1,802 63% Adjusted EBITDA Margin (%) 5.4% 6.8% 8.6% 3.2% 1.8% 6.4% 9.3% 2.8% บรษัิท โกลบอลกรนีเคมคิอล จํากดั (มหาชน) Management’s Discussion and Analysis | 4 Note : (1) Reference Price of EPPO (2

-22% CPO (THB/kg.)(3) 20.78 25.84 -20% 20.34 2% 20.56 28.31 -27% EPPO P2F (THB/kg)(4) 5.13 4.95 4% 5.14 0% 5.13 5.06 1% Biodiesel Mandate B7 B5, B7 B7 B7 B5, B7 Note : (1) Reference Price of EPPO (2

. Department of Alternative Energy Development and Efficiency (DEDE)5. Energy Policy and Planning Office (EPPO)6. Office of Transport and Traffic Policy and Planning (OTP)7. Thailand Greenhouse Gas Management

-17% Crude Palm Oil (CPO) (Baht/kg.)(3) 20.24 22.43 -10% 20.78 -3% 20.45 26.35 -22% EPPO P2F (Baht/kg)(4) 5.29 4.79 10% 5.13 3% 5.18 4.97 4% Biodiesel Mandate B7 B7 B7 B7 B5, B7 Note : (1) Reference

16.04 112% 23.01 48% EPPO P2F (Baht/kg.)(4) 4.49 4.87 -8% 4.52 -1% Biodiesel Mandate B10 B7 B7 Optional Biodiesel B7 B20 B20 B10 B20 Note : (1) Reference Price of EPPO (2) Conversion ratio: 0.865 Tons

% 29.03 -13% 27.91 33.25 -16% Crude Palm Oil (CPO) (Baht/kg.)(3) 16.94 20.48 -17% 20.24 -16% 19.57 24.88 -21% EPPO P2F (Baht/kg)(4) 5.22 4.93 6% 5.29 -1% 5.19 4.96 5% Biodiesel Mandate B7 B7 B7 B7 B5, B7

28.94 -15% 23.98 2% 24.23 28.73 -16% Crude Palm Oil (CPO) (Baht/kg)(3) 17.21 20.78 -17% 16.04 7% 16.63 20.56 -19% EPPO P2F (Baht/kg)(4) 4.84 5.13 -6% 4.87 -1% 4.85 5.13 -5% Biodiesel Mandate B7 B7 B7 B7

% 20.45 26.35 -22% EPPO P2F (บาท/กก.)(4) 5.29 4.79 10% 5.13 3% 5.18 4.97 4% อตัราการผสมไบโอดีเซล B7 B7 B7 B7 B5, B7 หมายเหต ุ: (1) อ้างอิงสนพ. (EPPO) (2) 0.865 ตนัเท่ากบั1,000 ลิตร โดยประมาณ (3) อ้างอิงกรม

20.45 -18% EPPO P2F (Baht/kg)(4) 4.83 5.29 -9% 4.84 -0% 4.84 5.18 -7% Biodiesel Mandate B7 B7 B7 B7 B7 Note : (1) Reference Price of EPPO (2) Conversion ratio: 0.865 Tons = 1,000 Liters (3) Reference

-34% 20.48 -1% EPPO P2F (Baht/kg)(4) 5.14 5.17 -1% 4.93 4% Biodiesel Mandate B7 B5 B7 Note : (1) Reference Price of EPPO (2) Conversion ratio: 0.865 Tons = 1,000 Liters (3) Reference Price of DIT (4