus interest rates per annum. Movements of interest-bearing liabilities for the six-month period ended June 30, are as follows: Unit: Million Baht Separate financial statements Carrying amount Fair values* As at As at As at As at June 30, December 31, June 30, December 31, 2026 2025 2026 2025 Long-term debentures 91,936 66,500 93,211 69,067 Unit: Million Baht Consolidated financial statements Short-term borrowings Long-term borrowings Long-term debentures Lease liabilities Total As at January 1, 2026 - 15,923 82,628 93,663 192,214 Cash flows items: Addition 25,000 14,507 31,385 - 70,892 Repayments (4,000) (2,858) (15,180) (7,052) (29,090) Transaction cost - (49) (64) - (113) Total cash flows items 21,000 11,600 16,141 (7,052) 41,689 Non-cash changes items: Addition - - - 2,066 2,066 Termination - - - (128) (128) 29
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Amortisation as expenses - 4 10 - 14 Unrealized loss on foreign exchange rate - 538 2,052 1 2,591 Total non-cash changes items - 542 2,062 1,939 4,543 As at June 30, 2026 21,000 28,065 100,831 88,550 238,446 Unit: Million Baht Consolidated financial statements Short-term borrowings Long-term borrowings Long-term debentures Lease liabilities Total As at January 1, 2025 12,000 29,190 67,631 104,809 213,630 Cash flows items: Repayments - (7,379) - (8,845) (16,224) Transaction cost (4) - - - (4) Total cash flows items (4) (7,379) - (8,845) (16,228) Non-cash changes items: Addition - - - 2,760 2,760 Termination - - - (105) (105) Amortisation as expenses 4 3 6 - 13 Unrealized loss on foreign exchange rate - - - 1 1 Total non-cash changes items 4 3 6 2,656 2,669 As at June 30, 2025 12,000 21,814 67,637 98,620 200,071 Unit: Million Baht Separate financial statements Short-term borrowings Short-term borrowings from related parties Long-term borrowings Long-term debentures Lease liabilities Total As at January 1, 2026 - 6,410 - 66,451 161 73,022 Cash flows items: Addition 21,000 985 14,507 31,385 - 67,877 Repayments - (810) - (8,000) (81) (8,891) Transaction cost - - (49) (65) - (114) Total cash flows items 21,000 175 14,458 23,320 (81) 58,872 Non-cash changes items: 30
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Addition - - - - 172 172 Terminate - - - - (4) (4) Amortisation as expenses - - 4 10 - 14 Unrealized loss on foreign exchange rate - - 539 2,052 - 2,591 Total non-cash changes items - - 543 2,062 168 2,773 As at June 30, 2026 21,000 6,585 15,001 91,833 248 134,667 31
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9. SPECTRUM LICENSES PAYABLE Movements in spectrum licenses payable in the consolidated financial statements for the six-month period ended June 30, are as follows: (Separate financial statements: Nil) 10.SEGMENT FINANCIAL INFORMATION AND DISAGGREGATION OF REVENUE The Group comprises the following operating segments: Information about reportable segments Unit: Million Baht Separate financial statements Short-term borrowings Short-term borrowings from related parties Long-term debentures Lease liabilities Total As at January 1, 2025 12,000 8,050 51,456 301 71,807 Cash flows items: Addition - 3,680 - - 3,680 Repayments - (3,400) - (76) (3,476) Transaction cost (4) - - - (4) Total cash flows items (4) 280 - (76) 200 Non-cash changes items: Addition - - - 13 13 Amortisation as expenses 4 - 5 - 9 Total non-cash changes items 4 - 5 13 22 As at June 30, 2025 12,000 8,330 51,461 238 72,029 Unit: Million Baht Consolidated financial statements 2026 2025 As at January 1, 45,201 52,964 Payments (8,123) (8,123) Amortisation of deferred interest expense 533 628 As at June 30, 37,611 45,469 Segment 1 Mobile phone services Segment 2 Mobile phone and equipment sales Segment 3 Datanet and broadband services 32
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Performance for the six-month period ended June 30, is as follows : Reportable assets as at June 30, 2026 and December 31, 2025, are as follows: Revenue Disaggregation of revenue The Group recognises revenue from the sale of goods and rendering of services to customers at a point in time and over time by type of goods or main services. The disclosure of segment financial information and disaggregation of revenue for the six-month period ended June 30, are as follows: 11.TAX EXPENSE Unit: Million Baht Mobile phone Mobile phone Datanet and broadband Total services and equipment sales services reportable segments 2026 2025 2026 2025 2026 2025 2026 2025 External revenue 71,851 71,652 22,151 20,983 20,692 19,720 114,694 112,355 Segment profit before income tax expense 27,723 21,770 884 833 5,336 4,177 33,943 26,780 Unit: Million Baht Mobile phone Mobile phone Datanet and broadband Total services and equipment sales services reportable segments As at As at As at As at As at As at As at As at June 30, December 31, June 30, December 31, June 30, December 31, June 30, December 31, 2026 2025 2026 2025 2026 2025 2026 2025 Segment assets 289,598 302,277 8,184 8,080 104,005 109,916 401,787 420,273 Unit: Million Baht 2026 2025 Timing of revenue recognition Point in time Segment 2 -Mobile phone and equipment sales 22,151 20,983 Segment 3 -Datanet and broadband services 113 102 22,264 21,085 Over time Segment 1 -Mobile phone services 71,851 71,652 Segment 3 -Datanet and broadband services 20,579 19,618 92,430 91,270 Total 114,694 112,355 33
