(Translation) Bangkok Expressway and Metro Public Company Limited Management Discussion and Analysis for the Quarter Ended on June 30, 2020 1 Significant events in the second quarter of the year 2020

change the shareholder structure by HECH will hold the GS’s share 692,439 shares within quarter 2 year 2018 before an investment of the Company Financial Statement of GS 2016 2015 2014 Cash and deposits at

term. In addition to achieving revenue growth, the company-wide cost optimization is ongoing and translated into EBITDA expansion of +9% YoY and +2.4% QoQ to stand at Bt18,905mn, a reported margin of

1 ASIA’S BOUTIQUE AIRLINE Management’s Discussion and Analysis For the period ended 30 September 2019 Bangkok Airways Public Company Limited and Its Subsidiaries 2 ASIA’S BOUTIQUE AIRLINE Bangkok

goals as expressed in the United Nations Sustainable Development Goals and the Paris Agreement on Climate Change. In addition, the Corporate Governance Committee approved the 2020 sustainable development

ent of the tot d and structu ant land, total Resolutions Calling the Ex ger e of Thailand randum on th f Assets for B c Company , on 19 Dec ution on a dis he potential i in pursuing s expertise, a at

(“the Company”) and its Subsidiary (“the Group”) would like to clarify the change in operating result for the year ended 31 December 2018, which net profit has changed more than 20% from the last year as

(“the Company”) and its Subsidiary (“the Group”) would like to clarify the change in operating result for the first quarter ended 31 March 2019, which changed in revenue and net profit compared with the

investment by country and instruments / and compliance with the law and the rules and regulations. Information on the supervision of ThaiBMA: Directors, executives of the company, and the contact persons of

Microsoft Word - MD&A Y2017 - ENG.doc 1 ASIA’S BOUTIQUE AIRLINE Management’s Discussion and Analysis For the period ended 31 December 2017 Bangkok Airways Public Company Limited and Its Subsidiaries