Bangkok Expressway and Metro Public Company Limited (BEM)ANALYST MEETING Q1/2021

Average Traffic Volume

2

(Thousand trips/Day)

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Avg. % YOY

2021 799.5 1,001.3 1,115.5 972.6 -13.40%

2020 1,216.9 1,201.7 955.8 589.8 804.9 1,018.2 1,121.3 1,131.7 1,153.2 1,130.6 1,158.8 1,107.1 1,049.9 -15.14%

2019 1,239.6 1,255.6 1,288.1 1,183.0 1,218.3 1,244.7 1,223.3 1,260.2 1,238.3 1,235.5 1,257.8 1,203.4 1,237.2 0.58%

21/20 -34.30% -16.68% 16.71% -13.40%

20/19 -1.83% -4.29% -25.80% -50.14% -33.93% -18.20% -8.34% -10.20% -6.87% -8.49% -7.87% -8.00% -15.14%

2021

2020

2019

350

600

850

1,100

1,350

1,600

%YO

Y

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Avg. %YOY

2021 17.33 21.85 24.46 21.23 -16.12%

2020 27.81 27.42 20.84 12.62 17.48 22.29 24.62 24.93 25.49 25.01 25.60 24.40 23.23 -17.71%

2019 28.17 28.53 29.34 26.96 27.73 28.42 27.94 28.84 28.28 28.23 28.74 27.54 28.23 1.29%

21/20 -37.68% -20.31% 17.37% -16.12%

20/19 -1.28% -3.89% -28.97% -53.19% -36.96% -21.57% -11.88% -13.56% -9.87% -11.41% -10.93% -11.40% -17.71%

20212020

2019

7

13

19

25

31

37

Average Toll Revenue

(Million Baht/Day)

3

%YO

Y

Average Daily Ridership

(Thousand trips/Day)

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Avg. % YOY

2021 151.2 217.6 272.6 213.7 -35.45%

2020 397.4 363.9 234.0 78.5 118.8 202.7 253.4 288.1 310.3 299.9 311.8 269.1 260.5 -22.67%

2019 316.9 321.7 330.5 296.6 302.1 311.7 316.7 338.5 351.5 375.4 412.8 365.9 336.8 8.12%

21/20 -61.95% -40.19% 16.51% -35.45%

20/19 25.43% 13.11% -29.20% -73.54% -60.67% -34.98% -20.00% -14.89% -11.71% -20.10% -24.47% -26.45% -22.67%

0

100

200

300

400

500

2019

2020

2021

%Y

OY

4

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Avg. % YOY

2021 4.24 6.10 7.45 5.93 -32.98%

2020 10.62 9.68 6.28 2.19 3.31 5.62 7.00 7.95 8.59 8.37 8.67 7.43 7.14 -17.69%

2019 8.04 8.15 8.35 7.52 7.65 7.87 8.02 8.58 8.97 9.99 11.12 9.77 8.67 9.97%

21/20 -60.05% -36.93% 18.58% -32.98%

20/19 32.17% 18.74% -24.77% -70.82% -56.71% -28.62% -12.70% -7.38% -4.14% -16.19% -22.02% -24.01% -17.69%

0

3

6

9

12

15

Average Daily Revenue

(Million Baht/Day)%

YO

Y

2019

20202021

5

Financial Highlights

Consolidated (Unit : MB.) Q1/2021 Q1/2020 %CHANGE

Revenue :-

Expressway Business 1,873 2,300 -18.57%

Rail Business 1,023 1,293 -20.88%

Commercial Development 215 204 5.39%

Others 74 92 -19.57%

Total Revenue 3,185 3,889 -18.10%

Expense :-

Costs of Expressway Business (420) (448) -6.25%

Costs of Rail Business (1,207) (1,134) 6.44%

Costs of commercial development (54) (53) 1.89%

Amortization – Expressway (194) (761) -74.51%

Amortization – Rail (81) (99) -18.18%

Selling and Administration (315) (305) 3.28%

EBIT 914 1,089 -16.07%

Financial Cost (532) (455) 16.92%

Income tax (76) (123) -38.21%

Profit for the Period 306 511 -40.12%

Profit/(Loss) Attributable to Non-controlling interests (1) (3) -66.67%

Profit Attributable to Equity Holders of the Company 305 508 -39.96%

Earnings per Share 0.02 0.03

Net Profit Margin 9.77% 13.33%

Return on Equity 4.93% 7.60%

Book Value per Share 2.52 2.38

6

Financial Highlights & Earnings Outlook

CORE REVENUE STRUCTURE

Road : 60% Rail : 33%

Commercial Development : 7%

2017 2018 2019 2020 3M/2021

Road

Rail

CD

Other

TOTAL REVENUE

3,123

2,051

5,317* 5,435**

305

2017 2018 2019 2020 3M/2021

15,393

19,08820,404

14,323

NET PROFIT

DPS / EPS

0.13 0.15 0.150.10

0.20

0.35 0.36*

0.13**

0.02

2017 2018 2019 2020 3M/2021

DPS

EPS

1.38 1.34

1.37

1.50 1.49

2017 2018 2019 2020 3M/2021

NET IBD/E

As of 3M/2021

Unit: MB Unit: MB

Unit : TimesUnit: THB

Remark : * Including non - cash extra item from reclassified the investment in CKP

