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...

Agreement, the final purchase price is subject to adjustment of remaining cash, bank borrowings and net working capital required for normal operation of Target Group Hotel and Resort at the closing of the

increased by Baht 451 million due mainly to the annual salary adjustment. Portion of Operating Expenses Personnel expenses (Including directors’ remuneration) Premises and equipment expenses Taxes and duties

are as follows: Firstly, EGCO’s operating profit in Income Statement increased by Baht 21,073 million. Secondly, the effect from the translation adjustment of currencies to Thai Baht for offshore

properties for sale and adjustment of Baht 2,148. 6 million, Baht 1,897.4 million, Baht 2,873.0 million, Baht 2,073.0 million and Baht 1,611.5 million, respectively; and less ( ii) any reversals from

Construction EVN Electricity of Vietnam Ft Fuel adjustment FX Foreign exchange IPO Initial public offering IU Industrial user JV Joint venture kWh / GWh Kilo / Gigawatt-hour MEA Metropolitan Electricity

approved by Link 1 Including registration of the Company’s paid-up capital resulting from the allocation of the newly issued ordinary shares to accommodate the adjustment of rights for the warrants of the

issued ordinary shares to accommodate the adjustment of rights for the warrants of the Company based on the assumption that the rights under the warrants are exercised in full and ACO I will become a

decreased Baht 43.38 million following to the adjustment of sales amount and the control of administrative debt effectively. Inventory was decreased Baht 15.50 million due to the control of purchase. Other

rate (725) (Gain) loss on exchange rate on debt to equity Conversion (79) (Gain) loss on adjustment in value of securities (1) Reversal of bad and doubtful debts (145) Provision for a guarantee of