30 June 2020 31 December 2019 Increased (Decreased) Percentage Assets Current assets Cash and cash equivalents 78.20 138.27 (60.07) (43.44%) Trade and other receivables 297.15 3,20.57 (23.42) (7.31

Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For Quarter 2/2020 09 - Refinery & Trading 14 - Marketing 16 - Power Plant 18 - Bio-based Products 20 - Natural Resources CONTENTS Executive Summary 03 Statement of Income 07 Business Performance 09 Statement of Financial Position 21 Statement of Cash Flows 23 Financial Ratios 24 Environment Management Accounting 26 3 Management Discussion and Analysis of Business Operation for Q2/2020 Bangchak Corporation Plc. | Ex...

Summary Asset As of 30 June 2020 , the Company has total assets 12,921.6 million baht increased from the end of 2019 2,780.0 million baht or 27.4%. Due to the company has higher cash and cash equivalents

amounted 551.6 million baht, decreased 44.3 million baht or 7.4 percent compared to current assets as of December 31, 2019. Mostly due to cash equivalents decreased 24.2 million baht. As a result of

and cash equivalents in the amount of THB 450.39 million. This was pursuant to the Company’s policy in maintaining liquidity and setting aside cash reserves to be used as working capital in order to

issue secured debenture in the amount of THB 300 million to be repaid the previous debenture which will be due in January caused an increasing in Cash and Cash Equivalents from THB 69.07 million as at

and Cash Equivalents from THB 69.07 million as at December 31, 2018 to THB 312.51 million. Liabilities As of December 31, 2019, total liabilities on consolidated basis increased THB 184.79 million to

cash equivalents 4.36 31.33 (26.97) (86.08) Trade and other current receivables 222.38 186.08 36.30 19.51 Contract assets 574.30 564.88 9.42 1.67 Inventories 20.35 9.72 10.63 109.39 Other current assets

million baht or 4.47 % compared to as at December 31, 2019 which derived from cash and cash equivalents of 14.45 million baht, an increase in trade and other receivables of 8.55 million baht, assets usage

cash equivalents 22.73 55.46 Cash Flow from Operating Activities CFO as of March 31, 2020 was 27.76mb. The management will consider using the surplus CFO in investment or any other activities to create