1

Bangkok Expressway Plc. (BECL)

Opportunity Day at SET BECL connects Bangkok approx. 1 Million journeys daily with 70 kms distance covering city wide.

March 9, 2010 We collect tolls from 180 booths40 Toll plaza all around Bangkok.

2

Agendag• Traffic update

• The FY2009 Earnings Result

• Debenture Plan in 2010

• Q&A SessionQ&A Session

2

3

Traffic updateTraffic update

3

4

Toll Roads Network N

4

Sector C+BANG PA IN - PAKKRET

Expressway MapFirst Stage Exwy.

NonthaburiChaeng Wattana

g y

SES Urban

SES Sub-urban

Sector C+Sector C

Sector B+

Prachachuen DONMUANG

AIRPORT

Future Extension

Donmuang Tollways

Ramindra At Narong

Motorway

Sector C

Sector B+

Din Daeng

Bus TerminalMotorway

Sector ASector D

Thonburi AsokeSrinakarindra

Hua Lam Pong

SukumvitRajadamri

Royal Palace

S t B

Sector D

Sector D+PortSilomDao Kanong

Rama III

At NarongRama IVSector B

FES New Airport

Samutprakarn

BangnaRama III

Rama IX Bridge

5

Total Traffic Volume1,050.00

(Thousand cars / Day)

2010

950.00

1,000.00

2006

2007

20042005

2006

2008

2009

2010

850.00

900.00

20042005

200620082007

2009

750 00

800.00

750.00

2010 957.62 1,010.65 982.792009 916.11 961.98 983.78 873.25 904.34 969.89 930.70 957.28 974.41 977.01 944.56 988.05 952.532008 941 05 971 25 976 74 889 18 905 59 915 30 903 63 927 74 898 08 923 12 930 42 914 86 924 67

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

2008 941.05 971.25 976.74 889.18 905.59 915.30 903.63 927.74 898.08 923.12 930.42 914.86 924.672007 966.65 1,010.12 1,020.24 922.85 961.99 1,001.62 979.98 996.62 1,001.32 1,000.27 1,019.47 934.97 984.452006 923.44 947.69 978.15 868.12 914.82 935.08 907.73 949.92 946.18 959.75 1,016.20 987.84 944.582005 898.39 931.28 947.26 848.86 882.09 920.80 878.70 916.95 921.97 907.12 952.97 950.83 912.982004 862.02 904.53 909.06 835.20 863.12 885.84 900.57 872.51 903.31 895.36 939.40 941.15 892.63

6

Total Toll Revenue(Million Baht / Day)

22.00

23.002010

20.00

21.00

2009 20082006

20092010

18 00

19.00

2005

2006

2007

200420052006

20072008

16 00

17.00

18.00

2004

2005

16.00

2010 21.08 22.23 21.622009 20.11 21.08 21.57 19.20 19.83 21.24 20.41 21.00 21.34 21.39 21.79 21.68 20.882008 18 84 19 44 19 54 17 80 18 07 18 26 18 03 18 50 19 39 19 93 20 34 19 98 19 01

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

2008 18.84 19.44 19.54 17.80 18.07 18.26 18.03 18.50 19.39 19.93 20.34 19.98 19.012007 19.52 20.39 20.58 18.63 19.37 20.16 19.75 20.10 20.15 20.14 20.51 18.73 19.832006 18.58 19.09 19.67 17.48 18.40 18.83 18.29 19.11 19.03 19.44 20.49 19.92 19.032005 18.13 18.77 19.14 17.17 17.80 18.58 17.72 18.46 18.52 18.22 19.17 19.10 18.392004 17.24 18.08 18.19 16.73 17.30 17.76 18.08 17.51 18.21 18.07 18.98 18.98 17.93

7

Total Traffic VolumeTotal Traffic VolumeYoY Q4 09 Q4 08 change % YoY 2009 2008 change %

