(Translation) Bangkok Expressway and Metro Public Company Limited Management Discussion and Analysis for the Quarter Ended on June 30, 2018 1 Significant events 1. On March 30, 2018, Bangkok

(Translation) NEP-AC 003/2561 8 November 2018 Subject : Management Discussion and Analysis for 3rd Quarter ended 30 September 2018 To : The President The Stock Exchange of Thailand Operating Result

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equivalent to 60.9% of total sales, lower than Q2’2016, which had total cost of sales 62.7% of total sales due to efficient cost management and higher cost efficiency from better utilization of production

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สรุปผลการดำเนินงานของบจ -Translation- August 15th, 2017 Subject: Management Discussion and Analysis Quarter 3 Ending 30 Jun 2017 (Edited Template) To: Managing Director The Stock Exchange of Thailand

percent compared to year 2015, due to decrease of salary, employment benefit, doubtful accounts, fees and other administrative expenses which are in line with the Company’s organizational management as

increase of salary, employment benefit, doubtful accounts, fees and other administrative expenses which are in line with the Company’s organizational management as aforementioned details. 5. Finance Costs

1 Translation CEN 025-2017 November 13, 2017 Subject : Management Discussion and Analysis for business operation of quarter 3/2017 To The Manager and President The Stock Exchange of Thailand For 3