receiving dividends as the Credit Agreement specifies that the Company must obtain prior written consent from Link Capital I before any dividend distribution. 7) Opinion of the Board of Directors on the

2017 Bangchak Corporation Plc. Table of Contents 6 8 08 8 Refinery Business 12 Marketing Business 13 Green Power Business 15 Bio-Based Products Business 18 Exploration & Production Business 21 25 23

2017 Bangchak Corporation Plc. Table of Contents 7 9 09 8 Refinery Business 13 Marketing Business 14 Green Power Business 16 Bio-Based Products Business 18 Exploration & Production Business 22 26 24

specialization, type of products, customer market, target customer, and distribution of the Company are different than that of the Target. 2. The Company expects that the Transaction, through cooperation and

specialization, type of products, customer market, target customer, and distribution of the Company are different than that of the Target. 2. The Company expects that the Transaction, through cooperation and

, type of products, customer market, target customer, and distribution of the Company are different than that of the Target. 2. The Company expects that the Transaction, through cooperation and economies

for GPSC to grow with the company’s expertise in operating power and utility producing and distribution. Furthermore, GPSC relentlessly seeks for new investments in domestic and international arena with

, please contact Investor Relations Section of the Electricity Generating Public Company Limited at Tel: 662-998-5145-8 or Email: ir@egco.com Page 2 Management Discussion and Analysis 1. Power Industry and

รายได้ส่วนเพิ่มจากผลิตภัณฑ์รับจ้างจัดจ าหน่ายให้แก่บุคคลภายนอกทั้ง ผลิตภัณฑ์ในกลุ่มอุปโภคบริโภคทั่วไปและเครื่องดื่มแอลกอฮอล์ (3rd party products for distribution) รายได้จากการรับจ้างจัด จ าหน่ายขับ

as the rise of e-commerce and growing global supply chains, both of which limited the pricing power of domestic firms. As a result, Thailand’s nominal GDP increased by 6.3 percent, leveling at Baht