02f1d92c-16df-4180-a7c9-7fe7d7aca35c.pdf

(Translation)

TG. 07/060

May 16, 2016

Subject Submission of financial statements for the three-month period ended March 31, 2016

To President of the Stock Exchange of Thailand

Enclosed 1. Thai Airways International Public Company Limited and its subsidiaries' financial statements for the three-month period ended March 31, 2016

  1. Management's Discussion and Analysis (MD&A) for the three-month period ended March 31, 2016 of Thai Airways International Public Company Limited and its subsidiaries

  2. Report Summarizing Operating Results of the Company (F45-3)

Thai Airways International Public Company Limited is pleased to submit the Company's consolidated financial statements and its subsidiaries for the three month period ended March 31, 2016 which has been reviewed by the Office of the Auditor General of Thailand and also Management's Discussion and Analysis (MD&A) for the three-month period ended March 31, 2016. Details have been enclosed and can be summarized as follows:

In 2016, THAI entered the second phase of transformation plan "Strength building" by embarking on 4 main strategies: 1) uplifting revenue through all possible channels; 2) managing cost, cash and balance sheet management; 3) improving capabilities such as Network Management and Optimization, Fleet plan and Revenue management enhancement; 4) building service excellence in continuing from last year initiatives such as business class service upgrade.

In this quarter, THAI had total 95 active aircrafts, 9 less aircraft than the same period last year. With adjustment in flight frequencies and aircraft types to suit market demand caused more efficient aircraft utilization to increase from 10.7 hours last year to 11.5 hours this year. Production traffic (ASK) reduced only by 1.8% while passenger traffic (RPK) increased by 0.9%. Average cabin factor was 77.5% comparing to 75.4% last year with 5.92 million passengers carried representing a 5.3% increase from last year.

THAI and its subsidiaries' total revenue, the amount of THB 50, 183 million, decreased by THB 1,384 million(2.7%) when comparing to the same period last year due to the reduction of passenger and excess baggage revenue on the back of decreasing fuel surcharge as well as higher competition. However, the number of passenger carried was 5.3% higher than last year while total expenses of THB 43,003 million decreased by THB 4,149 million (8.8%) due to the fuel expenses, decreased by THB 3,637 million (25.1%), resulting from the falling jet fuel prices by 37.6%. Non-fuel expense decreased by THB 524 million (1.7%) from last year mainly from production decrease inco1junction with ongoing cost management.

2

THAI and its subsidiaries' financial performance showed an operating profit of THB 7,180 million, or THB 2,765 million (62.6%) increased from last year. Special items include THB 1 ,153 million maintenance provision expense for lease aircrafts, THB 174 million impairment loss of assets and aircraft, and THB 681 million loss on foreign currency exchange. Net profit for the period was THB 6,011 million. Profit attributable to owners of the parent amounted to THB 5,999 million with profit per share of THB 2.75, increased by THB 0.67(32.2%) from last year.

As of March 31, 2016, total assets were THB 303,761 million, an increase of THB 1,290 million (0.4%) from as at December 31, 2015 resulting from net cash from operation activites. Total liabilities totaled THB 265,295 million, which was a decrease of THB 4,250 million (1.6%) from as of December 31 , 2015. Shareholders' equity totaled

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Please be informed accordingly.

Yours faithfully,

Mr. Narongchai Wongthanavimok Executive Vice President

Finance and Accounting Department

Management Accounting Department 0-2545-4195

Thai Airways International pcl published this content on 16 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 16 May 2016 11:37:10 UTC.

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