quarter of the previous year by Baht 12 Million or 6.7 percent from the decrease in advertising revenue. (Translation) Bangkok Expressway and Metro Public Company Limited Management Discussion and Analysis

. Due to the increasing of employee’s expenses & compensations, audit fee, consulting fee and advertising expenses. Including, public relationship expense for IPO’s activities on January 2019. 4

increase from the same quarter of the previous year by Baht 25 Million or 14 percent, mainly from the increase in advertising and telecommunication revenue in aligned with the increase in ridership and

creating a mobile application for indoor navigation and Bluetooth transmitter system for advertising. c) Board of Directors At present, the Board of Directors of Trans.Ad comprise of: 1. Mr. Weng Sam Lam 2

internet and CCTV, including designing and creating a mobile application for indoor navigation and Bluetooth transmitter system for advertising. c) Board of Directors At present, the Board of Directors of

increase in telecommunication and advertising revenue from the operation of the MRT Blue Line Extension Project. Cost of Commercial Development business was equal to the same quarter of the previous year at

derivatives, one-time income, etc. Selling Expenses In 2018, selling expenses was 981 million Baht, increased by 79% YoY, because of an increase of advertising expense of residential and hospitality business

Baht 16.76 Million. Resulted from the increasing of employee expenses & compensations, audit fee, consulting fee and advertising expenses. 4. Profitability Gross profit and net profit of 3rd Quarter

area in the station of the Chaloem Ratchamongkhon Line in modern trend which attracted more customers. Advertising and telecommunication revenue slightly increased from the operation of Section 2 in MRT

other expenses were 2,035 million baht, increased by 112 million baht or 6% y-y due to increase of advertising expense 55% y-y. However, the Company still maintained effective operating cost control with