Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For the 2nd quarter ended June 30th, 2019 Management Discussion and Analysis of Business Operation for Q2/2019

commenced after all conditions are completed. For more detail, see “Resolutions of the Board of Directors Meeting Regarding Connected Transaction on the Offer to Tender the Entire Ordinary Shares of CSL

meeting of securities holders. “Central securities depository” means any central securities depository under the law on securities and exchange; “Margin account” means an account of client’s loan for

; (4) any benefits accruing from the assets under (1) - (3), for example, right in dividend or interest or right to purchase newly issued shares and right to attend and to vote in a meeting of securities

Rules on Application for Waiver of Tender Offer for All securities of a Business by virtue of a Resolution of a Meeting 2 of Shareholders of the Business; (6) “tender offeror” means a person who makes a

connectivity and expanded services beyond basic broadband at home. In response, service providers have been proactive in meeting these demands by introducing higher-value and innovative offerings, targeting

effective revenue generation through new shopping malls, enhancement of existing malls, new mixed-use development projects, such as residential development, as well as efficient cost management. CPN currently

The Board of Directors’ Meeting No. 12/2018 of Master Ad Public Company Limited (the “Company”) held on November 23, 2018, has passed the resolutions for the following significant matters: 1. approved

2 PPAs with EGAT of which qualified for the PPA extension and replacement for another 25-year period according to the outcomes of the National Energy Policy Committee’s Meeting on 24 January 2019

accruing from the assets under (a) to (c), for example, right to dividend or interest, right to purchase capital increase shares and right to attend and vote at a meeting of securities holders, etc. (2