scheme of power plants that will expire during 2019-2021 based on NEPC’s guidelines. Management Discussion & Analysis Management Discussion & Analysis (MD&A) Q4/2018 and FY2018 Significant Events in Q3

, water, and fuel energy. 8 Social The Company conducts business in accordance to human rights principles, based on its philosophy which places importance to peace, human beings and society, which aims to

of paper and plastic; 2. Waste management; and 3. Management of electrical energy, water, and fuel energy. Social The Company conducts business in accordance to human rights principles, based on its

to net realizable value based on inventory aging; and higher employee benefit obligations under severance pay of Baht 20 million for employees serving 20 years or more from 300 to 400 days, according

Q4’2018) primarily due to a record of construction revenue which is recognized based on the percentage of completion of our hydro power projects in Lao PDR, namely XXHP and Nam Che. ABBREVIATION & OUR

Bangchak Corporation Plc. I 2 03 Table of Contents 06 08 22 25 27 29 Executive Statement Summary of Income Business Performance 8 - Refinery & Trading 13 - Marketing 15 - Power Plant 17 - Bio-based Products

& Trading Business Group 12 Marketing Business Group 14 Power Plant Business Group 16 Bio-Based Products Business Group 18 Natural Resources Business Group 20 Statement of Financial Position 22 Cash Flows

of d approve the Directors, to necessary for ch actions m meeting. In ssets in the y the Board o ementioned a the Compan nd the sale pr he Company i al of assets the Compan Act B.E. 253 of the Cap o

& Trading Business Group 12 Marketing Business Group 13 Power Plant Business Group 16 Bio-Based Products Business Group 18 Natural Resources Business Group 20 Statement of Financial Position 22 Cash Flows

mutual fund with the Office; (6) transferring ownership of any remaining assets to the Office; (7) undertaking any other actions as deemed necessary for the completion of the liquidation; The liquidator