million tons of crude steel in March 2019, an increase of 2. Business Outlook on Q2/2019 3. Industry Overview and Outlook 4 G J Steel Public Limited Management’s Discussion and Analysis (MD&A) Q1/2019 2.3

of the product to the worldwide level and increase competence and capability of the company continuously and sustainably. 2. Business Outlook on Q2/2018 Management’s Discussion and Analysis (MD&A) For

20230 Tel. 66-38 480-020-1 FAX. 66-38 480-080 2. Loss arising from change in fair value of biological assets 0.69 Million Baht increase from the same period last year by 0.52 Million Baht or 325.47

% 343.1 319.7 23.5 7.3% Six month period 2018 Six month period 2017 Difference Q2/2018 Q2/2017 Difference - Translation - - For the 2nd quarter administrative expenses for hospital business had slightly

capacity to the full capacity level in 2019. 2. Business Outlook on Q3/2018 Management’s Discussion and Analysis (MD&A) For Q2/2018 3 Executive Summary The steel industry in Thailand shrunk in the second

company is still positive to see an improving of metal spread comparing to Q4/18. 2. Business Outlook on Q4/2018 Own production Tolling Total Own production Tolling Total HRC Sales (k tons) 226 192 418 182

to submit our management’s discussion and analysis for the second quarter in 2019, ended on June 30, 2019 as follows: (Unit : Million Baht) Jan - Jun 2019 Jan - Jun 2018 Increased/ (Decreased) % Change

Steel Public Company Limited Management Discussion and Analysis Quarter 3 Ending 30 September 2019 G J Steel Public Company Limited Page 2/13 2. Business Outlook The Domestic HRC prices were severely

Analysis Q1/2020 G J Steel Public Company Limited Page 2/13 2. Business Outlook Total Hot Rolled Steel consumption for the 1st Quarter of 2020 stood 1.56 million MT and decreased by 3.4% compared to same

(“the Group”) and separate financial statements of the Company for the three-month period ended June 30, 2020. The Company would like to report the change of our operating results as follow: For the 2nd