(Translation) Bangkok Expressway and Metro Public Company Limited Management Discussion and Analysis for the Quarter Ended on September 30, 2019 1 Significant events in the third quarter of the year

Differentiate (Unit: Million THB) Million THB % Million THB % Million THB % Revenue Revenues from sales of real estate 8,764.9 87.8 14,523.1 87.3 5,758.2 65.7 Revenues from project management 487.5 4.9 1,225.9

sales of real estate 5,612.6 84.3 5,826.2 85.8 213.6 3.8 Revenues from project management 603.7 9.1 422.7 6.2 (181.0) (30.0) Dividend income - - 0.3 0.0 0.3 100.0 Gain from transfer of right for land

3,689.6 91.9 8,837.2 82.6 5,147.7 139.5 Revenues from project management - - 1,037.4 9.7 1,037.4 100.0 Gain from transfer of right for land purchase and sale agreements - - 312.0 2.9 312.0 100.0 Gain on

management for every customer segment. Customers’ businesses were challenged by international protectionism that continued from the previous year, limited purchasing power at home, and a changing business

policy to ensure that KBank has effectively and practically implemented market conduct management which is in alignment with customers’ needs and purchasing power, through in-depth understanding of them

(Translation) Bangkok Expressway and Metro Public Company Limited Management Discussion and Analysis for the Quarter Ended on June 30, 2019 1 Significant events in the second quarter of the year 2019

PowerPoint Presentation MANAGEMENT DISCUSSION & ANALYSIS A f t e r Y o u P u b l i c C o m p a n y L i m i t e d Q2/2023 1 Financial Performance Management Discussion & Analysis Q2/2023 Executive

Management Discussion & Analysis 2022 1 I 9 Branches upcountry 86% Bangkok and vicinity 14% Revenue structure categorized by business groups (Unit : Million Baht) 2021 2022 Increase (Decrease) %YoY Amount

372.36 20.73 35.11 Loss from impairment of investment in associate 107.78 783.85 65.33 110.64 Management benefit expenses 18.68 135.86 24.06 40.75 Financial cost 0.69 5.02 0.41 0.69 Share of losses in