(exclude spectrum) Approx. Bt30bn Core service revenue is expected to grow at low-single digit due to economic fluctuation. Thai economy outlook for the rest of the year expects to remain fragile despite a

the entering into the transaction with the votes of not less than three-fourths of the total votes of the shareholders who attend the meeting and have the right to vote by exclude the votes of the

global capacity utilisation ratio. Information on capacity can be found on the OECD website. 2. ROW : Rest of the world (Exclude China). The main raw materials (Pig iron, shredded scrap) the price movement

-codeshare interline sales by it of seats on other airlines’ flights, fuel and insurance surcharge revenue. Exclude revenues from cargo services, charter services and other revenue. 8 ASIA’S BOUTIQUE AIRLINE

Guidance All guidance is based on Post-TFRS 16 Core service revenue  Low single digit growth EBITDA  Low-single digit growth CAPEX (exclude spectrum)  Bt25-30bn Core service revenue to recover and grow

(exclude spectrum) • Bt30-35bn Core service revenue is expected to grow mid-single digit In 2022, Thai economy is expected to be on a recovery path despite the uncertainty around the outbreak of new COVID-19

following assets, financial instruments and letter of agreements, the securities company shall exclude such assets from the calculation of the client’s assets under this Notification; (a) 13 cash; (b) 14

’ flights, fuel and insurance surcharge revenue. Exclude revenues from cargo services, charter services and other revenue. (2) Scheduled passenger revenues including fuel surcharge and insurance surcharge

insurance surcharge revenue. Exclude revenues from cargo services, charter services and other revenue. (2) Scheduled passenger revenues including fuel surcharge and insurance surcharge, but excluding excess

Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For Quarter 2/2020 09 - Refinery & Trading 14 - Marketing 16 - Power Plant 18 - Bio-based Products 20 - Natural Resources CONTENTS Executive Summary 03 Statement of Income 07 Business Performance 09 Statement of Financial Position 21 Statement of Cash Flows 23 Financial Ratios 24 Environment Management Accounting 26 3 Management Discussion and Analysis of Business Operation for Q2/2020 Bangchak Corporation Plc. | Ex...