Veh./day Veh./day

YoY Q4-09 Q4-08 change %

FES 341,845 329,402 12,443 3.78%

Sector A 203,087 189,017 14,070 7.44%

YoY 2009 2008 change %

FES 335,257 331,001 4,256 1.29%

Sector A 195,782 189,206 6,576 3.48%

Sector B 94,763 87,700 7,063 8.05%

Urban 639,694 606,120 33,574 5.54%

Sector C 153 097 141 247 11 850 8 39%

Sector B 90,488 88,480 2,008 2.27%

Urban 621,528 608,688 12,840 2.11%

Sector C 145 631 137 916 7 715 5 59%Sector C 153,097 141,247 11,850 8.39%

Sector D 138,783 122,660 16,123 13.14%

Sub urban 291,880 263,907 27,973 10.60%

Sector C 145,631 137,916 7,715 5.59%

Sector D 132,978 126,376 6,602 5.22%

Sub urban 278,609 264,291 14,318 5.42%

Total BECL 931,576 870,027 61,549 7.07%

Total NECL 54,876 52,689 2,187 4.15%

Total BECL 900,139 872,979 27,160 3.11%

Total NECL 52,391 51,693 698 1.35%

Total BECL+NECL 986,452 922,716 63,736 6.91% Total BECL+NECL 952,530 924,672 27,858 3.01%

8

Total Traffic VolumeTotal Traffic VolumeYoY Feb 10 Feb 09 change % YTD 2M 10 2M 09 change %

Veh./day Veh./day

YoY Feb-10 Feb-09 change %

FES 350,196 339,255 10,941 3.23%

Sector A 208,138 197,439 10,699 5.42%

YTD 2M-10 2M-09 change %

FES 339,437 331,941 7,496 2.26%

Sector A 202,986 192,670 10,316 5.35%

Sector B 98,572 92,024 6,548 7.12%

Urban 656,906 628,718 28,188 4.48%

Sector C 155 490 146 049 9 441 6 46%

Sector B 96,121 89,602 6,519 7.28%

Urban 638,544 614,213 24,331 3.96%

Sector C 151 263 141 817 9 446 6 66%Sector C 155,490 146,049 9,441 6.46%

Sector D 144,844 134,661 10,183 7.56%

Sub urban 300,334 280,710 19,624 6.99%

Sector C 151,263 141,817 9,446 6.66%

Sector D 140,165 130,488 9,677 7.42%

Sub urban 291,429 272,305 19,124 7.02%

Total BECL 957,242 909,430 47,812 5.26%

Total NECL 53,403 52,552 851 1.62%

Total BECL 929,976 886,520 43,456 4.90%

Total NECL 52,810 51,358 1,452 2.83%

Total BECL+NECL 1,010,645 961,982 48,663 5.06% Total BECL+NECL 982,786 937,878 44,908 4.79%

9

Total Toll RevenueTotal Toll RevenueQ Q Q4 09 Q4 08 h % Y Y 2009 2008 h %

(Baht / Day) (Baht / Day)

QoQ Q4-09 Q4-08 change %

FES 7,847,685 7,547,106 300,579 3.98%

Sector A 4,485,478 4,174,608 310,870 7.45%

YoY 2009 2008 change %

FES 7,686,912 7,020,889 666,023 9.49%

Sector A 4,323,729 3,864,786 458,943 11.87%

Sector B 2,147,960 1,987,365 160,595 8.08%

Urban 14,481,123 13,709,079 772,044 5.63%

Sector B 2,050,590 1,856,941 193,649 10.43%

Urban 14,061,231 12,742,616 1,318,615 10.35%

Sector C 2,055,069 1,897,504 157,565 8.30%

Sector D 3,206,876 2,748,797 458,079 16.66%

Sub urban 5,261,945 4,646,301 615,644 13.25%

Sector C 1,954,352 1,854,546 99,806 5.38%

Sector D 3,071,881 2,838,595 233,286 8.22%

Sub urban 5,026,233 4,693,141 333,092 7.10%Sub urban 5,261,945 4,646,301 615,644 13.25%

