merchandise exports contracted in response to the weakening global economy and sustained Baht appreciation. In addition, the contraction in merchandise exports has affected private consumption and investment

controlled by SSG Capital Holdings Limited (“SSG CH”), SSG Capital Partners III, L.P. (“SSG III”) and Kendrick Global Limited (“KG”) (collectively referred to as the “SSG Group”). SSG Group had seriously

segment, 1Q 2018 production increased to 947 thousand tons, up by 8% year-on-year, with operating rates at 87%, underpinned by stronger demand for our products, tighter global supply/demand balance and

with the inflation target. Thailand’s economic growth in 2019 is expected to be 3.8 percent. Although merchandise exports and tourism revenue are expected to grow at a slower rate given weakening global

dispute that may affect the assets of the Company as follows: On January 31, 2017, the Company entered into a service agreement with Midas Global Media Company Limited (“Midas”) to provide advertising time

services 29.87 1.64 26.02 1.34 19.07 0.99 15.72 1.04 10.92 0.80 Revenue sharing from photography services 18.63 1.02 5.93 0.31 - - - - - - Other operating 29.83 1.63 26.28 1.36 31.25 1.62 23.11 1.54 23.33

E_1 Legal_FA_2015_12_29-c A CCoorrppLL44..11hhiigg A Executive Summary Management Discussion and Analysis For the Quarter Ended June 30, 2017 The global economy in the second quarter of 2017

. Chart of world crude steel production monthly, ending 30 September 2017 Source: World Steel Association Such the situation showed that global crude steel production continues to increase and was moving in

the year, it was in line with the recovery of the overall global demand. Tourism also showed continuous growth with the number of foreign visitor arrivals for the first 11 months of 2017 totaling 31.8

a low growth of only 0.5% yoy, with growth in line with the recovery of the overall global demand. Tourism also showed continuous growth with the number of foreign visitor arrivals for the year 2017