annualreport2014

100EXAT Notes to The Finacial Statement In addition, Expressway Authority of Thailand reserved money for delivering to the national income for the year 2014 to be in the amount of 3,232.59 million Baht, to pay for arrangement of land ownership and removal cost of public utilities in Sri Rat- Outer Ring Road Expressway Project, Bangkok Metropolis, to State Railway of Thailand and Department of Rural Roads, amounting 1,579.00 million Baht and repayment shall be made for loan to be due in October 2014, amounting 1,000.00 million Baht. 4.2 Temporary investments comprise Over 3-month fixed deposits Unit : Million Baht - Welfare fund 2014 2013 12.85 13.49 Total 12.85 13.49 4.3 Accrued government grants represent cash to be received from the Government for payment of loan interest shouldered by the Government. The details are as follows : Unit : Million Baht 2014 2013 Beginning balance as at October 1 41.03 193.40 Add Loan interest shouldered by the Government 6.08 44.76 Front-end fee shouldered by the Government - (1.89) Construction cost of Si Rat – Outer Ring Road 3,553.00 - Construction cost of Ram Inthra – Outer Ring Road 787.30 - 4,387.41 236.27 Less Grant income received during the year 2,175.55 195.24 Balance as at September 30 2,211.86 41.03 4.4 Other current assets comprise Unit : Million Baht 2014 2013 Employee collateral deposits Office tools 19.92 18.94 Others 3.74 4.72 11.40 21.36 Total 35.06 45.02 4.5 Fixed deposit with obligation EXAT’s payment guarantee for employee benefits in the form of deposits for the years 2014 amounts to Baht 126.49 and 121.49 million respectively. 4.6 ReceivablesfromtheJointInvestor representamounttobepaidbyBECLfromlanduseinSiRatExpresswayProject during 15th – 30th years of the contract, amounting to Baht 16,816.00 million. The amount is periodically recognized on the straight-line basis over the contract period of the years 1990 – 2013 as receivables amounting to Baht 13,220.91 million. At the end of September 30, 2014, receivables revenue amounts to Baht 560.53 million, total of receivables revenue amounts to Baht 13,781.44 million. Baht 9,100.00 million was paid up, with the remainder of Baht 4,681.44 million and Baht 1,200.00 million recognized as receivables from the Joint Investor due within one year. ANNUAL REPORT 2014

101Notes to The Finacial Statement EXAT 4.7 Property, plant and equipment – net comprise 30 September 2013 Unit : Million Baht Cost Accumulated depreciation Property, plant and begVinanliuneg aotf tpheeriod Increase Decrease Valuoef aptertihoedend Value oatf tpheerbioedginning Depreciation Increase Decrease begVinanliuneg aotf tpheeriod equipment - net Land 78,136.05 1,755.34 1.42 79,889.97 - - - - - 79,889.97 Expressway 108,230.08 400.03 - 108,630.11 19,186.16 1,808.87 - - 20,995.03 87,635.08 Building 1,769.96 32.21 - 1,802.17 634.06 47.59 - - 681.65 1,120.52 Office tools 1,206.42 94.25 38.95 1,261.72 775.34 170.44 - 38.95 906.83 354.89 Engineeringequipment 119.99 14.00 4.01 129.98 82.14 14.32 - 4.01 92.45 37.53 Vehicles 678.90 86.37 25.95 739.32 472.59 30.63 - 25.95 477.27 262.05 Total 190,141.40 2,382.20 70.33 192,453.27 21,150.29 2,071.85 - 68.91 23,153.23 169,300.04 30 September 2014 Unit : Million Baht begVinanliuneg aotf tpheeriod Cost Accumulated depreciation begVinanliuneg aotf tpheeriod Property, plant and Land 79,889.97 Increase Decrease Valuoef aptertihoedend Valueoatf tpheerbioedginning Depreciation Increase Decrease - equipment - net 633.80 15.73 80,508.04 - - - - 80,508.04 Expressway 108,630.11 345.24 - 108,975.35 20,995.03 1,833.99 - - 22,829.02 86,146.33 Building 1,802.17 29.97 - 1,832.14 681.65 51.22 - - 732.87 1,099.27 Office tools 1,261.72 195.41 24.11 1,433.02 906.83 186.34 - 24.11 1,069.06 363.96 Engineeringequipment 129.98 4.13 0.04 134.07 92.45 14.93 - 0.04 107.34 26.73 Vehicles 739.32 113.02 0.58 851.76 477.27 38.90 - 0.58 515.59 336.17 Total 192,453.27 1,321.57 40.46 193,734.38 23,153.23 2,125.38 - 24.73 25,253.88 168,480.50 EXAT’s assets that have been fully depreciated and are still in use have the carrying amount beforeaccumulated amortization of Baht 1,860.28 and 1,754.56 million for the years 2014 and 2013 respectively. Expressway – net, comprising 30 September 2013 Unit : Million Baht Cost Accumulated depreciation Expressway - net Expressway Value at the beginning Increase Decrease Value at the end of Value at the beginning Depreciation Decrease Value at the end of of period period of period period ChalermMahaNakhonExpressway 10,216.76 178.03 - 10,394.79 3,608.60 195.28 - 3,803.88 6,590.91 Si Rat Expressway 16,367.18 - - 16,367.18 3,839.04 216.47 - 4,055.51 12,311.67 Chalong Rat Expressway 14,914.00 49.55 - 14,963.55 2,497.21 271.43 - 2,768.64 12,194.91 Burapa Withi Expressway 28,103.97 75.17 - 28,179.14 4,958.21 443.89 - 5,402.10 22,777.04 Udon Ratthaya Expressway 15,106.11 1.50 - 15,107.61 2,745.06 201.52 - 2,946.58 12,161.03 Bang Na-At Narong Expressway 2,248.93 - - 2,248.93 276.11 38.85 - 314.96 1,933.97 Kanjanaphisek Expressway 21,273.13 95.78 - 21,368.91 1,261.93 441.43 - 1,703.36 19,665.55 Total 108,230.08 400.03 - 108,630.11 19,186.16 1,808.87 - 20,995.03 87,635.08 ANNUAL REPORT 2014

