No. IFS 061/2562 11 November 2019 Subject Management Discussion and Analysis of the 3rd Quarter 2019 Operating Results Dear Governors and President Market for Alternative Investment (mai) Infraset

MD&A Q3Y2019 (E) - 11.11.19 RATCH Group Public Company Limited Management Discussion and Analysis For the Three-month and Nine-month Periods Ended 30 September, 2019 Management Discussion and

collaboration with the TRBN and the waste management alliance, applies the circular economy principles to promote systematic and sustainable waste management in response to the growing issue of plastic waste

cost management for electricity generation of our gas- fired power plants which contribute approximately 70% of our portfolio capacity. Land Lease Agreement for U-Tapao hybrid project On June 26, 2020

was an additional gain from GRM Hedging. Executive Summary 4 | Management Discussion and Analysis of Business Operation for the year 2017 Bangchak Corporation Plc. Marketing Business Group, recorded the

1 Ref. No. IVL 006/11/2017 9 Nov 2017 The President The Stock Exchange of Thailand Subject: Submission of Quarterly Reviewed Financial Statements and the Management Discussion and Analysis of

* Excludes foreign exchange rate effects and gain on equity interest in an associate] Sales Revenue Consolidated sales revenue in Baht terms declined slightly to Bt3,113.9 million in 1Q19, representing a

Company’s working capital is indirectly subsidized via trade creditor in form of loan and via business partners in form of raw material supported for production (under Collateral Management Agreement – CMA

million baht or 72.9 percent. After corporate income tax, net profit was 263.7 million baht of which gain attributable to equity holders of the Company at the amount of 249.3 million baht. Earnings per

. BGRIM has established anti- corruption policies and related policies, corruption risk assessment and management, review of internal control systems, internal-external whistle blowing process. These