annualreport2014

50EXAT Corporate Governance Guidelines Sub-committee for Good Corporate Governance Name / Agency Position held Appointed Date Number Remuneration of Session (Baht) 1. Mr. Chanvit Amatamatucharti Chairman Oct 1, 2013-Sep 30, 2014 attended 87,500 2. Mrs. Urai Romphotiyok Member Oct 1, 2013-Sep 30, 2014 70,000 3. Mr. Chanon Chotvijit Member Oct 1, 2013-Sep 30, 2014 7/7 4,000 4. Air Marshal Arthit Pattawong Member Oct 1, 2013-Aug 18, 2014 7/7 5,000 5. Mr. Saguan Teeyapaiboonsin Member Oct 1, 2013-April 3, 2014 4/7 1,000 6. Air Marshal Banjong Klainasut Member 5/7 - 7. Col. Kritijak Chanakate Member Aug 19-Sep 30, 2014 1/7 - 8. Lt. Col. Sirapong Wilalai Member Aug 19-Sep 30, 2014 - - 9. Mr. Aiyanat Tinapai Member Aug 19-Sep 30, 2014 - - Governor Oct 1, 2013-Sep 30, 2014 - Expressway Authority of Thailand Member 3/7 - 1 0. Mr. Narong Gieddech Oct 1, 2013-Sep 30, 2014 Deputy Governor for Administration Secretary 5/7 - 1 1. Mr. Panya Chaiyanont Oct 1, 2013- Sep 30, 2014 - Director of Treasury and Accounting Department Secretary 6/7 - 12. Mrs. Benjamas Piyachotsukit Oct 1, 2013- Sep 30, 2014 - Director of the Office of the Governor Assistant 6/7 - 1 3. Mrs. Tasanuch Thammachot Secretary Oct 1, 2013- Sep 30, 2014 Director of Corporate Governance and 7/7 - Organization Value Management Division Assistant Oct 1, 2013- Sep 30, 2014 Treasury and Accounting Department Secretary 6/7 1 4. Mrs. Busaba Pathummas Director of Public Relations Division Office of the Governor Source : Corporate Governance and Organization Value Management Division Dated September 30, 2014 Authorities and Duties : 1. To determine the policy, strategy, goal and good corporate governance plan and corporate social responsibility. 2. To supervise the operation of good corporate governance and corporate social responsibility 3. To frequently monitor the operation and the assessment of good corporate governance and corporate social responsibility. 4. To enhance the dissemination of good corporate governance guideline thoroughly. 5. To operate other matter in relevant to good corporate governance and social accountability ANNUAL REPORT 2014

51Corporate Governance Guidelines EXAT Risk Management Committee Position held Appointed Date Number Remuneration Chairman of Session (Baht) Name / Agency Jan 17, 2013-Aug 19, 2014 attended 50,000 1. Mr. Sathit Laohachareonyot Member Appointed by Board of Expressway Authority of Thailand 4/4 Board Member Directors’ Resolution 1/2013 2. Mr. Chanon Chotvijit Dated Feb 4, 2013 3/4 3,000 3. Mr. Aiyanat Tinapai Member Jan 17, 2013-Aug 19, 2014 4/4 30,000 Governor Member Appointed by Board of Expressway Authority of Thailand Member 4/4 - Member Directors’ Resolution 1/2013 4. Mr. Lertsak Chingharanon Dated Feb 4, 2013 4/4 - Deputy Governor for Technical Affair, Expressway Authority of Thailand Jan 17, 2013-Aug 19, 2014 2/2 - Appointed by Board of 5. Mr. Narong Gieddech Deputy Governor for Administration Directors’ Resolution 1/2013 Expressway Authority of Thailand Dated Feb 4, 2013 6. Mr. Sintop Sirisingha Jan 17, 2013-Aug 19, 2014 Deputy Governor for Operation Appointed by Board of Expressway Authority of Thailand Directors’ Resolution 1/2013 Deputy Governor for Construction and Member Dated Feb 4, 2013 1/2 Maintenance Member 2/2 - Expressway Authority of Thailand Member Jan 17, 2013-Aug 19, 2014 (EXAT’s order No.71/2014 dated Mar 14,2014) Member Appointed by Board of 7. Mr. Amnuay Tansatru Directors’ Resolution 1/2013 Specialist 9 (Administration) Acting Dated Feb 4, 2013 Deputy Governor for Operation Expressway Authority of Thailand Jan 17, 2013-Mar 14, 2014 (EXAT’s order No.107/2014 dated Apr 3, 2014) Appointed by Board of Directors’ Resolution 1/2013 Dated Feb 4, 2013 Mar 14 - Aug 19, 2014 Appointed by Board of Directors’ Resolution 1/2013 Dated Feb 4, 2013 Apr 3-Aug 19, 2014 Appointed by Board of Directors’ Resolution 1/2013 Dated Feb 4, 2013 8. Mr. Sudthisak Wattanavinid Jan 17, 2013-Aug 19, 2014 0/4 - Director of Legal Department Acting Appointed by Board of 4/4 - Deputy Governor for Law and Land Acquisition, 4/4 - Expressway Authority of Thailand Directors’ Resolution 1/2013 Dated Feb 4, 2013 9. Mr. Pipoup Phucharoen Assistant Governor Jan 17, 2013-Aug 19, 2014 Expressway Authority of Thailand Appointed by Board of 10. Ms. Aoyatchara Rungrattanaubol Member and Directors’ Resolution 1/2013 Director of Risk Management and Internal Secretary Dated Feb 4, 2013 Control Division Expressway Authority of Thailand Jan 17, 2013-Aug 19, 2014 Appointed by Board of Directors’ Resolution 1/2013 Dated Feb 4, 2013 Source : Risk Management and Internal Control Division Dated September 30, 2014 ANNUAL REPORT 2014

52EXAT Corporate Governance Guidelines Authorities and Duties : 1. To analyze and evaluate the situation expecting to have risk and affect EXAT’s execution, to define the risk management policy in order to protect, control and reduce the risk which may occurred for executives and employees take into practice. 2. To define the risk management strategy in conformity with risk management policy, to supervise the risk management system to be appropriate, sufficient and efficient to ensure that EXAT has indicated, analyzed, evaluated and managed the risk to appropriate and acceptable level and connected to Internal Control system as well as to monitor, control and handle these risk continuously 3. To review the sufficiency and efficiency of risk management system and risk management policy including the efficiency and effectiveness of those performance stated in the policy, to give suggestion in order to improve and reinforce its ability to create EXAT’s value. 4. To supervise the guidebook and the risk management plan undertaking, to review plan including monitor and evaluate the risk management altogether with to give suggestion to improve those risk managements plan to conform to defined policy and strategy. 5. To enhance the communication on risk management to raise awareness and share responsibility on this matter effectively and cost-effectiveness, which makes the risk management partially organization culture and daily activity at every work unit 6. To perform any operation relating to risk management Sub-committee for Scrutinizing Meeting Agendas to the Board of Directors In fiscal year 2014, the Sub-committee for Scrutinizing Meeting Agendas to the Board of Directors convenes 7 meetings with the name list of members, sessions attended and remuneration (meeting allowance) as tabled below: Name / Agency Position held Appointed Date Number Remuneration of Session (Baht) 1. Pol. Maj. Gen. Surasit Sangkhaphong Chairman Mar 28, 2012–Sep 30, 2014 attended 62,500 Retired Government Official Member Appointed by Boards of Director’s 40,000 2. Mr. Aiyanat Tinapai Member and Resolution 5/2012 dated Apr 11. 2012 7/7 - Governor Secretary 6/7 - Expressway Authority of Thailand Assistant Mar 28, 2012–Sep 30, 2014 6/7 3. Mr. Narong Gieddech Secretary Appointed by Boards of Director’s 7/7 - Deputy Governor for Administration Resolution 5/2012 dated Apr 11, 2012 4. Mrs. Benchamas Piyachotisukit Assistant 7/7 Director of the Office of the Governor Secretary Mar 28, 2012–Sep 30, 2014 Expressway Authority of Thailand Appointed by Boards of Director’s Resolution 5/2012 dated Apr 11, 2012 5. Mrs. Vareerat Nititadakul Director of General Affairs Nov 1, 2012–Sep 30, 2014 and Conference Division Appointed by Boards of Director’s Office of the Governor Resolution 5/2012 dated Apr 11, 2012 Expressway Authority of Thailand (Appointed as EXAT’s order No. 415/2012 dated Oct 30,2012 to be Acting Director of Office of Governor since Nov 1, 2012) Mar 28, 2012–Sep 30, 2014 Appointed by Board of Director Resolution 5/2012 Dated Apr 11, 2012 Source : General Affairs and Conference Division Dated September 30, 2014 ANNUAL REPORT 2014

53Corporate Governance Guidelines EXAT Authorities and Duties : Scrutinize meeting agendas to the Board of Directors Independent Board In fiscal year 2014, the Independent Board convenes 2 meetings with the list of members, sessions attended and remuneration (meeting allowance) detailed as follows: Name / Agency Position held Appointed Date Number of Remuneration 1. Prof. Kumchai Jongjakapun Session (Baht) Professor, Faculty of Law Chairman Mar 28, 2012-Sep 30, 2014 attended 25,000 Thammasat University Appointed by Board of Directors’ 2/2 Resolution 6/2012 Dated Apr 11, 2012 2. Pol. Maj. Gen. Surasit Sangkhaphong Member Mar 28, 2012-Sep 30, 2014 2/2 - Retired Government Official Appointed by Board of Directors’ Resolution 6/2012 Dated Apr 11, 2012 3. Assoc. Pro. Jaruporn Vaiyanun Member Jan 9, 2014–Sep 30, 2014 2/2 2,000 External Independent Board Appointed by Board of Directors’ Resolution 1/2014 dated Feb 7, 2014 4. Mrs. Kulkanya Tumsen Secretary Mar 28, 2012-Sep 30, 2014 2/2 - Head of Conference Coordination Appointed by Board of Directors’ Section General Affairs and Resolution 6/2012 Dated Apr 11, 2012 Conference Division The Office of the Governor The Expressway Authority of Thailand Source : General Affairs and Conference Division, Office of the Governor Dated September 30, 2014 Authorities and Duties : The authorities and duties of the Independent Board are in accordance with its responsibilities under Chapter 3 of principles and guidelines on Corporate Governance of State-Owned Enterprises 2009. ANNUAL REPORT 2014

54EXAT Corporate Governance Guidelines Sub-committee for Coordination of Expressway Traffic Management Name / Agency Position held 1. Pol. Gen. Worapong Chewpreecha Chairman 2. Mr. Satit Laohachareonyos Member 3. Pol. Lt. Gen. Siripong Ongsangkhun Member 4. Pol. Maj. Gen. Uthaiwan Kaew Sa-ard Member 5. Pol. Maj. Gen. Adul Narongsak Member 6. Governor Expressway Authority of Thailand Member 7. Deputy Governor for Operation Member 8. Deputy Governor for Construction and Maintenance Member 9. Deputy Governor for Law and Land Acquisition Member 1 0.w Pol. Maj. Gen. Jirasan Kaewsaengake Member 11. Pol. Col. Vasant Taechaakrakasem Member 12. Pol. Col. Tinnakorn Somwandee Member 13. Commander of Samutprakarn Provincial Police Station Member 14. Mrs. Payao Marittanaporn Member 15. Representative of Office of Transport and Traffic Policy and Planning Member 16. Director of Traffic and Transportation Department Member Bangkok Metropolitan Administration or Representative 17. Director of Maintenance Department Member 18. Director of Legal Department Member 19. Director of Toll Collection Department Member 20. Director of Policy and Planning Department Member 21. Director of Expressway Construction Department Member 22. Director of Operation Planning Division Member 23. Director of Research and Development Member Expressway System Engineering Division 24 Director of Traffic Control Department Member and Secretary 25. Director of Traffic Management Division Traffic Control Department Member 26. Head of Traffic Management Section 2 and Assistant Secretary Traffic Management Division Traffic Control Department Member and Assistant Secretary Source : Traffic Management Division, Traffic Control Department Dated September 30, 2014 ANNUAL REPORT 2014

55Corporate Governance Guidelines EXAT Authorities and Duties 1. To set up measures and develop solutions to traffic problems in the area of the expressway, road links, intersection, toll plazas and on-off ramps. 2. To improve and apply technologies in expressway traffic management system in accordance with the management of on-off ramp area to alleviate the traffic congestion in the area of on-off ramps. 3. To coordinate to inform other related parties of EXAT’s measures and solutions to traffic problems in order to “facilitate expressway users to leave the expressways within appropriate period of time. 4. Expedite and follow up the outcomes of the expressway problem solution 5. Operate or perform other duties as assigned by the Board of Directors In fiscal year 2014, sub-committee for coordination of expressway traffic management has no meeting due to Thailand crisis that Pol. Gen. Worapong Chewpreecha has the mission to keep peace and order in such situation. Sub-committee for Toll Charge Consideration Sub-committee for toll charge consideration appointed by the Board of Directors’ order No. 7/2013 dated March 11, 2013 completed its tasks by considering toll adjustment of Chaloem Maha Nakhon, Si Rat, Udon Ratthaya and Burapha Withi Expressway in 2013 as assigned. The Ministry of Transport has already issued the Announcement dated August 2, 2013 as a consequence. PESnuhvbui-krecootnmmPrmeonvittitanecleeImfopratchteaFnedaDsiebtilaitiyleSdtuDdeysigonn oEfngKianteheur-inPga,toEncgonEoxmpriecs,sFwinaaynPcrioajleacntdin In 2nd quarter of fiscal year 2014, Sub-committee for the Feasibility Study on Engineering, Economic, Financial and Environmental Impact and Detailed Design of Kathu-Patong Expressway Project in Phuket Province convenes a meeting No.1/2014 dated March 26, 2014. ANNUAL REPORT 2014

