2017 Bangchak Corporation Plc. Table of Contents 7 9 09 8 Refinery Business 13 Marketing Business 14 Green Power Business 16 Bio-Based Products Business 18 Exploration & Production Business 22 26 24

Q4/2018, inventory loss was THB 2,517 million. In this quarter, the refinery’s average production rate was 110.12 thousand barrels per day, as there was a maintenance of the Hydrocracking Unit’s Gas

Business Group recorded an average production rate of 66.80 KBD (56% utilization rate), which declined, coinciding with the 2018 planned turnaround maintenance TAM (period between 30th April – 13th June

recorded an average production rate of 118. 82 KBD (99% utilization rate) which is considered as a record all-time high for average production rate in any quarter in the history of the Bangchak refinery

. Environment Management Accounting : EMA Q1/2017 Q1/2018 ∆ Material Costs of Product Outputs : Consist of crude oil, ethanol, biodiesel, chemical, energy and utilities in production 24,638 24,910 273 Material

| 2 Executive Summary In 2019, overall palm oil production and crude palm oil ( CPO) inventory remained high in both domestic and international market, although the inventory plunged to a minimum record

production of 123 KBD in March. Also, after the completion of the TAM, Bangchak refinery was able to consistently maintain high levels of production throughout the year. Total GRM decreased 32%, from the

Bangchak Corporation Plc. Table of Contents 5 10 0 10 Refinery Business 14 Marketing Business 16 Green Power Business 18 Bio-Based Products Business 21 Exploration & Production Business 26 31 30 Statement

of THB 793 million from the divestment of the Nikaho and Nagi project to the Infrastructure Fund in Japan. Bio-Based Product Business Group, by the Biodiesel Business reported production and sales

their allies unable to come to terms on oil production cuts. This further exemplified pressure on the price of crude in the global market to make a severe reduction late in the quarter. Average price of