-1- AIT (VP-SEC) 033E/2020 November 10, 2020 Subject: Management's Discussion and Analysis of Operating Results for Q3–2020 To: The President of The Stock Exchange of Thailand Summary of Operations

-1- AIT (VP-SEC) 030E/2019 November 7, 2019 Subject: Management's Discussion and Analysis of Operating Results for Q3-2019 To: The President of The Stock Exchange of Thailand Summary of Operations Q3

7.63% Total Gross profit margin 42.31% 37.41% 2. Summary of operating results by business type - Translation - JKN GLOBAL MEDIA PUBLIC COMPANY LIMITED Management Discussion and Analysis of the Company’s

loan to subsidiary of THB 265 million. The loss for the period of YE 2018 is THB 621 million decreasing by 51% from last year (YE2017: 1,261 million). 2. Financial Performance Summary – by business

Bangchak Corporation Plc. I 2 03 Table of Contents 06 08 20 22 24 26 Executive Statement Summary of Income Business Performance 08 - Refinery & Trading 13 - Marketing 15 - Power Plant 17 - Bio-based Products

sales decreased because of the drop of main customers’ sales especially who is operate the cable satellite TV station. 2. Summary of operating results by business type - Translation - JKN GLOBAL MEDIA

subsidiaries (Hereinafter called “ The Group” ) would like to submit Management’s discussion and analysis for the Quarter 1’ 2019 with the summary as follows:- 1. Nature of operations of the Group The Group has

Facility, Dayton Facility and Chocolate Bayou Facility) ** Equity Acquisitions * Asset Acquisitions 8 6.3 Summary of the Financial Information and Business Operating Results on Proforma* basis Since it is a

as follows: Management Discussion and Analysis For the 6 Months Period Ended 30 June 2019 Summary of Performance Sales Revenue For the period of six months ended 30 June 2018 and 2019, the Company

Operation for 1Q/2018 Bangchak Corporation Plc. I 2 Table of Content Management Discussion & Analysis of Business Operation 03 Executive Summary 05 Statement of Income 07 Business Performance 07 Refinery