significant transactions constituting acquisition or disposal of assets and the announcement of the Stock Exchange of Thailand Re: Disclosure and the operations of listed companies in the acquisition or

) Better cost control, productivity improvement and volume increase leading to higher gross profit margin. 2) Better performance from Portugal and China operations. Portugal and China operations generated

-1- AIT (VP-SEC) 025E/2023 August 10, 2023 Subject: Management's Discussion and Analysis of Operating Results for Q2-2023 To: The President of the Stock Exchange of Thailand Summary of Operations Q2

Competition 1 1.3 Regulatory Changes 2 2. Risk Management and Risk Factors 5 2.1 Credit Risk Management 5 2.2 Market Risk Management 5 2.3 Liquidity Risk Management 6 3. Business Directions and Operations of

to the operations of the Bangchak refinery THB 1,844 million, to BCP Trading Co., Ltd. THB 18 million, and shares of profit from the Bongkot Marine Service Co., Ltd. in the amount of THB 11 million

to the issuer and its industry and had materially affected or could materially affect, directly or indirectly, the issuer’s financial position and results and business operations, and investments by

, the issuer’s financial position and results and business operations, and investments by holders of securities in the issuer, in a section headed "Risk Factors". The issuer is encouraged, but not

with such investment targeting to ultimately enhance the Company’s growth planned to complete within the 1st quarter of 2018. It has been, however, decided to cease the study of one project on Ram Indra

following events occur, the Office’s approval for the establishment and management of the mutual fund shall cease accordingly, unless there is an appropriate reason and a waiver is granted by the Office: (1

units of any scheme, should any of the following events occur, the Office’s approval for the establishment and management of the mutual fund shall cease accordingly, unless there is an appropriate reason