Management Discussion and Analysis of Business Operation for the 2nd quarter of 2017 Bangchak Corporation Plc. 1 | Bangchak Corporation Public Company Limited Management Discussion and Analysis of
consolidated financial statements of TSEO for the year ended 31 December 2017 as audited by the auditor and (2) the pro- forma consolidated financial statements of TSEO after the completion of restructuring
is applied of the Company and the consolidated financial statements of TSEO for the year ended 31 December 2017 as audited by the auditor and (2) the pro- forma consolidated financial statements of
and Analysis of Business Operation for Q1/2019 Bangchak Corporation Plc. I 6 Statement of Income Consolidated Statement of Income (Unit: Million Baht) Q1/2018 Q4/2018 Q1/2019 YoY QoQ Revenue from sale
value of consideration basis. The highest transaction value is derived from this method of calculation, whereby the, calculation is based on the Company’s reviewed consolidated financial statements for
1,367.27 million. Management Discussion and Analysis of Business Operation for the 3rd quarter of 2017 Bangchak Corporation Plc. 19 | Financial Position of the Company and its subsidiaries (Consolidated
opinion that the reclassification of revenues and expenses of Power Plant Business Units in consolidated financial statement should be done by being shown the net transaction in “Loss for the Period from
perform any actions related to the redemption and transfering of Land and Buildings to Chote Pittayachai 3 Co., Ltd. at the price of Baht 550,000,000 (Five hundred fifty million), including operation as
Asset Sale and Purchase Agreement, the Fuel and Utilities Supply Agreement, the Power Purchase Agreement, the Operation and Maintenance Services Agreement, and the Land Sub-Lease Agreement (collectively