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Tax expense is recognised based on management’s best estimate of the weighted average annual income tax rate expected for the full financial year applied to the pre-tax income of the interim period. The effective tax rates in respect of operations for the six-month period ended June 30, 2026 for the Group and the Company were 19.83% and 0.11%, respectively (for the six-month period ended June 30, 2025: the effective tax rates of the Group and the Company were 19.47% and 0.08%, respectively). 34
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12.DIVIDENDS At the Annual General Meeting of the Shareholders of the Company held on March 24, 2025, the shareholders approved the appropriation of dividend of Baht 10.61 per share. The Company paid an interim dividend at the rate of Baht 4.87 per share on September 3, 2024, therefore the remaining dividend to be paid was Baht 5.74 per share, amounting to Baht 17,071 million. The dividend was paid to shareholders on April 10, 2025. On August 6, 2025, the Board of Directors approved the declaration of an interim dividend of Baht 6.89 per share, amounting to Baht 20,490 million. The interim dividend was paid to the shareholders on September 3, 2025 At the Annual General Meeting of Shareholders of the Company held on April 7, 2026, the shareholders approved the following dividend payments: (a)Final dividend for the year ended 31 December 2025 at the rate of Baht 15.30 per share. The Company has already paid an interim dividend of 6.89 Baht per share on 3 September 2025; and (b)Special dividend at the rate of Baht 19 per share. The dividend was paid to shareholders on April 30, 2026, amounting to Baht 81,516 million. 13.RELATED PARTIES Significant transactions with related parties for the six-month period ended June 30, are as follows: Unit: Million Baht Consolidated Separate financial statements financial statements 2026 2025 2026 2025 Revenue from sale, rendering of service and equipment rentals Subsidiaries - - 1,428 1,499 Gulf Group 38 29 - - Singtel Group 121 82 - - Joint ventures 1 1 - - Associates 235 243 - 1 Other related parties 169 373 - - Total 564 728 1,428 1,500 Dividend received from Subsidiary - - 56,445 5,388 Joint venture 36 30 - - Associates 358 9 340 - Total 394 39 56,785 5,388 Finance income Subsidiaries - - 861 886 Associates 32 28 - - 35
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Other related parties 58 32 - - Total 90 60 861 886 Other income Subsidiaries - - 23 22 Joint ventures 6 5 - - Total 6 5 23 22 Rental and other service expenses Subsidiaries - - 54 49 Gulf Group 46 34 13 7 Singtel Group 75 181 - - Joint ventures 657 41 - - Associates 2,248 2,231 - - Other related parties 23 1 - - Total 3,049 2,488 67 56 Management benefit expenses Short-term employee benefit 121 116 121 116 Long-term employee benefit 2 - 2 - Total 123 116 123 116 Purchase of property and other assets Gulf Group 6 12 - - Associates 11 - - - Total 17 12 - - Finance costs Subsidiaries - - 18 42 Associates 1,400 1,480 - - Other related parties 249 260 111 49 Total 1,649 1,740 129 91 Dividend paid to INTOUCH (discontinued operation in 2025) - 6,904 - 6,904 Gulf 32,967 - 32,967 - Singtel 20,187 3,980 20,187 3,980 Unit: Million Baht Consolidated Separate financial statements financial statements 2026 2025 2026 2025 36
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Balances with related parties as at June 30, 2026 and December 31, 2025 are as follows: Total 53,154 10,884 53,154 10,884 Unit: Million Baht Consolidated Separate financial statements financial statements 2026 2025 2026 2025 Unit: Million Baht Consolidated Separate financial statements financial statements As at As at As at As at June 30, December 31, June 30, December 31, 2026 2025 2026 2025 Cash and cash equivalents Bank deposit Other related parties 5,874 9,761 1 1 Trade and other current receivables Trade receivables Subsidiaries - - 261 75 Gulf Group 8 6 - - Singtel Group 45 32 - 1 Associates 1 199 - - Other related parties 31 9 - - Total 85 246 261 76 Accrued income Gulf Group 12 12 - - Singtel Group 2 2 - - Associates 81 - - - Other related parties 19 22 - - Total 114 36 - - Total trade receivables 199 282 261 76 Other current receivables Subsidiaries - - 443 234 Joint ventures 65 68 - - Associates 73 21 - - 37
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As at June 30, 2026 the Company has short-term loans to related parties representing promissory notes at call, comprising Thai Baht-denominated loans amounting to Baht 76,482 million, bearing interest at the average rate of 2.65 % per annum (as at December 31, 2025: interest at the average rate of 2.79% per annum) and United States Dollar-denominated loans amounting to USD 20 million, or the equivalent of Baht 658 million, bearing interest at SOFR plus an applicable margin per annum (as at December 31, 2025: Nil). Movements of short-term loans to related parties for the six-month period ended June 30, are as follows: Total other current receivables 138 89 443 234 Total trade and other current receivables 337 371 704 310 Short-term loans to related parties Subsidiaries - - 77,145 44,021 Unit: Million Baht Consolidated Separate financial statements financial statements As at As at As at As at June 30, December 31, June 30, December 31, Unit: Million Baht Consolidated financial statements 2026 2025 Short-term loans to related parties As at January 1, - - Increase - 450 As at June 30, - 450 38
