shareholder of the Company, holding shares in the proportion of approximately 13.61 percent of the total number of sold shares of the Company (after the registration of the increase of paid-up capital of the

market and an investment in assets in order to received privileges under investment promotion schemes granted expenditure reduction around 1.5 times. The installation of kiosk takes approximately 4-6

% respectively. Thus approximately 94% of the Net profit was derived from Aviation refueling services business and around 6% was derived from Fuel pipeline transportation business. 2. Report and Analysis of

enhancements benefitting both the top and bottom line as we expect 2020 to be a more successful year” 2. Outlook Economic growth was approximately 1.6% in Q4 2019 compared to the same period last year with

service business approximately 98 Million Baht and purchase of tools and equipment for construction service and testing and inspection service business amounting of 99.76 Million Baht to support the

) for the period of approximately 18 months. (Translation) Bangkok Expressway and Metro Public Company Limited Management Discussion and Analysis for the Quarter Ended on June 30, 2017 2 Overview

the main cost of sales of the Group. The Group also adjusted selling price since May this year, which causes gross profit margin to increase approximately 0.89% for the three-month period and 0.48% for

decreased by approximately 18.68 percent because the Company had sold lots of projects during the six-month period of 2016 more than during the six-month period of 2015. The gross profit margin from the sale

decreased by approximately 0.75 percent because the Company had sold lots of projects during the nine-month period of 2016 less than during the nine-month period of 2015. The gross profit margin from the

Rat-Outer Ring Road Expressway and Si Rat Expressway (heading to Chaeng Watthana) for the period of approximately 18 months. (Translation) Bangkok Expressway and Metro Public Company Limited Management