Opportunity Day 1Q-2021

24 May 2021

1

COVID-19 has been an unprecedented shock

New COVID-19 cases surge and still high in many regions

2

Source: IATA,

Economic using data

from IATA Statistics

Source: IATA,

COVID19 Update on

air cargo and air travel

markets in March,

published in May 2021

Expected herding immunity in North America and Europe in 4Q20213

Source: IATA Outlook for

the global airline industry,

April 2021 update

Source: Ourworldindata.org

Vaccine progress especially in North America and Europe

Airline & Airport

Key Statistics & Performance 1Q 2021

5

Remark: Exclude interest income that reclassified as financial income

4Q 2020 vs 4Q 2020 1Q 2020 vs 1Q 2020

Total Revenue (MB) 1,357 2,031 (33%) 6,400 (79%)

Total Expense (MB) 2,034 2,260 (10%) 6,684 (70%)

Net Profit/Loss (MB) (757) (410) (85%) (339) (123%)

Passenger Carried ('000) 152 345 (56%) 1,324 (89%)

RPK (MM Kilometers) 92 210 (56%) 932 (90%)

ASK (MM Kilometers) 156 319 (51%) 1,501 (90%)

% Load Factor 59% 66% (7ppt) 62% (3ppt)

Flight 2,464 4,631 (47%) 17,066 (86%)

No. of Route 10 10 - 37 (27)

1Q 2021Compared with

*

Tickets sold directly by BA, represented 88%

6

Channel-Of-Sales (%)

Passenger Revenue (MB)

% Proportion of Passenger Revenue by COS

2% Others

56% bangkokair.com

BSP Agents 9%

Codeshare & Interline 1%

Direct Connect 13%

38ppt

13ppt

9ppt

30%

28%3%ppt

1771 Call Center 19%

4,443

78406 6312,250

55 300 320 160

2,193

23 106 311 125

1Q2020 2Q2020 3Q2020 4Q2020 1Q2021

Samui Others

286

CLMV 875

Domestic 1,190

International 128

Plan to retire existing OL upon contract expiry.

Fuel Hedging

No hedging position due to uncertain flight plan.

Fleet & Fuel Updates

7

39

36

30

Fleet

Aircraft Type 1Q2021 Y2021E Y2022E

Airbus A320 9 9 4

Airbus A319 15 14 13

ATR72-500 2 - -

ATR72-600 13 13 13

TOTAL 39 36 30

Planned Route Network

9

Hanoi

Chiang Mai

Phuket

Lampang

Current Network

4 Domestic routes(as of May 2021)

Hanoi

Chiang Mai

Had Yai

PhuketKrabi

Lampang

Future Network Plan (Winter 2021/2022)

Tier 1: 14 Domestic & 3 International*

U-Tapao

Hong Kong

Phnom Penh

Singapore

Mae Sot

*International routes

tentatively starts operation in Winter 2021/22

Future Network Plan

subjected to COVID-19 situation & the relief

measures

Our 3 Airports

9

Samui Airport1Q2021

AVG Flights/Day: 5 (-30 Flights)

No. of Passenger: 73,485 (-87%)

Trat Airport1Q2021

AVG Flight/Day: 1 (-2 Flights)

No. of Passenger: 2,854 (-91%)

Sukhothai Airport1Q2021

AVG Flight/Day: 1 (-2 Flights)

No. of Passenger: 4,722 (-48%)

U-Tapao Airport & Eastern Airport City Project

Planned to submit Airport Master Plan in June 2021

Selected International Design Architect : SOM

New development updated

10

Cargo Terminal Buildings

Airport CityPassenger Terminal Building

MMTH

Midfield GTC

Midfield Terminal

Airport Related Services

Bangkok Air Catering

(BAC)

90% holds by BA

0.2 Mil. Meals uplifted -88%

2,153 Meals per day -88%

BFS Ground

99% holds by BA

8,467 Flights serviced -53%

IATA certified

BFS Cargo

49% holds by BA

127,256 Tonnage serviced +26%

IATA certified

1Q2021

BFS Cargo gained more demand

12

244

9 1241 2820

(54) (84) (33) (46)(1)

(75) (105) (54) (66)1Q2020 2Q2020 3Q2020 4Q2020 1Q2021

667

130248

316 280

119

(293)

105 102 96 69

(299)

76 73 69

1Q2020 2Q2020 3Q2020 4Q2020 1Q2021

486

388428

510 535

254 242 213

289 309

181 175 151212 229

1Q2020 2Q2020 3Q2020 4Q2020 1Q2021

Financial Highlights

Unit: MB

Revenue

Selected Expenses

Financial highlights 1Q2021

15

4,450

107 392 640 302

994

177286 392

356

956

760 2251,021

700

1Q2020 2Q2020 3Q2020 4Q2020 1Q2021

Others

Sales & Services

Passenger

586 581 574 563 459

773428 335 302 288

682

482294 287

207

1,112

21

87 17769

690

29

62 14163

1Q2020 2Q2020 3Q2020 4Q2020 1Q2021

Passenger Service

Fuel

AC Maintenance

Salary & Wages

Depreciation &Amortization

1,357

2,053

9031,044

6,400

Unit: MB

Seeking for government

support

Maintain liquidity

Reduce operating

lease aircraft upon contract

expiry

Adjust route network to match with

travel demands

Reduction of airport related

charges

Lease & Maintenance

Reduction Continue

Cost Saving

Measurement

in 2021

Seek for additional credit line

Postpone/cancel major CapEX

Extension of loan repayment

155 MB

2021 Return 1 aircraft

2022 Return 6 aircraft

Fleet management to

lower maintenance &

MRF

Deferral of lease

payment

Waive of Minimum

guarantee & 50% discount

rental fee

Extension of Excise Tax at 0.20

THB/Liter until 31 December 2021

Continue cost saving plan in 2021

16

Continue salary & benefit

reduction

Focus on Samui routes

Number

of flights

13,678Flights

in 2021E

ASK

915Million

ASK

In 2021E

Number

of Pax

0.90Million

In 2021E

Pax

Revenue

1,656MB

In 2021E

%Load

Factor

63%

In 2021E

Outlook 2021

17

Thank You

Information contained in our presentation is intended solely for your reference.

Such information is subject to change without notice, its accuracy is not guaranteed and it may not contain all material information concerning the company.

In addition, the information contains projections and forward-looking statements that reflect the company’s current views with respect to future events and financial

performance.

These views are based on assumptions subject to various risks. No assurance can be given that future events will occur, that projections will be achieved, or that the

company’s assumptions are correct.

Actual results may differ materially

from those projected.

Disclaimer

Contact: ir@bangkokair.com

Boutique Airline

• Lounges for all passengers

• Meals on board

• Unique network covering 25+

tourist destinations

• Remark: adjusted services in compliance to CAAT's

directive orders.

Own & Operate 3 Resort Style Airports

• Samui

• Sukhothai

• Trat

3 Airport Related Services at BKK Airport

• Catering Service

• Ramp & Ground Service

• Cargo Terminal

Strategic Investment

• 6.50% in BDMS

• 30.03% in SPF

• 9.99% in BAFS

• 7.00% in FPT (Non-Listed)

• MKT Value of Listed Securities = 23,927 MB as at 31 March 2021

Duty Free Business at

Samui Airport

U-Tapao Airport and Eastern Airport City project

Selected International Design Architect : SOM

Appendix: 4 key components to support sustainable growth

19

19

Appendix: COVID-19 concerned