demand of Hot Rolled Steel which decreasing compared to the same period of previous year. Table: The production and the domestic demand of Finished Steel in Q1 2018 and 2019 Total Apparent Finished Steel

quarter of 2018 having total steel products consumption at 4.19 million tons, decreased by 4.2%, long steel consumption dropped 21.1% to be at 1.21 million tons, flat steel consumption grew 5.0% to be at

year. Management’s Discussion and Analysis (MD&A) For Q3/2017 8 The production and the domestic demand of Finished Steel in Q3 2016 and 2017 Total Apparent Finished Steel (Unit : Tons) Quarter 3/2016

average selling price decreased considerably due to slowdown in Thai economy, strengthening of Thai Baht, and surge in imports of Alloy Steel and Galvanised HRC post expiry of safeguard duties. While total

and Analysis (MD&A) for year 2017 9 Table : The production and the domestic demand of Finished Steel in 2016 and 2017 Total Apparent Finished Steel (Unit : Tons) 2016 2017 % Change Production 7,957,351

domestic demand of Finished Steel in 2016 and 2017 Total Apparent Finished Steel (Unit : Tons) 2016 2017 % Change Production 7,957,351 6,865,628 -13.72% Import 12,614,629 11,326,134 -10.21% Export 1,294,821

Analysis (MD&A) For Q3/2018 3 Executive Summary The total apparent finished steel consumption of steel industry in Thailand in the third quarter of 2018 surged to 4.66 million tons, an increase of 11.1

members The use prior to the disposal Manufacture and trader for steel pipe and structural steel products 5. Total value of consideration The Subsidiary Company has disposed the Land and Buildings at Baht

" 4G"7 LH/!I /9 -9: I L:H-9 !XGI 9 !"HIO-9:4G" 2/2560 8 2 2559 2560 Total Apparent Finished Steel (Unit : Tons) Quarter 2/2016 Quarter 2/2017 % Change Production 2,407,293 1,707,444

Imports of Alloy Steel and Galvanized HRC into Thailand due to strengthening of Thai Baht and removal of Safeguard duties on Alloy Steel in February 2019. The total shipment volume dropped by 40% and