2Q 2020/21 BTS GROUP EARNINGS PRESENTATION

2Q 2020/21 BTS GROUP EARNINGS PRESENTATION SET OPPORTUNITY DAY

15 December 2020

Prepared by BTS Group IR

Disclaimer

2

Investment involves risk. Prospective should understand the characteristics of Securities and study information about BTS Group Holdings Public Company Limited (the “Company”) before making a decision to invest in Securities. This presentation is for information purposes only and is intended only for the initial direct attendee of the presentation. It may not be reproduced or redistributed to any other person. It shall not and does not constitute either an offer to purchase or buy or a solicitation to purchase or buy or an offer to sell or exchange or a solicitation to sell or exchange any securities of BTS Group Holdings PCL (the "Company") or any of its subsidiaries in the United States of America or in any other jurisdiction or an inducement to enter into investment activity. No part of this presentation, nor the fact of its existence, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. This presentation is not to be relied upon in any manner as legal, tax or any other advice and shall not be used in substitution for the exercise of independent judgment and each person made aware of the information set-forth hereof shall be responsible for conducting its own investigation and analysis of the information contained herein. Except where otherwise indicated, the information provided in this presentation is based on matters as they exist as of the date stated or, if no date is stated, as of the date of preparation and not as of any future date, and the information and opinions contained herein are subject to change without notice. None of the Company nor any of its subsidiaries accepts any obligation to update or otherwise revise any such information to reflect information that subsequently becomes available or circumstances existing or changes occurring after the date hereof. None of the Company or any of its subsidiaries or any of their respective directors, officers, employees or agents shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with the presentation and any and all such liability is expressly disclaimed. The information contained herein must be kept strictly confidential and may not be reproduced or redistributed in any format without the express written approval of the Company. Some statements made in this presentation are forward-looking statements, which are subject to various risks and uncertainties. These include statements with respect to the Company’s corporate plans, strategies and beliefs and other statement that are not historical facts. These statement can be identified by the use of forward-looking terminology such as “may”, “will”, “expect” , “intend”, “estimate”, “continue”, “plan” or other similar words. The statements are based on the assumptions and beliefs of the Company’s management in light of the information currently available to the Company. These assumptions involve risks and uncertainties which may cause 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 promise or representation of the Company as to the future.

BTS Group Earnings Presentation


BTS Group Update Sustainability ‘s achievements

BTS Group Earnings Presentation 3

BTS Group is the DJSI global industry leader

in the Transportation and Transportation Infrastructure sector

(TRA) in 2020

The Company is included in the Thailand Sustainability Investment

(THSI) list 2020 for two consecutive years

1


Agenda

BTS Group Earnings Presentation 4

2Q 2020/21 FINANCIAL PERFORMANCE SECTION 1

BUSINESS UPDATES SECTION 2

APPENDICES SECTION 3


2Q 2020/21 Overview

5

89% Mass Transit

Operating Revenue Comparison (YoY)

INCOME STATEMENT (THB mn) 2Q 2020/21 2Q 2019/20 %YoY 1Q 2020/21 %QoQ 1H 2020/21 1H 2019/20 %YoY Operating revenue1 8,910 10,739 (17)% 9,725 (8)% 18,635 19,161 (3)% Total revenue 10,055 11,237 (11)% 10,770 (7)% 20,787 19,999 4% Gross operating profit 1,510 1,751 (14)% 1,384 9% 2,894 3,246 (11)% Recurring EBITDA2 2,012 2,450 (18)% 1,520 32% 3,532 4,631 (24)% Recurring net profit – after MI 751 1,132 (34)% 461 63% 1,212 2,137 (43)% Net income (loss)3 765 1,278 (40)% 443 73% 1,208 2,171 (44)%

