(-Translation-) Ref. No. U.SET 027/2018 June 4, 2018 Subject: Acquisition of 50 percent of ordinary shares in the subsidiaries of Sansiri Public Company Limited To: The President The Stock Exchange

between the Company and Sansiri Public Company Limited (“Sansiri”), namely BTS Sansiri Holding Fifteen Limited (“BS15”), BTS Sansiri Holding Twenty Limited, BTS Sansiri Holding Twenty Four Limited and BTS

UE, which ws funded by a capital increase via issuance of preferred shares last quarter. The majority of assets acquired by EBT of UE was the BTS- Sansiri JV (Sansiri JV)  Net debt to equity ratio as

with Sansiri 31 March 2020: The Company entered into transaction to purchase and sell ordinary shares of joint ventures between the Company and Sansiri as follows; MANAGEMENT DISCUSSION & ANALYSIS 1Q

June 2018: Four additional Projects for Sansiri JV. The Company acquired 50% of the total ordinary shares in 4 subsidiaries of Sansiri Public Company Limited (Sansiri) at a total price of THB 75.5mn. As

new 20-year operating lease contract for a 607-key hotel under the newly launched R.evo brand located in Munich, Germany. 22 September 2018: Sansiri JV launches ‘THE BASE Saphanmai’ project for presales

of Prime-A’s total obligation pursuant to the promissory notes, to Sansiri Public Company Limited (“SIRI”). Thereby enabling the status of Prime-A to transform from the Company’s subsidiary to an

UE, the Company acquired a 50% stake in both the BTS-Sansiri JV and Keystone JV. Finance costs increased by 254.5% YoY or THB 149mn to THB 208mn primarily from interest expense of loans taken to

. Joint Venture with Sansiri 16 January 2019 Sansiri PCL or Sansiri, sold its ordinary shares in BTS Sansiri Holding Eighteen Co., Ltd. (a former U City and Sansiri 50:50 JV company) to Noble. The joint

related to Leases (TFRS16). Reported share of loss from associates/JVs was THB 430mn, compared with share of gain THB 284mn reported last year, comprised of (i) THB 371mn share of loss from Sansiri JV and