29 Executive Statement Summary of Income Business Performance 8 - Refinery & Trading 13 - Marketing 15 - Power Plant 17 - Bio-based Products 20 - Natural Resources Financial Position Statement of Cash

Corporation Plc. Management Discussion & Analysis of Business Operation For Quarter 1/2020 11 - Refinery & Trading 16 - Marketing 19 - Power Plant 21 - Bio-based Products 23 - Natural Resources CONTENTS

and Exchange Commission, Thailand (SEC)* 3. Office of Natural Resources and Environmental Policy and... https://www.sec.or.th/TH/Documents/LawsandRegulations/ResourceCenter

of Forestry, the Ministry of Natural Resources and Environment, the Geo-Informatics and Space Technology Development Agency (Public Organization) and Thailand Greenhouse Gas Management Public

Page 1 of 6 Performance Overview In 3Q17 Singha Estate Public Company Limited (“the Company” or “Singha Estate”) reported a total revenue growth of 82% YoY, mainly from higher contribution from

;  Type 3 telecommunication business annual license fee  Spectrum administrative fee  Telecommunication numbering fee  Revenue contribution to Broadcasting and Telecommunication Research and Development

& Trading Business Group 12 Marketing Business Group 14 Power Plant Business Group 16 Bio-Based Products Business Group 18 Natural Resources Business Group 20 Statement of Financial Position 22 Cash Flows

contribution for the year amounted to THB 437mn and (iii) an increase of 36.7% YoY or THB 156mn of other revenue to THB 580mn. Total consolidated expenses amounted to THB 6,683mn in 2018, an increase of 40.3

because more contribution from subsidiary’s profit as the Company’s stake has increased to 98.31% from 53.93% in 1Q’18. Page 3 of 4 The consolidated profit before non-controlling interest in year 2018

of investments Total revenue grew by 8.83% year-on-year, driven by higher sales from the automotive parts segment and sale contribution of AAPICO Maia which the company acquired in Q4 2019. Interest