Gross operating profit margin (%) 17.0% 16.3% 14.2% 15.5% 16.9%

Recurring EBITDA margin (%) 22.6% 22.8% 15.6% 19.0% 24.2%

Recurring net profit margin – after MI(%) 7.7% 9.4% 4.5% 6.1% 9.9%

P&L Snapshot

2Q 2020/21 Operating Revenue Breakdown

1 Operating revenue from the operational performance of 4 BUs excludes interest income, dividend income and non-recurring items. 2 Recurring EBITDA calculated from the operational performance of 4 BUs, interest income, dividend income, other income, net share of profit /(loss) from associates/ JV, yet, excludes other non-recurring items 3 to equity holders of the parent

8% Media

1% Property

2% Services

2Q 19/20 Mass Transit Media Property Services 2Q 20/21

10,739

THB mn

(566) (55) (358) 8,910 (310)

(7)% (56)% (55)% (60)%

BTS Group Earnings Presentation Section 1: 2Q 2020/21 Financial Performance


7.5 6.7 5.3

7.6 6.4

0.9 0.9

1.1

1.2 1.3

0.1 0.2

0.1

0.2 0.2

2Q 19/20 3Q 19/20 4Q 19/20 1Q 20/21 2Q 20/21

Development of new lines

O&M revenue

Others

6

Mass Transit

Historical Operating Revenue (THB mn)

Operating Performance

(THB mn) 2Q 2020/21 2Q 2019/20 %YoY 1Q 2020/21 %QoQ 1H 2020/21 1H 2019/20 %YoY

Operating Revenue 7,946 8,512 (7)% 8,929 (11)% 16,875 15,056 12% Costs of revenue 6,739 7,596 (11)% 7,672 (12)% 14,410 13,498 7% Gross profit 1,207 915 32% 1,257 (4)% 2,464 1,557 58% Mass Transit interest income 660 355 86% 598 10% 1,259 794 59% Share of profit from BTSGIF 108 265 (59)% (24) N.A. 84 490 (83)% Recurring EBITDA 1,950 1,646 19% 1,815 8% 3,765 2,901 30%

Gross margin (%) 15.2% 10.8% 14.1% 14.6% 10.3% Recurring EBITDA margin (%) 24.5% 19.3% 20.3% 22.3% 19.3%

*Comprise of (i) Services revenue from provision of E&M works and train procurement for Gold Line and (ii) Farebox revenue from BRT

• Total Mass Transit revenue of THB 7.9bn, a decrease of 7% YoY from

services revenue from provision of E&M works & train procurement for

Northern Green Line ext. of THB 2.3bn YoY to THB 0.8bn, offset with

construction revenue for Pink & Yellow Lines of THB 1.2bn YoY to THB 5.6bn

O&M revenue of THB 434mn YoY to THB 1.3bn, chiefly as a result of the

partial opening of the Northern Green Line ext.

• Share of profit from BTSGIF of THB 108mn

3%

16%

81%


IR Quarterly Presentation 4Q 1213_Draft1.xlsx


1,010 1,204

568 265 479

597 632

361

176 231

2Q 19/20 3Q 19/20 4Q 19/20 1Q 20/21 2Q 20/21

Digital Services Business

OOH Media

7

Media

* Digital services revenue includes revenue generating from (i) Rabbit Group, (ii) VGI Digital Lab and (iii) Trans.Ad Group under MACO

** OOH Media includes Transit, Outdoor and Office Building and Other Media




Operating Revenue 710 1,607 (56)% 441 61% 1,151 2,970 (61)%

Costs of revenue 382 792 52% 296 (29)% 679 1,313 (48)%

Gross profit 328 816 (60)% 145 126% 472 1,657 (72)%

Recurring EBITDA 145 649 (78)% 1 18,282% 146 1,361 (89)%

Gross margin (%) 46.1% 50.7% 32.9% 41.0% 55.8% Recurring EBITDA margin (%) 20.4% 40.4% 0.2% 12.7% 45.8%

