should be more careful (because, on average, they earn less but live longer. • MOST Thais can be MILLIONAIREs if they start to save NOW. 15

-approved and backlog, 70% higher than the sales at the end of 2019. Although, MK received a lot of bookings from customers, MK was very careful in ordering the construction of new housing units. The Company

support from the new Shareholder, we are positive to be more competitive in term of cost resulting the positive bottom line is achievable. Refer to the HRC price in Q3/17, we have seen the improvement of

100,000 tons per month. HRC and scrap price is stable for this quarter comparing to Q3/17 while the market demand is also stable so far. We are positive to record the growth of production volume by 6

- Translation - Page 2 of 6 THB 407 million and THB 1,019 million for the 3-month and 9-month periods ending 30 September 2017, respectively. ICUK continues to gain positive momentum in terms of sales. The sales

incurred a net loss of Baht 834 million in 2018, compared with the year 2017 with a net profit of Baht 990 million, however, the Company’s EBITDA was still remain positive at Baht 612 million in 2018. 3

positive at Baht 612 million in 2018. 3. Management’s Message 3 G J Steel Public Limited Management’s Discussion and Analysis (MD&A) for year 2018 (Revised) Overview of World Steel Industry Chart of world

was immediately put for overhaul and could be commissioned by 1st week of March, 2019. Since then the operations have gradually stabilized with Positive EBITDA posted for March 2019. As a result, this

according to accounting standard, and partly from narrowing of spread margin. Nevertheless, EBITDA in Q2/2018 still remained positive at THB 119 million. Comparing to the same period of last year which the

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