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As at June 30, 2026 the Group has long-term loans to related parties representing credit facility agreement, bearing interest at the average rate of 5.00% per annum (as at December 31, 2025: interest at the average rate of 5.00% per annum). The loan will be repayable within November 2026. The loans are unsecured. Movements of long-term loans to related parties for the six-month period ended June 30, are as follows: Unit: Million Baht Separate financial statements 2026 2025 Short-term loans to related parties As at January 1, 44,021 65,148 Increase 47,239 859 Decrease (14,120) (9,312) Unrealised gain on exchange rate 5 - As at June 30, 77,145 56,695 Unit: Million Baht Consolidated financial statements As at As at June 30, December 31, 2026 2025 Current portion of long-term loan to related parties Associate 930 1,105 Long-term loans to related parties Associates 390 125 Total 1,320 1,230 Unit: Million Baht Consolidated financial statements 2026 2025 Long-term loans to related parties As at January 1, 1,230 670 Increase 265 410 Decrease (175) - As at June 30, 1,320 1,080 39
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Unit: Million Baht Consolidated Separate financial statements financial statements As at As at As at As at June 30, December 31, June 30, December 31, 2026 2025 2026 2025 Trade and other current payables Trade payables Subsidiaries - - 9 10 Gulf Group 12 6 2 - Singtel Group 1 - - - Joint ventures 8 2 - - Associates 8 4 - - Other related parties - 1 - - Total trade payables 29 13 11 10 Other current payables Accrued expenses Subsidiaries - - 16 21 Gulf Group 3 4 - - Singtel Group 278 266 - - Joint ventures 332 116 - - Associates 2 1 - - Other related parties 250 106 178 - Total other current payables 865 493 194 21 Total trade and other current payables 894 506 205 31 Lease liabilities Gulf Group 9 1 - - Associates 68,052 70,375 - - Other related parties 10 16 - - Total lease liabilities 68,071 70,392 - - Short-term borrowings from related parties Subsidiaries - - 6,585 6,410 Other related parties 11,000 - 11,000 - Total 11,000 - 17,585 6,410 40
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As at June 30, 2026, short-term borrowings from related parties of the Group and the Company represented promissory notes at call, bearing interest at the average rate of 1.29% and 1.01% per annum, respectively, and are unsecured (as at December 31, 2025: the Company had an average interest rate of 0.76% per annum and are unsecured ). Movements of short-term borrowings from related parties for the six-month period ended June 30, are as follows: Unit: Million Baht Consolidated Separate financial statements financial statements 2026 2025 2026 2025 Short-term borrowings from related parties As at January 1, - 4,000 6,410 12,050 Increase 15,000 - 11,985 3,680 Decrease (4,000) - (810) (3,400) As at June 30, 11,000 4,000 17,585 12,330 41
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As at June 30, 2026 and December 31, 2025, the Group has long-term borrowings from related party follows : Movements of long-term borrowings from related party for the six-month period ended June 30, are as follows: Unit: Million Baht Consolidated financial statements As at As at June 30, December 31, 2026 2025 Current portion of long-term borrowings from related party Other related party 3,800 3,750 Long-term borrowings from related party - net Other related party 6,075 8,000 Total 9,875 11,750 Unit: Million Baht Interest rate Term of Principal payment term Consolidated (per annum) interest financial statements payment June 30, December 31, 2026 2025 THOR plus margin Semi-annual14 installments from 2022 to 2028 9,375 11,250 THOR plus margin Quarterly 20 equal installments from 2026 to 2031 500 500 Total loans 9,875 11,750 Unit: Million Baht Consolidated financial statements 2026 2025 Long-term borrowings from related party As at January 1, 11,750 13,250 Decrease (1,875) (750) As at June 30, 9,875 12,500 42
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14.FINANCIAL INSTRUMENTS Classification of financial assets and liabilities as at June 30, 2026 and December 31, 2025 in the consolidated financial statements are as follow: Unit: Million Baht Consolidated financial statements As at As at June 30, December 31, 2026 2025 Current asset Other current financial asset Investment in debt instrument - 2 Forward contracts 182 - Total current asset 182 2 Non-current assets Other non-current financial assets Investment in equity securities measured at fair value through other comprehensive income 773 115 Cross currency swap 2,273 - Total non-current assets 3,046 115 Total assets 3,228 117 Current liabilities Other current financial liabilities Forward contracts (4) (27) Total current liabilities (4) (27) Non-current liability Other non-current financial liability Interest rate swap (44) (61) Total non-current liability (44) (61) Total liabilities (48) (88) Total 3,180 29 Unit: Million Baht Separate financial statements 43