56EXAT Corporate Governance Guidelines Co-ordination Committee for Si Rat-Outer Bangkok Ring Road Expressway Project Name / Agency Position held Appointed Date Number Remuneration of Session (Baht) 1. Mr. Aiyanat Tinapai Member Oct 1, 2013 – Sep 30, 2014 attended 12,500 Governor Mar 14-Sep 30, 2014 Expressway Authority of Thailand 1/2 1,000 Oct 1, 2013 – Sep 30, 2014 2. Mr. Sintop Sirisingha Member Oct 1, 2013 – Sep 30, 2014 1/2 2,000 Deputy Governor for Construction and Oct 1, 2013 – Sep 30, 2014 - Maintenance 2/2 - Expressway Authority of Thailand - 2/2 3. Mr. Poomsak Aranyakasemsuk Member Director of State Enterprise Substitute Development Office 1 Member Mr. Nitti Vidhayatem Substitute State Enterprise Special Analyst Member Mr. Pittaya Uthaisang State Enterprise Special Analyst 4. Mr. Danucha Pichayanun Member Oct 1, 2013 – Sep 30, 2014 - - Director of the Office of Governmental Oct 1, 2013 – Sep 30, 2014 - - Project Analysis Substitute Oct 1, 2013 – Sep 30, 2014 2/2 - Office of National Economic and Social Member 1/2 1,000 Development Board Substitute Oct 1, 2013 – Sep 30, 2014 1/2 1,000 Ms. Thida Patthathum Member (resigned since April 4, 2014) 1/2 1,000 Investment Analysis Expert Member Oct 1, 2013 – Sep 30, 2014 (Policy and Planning Expert Analyst) Substitute Oct 1, 2013 – Sep 30, 2014 Office of National Economic and Social Member Development Board Member Ms. Pawina Asavamaneekul (Policy and Planning Analyst, Senior Professional Level) Office of National Economic and Social Development Board 5. Mr. Siriwuthi Wattananirun Director of Legal Office Permanent Secretary Office Ministry of Transport Mrs. Kruewan Rakacheep Counselor, Senior Professional Level Permanent Secretary Office Ministry of Transport 6. Mr. Jakrapob Vacharamontien Civil Engineer Senior Professional Level Department of Highways ANNUAL REPORT 2014

57Corporate Governance Guidelines EXAT Co-ordination Committee for Si Rat-Outer Bangkok Ring Road Expressway Project (cont.) Name / Agency Position held Appointed Date Number Remuneration of Session (Baht) 7. Mr. Yuthaporn Arayapong Member Oct 1, 2013 – Sep 30, 2014 attended - Chief Bang Sue Permanent Way Inspector Way Maintenance Bangkok Division Oct 1, 2013 – Sep 30, 2014 - 2,000 Central Region Way Maintenance Center Since Mar 11, 2013 until Civil Engineering Department effective date of new 2/2 1,000 State Railway of Thailand tolling fee announcement 1,000 Mr. Anant Janengamkul by ministry of transport 1/2 Engineer of Special Project Management 1/2 - Center 1 dated Aug 2, 2013 1/2 - Construction and Special Project Oct 1, 2013 – Sep 30, 2014 2/2 - Department State Railway of Thailand Oct 1, 2013 – Sep 30, 2014 2/2 Oct 1, 2013 – Sep 30, 2014 8. Mrs. Payao Marittanaporn Member Managing Director, Bangkok Expressway Public Company Limited Substitute Mr. Sanguan Kunatinun Member Assistant Managing Director, Bangkok Expressway Public Company Limited 9. Mr. Sudthisak Wattanavinid Member Director of Legal Department Expressway Authority of Thailand 1 0. Mr. Suchart Chonlasakpipat Member Director of Expressway Construction Department Expressway Authority of Thailand 1 1. Mr. Putthikan Kanchanapunka Member Director of Expressway Engineering Division 2 Expressway Construction Department Expressway Authority of Thailand Source : Expressway Engineering Division 1, Expressway Construction Department Dated September 30, 2014 Authorities and duties 1. To monitor and supervise any operation as stipulated in the contract. 2. To inform internal and external agencies concerned to clarify and give information regarding monitoring and supervision to the committee. 3. To report result of the performance, progress, problem and solution to Minister of Transport for acknowledgement as scheduled by the committee but not more than 6 month at a time. ANNUAL REPORT 2014

58EXAT Corporate Governance Guidelines The authority of the Coordination Committee for Si Rat-Outer Bangkok Ring Road Expressway Project as stipulated in Section 2 of Public-Private Partnership Act B.E. 2535 (1992) terminated on April 4, 2014. At present, EXAT (the Legal Department) is currently cooperating with the Ministry of Transport to issue the announcement on the said committee in compliance with Section 43 of Public-Private Partnership Act B.E. 2013 (2013). It aims to perform duties, namely monitoring and supervising the project to be operated as stipulated in the PPP contract, giving solutions that may cause by the project operation and reporting the result of performance, progress, problem as well as solution to the Minister of Transport. CCoomnsmtriuttceteiofnorPMeroinoidtoorifngSiaRnadt-ImOpulteemreBnatnagtikoonkinRilinngeRwoitahdEEnxvpirroensmswenatyalPMroejeacsutres during Name / Agency Position held Appointed Date Number Remuneration Chairman Oct 1, 2013 –Sep 30, 2014 of Session (Baht) 1. Mr. Aiyanat Tinapai Member attended 12,500 Governor Member Mar 14 –Sep 30, 2014 - Expressway Authority of Thailand Substitute Oct 1, 2013 –Sep 30, 2014 1/3 2,000 Member Oct 1, 2013 –Sep 30, 2014 2/3 - 2. Mr. Sintop Sirisingha Member Oct 1, 2013 –Sep 30, 2014 2/3 1,000 Deputy Governor for Construction and Maintenance - Expressway Authority of Thailand Member Oct 1, 2013 –Sep 30, 2014 3/3 - Oct 1, 2013 –Sep 30, 2014 - 3. Mr. Ruengsak Thongsom Substitute Oct 1, 2013 –Sep 30, 2014 - - Office of Transport and Traffic Policy and Member - Planning Substitute Oct 1, 2013 –Sep 30, 2014 - 1,000 Mr. Phusit Chairitpong Member Office of Transport and Traffic Policy and Oct 1, 2013 –Sep 30, 2014 1/3 2,000 Planning Substitute Member 2/3 4. Mr. Anant Janengamkul Engineer of Special Project Management Center 1 Member Construction and Special Project Department State Railway of Thailand 5. Mr. Taweesak Lerdpraphan Deputy Director-General Public Works Department Bangkok Metropolitan Administration Mr. Watcharin Banpote Director of Design Office Public Works Department Mr. Thawatchai Napasaksri Civil Engineer Senior Professional Level Design Office Public Works Department Bangkok Metropolitan Administration Mr. Prasit Sathapanarit Civil Engineer Senior Professional Level Design Office Public Works Department Bangkok Metropolitan Administration 6. Mr. Narin Saisor Director Natural Resource and Environmental Office of Nonthaburi Province ANNUAL REPORT 2014

59Corporate Governance Guidelines EXAT CCoomnsmtriuttceteiofnorPMeroinoidtoorifngSiaRnadt-ImOpulteemr eBnatnagtikoonkinRilinnge RwoitahdEEnxvpirroensmswenatyalPMroejeacsutr(ecsodnutr.i)ng Name / Agency Position held Appointed Date Number Remuneration Oct 1, 2013 –Sep 30, 2014 of Session (Baht) 7. Director Member Oct 1, 2013 –Sep 30, 2014 attended - Office of Natural Resource and Environment Substitute Oct 1, 2013 –Sep 30, 2014 1,000 Policy and Planning Member Oct 1, 2013 –Sep 30, 2014 - - Ms. Intira Aeumolchat Substitute 1/3 2,000 Environmentalist Senior Professional Level Member Oct 1, 2013 –Sep 30, 2014 - Office of Natural Resource and Environment Substitute Oct 1, 2013 –Sep 30, 2014 2/3 1,000 Policy and Planning Member - Mr. Peerapol Deachachart Member Oct 1, 2013 –Sep 30, 2014 1/3 Environmentalist Senior Professional Level - - Office of Natural Resource and Environment Substitute Oct 1, 2013 –Sep 30, 2014 Policy and Planning Member 2/3 1,000 Ms. Raiwin Chompookul Oct 1, 2013 –Sep 30, 2014 Environmentalist Senior Professional Level Substitute 1/3 1,000 Office of Natural Resource and Environment Member Oct 1, 2013 –Sep 30, 2014 Policy and Planning Oct 1, 2013 –Sep 30, 2014 1/3 - 8. Ms. Jongjit Neeranatmaetheekul Substitute Oct 1, 2013 –Sep 30, 2014 - Director Member Oct 1, 2013 –Sep 30, 2014 - 2,000 Air Quality and Noise Management Office Oct 1, 2013 –Sep 30, 2014 - 2,000 Pollution Control Department Member 2/3 2,000 Mr. Panya Vorapecharayuth 2/3 Director Member 2/3 Noise Pollution and Vibration Section Member Air Quality and Noise Management Office Member Pollution Control Department Member Ms. Nipaporn Jaisaen Member Director Noise Pollution and Vibration Section Air Quality and Noise Management Office Pollution Control Department Ms. Pijitra Kiatkrairat Operation Environmentalist Noise Pollution and Vibration Section Air Quality and Noise Management Office Pollution Control Department 9 2nd Luit. Pairote Kanuengsap Director Dissemination and Public Relations Division Office of the Consumer Protection Board 10 Representative from Thailand Environment Institute* 11. Representative from Reporter and Journalist Association of Thailand* 12. Mr. Paiboon Aroonmit Surveyor Professional Level Chatuchak District Offic 13. Mr. Bancha Suebkrapan Architect Professional Level, Engineering Department Bang Sue District Office 14. Mr. Theerawaj Huayhongthong Civil Administration Officer Senior Professional Level Chief of Civil Department Bang Plad District Office ANNUAL REPORT 2014

60EXAT Corporate Governance Guidelines CCoomnsmtriuttceteiofnorPMeroinoidtoorifngSiaRnadt-ImOpulteemr eBnatnagtikoonkinRilinnge RwoitahdEEnxvpirroensmswenatyalPMroejeacsutr(ecsodnutr.i)ng Name / Agency Position held Appointed Date Number Remuneration Oct 1, 2013 –Sep 30, 2014 of Session (Baht) 15. Mr. Soontorn Chansawang Member Oct 1, 2013 –Sep 30, 2014 attended 2,000 Civil Engineer Professional Level Oct 1, 2013 –Sep 30, 2014 2,000 Talingchan District Office 2/3 2,000 Oct 1, 2013 –Sep 30, 2014 2/3 16. Ms. Rattanatorn Rattanasakul Member 2/3 1,000 Asst. Director Oct 1, 2013 –Sep 30, 2014 Taweewatthana District Office Oct 1, 2013 –Sep 30, 2014 1/3 - Oct 1, 2013 –Sep 30, 2014 - 17. Mr. Wara Palawatthanakul Member Oct 1, 2013 –Sep 30, 2014 - 1,000 Civil Administration Officer Senior Professional - - Level Chief of Engineering Department Oct 1, 2013 –Sep 30, 2014 1/3 2,000 Bangkoknoi District Office Oct 1, 2013 –Sep 30, 2014 - Oct 1, 2013 –Sep 30, 2014 2/3 - 18. Mr. Thongchai Olarnpattanachai Member - Deputy District Chief Member 3/3 Senior Professional Level 3/3 Bangbuathong District Mr. Na Nan Sanguanpong Deputy District, Chief of the Justice Enhancement Group Bangbuathong District 19. Director General Member Traffic Police Division Substitute Pol. Col. Theerasak Suriwong Member Deputy Director General Traffic Police Division Metropolitan Police Bureau 20. Assoc. Pro. Soparat Jarusombat Member Faculty of Political Science Thammasat University Member Qualified Expert Assoc. Pro. Jakkapong Pongpeng Faculty of Engineering King Mongkut’s Institute of Technology Ladkrabang Qualified Expert 21. Mr. Suchart Chonlasakpipat Member and Director of Expressway Construction Department Secretary Expressway Authority of Thailand 22. Mr. Putthikan Kanchanapunka Member Director of Expressway Engineering Division 2 and Assistant Expressway Construction Department Secretary Expressway Authority of Thailand Remark: * No dispatch of Representative Source: Expressway Engineering Division 1, Expressway Construction Department Dated September 30, 2014 Authorities and Duties 1. To supervise and monitor any performance complying with environmental measures of Si Rat-Outer Bangkok Ring Road Expressway Project as proposed in the environmental impact assessment and engineering design of substitute expressway for Phya Thai-Putthamonthon Expressway Project in State Railway of Thailand’s right-of-way, Bang Sue-Rama VI Route connecting Boromrajchonnanee Road 2. To report the result of supervision and monitoring the performance complying with environmental measures of Si Rat-Outer Bangkok Ring Road Expressway Project to the Board of Directors periodically for acknowledgement. ANNUAL REPORT 2014