** Including non - cash extra item from reclassified the investment in TTW 7

3,185

TRAFFIC : COVID – 19 Effect

500

600

700

800

900

1,000

1,100

1,200

1,300

20192018

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Avg. %YoY

2021 799.49 1,001.28 1,115.48 837.86 937.80 -5.19%

2020 1,216.97 1,201.74 955.75 589.86 804.89 1,018.25 1,121.21 1,131.69 1,153.23 1,130.57 1,158.83 1,107.13 1,049.10 -15.21%

2019 1,239.85 1,255.73 1,288.11 1,183.02 1,218.34 1,244.63 1,223.34 1,260.20 1,238.35 1,235.54 1,257.85 1,203.37 1,237.26 0.58%

2018 1,206.51 1,266.04 1,269.04 1,154.27 1,213.29 1,242.35 1,205.30 1,251.22 1,227.88 1,220.11 1,283.91 1,224.67 1,230.13 1.33%

%YoY 21/20 -34.30% -16.68% 16.71% 42.04%

(Thousand trips/Day)

2020

2021

22 Jan 2020 : Found the first infected in Thailand

3 Apr 2020 : Announced the nation-wide curfew

3 May 2020 : Relaxing lockdown measure phase 1

17 Dec 2020 : Found the new infected in Samut Sakhon

6 Apr 2021 : 3rd Wave of COVID-19 Infections

8

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Avg. %YoY

2021 151.24 217.62 272.60 146.87 196.99 -26.40%

2020 397.44 363.88 233.98 78.49 118.80 202.68 253.37 288.11 310.33 299.93 311.75 269.09 260.47 -22.65%

2019 316.85 321.70 330.49 296.64 302.09 311.72 316.72 338.51 351.51 375.36 412.75 365.88 336.85 8.12%

2018 299.02 323.54 315.35 277.99 294.90 316.44 301.13 331.00 325.33 321.09 342.81 291.54 311.54 5.50%

%YoY 21/20 -61.95% -40.19% 16.51% 87.21%

RIDERSHIP : COVID – 19 Effect

2019

2018

(Thousand trips/Day)

2020

2021

50

100

150

200

250

300

350

400

22 Jan 2020 : Found the first infected in Thailand

3 Apr 2020 : Announced the nation-wide curfew

3 May 2020 : Relaxing lockdown measure phase 1

17 Dec 2020 : Found the new infected in Samut Sakhon

15 – 24 Nov 2019 :Annual Red Cross Fair

6 Apr 2021 : 3rd Wave of COVID-19 Infections

9

Multiline Pass / BL Pass /PL Pass

10

Blue Line Pass

Trips Fares Avg. per Trip

15 450 30

25 700 28

40 1,040 26

50 1,250 25

Start Date : 1 March 2021

Multiline Pass

Trips Fares Avg. per Trip

15 810 54

25 1,300 52

40 2,000 50

50 2,250 45

Start Date : 1 Mach 2021

Purple Line Pass

Trips Fares Avg. per Trip

15 450 30

25 700 28

40 1,040 26

50 1,100 22

60 1,200 20

Start Date : 1 Feb 2021

Sustainability Bond 1/2021

11

Bond Type Sustainability Bond

Distribution Institutional Investors and High Net Worth Investor

Issue Date 28 April 2021

Credit Rating A- Stable

Issue Size 6,000 MB

Tenor 3 – 10 Yrs (4 series)

Coupon 1.56% - 3.33%

Lead Underwriters Bank of Ayudhya Public Company Limited and Government Savings Bank

Use of proceeds Refinance and Investment of MRT Blue Line Project

12

Q & A

13

IR SURVEY

TH EN

DisclaimerThe information in this presentation has been prepared by Bangkok Expressway and Metro Public Company Limited (BEM) and is general background information about BEM’s activities current as at date of this presentation. This presentation is not intended to provide the basis of any investment decision, nor to substitute your own analysis and investigation and should not be considered as a recommendation to any recipient of this presentation. Before acting on any information you should considerthe appropriateness of the information having regard to these matters, any relevant offer document and in particular, youshould seek independent financial advice. All securities or instrument transactions involve risks and uncertainties which maycause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Nothing in this presentation is, or should be relied on as a promise or representation of BEM as to the future.

Thank youFor further inquiry

www.bemplc.co.th

Email : ir@bemplc.co.th

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