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Fair values of financial assets and liabilities Financial assets and liabilities measured at fair value in the consolidated and separate financial statements as at June 30, 2026 and December 31, 2025, are as follows: As at As at June 30, December 31, 2026 2025 Non-current asset Other non-current financial asset Investment in equity securities measured at fair value through other comprehensive income 62 62 Cross currency swap 2,273 - Total non-current asset 2,335 62 Total asset 2,335 62 Unit: Million Baht Consolidated financial statements Carrying Fair value amount Level 1 Level 2 Level 3 Total June 30, 2026 Current assets Other current financial assets Forward contracts 182 - 182 - 182 Total Other current financial assets 182 Non-current assets Other non-current financial liabilities Investment in equity securities measured at fair value through other comprehensive income 773 - 671 102 773 Cross currency swap 2,273 - 2,273 - 2,273 Total Other non-current financial assets 3,046 Current liabilities Other current financial liabilities Forward contracts (4) - (4) - (4) Total Other current financial liabilities (4) Non-current liabilities Other non-current financial liabilities Interest rate swap (44) - - (44) (44) 44
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Total Other non-current financial liabilities (44) Long-term liabilities Debentures* (100,936 ) - (102,46 8) - (102,46 8) Total Long-term liabilities (100,936 ) Unit: Million Baht Consolidated financial statements Carrying Fair value amount Level 1 Level 2 Level 3 Total June 30, 2026 Unit: Million Baht Consolidated financial statements Carrying Fair value amount Level 1 Level 2 Level 3 Total December 31, 2025 Current assets Other current financial assets Investment in debt instrument 2 - 2 - 2 Total Other current financial assets 2 Non-current assets Other non-current financial liabilities Investment in equity securities measured at fair value through other comprehensive income 115 - 13 102 115 Total Other non-current financial assets 115 Current liabilities Other current financial liabilities Forward contracts (27) - (27) - (27) Total Other current financial liabilities (27) Current portion of long-term liabilities Debentures* (15,180) - (15,257 ) - (15,257 )Total Current portion of long-term liabilities (15,180) 45
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Non-current liabilities Other non-current financial liabilities Interest rate swap (61) - - (61) (61) Total Other non-current financial liabilities (61) Long-term liabilities Debentures* (67,500) - (70,347 ) - (70,347 )Total Long-term liabilities (67,500) Unit: Million Baht Consolidated financial statements Carrying Fair value amount Level 1 Level 2 Level 3 Total December 31, 2025 Unit: Million Baht Separate financial statements Carrying Fair value amount Level 1 Level 2 Level 3 Total June 30, 2026 Non-current assets Other non-current financial liabilities Investment in equity securities measured at fair value through other comprehensive income 62 - - 62 62 Cross currency swap 2,273 - 2,273 - 2,273 Total Other non-current financial assets 2,335 Non-current liabilities Long-term liabilities Debentures* (91,936) - (93,211) - (93,211) Total Long-term liabilities (91,936) Unit: Million Baht Separate financial statements Carrying Fair value amount Level 1 Level 2 Level 3 Total December 31, 2025 Non-current assets Other non-current financial liabilities 46
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* The carrying amounts (gross of issue costs). The following table presents valuation technique of financial instruments measured at fair value in statement of financial position, which have significant changes in valuation technique and unobservable input during the period. On June 30, 2026, the Company had cross currency swap to exchange principal amounts and interest payment dominated in the different currencies. These contracts were measured at the fair value level 2 in valuation by observable inputs of the assets or liabilities directly or indirectly. Investment in equity security During the six-month period ended June 30, 2026, the Group invested in a foreign fund, totaling Baht 638 million and the Group recognition of gain on investment in equity designated at fair value through other comprehensive income, totaling Baht 20 million. Investment in equity securities measured at fair value through other comprehensive income 62 - - 62 62 Total Other non-current financial assets 62 Current liabilities Current portion of long-term liabilities Debentures* (8,000) - (8,037) - (8,037) Total Current portion of long-term liabilities (8,000) Non-current liabilities Long-term liabilities Debentures* (58,500) - (61,030 ) - (61,030 )Total Long-term liabilities (58,500) Unit: Million Baht Separate financial statements Carrying Fair value amount Level 1 Level 2 Level 3 Total Type Valuation technique Interest rate swaps Swap models: The present value of estimated future cash flows, using an observable yield curve. Forward contracts Based on the rates quoted forward exchanged rates from commercial banks at the reporting date. Cross currency swap Discounted cash flows, using model from observable market data (Observable Market Data) Investment in equity security The fair value of securities is measured using the latest quoted market prices publicly available as of the last day of the reporting period, or the net asset value as at the reporting date, as applicable. 47
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15.COMMITMENTS WITH NON-RELATED PARTIES Commitments with non-related parties as at June 30, 2026 and December 31, 2025 are as follows: Unit: Million Consolidated Separate financial statements financial statements As at As at As at As at June 30, December 31, June 30, December 31, 2026 2025 2026 2025 Capital commitments Unrecognised contractual commitments Buildings and equipment Thai Baht (THB) 7,354 5,545 91 123 US Dollar (USD) 216 166 - - Service maintenance Thai Baht (THB) 3,456 2,570 42 25 US Dollar (USD) 55 28 - - Euro (EUR) 1 - - - Unit: Million Baht Consolidated financial statements As at As at June 30, December 31, 2026 2025 Non-cancellable operating lease commitments Within one year 85 94 After one year but within five years 70 99 Total 155 193 Unit: Million Consolidated Separate financial statements financial statements As at As at As at As at June 30, December 31, June 30, December 31, 2026 2025 2026 2025 48
