Management’s Discussion and Analysis (MD&A) For Q3/2017 1 1. Highlights G J Steel Public Limited Management’s Discussion and Analysis (MD&A) Q3/2017 Unit: million Baht 3rd Quarter 2017 3rd Quarter

1 G J Steel Public Limited Management’s Discussion and Analysis (MD&A) for year 2018 Unit: million Baht Year 2018 Year 2017 Pe rfo rm an ce Revenues 29,910 15,178 Sales Volume (k tons) 1,447 812

G J Steel Public Limited Management’s Discussion and Analysis (MD&A) for year 2018 (Revised) Unit: million Baht Year 2018 Year 2017 Pe rf or m an ce Revenues 29,910 15,178 Sales Volume (k tons) 1,447

Management’s Discussion and Analysis (MD&A) For Q3/2018 1 1. Highlights G J Steel Public Limited Management’s Discussion and Analysis (MD&A) Q3/2018 Unit: million Baht 3rd Quarter 2018 3rd Quarter

backlog and higher delivery. However the remaining backlog will be recognized within this year and the first quarter of next year. 2. The cost of sales and services to sales ratio for the Group were 71.97

previous year at 171.0 million baht in revenue from sales, or 5.78 percent. The increase in sales figures was revenue from the sale of moulds scheduled for delivery within the third quarter. In 2017, the

million to Baht 247.22 million for the quarter ended 31th December 2017 compared to Baht 234.44 million for 2016. The increment of revenue is the result of higher backlog and higher delivery from the

 Rabbit card  Rabbit LinePay  3) LOGISTICS – PARTNERSHIP WITH THAILAND’S LEADER IN PARCEL DELIVERY AND EXTRACTING SYNERGIES FROM NEW MARKETING SOLUTIONS   VGI GLOBAL MEDIA PLC 2018/19 SNAPSHOT

EXPANSION OF PAYMENT SERVICES  VGI PUBLIC COMPANY LIMITED Rabbit card  Rabbit LinePay  3) LOGISTICS – ENHANCING KERRY’S DELIVERY SERVICES ACROSS BTS STATIONS 1Q 2019/20 SNAPSHOT & ANALYSIS CONSOLIDATED P&L

the delivery of outstanding goods and repayment of loans from third parties and Short term bill of exchange that affected total liabilities was decreased to 6.35% as well, the shareholder’s equities