Management Discussion & Analysis of Business Operation Bangchak Corporation Public Company Limited For the first quarter ended March 31st, 2018 Management Discussion and Analysis of Business

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

decreased from the same period of the previous year in the amount of THB 600 million or decreased of 42.0 percent. Due to the airline shutdown operation and the temporary closure of restaurant and shop stores

solar power plant project in Myanmar (Green Earth Power (Thailand) Co.,Ltd.) increased and not yet been started the commercial operation. However this project is expected to be started the commercial

function relating to trustee services, trustee operation, oversight of trustee operation or other similar business functions; (b) Business function relating to securities services, securities operation

147) | - |- Decrease in Registered Capital (Section 98(1)) | - |- Fees (Section 14, 19) |- Business Conduct | - |- Guideline on the commencement for operation of securities / derivatives business

1 NO. NCH 024/2562 July 11, 2019 Subject : Notice of setting up a new subsidiary under joint venture agreement to cover intermediate care and wellness business Attn. : Director and Manager The Stock

OPERATION (Unit : Million Baht) Consolidated Financial Statements 2019 2018 % Change Total Revenue 1,857.2 1,708.3 8.7% - Utilities Business 1,847.1 1,705.1 8.3% - Operating Revenue1 1,734.3 1,679.7 3.3

Board No. Tor Thor. 60/2561 Re: Rules, Conditions and Procedures for Outsourcing Function related to Business Operation to Third Party dated 1 October 2018 specifies that [ in case of outsourcing to a

. Tor Thor. 60/2561 Re: Rules, Conditions and Procedures for Outsourcing Function related to Business Operation to Third Party dated 1 October 2018 specifies that [in case of outsourcing to a foreign