Expressway Authority of Thailand

62EXAT Audit Committee Report Audit Committee Report Internal Audit Expressway Authority of Thailand (EXAT) established the Audit Office to provide assurance as well as independent and justifiable counseling service through systematically evaluating and improving the effectiveness of internal control process, risk management and corporate governance. It aims to add value and improve EXAT’s work performance for obligation achievement. The Audit Office performs its duty in compliance with Regulations of the Ministry of Finance on Internal Audit and State Enterprise’s Internal Audit B.E.2555 (2013), State Enterprise Internal Audit Improved Guidebook of the Ministry of Finance B.E.2555 (2013) and international standard for professional internal audit regulated by the Institute of Internal Auditors (IAA). The audit report would be proposed to the executives, audit committee and EXAT’s Board of Directors respectively. In fiscal year 2014 the Audit Office completed its work consistent with the 2014 audit plan and approaches stipulated in State Enterprise Internal Audit Guidebook of the Ministry of Finance as follows: 1. Audit 19 operating systems following the 2014 audit plan and monitoring the results 2. Audit operations according to the Cabinet’s resolutions 3. Verify financial report quarterly and annually 4. Verify corporate governance 5. Provide counseling service 6. Assess internal control assessment in accordance with the Regulations of the State Audit Commission on Internal Control B.E. 2544 (2001) 7. Verify risk management in fiscal year 2014 Audit Committee Report in Fiscal Year 2014 The Audit Committee appointed by the Board of Directors consists of 3 board members and Director of Audit Office as the secretary. In fiscal year 2014, there are 2 Audit Committees as follows: 1. Board of Directors’ order No.9/2011 dated December 7, 2011 appointing the Audit Committee on November 30, 2011 comprising Professor Kumchai Jongjakapun as the Chairman, Mr. Chanvit Amatamatucharti Mrs. Urai Romphotiyok as member and Director of Audit Office as the secretary. Professor Kumchai Jongjakapun resigned from the board member on July 21, 2014. 2. Board of Directors’ resolution in the meeting No. 5/2014 dated August 19, 2014 appointing the Audit Committee comprising Mr. Chanvit Amatamatucharti as the Chairman, Mr. Plakorn Wanglee and Mrs. Urai Romphotiyok as member and the Director of Audit Office as the secretary. Mrs. Urai Romphotiyok resigned from the board member on September 1, 2014. The Audit Committee performs its duties as assigned by the Board of Directors and approaches stipulated in State Enterprise Internal Audit Guidebook of the Ministry of Finance B.E.2013 (Revised), international standard for professional internal audit and the Audit Committee Charter. ANNUAL REPORT 2014

63Audit Committee Report EXAT In fiscal year 2014 the Audit Committee convenes 10 meetings consisting of a joint meeting with representatives of the Office of the Auditor General of Thailand as the auditor to Expressway Authority of Thailand. The remuneration incurred for the said auditor costs Baht 1,200,000. Another meeting with each EXAT’s department director is also organized due to concerning agendas aiming at discussing on any information and exchanging opinions for mutual understanding and good cooperation from internal and external organizations. Minutes of meeting are proposed to the Board of Directors whereas audit committee reports are quarterly and annually proposed to the Board of Directors. Those reports would be submitted to the Ministry of Transport and the Ministry of Finance at the year ended according to the work plan and rules and regulations concerned. In fiscal year 2014 the Audit Committee’s committed tasks can be summarized as the followings: Financialreports:Verificationoffinancialstatementisquarterlyandannuallyundertaken.Commentsgiven by the Office of the Auditor General of Thailand are forwarded to concerning agencies for further implementation. Result of the verification concerning significant information would be exposed as remarks on financial statement according to the accounting standard. Process of those financial reports are considered reliable and consistently conducted in line with general accounting principles as well as adequate and proper disclosure of information. Risk Management and Internal Control: Verification on risk management and internal control is undertaken according to annual risk management plan and control self-assessment. The result demonstrates effective, adequate and proper risk assessment and internal control consistent with determined objectives. To enhance efficient financial management, control of expenditure and payment is recommended and must be taken into consideration for EXAT’s maximum benefit. Concerning agencies have to increase more activities for generating more income and disbursement has to be committed as planned. GoodCorporateGovernance: Verificationofimplementationongoodcorporategovernanceapproachesis undertaken to assure whether EXAT’s dissemination of public information complies with the Act of Public Information B.E.2550 (2007). It includes monitoring on response to complaints and report on conflict of interest commissioned by the Board of Directors, executives and employees for the benefit of good and transparent management. Internal Audit Supervision: The tasks are defined; supervise, recommend and support independent and impartial performance of internal auditor; approve 5 year and annual audit plans as well as the Audit Office Charter, work manual, human resource development plan; verify audit performance in line with audit report and monitoring on its improvement; verify risk management and internal control and financial statement for efficient and effective performance as well as support all auditors to develop their knowledge based on international standard. Assurance of Audit Committee’s Quality: The Audit Committee performs its work according to the Audit Committee Charter and undertakes both group and independent self–assessment in compliance with approaches on audit committee of state enterprise stipulated by the Ministry of Finance. The result of self-assessment would be proposed to the Board of Directors accordingly. The meeting are held as scheduled in 2014, except those of July and September 2014 that the chairman and the audit member resigned respectively. Audit Committee performs its work carefully and gives independent opinions and recommendations which are beneficial to the organization as a whole. Cooperation from concerning departments is also well-obtained. It is commented that EXAT has undertaken financial statement demonstrating its significant performance and financial status aligned with general accounting principles properly and reliably. The risk management and internal control system is considered adequate in concurrent with proper and effective internal audit and committed performance of good corporate governance system as well. Compliance with law, rules and regulations concerned is carried out and no conflict of interest is found. Mr. Chanvit Amatamatucharti Chairman ANNUAL REPORT 2014

64EXAT Report on Performance Analysis Report on Performance Analysis Economic Status Expressway Authority of Thailand (EXAT), the state-owned enterprise under Ministry of Transport was established in B.E.2515 (1972) according to the Announcement of the Executive Council No.290 dated November 27, 1972. The legislation was then improved to the enactment of Expressway Authority of Thailand Act B.E. 2550 (2007), which was effective on January 9, 2008. Its main task is to solve traffic problem by means of expressway construction which helps support and enhance efficiency on national logistics development and services. Up to the present, expressways have been constructed to provide convenient, fast and safe transport service as well as alleviate traffic congestion on at-grade roads. There are 7 expressways and 2 expressway links opened to public covering total length of 207.9 km. Expressways opened to Public 1. Chaloem Maha Nakhon Expressway 27.1 km. in length 2. Si Rat Expressway 38.4 km. in length 3. Chalong Rat Expressway (Ram Inthra - At Narong and the Ram Inthra - Outer Bangkok Ring Road Expressway) 28.2 km. in length 4. Udon Ratthaya Expressway 32.0 km. in length 5. Burapha Withi Expressway 55.0 km. in length 6. Bang Na-At Narong Expressway 4.7 km. in length 7. Kanchanaphisek Expressway (Bang Phli – Suksawat) 22.5 km. in length Expressway Links 1. Elevated Road link between the southern part of the Suvarnabhumi Airport and Burapha Withi Expressway aiming to enhance service efficiency of the Burapha Withi Expressway as expressway network system to provide convenience for the trip to the Suvarnabhumi Airport. 2. Expressway link between the Kanchanaphisek Expressway (Bang Phli-Suksawat) and the Burapha Withi Expressway aiming to connect transportation route of which and the Eastern Outer Bangkok Ring Road. 3. Chaloem Rajadamri 84 Years of Age of His Majesty the King’s Commemoration Expressway Link (between the Kanchanaphisek Expressway (Bang Phli-Suksawat) and Industrial Ring Road) aiming to reinforce complete traffic network in the south of Bangkok. 4. Expressway link between Si Rat Expressway sector D (Asoke-Sri Nakarin)and Chaturathit Road Section C aiming to facilitate road users from Victory Monument, Si Ayudhya, Raja Prarop, Petchburi and Din Daeng Road to Si Rat Expressway Sector D (Asoke-Sri Nakarin) in order to take further trip to Chalong Rat Expressway, Suvarnabhumi Airport and Intercity Motorway No.7 onward. ANNUAL REPORT 2014

65Report on Performance Analysis EXAT Financial Analysis Traffic volume and toll revenue of fiscal year 2014 (October 2013 – September 2014) is as follows; Total traffic volume is 592.06 million trips/year or 1.62 million trips/day, increasing from fiscal year 2013 of 0.27%. Total toll revenue is 23,122.06 million baht/year or 63.35 million baht/day, increasing from fiscal year 2013 of 6.03%. Chaloem Maha Nakhon Expressway has the highest total traffic volume at 131.76 million trips/year or 0.36 million trips/day, the second highest is Si Rat Expressway in urban zone with the volume of 114.82 million trips/year or 0.31 million trips/day. The combined volume of Si Rat Expressway suburban zone and Sector D is 125.34 million trips/year or 0.34 million trips/day. Total traffic volume of Kanchanaphisek Expressway (Bang Phli – Suksawat) generates traffic volume of 76.12 million trips/year or 0.21 million trips/day. Chalong Rat Expressway generates total traffic volume of 67.91 million trips/year or 0.19 million trips/day. Burapha Withi Expressway generates total traffic volume of 50.99 million trips/year or 0.14 million trips/day. Udon Ratthaya Expressway generates total traffic volume of 25.12 million trips/year or 0.07 million trips/day. In fiscal year 2014 (dated September 30, 2014) EXAT possesses total asset amounting to Baht 183,912.95 million increasing from that of fiscal year 2013 amounting to Baht 2,169.49 million or 1.19% due to increase in current asset. Total debt amounts to Baht 77,267.96 million decreasing form that of the fiscal year 2014 amounting to Baht 2,532.46 million or 3.17%. The equity amounts to Baht 106,644.99 million increasing from that of the fiscal year 2013 amounting to Baht 4,701.95 million or 4.61%. In fiscal year 2014 (data available in October 2013-September 2014), total income amounts to Baht 15,366.92 million while total expense amounts to Baht 7,811.41 million and the net profit amounts to Baht 7,555.51 million increasing from that of fiscal year 2013 amounting to Baht 966.42 million or 14.67% due to increasing traffic volume. Outcome and Report on Performance Analysis In fiscal year 2014, EXAT possesses good performance and enable to achieve its corporate goal detailed as the followings: 1. Maximum utilization of expressway and asset: total area of 353,367.69 square wah in the expressway right-of-way has been utilized. Volume per capacity ratio (V/C) shows 0.82. 2. Assurance on quality of service and safety: EXAT has made a public opinion survey and found that an overwhelming 85.8% of customers has satisfaction on the service while accidents occurred in expressway per 100 million vehicle/kilometer trip shows 13.27. 3. Stable growth on performance with reasonable profit resulting in net profit of Baht 7,555.51 million. ANNUAL REPORT 2014

66EXAT Internal Control Internal Control To assure the achievement of the organization’s objectives, Expressway Authority of Thailand (EXAT) puts emphasis on the internal control continuously through the usage of resources, custody of asset, accurate and reliable accounting and financial reporting as well as compliance of law, regulations and cabinet’s resolutions deployed by both management and operation levels. Constant analysis and evaluation of the internal control system is undertaken on a regular basis in order to enhance operational efficiency and effectiveness and timely adopt to changing environment. The monitoring report on EXAT’s internal control in line with the Rules enacted by the State Audit Commission on Internal Control B.E 2544 (2001) has been proposed to the Audit Committee and the Board of Directors for approval and acknowledgement respectively and verified by the Audit Office as the internal auditor. According to the international standard of Committee of Sponsoring Organizations of the Treadway Commission: COSO, which aligns with the standards stipulated by the State Audit Commission concerning Internal Control B.E 2544 (2001) topic 6, EXAT possesses 5 critical components of internal control namely: 1) Control Environment EXAT’s operation guidelines abides to the principle of good corporate governance. The written good governance policy is adopted and disseminated to all employees as practical approaches. Organizational structure, chain of command and delegation of authority is obviously and well-established. Work manual is provided as a tool for employee’s efficient operation. Revision of good governance, ethics guidebook and morality is also provided and disseminated to employees as operational guidelines. Reports on conflict of interest, promotion and support of organizational culture focusing on honesty and morality are carried out coping with complaint channel and responses as well as summary analysis of which proposed to the executives. 2) Risk Assessment Risk management has been established to the whole organization. The Risk Management Committee has been designated to define policies and supervise the risk management system to ensure that risk identification, analysis, monitoring and assessment is managed to acceptable level. The Division of Risk Management and Internal Control has been assigned to cooperate, monitor and report the result of enterprise risk management ANNUAL REPORT 2014