102EXAT Notes to The Finacial Statement 30 September 2014 Unit : Million Baht Expressway Cost Accumulated depreciation Exp-renseswt ay Value at the beginning Value at the end Value at the beginning Depreciation Decrease Value at the end of period Increase Decrease of period of period of period ChalermMahaNakhonExpressway 10,394.79 194.50 - 10,589.29 3,803.88 206.33 - 4,010.21 6,579.08 Si Rat Expressway 16,367.18 3.89 - 16,371.07 4,055.51 216.60 - 4,272.11 12,098.96 Chalong Rat Expressway 14,963.55 18.12 - 14,981.67 2,768.64 273.33 - 3,041.97 11,939.70 Burapa Withi Expressway 28,179.14 22.31 - 28,201.45 5,402.10 449.38 - 5,851.48 22,349.97 Udon Ratthaya Expressway 15,107.61 - - 15,107.61 2,946.58 201.57 - 3,148.15 11,959.46 Bang Na-At Narong Expressway 2,248.93 - - 2,248.93 314.96 38.85 - 353.81 1,895.12 Kanjanaphisek Expressway 21,475.33 1,703.36 447.93 - 2,151.29 19,324.04 21,368.91 106.42 - Total 108,630.11 345.24 - 108,975.35 20,995.03 1,833.99 - 22,829.02 86,146.33 4.8 Construction in progress includes. Unit : Million Baht 2014 2013 1,276.99 1,262.32 PS2roSjeecctto–r aCnodnsNuoltritnhgerfeneR,ocuotnestorfuTchtiiordn SctoasgteanExdpirnetsesrweasty System Others 222.62 50.32 1,499.61 1,312.64 Total 4.9 Deferred charges for engineering administration represent the consulting fee for environmental impact assessment. Others are to be transferred into construction in progress when the construction begins. The details are as follows : Unit : Million Baht Consulting fee for the foundation inspection of Burapa Withi 2014 2013 26.98 26.98 Cploannsufoltrinthgeffeirestfaonrdthseecaosnsedssstmaegentoaf InndtedlleigveenlotpTmraennspt oorft Smyastsetemr - 61.82 Other 36.04 22.53 Total 63.02 111.33 4.10 Trade and other payables Unit : Million Baht 2014 2013 433.44 445.95 Trade payables Accrued expenses 720.87 695.92 Accrued loan interest payables 342.63 391.00 1,496.94 1,532.87 Total ANNUAL REPORT 2014

103Notes to The Finacial Statement EXAT 4.11 Portion of long-term liabilities due within one year comprise Unit : Million Baht 2014 2013 Government loans 200.00 100.00 EXAT loans 8,500.00 6,718.00 Loan from Krung Thai Bank Public Co. Ltd - 762.00 Loan from Government Savings Bank 250.00 500.00 Loan from Land and House Bank Public Co. Ltd 250.00 400.00 Total 9,200.00 8,480.00 4.12 Other current liabilities comprise Unit : Million Baht 2014 2013 Withholding tax 14.37 13.91 Retention 78.31 77.24 Expressway card guarantee 19.79 19.79 Easy Pass guarantee 0.11 0.11 Property tax (pending submission) 19.63 16.06 Employee secured creditor 19.92 18.94 Short-term employee benefit obligation 63.32 58.82 Others 8.74 37.16 Total 224.19 242.03 4.13 Government loans for EXAT are provided without interest for the loan repayment of the Si Rat Expressway Project, amounting 9,806.89 million; the Kanjanaphisek toll collection system, the Interchange between Kanjanaphisek and Burapa Withi and the Interchange between Kanjanaphisek and Industrial Ring Road, amounting to Baht 6,572.00 million. The total amount to Baht 16,378.89 million, less Baht 200.00 million of the amount due within one year. As at September 30, 2014, the Government loans are in total Baht 16,178.89 million. 4.14 EXAT bonds comprise Baht 42,150.00 million, less Baht 8,500.00 million the amount due within one year, which left a balance of Baht 33,650.00 million for the following projects : Unit : Million Baht Bonds with principal and interest shouldered by EXAT 2014 2013 - Land acquisition cost of Si Rat Expressway 2,000.00 4,000.00 - Construction cost of Third Stage Expressway 400.00 400.00 - Construction cost of Chalong Rat Expressway 3,000.00 3,000.00 - Construction cost of Burapa Withi Expressway 18,900.00 20,900.00 - Construction cost of Karchanaphisek Expressway 14,850.00 14,868.00 - Construction cost of Ram Inthra – Outer Ring Road Expressway 2,500.00 2,113.00 - Administration 500.00 500.00 Total 42,150.00 45,781.00 ANNUAL REPORT 2014

104EXAT Notes to The Finacial Statement Bonds with principle and interest shouldered by the Government Unit : Million Baht - Construction of Ram Inthra – Outer Ring Road Expressway 2014 2013 Total Grand total - 487.00 - 487.00 Less the amount due within one year 42,150.00 46,268.00 Total 8,500.00 6,718.00 33,650.00 39,550.00 4.15 Long-term loans comprise Unit : Million Baht 2014 2013 Loan from Krung Thai Bank Public Co. Ltd Loan from Government Savings Bank - 762.00 Loan from Land and House Bank Public Co. Ltd 400.00 900.00 250.00 650.00 Total 650.00 2,312.00 Less the amount due within one year 500.00 1,662.00 150.00 650.00 Total 1) Loan from Government Savings Bank of Baht 400.00 million, less the amount due within one year of Baht 250.00 million, which left a balance of Baht 150.00 million for the following projects: Unit : Million Baht 2014 2013 Loan with principal and interest shouldered by EXAT - Construction cost of Chalong Rat Expressway - 300.00 - Construction cost of Burapa Withi Expressway 400.00 600.00 Total 400.00 900.00 Less the amount due within one year 250.00 500.00 Total 150.00 400.00 2) Loan from Land and Houses Bank Public Co. Ltd. of Baht 250.00 million, less the amount due withinone year of Baht 250.00 million, which has no balance for the following projects: Loan with principal and interest shouldered by EXAT 2014 2013 - Construction cost of Chalong Rat Expressway - Construction of Ram Inthra - Outer Ring Road Expressway - 150.00 250.00 500.00 Total 250.00 650.00 Less the amount due within one year 250.00 400.00 Total - 250.00 ANNUAL REPORT 2014

