business to record a lower market gross refinery margin (GRM) compared to Q2/2018. However, market GRM (Restate) 7/ Management Discussion and Analysis of Business Operation for Q2/2019 Bangchak Corporation

market items 136,862 133,253 133,584 2.7% 2.5% Debt issued and borrowings 116,348 132,543 107,190 (12.2)% 8.5% Total liabilities 2,703,591 2,682,235 2,674,303 0.8% 1.1% Shareholders’ equity * 412,814

- ร่าง - 1 May 28, 2019 Subject Management Discussion and Analysis for the year ended 31st March 2019 To President of the Stock Exchange of Thailand Secretary of the Office of Securities and Exchange

Unit: million Baht 31 March 2019 31 December 2018 Fin an cia l St at us Total Liabilities 4,359 5,607 Total Asset 17,144 18,824 Total Equity 12,785 13,218 The Company’s Operating results during the

Rd., Klongmadua, Krathum Baen, Samut Sakhon 74110 Thailand. E-mail: ir@aienergy.co.th บริษัท เอไอ เอนเนอร์จี จํากดั (มหาชน) AI Energy Public Company Limited ทะเบียนเลขที 0107556000311 AIE195/2022

accommodative stance relatively intact in light of easing inflationary pressures amid weakening oil prices in the global market. In Thailand, economic growth for 2019 is expected to decelerate to a range of 3.5

(Translation) PRG.MD. 021/2019 February 26th, 2019 Subject: Management Discussion and Analysis (MD&A) of 2018 Attention: Managing Director of the Stock Exchange of Thailand We, Patum Rice Mill and

1 / 4 (Translation) PRG.MD. 040/2019 May 14th, 2019 Subject: Management Discussion and Analysis (MD&A) Q1/2019 Attention: Managing Director of the Stock Exchange of Thailand We, Patum Rice Mill and

73 1 / 4 Pef. MD 048/2019 13th August 2019. Subj Management Discussion and Analysis (MD&A) Q2/2019 Dear Managing Director of Stock Exchange of Thailand We, Patum Rice Mill and Granary Public Company

73 1 / 4 Pef. MD 066/2019 8th November 2019. Subj Management Discussion and Analysis (MD&A) Q3/2019 Dear Managing Director of Stock Exchange of Thailand We, Patum Rice Mill and Granary Public Company