Tel. 02-897-8888, 02-897-8800 Fax. 02-897-8890 1. * The company required to extend the period of loan, from the previous on 24/02/2018 1st extended : Extended for 3 months, the remaining loan amount of

extend the period of loan, from the previous on 24/02/2018 1st extended : Extended for 3 months, the remaining loan amount of 115.8 million baht, interest rate amount of 1.74 million baht 2nd extended

million (approximately THB 11 million), which has been consolidated into the Company’s group performance. Management Discussion and Analysis of Business Operation for Q3/2019 Bangchak Corporation Plc. I 6

)% No maturity 120,691 20.3% 120,417 24.3% 105,313 19.2% 0.2% 14.6% Total net investments 593,180 100.0% 495,351 100.0% 547,941 100.0% 19.7% 8.3% * Including net investments in associates The remaining

finished within Q3/2018 or Q4/2018, and the remaining 30.89% could be completed within Q4/2018. Upon the completion of this acquisition, tangible and intangible assets in the consolidated financial statement

company had signed the Share Purchase Agreement (SPA) with Engie Global Development B.V. to purchase 69.11% shares of GLOW and to acquire the remaining shares of 30.89% through tender offer process. Subject

Comparison is as follows: THB’000 Consolidated ∆% Separate ∆% 2017 2016 2017 2016 REVENUES FROM SALES AND SERVICES 2,473,795 3,672,528 -33% 1,631,566 1,812,983 -10% Interest income 1,045 1,896 -45% 36,148

follows: THB’000 Consolidated ∆% Separate ∆% 2017 2016 2017 2016 REVENUES FROM SALES AND SERVICES 2,473,795 3,672,528 -33% 1,631,566 1,812,983 -10% Interest income 1,045 1,896 -45% 36,148 21,274 70

P a g e 1 | 7 Management Discussion and Analysis For the nine-month period ended September 30, 2017 The analysis of consolidated financial position as at 30 September 2017 The group’s assets

P a g e 1 | 8 Management Discussion and Analysis For the nine-month period ended September 30, 2017 The analysis of consolidated financial position as at 30 September 2017 The group’s assets