established limit. However, the execution results of bond switching did not significantly impact government bond yields which had been moving on a downward trend in this quarter. To cope with domestic and

E_1 Legal_FA_2015_12_29-c A brWCorpL.1hig A Executive Summary Management Discussion and Analysis For the Quarter Ended March 31, 2018 In the first quarter of 2018, Thai economic growth gained traction, buoyed by both domestic and international factors. However, the business sector faced rising challenges, namely various forms of competition, a borderless marketplace within the ASEAN Economic Community (AEC), and the advancing digital age amid the rapid pace of technological advancement, thus lea...

) (282) -31% Net profit attributable to owners of the parent 620 370 68% (1,546) 140% 1,732 2,463 -30% Basic earnings per share (Baht) 0.38 0.27 (1.12) 1.18 1.79 Note: 1/ EBITDA from Refinery Business of

-665% Owners of parent (1,911) (4,661) 528 (6,571) 742 Non-controlling interests 185 345 147 530 328 Basic earnings (loss) per share (Baht) (1.50) (3.49) 0.38 (5.02) 0.54 The Company and its subsidiaries

1,366.11 +5.37% Cost of Sales and Services 1,251.00 1,139.66 +9.77% Selling and Administrative Expenses 103.61 100.96 +2.62% EBIT 84.88 125.50 -32.36% Net Profit 70.56 104.37 -32.39% Basic Earnings per Share

-53.56% Basic Earnings per Share 0.35 0.25 (0.002) 0.23 1.79 0.83 -53.56% Performance Report Issue of trade war between the United States and China affected the overall global economy as well as the

1,288.89 5.99% Cost of Sales and Services 1,139.66 1,009.86 12.85% Selling and Administrative Expenses 100.96 89.66 12.60% EBIT 125.50 189.37 -33.73% Net Profit 104.37 154.69 -32.53% Basic Earnings per Share

Revenues 1,390.26 1,437.30 -3.27% Cost of Sales and Services 1,224.50 1,210.20 1.18% Selling and Administrative Expenses 104.66 97.22 7.66% EBIT 61.10 129.88 -52.96% Net Profit 50.78 105.55 -51.89% Basic

-103.50% Net Profit (0.34) 77.02 -100.43% Basic Earnings per Share (Baht) (0.002) 0.39 -100.43% Overall, in Q3/FY2019, the Company had net loss around 0.34 million baht, decreased around 77.35 million baht

1,126.21 7.46% Selling and Administrative Expenses 97.22 94.78 2.57% EBIT 129.88 123.29 5.35% Net Profit 105.55 102.52 2.96% Basic Earnings per Share (Baht) 0.53 0.51 2.96% Financial Status As at March 31