25.51 Net Profit Margin (%) 2.35 3.18 3.55 Current Ratio (Times) 1.43 1.51 1.28 Debt to Equity Ratio (Times) 1.81 1.48 1.76 Book Value per Share (Baht) 2.25 2.39 2.39 Net Profit per Share (Baht) 0.43 0.57

25.57 Net Profit Margin (%) 2.40 2.35 3.16 Current Ratio (Times) 1.43 1.43 1.40 Debt to Equity Ratio (Times) 1.79 1.81 1.89 Book Value per Share (Baht) 2.22 2.25 2.25 Net Profit per Share (Baht) 0.45 0.43

Central Retail Corporation Public Company Limited Page 1 20 February 2020 Re: Management Discussion and Analysis Operating results for the three-month and nine-month period ended September 30, 2019

* (%) 75.8% 62.9% Debt to equity (times) 1.0 0.8 Assets turnover* (times) 0.5 0.4 Remark: financial ratios were calculated based on The Stock Exchange of Thailand’s formula. *The Company didn’t restate the

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

securities and derivatives business operators of all types, as follows: - broker, dealer and underwriter of investment units - broker of debt securities - dealer of debt securities - underwriter of debt

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

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

1 ASIA’S BOUTIQUE AIRLINE Management’s Discussion and Analysis For the period ended 30 June 2020 Bangkok Airways Public Company Limited and Its Subsidiaries Bangkok Airways Public Company Limited and

Aug 14, 2018 Subject Management Discussion and Analysis for the six months period ended June 30, 2018 To The President The Stock Exchange of Thailand Do Day Dream Public Company Limited (the “Company