Total BECL 19,743,068 18,355,379 1,387,689 7.56%

Total NECL 1,874,173 1,721,754 152,419 8.85%

Sub urban 5,026,233 4,693,141 333,092 7.10%

Total BECL 19,087,463 17,435,757 1,651,706 9.47%

Total NECL 1,795,474 1,570,406 225,068 14.33%Total BECL+NECL 21,617,241 20,077,133 1,540,108 7.67%

Total BECL+NECL 20,882,937 19,006,164 1,876,773 9.87%

10

Total Toll RevenueTotal Toll RevenueY Y F b 10 F b 09 h % YTD 2M 10 2M 09 h %

(Baht / Day) (Baht / Day)

YoY Feb-10 Feb-09 change %

FES 8,039,208 7,758,291 280,917 3.62%

Sector A 4,599,207 4,360,312 238,895 5.48%

YTD 2M-10 2M-09 change %

FES 7,792,639 7,590,265 202,374 2.67%

Sector A 4,484,337 4,254,077 230,260 5.41%

Sector B 2,235,694 2,085,369 150,325 7.21%

Urban 14,874,109 14,203,972 670,137 4.72%

Sector B 2,179,896 2,030,018 149,878 7.38%

Urban 14,456,872 13,874,360 582,512 4.20%

Sector C 2,084,088 1,960,320 123,768 6.31%

Sector D 3,352,944 3,111,519 241,425 7.76%

Sub urban 5,437,032 5,071,839 365,193 7.20%

Sector C 2,027,488 1,903,834 123,654 6.49%

Sector D 3,243,079 3,013,929 229,150 7.60%

Sub urban 5,270,568 4,917,763 352,805 7.17%Sub urban 5,437,032 5,071,839 365,193 7.20%

Total BECL 20,311,140 19,275,812 1,035,328 5.37%

Total NECL 1,914,652 1,800,039 114,613 6.37%

Sub urban 5,270,568 4,917,763 352,805 7.17%

Total BECL 19,727,439 18,792,123 935,316 4.98%

Total NECL 1,896,609 1,772,951 123,658 6.97%Total BECL+NECL 22,225,792 21,075,851 1,149,941 5.46%

Total BECL+NECL 21,624,048 20,565,073 1,058,975 5.15%

11

The FY2009 Earning Result Earning Result

12

Financial Highlights

Consolidated (Unit : MB.)Revenue :-

Toll RevenueInterest Received

2003

6,18410

2004

6,55010

2005

6,7159

2006

6,94416

2007*

7,23823

2008*

6,95696

2009

7,62312

Interest ReceivedOthers

Total RevenueExpense :-

S lli

2510

6,2194010

6,600109

6,7345316

7,0132823

7,289

(663)

97**96

7,149

(781)

12125**

*7,760

(889)

AdministrationOthers

EBITDA

Selling(771)

5,448

-

-(898)

5,702

-

-(897)

5,837

-

-(970)

6,030(13)

-(300)

6,073

(663)

(253)(346)

6,022

(781)

-

(889)(362)

(8)6 501

Financial Cost

Cash ProfitCorporate Income Tax

EBITDA(1,853)

3,371(224)

5,448(1,326)

4,168(208)

5,702(1,240)

3,913(684)

5,837(1,244)

4,113

(673)

6,030(1,359)

4,112(602)

6,073(1,330)

4,111(581)

6,022(1,138)

(680)

6,501

4,683

Land AcquisitionDepreciation and Amortization

Net Profit(Loss) Loss Attributable to Minority Interest

(260)(1,886)

1 2338

(2,015)(306)

1 91669

(2,065)(360)

1 488 -

(2,149)(421)

1 543 -

(2,215)(490)

1 407 -

(2,101)(566)

1 444 -

(2,329)(652)-

,

1 702

Net Profit(Loss)

EPSDPS

1,233

1.60 1.50

1,916

2.49 2.00

1,488

1.93 1.00

* Reclassified Profit and Loss Statement in accordance with the mentioned TAS no.35.