• Media revenue of THB 710mn, decreasing 56% YoY mainly due to an impact

from COVID-19 pandemic and the deconsolidation of MACO

Digital Services revenue* rose 31% QoQ but dropping by 61% YoY to

THB 231mn

OOH Media revenue** increased 81% QoQ but declining by 53% YoY

33%

67%

1 Note that 2Q & 1H 2019/20 operating performances from Media business included contribution of MACO and its subsidiaries for the period from July to September 2019 and April to September 2020, respectively




100 113

88

35 45

2Q 19/20 3Q 19/20 4Q 19/20 1Q 20/21 2Q 20/21

8

Property




Operating Revenue 45 200 (55)% 35 27% 80 179 (55)%

Costs of revenue 70 100 (30)% 75 (7)% 145 174 (17)%

Gross profit (25) 0 N.A. (40) (37)% (65) 6 N.A.

Recurring EBITDA (300) (10) (2,932)% (450) 33% (749) 169 N.A.

Gross margin (%) N.A. 0.4% N.A. N.A. 3.1% Recurring EBITDA margin (%) N.A. N.A. N.A. N.A. 94.3%

• Operating revenue was THB 45mn, declining 55% YoY, largely due to lower

commercial property revenue as a result of the effect from the COVID-19

pandemic

• Share of loss from investment in U City, our associate, of THB 268mn (THB

7mn loss in 2Q 2019/20) primarily from lower revenue from hotel operations

owing to the impact of COVID-19 pandemic

NOTE: Property operating performances exclude share of profit/(loss) from investment in U City




150,702 173,788

22,398 12,118

31 Mar 20 30 Sep 20

Total non-current assets Total current assets

185,906 173,100

67,245 62,912

72,940 90,000

32,915 32,993

31 Mar 20 30 Sep 20

Total shareholders' equity Total non-current liabilities

Total current liabilities

185,906 173,100

Cash 31 Mar 20: THB 3.2bn

30 Sep 20: THB 4.4bn

Cash & liquid investment 31 Mar 20: THB 17.7bn

30 Sep 20: THB 16.7bn

Current Financial Assets1

1 Apr 20: THB 2.8bn

30 Sep 20: THB 2.6bn

Non-current Financial Assets1 1 Apr 20: THB 18.0bn

30 Sep 20: THB 18.0bn

87%

13% 7%

93%

18%

34%

48%

39%

19%

42%

2Q 2020/21: 1.57x 2Q 2019/20: 1.18x

Gross Debt to Equity

2Q 2020/21: 1.31x 2Q 2019/20: 0.90x

Adjusted Net Debt3 to Equity

2Q 2020/21: 9.64x 2Q 2019/20: 6.65x

Adjusted Net Debt3 to Recurring EBITDA

2Q 2020/21: 3.31x 2Q 2019/20: 4.19x

Interest Coverage

2Q 2020/21: 0.37x 2Q 2019/20: 0.65x

Current Ratio

Assets Breakdown Liabilities and Equity Breakdown

Key Ratios

9

Financial Position as of 30 September 2020

1 The Group adopted TFRS 9 which the cumulative effect is recognised as an adjustment to the retained earnings as at 1 April 2020

2 Comprised of 20% floating-rate debt and 80% fixed-rate debt 3Adjusted Net Debt = Interest Bearing Debt – Cash and Cash Equivalent and Liquid Investment

(THB mn) (THB mn) Gross Debt

31 Mar 20: THB 88.6bn2

30 Sep 20: THB 99.0bn2

Adjusted Net Debt2

31 Mar 20: THB 70.9bn

30 Sep 20: THB 82.3bn

********

Issued Ordinary Shares

31 Mar 20: 13,154.3mn

30 Sep 20: 13,161.0mn



Agenda




10 BTS Group Earnings Presentation


BTS Group Update The 2nd Green Bond issuance of THB 8,600mn with average coupon of 2.72%

