margin in 1Q2022 was 25.70%, decreased from 27.13% in 1Q2021 due to the higher revenue sharing cost to marketing partners via online channel. Services income from information technology solutions for

contribute high gross margin; 4) marketing activities to help dry stock at trade stores and prepare for new packaging launch in Q3; and 5) increased administrative expenses from higher personnel expenses to

Greater China Investment Project, the Group nevertheless benefits from manufacturing and exporting our products to the People’s Republic of China for marketing for the purpose of further selling and

- Translation - Page 2 of 6 People’s Republic of China for marketing for the purpose of further selling and distributing to our target consumers all over several key provinces in the People’s Republic of China

resulted in reallocation between sales and service revenue as well as marketing expenses while device subsidy is capitalized as contract assets and amortized against the service revenue over the customer

decrease. Also, device subsidy recognized as marketing expense will be capitalized as contract assets and amortized against the service revenue over the customer contract term. b) On balance sheet, there

%, part of which contributed from the successful deals with new partners in new export markets including Australia and Libya. Under these circumstances, the Group’s aggressive marketing policy to expand

discount was provided to those being impacted by measures to contain COVID-19. Still, the discount did not significantly drag gross profit margin down due to reduction in advertising and marketing expense

Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For Quarter 1/2020 11 - Refinery & Trading 16 - Marketing 19 - Power Plant 21 - Bio-based Products 23 - Natural

Management discussion and analysis /Page 2 - Efficiently cost and expenses control measure such as managing staff productivity, marketing expenses control by shift to more social media and digital marketing