(Translation) Bangkok Expressway and Metro Public Company Limited Management Discussion and Analysis for the Quarter Ended on March 31, 2019 1 Significant events 1. The Extraordinary General Meeting

service for operation of Expressway business consisted of costs of toll, amortization on rights to operate completed expressway sectors and compensation for site acquisition cost. For the first quarter of

) operating results based on its reviewed consolidated financial statements ended 31 June 2017 as follows. Highlights on Q2-2017 Operating results Unit : Million Baht Q2-17 Q2-16 Q1-17 % Change Amount % Amount

market players. However, as more capacity returns price pressure will impact on certain segments of the market. An increase in volumes due to the addition of the Hua Pha Way new production site of Golden

management in which to increase gain on exchange rate amount THB 2.2 MB comparing to the same period of last year total in other income amounted THB 29.9 MB and THB 27.7 MB in year 2018 and 2017 respectively

which were 43.2% and 46.6% of the total assets in which the increase by land and equipment net THB 34.6 MB is from buying and transferring assets THB 40.9 MB and depreciation on useful life of asset in

K10) and access to a new customer base. While the effect of the acquisition on the financial results in the first quarter is negative ( 5mTHB one-shot acquisition Golden Lime Public Company Limited 3

THB 266.0 MB is from buying and transferring assets THB 285.3 MB and depreciation on useful life of asset in which increase for THB 19.3 MB. ZIGA INNOVATION PUBLIC COMPANY LIMITED 999/9,10,11 MOO 9

malls (i.e. common areas, convention halls, on-site-media, and promotional areas) by continuously rolling out a variety of marketing events in all projects. Continual effective cost management The lower

project, with an installed capacity of 4.8 MW has 6.8% construction progress which is on process of construction site preparation. The project has the scheduled COD by December 2019. B.GRIMM POWER PUBLIC