67Internal Control EXAT to ensure that EXAT’s risk management achieves the objectives as targeted. Moreover, EXAT assesses the risk in all operational process and reviews it in compliance with changing circumstances so as to assure that risk assessment has been undertaken in all activities with fully designated persons and mitigation measures. 3) Control Activities EXAT specifies control activities properly at all positions and levels embedded in normal work performances that enhances efficiency and effectiveness to the achievement of EXAT’s objectives. It also includes controlling and monitoring on work performances in line with the stipulated internal control system. The written authorization is clearly specified and informed for employees’ acknowledgement. Besides of this, the internal control is consistently reviewed and revised complying with risks and changing environment. The reference document namely, financial and non-financial reports are undertaken and collected for verification. 4) Information and Communications EXAT provides adequate, reliable, up-to-date and timely information such as SMS, e-mail, intranet, Internet, journals, EXAT Sound, annual report, e-learning, Public Information Center and MIS system (EXAT.DOC) to executives and all levels of employees for management and decision-making through communication access for both internal and external organization. The communication between executives and employees has been arranged on a regular basis in order to meet and exchange opinions. 5) Monitoring and Evaluation EXAT has assessed the work performance continuously by adopting the key performance indicator system, aiming to monitor the result on significant work performance of all levels of employees. The said work performance has been currently monitored by normal work routine and monthly meeting. Moreover, individual evaluation has been performed, namely control self-assessment (CSA) which has been quarterly carried out through internal control information system. Monthly evaluation has been carried out as well when the degree of risk was minimized by risk management and close monitoring was required necessary. Independent assessment has been undertaken by the internal auditor to ensure adequacy, efficiency and effectiveness of the internal control system. The result of which would be proposed to the executives for proper and timely improvement and such an improvement would be monitored continuously. In fiscal year 2014, EXAT has shared knowledge of internal control to executives and employees by means of providing X-stand as public information at the office buildings and on-the-job training. Such training would be held continually aiming to provide knowledge, understanding and awareness to employees and promote the internal control as part of organization culture onward. ANNUAL REPORT 2014

68EXAT Risk Management Risk Management Expressway service is regarded core business of Expressway Authority of Thailand (EXAT) mainly to alleviate traffic problem. Other businesses are also carried out under the concept of economical asset utilization. Risk management has been adopted, in pursuant to COSO-ERM Portfolio Views of Risk Framework, as a tool to support its operation by means of Value-based Enterprise Risk Management (VBRM) resulting in successful management and sustainably organizational and national value. EXAT focuses on strategic management in order to transform risk or threat to opportunity, including making use of such an opportunity to create organizational value and benefit. Risk management plan has been conducted annually for identifying risk management approaches and risk management plan since 2003 in conjunction with the Cabinet’s resolution on February 6, 2001 approving on measures and approaches of good corporate governance proposed by the Ministry of Finance. The said plan has been annually reviewed and improved according to changing circumstances for achieving the objectives and obligation defining that risk can be managed in acceptable level consequently. The Value-based Enterprise Risk Management (VBRM) emphasizes on holistic risk demonstrating how relations of each risk factor affects organization objectives. The effect of which caused by risk or any risk factor are mostly different from that caused by relative factors. VBRM is adopted continually to develop risk management and serve the State Enterprise Performance Appraisal (SEPA). SEPA is the result-based appraisal categorizing in 7 sections, namely leadership, strategic planning, customer and market focus, measurement, analysis and knowledge management, human resource focus, process management and results. Since 2013 EXAT has adopted SEPA and risk management has been involved in many items such as 1.2 b, 2.1 a(1)(2), 2.1 b(2), 2.2 a(3), 4.2 b(2) and 6.1 c item. Under the corporate plan of fiscal year 2012-2016 and action plan of fiscal year 2014, the enterprise risk management has been undertaken to the whole organization covering all main operations which have been developed from that of fiscal year 2013. In addition, EXAT reviews and improves enterprise risk management complying with changing circumstances as mentioned before in order to achieve stipulated obligations. In fiscal year 2014, there are 3 types of risk, 5 risks and 12 risk factors relating to each other. The risk management plan is formulated to reduce these 12 risk factors defined as up to moderate degree of risk as follows: Financial 1. EXAT’s outcome of financial management plan Strategic Strategic 2. Utilization on expressway right-of-way plan 3. Resolving traffic congestion in front of toll plaza plan 4. Resolving traffic congestion on expressway route plan Compliance with law and regulations 5. Execution on PPP contract of Si Rat – Bangkok Outer Ring Road Expressway Project Plan In fiscal year 2014 the business continuity plan (BCP) has been reviewed and improved according to current situation. It aims to prepare for resolving any critical situation that may occur and affect EXAT’s operation. ANNUAL REPORT 2014

69Research and Development of Expressway Service EXAT ResoefaErxcphreasnsdwDayevSeelrovpicmeent Intelligent Transportation System Development to enhance Expressway Efficiency ANNUAL REPORT 2014

70EXAT Research and Development of Expressway Service fFoerasIinbtileitrynSattuiodyn,aSluLrovegyisatincdaPl rDeelimveinloaprymDeenstigPnroofjeEcxtpressway Expressway Authority of Thailand (EXAT) sets a policy to put forward the concept of expressway connections to neighboring countries and international logistical development in the hope of creating Thailand’s expressway into an AEC intersection linking the four border crossings. The one stop service such as taxation, border crossing, accommodation area will also be provided. The feasibility study, survey and preliminary design of Expressway for international logistical development project has been, therefore, conducted primarily at Sadao checkpoint because this checkpoint possesses the most potential in cargo transport volume ranking the first of the country. The route starts from Hat Yai and terminates at Sadao Custom Checkpoint area, and runs parallel to Thai-Malaysia natural gas pipeline. This route acquires less land and buildings, and is mostly agreed by the public. Phase 1 of this project would be prior implemented at the logistics hub at Sadao checkpoint by constructing expressway connection to the border covering 4.2 km. in length costing approximately Baht 3,470 million aiming to   เ�เน�วส�าย�ท�าง�ห�าด�ให�ญ�่-�ส�ะเ�ดา�เ�เล�ะพน้ื–ท�บ่ี �รกิ �าร�โล�จสิ ตกิ ส์ ������������������������� solve congestion problem. The construction of Phase 2 would be considered later by ex�te   nding the route to Hat Yai District which helps ease traffic flow from Hat Yai to Sadao, reduce accident and completely divert trucks out of existing road (Kanchanavanich road).   Bicycle Route in the Expressway Right-Of-Way Project In response to the Ministry of Transport’s policy to promote cycling as a part of daily life, EXAT has conducted development of bicycle network master plan in the expressway right-of-way under the principles; 1) to comply with daily trip, 2) enable to link other public transport and 3) to be safe, convenient and shady route under   the concept of “Bicycle Expressway”. The pilot project of the bicycle lane development is launched under the Chalong Rat Expressway starting from Ramindra to Ladprao Road covering approximately 8 km. in length. Surface of bicycle path is asphaltic concrete 4 m. width with a canal bridge, intersection crossing and cross road tunnel for u-turn. Service and facilitation area   is provided at the origin- destination points and significant connection point. SAtSrEaAteNgiEecsoannodmPicreCpoamramtiuonnistyfor the Entering into EXAT has conducted the study to assess its preparation to enter into ASEAN Economic Community (AEC). The result of the study demonstrates that EXAT has to accelerate itself for flexible operation, develop its operational potential and work pattern to enhance organizational efficiency as well as seek for alliances to enhance competitive potential in related business. Strategies are determined for such preparations as follows: 1) Development of operational efficiency strategy: by enhancing operational efficiency, developing human competency and improving organization structure in line with the main task defined as expressway management 2) Development of operational standards strategy: by creating standardized operation pattern especially in operation units including adopting knowledge management from employees’ past performance to be easily applied and up-to-date. 3) Organization Value-added strategy: by creating opportunities to expand commercial and functional scope of operation. 4) Encouragement of holistic management strategy: by reinforcing work integration and embedding organizational awareness for mutual operational value. ANNUAL REPORT 2014

71Research and Development of Expressway Service EXAT International Technical Cooperation RepresentativesoftheKingdomofBhutanvisitedEXAT’sIntelligence Transportation Center on November 22, 2013. EXAT in collaboration with Hanshin Expressway Company Limited launched the Fifth Technical Seminar of Ninja-tech Mega Elevated Road and Bridge Structure Maintenance Technique on August 27-28, 2014. The Ninja-tech technology was demonstrated for the first time in Thailand at Rama XI youth center, Rama XI bridge. This technology applied for inspection of large and high structure, which was difficult to access, was displayed to 250 persons comprising employees and interested parties from many governmental, private sectors and universities. On June 2, 2014 Mr.Tetsuo Hasegawa First Secretary and Mr. Takashi Kobayashi Second Secretary represented the Embassy of Japan in Thailand paid technical visit and met EXAT’s executives aiming to inquire information of radio frequencies in use in Thailand for those operated by other agencies including that of EXAT. Representatives From Metropolitan Expressway in Thailand, Mr.Hirochi Kojima and Mr.Toshiaki Chiba visited EXAT to exchanged an opinion with EXAT's Executive. on 11 June, 2014 Pride of Awards National Public Service Award of 2014 from Office of the Public Sector Development Commission: OPDC Special Prize on Creativity and Design from Thailand Inventors’ Day 2014 organized by Office of National Research Council of Thailand Prime Minister Road Safety Awards (2013) from 11th Thailand Road Safety Seminar: Road User Rights and Road Safety Standard Award-winning Prize on “Development and Integration of Intelligent Transportation System for Expressway under ITS Center”(2013) from 11th National Seminar on Road Safety “Thai People’s Rights and Road Safety Standard” Technical Research Award (2013) from 11th National Seminar on Road Safety “Thai People’s Rights and Road Safety Standard” ANNUAL REPORT 2014

72EXAT Performance on Corporate Social Responsibility SPoercfioarlmRaenspcoenosnibCiliotyrporate Expressway Authority of Thailand (EXAT)’s main mission is to alleviate traffic congestion problem by means of providing expressway service to Bangkok Metropolitan Region. The scope of service will be extended to other provinces responding to significant transportation strategy. It aims to accommodate trips and transportation considered the national infrastructure and to serve the entering into Asean Economic Community (AEC) as well. As the state-owned enterprise under the Ministry of Transport, EXAT is aware of its public service to enhance quality of life. Transportation network is, therefore, developed to enhance its efficiency and suf- ficiency that enables to resolve traffic problem. It includes ease flow of traffic and rapidity to the trip and transportation which is regarded direct corporate social responsibility. EXAT performs its corporate social responsibility (CSR) under the 5 years long term strategic mas- ter plan of corporate social responsibility (2011-2015). The Low Carbon Society (LCS)’s scenario is defined as its vision. Additionally, the CSR policy which was announced in 2012 has been put into practice for both CSR-in-process and CSR-after-process. Regardless of whether these performances are its major task or not, they are considered the reinforcement of mutual understanding resulting in public acceptance and contented society as a whole. CSR Award 2014 The objective of EXAT’s 2nd CSR report is to expose EXAT’s CSR performance to general public. It covers significant groups of stakeholders with reference to the Global Reporting Initiatives (GRI) G3.1 edition covering the outcome of economic, environmental and social performance of the whole organization. As a consequence, EXAT has been awarded the Sustainability Report Award 2014 for 2 consecutive years from the Office of the Securities and Exchange Commission (SEC), CSR Club, Thai Listed Companies Association and Thaipat Institute Thai Rural Reconstruction Movement under the Royal Patronage of His Majesty the King. AกรNกรวิจNวจิมUกมกAรL4ร4รRร88EมมPOก1กกกดดR.าิจาาิจาTรกกนรกนด2ารดค0รคาํรร1วาํรเดม4วนาเมาํนามินดเนมินรดกังบันนิจิรกังี้คผกบันจิ วริดี้ผกราชริดมมอรดรชบมบัา อตนดผบอคิดา สตวชนังาออคคมบสวมรตงัาับขอคมผอสมรดิงังับชขคกอผมอทบทิดงพตอี่ช.อกยอสทูใ บนังพคตกม.รอะขสบอังงวคนกมกทขาพรอด.งาํ ใเนกนปทินง งพบา.ปนรหใะนลมปกั าขงณอบงป2ก5รท5ะ7พม.าแ(ณCบSงเR2ป-5iน n5-27proปแcรบeะงsเภเsป)ทน 2 ประเภท

