PG.1

Bumrungrad Hospital Public Company Limited

Investor Presentation

August 2012

PG.2

Disclaimer • The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or

the solicitation of an offer or invitation to purchase or subscribe for any securities of Bumrungrad Hospital Public Company Limited (the

"Company") in any jurisdiction nor should it or any part of it form the basis of, or be relied upon in connection with, any contract or

commitment whatsoever.

• This presentation is being communicated only to persons who have professional experience in matters relating to investments and/or

to persons to whom it is lawful to communicate it under the laws of applicable jurisdictions. Other persons should not rely or act upon

this presentation or any of its contents.

• Certain information and statements made in this presentation contain the Company's forward-looking statements. All forward-looking

statements are the Company's current expectation of future events and are subject to a number of factors that could cause actual

results to differ materially from those described in the forward-looking statements. Prospective investors should take care with respect

to such statements and should not place undue reliance on any such forward-looking statements.

• This presentation has been prepared by the Company solely for the use at this presentation. The information in this presentation has

not been independently verified. No representation, warranty, express or implied, is made as to, and no reliance should be placed on,

the fairness, accuracy, completeness or correctness of the information and opinions in this presentation. None of the Company, any of

its affiliates or any of their respective agents, advisors or representatives, shall have any liability (in negligence or otherwise) for any

loss or damage howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this

presentation. The information presented or contained in this presentation is current as of the date hereof and is subject to change

without notice and its accuracy is not guaranteed. None of the Company, any of its affiliates or any of their respective agents, advisors

or representatives, makes any undertaking to update any such information subsequent to the date hereof.

• This presentation should not be construed as legal, tax, investment or other advice. No part of this presentation shall be relied upon

directly or indirectly for any investment decision-making or for any other purposes. Prospective investors should undertake their own

assessment with regard to any investment and should obtain independent advice on any such investment’s suitability, inherent risks

and merits and any tax, legal and accounting implications which it may have for them.

• Certain data in this presentation were obtained from various external data sources, and none of the Company, any of its affiliates or

any of their respective agents, advisors or representatives have verified such data with independent sources. Accordingly, the Company

makes no representation as to the accuracy or completeness of those data, and such data involve risks and uncertainties and are

subject to change based on various factors.

PG.3

Agenda

Overview

Strategy

Operational Update

Financial Performance

Associated Companies

PG.4

Fact Sheet

•Established in 1980; listed on SET in 1989

Bumrungrad International Hospital

o Facilities

• One of the largest and most sophisticated private hospitals in South-East Asia

• 538 licensed inpatient beds and over 4,500 outpatient visit capacity per day

• Thailand’s leading tertiary medical center

o Accreditation

• 1st hospital in Asia to receive US JCI Accreditation, with additional certifications in disease specific categories

• 1st private hospital in Thailand with Thai Hospital Accreditation

o Patients

• Over one million patient episodes annually

• Over 460,000 international patient episodes annually from over 200 countries

o Services

• 35 Clinics centers

BHPCL, an early mover in medical tourism, is an international leader in combining clinical quality with customer service oriented patient care

As of 29 June, 2012

Bangkok Bank Pcl., 0.26% Sinsuptawee

AM, 8.66% Bangkok

Insurance Pcl. , 14.61%

Thai NVDR,

2.32%

Bangkok Dusit

Medical Services

Pcl., 23.88%

UOB Kay Hian

(HK) - Client

Account , 8.28%

Others, 41.99%

Shareholding Structure

PG.5

Realignment of the Corporate Structure

No active operation

Bumrungrad International Ltd.

(“BIL”)

Comprehensive wellness center specializing in preventive care

Vitallife Corporation Ltd.

31.5% 100.0%

Asia Global Research Co., Ltd.

51.0%

Bumrungrad Medical Center Ltd.

(“BMC”)

Clinical research

100.0%

Operates Bumrungrad International Hospital, Bangkok

Bumrungrad Hospital Public Company Limited

(“BHPCL”)

No active operation

• Divestment of all KH shares on 10 July 2012.

• BIL ceased its operating activity.

BIL Capital Reductions

PG.6

BH - Management Team

BH’s management team comprises individuals with extensive experience in healthcare management

K. Linda Lisahapanya Managing Director

Dr. Sinn Anuras Group Medical Director

Mr. Dennis Brown Corporate CEO

Mr. Mack Banner CEO

Bumrungrad International, Bangkok

Mr. Dennis Brown CEO

Bumrungrad International Ltd.

