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

. Notification of the Office of the Securities and Exchange Commission No. SorChor. 24/2555 Re: Approval of Appraisal Company and Lead Appraiser Contributing [Asset Evaluation] for Capital Market Transaction

and Industry Public Company Limited’s (the "Company") Board of Directors' Meeting No. 9/2017, held on October 25, 2017, (the "Meeting"), the Company would like to announce the Board of Directors

established under the law of Home Regulator’s jurisdiction ( issued by Home Regulator ) [ ] 3. Evidence on the appointment of a securities company to perform duty as local intermediary in Thailand ( issued by

established under the law of Home Regulator’s jurisdiction (issued by Home Regulator) [ ] 3. Evidence on the appointment of a securities company to perform duty as local intermediary in Thailand (issued by CIS

resource allocation by their board of directors and executives that is practical and meets the standards established by an international organization concerning capital market supervision is crucial and

related regulators, such as the SEC, the MOC and the SET and any related person or organizations. (B) Details of VAVA PACK Company Limited (“VAVA”) 1. General information on VAVA VAVA was established in

not cause any conflicts of interest or has established effective policy and measures for prevention of conflicts of interest. (Translation) -3- Clause 5. The management company shall submit to the

from the securities company that underwrites the structured notes and the issuer. The investors may study the registration statement and draft prospectus filed by the debt se with the SEC Office on the

not cause any conflicts of interest or has established effective policy and measures for prevention of conflicts of interest. Clause 5 . The management company shall submit to the Office the following