of Thailand 1. Analysis of Operating Results and Financial Position for the Company and its subsidiary 1.1 Analysis of Operating Results for the Company and its subsidiary for the 3-month period ended

result of the foregoing, net interest-bearing debt to equity ratio significantly improved from 4.1 times as of December 31, 2016 to 1.5 times as of September 30, 2017. FINANCIAL POSITION 31-Dec-2016 30-Sep

Consolidated Financial Results 31 March 31 December Liabilities and equity 2018 2017 + (-) % (in million Baht) Equity Share capital Authorised share capital 48,776 48,776 Issued and paid-up share capital 34,251

performance and financial position for the second quarter and six-month ended June 30, 2019 with those of 2018. This report discusses principal changes in the unaudited consolidated financial statements

financial position for the second quarter and six-month ended June 30, 2019 with those of 2018. This report discusses principal changes in the audited consolidated financial statements. Overall market

Financial Results 31 March 31 December Liabilities and equity 2019 2018 + (-) % (in thousand Baht) Current liabilities Short-term loans from financial institution 212,503 212,503 0% Trade accounts payable

Discussion and Analysis Quarter 2 Ending 30 June 2019 G Steel Public Company Limited Page 8/12 Consolidated Statement of Financial Position (Continued) 30 June 31 December Liabilities and equity 2019 2018

financial statements for the year ended December 31, 2019 as follows: Overview of Operating Performance Company and its subsidiaries had revenue classified by product category consist revenue from the

Million. Significant Financial Ratios* Description Unit 3rd Quarter 2019 2018 Net Profit Margin ratio % 21.60 26.12 Return on Equity ratio % 8.24 10.85 Return on Total Assets ratio % 3.21 4.04 Debt to

&A) Consolidated Financial Results For The Year 2018 For the year ended December 31st, 2018 Consolidated Profit & Loss of NPPG (THAILAND) PCL., Unit : Million Thai Baht (THB) Y 2018 Y 2017 Change %YoY