บริษัท ผาแดงอินดัสทรี จำกัด (มหาชน) และบริษัทย่อยบริษัท ผาแดงอินดัสทรี จำกัด (มหาชน) และบริษัทย่อย Padaeng Industry Public Company Limited and its subsidiaries

Management Discussion and Analysis (MD&A) Padaeng Industry Public Company Limited and its subsidiaries For the year ended December 31, 2019 1 | Padaeng Industry Public Company Limited and its

of Padaeng Industry Public Company Limited at its meeting, No. 03-2017 on 7 August 2017 has approved that the Company invest short term Bill of Exchange which is considered as related parties

Beneficiary We refer to our letter of notice; ref. PDI/BK-BS-044/2017 dated 8 th August 2017 regarding the Board of Directors of Padaeng Industry Public Company Limited at its meeting, No. 03-2017 on 7 August

Padaeng Industry Public Company Limited and its subsidiaries _______________________________________________________________ Management Discussion and Analysis (MD&A) For the three-month and six

quarter of 2017, Padaeng Industry Public Company Limited announces a consolidated net profit of 268.39MB, compared to a net profit of 125.54MB for the same quarter previous year. For the full year 2017

quarter of 2017, Padaeng Industry Public Company Limited announces a consolidated net profit of 210.75MB, compared to a net profit of 100.60MB for the same quarter of previous year. For the first half of

the third quarter of 2017, Padaeng Industry Public Company Limited announces a consolidated net profit of 113.53MB, compared to a net profit of 221.45MB for the same quarter previous year. For the 9

Company had resolved the resolution to the Company that it shall cease metals trading business at the end of the first quarter of 2019. Padaeng Industry Public Company Limited and its subsidiaries (“the

(dormant company). Padaeng Industry Public Company Limited (the “Company”) would like to notify that the Board of Directors’ Meeting No. 04-2019 which was convened on Friday 9 August 2019 resolved to approve