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Other Thai Baht (THB) Forward contracts 5,019 2,040 - - Cross currency swap contracts 45,892 - 45,892 - Bank guarantees: - Spectrum licenses 42,712 51,404 - - - Others 4,670 5,858 31 31 Total 98,293 59,302 45,923 31 US Dollar (USD) Contract of investment in equity security 31 - - - 49
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16.SIGNIFICANT EVENTS, COMMERCIAL DISPUTES AND LITIGATIONS The Company 1)900 MHz subscribers migration to 3G 2100 MHz On September 25, 2014, the National Telecom Public Company Limited (“NT”) submitted a dispute under Black case No. 80/2557 to the Arbitration Institute, demanding the Company to pay compensation for a breach in the Concession Agreement between the Company and NT, regarding the Company porting its 900 MHz subscribers to the 3G 2100 MHz system provided by its subsidiary. The compensation claimed was Baht 9,126 million bearing interest of 7.5% per annum from September 25, 2014 until the full amount is paid. On March 29, 2016, NT submitted a revision to amend the compensation amount for the period from May 2013 to September 2015, the end date of operation agreement, to Baht 32,813 million plus V AT and interest at 1.25% per month from June 2013 until the full amount is paid. On February 14, 2019, the Arbitral Tribunal dismissed the said dispute by giving the reason which the Company was not in breach of the Agreement. On May 15, 2019, NT submitted Black case No.951/2562 to the Central Administrative Court to revoke the arbitrament. On September 22, 2023, the Central Administrative Court dismissed NT's request to revoke the arbitration award. On October 18, 2023, NT appealed the judgment by the Central Administrative Court to the Supreme Administrative Court Black case No.Or.2102/2566. The case is currently under the consideration of the Supreme Administrative Court. The Company’s management believes that the outcome of the dispute should be settled favourably and should not have a considerable impact on the financial statements of the Company. 2)The claim for additional revenue from the 6th and 7th Amendments to the Agreement for operations (“the Agreement”) On September 30, 2015, the Company submitted the dispute Black case No. 78/2558 to the Arbitration Institute, Court of Justice to decide regarding the 6th Amendment dated May 15, 2001 and the 7th Amendment dated September 20, 2002 to the Agreement for operations to conduct business of Cellular Mobile Telephone that the amendments bind the Company and National Telecom Public Company Limited (“NT”) to comply with the amendments until the expiration of the Agreement for operations and the Company has no obligation to pay for the additional revenue according to the letter claimed by NT to the Company on September 29, 2015 regarding to request the payment of additional revenue in the amount of Baht 72,036 million which NT has claimed that the 6th and 7th Amendments were material which caused NT to receive lower revenue than the rate as specified in the Agreement for operations. On November 30, 2015, NT submitted a dispute under Black case No.122/2558 to the Arbitration Institute to decrease the claimed amount to Baht 62,774 million, according to the percentage of adjustment to revenue sharing. This case is the same as the dispute under Black case No. 78/2558, so the Arbitration Committee tried these cases together. 50
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The Company received the arbitrament from the Arbitration Committee dated January 23, 2020, with a majority vote ordering the Company to pay additional remuneration of Baht 31,076 million at an interest rate of 1.25% per month to NT from the day after November 30, 2015, until the full amount is paid. The Company disagreed with the decision, and on April 22, 2020, the Company filed a request for revocation of the award to the Central Administrative Court (Black case No. 1165/2563). On April 23, 2020, NT requested the revocation of the decision made by the Arbitration Committee to the Central Administrative Court that NT’s claim of Baht 31,698 million related to after the claim period (Black case No. 1171/2563). On July 26, 2022, the Central Administrative Court decided to revoke the Arbitration Committee’s verdict because the 6th and 7th Amendments of the Agreement still have a binding effect on the parties. Therefore, the Company does not have to pay for the additional revenue as claimed by NT. On August 24, 2022, NT appealed the judgment by the Central Administrative Court to the Supreme Administrative Court. The case is currently under the consideration of the Supreme Administrative Court. Accordingly, the dispute has not yet been finalised, but the Company’s management considers that the ultimate resolution of the above dispute should not have a considerable impact on the financial statements of the Company. 