was thus reduced to 29% in 2019 as compared to 37% in 2018. To regain the market share and reduce imports, the Company had to resort to very competitive pricing which impacted the EBITDA adversely

activities. Overall Domestic HRC market conditions remained subdued with downward pressure on HRC prices due to global trade tensions, high levels of imports and slowdown in Thai economy. While various

repaid the loan cause this expense has been reduced. 8. Share of profit (loss) from investment in associated company In year 2017, share of profit from investment in associated company was Baht 29.26

Cannot be calculated as there is no share issuance Calculation details of the transaction size of the investment in Target Group Hotels and Resorts Basis of calculation Transaction size 1. Net tangible

31 December 2018 (Audited) (Restated) % Change Cash and cash equivalents 127 122 +4% Trade receivables 891 705 +26% Inventories 676 897 -25% Other current assets 121 173 -30% Total current assets 1,814

(4.16) (4.07) NP 76.71 8.16 77.04 7.97 (0.33) (0.43) EPS (Baht per Share) * 0.08 0.08 - - Weighted Average Number of Ordinary Shares (Million Shares) * 947.96 947.96 - - - 5 - Description Year 2017 Year

by 0.72 Million Baht or 27.08% the main cause is due to expand product sales in the Modern Trade. 2. Dividend income 6.04 Million Baht decrease from the same period last year by 4.84 Million Baht. This

8.50 million the Group has applied a simplified approach to determine the lifetime expected credit losses for trade account receivable and Reversal of doubtful debts in the amount of 0 .61 million baht

Company Limited Page 2/2 2. Business Outlook While the Company is gradually regaining its market share back post shutdown from February 2019 to April 2019, the current slowdown continues to pose challenges

% 1,856 -80% 1,112 4,009 -72% Basic earnings per share (Baht) 0.27 0.38 1.35 0.81 2.91 Note: 1/ EBITDA from Refinery Business of the Company, BCP Trading Pte. Ltd. and share of profit from associated