đŁđŁđŁ I need my A1 lol .....
The normal grades without moderation is this(shown
below):

As you can see, in order to achieve A1 without moderation, it'll
require 75% marks. If for a particular year, the many students did
very well for the paper, then quite a lot of students scoring A1
and this could be due to many reasons. One of it could be the paper
is too easy, so moderation is a way to filter and accurately grade
the better students with the weaker ones.
This is what the happened after moderation. A crude but realistic
example: In order to obtain A1, you need to score at 84% of the
marks.

As you can see from the graph because the A1 bench is push up,
there will be lesser students scoring A1. This will preserve the
integrity and the quality of students from that particular
batch.
Similarly.. If the paper is too hard and very few people scored A1,
the authorities may lower the boundaries so that a reasonable
amount of student still can get A1.
Clear?