105Notes to The Finacial Statement EXAT 4.16 Deferred income comprise Unit : Million Baht Historical Cost recAocgcnuizmeudlaintecodme 2014 2013 Deferred income from joint venture 16,084.21 12,484.17 3,600.04 4,265.02 Si Rat Expressway 14,589.11 8,205.79 6,383.32 6,908.73 Udon Ratthaya Expressway 30,673.32 20,689.96 9,983.36 11,173.75 Total 197.23 200.56 250.00 52.77 Deferred income from donations 64.02 62.77 1.25 1.40 Udon Ratthaya Expressway 314.02 115.54 198.48 201.96 Other 787.30 8.46 778.84 Total 3,553.00 - 3,553.00 - 4,340.30 8.46 4,331.84 - Deferred income subsidies 35,327.64 20,813.96 14,513.68 - Chalong Rat Expressway 11,375.71 Si Rat Expressway Total Overall 4.17 Employee benefit obligations The reconciliation details of present value of the obligations are as follows : Unit : Million Baht 2014 2013 Present value of employee benefit obligations, as at October 1, 2013 758.24 737.03 Current service cost 48.63 49.67 Current interests cost 28.63 27.08 Employee benefits paid (34.65) (42.42) Profit from the calculation of estimated (1.60) (13.12) Present value of employee benefit obligations, As at September 30, 2014 799.25 758.24 The major actuarial assumptions for the calculation of estimated liabilities under the defines benefit plans as at September 30, 2014 are as follows: Discount Rate 3.02-4.28% Employee turnover rate 0.38% Employee salary increase rate 7.50% For employees' severance pay after resigning from the work in the contribution project; Expressway Authority of Thailand establishes the provident fund, deducting some part of employees' salary. Expressway Authority of Thailand contributes some part. Such provident fund was registered to be provident fund under the Provident Fund Act, B.E.2530 (1987). ANNUAL REPORT 2014

106EXAT Notes to The Finacial Statement For the year ending on 30 September 2014 and 2013, Expressway Authority of Thailand paid contribution amount to Provident Fund, amounting 116.71 million Baht and 110.49 million Baht, respectively. 4.18 Welfare fund comprises Unit : Million Baht Balance at October 1, 2013 2014 2013 Plus Contributions received during the year 13.87 12.44 0.68 0.69 Higher income than the expense transferred to the Fund 0.28 0.36 Enhanced capital allowance 0.80 0.38 Deducted members resigned 15.63 13.87 Enhanced capital allowance 1.60 - Balance as at September 30, 2014 0.35 - Obligations to pay employees resignations 13.68 13.87 13.68 13.87 According to the regulations of the EXAT No.42 regarding the Relief Fund, article 8 mentioned that if the Fund does cover employees’ resignations, the additional payment will be from the EXAT. 4.19 Other income consists of Unit : Million Baht 2014 2013 Recognized revenue from joint venture 1,190.39 1,190.39 Received revenue from land use 560.53 560.53 Revenue from government grants 8.46 - Income from arrangements of benefits in the parochial 232.85 182.37 Income from investment of debt security 11.21 16.76 Income from interest on deposits 93.46 78.44 Others 66.63 53.02 Total 2,163.53 2,081.51 4.20 Operations results Unit : Million Baht 2014 2013 increase Percentage (Decrease) Income 15,366.92 14,515.91 851.01 5.86 Deducted Expenses 7,811.41 7,926.81 (115.40) (1.46) Profit for the year 7,555.51 6,589.10 966.41 14.67 Progress from year 2014, the EXAT net profit for the year increased by baht 966.41 million or equivalent to 14.67 of the total income increased by baht 851.01 million or equivalent to 5.86 and total expenses decreased by baht 115.40 million or 1.46 percent. ANNUAL REPORT 2014

107Notes to The Finacial Statement EXAT 4.21 Expenses according to models consists of Unit : Million Baht 2014 2013 Expense regarding employees 2,187.58 2,121.57 Employee benefit 116.48 156.40 Executive remuneration 13.23 13.77 Committee remuneration Depreciation 3.27 2.88 2,125.38 2,071.85 4.22 Joint venture agreement 4.22.1 Sri Rat Expressway Project On the December 22, 1988, the EXAT had signed a contact with the Bangkok Expressway Public Company Limited to become the investor on construction, management and as well as maintenance of the Sri Rat expressway system. Duration of 30 years from the first day of construction which was March 1, 1990 and has a proportion of median income as follows: Network in urban area (Chaloem Maha Nakhon and Sri Rat expressway Part A and Part B) Share of EXAT Share of the company (Percentage) (Percentage) (1) First 9 years stated since “The full Opening of the first part” 40 60 (2) (2) Last 9 years “Duration of the contract” 60 40 (3) (3) Duration between (1) and (2) 50 50 Network outside city limits (Sri Rat Expressway Part C) Share of EXAT Share of the company (Percentage) (Percentage) (1) Start counting in the full opening day until the Sri Rat Expressway part B was finished 40 60 (2) From duration after (1) - 100 until contract expired The company has fully constructed the first part which are A and C area (Chaengwattana -Phayathai - Rama 9 Road), distance of 20.4 and opened for service on September 2, 1993. And for the part B area, mainline from Samsen waterfiltrationplant –BangKlo,distanceof9.4kilometersandopenedforservicewholeroutealreadyonOctober6,1996. 4.22.2 Sri Rat Expressway Project Part D (Rama 9 - Srinakarin route) The EXAT has signed a contract for the expansion of Sri Rat Expressway project part D with the Bangkok Expressway Public Company Limited on April 17,1997 as the investor for construction, management and as well as maintenance of the expressway in the approximate distance of 8 kilometers, and the collected total tolls belongs to the joint venture company because it is in the network outside the city limits. The construction was finished and opened for business on December 2,1998. 4.22.3 Udon Ratthaya Expressway Project The EXAT has signed a joint venturecontract with the Northern Bangkok Expressway Public Company Limited on the September 27, 1996 as the investor of construction, management and as well as the maintenance of the Expressway duration of 30 years - started counting from the contract signing day. The distance in total of 32 kilometers separated in: ANNUAL REPORT 2014

