of refinery business recorded a decrease in EBITDA of THB 762 million, with factors affecting operation as follow: 1. The Bangchak refinery averaged its production in Q1/2019 at 110. 12 KBD or 92

between major oil companies and sales of crude oil products Refinery and Trading business group performance in Q1/2018 comparing to Q1/2017 decreased by THB 947 million, with factors affecting operations as

PowerPoint Presentation Management Discussion and Analysis MD&A Q2/2020 THE INNOVATIVE POWER FLAGSHIP OF PTT GROUP 1 Q2/2020 and Recent Highlights In the second quarter of 2020, economic factors that

Gross Profit Margin was affected by two major factors: 1) A change in foreign currency exchange rates Table 1: Foreign currency exchange rates and sales in foreign currency 2) A higher cost of main raw

factors in the decrease was (1) reversal of provisions for decommissioning costs and (2) a decrease in short term borrowing from financial institutions. Shareholder Equity As of 31 December 2017, and 30

41.9 Mn or 3.6%. The main factors in the increase was (1) an increase in short term borrowing from financial institutions of THB 142.8 Mn and (2) increased trade and other current payables of THB 122.4

8.1%. The main factors in the decrease was (1) reversal of provisions for decommissioning costs and (2) a decrease in short term borrowing from financial institutions Shareholder Equity As of 31

between 2018 and 2017 of the refinery and trading business recorded a decrease in EBITDA of THB 3,667 million, with factors affecting operation as follow: 1. The Bangchak refinery averaged production at

-76.36% From revenues, cost of goods sold and expenses factors, company profit before income tax of year and 4tu quarter 2019 was 67.59 and 10.13 million baht decreased 58.57 and 369.17 percent and net

Margin was affected by two major factors: 1) a change in foreign currency rates Table 1: Foreign currency exchange rates and sales in foreign currency 2) a higher cost of main raw materials Table 2: Raw