Management’s Discussion and Analysis (MD&A) For Q1/2018 1 1. Highlights G J Steel Public Limited Management’s Discussion and Analysis (MD&A) Q1/2018 Unit: million Baht 1st Quarter 2018 1st Quarter

PUBLIC COMPANY LIMITED Filing FinancialStatement 56-1 56-2 Ranking PERM PERMSIN STEEL WORKS PUBLIC COMPANY LIMITED Filing FinancialStatement 56-1 56-2 Ranking PCE PETCHSRIVICHAI ENTERPRISE PUBLIC COMPANY

FinancialStatement 56-1 56-2 Ranking ML MIDA LEASING PUBLIC CO., LTD. Filing FinancialStatement 56-1 56-2 Ranking MILL MILLCON STEEL PUBLIC COMPANY LIMITED Filing FinancialStatement 56-1 56-2 Ranking MGC Millennium

1 G J Steel Public Limited Management’s Discussion and Analysis (MD&A) for year 2018 Unit: million Baht Year 2018 Year 2017 Pe rfo rm an ce Revenues 29,910 15,178 Sales Volume (k tons) 1,447 812

. For the three-months ended 30 June Items Increased (Decreased) 2019 2018 Amount Percentage 1 Revenue from steel tower manufacturing 147.39 242.37 (94.98) (39.19) 2 Revenue from sale of industrial

same period of year 2016 is shown in table 1 below. Table provides an overview of performance. For the three-months ended 30 June Items Increased (Decreased) 2019 2018 Amount Percentage 1 Revenue from

in table 1 Table 1 provides an overview of performance. 2 Unit : Million Baht For year ended of December 31 Items Increased (Decreased) 2018 2017 Amount Percentage 1 Revenue from steel tower

Steel 23 Construction Services 250.00 1 15,447.10 4 1,820.10 2 3,300.00 2 180.00 1 4,600.00 2 3,250.00 2 940.00 2 4,000.00 2 11,200.00 3 500.00 1 3,000.00 1 8,015.20 2 724.50 2 500.00 1 10,500.00 3

: World Steel Association หมายเหตุ : 1. Worldsteel ได้ยุติการรายงานอัตราการใช้ก าลังการผลิตเหล็กดิบของโลกรายเดือน เนื่องด้วยเหตุผลบางประการ โดยข้อมูลใน ส่วนน้ีสามารถดไูด้จาก www.oecd.org ด้านราคาเศษเหล็ก

present which can demonstrate as the following: 1. Highlights 1 G J Steel Public Limited Management’s Discussion and Analysis (MD&A) for year 2018 (Revised) Own production Tolling Total Own production