108EXAT Notes to The Finacial Statement Phase 1, Chaengwatana - Chiang Rak Range, distance : 22 kilometers; the construction was finished and service was provided on 2 December 1998. Phase 2, Chiang Rak - Bang Sai Range, distance : 10 kilometers; the construction was finished and service was provided on 1 November 1999. The total toll income belonged to the joint venture, Expressway Authority of Thailand would receive divided share from toll income, when the investment compensation for more than 15.5 per cent. 4.23 Value added tax that Expressway Authority of Thailand is responsible Expressway Authority of Thailand is responsible for value added tax on behalf of service users in Chalerm Maha Nakhon Expressway, Sri Rat Expressway (except Part D) and Chalong Rat Expressway Project. Normally, this value added tax shall be collected from service users, but Expressway Authority of Thailand cannot collect from service users. From the fiscal years of 1992-2013, value added tax that Expressway Authority of Thailand is responsible is 13,595.93 million Baht. In the fiscal year of 2014, ending on 30 September 2014, the amount is 1,028.28 million Baht and the total amount is 14,624.21 million Baht. 4.24 Contingent liabilities Expressway Authority of Thailand had liabilities that might occur from being litigated on 30 September 2014; total 23 cases, amounting 42,198.14 million Baht. Presently the case is in the consideration of the arbitration committee and the court. Expressway Authority of Thailand believed that there would not be any damage from case result to Expressway Authority of Thailand with important essence. Therefore, Expressway Authority of Thailand did not record the setting up of the estimation of liabilities that might occur in the account, as follows : Pendin g No. of Unit : Million Cases Baht Dispute - Cofomthpeeangsraeteiomnefnotr damage and breaching (CCAoornmbsiimtdraeittrtiaeotenio)n 2 3,636.96 - Cofomthpeeangsraeteiomnefnotr damage and breaching CAorbmitmraittitoene 8 19,852.56 - Compensation for damage and breaching Central 4 8,647.28 of the agreement Administration Court Total 14 32,136.80 Cases and-cColmaipmeinnsgatfoiornafdodritdiaomnaalgceosmpensation for land CoIunrsttaonfcFeirst 7 45.44 - Claiming for additional compensation for land Supreme Court 2 10,015.90 Total 9 10,061.34 Grand total 23 42,198.14 4.24.1 DisputesthatExpresswayAuthorityofThailandisfiledwithlawsuitsorcalledforcompensationduring dispute consideration process in consideration committee, in 2 cases, amounting 3,636.96 million Baht, as follows : (1) Bangkok Expressway Public co., Ltd. submitted proposal of disputes on 20 June 2014 claiming that the Expressway shall compensate damages from adjusting expressway toll rate, expressway system project stage 2, of 2013, together with interest, according to the contract, amounting 2,083.53 million Baht; from the fact that Expressway Authority of Thailand adjusted the toll rate under the notification of the Ministry of Transports, dated 2 August 2013; now the dispute is in the state of making objection/controversial claims (if any). ANNUAL REPORT 2014

109Notes to The Finacial Statement EXAT (2) Northern Bangkok Expressway Co., Ltd., submitted dispute proposal on 20 June 2014, claiming that the Expressway Authority of Thailand shall compensate damages from adjusting of toll rate in Bang Pa In - Pak Kret Expressway project of 2008 together with interest under the agreement, amounting 1,553.43 million Baht. Presently, dispute is in the stage of making objection/controversial claims (if any). 4.24.2 Dispute that the Expressway was prosecuted or was called for compensation during consideration of the arbitration committee in 8 cases, amounting 19,852.56 million Baht, as follows : (1) Bangkok Expressway Co., Ltd. submitted dispute proposal on 8 June 2000, claiming that the Expressway compensates the effect from \"exception event\" under Clause 19 of the agreement, because there is occurring of economic fluctuation in Thailand, resulting in inflation condition and high interest condition continuously; making the company to bear the interest in the rate which is higher than the rate specified in the agreement, amounting 5.12 million Baht together with interest; presently the dispute is in the stage that the arbitrators determine the consideration day. (2) Bilfinger + Berger Bauaktiengesellschaft, Ch. Kanchang Public Co., Ltd. and Dyckerhoff and Widmann AG, in the name of BBCD Joint Venture submitted dispute proposal on 16 October 2000, claiming that Expressway shall pay, additional installation cost of lighting electricity system in the Burapha Withi Expressway Project, amounting 316.17 million Baht, together with interest rate of 7.5 per cent per annum. Presently dispute is in the stage of arbitration that will determine the consideration date. (3) BBCD Joint Venture submitted dispute proposal on 9 November 2000, claiming for Expressway Authority of Thailand to pay advance money compensating to Ubon Sahatham Transport (1983) Co., Ltd., the contractor of Department of Highways for and on behalf of the Expressway according to the agreement to enter into construction site to construct in the expressway under the contract of Burapha Withi Expressway Project, amounting 51.72 million Baht; together with interest in the rate of 7.5 per cent per annum; presently the dispute is in the stage of the fact that arbitrators of both parties select the chairman of the arbitration committee. (4) Bangkok Expressway Public Co., Ltd. submitted proposal of disputes on 14 May 2008, claiming that Expressway Authority of Thailand shall compensate damages (scope in city area and outside scope of the city area of the Expressway system, stage 2), from the adjustment of Expressway toll rate of 2003, amounting 4,368.00 million Baht, together with interest under the agreement; and compensation of damages shall be done; to be difference between expressway toll rate of each type of motor vehicles of scope in city area and outside scope of the city area under the notification of Ministry of Transport, dated 29 August 2003 the expressway toll rate as claimed by the company until there is adjustment and enforcement of expressway toll rate which shall comply with claiming for not more than 31 August 2008 and interest under the agreement until payment finished. Now the dispute is in stage of investigation of witnesses. (5) Bangkok Expressway Public Co., Ltd. submitted dispute proposal on 24 July 2008, claiming for the Expressway Authority of Thailand to compensate the damage as difference between expressway toll rate of each type of motor vehicles of Expressway Stage 2, Part D, amounting 1,048.24 million Baht together with interest under the agreement and compensation of damages shall be done; to be difference between expressway toll rate of each type of motor vehicles of Expressway, stage 2, Part D under the notification of Ministry of Transports, dated 29 August 2003 and the expressway toll rate as claimed by the Company until there is adjustment and enforcement of expressway toll rate which shall comply with claiming for not more than 31 August 2008 together with interest under the agreement until payment finished. Now the dispute is in stage of appointment to be together in order to determine the dispute issues. ANNUAL REPORT 2014

