from the US foreign trade policies and retaliatory measures by major advanced economies as well as volatility in the global financial markets. In the meantime, the domestic political situation warrants

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

tons) 197 377 EBITDA 155 132 Net Profit (Loss) (72) (451) HR C HRC Sales (k tons) 197 377 HRC Production Volume (k tons) 204 363 HRC Average Selling Price (THB./ton) 19,891 20,709 HRC Cash Margin (THB

167mn Impacts of Coronavirus Disease 2019 (COVID–19) COVID-19 is profoundly impacting the global economy, especially the hospitality sector which is the main business of the Company. Almost all of our

borderless marketplace of the ASEAN Economic Community (AEC). Given the increased degree of uncertainty in global economies, especially pressure from a looming trade war among core economies and their

percent compared to 4.2 percent in the previous year.The slowdown could be attributed to exports which contracted further due to the stronger Baht and a global economic slowdown. In addition, the investment

, especially global economic fluctuations and unresolved political issues. Businesses have also had to contend with new regulations and government projects. All of these factors affected the performance of KBank

EBITDA (228) 602 Net Profit (Loss) (433) 366 HR C HRC Sales (k tons) 177 388 HRC Production Volume (k tons) 139 382 HRC Average Selling Price (THB./ton) 19,160 20,942 HRC Cash Margin (THB./Ton) (58) 1,937

in Thailand 18 December 2018: Establishment of a new subsidiary as part of hospitality business restructuring. The Company established a new, wholly- owned subsidiary, U Global Hospitality Company

Unit: million Baht 2 nd Quarter 2017 2 nd Quarter 2016 Group Revenues 3,276 3,278 Group Sales Volume (k tons) 188 188 Group EBITDA 64 613 P er fo rm an ce Group Net Profit (Loss) (233) 183 HRC Sales (k