Website: www.kiatnakin.co.th http://www.kiatnakin.co.th/ 2 Management Discussion and Analysis (MD&A) For the first quarter ended March 31, 2018 comparing operating performance and financial position for the

financial position for the fourth quarter and year ended December 31, 2018 with those of 2017. This report discusses principal changes in the audited consolidated financial statements. Overall market

financial position for the fourth quarter and year ended December 31, 2019 with those of 2018. This report discusses principal changes in the audited consolidated financial statements. Overall market

position for the second quarter and the first half of 2017 with those of 2016. This report discusses principal changes in the unaudited consolidated financial statements. Overall market environment The Thai

32,293 32,615 (1%) Table 5: Condensed Consolidated Statement of Financial Position Management’s Discussion and Analysis (MD&A) For Q2/2017 GSteel 15 Unit : Million Baht 30 June 2017 31 December 2016

position for the second quarter and the first half of 2017 with those of 2016. This report discusses principal changes in the audited consolidated financial statements. Overall market environment The Thai

and financial position for the third quarter and the nine months ending September 30, 2017 with those of 2016. This report discusses principal changes in the unreviewed consolidated financial statements

and financial position for the third quarter and the nine months ending September 30, 2017 with those of 2016. This report discusses principal changes in the reviewed consolidated financial statements

Position (1) Investment Properties are booked at cost and depreciated with the straight-line basis over the life of the assets. The estimated fair value is THB 180,409 mn (THB 167,688 mn in December 2016

100.00 4.4. List of the Board of Directors of XPCL No. Name-Surname Position 1. Dr. Thanong Bidaya Chairman of the Board of Directors 2. Mr. Plew Trivisvavet Chairman of the Executive Board and Director 3