To : President The Stock Exchange of Thailand K. W. Metal Work Public Company Limited (the “Company”) would like to submit management discussion and analysis for the three month-period and six month

. (“the Company”) and its subsidiaries earned revenue from rendering of goods and services THB 45,535 million, an increase of 3% YoY and a decline of 7% QoQ, net profit THB 395 million; of which net profit

reduced Market GRM, following the decline in refinery production volume due to the TAM, as well as a decrease in average Gasoline/Dubai crack spread and Fuel oil/Dubai crack spread, and the rise in crude

Ref. No. IVL 004/02/2020 26 February 2020 The President The Stock Exchange of Thailand Subject: Submission of Annual Audited Financial Statements and the Management Discussion and Analysis of

1 --Translation- Sor Gor 75/2017 July 21, 2017 Subject: Management Discussion and Analysis for the second quarter ended June 30, 2017 (Unaudited) To: The President The Stock Exchange of Thailand

1 --Translation- Sor Gor 85/2017 August 24, 2017 Subject: Management Discussion and Analysis for the second quarter ended June 30, 2017 (Audited) To: The President The Stock Exchange of Thailand

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

company had the stock loss & NRV amounting to THB 28 million due to the decline of CPO price. Operating performance comparison between 3Q2018 vs. 2Q2018 Compared to 2Q2018, the company’s ME Business Unit

statements due to limitation on scope of audit imposed by the STHAI management in various matters including quantities and unit prices of inventories, allowance for decline in value of inventories, and

Baht 7.18 million, a decline of 2,453.53%. The Company would like to clarify significant changes in the Group’s operating results as follows: 1. Revenues from sales and services for the year 2018