3)The Company submitted a claim to the Central Administrative Court for revocation of the National Telecommunication Commission order regarding revenue incurred from the temporary service for 900 MHz customer protection period after the Concession end On May 1, 2017, the Company filed a lawsuit against the office of the National Broadcasting and Telecommunication Committee (“NBTC office”), the National Telecommunication Committee (“NTC”), the National Broadcasting and Telecommunication Committee (“NBTC”) and 5 other persons to the Central Administrative Court under Black case No. 736/2560 to revoke the NBTC office’s letter and resolution which ordered the Company to pay revenue during the subscriber protection period after the expiration of the Concession agreement from October 1, 2015, to June 30, 2016, amounting to Baht 7,221 million plus interest. On June 15, 2017, the Company received an indictment dated April 21, 2017, in which the NBTC and the NBTC office filed a lawsuit, under Black case No. 661/2560, against the Company for the same amount to the Central Administration Court, ordering the Company to pay revenue during the customer protection period. On June 12, 2020, the Central Administrative Court revoked the NBTC’s order on the grounds that during the 900 MHz’s customer protection period, the Company’s expenses incurred from the service exceeded the revenues generated. On July 8, 2020 and July 17, 2020, the NBTC and the NBTC office appealed to the Supreme Administrative Court. The case is currently under the consideration of the Supreme Administrative Court. 51
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The Company’s management has considered that the Company has complied with NBTC announcement regarding the Temporary Customer Protection Plan Following the Expiration of the Agreement for operations (“Telecommunication Service Agreement”) and the Company was obliged to submit the revenue after deducting any expenses to NBTC office but the Company’s expenses incurred from the service was greater than the revenue. Therefore, the Company has no remaining revenue to submit to NBTC Office as stipulated in the announcement. 4)Claim for the additional revenue sharing from the rental charge for providing transmission services National Telecom Public Company Limited (“NT”) submitted dispute No. A1/2018 dated January 12, 2018, to the Arbitration Institute, demanding the Company pay for the additional revenue sharing from the rental charges of the transmission system from October 2012 to September 2015, totalling Baht 1,121.92 million (including V AT), plus the default interest rate of 1.25% per month. According to NT's views, the Company has to collect the rental charges of the transmission system at the rate specified by NT, which is higher than the rate that the Company charged to the tenant. On December 19, 2022, the Company received the award by the Arbitration Committee to revoke NT’s dispute claims under the reason that such claims regarding the rental charges of the transmission system were disputes in relation to the compliance with the NBTC’s notification and not the disputes in relation to the Concession Agreement, as the Arbitration Committee had no jurisdiction to adjudicate the dispute. On March 16, 2023, NT submitted the request to revoke the Arbitration Committee’s award to the Central Administrative Court as the Black Case No. 516/2566. The case is currently under the consideration of the Central Administrative Court. The Company’s management believes that the Company has correctly complied with the relating conditions of the Agreement in all respects, therefore the outcome of the dispute should not materially impact the financial statements of the Company. 5)Claim for the usage of colocation, site facilities and related equipment rental for assets provided during the temporary customer protection period after the Cellular Mobile Telephone Concession ended On February 15, 2018, the National Telecom Public Company Limited (“NT”) submitted dispute No. A3/2018 to the Arbitration Institute, Ministry of Justice by Thailand Arbitration Center (“THAC”) to claim for usage fees for colocation, site facilities and related equipment rental for assets under Cellular Mobile Telephone Concession during the temporary customer protection period after the Concession ended. The claim amounted to Baht 183.44 million (included V AT) plus the default interest rate of 1.25% per month. On April 5, 2018, the Company submitted a dispute under Black case No.Kor.3/2561 to the Central Administrative Court to revoke the THAC’s order for consideration for dispute No. A3/2018. On April 25, 2018, the Central Administrative Court dismissed Black case No. Kor.3/2561. Subsequently, on May 21, 2018, the Company appealed the dismissal of Black case No. Kor.3/2561. On October 29, 2019, NT filed a petition to the Central Administrative Court to withdraw the dispute from THAC. On February 13, 2020, the Arbitration Committee allowed NT to submit a petition to dismiss the above dispute. On August 13, 2020, the Company received a copy of Black case No. 1746/2563 dated June 30, 2020. On September 26, 2025, the Central Administrative Court rendered a judgment ordering to pay the amount of Baht 54 million plus the default interest. On October 24, 2025, the Company submitted an appeal to the Supreme Administrative Court. The case is currently under the consideration of the Supreme Administrative Court. 52