110EXAT Notes to The Finacial Statement (6) Bangkok Expressway Public Co., Ltd. submitted proposal of disputes on 13 June 2013, claiming that Expressway Authority of Thailand shall compensate damages from adjusting expressway toll rate of expressway project in stage 2, in the year 2008, to be difference money between expressway toll rate for motor vehicles of each type in the scope of city area and outside of the city area, according to the expressway toll rate in the dispute proposal and expressway toll rate according to the notification of the Ministry of Transports, dated 15 August 2008; capital to be submitted as dispute, amounting 9,091.79 million Baht. Presently, the dispute is in the stage of the fact that both parties select the chairman of the arbitration committee. (7) Bangkok Expressway Public Co., Ltd. submitted proposal of disputes on 28 June 2013, claiming that Expressway Authority of Thailand shall compensate damages from adjusting expressway toll rate of expressway project in expressway stage 2,Part D in the year 2008, to be difference money between expressway toll rate for motor vehicles of each type in expressway, stage 2, Part D, according to the expressway toll rate in the dispute proposal and expressway toll rate according to the notification of the Ministry of Transports, dated 15 August 2008; capital to be submitted as dispute, amounting 4,062.83 million Baht. Presently, the dispute is in the stage of the fact that both parties appoint arbitrators of both parties. (8) NorthernBangkokExpresswayCo.,Ltd.submittedproposaltoArbitrationInstitute,on22October2013, claiming that Expressway Authority of Thailand shall compensate damages from adjusting expressway toll rate of expressway project in the year 2003, to be difference money between expressway toll rate in Bang Pa In – Pak Kret Expressway, according to the expressway toll rate in the dispute proposal and expressway toll rate according to the notification of the Ministry of Transports, dated 29 August 2003, capital to be submitted as dispute, amounting 908.69 million Baht. Presently, the dispute is in the stage of the fact that both parties appoint arbitrators of both parties. 4.24.3 Disputes in the period of process of Central Administration Court, numbering 4 cases, amounting 8,647.28 million Baht, as follows: (1) Italian-Thai Development Public Co., Ltd. submitted dispute proposal on 9 December 1999 calling for Expressway Authority of Thailand to pay the additional construction employment cost for construction of expressway of Connection Project of Dindaeng - Don Mueang Elevated Way with Expressway in Stage 1 and Stage 2, amounting 52.04 million Baht together with interest. On 18 June 2007, the arbitration committee decided for canceling the dispute proposal of the complainant. Later, the company submitted a petition to Civil Court in order to withdraw the decision of the arbitration committee and call for damages from Expressway Authority of Thailand, amounting 81.40 million Baht. The Civil Court transferred the case to Central Administration Court on 27 March 2013. Central Administration Court had judgment to cancel the petition of the company. The company submitted appeal against the judgment of Central Administration Court. On 26 June 2014, the public prosecutor who was authorized from Expressway Authority of Thailand, submitted appeal amendment to Supreme Administration Court. Presently, the case is in the stage of consideration of Supreme Administration Court. (2) Ch. Karnchang Public Co., Ltd. submitted lawsuit against Expressway Authority of Thailand to Central Administration Court on 14 October 2008, calling for Expressway Authority of Thailand to pay the interest from extension of time for construction under the construction employment agreement for construction of the expressway in Bangphli-Suksawat Expressway (Bangphli-Bang Khun Thian), for two times, amounting 248.00 million Baht together with interest. On 21 February 2013, Central Administration Court, had judgment for Expressway Authority of Thailand to pay the amount of money together with interest to be completed within 60 days, from the day final judgment. Expressway Authority of Thailand submitted appeal against the judgment of Central Administration. On 22 March 2013, the public prosecutor who was authorized from Expressway Authority of Thailand, submitted appeal to Supreme Administration Court. Presently, the case is in the stage of judgment of Central Administration Court. ANNUAL REPORT 2014

