1 ASIA’S BOUTIQUE AIRLINE Management’s Discussion and Analysis For the period ended 30 June 2017 Bangkok Airways Public Company Limited and Its Subsidiaries 2 ASIA’S BOUTIQUE AIRLINE Bangkok Airways

the year 2016. The main cause is from the reduction of the compensation for loss of production and estimated construction cost of WTG’s foundations of Huay Bong 2&3 wind farms. Sales and administration

of Baht 125.68 million or 27.65 percent according to additional investment in solar power plant of 10.0 MW, biomass of 6.8 MW and wind power of 10.0 MW in 2016 - Hotel business that company has

1,428.84 million or 45.06% due to fair value measurement of investment in Wind Energy Holding co., Ltd and Khao Kor Wind Power co., Ltd through other comprehensive income according to TFRS9 – Financial

:55 Notification to dispose of ordinary shares in RPV Energy Company Limited (2nd Amendment) 10/08/2020 08:15 Notification of the execution of the Share Purchase Agreement in Chu Prong Gia Lai Wind

1 ASIA’S BOUTIQUE AIRLINE Management’s Discussion and Analysis For the period ended 31 December 2019 Bangkok Airways Public Company Limited and Its Subsidiaries 2 ASIA’S BOUTIQUE AIRLINE Bangkok

0.4 Return on Fixed Assets (%) 11.4 11.0 Asset Turnover (Time) 0.5 0.5 Leverage Ratio Debt to Equity (Time) 1.1 1.0 Interest Coverage Ratio (Time) 0.6 1.3 23 ASIA’S BOUTIQUE AIRLINE Glossary https

1 ASIA’S BOUTIQUE AIRLINE Management’s Discussion and Analysis For the period ended 30 June 2020 Bangkok Airways Public Company Limited and Its Subsidiaries Bangkok Airways Public Company Limited and

1 ASIA’S BOUTIQUE AIRLINE ค ำอธิบำยผลกำรด ำเนินงำนและกำรวิเครำะห์ฐำนะทำงกำรเงนิ ส ำหรับผลประกอบกำรปี 2561 สิน้สดุวนัท่ี 31 ธนัวำคม 2561 ของบริษัท กำรบินกรุงเทพ จ ำกดั (มหำชน) และบริษัทย่อย 2 ASIA’S

high at 114.02 KBD. Marketing Business was able to increase market share and maintain its 2nd position in the market. Power Plant Business realized additional profit from Solar and Wind Power Plants. As