the Notification of the Capital Market Supervisory Board No. TorJor. 20/2551 Re: Rules on Entering into Material Transactions Deemed as Acquisition or Disposal of Assets (as amended) and the

memorandum pursuant to Schedule 2 of the Notification of the Capital Market Supervisory Board No. TorChor. 20/2551 Re: Rules on Entering into Material Transactions Deemed as Acquisition or Disposal of Assets

in back-to-back basic to match raw material purchase order with sell order to avoid unnecessary stock. 2. The Company will be able to access various source of funds (i.e. debt/equity instruments) to

analysis, our cash flow is expected to remain strong with no impact on debt repayment and CAPEX plan. Furthermore, the company is receiving additional working capital facilities by approximately THB 4

expenses, the Company’s net loss should have been at THB 406 million in 2Q20 and THB 488 million in 1H20. Even though the Company’s performance was affected from the external material adverse event, our

Q2’2020 were: • A non-cash unrealized gain on exchange rate of THB 685 million, mainly from the balance of US dollar debt and payables and the appreciation of local currencies (THB and VND) against US

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...

acquisition of assets in accordance with the Notification of the Capital Market Supervisory Board No. TorJor. 20/ 2551 re: Rules on Entering into Material Transactions Deemed as Acquisition or Disposal of

the Year Ended 31 December (YoY) Cost of sales Consolidated financial statements Change Increase/(Decrease) For Year Ended 31 December 2017 2018 THB mm % THB mm % THB mm % Raw material and packaging

respectively, an increase of THB 43.5 Mn or 3.1%. This was mainly due to (1) the opening of new branches, (2) increased sales of raw material to franchisees, (3) increased sales of retail merchandise and (4