Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For the quarter ended September 30th, 2019 Management Discussion and Analysis of Business Operation for Q3/2019 Bangchak Corporation Plc. I 2 03 Table of Contents 06 08 21 24 26 28 Executive Statement Summary of Income Business Performance 8 - Refinery & Trading 13 - Marketing 15 - Power Plant 17 - Bio-based Products 19 - Natural Resources Financial Position Statement of Cash Flows Statement Financial Ratios Environ...

December 31, 2018. The details are as follows: Unit: Million Baht Net cash received from operating activities 11,430 Net cash payment for investing activities (17,816) Net cash payment for financing

cash equivalents were 6,787 million Baht, increasing by 2,299 million Baht comparing to December 31, 2016. The details are as follows: Unit: Million Baht Net cash received from operating activities

the followings; • Net cash received from operating activities Baht 450 million consisting of cash inflow from sales and services, offsetting with cash outflow for expenses and income tax payment • Cash

the followings;  Net cash received from operating activities Baht 450 million consisting of cash inflow from sales and services, offsetting with cash outflow for expenses and income tax payment  Cash

currencies) from Baht 1,112 million as of 31 December 2018. Source of Funds The Company had net cash inflow of Baht 2,328 million consisting of the followings;  Net cash received from operating activities

was equal to December 31, 2018, resulted from the profit of THB 0 million in 1H/2019. Statement of Cash Flows The company had cash from operating activities of THB 660 million mainly from a decrease of

, 2019. Statement of Cash Flows The company had cash from operating activities of THB 111 million due to the net loss of THB 97 million, offsetting by the adjustment for non-cash items, a decrease of

) from Baht 1,112 million as of 31 December 2018. Source of Funds The Company had net cash inflow of Baht 2,052 million as follows: • Net cash received from operating activities Baht 232 million consisted

) from Baht 1,112 million as of 31 December 2018. Source of Funds The Company had net cash inflow of Baht 2,052 million as follows:  Net cash received from operating activities Baht 232 million consisted