1,543

2.00 1.00

1,407

1.83 1.10

1,444

1.88 1.10

1,702

2.21 1.25****

** Gains on sale of investment in TTW amounted to Baht 38 Million (net) and Receives dividend income from

TTW amounted to Baht 55 Million.

Reclassified Profit and Loss Statement in accordance with the mentioned TAS no.35.

*** Receives dividend income from TTW amounted to Baht 114 Million.**** Subject to approval from Annual Ordinary General Meeting of the Company’s shareholders in April 2010.

13

Toll revenue are classified into routes as follows:Toll revenue are classified into routes as follows:

2008 2009 Ch

(Unit : MB.)

2008 2009 Change %YoY

First Stage Expressway System 2,569 2,807 238 9.26

Second Stage Expressway System

Sector A (Rama IX – Ratchadapisek) 1,414 1,578 164 11.60

Sector B (Phayathai – Bang Khlo)

Sector C (Ratchadapisek – Chaeng Watthana)

S t D (R IX S i i d )

680

679

1 039

749

713

1 121

69

34

82

10.15

5.01

7 89Sector D (Rama IX – Srinagarindra)

Total Second Stage Expressway System

1,039

3,812

1,121

4,161

82

349

7.89

9.16

Bang Pa-In – Pak Kret Expressway System

Total

575

6,956

655

7,623

80

667

13.91

9.59

14

Th FY2009 E i SThe FY2009 Earnings SummaryComparing with FY2008 ( Consolidated )

• Traffic Volume 952,500 veh./day ( up 3.01 %YoY)

• Toll Revenue 20 88 MB /day ( up 9 84 %YoY)Toll Revenue 20.88 MB./day ( up 9.84 %YoY)

• EBITDA 6,501 MB. ( up 7.95 %YoY)

• Financial Cost 1,138 MB. ( down 14.44 %YoY)

• Cash profit 4 683 MB ( up 13 91 %YoY)Cash profit 4,683 MB. ( up 13.91 %YoY)

• Corporate Tax 680 MB. ( up 17.04 %YoY)

• Net profit 1,702 MB. ( up 17.87 %YoY)

• EPS 2 21 Bt /shr• EPS 2.21 Bt./shr

15

K Fi i l & O ti I di tKey Financial & Operating Indicators• Avg. Traffic Volume (veh./day) FY2009 %YoY %Portion

– URBAN 621,496 2.11 65.25( FES + A + B)

– SUB-URBAN 278,613 5.42 29.25,(C + D)

– Sector C+ 52,391 1.35 5.50

T t l 952 500 3 01 100 00Total 952,500 3.01 100.00

• Avg. Toll Revenue (MB./day)

– URBAN 14.06 10.36 67.34( FES + A + B)

– SUB-URBAN 5.03 7.02 24.09(C + D)

– Sector C+ 1.79 14.01 8.57

T t l 20 88 9 84 100 00Total 20.88 9.84 100.00

16

BECL T ffi l & T llBECL : Traffic volume & Toll revenueDaily Traffic Volume Daily Toll Revenue

930928950

1000

Daily Traffic Volume( FES + SES )(Thousand cars/day)

Daily Toll Revenue( FES + SES )(Million Baht/day)

19.7319.09

18 1719.0020.00

873

930900

928

843812

891864

850

900

95017.44

18.17

16.9316.48

17.4616.50

15.63 15.8216.0017.0018.00

812

685

765

700

750

80014.53

13.91

12.2812.06

13.0014.0015.00

555

678

629604

634

685

600

650

700 12.06

9.77

9 0010.0011.0012.00

555550

1996

1998

2000

2002

2004

2006

2008

2010

(2M

)

Year

8.009.00

1996

1998

2000

2002

2004

2006

2008

010(

2M)

