3Q2016 predominantly from cost advantage from lower major feed material price and the growth in chicken export volume. In addition, the consolidated EBITDA in 3Q2017 was THB 896.18 million, an increase of

Ref. No. IVL 005/11/2019 11 November 2019 The President The Stock Exchange of Thailand Subject: Submission of Quarterly Review of Financial Statements and the Management Discussion and Analysis of

Imports of Alloy Steel and Galvanized HRC into Thailand due to strengthening of Thai Baht and removal of Safeguard duties on Alloy Steel in February 2019. The total shipment volume dropped by 40% and

Company Limited entered into the MRT Blue Line Concession Agreement with the Mass Rapid Transit Authority of Thailand (the “MRTA”) on March 31, 2017 for the concession period of 33 years. The MRT Blue Line

million for 9M’2016 to Baht 7,007 million for 9M’2017. ► The volume of electricity sold to industrial users in Thailand increased 12.2% year-on- year from 1,978,419 MWh for 9M’2016 to 2,219,217 MWh for 9M

1 G J Steel Public Limited Management Discussion and Analysis Quarter 2 Ending 30 June 2019 Unit: million Baht 2nd Quarter 2019 2nd Quarter 2018 Pe rfo rm an ce Revenues 3,928 7,815 Sales Volume (k

MD&A Q4_2018 (Eng.) February 21, 2019 Subject : Yearly Management Discussion and Analysis of 2018 Attention : President of The Stock Exchange of Thailand We attach herewith the financial statements

1 Translation CEN 015-2019 November 14, 2019 Subject : Management Discussion and Analysis for business operation in Quarter 3-2019 To : The Manager and President The Stock Exchange of Thailand

Stock Exchange of Thailand The Company wishes to present the Management Discussion & Analysis (MD&A) on the operating and financial status for the year 2017. The MD&A would enable the investors to better

several financial institutions. Industry Overview In 2017, chicken production in Thailand is recovered; an increase of 4.61% from 2016 is accounted. The factors that drive overall chicken situation are