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The Company’s management believes that the Company has correctly complied with the relating conditions of the Agreement and the announcement of the National Broadcasting and Telecommunication Committee in all respects, so the outcome of the dispute should be settled favourably and will not materially impact on the financial statements of the Company. Digital Phone Company Limited (“DPC”) 1)The claim for the usage/revenue arising from the use of telecommunication equipment and telecommunication network during the temporary customer protection period after the Concession ended On May 20, 2015, the National Telecom Public Company Limited (“NT”) filed a lawsuit against the office of the National Broadcasting and Telecommunication Committee (“NBTC Office”), National Telecommunication Committee (“NTC”), National Broadcasting and Telecommunication Committee (“NBTC”), True Move Company Limited (“True Move”), and DPC to the Central Administrative Court under Black case No.918/2558. The lawsuit asked the defendants to pay fees and compensation for the usage of telecommunication equipment and telecommunication network of NT during the temporary customer protection period, subject to the announcement of NBTC regarding the Temporary Customer Protection Plan Following the Expiration of the Agreement for operations (“Telecommunication Service Agreement”). The fees and compensation were calculated for the period from September 16, 2013, to September 15, 2014. The total amounts are as follows: 1)NBTC Office, NTC and NBTC amounting to Baht 24,117 million plus interest at the rate of 7.5% per annum. 2)True Move, NBTC Office, NTC and NBTC amounting to Baht 18,025 million plus interest at the rate of 7.5% per annum. 3)DPC, NBTC Office, NTC and NBTC amounting to Baht 6,083 million plus interest at the rate of 7.5% per annum. On September 11, 2015, NT filed a lawsuit to the Central Administrative Court under Black case No. 1651/2558, claiming for usage fees/revenue from the usage of telecommunication equipment and telecommunication network of NT from September 16, 2014, to July 17, 2015. The total amounts are as follows: 1)NBTC Office, NTC and NBTC amounting to Baht 6,521 million plus interest at the rate of 7.5% per annum. 2)True Move, NBTC Office, NTC and NBTC amounting to Baht 4,991 million plus interest at the rate of 7.5% per annum. 3)DPC, NBTC Office, NTC and NBTC amounting to Baht 1,635 million plus interest at the rate of 7.5% per annum. On May 27, 2016, NT filed a lawsuit to the Central Administrative Court under Black case No. 741/2559, claiming for usage fees/revenue from the usage of telecommunication equipment and telecommunication network of NT from July 18, 2015, to November 25, 2015. The total amounts are as follows: 1)NBTC Office, NTC and NBTC amounting to Baht 2,857 million plus interest at the rate of 7.5% per annum. 2)True Move, NBTC Office, NTC and NBTC amounting to Baht 2,184 million plus interest at the rate of 7.5% per annum. 3)DPC, NBTC Office, NTC and NBTC amounting to Baht 673 million plus interest at the rate of 7.5% per annum. During December 2019, DPC received a request from the Central Administrative Court to amend the claim amounts in the petition filed by NT on September 24, 2019 to be as follows: 53
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Black case No. 918/2558 1)NBTC Office, NTC and NBTC amounting to Baht 5,109 million plus interest at the rate of 7.5% per annum. 2)True Move, NBTC Office, NTC and NBTC amounting to Baht 3,651 million plus interest at the rate of 7.5% per annum. 3)DPC, NBTC Office, NTC and NBTC amounting to Baht 1,457 million plus interest at the rate of 7.5% per annum. Black case No. 1651/2558 1)NBTC Office, NTC and NBTC amounting to Baht 4,169 million plus interest at the rate of 7.5% per annum. 2)True Move, NBTC Office, NTC and NBTC amounting to Baht 2,946 million plus interest at the rate of 7.5% per annum. 3)DPC, NBTC Office, NTC and NBTC amounting to Baht 1,223 million plus interest at the rate of 7.5% per annum. Black case No. 741/2559 1)NBTC Office, NTC and NBTC amounting to Baht 1,858 million plus interest at the rate of 7.5% per annum. 2)True Move, NBTC Office, NTC and NBTC amounting to Baht 1,336 million plus interest at the rate of 7.5% per annum. 3)DPC, NBTC Office, NTC and NBTC amounting to Baht 522 million plus interest at the rate of 7.5% per annum. On April 29, 2022, the Central Administrative Court dismissed the cases against DPC under Black case No. 918/2558 and 1651/2558 for a total requested amount from DPC of Baht 2,680 million. The court ordered NBTC to pay NT Baht 361 million including interest. On May 30, 2022, NT filed an appeal regarding the Black Case No. 918/2558 and No. 1651/2558 to the Supreme Administrative Court as the Black Case No. Or. 1229/2565 and Or. 1203/2565. DPC received a notification from the Supreme Administrative Court on August 18, 2022 and October 10, 2022 respectively. Currently, the case is under the consideration by the Supreme Administrative Court. On December 28, 2022, the Central Administrative Court dismissed the case against DPC under the Black case No. 741/2559 for a total requested amount from DPC of Baht 522 million. On January 26, 2023, NT submitted the appeal for the decision in the case no. 741/2559 as the Black Case No. Or.347/2566. Currently, the case is under the consideration by the Supreme Administrative Court. The management of the Group believes that DPC has no obligation to pay for the usage fees and compensation from the usage of telecommunication equipment and telecommunication network as claimed by NT due to DPC has complied with the announcement of NBTC. Therefore, the outcome of the disputes should be settled favourably and have no considerable impact to the consolidated financial statements of the Group. 2)The claim for revocation of the National Telecommunication Committee’s (“NTC”) order regarding the revenue incurred from the temporary service during the customer protection period after the Concession ended On November 16, 2015, DPC filed a lawsuit against the National Broadcasting and Telecommunication Committee (“NBTC”) to the Central Administrative Court under case No. 1997/2558. This filed lawsuit revoked the NTC resolution, in which the office of the NBTC demanded 54
