Management Discussion & Analysis of Business Operation Bangchak Corporation Public Company Limited For the 3rd quarter ended September 30th, 2018 Management Discussion and Analysis of Business

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

) Catering service and original equipment manufacturers (OEM) for parties, wedding receptions, and any festivals. In addition, the Company produces its products under its trademark for airline business

companies - Investment in 4 trading companies - Investment in 6 companies which doing other business 3 The businesses that CRSB invested above do not involved in manufacturing and distribution of motorcycle

, respectively. PERFORMANCE BY BUSINESS Rental Properties Business Q3 2018 Q3 2019 Increase/ (Decrease) 9M 2018 9M 2019 Increase/ (Decrease) THB mm THB mm % THB mm THB mm % Rental Revenue 308.1 229.4 (25.6%) 828.9

involved in manufacturing and distribution of motorcycle tire, tube and rubber products 3 including import and distribution of shoe or other business which have conflict of interest with NDR. Relationship

enhancing the environmental management effectiveness, and resource utilization. The Environmental Cost Accounting report covers refinery business unit, Bangchak and Bang Pa-in Oil distribution Centre

1 Translation CEN 025-2017 November 13, 2017 Subject : Management Discussion and Analysis for business operation of quarter 3/2017 To The Manager and President The Stock Exchange of Thailand For 3

Q1'19 164 + 127.3% GP TBSPGP TKS 23.0% 25.0% 27.1% 22.2% %GP Business Overview Q1’2019 Performance T.K.S. Technologies Public Company Limited (“Company”) reported total revenues growth of 109.0% or THB

7.40 Other income 2,187 1,266 921 72.75 Profit before expense 55,142 50,572 4,570 9.04 Selling and distribution expenses (44,345) (30,778) 13,567 (44.08) Administrative expenses (54,765) (52,733) 2,032