Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For Quarter 1/2020 11 - Refinery & Trading 16 - Marketing 19 - Power Plant 21 - Bio-based Products 23 - Natural Resources CONTENTS Executive Summary and Management Guidelines to Mitigate the Effects of the COVID-19 Outbreak 03 Statement of Income 09 Business Performance 11 Statement of Financial Position 24 Cash of Statement 26 Financial Ratios 27 Environment Management Accounting 29 3 Management Discussion and Anal...

2,560 million; and (ii) a decrease in trade accounts receivable of THB 1,078 million. • Other non-current assets: increased by THB 5,131 million or 6% mainly due to an increase in right of use of assets

PowerPoint Presentation THE INNOVATIVE POWER FLAGSHIP OF PTT GROUP MANAGEMENT DISCUSSION & ANALYSIS MD&A Q3/2019 PAGE 1 MANAGEMENT DISCUSSION & ANALYSIS (MD&A) Q3 2019 On the 9th October, after Global Power Synergy Public Company Limited (GPSC) (‘company’) have finished the Rights Offering process of Baht 74,000 million and has allocated the not exceeding 1,321,428,571 newly-issued ordinary shares to the shareholders of the Company at the offering price of Baht 56 per share. As a result, the com...

% Trade accounts receivable 33,352 31,085 7% Inventories 41,088 40,459 2% Other current assets 9,336 8,811 6% Total current assets 89,032 84,495 5% Investment 6,380 5,530 15% Property, plant and equipment

in millions 30-Sep-17 31-Dec-16 30-Sep-17 vs. 31-Dec-16 Assets Cash and current investments 4,601 4,140 11% Trade accounts receivable 31,413 31,085 1% Inventories 41,932 40,459 4% Other current assets

Goodwill 3,066,035 3,066,035 0 0.0 Deferred tax assets 1,703,440 1,680,935 22,505 1.3 Accounts receivable from clearing house and broker - dealers 3,992,555 629,469 3,363,086 534.3 Securities and derivative

. 31-Dec-16 Assets Cash and current investments 7,015 4,140 69% Trade accounts receivable 32,098 31,085 3% Inventories 46,036 40,459 14% Other current assets 7,803 8,811 (11)% Total current assets 92,953

. 31-Dec-16 Assets Cash and current investments 7,015 4,140 69% Trade accounts receivable 32,098 31,085 3% Inventories 46,036 40,459 14% Other current assets 7,803 8,811 (11)% Total current assets 92,953

Goodwill 3,066,035 3,066,035 0 0.0 Deferred tax assets 1,703,440 1,680,935 22,505 1.3 Accounts receivable from clearing house and broker - dealers 3,992,555 629,469 3,363,086 534.3 Securities and derivative

Core ROCE (before JV’s and M&A Annualized) % 9.2% 10.4% 16.8% -762bps 13.0% 14.0% -95bps Indorama Ventures 1st Quarter 2019 MD&A 17 Cash and current investments 7,093 5,713 24% Trade accounts receivable