owners of the Company (1,911) (4,661) 59% 528 -462% (6,571) 742 -986% Earnings per share (Baht) (1.50) (3.49) 0.38 (5.02) 0.54 Note: 1/ EBITDA from Refinery Business of the Company, BCP Trading Pte. Ltd

PowerPoint Presentation Management Discussion and Analysis 3rd Quarter of 2020 Q3/2020 Q3/2020 and Recent Highlights In the third quarter of 2020, economic factors that affected company's results of operations include (i) natural gas price and coal price that continued to drop further from previous quarter resulting in lower costs of sales and increasing industrial customers sales margin in spite of the slightly decrease of the fuel adjustment charge (Ft) for the collection of September - Decemb...

effect. Normalized Net Income clearly reflects the company's true earnings from its normal operations. In Q2/2019, the company had a NNP of Baht 1,217 million. Normalized Net Income PAGE 9PAGE 9 MANAGEMENT

company's true earnings from its normal operations. To exclude the assessment of the fair value of net assets and allocation of business acquisition costs as well as the effects of accounting standards, in

other interest rates; (c) not specifying conditions for paying interest or returns based on other factors additionally. (3) being a securitization. Division 3 Trust instrument, disclosure of information

trust instrument has an impact on the benefits or returns of the invested capital of sukuk, the asset trustee shall send a copy of such additional amendment to the Thai Bond Market Association in a

and clarify the risks of losing returns or rights or investment money, in whole or in part. The aforesaid risk factors include only those likely to affect the Company, the group of companies or the

Quarter Change (%) 1/2018 4/2017 1/2017 4/2017 1/2017 Net profit * 9,005 8,496 8,305 6.0% 8.4% Earnings per share (Baht) 4.72 4.45 4.35 6.0% 8.4% Net interest margin 2.34% 2.31% 2.35% 0.03% (0.01)% Net fees

148.63 148.63 148.63 Total Revenue 2,963.84 2,917.86 1,410.83 Net Profit 315.10 305.90 154.30 Earnings Per Share (EPS) 0.53 0.51 0.26 Key Financial Ratios ROA (%) 22.05 21.20 n.a. ROE (%) 49.67 44.66 n.a

3.43 % 3.06 % 3.65 % 5.46 % Other Income 3.19 % 3.19 % 3.54 % 2.76 % Cash against Operating Profit 263.54 % 219.44 % 76.06 % 195.86 % Net Earnings 4.60 % 4.99 % 5.69 % 6.54 % Return on Equity 8.53 % 8.59