Management Discussion and Analysis of Business Operation for the 2nd quarter of 2017 Bangchak Corporation Plc. 1 | Bangchak Corporation Public Company Limited Management Discussion and Analysis of

compliance of the Notification of the Capital Market Supervisory Board No. TorChor. 12/2554 (2011) Re: Rules, Conditions and Procedures for the Acquisition of Securities for Business Takeovers (including the

Company Limited and its subsidiaries (“the Company”) reassessed its business structure to move towards Green Businesses targeting renewable energy and real estate business. To pursue its business strategy

.Revenues 1.1 Sales of Construction Supply 950.86 967.78 860.99 1.2 Revenue from Real Estate Business 226.36 263.75 71.12 1.3 Total Revenues 1,177.22 1,231.53 932.11 2.Gross Profit ( % of Revenues) 2.1 Sales

, as follows: (Unit: Million Baht) For the second quarter For the period of six months Company/business 2017 2016 Increase(decrease) 2017 2016 Increase(decrease) Producer and distributor of ready-to

transactions : No. Type of transaction Description Total Amount 1. Supporting normal business transaction without general trading conditions Expense item - Utility charges - Business consultancy fees

” 25 Branches from Total 119 Branches in order to Operate Medical Service Business for Healthcare and Esthetics under Trademark “Wuttisak” Attn. to: President The Stock Exchange of Thailand Refer to: 1

our 3 business categories as follows: - Aeroflex increased 11.57% - Aeroklas increased 4.92% - Eastern Polypack decreased 9.06% Revenue from sale of Eastern Polypack softens due to the slow recovery in

.Revenues 1.1 Sales of Construction Supply 860.99 933.38 1,044.70 1.2 Revenue from Real Estate Business 71.12 79.60 107.50 1.3 Total Revenues 932.11 1,012.98 1,152.20 2.Gross Profit ( % of Revenues) 2.1 Sales

Re: Risk Management to Prevent the Use of Securities Business for Money Laundering and Financing of Terrorism Reference is made to the Anti­Money Laundering Office (AMLO)’s amendment to the Anti-Money