the parties. In this regard, we will start recognizing the EFL sponsorship fees through our consolidated statement of comprehensive income from June 2017 onwards for a total of 36 months in effect

comprehensive income from June 2017 onwards for a total of 36 months in effect. Administrative expenses derived to THB 338 million, raised by THB 111 million or 48.9% due to consolidations of ICUK’s financial

fees payable to English Football League paid by ICUK. The Company started to recognize the EFL sponsorship fees through our consolidated statement of comprehensive income from June 2017 onwards for a

associates and joint ventures accounted for using equity method increased when compared to Q1/2020, as the Company realized a share of loss from OKEA at THB 1,199 million in the previous quarter, due to the

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 Bangchak Corporation Plc. I 2 03 Table of Contents 06 08 21 24 26 28 Executive Statement Summary of Income Business Performance 8 - Refinery & Trading 13 - Marketing 15 - Power Plant 17 - Bio-based Products 19 - Natural Resources Financial Position Statement of Cash Flows Statement Financial Ratios Environ...

% Reported EPS after PERP Interest (THB) 4.61 3.98 16% 0.37 1.75 1.91 (81)% Core EBITDA/ton ($) 138 110 25% 113 150 111 2% Operating Cash Flow5 989 852 16% 250 276 215 16% Net Debt to Equity (times) 0.87 0.75

(for 4Q19, total revenue of THB 599 mn and net profit of THB 110 mn). The difference versus GLAND’s reported statement of comprehensive income comes from the investment properties that the Company

personnel.  Affluent KBank continued to place our focus on becoming our Customers’ Main Bank. We prioritized portfolio quality improvement in a comprehensive manner via collaboration of relevant divisions

December 2018 % Liabilities and equity Current liabilities Bank overdrafts and short-term loans form financial institutions 549,431 9% 864,674 21% 620,047 17% Trade accounts payable 99,264 1% 105,023 3

comprehensive financial and investment management and planning. Having continually encouraged customers to save, plan for retirement and take out life insurance with tax benefits, we launched Taweesup Extra plus