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

quarter 1/2018 4. Trading began to recognize revenue in quarter 1/2018 Operating results classified by business are as follows: Management service business Revenue from management service decreased Baht

protecting the health and security of employees and customers. The closures of our stores are in line with government orders as follows:  Thailand: Following the government’s order of a temporary business

that the new government will continue the government's policy which is expected to affect the demand for products and services in the retail wholesale business group restaurants and hotels and

Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For the first quarter ended March 31st, 2019 Management Discussion and Analysis of Business Operation for Q1/2019

18.3% QoQ.  Total revenue from core business was Bt735mn, increasing 10.2% QoQ.  Banking agent business (of which the Company is the agent for 6 commercial banks: KTB, KANK, BAY, GSB, BAAC, and SCB

1. The effect of the Corona Virus Disease 2019 outbreak (COVID-19) At the end of March to the beginning of April, the government had measures such as closed the potential risk places, no activity in

domestic and international market, consequence to drastically lower crude palm oil (CPO) and crude palm kernel oil (CPKO) prices than that of 1Q2018. Under these circumstances, the government has maintained

the operating result for the first quarter of 2020 In first quarter of 2020, the situation of global epidemic of Coronavirus disease 2019 (COVID-19) as well as the spread in Thailand, the government

the 2nd. Quarter of 2018, with 31.10 million Baht coming from increase in construction materials business while real estate business decreased 34.75 million Baht effect gross profit decrease 5.35