Q1-2017 (THB 18,695/ton) due to the decrease in HRC market price worldwide and a stagnant of Thai economy in the first half of 2017 causes a lower demand of steel consumption. Management’s Discussion

: THAI WACOAL PUBLIC COMPANY LIMITED WAVE: WAVE ENTERTAINMENT PUBLIC COMPANY LIMITED WFX: WORLD FLEX PUBLIC COMPANY LIMITED WGE: WELL GRADED ENGINEERING PUBLIC COMPANY LIMITED WHA: WHA CORPORATION PUBLIC

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parks under the management of Thai Bonnet Trading Zone Co. , Ltd. ( Bangpoo Industrial Estate ( North) ) and World Industrial Estate Co., Ltd. (formerly known as Suburb Estate Company Limited) (Lamphun 2

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Page 1 Enclosure 5. Information Memorandum on the Acquisition of Assets of Safari World Public Co., Ltd.; An increasing of investment cost (No. 2) Enclosure 5. Information Memorandum on the

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. Management’s Discussion and Analysis (MD&A) for year 2017 8 Chart of hot-rolled coil reference prices on world market for Q1/2013 – Q4/2017 Processed price data from: Metal Expert Overview of Thai Steel Industry