Year

2

Opened Sector BEconomic Crisis

20

Changed Revenue Sharing since Sep. 2, 2002

17

NECL T ffi l & T llNECL : Traffic volume & Toll revenue

1.901 791 80

2.00575354

60

Daily Traffic Volume(Thousand cars/day)

Daily Toll Revenue(Million Baht/day)

1.661.57

1.46

1 12

1.451.57

1.79

1.40

1.60

1.8052 52 535449

43

50

40455055

0 60 0 66

0.90

1.12

0.80

1.00

1.20

25

35

25303540

0.60

0.440.58

0.66

0 20

0.40

0.6016 1517

10152025

0.00

0.20

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

0(2M

)

5

1998

2000

2002

2004

2006

2008

010(

2M)

Year Year

201020

Year Year

18

EExpenses• Our expenses have changed from

• Increased expenses

Expenses %Change YoY 2008 (MB.) 2009 (MB.)( )Amortization Cost +11.10% 2,073 2,303Land Acquisition Cost +15.19% 566 652Administration Expenses +4.62% 346 362Corporate Income TaxS lli E

+17.04%13 83%

581781

680889

• Reduced expenses

Selling Expenses +13.83% 781 889

Expenses %Change YoY 2008 (MB.) 2009 (MB.)Interest Expenses -14.31% 1,265 1,084

19

E i R ltEarnings Result

Unit : Million Baht 2008 2009 Change %YoY

Toll Revenue 6 956 7 623 667 9 59Toll Revenue 6,956 7,623 667 9.59

EBITDA 6,022 6,501 479 7.95

Cash Profit 4,111 4,683 572 13.91

Net Profit 1,444 1,702 258 17.87

EPS (Bt / h ) 1 88 2 21 0 33 17 55EPS (Bt./shr) 1.88 2.21 0.33 17.55

20

A tAssets• Investment in SEAN (as of December 31, 2009 )

– Invested an additional 263 MB. in SEAN.

– Maintained 16.67% of its capital.

– Cumulative investment 952 MB.

21

A tAssets• Investment in TTW (as of December 31, 2009 )

– Unrealized loss on changes in value of investments has

decreased from end of year 2008 by 96 MB From adjustment indecreased from end of year 2008 by 96 MB. From adjustment in

its market value.

– The amount of investment in TTW is at 9.24% of its capital.

– Cumulative investment 1,137 MB.Cumulative investment 1,137 MB.

22

A tAssets• Investment in BMCL (as of December 31, 2009 )

– The amount of investment in BMCL is at 11.88% of its capital.

– Cumulative investment 1,764 MB.

23

Project Investment (as of December 2009)

Investment ProjectTTW

Thai Tap Water SupplyBMCL

Bangkok MetroSEAN

Southeast Asia EnergyNECL

Northern Expresswayj

Investment Type BTO Concession

Thai Tap Water Supply Plc

Bangkok Metro Plc

BOO water purchase

agreement

BOT power purchase

agreement

AOT Concession

Southeast Asia Energy Co.Ltd

Northern Expressway Co. Ltd

% of Possessionas of Dec. 31, 2009Concession date 1996

53.33% 16.67%(952 MB.)

9.24%(1,137 MB.)

11.88% (1,764 MB.)

201320042004

agreement agreement

Remaining year

Concession period

18 year

30 year

26 year21 year

25 year30 year25 yearUnder

Construction

R i t d C it l (MB )

BOI Privilege

Customer

6 000

8 year

Public

6 6073 99011 950

Tax Exempt from Laos PDR Government

8 year8 year

PWA EGATPublic

Update

Registed Capital (MB.)

Target completion date

Trading day on S 21 2006

6,000 6,6073,99011,9505,160 11,950 3,990 5,709

Toll Hikes in N 2008

Paid-up Capital (MB.)

