OPEC’s lowered heavy crude export after production limitation were put in place since the past January. While the closure of Japanese refineries 10 | Management Discussion and Analysis of Business

significantly higher loss from the past. Currently, the Company has limitation in submitting an application for the bank to issue a letter of guarantee, which affects to operation in core business as to

seriously needed in order to cope with the more dynamic business environment. Management’s Discussion and Analysis (MD&A) for year 2017 7 The raw material reference prices on the world market are that the HMS

and Analysis (MD&A) for year 2017 (Revised) 7 The raw material reference prices on the world market are that the HMS 1&2 (80:20 ratio) scrap USA export price of the fourth quarter of 2017 was averaged

The Stock Exchange of Thailand Reference: 1. Information Memorandum on the Issuance and Offering of the Newly Issued Shares through Private Placement (PP) of Safari World Public Company Limited 2

The Stock Exchange of Thailand Reference: 1. Information Memorandum on the Issuance and Offering of the Newly Issued Shares through Private Placement (PP) of Safari World Public Company Limited 2

ชดุ code ทีก่ าหนด (รหัสประเภทสนิทรัพย/์หนีส้นิ) 401 = สัญญาฟิวเจอรส์ 402 = สัญญาฟอรเ์วริด์ 3 Underlying Asset รายละเอยีดของ Reference Underlying ทีส่ัญญาอา้งองิ varchar(500) 4 Underlying Type ประเภทของ

Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference (UNOFFICIAL TRANSLATION) Readers should be aware that only the

Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference (UNOFFICIAL TRANSLATION) Readers should be aware that only the

of the Board of Directors Meeting No. 2/2019 and the convening of the 2019 Annual General Shareholders Meeting To President Stock Exchange of Thailand Reference Letter to the President of the Stock