locations, and the SPAR convenience store increased by 2 locations, compared to the previous quarter. Within this quarter, 2 more Inthanin Coffee locations Management Discussion and Analysis of Business

., Ltd. are still developing and expanding the business of the SPAR supermarket and convenience store, and Inthanin coffee shop. Thus, as of Q1/2018, there are altogether 457 branches of Inthanin coffee

. Therefore, as of the end of Q2/2018 there was a total of 492 branches of Inthanin Coffee shops and 35 branches of the SPAR convenience store. 6. Bangchak Retail Co., Ltd. saw increase in revenue from branch

outside the service stations. These businesses include the supermarket business and convenience store, “SPAR”, as well as the Inthanin coffee business, which as of the end of Q3/2018, the total number of

accounting standards under WHA level. However, the genuine gross margin was 55.3%. Utilities & Power Business 2018 2019 Increase/ (Decrease) THB mm THB mm % Revenue 2,095.1 2,258.7 7.8% Gross Profit 895.2

genuine gross margins for 3 months and 9 months were 51.5% and 54.8%, respectively. Utilities & Power Business Q3 2018 Q3 2019 Increase/ (Decrease) 9M 2018 9M 2019 Increase/ (Decrease) THB mm THB mm % THB

and selling investment products through different channels. • Check and keep transaction records to confirm they are accurate and genuine. • Use a licensed/regulated financial service provider

genuine gross margin in 2017 was at 57.5% for the warehouse rental and service business which decreased from 69.0% last year, mainly due to change in product mix between Built-to-Suit and Ready-built

margin had accounted for the fair value adjustment of the acquired business according to the accounting standards under WHA level. However, the genuine gross margin during 3 months and 6 months ended the

traffic was supported by 7.2 percent increase in revenue passenger kilometers (RPK) where Asia-Pacific had the highest growth at 9 percent, following by Europe and Latin America, accounting for 7. 7 percent