in sale quantity and production cost. Performance Revenue from sale and cost of sale The Company and subsidiary recorded a sales volume of 1,449,290 tons for the year 2018, increased by 66,524 tons

decrease of production together with Graphite Electrode’s price which part of conversion cost higher than same period of last year. Performance Revenue from sale and cost of sale Total revenue from sales and

investment which is non-cash transaction. Segmental performance 1. Expressway business The Company had revenue from Expressway business of Baht 2,521 Million, representing an increase from the same quarter of

from other international sales revenue. In addition, the Company and its subsidiaries will continually focus on the performance recovery by strict cost control and cost reduction, ramping up asset

of 2017, the Company had a short-term loan for purpose of increasing working capital. 5. Performance of the Company and its Subsidiaries Management’s Discussion and Analysis (MD&A) For Q1/2018 11

) 3,593 13 23 (3,025) 3,616 (6,641) (100%) Impact of lease income 661 (86) - - 661 (86) 747 100% Net Profit (Loss) (2,377) 3,507 13 23 (2,364) 3,530 (5,894) (100%) For focusing on the operating performance

2nd Quarter 2018 Page 2 of 13 Overall Financial Performance and Profitability Business Segment 2Q 2018 2Q 2017 Change 6M 2018 6M 2017 Change THB million % THB million % THB million % THB million % THB

rate The Company had recorded loss on exchange rate for 2nd Quarter of 2018 amounted to THB 184 million due to the devalued in THB currency against US Dollar. 5. Performance of the Company and its

directors’ meeting and the shareholders’ meeting of the Seller shall have granted approval for the transfer of the acquired assets to the Buyer, and for the execution of the Agreement and performance of the

% EBITDA margin 45.4% 47.1% 41.5% Net profit margin 20.6% 24.3% 21.5% 1As shown in financial statement, excluding minority interest. PERFORMANCE ANALYSIS (2Q 2018/19 vs 2Q 2017/18) VGI continued to