liabilities 653.74 501.33 152.40 30.40% Shareholders’ equity Issued and paid-up 400.00 400.00 - 0.00% Premium on paid-up capital 305.53 305.53 - 0.00% Share surplus from business combination under common

Issued and paid-up 400.00 400.00 - 0.00% Premium on paid-up capital 305.53 305.53 - 0.00% Share surplus from business combination under common control 20.64 20.64 - 0.00% Retained earnings 78.27 78.02 0.25

305.53 305.53 - 0.00% Share surplus from business combination under common control 20.64 20.64 - 0.00% Retained earnings 124.67 80.98 43.69 53.95% Other component of equity 1.07 1.07 0.00 0.00% Total

Management Discussion & Analysis of Business Operation Bangchak Corporation Public Company Limited For the 2nd quarter ended June 30th, 2018 Management Discussion and Analysis of Business Operation

last year mainly attributed to increase in Disposal Asset Group classified as held for sales of Power Plants business unit in the amount of THB 149.44 million. After considering the certainty of disposal

305.53 - 0.00% Share surplus from business combination under common control 20.64 20.64 - 0.00% Retained earnings 79.52 78.26 1.26 1.61% Total parent’s equity 805.69 804.43 1.26 0.15% Non-controlling

paid-up capital 305.53 305.53 - 0.00% Share surplus from business combination under common control 20.64 20.64 - 0.00% Retained earnings 56.08 78.26 (22.18) (28.34%) Total parent’s equity 782.25 804.43

business), i.e., disposing ordinary shares of NU of 30,599,999 shares, equivalent to 90 percent of the total NU shares to Chirasak Chiyachantana Ph.D. Asso.Prof. at an approximate price of Baht 8.3824 per

short term to a long term contract, secure Back-to-Back agreement to avoid unnecessary surplus stock, and consider to export crude palm oil (CPOA) trading business for biodiesel and edible oil due to the

(net profit margin of 27.0%), an increase of 6.96mb or 9.9%. 1. Revenue Structure Table 2: The break down revenue by business entities. Type of Revenue Jan-Jun 2019 Jan-Jun 2020 Million Baht % Million