Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For Quarter 2/2020 09 - Refinery & Trading 14 - Marketing 16 - Power Plant 18 - Bio-based Products 20 - Natural Resources CONTENTS Executive Summary 03 Statement of Income 07 Business Performance 09 Statement of Financial Position 21 Statement of Cash Flows 23 Financial Ratios 24 Environment Management Accounting 26 3 Management Discussion and Analysis of Business Operation for Q2/2020 Bangchak Corporation Plc. | Ex...

sincerely, -signed- (Mr. Chaiwat Kovavisarach) President and Chief Executive Officer The Secretary to the Board of Directors Division Tel: 0 2335 4638 Fax: 0 2016 3982 Preliminary Information of the Employee

) Chief Financial Officer PACE Development Corporation Public Company Limited

. Arttavit Chalermsaphayakorn) Chief Financial Officer FINANCIAL PERFORMANCE Cash flow analysis

provided in April 2020. ………………………………………………………. Tamonwan Narintavanich (Chief Financial Officer)

Sincerely, -Piya Nguiakaramahawongse- (Piya Nguiakaramahawongse) Chief Financial Officer Central Retail Corporation Public Company Limited

Klongwathanakith (Pongsarn Klongwathanakith) Chief Financial Officer

financial institutions and (2) increased shareholder equity derived from the initial public offering. Please be informed accordingly, Yours sincerely, (Mrs. Yupaphan Ekasittikul) Chief Financial Officer

addition, the Group also has a net profit resulting to increase in unappropriated retained earnings. Please be informed accordingly, Yours sincerely, (Mr.Tanavijit Ankapipatchai) Director and Chief Financial

. Please be informed accordingly Your sincerely, (Prof.Dr.Chalerm Harnphanich) Chief Executive Officer