Bangchak Corporation Plc. I 2 03 Table of Contents 06 08 21 24 26 28 Executive Statement Summary of Income Business Performance 8 - Refinery & Trading 13 - Marketing 15 - Power Plant 17 - Bio-based Products

since 4Q’16 and increase in demand of existing customers. b. Industrial Water sales volume increased by 7.0% YoY mainly from COD of Gulf VTP Gulf TS1 and Gulf TS2 Power Plant COD in May. July, and

. . . . Inventories . . ( . ) ( . ) Property, plant and equipment . . ( . ) ( . ) Total Liabilities . . . . Bank overdraft and short-term borrowings from financial institutions . . . . Trade and other account payables

due to the efficient cost management in the production of electricity and steam from the Cogeneration power plants. Throughout Q1/2018, the Sriracha Power Plant, which is a Independent Power Producer

& 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

power plant at Baht 142.91 million, or 41.66 %. The increase of revenue from power plant comes from the 5 MW Prachinburi Power Plant at Baht 38.12 million and the 9.99 MW Kyotamba power plant in Japan at

value measured from net assets acquired in proportionate holding on GLOW’s shares PAGE 3 MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q2 2019 Operating performance by plant in Q2/2019 The company’s gross

Bangchak Corporation Plc. I 2 03 Table of Contents 06 08 22 25 27 29 Executive Statement Summary of Income Business Performance 8 - Refinery & Trading 13 - Marketing 15 - Power Plant 17 - Bio-based Products

) KEY HIGHLIGHTS • Total revenue and share of profit, and net profit were THB 1,277.8 mm and THB 99.3 mm, respectively, consisting of the normal business operation and FX impact, which was mostly

FY2019 Bangchak Corporation Plc. | 03 Table of Contents 06 09 29 25 27 31 Executive Important Events Summary Business Performance 11 - Refinery & Trading 16 - Marketing 19 - Power Plant 21 - Bio-based