Trading day on M 21 2006

p completion date in year 2010Sep. 21, 2006

BTO = Build-Transfer-Operate, AOT = Acquired-Transfer-Operate, BOO = Build-Owned-Operate, BOT = Build-Operate-Transfer

Nov. 2008 May 21, 2006

24

Debt • Interest bearing debt (Million Baht) as at December 31, 2009g ( ) ,

1. Loan outstanding (FY2009) 13,383

– Loan repayment (3,197)

P t (2 101) 8 085– Prepayment (2,101) 8,085

2. Debenture C/F 15,500

3. B/E C/F -

– C/F outstanding Debt 23,585

• Average funding cost as of January 29, 2010 = 4.3067%comparing with average MLR = 5.9563%p g g

• Debt to equity ratio = 1.43 times• Debt service coverage ratio = 1.83 times

DSCR = EBITDA / (Int. exp. + Debt repayment)( y )

• On 2 August 2007, the company has issued debenture 7.5 Billion Baht to refinance existing debt.

• On 7 November 2008, the company has issued debenture 4.0 Billion BahtOn 7 November 2008, the company has issued debenture 4.0 Billion Baht to refinance existing debt.

• On 11 September 2009, the company has issued debenture 2.0 Billion Baht t fi i ti d btto refinance existing debt.

• On 28 December 2009, the company has issued debenture 2.0 Billion Baht to refinance existing debt.

25

C h Fl All ti5 000

Cash Flows AllocationsUnit : Million Baht

4 844

1 925

7704,000

4,500

5,000

40%

4,844

4,2834,616

17%3 716

3,946

770

1,925

578

1,155

770847

3,000

3,500

24%18%

3,144 3,25027%

3,716

21%

21%3,149

28%

1 812

2,193

8862,580

2 833

578

2,000

2,500

53%

24%

64%

18%

58%

51%

56%

72% 72%

28%

1 266

1,8122,091

2,579 2,663

2,000

2,833

1,000

1,50053%64%

22%

64%

389

1,266

263

935340

7542830

500

2002 2003 2004 2005 2006 2007 2008 2009

266

22%27%

*

24% 12% 7% 7% 7% 8%

Investment Repayment Dividend*Please note that the dividends shown here are based on payment date

26

E itEquity• Total equity (Million Baht)

– B/F Equity 16,127

– Dividend Paid (886)

– Adjusted investment value 639

– Profit of FY2009 1,702

– C/F Equity 17,582( as at December 31, 2009 )

P id i l 7 700 MB• Paid-up capital = 7,700 MB.

• Registered capital = 8,000 MB.

• Par value = 10.00 Bt./shr.

• Book value (as at December 31, 2009) = 22.83 Bt./shr.

27

Fi i l R tiFinancial Ratios

2008 2009

• % NET PROFIT MARGIN 20.20 21.94

• % ROA 3.30 3.96

• % ROE 8.98 10.10

• D/E RATIO (times) 1.69 1.43

• Interest Coverage (times) 4.26 5.35

• DSCR RATIO (times) 1.68 1.83

28

Debt Movement in Y2009Debt Movement in Y2009.

1. Loan Repayment - Loan T#1 (4,908)- Loan T#2 (140)- Loan T#3 (250) (5,298)

2. Debenture Issued - 1/2009 4.0Yr (4.25%) 1,000- 2/2009 3.5Yr (4.10%) 1,000- 3/2009 5.5Yr (MLR-3%) 2,000 4,000

Net Debt Repayment 1,298

Debt StructureOutstanding

End of F b’10

Interest Charged (%)% 2007 2008 2009 2010 2011 2012 2013 2014 2015

29

Feb’10 % 2007 2008 2009 2010 2011 2012 2013 2014 2015

Loan T #1 7,509 32.05% 5 5M4*-2 M4*-2 M4*-2 M4*-2 M4*-2 M4*-2 M4*-2 M4*-2

Loan T #2 224 0.96% 3.255 5 5

M4* 2 M4*-2 M4*-2 M4*-2 M4*-2 M4*-2 M4*-2Rat

e

5 M4 -2

Loan T #3 199 0.85% M5-1.5 M5-1.5M5-1 M5-1 M5-1

M5-0.5M5-0.5

M5 M5 - - -

Debenture ’09 5 5Yr #4 2,000 8.54% - - M4**-3 M4**-3 M4**-3 M4**-3 M4**-3 M4**-3 M4**-3Fl

oatin

g

5.5Yr #4

Total 9,932 42.39% Average cost of Floating Rate as of February’10 = 3.7560%Debenture

