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

expected credit losses by 57.8%. For the 9-month period of 2020, the operating results of the company and its subsidiaries, showed the net profit of Baht 1,852.7 million, decreased by 20.6% when compared to

or 865.5 %, compared to the same period of the last year. KEY HIGHLIGHTS • Total revenue increased by 152.5%, mainly from increase in revenue from sale of real estate and increase in revenue from sale

quarter ending March 31, 2019 as follows. The net profit of the Corporate Group for the 1st quarter 2019 was Baht 211.93 million. In comparison with the same period of previous year with the net profit of

Results Statements of Comprehensive Income – Consolidated (Million Baht) For 3-month period ended June 30, Increase (Decrease) % For 6-month period ended June 30, Increase (Decrease) % 2019 2018 2019 2018

- Translation - Page 1 of 7 CBG 019/2018 11 May 2018 Subject Management discussions and analysis for the 3-month period ending 31 March 2018 To President The Stock Exchange of Thailand We, Carabao

months ended 31st December 2019 of the Company and its subsidiaries as details below: (Unit: Baht millions) 1. Operating Performance For the period of three months ended 31st Dec 2019, the net profit for

) Year Status Type Period As Of Audit Financial Statement MD&A Financial Statement Revise 2022 Reviewed Company Q3 31/12/2021       2022 Reviewed   Q3 31/12/2021       2022 Reviewed Company Q2 30/09/2021

Status Type Period As Of Audit Financial Statement MD&A Financial Statement Revise 2021 Reviewed Company Q2 30/06/2021 Unqualified opinion     2021 Reviewed Company Q1 31/03/2021 Unqualified opinion

) Year Status Type Period As Of Audit Financial Statement MD&A Financial Statement Revise 2021   Company Year 31/12/2021       2021 Reviewed Company Q3 30/09/2021       2021 Reviewed Company Q2 30/06/2021