Page 2 Management Discussion and Analysis 1. Significant events in the third Quarter of 2018  The progress in construction projects - Xayaburi Project, a project of the Xayaburi Power Company Limited

and THB 631.63 million, decreased by THB 271.45 million or 42.98%. Represent a significant portion of the total revenues of 93.37% and 95.85%. - In 3rd quarter of 2018, Products sold 15,708 tons at

and/or directors of the Company which are different from those of the Board of Directors under Clause 9. None. 11. Significant contentious litigations or claims None. 12. Director or indirect interests

Adjustment (TFRS 15) of Baht 413.7 million. Therefore, the 9M2019 Normalized Profit attributable to Owners of the Parent was Baht 1,470.7 million, a 18.6% increase from 9M2018. Significant Events in 3Q2019

volumes were lower than last year quarter mainly due to the termination of tolling agreement with G Steel Public Company Limited in February 2019 resulting to significant decrease in sale volume and

and used cash flow in the following activity. The company paid net cash for operating activities in the amount of 4.12 million Baht. There are significant transactions as follows: (1) The company has

the disposition of assets, the Company will still have the same business nature as usual having no significant changes in business characteristics or policies. The Company can hire outsourcing companies

by 33.5 percent and 26.6 percent from the same periods of previous year. The significant other income is income from scrap sales which were the results from the processing of cold rolled stainless

consolidated of GFPT Public Company Limited ( “ GFPT” or “ the Company” ) and its subsidiaries ( collectively, “ GFPT Group” ) for the 1st Quarter 2020 as well as included any significant transactions occurred

Discussion and Analysis 1. Significant events in the first Quarter of 2020 1.1. The progress in construction projects - Gangdong Fuel Cell Project (Gangdong), a project of Paju Energy Services Co.,Ltd. (Paju