exchange Earnings from operation before change in operating assets and liabilities Operating assets (increase) decrease Long-term deposits at financial institutions Securities purchased under reverse

securities (Gain) Loss from assets distribution (Gain) Loss from foreign currencies exchange Earnings from operation before change in operating assets and liabilities Operating assets (increase) decrease Long

off (Gain) Loss from regulation of securities (Gain) Loss from assets distribution (Gain) Loss from foreign currencies exchange Earnings from operation before change in operating assets and liabilities

financial statements contain material misstatements, the auditor will ask the client to adjust the financial statements before issuing the final version to the financial statements users. Corporate governance

company had adjust the organization to be more compact and more cost saving. 6. Financial cost For Quarter 1 of the year 2020, the financial cost was 0.21 million baht compare to 0.44 million bath last year

Translation CEN 016-2020 August 14, 2020 Subject Management Discussion and Analysis for business operation of Quarter 2/2020 To The Manager and President The Stock Exchange of Thailand Capital

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

December 2018 before retrospectively adjust was THB 14,329.7mn and after the retrospectively adjust was THB 14,376.4mn, an increase of THB 46.7mn. 2) the total shareholders’ equity as of 31 December 2018

decreased from Q2–2019. This is because several projects in Q2–2020 were affected by the ongoing outbreak of COVID–19, forcing many customers to adjust their working method which have an effect on the

Bangchak Corporation Plc. Management Discussion & Analysis of Business Operation For the quarter ended September 30th, 2019 Management Discussion and Analysis of Business Operation for Q3/2019