of IRPC-CP and ISP1 after start-up operation in Q4/2017 and the increase in revenue of the Combine Heat and Power Producing Company Limited (CHPP) from solar panel installation services on gas station

Combine Heat and Power Producing Company Limited (CHPP) : VSPP Operating Performance Q3/17 Q2/18 Q3/18 Changes +/(-) 9M/17 9M/18 Changes +/(-) (THB million) QoQ YoY YoY Revenue Revenue from selling chilled

. - Combined Heat and Power Producing Co., Ltd. • Renewable energy power plants: - Ichinoseki Solar Power 1GK - Thai Solar Renewable Co., Ltd., which holds shares in Siam Solar Energy 1 Co., Ltd. - Combined Heat

2017 Bangchak Corporation Plc. Table of Contents 6 8 08 8 Refinery Business 12 Marketing Business 13 Green Power Business 15 Bio-Based Products Business 18 Exploration & Production Business 21 25 23

Management’s Discussion and Analysis (MD&A) for year 2017 2 12.5% for sale volumes and increasing by 19.4% for production volumes. This mainly due to the Tolling agreement with G Steel for producing of HRC to

for producing of HRC to increase the normal capacity during off peak power usage in 4th Quarter of 2017. - Gain from debt restructuring was achieved of THB 734 million some portion resulting from debt

for producing of HRC to increase the normal capacity during off peak power usage commencing in 4th Quarter of 2017 till to present which can demonstrate as the following: Management’s Discussion and

engaged in import and export of equipment used for Electrical Power Systems including research and development to futher expand the investment in electrical engineering, electronic products and electrical

year due to the Company entered the Tolling agreement with G Steel for producing of HRC to increase the normal capacity during off peak power usage commencing in 4th Quarter of 2017 till to present which

than last year due to the Company entered the Tolling agreement with G Steel for producing of HRC to increase the normal capacity during off peak power usage commencing in 4th Quarter of 2017 till to