Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For the 4th quarter and year ended December 31th, 2019 2 Management Discussion and Analysis of Business Operation for FY2019 Bangchak Corporation Plc. | 03 Table of Contents 06 09 29 25 27 31 Executive Important Events Summary Business Performance 11 - Refinery & Trading 16 - Marketing 19 - Power Plant 21 - Bio-based Products 23 - Natural Resources Statement of Cash Flows Statement Financial Ratios Environment Manag...

renewable energy by supporting power plants that use fuel from biomass and wastes, as well as solar rooftop system and energy storage systems. This is a positive factor that supports the expansion of

technology, and the service provider that supports the operation of the organization’s information systems, and update contacts of each channel. Additional Guidelines 1. The intermediary should assign a senior

any policy to make a significant change in its major business. This business acquisition supports business development and results in higher profit which is good affect to the shareholders. 7 c) The

. This business acquisition supports business development and results in higher profit which is good affect to the shareholders. c) The group of companies gained from acquisition of assets is qualified for

shares of FKRMM together with its subsidiaries which are FKRM and GCB. b) The Company does not have any policy to make a significant change in its major business. This business acquisition supports

UNOFFICIAL TRANSLATION Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference. Notification of the Office of the Securities and Exchange Commission No. Sor Nor. 87/2558 Re: Rules, Conditions, and Procedures for Management of Retail Funds, Mutual Funds for Accredited Investors, Mutual Funds for Institutional Funds, and Private Funds ______________________ By virtue of Clause 6, Clause 8, and Clause 9 of the Notification...

Company does not have any policy to make a significant change in its major business. This business acquisition supports business development and results in higher profit which is good affect to the

., Mr. Nuttawut Phowborom and Mrs. Sangduan Ewbamrung will not exceed the number of shares which the Extraordinary General Meeting of Shareholders No. 1/2019 approves the allocation. The said issuance of

exceed the number of shares which the Extraordinary General Meeting of Shareholders No. 1/2019 approves the allocation. The details of nomination of the Company’s directors by the Existing Shareholders