Bangkok Expressway And Metro Public Company Limited · SET:BEM
Bangkok Expressway And Metro Public — Investor Presentation (September 2026)
32 slides from Bangkok Expressway And Metro Public's investor presentation, September 2026
Slide 1: Bangkok Expressway and Metro PLC Investor Presentation
BANGKOK EXPRESSWAY AND METRO PLC Investor Presentation September 2026
Slide 2: Key Milestones
KEY MILESTONES 30 DEC 2015 31 MAR 2017 BECL and BMCL has been amalgamated to be 6 AUG 2016 22 AUG 2016 Signed the concession agreement Bangkok Expressway and Metro PLC “BEM” for the MRT Blue Line with MRTA, The MRT Purple Line (Bang Yai– The Prachim Ratthaya Expressway combining the MRT Initial Blue
Slide 3: Business Overview
BUSINESS OVERVIEW COMMERCIAL 1 EXPRESSWAY 2 RAIL 3 DEVELOPMENT Operation & maintenance Operation & maintenance Operates three types of activities • SES 38.5 Km • BL 48 Km 38 Stations • Advertising Bangkok Expressway and Metro (BEM) operates three core businesses • C+ 32.0 Km • PPL 23 Km 16 Stations
Slide 4: Financial Highlights
FINANCIAL HIGHLIGHTS TOTAL REVENUE CORE REVENUE STRUCTURE NET PROFIT Expressway Rail CD Others Unit: MB Unit: MB 17,139 17,766 17,591 Expressway : Rail : 4 2% 3,768 3,781 52% 3,479 1% (YoY) Q2/2026 2% (YoY) 4,371 4,335 CD : 6% 993 1,012 FY23 FY24 FY25 Q2/25 Q2/26 FY23 FY24 FY25 Q2/25 Q2/26 EPS | DPS
Slide 5: Historical Financial Performance
HISTORICAL FINANCIAL PERFORMANCE TOTAL REVENUE Expressway Rail Commercial Development Others Unit: MB 19,088* 20,404** COVID- 19 Pandemic 17,766 17,591 2,496 3,409 17,139 15,393 14,323 14,802 13,105 13,233 16,592 16,995 11,482 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 NET PROFIT Unit: M
Slide 6: Expressway: Business Overview
EXPRESSWAY : BUSINESS OVERVIEW BANG PA-IN MAP OF BANGKOK EXPRESSWAY SYSTEM FIRST STAGE EXPRESSWAY (FES) URBAN–SECOND STAGE EXPRESSWAY (SES) N SUBURBAN-SECOND STAGE EXPRESSWAY(SES) BEM has obtained concessions from EXAT for construction and operation BANG PA IN-PAKKRET EXPRESSWAY of three expressways
Slide 7: Expressway: Business Overview
EXPRESSWAY : BUSINESS OVERVIEW REVENUE & TRAFFIC STRENGTHS Revenue (Million Baht) Traffic (x100 Trips/Day) 1,117 1,116 • Over 30 years of experiences in expressway service and maintenance 12,000 1,107 1,084 1,085 • Operate and generate revenue from major expressway networks in central Bangkok 10,000
Slide 8: Rail: Business Overview
RAIL : BUSINESS OVERVIEW MRT BLUE LINE Type of Concession : PPP Net Cost BEM has obtained concessions from Mass Rapid Transit Authority of Thailand (MRTA) Income Source : Farebox for the operation of three MRT rail system projects. COD : Jul 3, 2004 (Initial BL) Mar 30, 2020 (fully operated BL) Conc
Slide 9: Rail: Business Overview
RAIL : BUSINESS OVERVIEW Blue Line Revenue (Million Baht) STRENGTHS REVENUE & RIDERSHIP Purple Line Revenue (Million Baht) BL Ridership (Thousand Trips/Day) • The only Circle Line in Bangkok 427 425 390 386 394 MRT • Connect with the majority of rail lines, leading to ridership feeding into each oth
Slide 10: Orange Line Project
ORANGE LINE PROJECT EAST SECTION Strategic Investment: Civil Work Increase its future cash flow as the project runs from 100% East to West, passing through key areas i.e. M&E Work • Commercial Areas : Central World, Platinum, and Rajamangala Stadium 72% as of Aug 2026 • Tourist Attractions : Grand P
Slide 11: Orange Line Project: Iconic Locations Along the Route