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75Annual Performance in Year 2014 EXAT Annual Performance in Year 2014 In 2014 Expressway Authority of Thailand (EXAT) under the Ministry of Transport determines to complete its mission so as to enhance efficiency on quality of expressway service, particularly in solving traffic problem in Bangkok Metropolitan Region. The said performance is based on good management, business potential and corporate social responsibility. At present, EXAT operated 7 expressways and 4 expressway links covering total length of 207.9 km., namely Chaloem Maha Nakhon Expressway 27.1 km., Si Rat Expressway 38.4 km., Chalong Rat Expressway (Ram Intra-At Narong and Ram Intra-Outer Bangkok Ring Road Expressway) 28.2 km., Burapha Withi Expressway 55 km., Udon Ratthaya Expressway 32.0 km., Bang Na-At Narong Expressway 4.7 km. and Kanchanaphisek Expressway (Bang Phli-Suksawat) 22.5 km. in length. It includes elevated road linking between the southern part of Suvarnabhumi Airport and Burapha Withi Expressway, expressway link between Kanchanaphisek Expressway (Bang Phli-Suksawat) and Burapha Withi Expressway, Chaloem Rajadamri 84th Birthday Anniversary of His Majesty the King (connection road between Kanchanaphisek Expressway (Bang Phli-Suksawat) and Industrial Ring Road) and other connection between Si Rat Expressway (Asoke-Sri Nakarin) and Chaturathit Road section C. Expressway Projects under Construction 1. Si Rat-Western Outer Bangkok Ring Road Expressway Project The elevated 6 lane expressway has been constructed in the right-of-way of existing south railway. The route starts from Kanchanaphisek Road near Mahasawat water treatment plant and aligns to north side of the south railway. Then, the route crosses the railway southwards in Rajapruek area, diverting northwards to avoid Bang Bumrue railway station, crossing the Chao Phraya River at Rama VI Bridge and terminating in Bang Sue area. It also links Si Rat Expressway in the north side of Mor Chit 2 bus terminal and becomes at-grade on Kamphaengpetch 2 Road. The total length covers 16.7 km. ANNUAL REPORT 2014

76EXAT Annual Performance in Year 2014 2. Rehabilitation for on-off ramp of Chaloem Maha Nakhon Expressway connecting old railway road at At Narong Interchange Project The objective of this project is to enhance efficiency of expressway network by rehabilitate on-off ramp of Chaloem Maha Nakhon Expressway and the old railway road at At Narong Interchange (opened to public on October 8, 2014). Future Expressway Project 1. Third Stage Expressway System Project, Northern Route, Section N1, N2 and N3 The objective of this project is to resolve traffic congestion problem in northern Bangkok covering total length of 40.90 km. composing of: - N1 Section starts from Western Outer Bangkok Ring Road at Bangyai, runs along Ratanathibet, Ngam Wongwan Road and terminates at Kasetsart Intersection. - N2 starts from Kasetsart Intersection, overlaps the median of Prasert Manukij Road (Kaset-Nawamin Road) and terminates on Nawamin Road. - N3 starts from Nawamin Road, passes Serithai and Ramkhamhaeng Road and connects Si Rat Expressway Sector D and Motorway No.7 on Sri Nakarin Road. 2. Rama III-Dao Kanong-Western Outer Bangkok Ring Road Expressway Project The objective of this project is to extend expressway network to efficiently serve the trip between outer and inner area of Bangkok. It helps relieve traffic congestion problem on Rama II Road and Chaloem Maha Nakhon Expressway, Bangkhlo-Dao Kanong Section, and is used as transportation route in case of natural disaster and emergency. The elevated 6 lane expressway will be constructed, starting from km.10+700 of Rama II Road in the Western Outer Bangkok Ring Road area, overlapping median of Rama II Road northeasterly to Dao Kanong Toll Plaza. Then, the route overlaps Chaloem Maha Nakhon Expressway and terminates in Rama III Road which is close to Bangkhlo Interchange by linking Chaloem Maha Nakhon Expressway and Si Rat Expressway. New 8 lane bridge crossing the Chao Phraya River will be constructed and align to the south of Rama IX Bridge. This route covers total length of 16.92 km. ANNUAL REPORT 2014

77Annual Performance in Year 2014 EXAT 3. Kathu-Patong Expressway Project, Phuket Province The objective of this project is to connect the trip from Kathu Sub-district to Patong beach in order to accommodate travel to local residents and promote tourism in Phuket Province. It aims to solve traffic problem and accident on the national highway No.4029 and enable to be used as evacuation route in case of natural disasters such as the earthquake and Tsunami. The elevated expressway will be constructed along with the tunnel in the middle of the route. The starting point of the route will link Principle City Plan Road, route A in the vicinity of Patong Sub-district. The elevated 4 lane expressway for each direction (2 vehicle lanes and 2 motorcycle lanes) will be constructed to cross Phisitkoranee Road until reaching Khao Nakkerd. The tunnel will be constructed to pass through Khao Narkkerd and the route will be elevated again until reaching the terminating point in Kathu Sub-district area at km.0+850 of the national highway No.4029. This route covers total length of 3.98 km. 4. Burapha Withi-Pattaya Expressway Project The objective of this project is to extend Burapha Withi Expressway network to the east and link Laem Chabang industrial estate and Port. It helps serve economic development and tourism of Pattaya City as well as used as travel and transportation route in case of natural disasters and emergency. Elevated 6 lane expressway will be constructed at the terminating point of Burapha Withi Expressway at Chonburi toll plaza, heading south along bypass road, aligning on the left side of Motorway No.7 (Bangkok-Chonburi), passing Sri Raja District and diverting to the right of the said motorway before entering Pattaya City. This route covers total length of 68.0km. 5. Udon Ratthaya-Ayudhaya Expressway Project The objective of this project is to extend Udon Ratthaya Expressway network to the central region and Ayudhaya Province and link Bang Sai Royal Folk Arts and Crafts Center. It is considered transportation and logistics route in case of natural disasters and emergency. Elevated 6 lane expressway will be constructed to link Udon Ratthaya Expressway at Bang Pa-In toll plaza, Bang Pa-In District heading north to Bang Sai, Bang Ban and terminating in the national highway No.32 at Bang Pa-Han District, Ayudhaya Province. This route covers total length of 41 km. 6. Chalong Rat-Sara Buri Expressway Project The objective of this project is to extend expressway network from Bangkok to Sara Buri Province and the northeast region. Elevated 6 lane expressway will be constructed to link Chalong Rat Expressway at Chatuchot toll plaza in the Eastern Outer Bangkok Ring Road area, heading northeasterly to highway No.305 (Rangsit-Nakhon Nayok Road), passing Nong Khae, Viharndaeng District and terminating in Sara Buri Province. This route covers total length of 63 km. 7. Expressway Project in Chiangmai Province The objective of this project is to formulate the master plan of expressway in Chiangmai province and prioritize each expressway route used as practical approach to solve traffic problem in Chiangmai province. 8. Expressway Project in Khonkaen Province The objective of this project is to formulate the master plan of expressway in Khonkaen province and prioritize each expressway route used as a practical approach to solve traffic problem in Khonkaen province. ANNUAL REPORT 2014

78EXAT Annual Performance in Year 2014 Electronic Toll Collection System EXAT has launched the electronic toll collection system by adopting Easy Pass in Chaloem Maha Nakhon, Chalong Rat, Kanchanaphisek (Bang Phli-Suksawat) and Burapha Withi Expressway, including in the elevated road at the southern part of the Suvarnabhumi Airport linking the Burapha Withi Expressway and the expressway link between Kanchanaphisek Expressway (Bang Phli-Suksawat) and Burapha Withi Expressway. Since the warrantee fee of Easy Pass was cancelled on July 14, 2012, application to Easy Pass usage has continually increased. In fiscal year 2014 there are additional 182,890 demands for Easy Pass usage resulting in the accumulation of 874,997 demands since this service was launched. Percentage of Easy Pass usage comparing to numbers of 4-wheeled-vehicles in urban and suburban area is 33.82 and 29.92 respectively (data dated September 30, 2014). At present, EXAT accommodates Easy Pass users by increasing more access of top-up service through external organizations, namely 5 different commercial banks via ATM, internet banking and mobile banking operated by Krungthai Bank Public Company Limited, Siam Commercial Bank Public Company Limited, Kasikornthai Bank Public Company Limited, Bangkok Bank Public Company Limited and TMB Bank Public Company Limited. In addition, easy top-up-service has been provided by 2 private companies, namely Counter Service Co.,Ltd. and Visa Card through convenience stores and Easy Top-up Co.,Ltd. respectively. Right-Of-Way Development In fiscal year 2014 EXAT develops 6 more areas for public utility covering total area of 7,919 square wah in the 80th Anniversary Birthday of Her Majesty the Queen Park and 100th Anniversary of Ministry of Transport, which increases from fiscal year 2013 as follows: Suksawat Toll Plaza 955 square wah Rama IX Bridge on Thonburi side 1,475 square wah Soi Sukhumvit 50 2,335 square wah Soi Sukhumvit 48/1 1,839 square wah Ratchadphisek Toll Plaza 937 square wah Asoke 2 Toll Plaza 418 square wah Additionally, EXAT in collaboration with the Ministry of Interior develops total expressway right-of-way areas of 4,800 square wah for OTOP Exposition and Distribution Center as follows: Silom Road 1,600 square wah U-turn area at the beginning of Ram Intra Road 3,200 square wah ANNUAL REPORT 2014

สรุปผลการเปดเผยขอ มลู / พ.ร.บ.ขอมลู ขา วสารฯ 79Annual Performance in Year 2014 EXAT การใหบริการเว็บไซตการทางพิเศษแหงประเทศไทย (www.exat.co.th) EXAT Website (www.exat.co.th) EXAThaspublicizedinformationandoverallachievement through www.exat.co.th. The information displayed in the website has been regularly improved and developed. Smart Interactive Map (SIMAP) and schematic map are provided to demonstrate traffic report system represented by colored line drawn on the map aiming to help check accuracy of data with intelligent traffic signs. Additionally, interested expressway users enable to learn the route from real time traffic information prior to their travels. Any complaint about the service can be givกeารnใหbบyรกิ aารcศcนู eยsบ sรiกิnาgรขtอ hมeลู ผูใ ชท างพิเศษ (EXA website page and E-mail aiming to facilitate expressway users การใหบรกิ ารasศenนูrdvยicบgeeรnกิ reeารcraขolmอpมmuลู beผlniใู cdชaทfotาiroงพninsเิ .qศuษir(yEXoAf TinศfCูนoยarบmllรกิ aCาtรeiขonอ nมtลู,eผrcใู )ชoท mางpพlิเaศษin(tEsXAaTnCadll Center) หมายเลขโท At present, additionalดcําเhนaนิ nงาnนeใหlsบรtกิoารpดuา นbขliอ cมiูลzขeา วiสnาfรoขrอmงกaารtiทoาnงพิเศษแหงประเทศไทย are provided through social meขdอ iมaลู เnกe่ียวtwกับoเสrนkทhาtงtกpาร:/จร/าfจaรcแeลbะสoภoาkพ.กcาoรจmรา.จรบนทางพิเศษสายต ศูนยบ รกิ ารขอมูลผใู ชท าEงxพpเิ ศreษss(wEXaAyT.TChaalillaCnendtear)nหdมhายttเpลรsับข:แ/โจท/งtเรหwศตัพiุฉtกุ tทเeฉ rนิ1./5cอ4oุบ3mตั ิเห/ตEุหxรaอื กtwารขeอbรmบั คaวาsมteชวrย.เหลือบนทางพิเศษ ดขอาํ เมนูลนิ เกงาี่ยนวใกหบั บ เสริกนาทราดงากนาขรอจรมาูลจขราVtแวhลiสesะiาrtสeรoภขrasอาrพtงeoกกaาtาhรvรeทeจาrwรaงาegพจbeริเศslบyiษtนe1แท2iหาn,ง4งcปพ0reร0เิ ศะavเษsทieสsศรsแโiาดtวลไcoยยมทะoกทrตใยsหาnัง้ารรค ttงปบัวioรnาแๆะมจutสชงhoาเวรeนยuอื่ งเงsหาwรlนลyอ eเือ.พงแbเIือ่รกnsียอผiนาํ tใูfนแชeisวลท .cยะาคaขงพวอlาิเเyศสมeนษสะอแaดแลrวนะ2กปะ0รพะ1รช4อามช,ทนโง้ั ดตยดิ ทตั่วาไมปผไลดกโ ดารยแเรก็วไ รับแจง เหตุฉุกเฉนิ /อุบตั ิเหตหุ รอื การขอรบั ความชวยเหลือบนทางพเิ ศซษ่งึ ไดใหบ ริการผานหมายเลขโทรศัพท 1543 ตลอด 24 ช่ัวโมง โดยในปงบ r EoXutAeTanCdacElolXnACdTietCinoantlleCorenรแโnดSวลetยมeะexกทใprrหา้ังr1vรeรค 5iปบัsวc4sราแ3weะมจpสaชงrาyเว oรน,ยvอ่ื งaเiงหาddรนลemอเอืsพงiแiเn่อืnรกiยีอfsผotนาํ ใูrrนแชamวลทtaiยะvาtคขงeioพวอaาnิเเศสมsssนษสeisะอแrtvดแลaiวนะcnกeปะceรcพะsoรชnoอาcfมชeeทนrmnโั้งดตienยดิ rgทgตteวั่าrnไมaปcผffไyลiด/cกโดารยแศแลูนเระยกม็วบไ ีจรขําิกเนารวรอื่นของผมรูใ ชลูอบผงรใู เิกชรทาียราเงนฉพลใเิี่ยหศวษเันปล(EนะX2A,T2ท0C9่ียalุตรlาิโCยดenยtเeรrว็) ไดป รบั ปรุงระบบก accident or any requireซm่งึ ไeดnใหt บofรกิaาssรiผstา aนnหcมeาtยhเrลoขuโgทhรศcัพoทop 1e5r4a3tioตnลอsoด a2s4tชoว่ั qโuมiงckโดlyยในปงบประมาณ 2557 accommodate and givศeนู aยsบsiรsกิtaารnขcอeมtลูoผeูใชxทprาeงsพsเิwศaษy(EuXseArTs Caanldl Cgeneterar)lไpดuปbรlบัicป.รIุงtระบบการใหบรกิ ารเพ่อื ใหม ีประสิทธิภาพ also obtains complaintแsลaะnมdจี ําrนeวcนoผmูใ ชmบeรnิกdาaรtเiฉoลn่ียsวaนั sละw2e,l2l 0a9s รfoายllow up response to any complaint as soon as possible throughout 24 hours. In fiscal year 2014 EXAT Call Center improves the servicing system for efficient use and there are averagely 2,209 customers accessing such service. ระบบเครือขายอินทราเน็ต กทพ. ระบบเสียงตามสาย กทพ. (EXAT SOUND) ระบบปายดิจิตอล กทพ. (EXAT DIGITAL SIGNAGE) และจอเผยแพรขอมูลขาวสารระบบสัมผัส Multi-Touch Systems (I-Touch) การทางพิเศษแหงประเทศไทย (กทพ.) มีชองทางการเผยแพรขอมูลขาวสารภายในหนวยงานผานทางระบบเสียงตามสาย กทพ. (EXAT SOUND) ระบบปายดจิ ิตอล กทพ. (EXAT DIGITAL SIGNAGE) และจอเผยแพรขอมูลขาวสารระบบสัมผัส (Multi-Touch Systems : I-TouAcNNhU)AL REPORT 2014

