& 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

attributable to Owners of the Parent6 394.2 465.5 -15.3% 1 Operating Revenue consists of Raw Water Sales, Industrial Water Sales, and Wastewater Treatment Services. 2 Other Utilities Revenue consists of

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

proven beneficial through the various supply chain disruptions seen this quarter, notably the Polar Vortex and Suez Canal blockage. Having access to our own raw material has allowed us to operate at higher

the transaction The Company foresees that currently the MDF Board is widely accepted to use in the production of furniture and decorating accessories, as its specification is similar to the natural wood

production of furniture and decorating accessories, as its specification is similar to the natural wood with the lower price compared with the natural wood or plywood. In addition, there are no substituted

) (9.1%) Sales of steam (IU) 2.5 1.4 (1.1) (44.0%) Sales from Natural Gas Power Plant 422.3 668.6 246.3 58.3% Sales of electricity - FiT, base tariff and Ft 70.1 68.1 (2.0) (2.9%) FiT Premium 6.0 6.0

(71.2) -100.0% Adjustment of Revenue Levelization (TFRS15)5 0.0 (551.6) -100.0% Normalized Profit attributable to Owners of the Parent7 1,792.7 1,716.1 4.5% 1 Operating Revenue consists of Raw Water Sales

(71.2) -100.0% Adjustment of Revenue Levelization (TFRS15)5 0.0 551.6 -100.0% Normalized Profit attributable to Owners of the Parent7 1,792.7 1,716.16 4.5% 1 Operating Revenue consists of Raw Water Sales

Products 23 - Natural Resources Statement of Cash Flows Statement Financial Ratios Environment Management Accounting Statement of income 11 Financial Position 32 Management’s Perspective towards 2020