) Explaining the guideline for administrating, managing or solving the case that the proceeds from capital increase are not sufficient or there is a situation which causes the change of absorption costing

hot-rolled coil on the world market during the first quarter of 2016 to fourth quarter of 2018 had more fluctuated by moving from the lowest point at price level below USD 300/mt in the first quarter of

1,386 million, or earning per shares of THB 1.01. The company and its subsidiaries performance improved, especially the Refinery Business Group which still maintains its average crude run at a high level

days 69 72 63 Cash Conversion Cycle days 81 75 66 Finanial data and profitability ratios Sales revenues million baht 49,269 46,887 46,938 %change (%) 5.1% (0.11%) 6.51% Gross profit million baht 12,547

increasing compared to the previous year. Table: The production and the domestic demand of Finished Steel for 2017 and 2018 Total Apparent Finished Steel (Unit : Tons) 2017 2018 % Change Production 6,875,446

2018 Total Apparent Finished Steel (Unit : Tons) 2017 2018 % Change Production 6,875,446 7,106,526 3.36% Import 11,325,592 12,051,411 6.41% Export 1,553,242 1,713,317 10.31% Consumption 16,647,796

(Unit : Tons) Quarter 1/2018 Quarter 1/2019 % Change Production 1,967,321 1,705,204 -13.32% Import 2,842,507 2,851,271 0.31% Export 436,428 399,792 -8.39% Consumption 4,373,400 4,156,683 -4.96% Source

cannot generate revenue immediately; some investments are not fully utilized or have not reached an optimal level yet; and some projects are delayed. Thus, costs per unit climbed up at this point; 4

CONSTRUCTION EXECUTIVE SUMMARY EXECUTIVE SUMMARY 2 Q1’19 Q4’19 Q1’20 change change Btmn Btmn Btmn y-on-y q-on-q Sales and service income 10,257 11,258 11,223 9.4% (0.3%) EBITDA* 2,413 2,938 3,278 35.8% 11.6% Net

The financial expenses in 2017 were 16.91 million baht decreased from previous year which were at 7.77 million baht. Comparing in term of percent of revenues, the ratio is not much change. It was at