Analyst Meeting

March 2015

1

Disclaimer

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

2

BA Update

Nov 2014

BA added the first ATR 72-600 to its fleet. Four more ATR 72-600 to be delivered in 2015

1

3

About the ATR 72-600

Passenger capacity: 70 seats

Engines: Pratt & Whitney 127M

Maximum takeoff power: 2,750 horsepower per engine

Maximum takeoff weight: 23,000 kg

Maximum load: 7,500 kg Maximum flight range when fully loaded: 900 nautical miles (1,665 km)

BA Update

Nov 2014

Chiang Rai international airport

- 25 seats Blue Ribbon Club lounge

for BA’Flyer Bonus Premier members

and their accompanies

2

4

Dec 2014

Garuda Indonesia become our

16th code share partner on routes

Bangkok – Samui

Bangkok – Phuket

Bangkok – Krabi

Bangkok – Chiang Mai

Bangkok – Chiang Rai Bangkok – Phnom Penh

Bangkok – Udon Thani Bangkok – Luang Prabang

Bangkok – Lampang Bangkok – Dhaka

3

BA Update

Dec 2014

Trat Airport was awarded for

outstanding EIA Monitoring

Awards for four consecutive years

4

5

Feb 2015

BA added the second ATR 72-600 to

its fleet. This ATR 72-600 will be

serving on routes such as Samui,

Sukhothai, Trat, Lampang, Luang

Prabang, Yangon and Siem Reap

5

BA Update

6

Feb 2015

BA Launches TVC “ Entire journey of Happiness” presented by YAYA

6

BA Update

7

Feb 2015

Bangkok Airways Holding set up a wholly owned

subsidiary “Gourmet Primo” . Target to operate by end of year 2015

Pre cooking items & Pre cutting items

7

2014 BA Highlights

Feb 2014

BA Sign Contract with ATR for 9 ATR 72-600 8

July 2014

Award from Skytrax

“World’s Best Regional Airline”

and “Asia’s Best Regional Airline”

Oct 2014

Chiang Mai will become BA third hub

Chiang Mai

Nov 2014

Thai DAC approved the

increase number of flight

In/Out Samui airport from 36 to 50 flights per day.

Nov 2014 First ATR72-600

Dec 2014

EGM Approved the

offset Retained losses

with share premium & legal reserve EGM

Nov 2014 BA Listed in SET

9

25Aircrafts

1/1/2014

31/12/2014

July and Nov 2014

BA added one A320 and one ATR72-600 to its

fleet based on its fleet expansion plan

2014

BA added 3 airlines as code

share partner

2014

BA launched 4 new routes

Chiang Mai - Phuket

Chiang Mai - Udon Thani

Chiang Mai - Yangon

Chiang Mai - Mandalay

& increased flight frequency

Bangkok - Samui

Bangkok - Chiang Rai

Bangkok – Krabi

New Route

Increased flight frequency

Krabi

Samui

Udon Thani

Yangon

Phuket

Mandalay

Bangkok

Chiang Mai

Chiang Rai

27Aircrafts

2014 BA Highlights

BA Offer

10

Flyer Bonus Birthday Surprise Bonus 2015!

Validity: January 1 to December 31, 2015

Introduce Car rental services

on Bangkokair.com

11

BA Offer

BA Offer

12

BA Offer

13

14

Use of IPO proceeds

Use of Proceeds

Working capital

Q4/14 Q1/15 Q3/15 Q4/15 Q1/16 Q2/16 Q4/16 Q1/17

9

Increase fleet size and/or

replacement of existing aircraft

Purchase of spare parts and

provisions in relation to fleet

adjustment

Construction of a hangar at the

Suvarnabhumi International

Airport

Improvements in Samui Airport

BA signed agreement to purchase

9 ATR 72-600 aircraft.

ATR 72-600

15

By Changi Airport consultant

Fleet Plans

16

21 25

27

43

2012 2013 2014 2018

Average of 3-4 aircraft per year

…………..

BA fleet intend to expand our fleet to 43

aircraft by year 2018. We have contacted and

discussed with major aircraft manufacturers

to compare and select the suitable aircraft for

our fleet.