“ Vacant ” CEO

Asia Global Research Co., Ltd.

Mr. Anthony Tan CEO

Vitallife Corporation Ltd.

PG.7

Doctors & Nurses

• Leading medical staff provides first tier clinical quality and customer-oriented patient care

• 35 Clinics centers

• Over 1,200 experienced doctors, of which over 320 are US, UK or Australian Board certified

• Over 900 dedicated nurses

PG.8

Medical Tourism

Thailand • Skilled medical staff

• Affordable wage levels

• Warm and efficient service culture

• Focus on patient preferences with a “self-pay” market

• Significant general tourism activity with global appeal

• Regulations and attitudes supporting private healthcare

Bumrungrad International

• First tier medical staff

• Transparency for inquiries

and patient cost estimation

• Premium customer-focused

patient experience

• Expansive service

infrastructure with overseas

referral offices, translators

and other services

PG.9

Premium Inpatient Facilities

Customer-oriented patient service culture supported by hotel-like ambience in a warm and restful environment

PG.10

Expansive Outpatient Facilities

Ground Floor Lobby

Sky Lobby

Large scale outpatient facilities allow extensive variety of services with privacy, comfort and efficiency

Welcome Center New Clinics

PG.11

Overview

Strategy

Operational Update

Financial Performance

Associated Companies

Agenda

PG.12

Strategy

• Campus Expansion

• Doctor Recruitment

Bumrungrad International

Hospital

• Expand in our existing market segment – 2nd Campus

• Expand into a new market segment – 2nd Brand

Metro Bangkok

• Review of selective opportunities International

PG.13

Campus Expansion

• Move off campus into leased office space Back office

• Open 5 floors in Bumrungrad International Clinic

• Expand clinics in Bumrungrad International Hospital Clinics

• Add 44 ICU beds and 61 ward beds in Bumrungrad International Hospital building

• Expand ancillary services Inpatient

• Bought 7,965 sq. meters of land on Petchburi Road.

• Capability to construct 150 – 200 bed hospital

Bumrungrad International – 2nd

Campus

• Determine alternatives for employee housing

• Determine alternatives for office space

Acquire Additional Capacity

Est. Capital Investment (Million THB)

Y11 Y12 Y13 Y14 Y15 Y16 Y17 Total

643 892 1,811 625 514 2,234 120 6,839

PG.14

Overview

Strategy

Operational Update

Financial Performance

Associated Companies

Agenda

PG.15

Overall Volume Trend

Outpatient volumes increased in 2Q12

compared with 2Q11, primarily due to strong

growth in international markets. While

inpatient admissions for 2Q12 approximated

those of 2Q11, inpatient days increased due

to a longer average length of stay from

higher acuity cases.

81

64

88

77 83 80

88

70

83 80 87

80

0

50

100

1Q 2Q 3Q 4Q 1Q 2Q

2010 2011 2012

2.4%

Admissions

Average Admissions per Day

0.2% 4.9%

9.3%

2,759

2,313

2,889 2,759

2,837 2,877

3,030

2,460

2,837 2,877

2,971 3,007

0

500

1,000

1,500

2,000

2,500

3,000

3,500

1Q 2Q 3Q 4Q 1Q 2Q

2010 2011 2012

2.8% Visits

Average Visits per Day

4.9% 4.7% 10.8%

355

305

359

322 347 349

377

329 347 349

376 372

0

50

100

150

200

250

300

350

400

1Q 2Q 3Q 4Q 1Q 2Q

2010 2011 2012

14.4% 2.4%

ADC

Average Daily Census

4.9% 2.2%

24.4%

25.7%

8.4%

4.5%

0.3%

6.7%

PG.16

Revenue per unit of service reflects a 3.3% increase from the annual price adjustment. The remaining amount is revenue intensity or increased consumption:

OPD revenue intensity per visit

increased 5.7% in 2Q12.

IPD revenue intensity per admission increased 9.8% in 2Q12 from increased length of stay.

Revenue Intensity

5,671 5,538 5,465 5,737

5,976 5,993 6,012 5,983 5,976 5,993

6,471 6,534

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

1Q 2Q 3Q 4Q 1Q 2Q

2010 2011 2012

5.4%

Bt

Revenue per Visit

10.0% 4.3% 8.2% 8.3%

192,850

213,041

172,044 181,528

199,321 205,814 204,098

217,925

199,321 205,814

217,246 232,823

0

50,000

100,000

150,000

200,000

250,000

1Q 2Q 3Q 4Q 1Q 2Q

2010 2011 2012

3.4%

Bt

Revenue per Admission

18.6% 20.1% 9.0%

3.4%

9.0%

13.1%

PG.17

Volume Contribution by Nationality

Revenue Contribution by Nationality

International Breakdown

• For 2Q12, international revenue was up 17.3%

from 2Q11, primarily from revenue intensity.