111Notes to The Finacial Statement EXAT (3) Northern Bangkok Expressway Co., Ltd. (NECL) received a dispute proposal on 20 December 2004 calling for Expressway Authority of Thailand to compensate the income of expressway toll rate in the part that there was reduction because of opening for use of Utraphimuk Elevated Way (Don Mueang Tollway in Memorial to Rangsit Section) which was deemed as a competing way, in the amount of 1,790.00 million Baht, together with interest under the agreement. Later, the arbitration committee had absolute decision for Expressway Authority of Thailand to pay the amount of money according to the claim of the company together with interest under the agreement. On 3 March 2009, the public prosecutor who was authorized from Expressway Authority of Thailand, submitted petition to Central Administration Court in order to request for withdrawal of the absolute decision of the arbitration committee. Later, on 1 September 2011, the company submitted a petition to request for Central Administration Court for judging or ordering together with issuing an enforcement for Expressway Authority of Thailand to perform under the decision of the arbitration committee, in case that the arbitration committee decided for Expressway Authority of Thailand to pay the amount of money as the company called for it together with interest under the agreement, in the total amount of 3,296.72 million Baht. The public prosecutor who was authorized from Expressway Authority of Thailand, submitted appeal to Supreme Administration Court on 31 May 2013. Presently, the case is in the stage of consideration of Supreme Administration Court. (4) Bangkok Expressway Public Co., Ltd. submitted a dispute calling for Expressway Authority of Thailand to divide income of expressway toll cost of the scope of city area that the company should receive, in the amount of 3,831.48 million Baht, together with interest under the agreement. The cause was different counting of the opening day of the first area. Later, the arbitration committee had absolute decision for Expressway Authority of Thailand to pay the amount of money according to the claim of the company together with interest under the agreement. On 20 April 2009, Expressway Authority of Thailand, submitted petition to Central Administration Court in order to request for withdrawal of the absolute decision of the arbitration committee. Later, on 19 October 2011, the company submitted a petition to request for judging or ordering together with issuing an enforcement for Expressway Authority of Thailand to perform under the decision of the arbitration committee and the order of the arbitration committee; there was computing of additional interest until the date of prosecution, in the amount of 1,189.68 million Baht, in the total amount of 5,021.16 million Baht. On 13 September 2013, the Central Administration Court had judgment to cancel the petition of Expressway Authority of Thailand, that requested for withdrawal of decision of the arbitration committee and there should be enforcement according to the decision of the arbitration committee. On 11 October 2013, the public prosecutor who was authorized from Expressway Authority of Thailand, submitted appeal to Supreme Administration Court. Presently, the case is in the stage of consideration of Supreme Administration Court. 4.25 Cost of arrangement of land ownership, electric train Project As on 30 September 2014, There was land that Expressway Authority of Thailand arranged ownership of land to Mass Rapid Transit Authority of Thailand, but ownership has not been transferred to Mass Rapid Transit Authority of Thailand, in the amount of 328.40 million Baht. 4.26 Cost of expropriation of land waiting for paying As on 30 September 2014 Expressway Authority of Thailand had cost of expropriation of land waiting for paying; persons whose land was expropriated have not come to receive the amount of money. Expressway Authority of Thailand deposited the amount at Government Savings Bank in the amount of 462.95 million Baht. ANNUAL REPORT 2014

112EXAT Notes to The Finacial Statement 4.27 Compensation to executives Unit: million Baht Compensation to directors 2014 2013 3.27 2.88 Compensation to executives 9.05 8.43 Benefit to executives 4.51 5.34 Total 16.83 16.65 Compensation to directors consists of bonus to directors and meeting allowance Compensation to executives consists of salary and bonus. Compensation to executives consists of right and benefit of executives from level of Deputy Governor onwards. 4.28 Grants from the government In the year 2014, Expressway Authority of Thailand received grants from the government to pay the interest and fees in Ram Inthra - Outer Ring Road Expressway, Bangkok Metropolis Project, amounting 6.08 million Baht and grants for construction cost, Ram Inthra - Outer Ring Road Expressway, Bangkok Metropolis Project, amounting 787.30 million Baht and land ownership setting cost, Sri Rat - Outer Ring Road, Bangkok Metropolis Project, amounting 1,375.57 million Baht. 4.29 Reclassification of transactions The financial information for the year ended on 30 September 2013, there was reclassification of transactions to comply with showing of transactions in the financial statement for the year ending on 30 September 2014. Unit: million Baht Before 2013 After reclassification reclassification Reclassification Cash and equivalent transactions to cash 1,916.14 3,500.00 5,416.14 Temporary investment 3,513.49 (3,500.00) 13.49 Total 5,429.63 - 5,429.63 This reclassification did not affect the comprehensive income statement. ANNUAL REPORT 2014

113Significant Statistics EXAT Significant Statistics Comparison of all types of vehicles using Chaloem Maha Nakhon, Si Rat, Chalong Rat, Bupapha Withi, Udon Ratthaya and Kanchanaphisek (Bangphli - Suksawat) in fiscal year 2010 – 2014 131,756,605 240,151,737 Y2E0A14R 25,122,877 50,992,56070,911,721 76,120,745 136,462,061 Y2E0A13R 244,228,179 49,804,96259,855,519 24,863,092 72,403,119 132,187,491 238,012,288 Y2E5A55R 20,880,40840,595,96610,6665,89,9022,0049 129,054,018 227,094,159 Y2E5A54R 21,46371,1,99683,874545,65,4402,20,35792 Y2E5A53R 19,86267,8,91910,194675,09,9712,73,70556 122,158,004 213,134,982 CMhaahlaoeNmakhon Si Rat Chalong Rat Burpha Withi Udon Ratthaya K(BaanncghaPnhalip-hSisuekksawat) Total numbers of vehicles in 2014 are 592,056,185 (trips) Number of vehicles using Chaloem Maha Nakhon, Si Rat, Chalong Rat, Bupapha Withi, Udon Ratthaya and Kanchanaphisek (Bangphli - Suksawat) classified by type of vehicles for fiscal year 2014 MaChhaaNloaekmhon 7238,3,27577,853 127,650,495 Si Rat 2933,2,58676,598 236,570,573 Chalong Rat 11754,35,88747 67,052,287 BuWraitphhi a 5928,7,43428,273 47,661,779 RaUtdthoanya Ka(nSBcuahknasganwaPphahltii)s-ek 573,1084,8705 24,747,124 3,61,0660,89,18282 66,404,951 4 Wheels 6-10 Wheels > 10 Wheels ANNUAL REPORT 2014

