-Translation- Ref. WINNER 006/2020 February 27, 2020 Subject: Management Discussion and Analysis (MD & A) for the year 2019 To: The President The Stock Exchange of Thailand 1. Analysis of Overall

-Translation- Ref. WINNER 006/2020 February 27, 2020 Subject: Management Discussion and Analysis (MD & A) for the year 2019 (Revised) To: The President The Stock Exchange of Thailand 1. Analysis of

responsibility for its accuracy, nor be held liable for any loss or damages arising from or related to its use. Notification of the Office of the Securities and Exchange Commission No. SorThor/Nor. 26/2549 Re

, Thailand cannot undertake any responsibility for its accuracy, nor be held liable for any loss or damages arising from or related to its use. Notification of the Office of the Securities and Exchange

Exchange Commission No. SorThor/Nor. 26/2549 Re: Forms of Financial Statement of a Securities Company ___________ By virtue of Section 106 of the Securities and Exchange, Act B.E. 2535 (1992), and Clause 1

production of the company can substitute the import HRC. - As the above reasons, the Company believe that with the new working capital injected to the Company and lower debts (partly are converted to equity

state-of-art steel mill and the production of the company can substitute the import HRC. - As the above reasons, the Company believe that with the new working capital injected to the Company and lower

compensation for design and construction to related person. To: Managing Director The Stock Exchange of Thailand Reference: 1. Capital Increase Report Form (F53-4) 2. Report of Information Memorandum on the

Carnival Magic Project, and compensation for design and construction to related person. (Update) To: Managing Director The Stock Exchange of Thailand Reference: 1. Capital Increase Report Form (F53-4) 2

exchange rates. KBank hence prioritized effective risk management in order to cope with economic uncertainties both at home and abroad. We adopted a prudent credit policy, accounting for customer potential