Discussion and Analysis (MD&A) For Q3/2018 6 Chart of raw material reference prices on world market for Q1/2014 – Q3/2018 Processed price data from: Metal Expert Hot Rolled the prices for hot-rolled coil on

USD 332/mt. compared to the previous quarter. Chart of raw material reference prices on world market for Q1/2015 – Q1/2020 Processed price data from: Metal Expert GJS บริษัท จี เจ สตีล จำกัด (มหาชน) G J

นการยกเลกิการเสนอขาย หลกัทรัพย ์และการจองซือ้หลกัทรัพย ์เป็นตน้ Disclose other material information such as financial advisor, lead-underwriter, co-underwriter, effective date of registration statement

mainly caused by the increasing price of graphite electrode and higher repair and maintenance cost and the proportionate of an increased in raw material cost is greater than an increased in HRC market

372/mt. FOB, dropped from USD 393/mt. from the previous quarter. Chart of raw material reference prices on world market for Q1/2014 – Q4/2018 Processed price data from: Metal Expert 7 G J Steel Public

/mt. from the previous quarter. Chart of raw material reference prices on world market for Q1/2014 – Q1/2019 Processed price data from: Metal Expert Hot Rolled the prices for hot-rolled coil on the

Discussion and Analysis (MD&A) For Q3/2017 9 Chart of raw material reference prices on world market for Q1/2013 – Q3/2017 Processed price data from: Metal Expert Hot Rolled the prices for hot-rolled coil on

case of false statement or particular, or lack of any material information that should have been disclosed, any unitholder who purchases the REIT units within one year since the Registration Statement

quarter of 2017. Thus it will become more challenging for the global steel industry participants in all the regions. Careful estimation for raw material purchasing and production cost management is

previous quarter. Chart of raw material reference prices on world market for Q1/2013 – Q4/2017 Processed price data from: Metal Expert Hot Rolled the prices for hot-rolled coil on the world market during the