114EXAT Significant Statistics Number of all types of vehicles using Chaloem Maha Nakhon Expressway (First Stage Expressway System) classified by toll plazas in fiscal year 2014 Din Daeng 3,490,484 19,503,959 Petchaburi 5,258,650 Sukhumvit 5,676,713 19,325,309 Rama IV 1 6,920,825 19,288,077 River Side 3,254,313 Port 1 3,927,968 Port 2 At Narong 2,851,726 Sukhumvit 62 4,864,865 Bang Na Sathu Pradit 1 4,821,735 Sathu Pradit 2 1,266,151 Suksawat Dao Kanong 8,597,567 Rama IV 2 Din Daeng 1 5,490,497 Bangchak 2,645,639 At Narong 1 (Bang Na) At Narong 1 (Port) 6,560,460 2,389,637 5,622,030 Total numbers of vehicles are 131,756,605 (trips) ANNUAL REPORT 2014

115Significant Statistics EXAT Number of all types of vehicles using Si Rat Expressway (Second Stage Expressway System) classified by toll plaza in fiscal year 2014 Asoke 1 8,753,342 21,502,149 Asoke 2 1,821,394 Phahol Yothin 1 2,156,029 22,098,554 Phahol Yothin 2 2,152,013 21,898,111 Klong Prapa 1 Klong Prapa 2 2,485,884 21,502,149 Phahol Yothin Area 4,219,759 20,255,007 Bang Sue 4,888,472 20,539,761 Ratchadaphisek Prachachuen (inbound) Urban 3,276,381 Total 240,151,737 vehicles (trips) Sathu Pradit 3 5,178,562 Chan 1,579,254 Sathorn 3,933,604 Surawong Saphan Sawang 2,707,613 Hua Lumpong 6,529,366 Urupong Yommarat 4,288,342 Rama III 6,355,206 Asoke 4 Prachachuen (outbound) 1,615,809 Ngam Wong Wan 1 6,938,831 Ngam Wong Wan 2 2,334,975 Prachachuen 1 Prachachuen 2 3,181,463 Prachachuen (inbound) Suburban 4,087,109 6,362,935 Sri Nakarin 8,845,487 Asoke 3 Rama IX 5,440,178 2,544,180 Ramkhamhaeng Rama IX-1 9,474,054 Asoke 3-1 1,205,764 ANNUAL REPORT 2014

116EXAT Significant Statistics Number of all types of vehicles using Chalong Rat Expressway (Ram Intra - At Narong Expressway and Ram Intra - Outer Bangkok Ring Road) classified by toll plaza in fiscal year 2014 Ram Intra 3,270,363 5,179,447 Yothin Patthana 5,473,833 7,859,849 Lat Prao 4,666,809 8,136,200 Pracha Uthit 5,784,701 Rama IX-2 Rama IX-1 (Chalong Rat) 2,382,843 3,959,272 Patthanakarn 1 Phra Khanong 1,655,917 5,729,187 At Narong 2 (Port) 2,173,304 At Narong 2 (Bang Na) 3,095,308 Patthanakarn 2 4,454,114 At Narong 3-S1 3,250,983 Ram Intra 1 Sukhaphiban 5 -1 839,591 Sukhaphiban 5 -2 Jatuchote Total 67,911,721 vehicles (trips) Number of all types of vehicles using Burapha Withi Expressway (Bang Na - Chonburi Expressway) classified by toll plaza in fiscal year 2014 Bang Na km. 6( Inbound) 921,357 6,883,487 Bang Na 3 345,541 5,870,514 Bang Kaew 274,404 5,776,153 Bang Na km.9-1 1,013,245 9,198,296 Bang Kaew (ORR) 3,851,589 Bang Na km.9-2 941,998 Bang Phli 1 1,220,768 Bang Phli 2 2,146,667 Suvarnabhumi 1 2,955,730 Suvarnabhumi 2 1,141,742 Muang Mai Bang Phli 2,588,370 Bang Sao Thong 3,907,602 Bang Bo 117,940 Bang Phli Noi 1,765,413 Bang Samak 71,684 Bang Wua Bang Pakong 1 Bang Pakong 2 Chonburi Total 50,992,500 vehicles (trips) ANNUAL REPORT 2014

117Significant Statistics EXAT Number of all types of vehicles using Udon Ratthaya Expressway (Bang Pa In - Pakkret Expressway) classified by toll plaza in fiscal year 2014 Mueang Thong Outbound 962,482 Mueang Thong Inbound 1,759,937 Srisaman Outbound 2,816,886 Srisaman Inbound 3,408,901 Bang Poon Outbound Bang Poon Inbound 2,147,594 Chiang Rak Outbound 2,903,681 Chiang Rak Inbound Bang Pa In Outbound 2,315,258 Bang Pa In Inbound 2,642,645 3,142,103 3,023,390 Total 25,122,877 vehicles (trips) Number of all types of vehicles using Kanchanaphisek Expressway (Bang Phli - Suksawat) classified by toll plaza in fiscal year 2014 Bang Khun Thian (Exit 1) 2,457,329 10,403,270 Bang Khun Thian (Exit 2) 6,080,543 Bang Khun Thian (Exit 3) 5,014,712 511,559 Bang Kru (Exit 1) 2,216,156 Bang Kru (Exit 2) 1,535,524 Pak Nam (Exit 1) 790,388 Pak Nam (Exit 2) 1,867,690 Pak Nam (Exit 3) 7,414,709 Pak Nam (Exit 4) 3,445,158 Poochaosamingprai (Outbound) 2,965,210 Bang Muang (Exit 1) Bang Muang (Exit 2) 3,763,191 Bang Muang (Exit 3) 683,712 Thepharak (Exit 1) Thepharak (Exit 2) 1,540,762 Thepharak (Exit 3) 3,191,656 Thepharak (Exit 4) Bang Kaew (Exit 1) 2,740,548 Bang Kaew (Exit 2) Bang Kaew (Exit 3) 4,064,623 8,756,262 6,677,743 Total 76,120,745 vehicles (trips) ANNUAL REPORT 2014