ท่ีเปนประโยชนตอการปฏิบัติงาน อันจะเปนการพัฒนาการเรียนรูและทักษะใหแกบุคลากร 80(รTวwมถoึงWกาaรyสรECาoXงmบAรmTรยuาnกicาaศtทioี่ดnีใ)นเกอาื้อAรปnทnราํ uะงaโายlนPชeตนrลตfoออrดmกจาaนรnพเcปัฒeนนiสnา่ือYบกeุคลaลาrาง2กใ0นร1แก4ลาระสหื่อนสวายรงแาบนบ 2 ทาง EXAT Intranet, EXAT Sound, EXAT Digital Signage and Multi-Touch System (I-Touch) EXAT publicizes information internally through EXAT Sound, EXAT digital signage and multi-touch systems: I-Touch in form of slides, video, graphic displays, texts and notifications which is useful to work performance. It also helps improve learning and skill of personnel, create positive work environment and consider means of two way communication which is beneficial to personnel and organizational development as a whole. EXAT Public Information Center According to Article 7, 9 and 11 of the Official Information Act B.E.2550 (2007), EXAT Public Information Center was established to provide information service to general public and give lectures on knowledge of the said act. The said center is also served as observation site for governmental and state enterprise sectors. It is located in front of EXAT head office. The address is 2380 Phaholyothin Road, Senanikhom Sub-district, Chatuchak District, Bangkok 10900, Tel. 0 2940 1196, 0 2579 5380-9 Ext. 1138, Fax.No. 0 2940 1198. It is opened in office hours between 8.00-16.30 hrs. Regardless of the said office hours, the contact can be accessed through EXAT Call Center Hot Line 1543 throughout 24 hours (no exception of official holiday) or at the website www.exat.co.th. One Stop Service Center EXAT has launched the One Stop Service Center at Chatuchak office building. The service provided consists of Easy Pass top-up service, issuing tax invoice, collecting rental payment of right-of-way area utilization, selling purchasing document, checking land acquisition and providing general information about expressway. The counter service is also provided to the customers. ANNUAL REPORT 2014

81Annual Performance in Year 2014 EXAT Customer Relation Activities 1. The 1st Expressway Across the City of Year 2014 EXAT in collaboration with traffic radio station 91 launched the Mangrove Restoration Campaign at Pran Buri National Park, Prachuab Kirikhan Province during March 1-2, 2014, leading expressway users to participate in mangrove afforestation and visit the management of Chang Hua Mun Royal Initiative Project. 2. The 2nd Expressway across the city of Year 2014 EXAT in collaboration with traffic radio station 100 launched the visit to the Royal Initiative Project of Her Majesty the Queen in Ang Thong and Sing Buri Province during July 26-27, 2014, leading expressway users to participate in social activity of religious preservation and acquire knowledge from the project initiated by Her Majesty the Queen, namely Ban Yang Klang Model Farm, Si Buathong Royal Folk Arts and Crafts Center. Public Relations Activity 1. The 8th Project of Bikes for Thai Kids EXAT launched social activity, namely the 8th Project of Bikes for Thai Kids on June 16, 2014. EXAT delivered 420 bicycles to students located in 23 areas of Educational and Social Development Unit, Royal Project Foundation in Chiangmai, Chiangrai and Mae Hongson Province. Another 80 bicycles, stationery, sport equipment and free lunch have been contributed to Huay Pong, Baan Huay Muang schools and Huay Pong Royal Project Development Center, Wieng Pa Pao Sub-district, Chiangrai Province. ANNUAL REPORT 2014

82EXAT Annual Performance in Year 2014 2. Public Service Unit launched during the New Year and Songkran Festival 2014 Accordingtofacilitation,securityandsafetyplan,EXATincollaborationwithgovernmentalagenciesandalliance companies launched the public service unit through the New Year Festival 2014 during December 23, 2013 – January 2, 2014 in order to provide service and facilitate expressway users’ travel. Toll fee of Burapha Withi Expressway, elevated road at the southern part of the Suvarnabhumi Airport linking Burapha Withi Expressway and expressway link between Kanchanaphisek Expresssway and Burapha Withi Expressway was exempted during December 27, 2013- January 3, 2014 as a New Year gift . In addition, EXAT launched the public service unit through the Songkran Festival 2014 during April 10-16, 2014. Toll fee of Burapha Withi Expressway, elevated road at the southern part of the Suvarnabhumi Airport linking Burapha Withi Expressway and expressway link between Kanchanaphisek Expresssway and Burapha Withi Expressway was exempted during the said period. Check point service such as initial motor inspection, tire inflating, distilled water battery fill up and battery check was provided as well as the rest stop offering drinking water, coffee and cold water free of charge. Activities for Social and Public Benefit 1. Sharing Smiles with Kids surrounding Expressway 2014 EXAT organized “Sharing Smiles with Kids surrounding Expressway” on occasion of the National Children’s Day 2014 chaired by Mr. Aiyanat Tinapai, EXAT governor awarding the scholarship to students of Nongrahaeng School (Chomsaeng Prachanukul). Additionally, other supports were given such as improvement of playground, contribution of plastic toys playground and audio device as well as free lunch on January 10, 2014. 2. National Elderly Persons Day 2014 Mr. Aiyanat Tinapai, the Governor accompanied with executives, permanent and temporary employees made merits by offering lunch and four necessities of Buddhist monks to sick monks on the occasion of the National Elderly Persons Day 2014 on April 4, 2014 at the Priest Hospital. Additionally, EXAT organized recreational activity by catering and giving souvenirs to elderly persons as well as donating money for general maintenance cost to Elderly Person Welfare Development Center at Pathum Thani Province. ANNUAL REPORT 2014

83Annual Performance in Year 2014 EXAT 3. Expressway for the Youths EXAT organized the scholarship award event of “Expressway for the Youths 2014” on May 21, 2014. There were 30 scholarships divided into each of Baht 10,000 awarded to selected youths. The objective of which was to offer educational support to the youths in need whose schools were located close to the expressway right-of-way communities. It was also considered building up good relationship between EXAT and communities along expressway right-of-way. 4. Fighting the Cold Wind Project On December 17, 2014 Mr. Aiyanat Tinapai, EXAT Governor and executives handed 2,200 blankets derived from both purchasing and donation from the “Fighting the Cold Wind Project” to local residents whose trouble was caused by cold wind of the winter at Huay Yang and Thung Lui Lai Municipal District, Khonsarn District, Chaiyaphum Province. It included medical supplies sponsored by the Royal Thai Army Chemical Department, Ministry of Public Health and household medicine sponsored by Government Pharmaceutical Organization. 5. Magic Box Project EXATincollaborationwithAmpolFoodProcessingCo.,LtdmutuallysignedtheMemorandumofUnderstanding regarding participation in “3rd Magic Box Project” on March 24, 2014. It aimed at obtaining UHT cartons to transform such cartons into shiftboards, then assembling shiftboards into student desks and chairs and distributing to schools in need. 6. Dream-Weaving for Thai Kids Project EXAT launched “Dream-Weaving for Thai Kid Project” aiming to provide educational support to the youths in need located in other regions so as to obtain equal education. The scholarship would be awarded as well as computer devices and stationery to Lad Nga Vidhayakhom (Plang Ruekjaree), Lad Nga Pracha Bumrung and Raj Suphapradit Schools on June 23, 2014 at Lad Nga Municipal District Administration for Small Children Development Center, Sena District, Ayudhaya Province. ANNUAL REPORT 2014

84EXAT Adherence to the Official Information Act B.E.2540 (1997) Adherence to the Official Information Act B.E.2540 (1997) In year 2014 EXAT has performed its work under the Official Information Act B.E.2540 (1997) as follows: 1. Monitoring on performance pursuant to the Official Information Act B.E. 2540 1.1 Make an Announcement on organization structure and management, authority, procedures and contact venue for EXAT’s dissemination of information in 2012 which was promulgated in the Royal Government =-------Gazette Issue 129, Special Section 81 D dated May 16, 2012. The announcement assigned Information Division under the Office of the Governor effective from March 23, 2012. The job description of which is to serve as the focal point for EXAT information service that includes EXAT Call Center and EXAT Public Information Center so as to file information according to Article 9 of the Official Information Act B.E. 2540 (1997). It aims to provide general public access and cooperation to ensure any performance in line with the Official Information Act B.E. 2540 (1997). 1.2 Set as significant policy of the state agency by emphasizing on “Disclosure is the core, concealing is an exception.” since the Act came into forces. EXAT issued an announcement of policy on adherence to the Official Information Act B.E. 2540 (1997) dated April 24, 2012. 1.3 Establish EXAT Information Center (since December 3, 1998) under the Information Analysis and Dissemination Section, Information Division, Office of the Governor. EXAT Information Center is located in front of EXAT head office (Chatuchak), 2380 Phaholyothin Road, Senanikom Sub-district, Chatuchak District, Bangkok 10900 Telephone 0 2579 5380-9 Ext. 1138; Fax 0 2940 1198 on weekdays from 8.30-16.30 hrs. After office hours, contact EXAT Call Center No.1543 throughout 24 hours (7 days a wee=k)-.-F-o-r-m--o-r-e-information, contact via EXAT website: www.exat.co.th 1.4 Appoint Deputy Governor for Law and Land Acquisition to supervise any performance in compliance with the Official Information Act B.E. 2540 (1997) and appoint “EXAT Information Committee” chaired by Deputy Governor for Law and Land Acquisition composing of Division/Office Directors as committee member and Director of Information Division as committee member and secretary. The said committee is in charge of determining policy and measures, including giving recommendation on any performance in compliance with the Office Information Act B.E.2540 (1997) and the Regulations on Official Secret B.E.2544 (2001). 1.5 Arrange internal audit on public information service complying to principles of information technology disclosure and transparency which is considered one of the corporate governance approaches. The recommendations were given for better improvement of work. 1.6 Issue the Announcement on fee collection, request for copy or certified copy of EXAT information dated June 15, 2012. 1.7 Provide the Regulation on EXAT Information (2nd Issue) B.E.2555 (2012) dated June 15, 2012 ANNUAL REPORT 2014

