Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For Quarter 2/2020 09 - Refinery & Trading 14 - Marketing 16 - Power Plant 18 - Bio-based Products 20 - Natural Resources CONTENTS Executive Summary 03 Statement of Income 07 Business Performance 09 Statement of Financial Position 21 Statement of Cash Flows 23 Financial Ratios 24 Environment Management Accounting 26 3 Management Discussion and Analysis of Business Operation for Q2/2020 Bangchak Corporation Plc. | Ex...

weighted average cost of fund of the Company decreased by 0.39% (decreasing from 3.41% at the end of 2019 to 3.02% at the end of the second quarter of 2020). FINANCIAL POSITION The changes in Consolidated

-cash reconciling items of THB 2,488mn and changes in net working capital of THB (196)mn. After deducting cash paid for interest expenses of THB (478)mn and cash paid for corporate income tax of THB (47

: (Million Baht) 6-Month Net cash from operating activities 2,775.74 Net cash used in investing activities (4,684.36) Net cash from in financing activities 1,673.64 Effect of exchange rate changes on cash and

of sales at Baht 0.4 million, selling and distribution expenses at Baht 1 million and administrative expenses Baht 1.6 million). For the subsidiary company, the expenses from the changes in the

summarized below: (Million Baht) Net cash used in operating activities (1,624.64) Net cash from investing activities 2,273.12 Net cash from in financing activities 1,750.24 Effect of exchange rate changes on

operations within the business group. 2. Other Income Other Income consist of sales of scrap materials, interest income, gain on changes in fair value of short-term investment, and penalties for late payments

significant changes in liabilities in the first quarter of 2020, which was an increase in debentures of the subsidiary that raised funds. Issued debentures before the COVID-19 outbreak and lease liabilities

8,553.07 million as of December 31, 2019 of Baht 331.49 million or 3.88% primarily of the significant changes are from the additional purchase of property, plant and equipment of Baht 391.52 million mostly

adjusted depending on changes of future situation. GFPT Public Company Limited Interim Management Discussion and Analysis for the 3rd Quarter 2019 Page 10 of 13 Consolidated statement of financial position