Fleet Well-Suited for Route Network

17

2

8

8

10

21

25 27 28

2012 2013 2014 2015

A320

A319

ATR 72-500

8

5

8

8

7

10

1

8

8

10

ATR 72-600

Feb/

Operation Highlight

Financial Highlight

18

Operation HighlightAverage Stage Length(kilometers)

Aircraft Utilization (Block Hour per Day)

Average Fuel Price(USD per barrel)

19

662

795

662 661

771

Q4 2013 Q4 2014 2012 2013 2014

4,054

3,736

4,0894,040

3,771

Q4 2013 Q4 2014 2012 2013 2014

Average Fare(THB)

124

92

127 123 112

Q4 2013 Q4 2014 2012 2013 2014

9.2 7.9

10.0 9.1 8.8

Q4 2013 Q4 2014 2012 2013 20149.0

7.8

10.9 9.9

9.1

13.1

10.4 10.8

10.1 9.4

8.2

5.1

8.9 8.4

7.8

Q4 2013 Q4 2014 2012 2013 2014

Airbus 320 Airbus 319 ATR 72

Operation Highlight

Passenger Load Factor(%)

20

769 868

2,672 3,119 3,487

299 387

959 1,055

1,302

1,068 1,255

3,631 4,173

4,790

Q4 2013 Q4 2014 2012 2013 2014

Domestic International

Passengers(‘000)

576 855 1,856 2,175

3,230

539 634

1,731 1,887

2,424

1,116 1,489

3,587

4,063

5,655

Q4 2013 Q4 2014 2012 2013 2014

Domestic International

ASK(Millions)

417 578 1,400 1,668

2,209

297 420

1,006 1,091

1,482

714 998

2,405

2,759

3,691

Q4 2013 Q4 2014 2012 2013 2014

Domestic International

RPK(Millions)

64%

67% 67% 68%

65%

1 2 3 4 5

72%68%

75% 77%

68%

55%

66%

58% 58%61%

Q4 2013 Q4 2014 2012 2013 2014

Domestic International

2012–2014 Total CAGR: 15%

2012–2014 International CAGR: 17%

2012–2014 Domestic CAGR: 14%

2012–2014 Total CAGR: 24%

2012–2014 International CAGR: 21%

2012–2014 Domestic CAGR: 26%

2012–2014 Total CAGR: 26%

2012–2014 International CAGR: 18%

2012–2014 Domestic CAGR: 32%

Advance Booking

As of Feb 2015, Our booking growth 16% YoY

21

780,377

772,316

744,892

725,123

727,586

771,237

814,767

809,820

852,552

914,148

962,970

986,526

875,949

837,152

818,181

782,132

754,632

765,664

823,653

824,978

889,193

958,775

1,012,245

1,028,006

941,186

967,477

600,000

650,000

700,000

750,000

800,000

850,000

900,000

950,000

1,000,000

1,050,000

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB

2013 2014 2015

26.2% 23.4%18.9%

1 2 3

Financial HighlightRevenue(MB)

Net Profit(MB)

22

4,276 4,727

14,864 16,735 17,844

97 104

447

486 504

702 730

2,301

2,656 2,684

205301

1,909

845 1,091

Q4 2013 Q4 2014 2012 2013 2014

Airlines Airports Airport-related services Unallocated revenues

-283

227

1,832

990

386

Q4 2013 Q4 2014 2012 2013 2014

1,006

514

3,401 3,249

2,356

1,392925

4,754 4,780

4,110

Q4 2013 Q4 2014 2012 2013 2014

EBITDA EBITDAR

EBITDA & EBITDAR(MB)

