) Public Company Limited ( the “Company”) would like to clarify its operation results for the Fiscal Year 201 9 (ended September 30th, 2019 ) of the Company and its subsidiaries, as follows: (Unit: million

Exploration and Production Business recorded impairment losses of the exploration and evaluation expenditure from the cease Executive Summary 4 | Management Discussion and Analysis of Business Operation for the

No No. CC20200505ELE May 12, 2020 Re: Clarification of the changes in operation performance for the first quarter ended 31 March 2020 Attn: The President The Stock Exchange of Thailand Cal-Comp

rfo rm an ce Revenues 15,178 11,669 Sales Volume (k tons) 812 722 EBITDA 1,062 1,189 Net Profit (Loss) 990 (7) HR C HRC Sales (k tons) 812 722 HRC Production Volume (k tons) 876 733 HRC Average Selling

inventory from the production in December 2017 to satisfy customers’ demand and maintain sales volume of the Company. The Company has gradually increased operation hours continuously since the last quarter of

6.1% 279.4 7.2% Gross Profit 68.0 56.6 20.1% 63.3 7.4% Profit (Loss) from the operation 3.3 (26.0) 112.7% (26.4) 112.5% Gain (Loss) from temporary investment (6.3) (21.7) 71.0% 1.5 (520%) Profit (Loss

Management Discussion & Analysis of Business Operation Bangchak Corporation Public Company Limited For the first quarter ended March 31st, 2018 Management Discussion and Analysis of Business

baht or 43.4 percent from economic slowdown and ceasing the print operation of Post Today and M2F newspapers. Revenue from print media and advertising for the second quarter 2019 was 135.4 million baht

from voluntary resignation and production cost control to lower production costs. - Other income decreased 95.36% from the same quarter of last year due to in the first quarter of 2017, the Company had a

60,000 - 65,000 tons per month) and the company continues to operate at minimum of 15 hours per day until December end. The Company gradually increases operation hours in order to test our production line