85Adherence to the Official Information Act B.E.2540 (1997) EXAT ----------= 2. Recognition/Award 2.1 Selected as role model on public information service and performance following the Official Information Act B.E.2540 (1997); Ministry level on July 1, 1999. establishmen-t--o-f-P-u-b--lic-=Information pu2b.2li cAsweravridceedascerortlieficmaot=ed-e-sl-ho-o-nw--iit-ns-g-pearpfporremcaiantcieonfoollonwtihneg Center for general the Official Information Act B.E.2540 (1997) on January 15, 2008. 2.3 Obtained shield award of outstanding organization from Prime Minister (Mr. Abisit Vejjajiva) in good cooperation of Public Information Center establishment in fiscal year 2010 on February 4, 2011. 2.4 Obtained State Enterprise Excellence Award on the 2012 Operational Plan of EXAT Information Center following the Official Information Act B.E.2540 (1997) in the contest of Corporate Governance Promotion Plan for State Enterprise in Year 2012 organized by the Office of the National Anti-Corruption Commission (NACC). The shield of honor and 150,000 Baht in cash has been awarded by NACC Chairman on November 16, 2012. 2.5 Obtained shield of honor award as role model in establishment of Public Information Center in year 2012; Ministry Level awarded by Minister of Prime Minister’s Office (Mr. Varathep Ratanakorn) representing Prime Minister (Ms. Yingluck Shinawatra) as chairman of the Official Information Board on August 9, 2013. 3. Promotion and development of knowledge and understanding on principles, main point, benefit and courses of rights stipulated in the Official Information Act B.E.2540 (1997) 3.1 Attended annual seminar of the role model for establishment of information center; ministerial and provincial level on September 19, 2014 at Royal River Hotel, Bangkok organized by the Office of Official Information Commission under the Permanent Office of the Prime Minister’s Office. 3.2 Attended seminar for chiefs of government agencies and officials in charge of information centers under the Ministry of Transport conforming to the Memorandum of Understanding which depicted on cooperation network of governmental information center development. The said seminar was organized on May 30, 2014 at the Auditorium Conference Room, Building 2, 3rd floor, Thai Airways International Public Company Limited, head office, Vibhavadi Rangsit Road, Bangkok. 3.3 Invited continuously by external agencies to give lectures on the Official Information Act B.E.2540 (1997) since 1999. Mr.Pongsak Jumsai Na Ayudhya, Director of Information Division, has been assigned as a lecturer posted in the Office of the Permanent Secretary, the Prime Minister’s Office by lecturing on knowledge of the Official Information Act B.E.2540 (1997) to executives and employees of governmental/private sectors. In 2014 he has been invited as a lecturer by some organizations as listed below: l Secretarait of the House of Representatives l Department of Agriculture under the Ministry of Agriculture and Cooperatives l Market Organization under the Ministry of Interior ANNUAL REPORT 2014

86EXAT Adherence to the Official Information Act B.E.2540 (1997) 3.4 Requested by external organizations for observation of EXAT Public Information Center in 2014 as listed below: l Wastewater Management Authority under the Ministry of Natural Resources and Environment on March 26, 2014 during 10.00-12.00 hrs. l Metropolitan Electricity Authority on March 26, 2014 at 14.00 hrs. l Government Housing Bank on March 31, 2014 l Provincial Electricity Authority on May 16, 2014 l Office of the Secretary, Office of the Permanent Secretary for Defence on May 26, 2014 l Market Organization under the Ministry of Interior on July 16, 2014 l Office of the Ombudsman on July 23, 2014 l Botanical Garden Organization under the Ministry of Agriculture and Cooperatives on July 29, 2014 l Public Warehouse Organization under the Ministry of Commerce 3.5 Organized on-the-job training regarding the courses of knowledge on the Official Information Act B.E.2540 (1997) and the Regulations on Official Secret B.E.2544 (2001) for EXAT employees annually. It complied with the key indicator criteria on disclosure of official information. 3.6 Organized the course of knowledge on the Official Information Act B.E.2540 (1997) for new employees orientation twice as listed below: l 1st orientation organized on February 19, 2014 l 2nd orientation organized on September 3, 2014 3.7 Dispatched staff of EXAT Public Information Center to participate in examination project of knowledge and understanding on the Official Information Act B.E.2540 (1997) for government officials in 2014 (organized by the Office of the Official Information Commission) on April 25, 2014. On this occasion, Miss Supitcha Nuchmitr, General Administration Officer 5 and Mr. Pattrapol Pansuwan, General Administration Officer 4 of Information Analysis and Dissemination Section, Information Division, Office of the Governor succeeded in passing the said examination. 4. Provision of Service as requested by general public and responses to consultation In fiscal year 2014 there have been 98 people making request for information at EXAT Public Information Center (Year ended on September 30, 2014). Such information is regarded information according to Article 7, 8 and 11 of the Official Information Act B.E.2540 (1997). It is our attempt to improve retrieval system and document files, arrange pamphlets introducing EXAT Public Information Center, pose on public relations board and provide area of this service. Additionally, questionnaire of survey on customer’s satisfaction have been distributed for public opinion and adopted it for further consideration on information disclosure. ANNUAL REPORT 2014

Expressway Authority of Thailand

Auditor’s Report and Financial Statements Expressway Authority of Thailand For the years ending on September 30, 2014 Office of the Auditor-General

89Auditor's Report and Financial Statements EXAT Auditor’s Report Presented to the Board of Directors, Expressway Authority of Thailand The office of the Auditor General has audited financial statement as of September 30, 2014 showing profit and loss statement, capital changes statement and cash flow statement for the year ending on the same day of each year of the Expressway Authority of Thailand (EXAT) of which the management of EXAT is responsible for the accuracy and completeness of the information therein. The executive’s responsibility for financial statement The executive is responsible for preparation and presentation of these financial statements according to the standards of the financial reporting and is responsible for the internal control which executive considers that it is necessary for preparing financial statements preparation with clear evidence in contrary to the material facts. The auditor’s responsibility The Office of the Auditor General is responsible for the opinions on the financial statement as a result of the audit by the Office of the Auditor General. The Office of the Auditor General has performed the audit in accordance with the generally recognized auditing standard which stipulates that the Office of the Auditor General has to plan and perform the audit so as to bring about reasonable confidence in the results of the audit that the financial statement has displayed clear evidence in contrary to the material facts or not. The audit includes employing methods to get evidence about the amounts and information disclosures in the financial statements. The methods depends on auditor including the risk assessment of data which against the principle facts of the financial statements whether it due to fraud or error. In this risk assessment, the auditor considers internal control which relevant to the preparation and presentation of financial statements by the requirement of the company to design the methods that is appropriate to the situation but it is not for the suggestion on the effectiveness of internal control of the company. The audit also includes the appropriate assessment of accounting policies and the reasonable accounting estimates which made by experienced management, as well as the assessment of presentation in the overall financial statement. The Office of the Auditor General believes that such an audit would arrive at the conclusions with appropriate criteria in the expression of opinion by the Office of the Auditor General. Opinion The Office of the Auditor General opines that the abovementioned financial statement as of September 30, 2014, performance and cash flow ending on the same day of each year of the Expressway Authority of Thailand were accurate in accordance with the generally accepted accounting principles. Information and emphasized incident Without expressing the opinion with condition in the matter to be stated next, the Office of the Audit General would like to draw attention to the note to the financial statement, item 4.24 on the liabilities that may arise by September 30, 2014 as the Expressway Authority of Thailand has liabilities that may arise from being sued totaling 23 cases amounted to baht 42,198.14 million. (Mrs. Rungnapa Charoenkunwiwat) Financial Audit Office 4 Director Office of the Auditor General (Mrs. Pawanrat Veluvasna) December 12, 2014 Group Director ANNUAL REPORT 2014

90EXAT Financial Statement Financial Statement Balance Sheet as of September 30, 2014 Remark 2014 Unit : Baht 2013 Assets 4.1 6,740,064,676.76 Current Assets 4.2 12,848,194.74 5,416,138,131.40 4.6 13,493,118.75 Cash and cash equivalents 1,200,000,000.00 Contemporary investments 4.3 61,801,699.55 1,200,000,000.00 Receivables from the Joint 4.4 61,134,038.94 Investment Company due within one year Other receivables 2,211,866,698.49 41,033,379.17 Receivable budget 4.5 35,063,436.97 45,016,818.32 Other current assets 4.6 4.7 10,261,644,706.51 6,776,815,486.58 Total current assets 4.8 Non-current Assets 4.9 126,487,988.68 121,487,988.68 3,481,441,461.11 4,120,908,127.78 Fixed deposits with obligations 168,480,501,278.44 169,300,037,658.50 Receivables from joint venture 1,499,611,794.10 1,312,642,963.15 Property, plant and equipment - Net 111,326,021.20 Construction in process 63,020,451.40 Deferred charges for engineering 240,233.00 240,233.00 Administration Other non-current assets 174,966,642,992.31 173,651,303,206.73 181,743,458,478.89 Total non-current assets 183,912,947,913.24 Total Assets The accompanying notes are an integral part of the financial statements. ANNUAL REPORT 2014

91Financial Statement EXAT Balance Sheet as of September 30, 2014 Remark 2014 Unit : Baht 2013 Debts and Capital Portion 4.10 1,496,940,046.22 4.11 9,200,000,000.00 1,532,874,625.67 Current liabilities 8,480,000,000.00 Trade and payables 69,969,444.16 Long-term liabilities due within one year 970,320,653.51 53,566,160.62 Retention guarantees 4.12 224,195,431.72 764,211,683.49 Unearned revenue 11,961,425,575.61 242,032,857.15 Other current liabilities 11,072,685,326.93 Total current liabilities 4.13 16,178,898,157.36 4.14 33,650,000,000.00 16,378,898,157.36 Non-current liabilities 4.15 150,000,000.00 39,550,000,000.00 Government Loans 4.16 14,513,677,432.08 4.17 799,257,134.18 650,000,000.00 EXAT bonds 4.18 13,684,516.29 11,375,708,739.31 Long-term loans 1,014,628.32 758,235,998.70 65,306,531,868.23 13,876,522.77 Deferred income 77,267,957,443.84 1,014,628.32 68,727,734,046.46 Employee benetit obligations 76,990,314,520.31 79,800,419,373.39 Welfare fund 29,654,675,949.09 76,990,314,520.31 Other non-current liabilities 106,644,990,469.40 24,952,724,585.19 Total non-current liabilities 183,912,947,913.24 101,943,039,105.50 181,743,458,478.89 Total liabilities Equity Capital Accumulative profit : Deferred Appropriation Total equity Total liabilities and equity The accompanying notes are an integral part of the financial statements. (Mr. Panya Chaiyanont) (Mr. Aiyanat Tinapai) Director of Treasury and Accounting Department Governor of Expressway Authority of Thailand ANNUAL REPORT 2014

92EXAT Financial Statement Statement of Comprehensive Income For the years ended September 30, 2014 Unit : Baht 2013 Revenues Remark 2014 Toll revenue 4.19 12,434,388,744.94 13,203,386,140.79 42,886,074.43 Interest subsidies revenue and fee shouldered by Government 4.20 6,078,827.40 2,081,518,986.27 Other revenues 2,163,537,765.67 14,558,793,805.64 Total revenue 15,373,002,733.86 Expenses 4,522,209,254.92 Service cost 4,654,167,845.57 126,305,359.25 116,587,705.84 1,079,814,978.53 Selling expenses 1,099,475,256.96 42,886,074.43 5,771,215,667.13 Administrative expenses 6,078,827.40 8,787,578,138.51 5,876,309,635.77 2,198,483,728.75 Paid interest and fee shouldered by Government 9,496,693,098.09 6,589,094,409.76 Total Expenses 1,941,183,750.07 Profit before finance costs 7,555,509,348.02 - 6,589,094,409.76 Financial cost - Profit for the year 7,555,509,348.02 Other comprehensive income Total comprehensive income The accompanying notes are an integral part of the financial statements. ANNUAL REPORT 2014

93Financial Statement EXAT Statement of changes in equity For the years ended September 30, 2014 Unit : Baht Total Balance as at 1 October 2012 Capital Non-appropriated 95,532,289,168.83 Balance of the adjustment of Capital gain 74,625,314,520.31 20,906,974,648.52 Remittance to the state in 2012 (2,543,344,473.09) - (2,543,344,473.09) 2,365,000,000.00 (Capital from government Comprehensive) 6,589,094,409.76 2,365,000,000.00 - 101,943,039,105.50 Income-revised Balance at 30th September 2013 - 6,589,094,409.76 101,943,039,105.50 76,990,314,520.31 24,952,724,585.19 (2,853,557,984.12) Balance as at 1 October 2013 76,990,314,520.31 24,952,724,585.19 7,555,509,348.02 106,644,990,469.40 Balance of the adjustment of capital gain - (2,853,557,984.12) Remittance to the state in 2013 - 7,555,509,348.02 76,990,314,520.31 29,654,675,949.09 Income-revised Balance at 30th September 2014 The accompanying notes are integral part of the financial statements. ANNUAL REPORT 2014

