Management Discussion and Analysis of Business Operation for the 2nd quarter of 2017 Bangchak Corporation Plc. 1 | Bangchak Corporation Public Company Limited Management Discussion and Analysis of

Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For the 4th quarter and year ended December 31th, 2019 2 Management Discussion and Analysis of Business Operation for

continuously support and grow together with us. Commercial operation of ABPR4 From a total of 3 SPP power plants in Amata City Industrial Estate that have scheduled COD in 2018, ABPR4 is the second gas-fired

) has proceeded the hearing on the Notification of SPP Replacement for SPP combined cycle cogeneration plant that PPA will be expired during 2019-2025. Tentative timeline is EGAT will notify ERC on the

. 49% 3. Mr. Apichart Kasemkulsiri 1% 4. Mrs. Ornruedi Na-Ranong 1% Source of Funding: Cash flow from business operation of the Company Profit of Investment: Dividend The above is not within the scope of

for each project, currently set at 500 million baht, will be lifted. Combined investment of an infrastructure fund in all power plant projects must be not less than 2 billion baht.If an

Management Discussion & Analysis of Business Operation Bangchak Corporation Public Company Limited For the year ended December 31st, 2018 Management Discussion and Analysis of Business Operation for

and Analysis EXECUTIVE SUMMARY SIGNIFICANT EVENTS ABBREVIATION & OUR PROJECTSFINANCIAL PERFORMANCE FINANCIAL POSITION PROGRESS OF PROJECTS UNDER CONSTRUCTION EXECUTIVE SUMMARY 1 Commercial operation of

effective from the execution date until the 25 th year from the commercial operation date. The project is a combined-cycle power plant project that used natural gas as the main fuel with total contracted

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