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that DPC deliver the revenue during the consumer protection period from September 16, 2013, to July 17, 2014, amounting to Baht 628 million. In the same case, on September 16, 2016, the NBTC and the office of the National Broadcasting and Telecommunication Committee (“NBTC office”) filed a complaint to the Central Administrative Court as the Black Case No. 1441/2559. This complaint requested DPC to deliver revenue sharing for the consumer protection period from September 16, 2013 to July 17, 2014. The claim amount was Baht 680 million (including interest up to the submitted date of Baht 52 million) plus interest at the rate of 7.5% per annum of the claim amount from the submitted date until DPC delivers all revenue sharing in full. On September 5, 2018, the NTC issued a letter informing of their resolution to allow DPC to deliver the revenue from the service income during the protection of all subscribers, totalling Baht 869 million. However, the NBTC had ordered DPC to provide a payment of Baht 628 million for the first period, and the remaining amount to be paid is Baht 241 million. Subsequently, on December 7, 2018, DPC filed a lawsuit with the Central Administrative Court to revoke such a resolution of NTC. On June 2, 2021, the Central Administrative Court ordered the merger of the three cases. On March 30, 2022, the Central Administrative Court revoked the NTC’s resolution, which ordered DPC to deliver the revenue from the service income during the protection of all subscribers in the total amount of Baht 869 million. The reason is that DPC had expenses incurred from the provision of services greater than the revenues generated. On April 28, 2022, the NBTC submitted an appeal to the Supreme Administrative Court. Currently, the case is under the consideration by the Supreme Administrative Court. 55
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The Group’s management considers that DPC has complied with the NBTC announcement regarding the Temporary Customer Protection Plan Following the Expiration of the Agreement for operations (“Telecommunication Service Agreement”) in 2013 and that DPC is obliged to submit the revenue after deducting any expenses to the NBTC office. However, DPC has expenses incurred from the service greater than the revenues generated. Therefore, DPC has no revenue remaining to submit to NBTC as stipulated in the announcement. Advanced Wireless Network Company Limited (“AWN”) The claim for revocation of the NBTC’s order regarding Mobile Number Portability (MNP) During 2015 - 2020, AWN received an administrative order (“Order”) from the Office of NBTC to pay administrative fines regarding a mobile number portability issue. AWN filed a revocation request of the Order to the Central Administrative Court for Black case No. 1357/2560, which claimed Baht 221 million from AWN, and for Black case No. 2212/2563, which claimed Baht 605 million from AWN. On August 26, 2020, the Central Administrative Court gave a verdict on Black case No. 1357/2560 to revoke that the administrative fines shall not exceed Baht 20,000 per day. As a result, the administrative fines were decreased to Baht 0.82 million. On September 25, 2020, AWN appealed to the Supreme Administrative Court. On September 20, 2024, the Central Administrative Court gave a verdict on Black case No. 2212/2563 to revoke that the administrative fines shall not exceed Baht 20,000 per day. As a result, the administrative fines were decreased to Baht 1.42 million. AWN appealed to the Supreme Administrative Court on October 18, 2024, to revoke all orders regarding administrative fines. Currently, both cases are being considered by the Supreme Administrative Court. The AWN's management believes that AWN conducted everything correctly with respect to the relevant agreement terms, therefore the outcome of this case should not have a significant impact on the consolidated financial statement of the Group. Triple T Broadband Public Company Limited (“TTTBB”) Laying of Optical Fiber on poles of the Provincial Electricity Authority At present, all six remaining disputes relating to the installation of telecommunications cables on Provincial Electricity Authority (PEA) utility poles prior to obtaining the required authorization, with aggregate claims of approximately THB 188 million, have been resolved through dispute settlement negotiations. TTTBB has fully settled all related obligations in accordance with the agreed terms. 17.EVENT AFTER THE REPORTING PERIOD Interim dividend On August 6, 2026, the Board of Directors approved the declaration of an interim dividend of Baht 8.69 per share, amounting to Baht 25,846 million. The interim dividend will be paid to the shareholders on September 3, 2026. 56