EBITDA (228) 602 Net Profit (Loss) (433) 366 HR C HRC Sales (k tons) 177 388 HRC Production Volume (k tons) 139 382 HRC Average Selling Price (THB./ton) 19,160 20,942 HRC Cash Margin (THB./Ton) (58) 1,937

) (1,773) (2,327) 13% 31% (6,135) (7,164) 17% Exploration and evaluation expense (12) (12) (11) -10% -6% (60) (48) -20% Gain (loss) from crude and product oil price hedging contract (66) 86 46 169% -47% 107

2017 Pe rfo rm an ce Revenues 7,815 3,276 Sales Volume (k tons) 378 188 EBITDA 118 64 Net Profit (Loss) (451) (233) HR C HRC Sales (k tons) 378 188 HRC Production Volume (k tons) 363 188 HRC Average

could not be recorded in profit/loss statement because methyl ester plant 2 was under testing run for commercial operation. While, Methyl ester price increased following an increase in crude palm oil

) (4.14%) 62.64 338.78% (3.35) (0.18%) 47.50 1,417.91% Cost of Service (7.10) (144.85%) (7.39) (209.53%) 0.29 3.91% (10.35) (212.07%) 3.25 31.38% Gross Profit (Loss) 83.89 8.05% 10.12 2.25% 73.77 729.24

Analysis | 2 Executive Summary In 3Q2018, domestic palm oil production has increased as in other countries, in addition, stock of Crude Palm Oil (CPO) both in Thailand and International market has remained

Ratios 19 P a g e | 3 - Management Discussion and Analysis 2Q2020 - Executive Summary In 2Q2020, crude palm oil (CPO) price was higher than 2Q2019 caused by the implementation of biodiesel B10 as the

2.55 0.25% (21.41) (5.73%) 23.96 111.91% 44.15 4.26% (41.60) 94.22% Cost of Service 0.00 0.00% (5.91) (767.53%) 5.91 100.00% (7.10) (144.90%) 7.10 100.00% Gross Profit (Loss) 84.63 8.21% (61.03) (16.31

of B100 selling price. However, with crude palm oil price continuously declining, BBF recorded an Inventory Loss. The operating results of the separated financial statement for the 6-month period ended

) 1,230.51 274.45 Gross Profit (Loss) 163.14 (24.34) 187.48 770.25 Sales & Administration Expenses and Financial Cost and Tax Expense (32.44) (20.02) 12.42 62.04 Net Profit (Loss) 132.25 (43.62) 175.87 403.19