:: BANGCHAK PETROLEUM PUBLIC COMPANY LIMITED ::

The Bangchak Petroleum Plc is a leading Thai petroleum company that imports crude oil from the Middle East, the Far East and indigenous sources and refining it into products with a maximum crude-processing capacity of 120,000 barrels per day

from a ‘complex refinery’, which produces predominantly gasoline and diesel–both high-value products—and processes a high ratio of domestic feedstock. To use energy efficiently, be more environmentally friendly and enhance power reliability, the Company has entered into a contract with PTT Plc, which builds, owns and operates a co-generation power plant, with electricity and water sold to the Company.

In addition, the Company has introduced natural gas as processing fuel in favor of low-sulfur fuel oil to lower its production cost and be even more environmentally friendly. This forms part of the effort to lower pollution and aligns with the Company’s business philosophy of ‘developing a sustainable business together with the environment and society’. The Company conforms to the EURO IV specifications laid down by the public sector, which requires gasoline to have up to, but not exceeding 1% of benzene by volume from as much as 3.5% by volume, effective from January 1, 2012. Further, it invested in a USD 50-million gasoline quality improvement project, which consists of a benzene removal unit, a reformer splitter unit and offsite, utilities and related equipment. Currently under construction, the project is due for completion by the fourth quarter of 2011. The Company started its sale of EURO IV diesel in April 2008.

Most refined products are sold directly to other oil traders via several transportation modes, such as pipeline, marine or roads while the rest is exported. More than 70% of the refined products are sold directly to consumers through the Company’s own nationwide network of service stations. This retail network consisted of 506 standard service

stations and 559 community service stations under the trademark logo with direct distribution to users in the transportation, aviation, shipping, construction, industrial and agricultural sectors. The Company also runs supplementary businesses at its service stations. Instances include sale of consumer products in Bai Chak and Lemon Green outlets, engine-oil changing/maintenance and car wash centers under the Green Series business group, also known as ‘Green Auto Service’, ‘Green Serve’, ‘Green Wash’, ‘Green Wash Auto Care’ and ‘Green Tire’.

The Inthanin coffee shop, found at Bangchak service stations, is expanding to other key commercial areas and top educational institutions, including Inthanin Premio at the Central World shopping center and the Puey Ungphakorn Library of Thammasat University, Rangsit Campus. Today, 17 Bangchak service stations sell NGV as an option for consumers. In addition to fuel products, the Company produces and sells “Bangchak” lubricants oil and special lubricant products (transmission fluid, brake fluid and grease). Apart from sales to domestic markets through the network of Bangchak service stations, shops, factories and OEM (original equipment manufacturer) market, the Company exports its products.

Recognizing the significance of alternative energy, which benefits national energy security and lowers trade imbalances resulting from fuel imports, the Company has launched the Sunny Bangchak solar power plant project at Amphoe Bang Pa-in of Ayutthaya province, with 38 megawatts of capacity and at an investment outlay of Baht 4,200 million. Currently under construction, this project is due for completion in October 2011. A research investigation on greenhouse gas reduction, conducted with a consultant, is on course for completion in September 2011. Alternative energy—particularly ethanol and biodiesel—eases price problems of farm produce, creates jobs, bolsters national energy security and creates income for farmers. The Company promotes the production and usage of ethanol and biodiesel by sourcing ethanol supplies for blending and selling Gasohol 91 and 95, together with Gasohol E20 and E85, and blending of biodiesel to yield B2 and B5 PowerD.

To this end, the Company formed Bangchak Biofuel Co., Ltd., as a biodiesel processing center worth some Baht 1,000 million and located next to Bang Pa-in Depot in Ayutthaya province, with an average capacity of 300,000 liters a day, running mainly on crude palm oil and relying on sophisticated processing technology from Europe. This supports the expansion of sales of PowerD fuels of B3 and B5 formulas under a 15-year alternative energy development plan (2008-2022) of the Ministry of Energy. In addition, to diminish the public’s health hazards from the reuse of cooking oil and environmental problems arising from public discharge of used cooking oil, the Company has installed a biodiesel unit at the refinery with a capacity of 20,000-liter/day, running on either crude palm oil or used cooking oil, the latter of which is being used as the main raw material.