• Top 5 revenue contribution countries (1H12)

45% 45% 45% 41% 47%

46%

55% 55% 55% 59% 53% 54%

0%

20%

40%

60%

80%

100%

1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

% o

f V

olu

me

International Thais

56%59%60% 63%61%61%

44%41%39% 39% 37%40%

0%

20%

40%

60%

80%

100%

1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

% o

f R

ev

en

ue

International Thais

UAE 9%

USA 6%

Myanmar 5%

Oman 5%

Kuwait 4%

PG.18

Revenue Breakdown

Inpatient vs. Outpatient (% of revenue) Method of Payment (% of revenue)

YTD Jun12

• Revenue contribution for outpatient and inpatient services mostly in line with historical amount.

• 2Q12 Revenue growth:

Outpatient revenue increased by 14.0% y-o-y

Inpatient revenue increased by 12.8% y-o-y

• Self-pay remains the primary method of payment

51% 51% 50% 49% 50% 51%

49%49% 49% 50% 51% 50%

0%

25%

50%

75%

100%

1Q11 2Q11 3Q11 4Q11 1Q12 2Q12

Outpatient

Inpatient

Corporate Contracts - Domestic

10% Corporate

Contracts - Intl 8%

Self-pay 70%

Insurance 12%

PG.19

Agenda

Overview

Strategy

Operational Update

Financial Performance

Associated Companies

PG.20

Operating Performance 2007-2011 Total Revenues

Profit

EBITDA

2,070 2,1552,259

2,450

2,819

0

500

1,000

1,500

2,000

2,500

3,000

3,500

2007 2008 2009 2010 2011

EB

ITD

A (

TH

B m

m)

8% CAGR

829

8,559

8,8829,338

10,05611,306

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

2007 2008 2009 2010 2011

To

tal R

even

ues (

TH

B m

m)

7% CAGR

458631,191

1,145

1,246

1,258

1,555

33

0

500

1,000

1,500

2,000

2007* 2008 2009 2010** 2011***

Pro

fit

(TH

B m

m)

8% CAGR

DILUTED EPS

1.29

1.37 1.44

1.521.790.56 0.07

0.04

0.0

0.5

1.0

1.5

2.0

2007 2008 2009 2010 2011

Dilu

ted

EP

S (

TH

B)

9% CAGR

* One-time profit of THB 458 million in 2007 was share of profit in investment in GCS Thailand,

netted off with impairment of hospital software system

** One-time loss of THB 63 million in 2010 was loss on the translation adjustment from the sale of

Asia Renal Care (ARC) Group

*** One-time profit of THB 33 million in 2011 was tax loss on sale of BMC THB 106 million offset

with loss on sale of AHI THB 24 million and loss on share repurchase THB 50 million

9,388

BH reported a one-time gain on share of profit in investment in CDE Trading (previously GCS

Thailand) in 2007 of THB 829 million, mainly from sale of GCS Thailand’s assets

1,603 1.85 1.83

1,321

1,588

1.45

Remark: The calculation of CAGR is excluding the extraordinary items. Remark: The calculation of CAGR is excluding the extraordinary items.

Remark: The calculation of CAGR is excluding the extraordinary items.

PG.21

Margins & Trend

Margins have been strong and relatively stable over time

Net Profit Margin Trend

12.5%13.9%13.3%13.3%

17.1%

0%

10%

20%

30%

2007* 2008 2009 2010 2011

*Net margin in 2007 includes the benefit of one-time non-operating items

EBITDA Margin Trend

25.0%24.4%24.2%24.2% 24.3%

0%

10%

20%

30%

2007 2008 2009 2010 2011

PG.22

1H12 Update

1,506

1,724

26.7% 26.6%

0%

10%

20%

30%

40%

1,350

1,400

1,450

1,500

1,550

1,600

1,650

1,700

1,750

1H11 1H12

EBITDA EBITDA Margin

Total Revenues

5,653

6,502

5,200

5,400

5,600

5,800

6,000

6,200

6,400

6,600

1H11 1H12

EBITDA

Net Profit

THB million THB million

As a result of the revenue growth and the statutory corporate income tax rate reduction, offset somewhat by additional expenses relative to the minimum wage adjustment, net profit increased by 42.5% in 1H12 from the same period in the prior year. Net profit margin improved from 13.4% in 1H11 to 16.4% in 1H12.

