Ratios Interest bearing Debt to Equity 0.85 0.78 0.78 Net Interest bearing Debt to Equity 0.40 0.59 0.64 Q1/2017 Q4/2017 Q1/2018 DSCR 3.39 2.47 2.25 * DSCR Calculation is not including long term debt

Management Discussion & Analysis of Business Operation Bangchak Corporation Public Company Limited For the 2nd quarter ended June 30th, 2018 Management Discussion and Analysis of Business Operation for 2Q/2018 Bangchak Corporation Plc. I 2 Table of Content Management Discussion & Analysis of Business Operation 03 Executive Summary 06 Statement of Income 08 Business Performance 08 Refinery & Trading Business Group 12 Marketing Business Group 14 Power Plant Business Group 16 Bio-Based Products Bus...

Management Discussion & Analysis of Business Operation Bangchak Corporation Public Company Limited For the 3rd quarter ended September 30th, 2018 Management Discussion and Analysis of Business Operation for 3Q/2018 Bangchak Corporation Plc. I 2 Table of Content Management Discussion & Analysis of Business Operation 03 Executive Summary 05 Statement of Income 07 Business Performance 07 Refinery & Trading Business Group 12 Marketing Business Group 13 Power Plant Business Group 16 Bio-Based Product...

remaining from the allocation of the newly-issued shares or calculation for allocation ratio of each shareholder, to round down such fraction or undertake other actions as deemed necessary and appropriate in

lease agreement, a valuation of such collateral by a valuation company listed in the SEC Office’s approved list is required. The valuation or calculation of the collateral value shall take into account

to be greater than sixty percent of the paid- up capital of such company. In this regard, the number of shares held by strategic investors may be excluded from the calculation of such offer size; (2

early February 2019 and we’re currently in negotiations with potential new tenants for Underwood Street. As such, Underwood Street was still excluded from the occupancy rate calculation during this period

24.3% NNP per share 0.2* n/a No. of shares in calculation** 2,607 Remark: *NNP to calculate NNP per share is NNP – Owner of the parent only for 3 months in Q3’2017 amounting of Baht 519 million which is

IPO and the offering to the Company’s shareholders). Calculation Bases 1. Net Asset value = Net asset value of CAZ proportionally disposed of1 / Net asset value of the Company2 = Baht 90.65 million

36.64%. (Calculated from the number of shares in respect of the IPO and the offering to the Company’s shareholders). Calculation Bases 1. Net Asset value = Net asset value of CAZ proportionally disposed