changes in network OPEX ( excluding cost of TOT partnership + 10% YoY, -1.6% QoQ) and SG&A (+7.1% YoY, -2.6% QoQ) . Net profit was reported at Bt7,615mn, decreasing 5.3% YoY due to higher network and

the domestic demand of the Hot Roll Flat Steel for Q1 2018 and 2019 Total Hot Roll (Unit : Tons) (Excluding Stainless Steel) Quarter 1/2018 Quarter 1/2019 % Change Production 815,487 649,138 -20.40

) (Excluding Stainless Steel) Jan - Jun 2018 Jan - Jun 2019 % Change Production 1,714,282 1,365,140 -20.37% Import 2,011,751 2,044,028 1.60% Export 45,606 4,012 -91.20% Consumption 3,680,427 3,405,156 -7.48

at THB 710 million, +7.5% YoY, with net profit* margin of 11.3%, +20 bps YoY. 1H’19 Net profit* was at THB 1,599 million, +10.7% YoY, with 1H’19 net profit* margin of 12.6%, +60 bps YoY. Excluding the

30:70 stake, respectively to facilitate the expansion of VH management services in Asia (excluding Thailand) 1Q 2018 PERFORMANCE 1Q 2018 P&L SNAPSHOT AND ANALYSIS (THB mn) 1Q 2018 1Q 2017 YoY 4Q 2017

% 0.06 -3117% -1.75 0.26 -773% Note : (1) Adjusted EBITDA refers to EBITDA excluding impact of Stock Gain/(Loss) and NRV (2) Extra items were expenses from raw materials derogation amounting to THB 2,004

0.30 -623% Note : (1) Adjusted EBITDA refers to EBITDA excluding impact of Stock Gain/(Loss) and NRV (2) Extra items were expenses from raw materials derogation amounting to THB 2,004 million net of tax

(Unit : Tons) (Excluding Stainless Steel) Jan - Sep 2018 Jan - Sep 2019 % Change Production 2,661,134 1,974,478 -25.80% Import 2,952,988 3,071,247 4.00% Export 63,492 6,540 -89.70% Consumption 5,550,630

239 22 986% 191 25% EPS (Baht/Share) 0.23 0.02 1,050% 0.19 21% Note: (1) Adjusted EBITDA refers to EBITDA excluding impact of Stock Gain/(Loss) and NRV (2) Extra items were from the reversal of

the domestic demand of the Hot Roll Flat Steel for Q1 2019 and 2020 Total Hot Roll (Unit : Tons) (Excluding Stainless Steel) Quarter 1/2019 Quarter 1/2020 % Change Production 659,249 735,194 11.52