the two languages, the Thai version shall prevail. The objective of this MD&A is to present the information and the explanation of financial status and operating results as of the date hereof. However

subsidiary of the Company holding the license and operating transportation business), i.e. disposing 4,999,998 ordinary shares held by the Company in NML, equivalent to 99.99996 percent of the total NML shares

of Shareholders to omit dividend payment for the year 2019 since the Company had operating losses 5. Propose to the 2020 Annual General Meeting of Shareholders to re-elect 4 directors who shall retire

interim dividend payment of 0.35 Baht per share (THB 1,051.31 million) from the Company’s operating results based on separate financial statements for the period January - June 2019, which showed the net

2018 (Unit: Million Baht) Biodiesel Edible oil By-product Palm oil refining service Vessel operating Other income Total revenue Revenues from sales and services 352.85 13.57 13.68 2.12 382.22 Cost of

and reducing unnecessary operating expenses coupled with developing digital and online platform, monetizing brand and focusing more on consumers. In addition, entering into such transactions will help

refining service Refined Glycerine Vessel operating Total Sale and service Other income Total revenues Revenues from sales and services 5,363.58 0.00 140.72 9.78 5,514.08 4.95 5,519.03 Cost of sales and

) Biodiesel Edible oil Refined glycerine Byproduct Vessel operating Total Sale and service Other income Total revenues Revenues from sales and services 1,404.30 0.00 1,404.30 1.40 1,405.70 Cost of sales and

3,331 16% Admin and others 3,908 4,046 3,850 -1.5% -4.8% 7,759 7,896 1.8% Operating profit 9,676 9,064 9,184 -5.1% 1.3% 19,289 18,247 -5.4% Net foreign exchange gain (loss) -157 -42 -335 113% 688% -380

5,633 7.6% -1.0% 15,875 16,861 6.2% Marketing Expense 1,430 1,840 1,821 27% -1.0% 4,310 5,153 20% Admin and others 3,805 3,850 3,812 0.2% -1.0% 11,565 11,708 1.2% Operating profit 9,501 9,184 8,905 -6.3