Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For the quarter ended September 30th, 2019 Management Discussion and Analysis of Business Operation for Q3/2019 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 19 - Natural Resources Financial Position Statement of Cash Flows Statement Financial Ratios Environ...

persons under the Private Placement basis i.e. Mr. Jirasak in return for the first portion of the Sale Shares which the Company shall invest in (excluding the second portion); 5) To propose the

E_1 Legal_FA_2015_12_29-c A WWCCoorrppLL44..11hhiigg A Executive Summary 1 Management Discussion and Analysis For the Year Ended December 31, 2017 In 2017, Thai economic growth gained traction, buoyed by strong recoveries in tourism and exports. This growth momentum is expected to carry on into 2018, especially amid a brighter outlook in public and private investment. Nonetheless, the business sector remained challenged by new modes of competition in a broader marketplace amid the advancing digi...

15 percents and there is no newly issued share of in return of payment. However the company will report the transaction to the Stock Exchange of Thailand. Method Calculation Transaction Size (%) 1

1Q2018 1Q2017 4Q2017 Current ratio(x) 7.5 4.2 6.9 EBITDA to sales revenue(%) 4.6 7.3 7.4 Net profit to sales revenue(%) 1.4 3.4 4.8 Return on total assets(%) 3.0 7.2 3.8 Return on equity(%) 4.0 10.1 5.1

คดัเลือก บลจ. 2.1.2 กำรจดัใหมี้ fact sheet ส ำหรับคดัเลือก บลจ. 2.1.3 กำรก ำหนดนโยบำยกำรลงทุนท่ี บลจ. ตอ้งน ำเสนอและกำรใหค้ ำแนะน ำท่ีเหมำะสม 2.1.4 กำรจดัใหมี้ขอ้มูล industry composite return 2.2 การเลือก

Ratio(1) Gross profit / total sales and services revenue (%) 50.19% 51.67% Net profit / total sales and services revenue (%) 28.33% 30.55% Performance Ratio Return on Equity (ROE) (%) 10.71% 12.15% Return

return to profitability, PDI will:  Carefully screen its assets and sell those that are no longer useful. In doing so expenses will be reduced and cash will be generated to invest in new M&A targets

Return on equity (%) - trailing 28.7 53.0 28.7 53.0 Return on assets (%) - trailing 17.0 16.8 17.0 16.8 Other Ratios Total debt to equity (times) 0.3 2.0 0.3 2.0 As Fit Fast Firm project (cost saving

profit / total sales and services revenue (%) 45.11% 50.89% Net profit / total sales and services revenue (%) 25.18% 29.65% Performance Ratio Return on Equity (ROE) (%) 10.23% 10.82% Return on Assets (ROA