spare part and equipment. Net loss, cause from the epidemic of COVID-19. Steel demand decrease and lead to price reduction. The difference between selling price and raw material cost per ton (Metal spread

Million for Last Year Quarter mainly due to increase in loss on devaluation of Finished Goods and Raw Material by THB 158 Million and lower Foreign Exchange Gain by THB 95 Million compared to Last Year

company is still positive to see an improving of metal spread comparing to Q4/18. 2. Business Outlook on Q4/2018 Own production Tolling Total Own production Tolling Total HRC Sales (k tons) 226 192 418 182

. Moreover, a stagnant of Thai economy in the first half of 2017 causes a lower demand of steel consumption. According to ISITCs data, total apparent finished steel consumption of Thailand for the first 6

same trend as in Q4/17. We strongly believe that we can increase production capacity and also maintain the metal spread to strengthen the Company business. 2. Business Outlook on Q1/2018 Management’s

stable and will moving in the same trend as in Q4/17. We strongly believe that we can increase production capacity and also maintain the metal spread to strengthen the Company business. 2. Business Outlook

, raw materials, were also increased in the same trend of HRC price, nevertheless, the Company was able to maintain growth in metal spread in this quarter rose to THB 8,093 per ton, increasing from the

for Q1/2014 – Q4/2019 Processed price data from: Metal Expert GJS บริษัท จ ีเจ สตีล จํากดั (มหาชน) G J Steel Public Company Limited Management Discussion and Analysis Year Ending 31 December 2019 G J

Chart of raw material reference prices on world market for Q1/2013 – Q3/2017 Processed price data from: Metal Expert Hot Rolled the prices for hot-rolled coil on the world market during the first quarter

reference prices on world market for Q1/2014 – Q4/2018 Processed price data from: Metal Expert 8 G J Steel Public Limited Management’s Discussion and Analysis (MD&A) for year 2018 Hot Rolled the prices for