administrative expenses, EBITDA of Other Businesses in 4Q19 was Baht 318 million; increased by Baht 346 million and Baht 830 million for FY2019, increased by Baht 783 million due to the increase of other income

comparison million or with net pr 22.31%. Summary The Operatin venues : Revenues from services Other income Total rev penses : Cost of sales an Administrative expenses Total ex are of profit o associated com

. Decrease of corporate income tax payable THB 19 million 3. Decrease of Long-term borrowings from financial institutions THB 39 million 4. Increase of Non-current provisions for employee benefits THB 44

comparison million or net profit o Summary The Operatin venues : Revenues from services Other income Total rev penses : Cost of sales an Administrative expenses Total ex are of profit o associated com nance

Company’s other income were significantly less than the first 6-month period of 2019 the net profit of the first 6-month period of 2020 was relatively close to that of the first 6-month period of 2019. With

39 2.4% 42 2.1% Total liabilities 473 29.0% 742 37.6% Shareholders’ equity 1,158 71.0% 1,232 62.4% Total liabilities and equity 1,631 100.0% 1,974 100.0% Total liabilities were THB 742mn, increasing by

), decreased by 73% as compared to 3Q 2018 in of 397 million Baht, (2) other income including trademark and trade name fees of Dean & DeLuca of 71 million Baht (32% of total revenue); significantly increased by

comprehensive income (loss) attributable to owners of the parent Operating Profit (Loss) EBIT Net Profit (Loss) Total Comprehensive income for ther period 3 | MANAGEMENT DISCUSSION AND ANALYSIS FOR Q2-2020

Bangchak Corporation Plc. I 2 03 Table of Contents 06 08 21 24 26 28 Executive Statement Summary of Income Business Performance 8 - Refinery & Trading 13 - Marketing 15 - Power Plant 17 - Bio-based Products

continuingly increase of number of tourist arrivals increasing in 3Q19 shows a good sign even if the Baht currency continues appreciating. Unit: Baht million 3Q19 3Q18 Change 9M19 9M18 Change Hotel business 794