94EXAT Financial Statement Statement of Cash Flow for the years ended September 30, 2014 2014 Unit : Baht 2013 Cash flow from operating activities 7,555,509,348.02 Net profit 6,589,094,409.76 Adjustments to reconcile profit to net cash (1,190,390,876.16) provided by (paid from) from operating activities: (3,482,854.08) (1,190,390,876.16) Recognition of revenue from joint investment (8,457,576.99) (1,937,669.79) Recognition of revenue from donation (93,463,465.60) - Recognition of revenue from government grants (6,078,827.40) (78,438,685.16) Interest deposit revenue (1,591,987.83) (42,871,464.43) Interest subsidies revenue and fee shouldered by Government (13,116,394.68) Estimates of employee benefit profit 2,125,384,884.19 Depreciation 3,208.68 2,071,854,792.57 Loss from asset sale - Employee benefit expenses 116,484,126.89 Interest expenses 1,911,382,675.48 156,399,118.91 Profit from operations prior to changes in operating assets and liabilities 10,405,298,655.20 2,209,624,061.37 Adjustments in operating assets 9,700,217,292.39 Increase in other receivables (3,556,675.47) Decrease (increase) in other non-current assets 9,953,381.35 (2,574,304.92) Decrease in receivables from the Joint 639,466,666.67 954,954,761.66 Adjustments in operating liabilities 639,466,666.67 Increase (decrease) in payables (73,502,183.87) Increase (decrease) in accrued expenses 24,158,679.84 (137,091,958.08) Increase in advanced revenue 206,108,970.02 (11,743,137.56) Increase (decrease) in other current liabilities (22,339,221.42) 283,802,570.65 Increase (decrease) in retention guarantees 16,403,283.54 (103,996,215.26) Increase (decrease) in accrued welfare fund (68,379,863.12) Cash received from operations (192,006.48) Cash received for interest deposit 11,201,799,549.38 1,437,640.36 Cash received ‘for Interest subsidies revenue and fee shouldered 11,256,093,452.79 by Government 96,352,480.46 Cash paid for interest 12,679,449.99 76,943,958.14 Cash paid for employee benefit 195,237,759.21 Net cash flows from operating activities (1,973,633,890.65) (69,369,207.59) (2,327,503,722.49) (110,179,153.83) 9,267,828,381.59 9,090,592,293.82 The accompanying notes are an integral part of the financial statements. ANNUAL REPORT 2014

95Financial Statement EXAT Statement of Cash Flow for the years ended September 30, 2014 Unit : Baht 2013 Cash flows from investing activities 2014 Short-term investments decreased 2,598,991,047.56 Increase in over 3 month fixed deposits 644,924.01 (5,000,000.00) Investment in property, plant and equipment (5,000,000.00) Investment in construction in process (778,763,906.17) (1,896,791,789.66) Decrease (increase) charges for engineering administration (572,889,209.98) (425,212,029.19) (17,201,718.06) (43,952,373.34) Net cash flows from (used in) investing activities (1,373,209,910.20) 228,034,855.37 Cash flows from financing activities Cash received from Government loans - 1,590,804,000.00 Cash repayment on Government loans (100,000,000.00) (100,000,000.00) Cash received from loans 3,600,000,000.00 5,550,000,000.00 Cash repayment on loans (9,380,000,000.00) (13,670,804,000.00) Share capital issued 2,365,000,000.00 Proceeds from government grants. - Cash Remittance to the State 2,162,866,058.09 - (2,853,557,984.12) (2,543,344,473.09) Net cash flows used in financing activities (6,570,691,926.03) (6,808,344,473.09) Increase (decrease) in cash and cash equivalents - Net 1,323,926,545.36 2,510,282,676.10 Cash and cash equivalents at the beginning of the accounting period 5,416,138,131.40 2,905,855,455.30 Cash and cash equivalents at the end of the accounting period 6,740,064,676.76 5,416,138,131.40 The accompanying notes are an integral part of the financial statements. ANNUAL REPORT 2014

96EXAT Notes to The Finacial Statement Notes to The Financial Statement FOR THE YEARS ENDED SEPTEMBER 30, 2014 1. General information Expressway Authority of Thailand (EXAT) is a state enterprise under Thailand’s Ministry of Transport, established by the Announcement of the National Executive Council No.290, dated 27th November B.E. 2515, with a regula- tion adjustment made later by the promulgation of the Expressway Authority of Thailand Act B.E. 2550 on January 9, 2008. The office is located at No.2380, Phaholyothin Road, Senanikom Sub-district, Chatuchak District, Bangkok 10900. The objectives are: 1. To construct or provide the expressway by any means, as well as to maintain and preserve the expressway; 2. To do work or business relating to the expressway and any business which is in connection with, or for the benefit of, EXAT. 2. Basis for presentation of the financial statements 2.1 The financial statement of EXAT have been prepared in accordance with generally accepted accounting principles under the AccQ}lnting Act B.E. 2543, namely the accounting standards issued under the , ) Accounting Profession Act B.E. 2547, in which employee welfare fund transactions are fully consolidated. 2.2 Use of estimates To prepare financial statements in conformity with generally accepted accounting principles, the Executives need to make estimates and set assumptions, which affect the carrying amount of assets, liabilities, income and expenses reported in the financial statements. The estimates ar4d assumptions are based on historical experience and many factors that the Executives considered reasonable under given circumstances. Therefore, actual outcomes may differ from the estimates and assumptions. 2.3 Accounting framework and revised accounting standard The Federation of Accounting Professions issued the following new/ revised accounting standards and new financial reporting standards, which are effective for the accounting period beginning on or after January 1, 2014. - TAS 1 (revised 2012) Presentation of financial statements - TAS 7 (revised 2012) Statement of Cash Flow - TAS 12 (revised 2012) Income taxes - TAS 17 (revised 2012) Leases - TAS 18 (revised 2012) Revenue - TAS 19 (revised 2012) Employee Benefits - TAS 21 (revised 2012) The effects of changes in foreing currency exenange. - TAS 24 (revised 2012) Related party disclosures - TAS 28 (revised 2012) Investments in associates - TAS 31 (revised 2012) Interests in Joint Ventures - TAS 34 (revised 2012) Interim financial reporting - TAS 36 (revised 2012) Impairment ofassets - TAS 38 (revised 2012) Intangible assets ANNUAL REPORT 2014

97Notes to The Finacial Statement EXAT - TFR’S 2 (revised 2012) Share-based payments - TFRS 3 (revised 2012) Business Combinations - TFRS 5 (revised 2012) Non-current assets held for sale and discontinued Operations - TFRS 8 (revised 2012) Oper ating Segments - SIC 15 Operating leases - Incentives - SIC 27 Evaluating the Substance of Transactions in the Legal form - SIC 29 Service Concession Arrangements - SIC 32 Intangible Assets - Website costs - TFRIC 1 Changes in Existing Decommissioning, Restoration and Similar Liabilities - TFRIC 4 Determining whether and Arrangement contains a Lease - TFRIC 5 Rights to Interests arising from Decommissioning - TFRIC 7 Applying the Restatement Approach under TAS 29 Financial Reporting in Hyperinflationary Economics - TFRIC 10 Interim Financial Reporting and Impairment - TFRIC 12 Service Concession Arrangements - TFRIC 13 Customer Loyalty Programs - TFRIC 17 Distributions of Non-cash Assets to Owners - TFRIC 18 Transfers of Assets from Customers Effective for the accounting period beginning on or after January 1, 2016. - TFRS 4 Insur9tflce Cont ra cts Executives have assessed the effect of these standards and believe that they will not have any significant impact on the presented financial statements. 2.4 Accounting relating to grants from the Government Expressway Authority of Thailand complies with Accounting Standard No.20, RE : Accounting for grants from the Government and disclosure of data on assistance from the government, only the grants or some parts of the grants that the Expressway Authority of Thailand is entitled to receive, or to repay after this accounting standard is valid (on 1 October 2013), so there are grants from the government; some received parts are recorded as capital. The remaining parts are gradually recognized as income systematically. Using of accounting standard No.20 affected the financial statement of 2014 as follows : money to be received from the government is higher for 2,177.43 million Baht. Income waiting for recognizing of grants from the government is higher for 4,331.84 million Baht. Income from grants from the government is higher for 8.46 million Baht. 3. Summary of significant accounting policies 3.1 Cash and cash equivalents consist of cash in hand and at banks with original maturities of three months or less and without obligation. 3.2 Receivables from the Joint Venture represent cash that EXAT will receive from the Bangkok Expressway Public Company Limited (BECL), which is a joint venture from the 15th-30th years of contract for Si Rat Expressway Project. ANNUAL REPORT 2014

98EXAT Notes to The Finacial Statement 3.3 Materials are stated at cost determined by the weighted-average method. 3.4 Property, plant and equipment are stated at cost less accumulated depreciation and allowance for accumulated impairment loss. Depreciation is calculated on the straight-line basis to write off the cost of each asset to their residual values over the estimated useful lives, except for land which has indefinite useful life. The useful lives of the assets are as follows : Expressway 75 years Buildings and building improvement 5-40 years Toll collection and expressway equipment 10 years Electricity poles and fixings 25 years Office tools and engineering equipment 5 years Vehicles 5-15 years Building and their components are recognized separately, except for old buildings that have reached the end of their useful lives for accounting purposes. An asset and its accumulated depreciation are derecognized upon disposal, when any gain or loss arising upon disposal of the asset is included in the statements comprehensive income. 3.5 Intangible assets represent the cost for right to use computer software. The intangible assets are recognized at cost on the date of purchase or acquisition and amortized on a straight-line basis over the estimated useful lives of 5 years. 3.6 Deferred income 3.6.1 Deferred income from the joint venture is accounted for and recognized as liabilities together with assets from joint venture, and periodically recognized as income over the contract period. 3.6.2 Deferred income and assets from donation are recognized as income over their useful lives. 3.6.3 Revenue deferred government grants as income received from the government to pay for the construction, ownership of land and other specialty recorded as liabilities with assets and recognized as income over the useful life of the asset. 3.7 Employee benefit obligation The obligation and benefits are recognized and measured in the following manners: 3.7.1 Short-term employee benefits are recognized as expenses in the period in which the transaction occurs. 3.7.2 Other long-term employee benefit are estimated based on the actuarial technique using the projected until credit method and discounting benefit in order to determine the present value of the obligation. All costs related to benefits of current employees are recognized as liabilities in the statements of financial position and as expenses in the statements of comprehensive income. All actuarial gains and losses arising in the period are recognized immediately as income or expenses. 3.7.3 Post-employment benefits are estimated based on the actuarial technique using the projected unit credit method and discounting benefit in order to determine the present value of the obligation. All costs related to benefits of past and current employees are recognized as liabilities in the statements of financial position and as expenses in the statements of comprehensive income. All actuarial gains and losses arising in the period are recognized immediately as income or expenses. ANNUAL REPORT 2014

99Notes to The Finacial Statement EXAT 3.8 Welfare and provident funds EXAT has established the welfare fund to provide welfare to its employees upon termination of employment. EXAT contributes to the fund monthly at the rate of 10 percent of basic salary of employees who are member, which is recognized as expenses in the statements of comprehensive income. All transaction of the funds are included in EXAT’s financial statement, whereas income and expenses incurred are recognized as EXAT’s income and expenses. On October 1, 1996, EXAT and its employees jointly established “EXAT Employee Provident Fund” in accordance with the Provident Fund Act B.E.2530. EXAT contributes to the fund at the rate of 9, 10 and 11 percent of basic salary for members with working years of under 10, 10-20 and over 20 years respectively. 3.9 Revenue Recognition 3.9.1 Toll revenue is recognized upon the service being used. 3.9.2 Land use revenue represents cash that EXAT will receive from the Joint Venture Company in Si Rat Expressway Project, which is periodically recognized as income on the straight-line basis over the contract period. 3.9.3 Interest income is recognized on a time basis, taking into account the effective yield on the asset. 3.9.4 Donation income is recognized in the period in which the transaction occurs. 3.9.5 Revenue from government grants Recognized as income over the useful life of the expressway. 3.10 Government grants The government grants for interest and fee of the projects which the government supported are recorded as income and expenses based on accrual basis that shown in items of income and expense in the statement of comprehensive income. 3.11 Financial costs Financial costs comprise interest paid, front-end fee and other expenses from long-term loans. Interest paid on long-term loans for fixed assets under construction is recognized as capital work-in-progress. Interest paid on loans for work capital is recognized as expenses in period in which the transaction fully occurs. 3.12 Accounting for joint venture projects Assets from joint venture are recognized as assets, together with deferred income from the Joint venture Company. The assets are periodically depreciated over their useful lives, whereas the deferred income is periodically recognized over the contract period. 4. Additional information Unit : Million Baht 4.1 Cash and cash equivalents comprise 2014 2013 Cash 81.86 84.57 Bank Deposit 4,158.20 5,331.57 draft 2,500.00 - 6,740.06 5,416.14 Total Cash of Baht 81.86 million consists of Baht 18.41 million of cash in hand and Baht 63.45 million of toll fee, toll coupon fee and Easy Pass Top-up of September 30, 2014, to be deposited on the next bank working day. ANNUAL REPORT 2014