BTS Group Earnings Presentation Section 2: Business Updates

11

Green Bond Original Principal Size (THB mn)

Interest Rate (Issue Date: 6 Nov 20)

Maturity Date (Issue Rating by

TRIS: A)

Debenture 2 Yrs 500.00 2.10% 06 Nov 22

Debenture 3 Yrs 4,000.00 2.44% 06 Nov 23



Debenture 10 Yrs 600.00 3.41% 06 Nov 30

Total

8,600.00

Objective

The proceeds will be used for investment and debt repayment of the Eligible Green Projects which are • Pink line • Yellow line

By ICMA


BTS Group Update Acquisition of Mo Chit Land and development of Mo Chit Complex


12

Land area 11-0-40.7 Rai

Building type Mixed-Use Building (Office and Retail)

GFA 168,699 m2

NFA - Office - Retail/ Facility - Rooftop

82,193 m2

75,994 m2

4,784 m2

1,415 m2

No. of floor 36

No. of basement 3

Carpark 1,530 lots

Building height +150m

Targeted opening April 2024

Green design

Leadership in Energy and Environmental Design or LEED : Gold Level

Mo Chit Complex specifications Rationale & Background

STECON (the owner of the project), would like to divest this project for its internal working capital management purpose amidst the COVID-19 crisis

BTSG is also seeking for the new head office building to support the ongoing expansion of the Group

Investment Details

Acquisition of Mo Chit Land shares

THB 4.45bn

Development cost of Mo Chit Complex*

THB 9.94bn Over 4 years (FY 20/21 – FY 23/24)

*Expected 80% project financing

Projected Cash Inflow • Sale of land (expected THB 4.5bn) • Treasury divestment (expected THB 7-8bn)


Mass Transit & Transportation Update

13

Northern Green Line extension

Gold Line Phase 1

Oct 2021 Expected partial operation of Pink & Yellow Lines

Pink & Yellow Lines U-Tapao International Airport

Intercity Motorways (M6 & M81) Orange Line

Early 2022 Expected Notice to Proceed to be issued

9 Nov 2020 Bid submission

Early 2021 Expected best bid announcement

2020 Expected contract signing

Oct 2020 The first two driverless monorail trains were completely delivered

Dec 2020 Targeted full operation of Northern Green ext. and Gold Line Phase 1



Mass Transit Update All 3 trains for Gold line arrived in Aug 2020

* As of October 2020

97%*

Civil work completion

91%*

E&M work completion

December 2020

Expected Commercial Operating Date


14

GOLD


Mass Transit Update The first two driverless monorail trains for the Pink and Yellow Lines arrived

* As of October 2020


67%*

Construction completion PINK

October 2021 Expected partial operation

68%*

Construction completion YELLOW

October 2021 Expected partial operation

15


Western Orange

Mass Transit Update Orange Line

Orange Line (35.9km, 28 stations)

* Western Orange civil works and land exploration CAPEX

Expected timeline

2023 Targeted COD of Eastern Orange

10-24 Jul 2020 Request for proposal (RFP) selling period

2026 Targeted COD of Western Orange

9 Nov 2020 Bid submission

Early 2021 Expected Best bid announcement

Contract Type PPP Net Cost with subsidy covering (i) civil work construction of Western Orange and (ii) E&M and train procurement services for the entire Orange Line

Term 30 Years

CAPEX Civil ~THB 111bn* E&M ~THB 32bn

2 Consortiums submitted the bid

16 BTS Group Earnings Presentation Section 3: Appendices

Eastern Orange (under construction)

Underground Stations

Elevated Stations

Route Taling Chan – Thailand Cultural Center

Length 13.4km

No. of stations

11 (underground)

Route Thailand Cultural Center - Min Buri

Length 22.5km

No. of stations

17 (10 underground and 7 aboveground)

BSR JV BEM


Media Update VGI’s key developments in 2Q 2020/21


17

Delivered a full-loop of marketing solutions to complete consumers’ journey

• VGI and Minere (Thailand) launched a campaign by integrated offline Out-of-Home media with AR technology.