2014

Fuel 33%

Pax. Services 16%

Salary & Wage 14%

AC Maintenance 10%

AC Lease 11%

Others

Company OnlyConsolidated

Company Only

Financial Highlight

23

COGS, 86%

Selling Exp.,

7%

Admin

Exp., 7%

COGS, 83%

Selling Exp., 8%

Admin Exp., 9%

2013

Consolidated

Fuel 31%

Pax. Services 15%

Salary & Wage 16%

AC Maintenance 12%

AC Lease 11%

Others

Q4 2013 Q4 2014 2012 2013 2014

3.1

2.3

1.71.5

1.0

4.2

3.2

3.9 4.0

3.3

4.4

3.4

4.5 4.5

3.4

Q4 2013 Q4 2014 2012 2013 2014

RASK THB CASK THB

Airport Related Services

24

Airport Related Services

Bangkok Air Catering Co.,

Ltd. (“BAC”)

1 of 3 catering service providers at

Suvarnabhumi Airport (20 years concession)

21 airline customers

The only Kosher meal producer in SEA

90%

Meal Uplifted(Millions)

25

Revenue(THB)

EBITDA(THB)

Net Income(THB)

317.4 386.8

1,083.61,231.4 1,350.0

Q4 2013 Q4 2014 2012 2013 2014

14.1

90.7

166.7183.9

267.0

Q4 2013 Q4 2014 2012 2013 2014

2.1 2.5

7.58.6 9.0

Q4 2013 Q4 2014 2012 2013 2014

40.990.9

310.4 325.8372.0

Q4 2013 Q4 2014 2012 2013 2014

Worldwide Flight

Services Bangkok Air

Ground Handling Co.,

Ltd. (“BFS Ground”)

1 of 2 international ground service providers at

Suvarnabhumi Airport (20 years concession)

61 airline customers

The only ISAGO certified operator

Airport Related Services

90%

Revenue(THB)

Net Income(THB)

Flight Handled(,000s Flights)

26

14.2 13.9

43.9

51.8 54.9

Q4 2013 Q4 2014 2012 2013 2014

523.6 506.4

1,571.1

1,893.9 1,948.8

Q4 2013 Q4 2014 2012 2013 2014

114.4

58.5

252.5

373.9

246.0

Q4 2013 Q4 2014 2012 2013 2014

73.1

27.5

148.1

258.1

111.5

Q4 2013 Q4 2014 2012 2013 2014

EBITDA(THB)

WFS-PG Cargo Co., Ltd.

(“BFS Cargo”)

1 of 2 international cargo terminal service

providers at Suvarnabhumi Airport

54 airline customers

The only ISAGO certified operator

Airport Related Services

49%

Cargo Handled and Capacity Utilization(,000s tons, %)

27

Revenue(THB)

Net Income(THB)

16.6% 17.7%

92.3%

63.6% 67.6%

Q4 2013 Q4 2014 2012 2013 2014

91.2 97.5

369.2 349.9 371.5

Q4 2013 Q4 2014 2012 2013 2014

380.2 402.7

1,370.9 1,420.81,557.7

Q4 2013 Q4 2014 2012 2013 2014

169.7 194.9

608.1 622.8684.1

Q4 2013 Q4 2014 2012 2013 2014

108.0 132.9

372.0 389.7453.9

Q4 2013 Q4 2014 2012 2013 2014

EBITDA(THB)

Increase Capacity from 400,000 to 550,000 Ton in 2013

Appendix

28

Long History of Success

Airport Related ServicesBoutique Airline Airport

2006

Entered into 20 year concession agreements for cargo services, ground services and catering operations at Suvarnabhumi International Airport

1989

Commenced operations at Samui Airport and received approval to fly first route (BKK-Samui)

2006

Listed Samui Property Fund on SET; retained a 25% stake

IPO on the SET

2004

Added Airbus A320 aircraft to fleet, reducing CASK and expanding international destinations

2007

Added Airbus A319 aircraft to fleet, increasing passenger capacity to most profitable destination—Samui

1994

Added ATR aircraft to fleet

1986

Commenced scheduled passenger flight service under the name “Bangkok Airways”

2013

Celebrated 45th

Anniversary

2014

Ordered 9 new ATR 72-600s

2014

29

Corporate Structure

Bangkok Airways Public Co., Ltd.

WFS-PG Cargo Co.,Ltd

Samui Airport Property Fund

Bangkok Air Catering Phuket

Co., Ltd.

SA Services Co., Ltd.

BAC Gourmet House Co., Ltd.

