Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For the quarter ended September 30th, 2019 Management Discussion and Analysis of Business Operation for Q3/2019

1 Ref. No. IVL 007/08/2017 9 Aug 2017 The President The Stock Exchange of Thailand Subject: Submission of Quarterly Reviewed Financial Statements and the Management Discussion and Analysis of

authorized director and management. As such, The Investment Disposal Transaction is considered as the connected transaction pursuant to Connected Transaction Notifications with the highest transaction value MB

relevant governmental agency and condition thereto (if any) 4.1 The Company shall obtain approval from shareholders’ meeting for the offering and sale of new ordinary shares to existing shareholders with a

PowerPoint Presentation THE INNOVATIVE POWER FLAGSHIP OF PTT GROUP MANAGEMENT DISCUSSION & ANALYSIS MD&A Q2/2019 PAGE 1 MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q2 2019 For Q2/2019, the EBITDA of the

using the company’s engineering knowledge to be used in creating new products and services. 8.2 A source of long steady stream of revenue with low risk. The management of the company is expecting to start

well as to approve the appointment, transfer and dismissal of the head of the internal audit unit or any other units responsible for the internal audit. - Review the risk assessment and risk management

well as to approve the appointment, transfer and dismissal of the head of the internal audit unit or any other units responsible for the internal audit. - Review the risk assessment and risk management

well as to approve the appointment, transfer and dismissal of the head of the internal audit unit or any other units responsible for the internal audit. - Review the risk assessment and risk management

Eng_MD&A Final Q3'19 November 13, 2019 Ref: SET-2019-011 Re: Management Discussion and Analysis for Quarter 3’ 2019 Attn. to: President The Stock Exchange of Thailand Filter Vision Public Company