• Together, we build engagement with the BTS passengers by using ‘Recall’ application to scan QR code to receive discount coupon for Minere water, which led consumers to convert their interest to real purchasing

ADVERTISING

• Delivered a full-loop of marketing solutions to complete consumers’ journey

17

Prepared by BTS Group IR BTS Group Earnings Presentation Section 2: Business Updates

18

PAYMENT

• Partnered with the leading Chinese online travel booking platform

• Continued to experience strong user growth

o 13.6mn Rabbit Cards

o 7.9mn Rabbit LinePay users

• Received Superbrands Award from Superbrands Thailand

Partnered with the leading Chinese online travel booking platform

• RLP has partnered with TravelGo.com, the leading Chinese online travel booking platform. • Providing convenience local transportation and accommodation booking via RLP. • Currently, the user can access to ‘Flight’ and ‘Bus’ features in RLP while the ‘Hotels’

features is expected to launch in 1Q 2021/22

12.2 12.6

13 13.3

13.6

11.5

12

12.5

13

13.5

14

2Q 19/20 3Q 19/20 4Q 19/20 1Q 20/21 2Q 20/21

Rabbit Card

6.5 7 7.3 7.7 7.9

-1

1

3

5

7

9

11

2Q 19/20 3Q 19/20 4Q 19/20 1Q 20/21 2Q 20/21

Rabbit LinePay +12.0% +21.5

%

Received Superbrands Award from Superbrands Thailand

• Rabbit card received Superbrands Award for its e-Money services under Banking/ Finance and Credit Card category from Superbrands Thailand.

• This award reaffirmed that our brand has penetrated into all daily lifestyle consumption.



LOGISTICS

• Positive sentiment from Kerry Express plan’s to initial public offering

IPO INFORMATION

IPO Shares 300mn shares

ESOP (if exercised) 40mn shares

Par value THB 0.50

% of total issued shares 17.2%

Objectives 1) Expand network and capacity 2) Loan repayment 3) Working capital

Financial advisers SCB & Kim Eng

52.1%

PRE SHAREHOLDING STRUCTURE POST SHAREHOLDING STRUCTURE

11.7%

Total shares of 1,440mn shares Total shares of 1,740mn shares*

Others

63.0% 23.0% 14.0% 19.0%

Public Others

17.2%


19


TRASH TO TREASURE

• VGI partnered with Pomelo Fashion Company Limited (“Pomelo”) to promote environmental sustainability through ‘Trash to Treasure’ project.

• Upcycling vinyl from VGI’s used billboards and repurposing them for Pomelo’s packaging. • Together we able to return helps VGI slash its vinyl waste by 3.5 tons, while Pomelo is able

to cut back more than 200,000 pieces of single-use packaging.


SOCIAL RESPONSIBILITY

• Promote environmental sustainability through ‘Trash to Treasures’ project


20


21

Property Update U City’s key developments in 2Q 2020/21

Global hotel industry continues to struggle with the effects of COVID-19 Low occupancy rate continues to lessen revenue and profitability, even though getting better this quarter than last quarter with a positive EBITDA

To increase recurring revenue, U City purchased various commercial unit buildings in Bangkok, with secured long-term rents

Hotel’s status (as of Sep 20)

53

Reopened Expected to reopen in 4Q 2020 and 1Q 2021

hotels 4

hotels

U City’s long stay promotions

Multipurpose hotels with affordable long-term accommodation in Bangkok

3Q 2020 (Jul-Sep 20)

3Q 2019 (Jul-Sep 19)

2Q 2020 (Apr-Jun 20)