BFS Cargo DMK Co., Ltd.

90.00% 90.00% 99.99% 99.99% 49.00% 25.00%

69.99% 99.99%

99.99% 51.00%

49.00%

Bangkok Air Catering Co., Ltd.

Worldwide Flights Services

Bangkok Air Ground Handling

Co., Ltd

30

Bangkok Airways Holding Co., Ltd.

Bangkok Airways Ground Services

Co., Ltd.

Gourmet PrimoCo., Ltd.

99.99%

Competitive Strengths

Boutique Model: Creating a distinct and enhanced flying experience

1

Tourism Industry: Well positioned for tourism growth in Thailand and Southeast Asia

2

Samui Airport: Dominant Player for routes from/to Samui

3

Route Network: Cultural and leisure destinations across Southeast Asia

4

Code-shares: International code-share partners feed additional traffic

5

Distribution: Extensive reach to domestic and international passengers

6

Fleet: Reliable, modern and fuel-efficient fleet7

Airport-related Businesses: Additional sources of diversified revenue

8

Management: Highly experienced, with a proven track record

9

31

Shareholders Structure

Pre-IPO

No. of Shareholders : 1,409

Paid Up Capital : 1,580 MB

Post-IPO

No. of Shareholders: 15,137

Paid Up Capital : 2,100 MB

Prasarttong

- Osoth

Family,

91.47%

Sahakol

Estate,

4.05%

BDMS,

1.13%Management

,

2.08% Others,

1.27%

Prasarttong -

Osoth

Family,

60.96%

BBL, 5.00%

CREDIT

SUISSE,

3.19%

Sahakol

Estate,

3.04%

BDMS,

0.85% Management ,

1.04%

Others,

25.91%

as at Nov 3 ,2014

32

Major shareholders, BOD and Mgt. shares (62.74%) are locked up for 6 months after IPO

Route Map24 Scheduled Destinations in 10 Countries Including Thailand

China

Hong

Kong

Malaysia

Singapore

South China SeaKrabi

Samui

Siem Reap

Cambodia

Phnom Penh

Vietnam

Udon ThaniLampang

Nay Pyi Taw

Vientiane

Luang Prabang

Laos

Myanmar

Yangon Sukhothai

Thaila

nd

Chiang Rai

Andaman Sea

Phuket

Trat

(Koh Chang)

Pattaya

(U-Tapao)

Kuala Lumpur

Bangladesh

Dhaka

India

Male

Indian Ocean

Mumbai

Maldives

Mandalay

Bangk

ok

Chiang Mai

Code Share - Cost-effective Method of Feeding Traffic

from Global Markets without Investing in Long-Haul Fleet

China

Hong Kong

Malaysia

Singapore

South China SeaKrabi

Samui

Siem Reap

Cambodia

Phnom Penh

Vietnam

Udon Thani

Lampang

Nay Pyi Taw

Vientiane

Luang Prabang

Laos

Myanmar

Yangon Sukhothai

Thailand

Chiang Rai

Andaman Sea

Phuket

Trat

(Koh Chang)

Pattaya

(U-Tapao)

Kuala Lumpur

Bangladesh

Dhaka

India

Male

MaldivesIndian Ocean

Mumbai

Mandalay

Bangkok

Chiang Mai

MuscatAbu Dhabi

U.A.E.

Oman

Tokyo(Narita and

Haneda)

Japan

Osaka

Future PG Network RoutesCode-share Routes Operated by Etihad AirwaysCode-share Routes Operated by Malaysia AirlinesCode-share Routes Operated by SilkAirCode-share Routes Operated by Japan Airlines

Present PG Network RoutesBangkok Airways Airport

Bangkok Airways Route Map

Bangkok Airways Airport Future PG Network RoutesPresent PG Network Routes 33

BA have airports located in Samui, Trat and Sukothai

Dominant player for routes from/to Samui

Strong position for further expansion of Samui as second hub

Samui is among the top tourist destinations in Thailand, with approximately one million

tourists arriving each year

Samui

Trat

Sukhothai

Boutique Airports

34

THANK YOU

35