derives in Philippines. Details are as follow: Buyer (Remained No Change) Cal-Comp Electronics (Philippines) Inc. (“CCPH”), a wholly-owned subsidiary of the Company Seller (Remained No Change) Kinpo

Management Discussion & Analysis of Business Operation Bangchak Corporation Public Company Limited For the 2nd quarter ended June 30th, 2018 Management Discussion and Analysis of Business Operation

as highlighted below ; (Unit : Million Baht) Separate financial statements 2017 2016 % Change Sales and Service Income 1,979.16 1,986.34 -0.36 Cost of sales and Services 1,525.25 1,449.23 +5.25 Selling

million, whereas Baht 2.59 million in 2018, showing an decrease of Baht 0.83 million or 32.05 % decrease. Overall nearly the same, there is no significant change. Most of them are revenues from interests

previous year were as highlighted below ; (Unit : Million Baht) Q1/2018 Q1/2017 % Change Sales and Service Income 467 461 1 Cost of sales and Services 384 339 13 Selling and Administrative Expenses 60 70 (14

the performance and the financial status for the year 2019 ended December 31, 2019 of the Company and its subsidiaries, as shown below: (Unit : Thousand Baht) 2019 2018 Change %Change Revenue 910,707

%, while sales volume decreased 15.5%. Other income : The Company and its subsidiaries had income other than those generated by normal operation Baht 17.8 million or 1.1% of total revenues (Q1/2019: Baht

continue to monitor the outbreak situation that might affect the Company’s operation. Revenue from sales of goods and rendering service Revenue from sales of goods and rendering service for the first quarter

Operation : Consolidated Profit & Loss Statement 4Q 4Q % 12 mth 12 mth % Unit : THB million 2019 2018 change 2019 2018 change Revenue from non-social security 285.64 220.70 29% 1,041.26 911.16 14% Revenue

partially offset by higher sales volume of all main products as a result of stable operation. The share of domestic and export sales has no significant change comparing with the previous year. * Note Please