15.0% 14.4%

760

1,083

13.4%

16.4%

0

200

400

600

800

1,000

1,200

1H11 1H12 . .5%

10%

15%

20%

25%

30%

Net Profit Net Profit Margin

THB million 33.7%

42.5%

810

1,083

14.3%16.4%

0

200

400

600

800

1,000

1,200

1H11* 1H125%

10%

15%

20%

25%

30%

*Excluded an extraordinary item

PG.23

Leverage

0.6

0.4

1.3

0.8

0.70.6

0.00

0.50

1.00

1.50

2007 2008 2009 2010 2011 1H12

0.2

0.2

0.6

0.4

0.30.3

0.00

0.20

0.40

0.60

2007 2008 2009 2010 2011 1H12

x Interest Coverage

18.7 18.8

24.8

35.9

14.9 14.4

0

10

20

30

40

2007 2008 2009 2010 2011 1H12

x

Net Debt to EBITDA

x

Net Debt to Equity

x

*

•Interest expense related to the purchase of common shares of Bangkok Chain Hospital PCL

doing business as Kasemrad Hospital Group to calculate Interest coverage ratio was Baht 111

million based on remaining days after the transaction settled. Assuming this interest expense

was incurred for the full year, interest expense from this transaction would be Baht 140 million

and Interest coverage ratio would be 12.9x

• Net debt to EBITDA and Net debt to equity for 1H12 all improved from 2011. The improvements were the direct result of the strong operating results and cash collections, providing the significant increase in Cash and cash equivalents.

• Interest coverage ratio for 1H12 decreased slightly from 2011. If we assumed full year impact on interest expense from Kasemrad investment in 2011, interest coverage ratio improved from 12.9 in 2011 to 14.4 in 1H12.

PG.24

Dividend Payment

0.60

0.450.400.400.400.40

0.40 0.40 0.45 0.50

0.65

0.00

0.20

0.40

0.60

0.80

1.00

2007 2008 2009 2010 2011 2012

Final

Interim

Bt per share

49.0%50.0% 49.0% 49.8% 52.0% 50.6%

0%

20%

40%

60%

80%

2006 2007* 2008 2009 2010 2011

Margin have been strong and relatively stable, with recent improvement in EBITDA margin

0.80 0.80 0.90

0.85

* Net profit used to calculate the dividend payout ratio in 2007 is:

2007 net profit Baht 1,605 million

-share gain from GCS - Baht 829 million

-+ dividend received from GCS + Baht 418 million

= Net profit for dividend payment Baht 1,195 million

1.10

Dividend Payment

Payout Ratio

PG.25

Agenda

Overview

Strategy

Operational Update

Financial Performance

Associated Companies

PG.26

• KH Acquisition Date: 18 March 2011

• BH Invesment % : 24.99%

• BH recognized share of KH’s income in 1H12, following the investment in March 2011, is set out in the table below.

* The Company did not recognize the share of income of Baht 3.6 million from Kasemrad Hospital Group in 1Q11, as the acquisition occurred during the last few days of 1Q11

Kasemrad Hospital Group (KH)

(Unit: Thousand Baht) 1H12 1H11*

Share of income from KH 111,286 43,541

Depreciation for fixed assets revaluation (4,227) -

Share of income from KH -net 107,059 43,541

Consulting fee for KH loan - (4,141)

Interest expenses (82,633) (36,189)

Amortization of bond issuance cost (2,001) -

Decrease in corporate income tax 19,006 12,099

Net income/(loss) from KH 41,430 15,310

PG.27

• The KH shares were divested given the favorable market valuation which provided an opportunity for an attractive return and the potential to deploy capital for alternative uses.

• THB 4.564 billion in gross proceeds received from the share sale.

• Consolidated pretax gain on sale of THB 789.8 million after applicable transaction costs.

• Estimated Net Gain on sale (Equity Basis) of approximately THB 579 million.

• Cumulative Gross ROI was 31.4% & Annualized pretax IRR was 20.5%.

KH-Divestment

Results from KH-Divestment

Gross Sales Proceeds THB 4,564 million

Consolidated pretax gain THB 789.8 million

Estimated Net Gain on sale -Equity Basis THB 579 million

Cumulative Gross ROI 31.4%

Annualized pretax IRR 20.5%