ADR (THB/ night)* 2,752 2,926 2,548

Occ Rate (%)* 33.0% 77.1% 11.3%

RevPAR (THB/ night)* 909 2,256 288

* Excludes ADR, Occupancy and RevPAR of AHS managed hotels

Sources: U City 2Q 2020 and 3Q 2020 MD&A


Property Update U City’s key developments in 2Q 2020/21

VERSO INTERNATIONAL SCHOOL THE CUSTOMS HOUSE (ROI CHAK SAM) THE UNICORN PHAYATHAI

Concept Providing unique learning experience by paring modern technology and contemporary teaching techniques

A luxurious 5-star hotel project in a rare, historic, colonial-era heritage building located along magnificent Chao Praya Riverside

51 levels of mixed-use building comprising of retail, office, hotel and residence

Project Value Approximately THB 4.8bn Approximately THB 4.6bn Approximately THB 9.3bn

Location Thana City On the Chao Praya Riverside, Soi Charoenkrung 36, Bangrak, Bangkok

Adjacent to 2 mass transit stations: BTS Phayathai Station and Airport Rail Link

Land Area 79.4 Rai or 12.7 Ha (127,065 sqm) 5.15 Rai or 0.82 Ha (8,240 sqm) 7.3 Rai or 1.2 Ha (11,749.6 sqm)

Construction Timeline

Project Period Approximately 42 months (Phase 1 & 2) 6 years Approximately 60 months

Status (as of 30 June 20)

Phase 1: 100% Phase 2: 98% School opened in 17 Aug 2020

1.2% Progress 22.9% Progress

4Q 2019 2025

Start Completion

3Q 2017 2Q 2022

Start Completion

2017 4Q 2020

Start Completion


22


Agenda

23




BTS Group Earnings Presentation


Transportation Update

EXTENSION GREEN ZONE 2 PINK AND YELLOW LINE M6 MOTORWAY M81 MOTORWAY U-TAPAO AIRPORT

Consortium N.A. (100% BTS)

75% BTS 15% STEC 10% RATCH

40% BTS 40% GULF 10% STEC 10% RATCH

40% BTS 40% GULF 10% STEC 10% RATCH

45% BA 35% BTS 20% STEC

Authority BMA MRTA DOH DOH RTN

Investment Type

O&M Contract PPP Net Cost PPP Gross Cost PPP Gross Cost PPP Net Cost

Operation 25 years 30 years 30 years 30 years 47 years

Scope Train procurement 25 years: O&M

39 months: Construction 30 years: Farebox revenue

collection and O&M

3 years: Design & Construction (Toll Plaza, Toll Collection System, Traffic Mgt Control System, Other infrastructure

30 years: O&M

3 years: Design & Construction (Toll Plaza, Toll Collection System, Traffic Mgt Control System, Other infrastructure

30 years: O&M

3 years: Design & Build Passenger Terminal Building 3, Commercial Gateway, Cargo Village, Cargo Complex

47 years: O&M

Project Cost Train procurement ≈THB 9.8bn

≈THB 96.1bn (gov’t subsidy, THB 47.55bn)

[to be disclosed] [to be disclosed] THB 31bn (phase 1)

Status Southern: full operation in Dec 18

Northern: Expected full operation by 2020

PPP Contract signed Expected partial COD: Oct 21

PPP Contract signing expected by 2020


PPP Contract signed on 19 June 2020, currently awaiting Notice-to-proceed

Remarks: This summary excludes “30-year O&M Contract” for Gold Line Phase 1 (Krung Thon Buri – Klong San, 1.8km, 3 stations) which the contract was signed in Jul 18, expected COD in Dec 20.

