11,019 Net cash payment for investing activities (2,896) Net cash payment for financing activities (5,167) Loss from the effect of foreign exchange rate (657) Net increase in cash 2,299 - Net cash received

Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For the first quarter ended March 31st, 2019 Management Discussion and Analysis of Business Operation for Q1/2019 Bangchak Corporation Plc. I 2 03 Table of Contents 06 08 20 22 24 26 Executive Statement Summary of Income Business Performance 08 - Refinery & Trading 13 - Marketing 15 - Power Plant 17 - Bio-based Products 19 - Natural Resources Financial Position Statement of Cash Flows Statement Financial Ratios Envi...

flows from operating activities 180.02 250 248.17 -4.84 Net cash flows used in investment activities -57.63 -476.18 -355.10 119.01 Net cash flows from financing activities -54.64 109.16 269.99 -113.43 Net

subsidiaries had net cash used in operating activities of THB 1,421 million, net cash used in investing activities of THB 3,887 million, and net cash received from financing activities of THB 1,708 million. As a

subscriber KB is a subsidiary of KB Financial Group, a leading financial business group in South Korea. The main businesses of KB are operating credit card, financial services, financing and leasing businesses

Discussion and Analysis (MD&A) For Q3/2017 25 Table 6 : Condensed Statement of Cash Flow Unit : Million Baht Jan - Sep 2017 Cash flows from financing activities Finance costs paid (755) Repayment of

the financing cost of the Lender. Therefore, it is reasonable to increase the efficiency of capital management and reduce financial costs; including the risk of non- payment according to the transaction

% 21.0% 39.3% 40.3% 40.9% Dec'18 Sep'18 Dec'17 Million Baht Loans by Business Type * December 2018 September 2018 December 2017 Change (%) September 2018 December 2017 Manufacturing and commercial 819,481

. The most portion of them was public utilities and services at 22.3%, followed by manufacturing and commerce sector at 21.9% and financial intermediation sector at 21.1% of total loans. Big Corporate

will be from selling tickets and the sponsors supporting the concert. 7. Processing, manufacturing and selling of products from Hinoki wood Demeter Innovation Company Limited (“D Innovation”) which is a