2007: 3Yr #1 3 905 16 67% -4 20 4 20 4 202007: 3Yr #1 3,905 16.67%

4.20 4.20 4.20 4.20 - - - - -

5Yr #1 1,895 8.09% - 4.88 4.88 4.88 4.88 4.88 4.88 - - -

7Yr #1 1,700 7.26% - 5 20 5.20 5.20 5.20 5.20 5.20 5.20 5.20 -R

ate

5.20

2008: 3Yr #2 2,900 12.38% - 5.20 5.20 5.20 5.20 - - - -

5Yr #2 1,100 4.69% - 5.20 5.20 5.205.65 5.65 5.65

6.00 6.00 --Fi

xed

R

2009: 3.5Yr #3 1,000 4.27% - - 4.10 4.10 4.10 4.10 4.10 - -

4 Yr #3 1,000 4.27% - - 4.25 4.25 4.25 4.25 4.25 --

Total 13 500 57 61% Average cost of Fixed Rate as of February’10 = 4 7140%Total 13,500 57.61% Average cost of Fixed Rate as of February’10 = 4.7140%Grand Total 23,432 100% Average cost of Debts as of February’10 = 4.3079%Where ; *M 4 = Average MLR of KTB+BBL+SCB+TMB = 5.9563%

M 5 = Average MLR of KTB+BBL+SCB+TMB+SCIB = 6.0150% ** M 4 = Average MLR of KTB+BBL+SCB+KBANK = 5.8563%

(As of March 1, 2010 )

30

Debt Repayment Schedule

YearRepayment Schedule (MB.)

Loan Debenture Total

2010 980 3,905 * #1 4,885

2011 1,000 2,900** #2 3,900

2012 1,194 1,895 * #1 3,089

2013 1,996 1,100** #2 5,096

1,000*** #3

1,000*** #3

2014 1,396 1,700 * #1 3,096

2015 1,519 2,000**** #4 3,519

Total 8,085 15,500 23,585

#1 : * Due date will be settle on Aug 2 , 2010 , Aug 2 , 2012 and Aug 2 , 2014

#2 : ** Due date will be settle on Nov 7, 2011 and Nov 7, 2013#3 : *** Due date will be settle on Mar 15, 2013 and Sep 11, 2013#4 : **** Due date will be settle on May 30, 2015

31

EBITDA vs Major PaymentsEBITDA vs Major Payments• Existing loan repayments have been rearranged for new debenture issuance.• Historical EBITDA showed stable performance whilst BECL’s major payments

fi d di t th h d lare fixed according to the schedule.

8,000 8,000

THB million THB million

5,0006,0007,000,

5,0006,0007,000,

EBITDA

1 0002,0003,0004,000

1 0002,0003,0004,000

-1,000

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

-1,000

Compensation for site acquisition Existing loan repaymentNew debenture Dividend paymentEBITDA

32

D b t Pl i 2010*Debenture Plan in 2010*

Debenture Period Facilities Interest Rate Purpose Timing

1/2010 3Y3M 1 000 Floating Rate Refinance March 3 20101/2010 3Y3M 1,000 Floating Rate Refinance March 3, 20102/2010 3Y2M 1,000 Floating Rate Refinance very soon3/2010 7Y 1,500 Floating Rate Roll over very soon3/2010 7Y 1,500 Floating Rate Roll over very soon

Total 3,500

* Not yet applicable with slide number 29 - 31

33

Thank you for your inquiryThank you for your inquiry

For further inquiries

Email : ir@becl.co.th@