BTS Group Earnings Presentation Section 3: Appendices

24


Green Line Update 9 out of 16 Northern Green stations began operation

Northern Green Line extension (16 stations, 17.8km)

N8 N9 N17 N24 N13 N14

Mo Chit Ha Yaek Lat Prao

Kasetsart University

Royal Forest Department

Wat Phra Sri Maha That

Khu Khot

Aug 2019 Targeted in Dec 2020 Jun 2020 Dec 2019

Current Green Line network operation

52 stations 58.1 km

Green Line, to be operational in 2020

59 stations 66.7 km

N18

Phahon Yothin 59


25

1.7km 3.3km 8.6km 4.2km


Role & responsibilities

Design and development of the required Airport Infrastructure

Operations and maintenance over the concession term

Financing and maintenance over the project components

Consortium

Commercial Gateway 269 Rai (430,000 sq.m.)

Airport City 654 Rai (1,047,000 sq.m.)

45%

35%

20%

Cargo & Free Trade Zone 430 Rai (688,000 sq.m.)

Passenger Terminal Building 3

Timeline

3 Years 47 Years

30 Jan 2020

Announced Pricing Proposal Winner

2 Jun 2020

19 Jun 2020

Cabinet Approved PPP Contract

PPP Contract Signing

Early 2022

Early 2025

Early 2072

End of PPP contract Notice to proceed (NTP)

O&M Start Date

Start construction

Location Plub Pla ,Ban Chang District, Rayong Province

Land Area Approx. 6,500 Rai (10,400,000 sq.m.)

Contract Type PPP Net Cost

Contract Term 50 Years

Authority Royal Thai Navy

Total Project Cost THB 31bn (phase 1)

Equity Injection Paid-up capital of THB 9bn at COD

Sources of Fund Debt 70 : Equity 30

Project Details

3 Years 47 Years Design & Build Operation and Maintenance

Transportation Update U-Tapao international airport – at a glance


26


Transportation Update Intercity Motorway – BGSR JV as the best bidder

Status

M6: Bang Pa In – Nakhon Ratchasima

Investment Type PPP Gross Cost

Distance 196km

Contract Term 2 phases 3Y 30Y

Design & Construction Operating & Maintenance (O&M)

Budget Approved by the Cabinet THB 33.2bn

M81: Bang Yai – Kanchanaburi PPP Gross Cost

96km

THB 27.8bn

Authority Department of Highways

Department of Highways

Price Proposed by BGSR THB 21.3bn THB 17.8bn

BGSR JV

40% 40%

10% 10%

Expected COD 2023 2023

Bang Pa In

Nakhon Ratchasima

196km

96km

Bang Yai

Kanchanaburi

M 6

M 81

Scope of Works

Phase I: Design and Construction (3 years) • Toll Collection System • Traffic Management and Control System • Other infrastructure

Phase 2: Operation and Maintenance (30 years)


Consortium’s Members


27


BTS Group Update BTS-W5 Term Sheet

28

BTS-W5 TERMS AND CONDITIONS

Ticker BTS-W5

Term 1 year from the issuance date

Issuance date 17 February 2020

Expiry date 16 February 2021

Warrants price nil

No. of warrants 1,315,385,979 units

Allocation To existing shareholders at the ratio of 10 existing BTS shares : 1 BTS-W5

Exercise ratio1 1 BTS-W5 to 1.010 new common share of BTS

Exercise price1 THB 13.865 per share

Expected maximum proceeds THB 18.4bn

Exercise period Quarterly

1The adjustment took effect from 29 Jul 2020 onwards, following the condition in the event that the Company distributed dividends in cash in excess of 95% of the Company’s net profit after income tax under the standalone financial statements of the Company of any relevant fiscal year.



FY 2020/21 Mass Transit Guidance

THB bn 20

Pink & Yellow Lines Construction

THB bn 6

Mass-transit related interest income

THB bn 2.6

E&M provision and train procurement for Green Line extensions

Train O&M revenue

THB bn 5.2

FY 2020/21 CAPEX

THB bn 26

40% YoY


29

Date post:	02-Oct-2021
Category:	Documents
Upload:	others
View:	4 times
Download:	0 times

2Q 2020/21 BTS GROUP EARNINGS PRESENTATION

Documents