118EXAT Significant Statistics Number of vehicles using Easy Pass in Chaloem Maha Nakhon Expressway (First Stage Expressway System) classified by toll plaza in fiscal year 2014 Din Daeng 1,158,224 5,895,546 Petchaburi Sukhumvit 2,187,028 5,733,212 Rama IV 1 2,196,905 5,790,870 Riverside 2,474,690 Port 1 Port 2 1,144,412 At Narong 1,494,846 Sukhumvit 62 1,103,320 Bang Na 1,514,945 Sathu Pradit 1 Sathu Pradit 2 542,615 1,604,413 2,430,817 Suksawat Dao Kanong 817,069 2,070,154 Rama IV 2 965,450 2,410,492 Din Daeng 1 Bang Chak 1,842,596 At Narong 1 (Bang Na) At Narong 1 (Port) Total 43,377,604 vehicles (trips) ANNUAL REPORT 2014

119Significant Statistics EXAT Number of vehicles using Easy Pass in Si Rat Expressway (Second Stage Expressway System) classified by toll plaza in fiscal year 2014 Asoke 1 2,878,740 Asoke 2 Phahol Yothin 1 787,482 Phahol Yothin 2 Khlong Prapa 1 742,246 Khlong Prapa 2 Phahol Yothin Area 566,254 Bang Sue Ratchadaphisek 928,316 Pracha Chuen (Inbound) Uurban Sathupradit 3 1,664,585 Chan 1,606,756 Sathorn Surawong 574,870 Saphan Sawang Hua Lumpong 1,712,795 Urupong Yommarat 7,080,962 Rama III Asoke 4 628,710 Pracha Chuen (Outbound) Ngam Wong Wan 1 1,251,316 Ngam Wong Wan 2 Pracha Chuen 1 1,053,855 Pracha Chuen 2 Pracha Chuen (Inbound) Suburban 2,163,690 Sri Nakarin Asoke 3 1,726,059 Rama IX 2,203,527 Ramkamhaeng Rama IX- 1 505,698 Asoke 3-1 2,089,330 831,386 7,617,729 7,315,284 839,765 996,015 1,565,369 2,089,258 7,080,962 6,724,292 7,198,649 1,624,975 960,665 3,801,741 334,135 Total 79,145,416 vehicles (trips) ANNUAL REPORT 2014

120EXAT Significant Statistics Number of vehicles using Easy Pass in Chalong Rat Expressway (Ram Intra - At Narong Expressway and Ram Intra - Outer Bangkok Ring Road) classified by toll plaza in fiscal year 2014 Ram Inthra 978,405 1,526,065 Yothin Patthana 2,072,057 3,103,689 Lat Prao 1,783,145 2,743,729 Pracha Uthit 1,674,922 Rama IX-2 Rama IX-1 (Chalong Rat) 1,140,927 Pattanakarn 1 1,343,858 Phra Khanong At Narong 2 (Port) 181,164 763,126 Pattankarn 2 1,374,762 At Narong 3-S1 Ram Intra 1 936,670 Sukhaphiban 5 -1 1,122,502 Sukhaphiban 5 -2 2,254,793 Jatuchote Total 22,999,814 vehicles (trips) Number of vehicles using Easy Pass in Burapha Withi Expressway (Bang Na - Chonburi Expressway) classified by toll plaza in fiscal year 2014 Bang Na km. 6 Inbound (exit Bang Na) 388,177 4,925,469 Bang Kaew 194,067 Bang Na km.9-1 1,470,704 Bang Kaew (ORR) 103,087 Bang Na km.9-2 418,097 Bang Phli 1 1,130,493 Bang Phli 2 Suvarnabhumi 1 420,243 Suvarnabhumi 2 341,438 Muang Mai Bang Phli Bang Sao Thong 776,785 490,749 Bang Bo 310,766 Bang Phli Noi 603,334 Bang Samak 931,589 Bang Wua 32,482 Bang Pakong 1 Bang Pakong 2 398,390 22,247 Chonburi 2,114,957 Total 15,073,074 vehicles (trips) ANNUAL REPORT 2014

121Significant Statistics EXAT Number of vehicles using Easy Pass in Kanchanaphisek Expressway (Bang Phli - Suksawat) classified by toll plaza in fiscal year 2014 Bang Khun Thian Exit 1 1,525,968 Bang Khun Thian Exit 2 364,099 Bang Khun Thian Exit 3 790,185 Bang Kru Exit 1 960,108 Bang Kru Exit 2 Pak Nam Exit 1 511,559 Pak Nam Exit 2 Pak Nam Exit 3 477,587 Pak Nam Exit 4 283,349 Poochaosamingprai Exit Bang Muang Exit 1 187,054 Bang Muang Exit 2 Bang Muang Exit 3 535,241 Thepharak Exit 1 Thepharak Exit 2 1,816,868 Thepharak Exit 3 Thepharak Exit 4 787,514 Bang Kaew Exit 1 Bang Kaew Exit 3 648,378 1,099,309 143,910 373,099 621,683 671,594 2,558,002 1,146,225 Total 15,501,732 vehicles (trips) ANNUAL REPORT 2014

EXPRESSWAY MAP



EXPRESSWAY MAP



Buapha Withi Expressway (Bang Na-Chon Buri Expessway)

Udon Rattaya Expessway

Kanchanaphisek (Bang Phli - Suksawat)

Expressway Authority of Thailand 2380 Phahonyothin Road, Sananikom, Chatujak, Bangkok 10900 Tel. 0 2562 0044, 0 2579 5380-9, 0 2940 1199 Fax . 0 2561 2984 EXAT Call Center 1543 www.exat.co.th Chalongrat Expressway and Bangna-Artnarong Special Way was certified under ISO 14001 : 2004 Use saving resource, Comply with rules, reduce accidents and care environment Chalerm Mahanakhon Expressway, 9001 : 2008 Standard Quick, correct, impressive and standard service