notable improvement of the performance in terms of revenue and cost-saving compared to last quarter. However, Overall performance on a year-over-year basis was affected by the change in structure of revenue

2017 Bangchak Corporation Plc. Table of Contents 6 8 08 8 Refinery Business 12 Marketing Business 13 Green Power Business 15 Bio-Based Products Business 18 Exploration & Production Business 21 25 23

calculated based on and consideration of the effect, in proportion of shareholdings, to the shareholders on offering the newly issued shares to the existing shareholders) (which equivalent to THB 1.16 per

Katipagdeetham Independent Director and Member of the Audit Committee 9. Assoc. Prof. Dr.Chiraphol Chiyachantana Director and Secretary 3. Approved of the change of the authorized signatories of the Company

million and the selling expense to revenue from main business ratio is at the rate of 1%. There is no significant change of selling expense from those of the prior year. Administrative expenses In 3Q17, the

Developments) Limited. The joint venture (51:49) led to a change in accounting treatment on this project, from previously Consolidation to Equity Method. This activity was resulting in a decrease in Cost of

ช่วงเวลาเดียวกันของปีที่ ผ่านมา Total Apparent Finished Steel (Unit : Tons) Quarter 3/2016 Quarter 3/2017 % Change Production 1,531,203 1,696,674 10.81% Import 3,242,891 2,843,598 -12.31% Export 329,192

:49) led to a change in accounting treatment on this project, from previously Consolidation to Equity Method. This activity was resulting in a decrease in Cost of property development and an increase in

significant change in income tax expenses and income tax expenses to revenue from main business ratio from those of the prior year and it is in line with the reduction of profit. Financial position Assets Unit

expected from the mandate change. 1.2 Revenues from sales of by-products to total revenue for the year of 2017 and 2016 were 4.70% and 1.53% respectively. The revenue from by-products in the year of 2017 has