January 2020 as follows; Unit: MTHB Inc (Dec) Assets Investment properties 58,145 Leasehold rights (20,783) Deferred tax assets 804 Total increase (decrease) to assets 38,166 Liabilities Lease liability

liabilities – net of current portion at the end of year 2019 was mainly resulted from TFRS 16 adoption of long term lease liabilities transactions  Deferred tax liabilities decreased by 775.6 million baht

properties that are deemed to require a long period of time to dispose while loss from sale of foreclosed assets also increased yoy. If excluding loss from sale and revaluations of foreclosed assets, operating

upstream businesses to capture cost advantages. IVL today has a unique portfolio comprised of High Value Add (HVA) and Commodity products. The HVA segment makes up ~40% of IVL’s EBITDA, which over the long

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...

of 6,703 million Baht, cash and cash equivalent of 1,202 million Baht, and long-term loans to related party of 1,741 million Baht which was mainly from fund flow of Apollo’s deal, real estate projects

3,056.03 million (58.93% of total liabilities), long-term loans of THB 1,600.00 million (30.86% of total liabilities), provision for employees benefit of THB 386.79 million (7.46% of total liabilities

deferred income tax of Baht 0.53 million but there were decrease in fixed assets of Baht 70.14 million, decrease in intangible assets of Baht 3.99 million, decrease in cash and cash in bank of Baht 3.52

from the Company ordered goods in last quarter of 2018 and paid advance payment for purchases of goods followed by supplier’s condition. Deferred tax assets was increased by Baht 19.07 million due to

Company had written-off deferred income tax as tax expense for 4.15 million baht because it is expected not to use as tax benefits. Please be informed accordingly Yours Sincerely, AI Energy Public Company