ORANGE LINE PROJECT : ICONIC LOCATIONS ALONG THE ROUTE WEST SECTION EAST SECTION Old Town area CBD area Community area Yaek Rom Klao Wat Phra Kaew Min Buri Keha Ram Ramkhamhaeng Ramkhamhaeng Khamhaeng University Hospital The Paseo Town Min Phattana Pracha Democracy The Golden Mount Monument Songkhro
Slide 12: Rail: Network
RAIL : NETWORK EXISTING LINES Distance Start Project Station Train Car Operator (Km) Operation • Hua Lamphong - Bang Sue 20.0 18 Jul 3, 2004 BLUE • Hua Lamphong - Lak Song 14.0 11 54 162 Sep 29, 2019 BEM • Bang Sue - Tha Phra 14.0 9 Mar 30, 2020 PURPLE • Bang Yai - Tao Poon 23.0 16 21 63 Aug 6, 2016
Slide 13: Rail: Iconic Locations Along the Blue Line
RAIL : ICONIC LOCATIONS ALONG THE BLUE LINE Phra Ram 9 G Tower • 5 Rai (66,000 Sqm) Bangsue Grand Station Chatuchak Market • Opened Chatuchak Park Mochit Complex Phetchaburi • 11 Rai (167,641 Sqm) • Under construction Singha Complex • Soft Opened in June 2025 • 9 Rai (120,000 Sqm) • Plan to official
Slide 14: Commercial Development: Business Overview
COMMERCIAL DEVELOPMENT : BUSINESS OVERVIEW REVENUE BEM has the exclusive entitlement to conduct Revenue (Million Baht) commercial development (CD) as specified in 1,400 the relevant concession agreement. 1,233 1,177 1,200 1,117 CD business is operated under BEM's subsidiary, 1,000 "BMN“, and consist
Slide 15: Commercial Development: Advertising
COMMERCIAL DEVELOPMENT : ADVERTISING Static Media Dynamic Media Static Lightbox Outsider Station Tunnel Train Sticker Wrap 15
Slide 16: Commercial Development: Advertising
COMMERCIAL DEVELOPMENT : ADVERTISING 16
Slide 17: Commercial Development: Retail Space
COMMERCIAL DEVELOPMENT : RETAIL SPACE 9 Metro Malls & 1 Retail Space for Gourmet Market 17
Slide 18: Future Projects
FUTURE PROJECTS SOUTH PURPLE LINE DOUBLE DECK NORTH : Bang Yai – Tao Poon SOUTH : Tao Poon – Rat Burana Regulator EXAT : Expressway Authority of Thailand Regulator MRTA : Mass Rapid Transit Authority of Thailand Distance 17.0 km Distance 23.0 km 23.6 km On SES expressway Area (Ngam Wong Wan - Phaya
Slide 19: Future Projects: South Purple Line
FUTURE PROJECTS : SOUTH PURPLE LINE NORTH : Bang Yai SOUTH : Tao Poon (Klong Bang Pai Station) – Rat Burana – Tao Poon (Kru Nai Station) Regulator MRTA : Mass Rapid Transit Authority of Thailand North Purple Line Distance 23.0 km 23.6 km 10 Underground and Station 16 Elevated Stations 7 Elevated Sta
Slide 20: Traffic & Ridership Update
TRAFFIC & RIDERSHIP UPDATE
Slide 21: Expressway: Average Daily Traffic Volume
EXPRESSWAY : AVERAGE DAILY TRAFFIC VOLUME (Thousand Trips/Day) 1,170 1,150 2026 2025 1,130 2023 2024 1,110 1,090 1,070 1,050 1,030 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC AVERAGE %YoY 2026 1,115.8 1,148.9 1,122.4 1,061.1 1,092.2 1,099.8 1,103.5 1,118.8 1,108.3 0.8% 2025 1,103.2 1,125.4 1,104
Slide 22: Expressway: Average Daily Traffic Volume
EXPRESSWAY : AVERAGE DAILY TRAFFIC VOLUME (Trips/Day) Aug - 26 Aug - 25 % Change 8M- 26 8M- 25 % Change 2Q- 26 2Q- 25 % Change 2025 2024 % Change FES 327,250 325,616 0.5% 324,929 318,503 2.0% 317,754 313,815 1.3% 321,626 321,364 0.1% SES Sector A 199,368 199,003 0.2% 199,518 199,504 0.0% 196,259 197
Slide 23: Expressway: Average Daily Toll Revenue
EXPRESSWAY : AVERAGE DAILY TOLL REVENUE (Million Baht/Day) 27 2026 26 2025 2023 2024 25 24 23 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC AVERAGE %YoY 2026 25.5 26.3 25.5 23.9 24.8 25.1 25.1 25.6 25.2 0.3% 2025 25.2 25.7 25.4 24.3 24.9 25.1 25.2 25.5 25.2 25.5 26.0 25.9 25.3 - 0.9% 2024 25.4 25.
