to a subsidiary focused on transportation of crude palm oil for the company 5. Revenues from sale of porcelain insulators and component Year 2014 and year 2013 company and sales materials, insulators

1 Ref. No. JUTHA-10/2563 November 2, 2020 Subject: Amendment of Articles of Association, Debt to Equity Conversion Constituting a Connected Transaction, Issuance and Offering of Newly Issued Ordinary Shares to Specific Investors (Private Placement) constituting a Connected Transaction, Reduction of Registered Capital, Increase of Registered Capital, Amendment of Memorandum of Association, Waiver from the Requirement to Make the Tender Offer for all Securities of the Business by Virtue of the res...

government’s Diesel fuel price ceiling to alleviate burden of the consumers and business operators within the transportation sector during periods of crude oil upsides. However, as the end of the year approached

| 2 Executive Summary In 2019, overall palm oil production and crude palm oil ( CPO) inventory remained high in both domestic and international market, although the inventory plunged to a minimum record

sales volumes plus greater main raw material costs from higher crude oil price and tight market supply. However, the overall spread margin was improved and bring 23.9% gross profit margin comparing to

profit margin was slightly brought down by 0.9% of gross profit margin due to turnaround costs and the rise of main raw material prices from tight supply plus greater crude oil prices. 2. In Q2 2018

2018, Cost of sales was 4,160 MTHB, increased by 231 MTHB comparing to 2017 or 5.9% as a result of greater Ethylene and Glycerin price from higher crude oil price and their limited supply. 2. In Q3 2018

or 17.2% due the drastic decline in Ethylene and Glycerin price from ample supply plus lower crude oil price. 2. In Q3 2019, Selling and Administrative Expenses was 361 MTHB, increased by 42 MTHB or

of 0.96 THB. The company and its subsidiaries recorded total EBITDA of THB 3,580 million (+28% YoY, +42% QoQ), performance improved, especially for the Refinery Business, of which average crude run

Rule”). Currently, the Company focus on the business expansion of the crude palm oil (CPOA) trading business for biodiesel as there is a high potential growth and will partially conducting a trading CPOA