3.58 (0.38 ) (0.11 ) Total Revenue 113.10 142.72 (29.62 ) (0.21 ) Expenses Cost of sales 76.18 123.51 (47.33 ) (0.38 ) Distribution costs 15.40 11.92 3.48 0.29 Administrative expenses 45.78 38.88 6.90

was attributable to the Company has some fixed costs that unchanged irrespective of the revenue. Distribution costs The Company booked distribution costs amounting to Baht 1.87 million and Baht 2.82

and services 263.70 277.74 (14.04) (5.06) Total Costs of Sales and Services 753.19 734.65 18.54 2.52 Gross Profit 272.67 283.71 (11.04) (3.89) Other incomes 12.44 10.60 1.84 17.36 Distribution costs

services 59.31 64.61 (5.30) (8.20) Total Costs of Sales and Services 167.80 182.83 (15.03) (8.22) Gross Profit 57.22 65.77 (8.55) (13.00) Other incomes 1.16 5.31 (4.15) (78.15) Distribution costs 18.00 17.80

) 3,258 4,410 (1,152) (26.1) Profit before expenses 97,236 87,519 9,717 11.1 94,567 85,934 8,633 10.0 Selling and distribution expenses 25,530 26,689 (1,159) (4.3) 23,090 24,427 (1,337) (5.5) Administrative

intensified competition, and the refinery’s TAM which resulted in the lower volume of finished oil produced. On the other hand, retail market which is the company’s main distribution channel recorded sales

only 18 days). However, income tax expenses in Q1/2020 increased as a result of the increase in deferred income tax expenses following the implementation of Thai Financial Reporting Standard regarding

purposes only and does not predict or depict the performance of the Fund. ** The MSCI World Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market

Marketing Margin (Baht / Litre) 0.84 0.70 0.83 -1% 19% EBITDA (Million Baht) 856 302 735 -14% 144% Note: marketing margin of Bangchak only For Q1/2018, compared to Q1/2017, Marketing Business Group EBITDA

higher level of cassava price. Natural Resources business Group Exploration and Production business recorded lower revenue, as sales volume was reduced to realize only Nido & Martinloc, after the company