Slide 24: Expressway: Average Daily Toll Revenue
EXPRESSWAY : AVERAGE DAILY TOLL REVENUE (Baht/Day) Aug - 26 Aug - 25 % Change 8M- 26 8M- 25 % Change 2Q- 26 2Q- 25 % Change 2025 2024 % Change FES 6,086,661 6,070,037 0.3% 6,054,256 5,945,310 1.8% 5,925,134 5,858,074 1.1% 6,001,400 6,003,589 -0.04% SES Sector A 3,669,685 3,663,762 0.2% 3,671,782 3,6
Slide 25: Rail: Average Daily Ridership Volume
RAIL : AVERAGE DAILY RIDERSHIP VOLUME (Thousand Trips/Day) 500 2026 450 2024 2025 400 2023 350 300 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC AVERAGE %YoY 2026 438.8 472.8 432.1 386.5 384.0 411.6 426.2 444.3 424.2 2.0% 2025 442.6* 461.2 411.1 373.9 378.1 405.8 417.9 439.9 447.1 447.0 456.7 425.
Slide 26: Rail: Average Daily Farebox Revenue
RAIL : AVERAGE DAILY FAREBOX REVENUE (Million Baht/Day) 15 2026 13 2024 2025 2023 11 9 7 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC AVERAGE %YoY 2026 13.1 14.1 13.0 11.7 11.5 12.4 12.7 13.2 12.7 2.2% 2025 13.2* 13.7 12.3 11.3 11.3 12.1 12.5 13.2 13.4 13.4 13.6 12.8 12.7 4.7% 2024 11.5 12.2 11.5
Slide 27: Rail: Average Daily Ridership & Farebox Revenue
RAIL : AVERAGE DAILY RIDERSHIP & FAREBOX REVENUE RIDERSHIP (Trips/Day) Aug - 26 Aug - 25 % Change 8M- 26 8M- 25 % Change 2Q- 26 2Q- 25 % Change 2025 2024 % Change Blue Line 444,304 439,864 1.0% 424,157 415,986 2.0% 393,930 385,844 2.1% 425,348 426,861 -0.4% FAREBOX REVENUE (Baht/Day) Aug - 26 Aug -
Slide 28: Sustainability
SUSTAINABILITY
Slide 29: Our Sustainable Journey
OUR SUSTAINABLE JOURNEY B Business Excellence and Ethics E Eco - Friendly Commute M Metropolitan Social Harmony GOVERNANCE ENVIRONMENTAL SOCIAL ZERO CORRUPTION AND BRIBERY ZERO INJURIES WITH SEVERE IMPACT ON PASSENGERS 100% of Board of Directors, executives and SOCIETY employees were communicated, r
Slide 30: Next Step for Our World
NEXT STEP FOR OUR WORLD BEM has partnered with CKPower The Use of Solar Energy for Our MRT to pioneer the use of solar energy in powering the MRT trains OBJECTIVES ▪ To reduce electricity cost and achieve our goal of Net Zero Emission PROJECT INFORMATION ▪ Installing solar panels to generate electri
Slide 31: Awards and Recognition
AWARDS AND RECOGINATION SET ESG Ratings 2025 “AAA” ESG 100 Excellence CG Scoring Excellent Rating on AGM Checklist ASEAN CG Scorecard 2025 Selected as one of the sustainable stocks From Thaipat Institute From Thai Institute of From Thai Investors Association Awarded the ASEAN Asset Class PLCs for th
Slide 32: Disclaimer / IR Contact
Disclaimer The 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 p rov ide the basis of any investm
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