increase of total sales volume, especially from thruput volume through service stations, which has the second largest market share and is constantly on the rise. However, intensifying market competition has

$/BBL, a decline of 19.69 $/BBL, or a decline approaching of almost 40% from the previous quarter. This has affected the performance of the refinery business. Moreover, the Thai economy, especially

. 14.7 Beta The mutual fund’s volatility in comparison to the market shall be displayed as one of the statistical data indicating risks in fund prices in response to the volatility of the stock market of

TRANSLATION Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference. Notification of the Office of the Securities and

Chart of hot-rolled coil reference prices on world market for Q1/2013 – Q3/2017 Processed price data from: Metal Expert Overview of Thai Steel Industry ISIT had reported the domestic steel-production Q3

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

shall include managing director or equivalent which is called differently; “Market price” means price of equity instrument in securities exchange or price of debt instrument which was offered by Thai Bond

Thai Bond Market Association, as the case mat be; “Association” means association related to securities business authorized from the Office to establish and register with its objective to support and

called differently; “Market price” means price of equity instrument in securities exchange or price of debt instrument which was offered by Thai Bond Market Association, as the case mat be; “Association

- Translation - Page 1 of 6 CBG 006/2020 20 February 2020 Subject Management discussions and analysis for the fiscal year ended 31 December 2019 To President The Stock Exchange of Thailand We