PUBLIC COMPANY LIMITED FOR THE THREE-MONTH PERIOD ENDED MARCH 31, 2019 1. STATEMENTS OF COMPREHENSIVE INCOME 1.1 Revenues from sales and services (Unit: Million Baht) For the ended March Movement 2019 2018

, ending 30 June 2017 Source: World Steel Association Management’s Discussion and Analysis (MD&A) For Q2/2017 GSteel 6 The main raw materials (Pig iron, shredded scrap) the price movement of the main raw

2019 G Steel Public Company Limited Page 4/20 บริษัท จี สตีล จํากัด (มหาชน) G Steel Public Company Limited Cash Flow • Net cash flows used in operating activities Baht 468 million • Net cash flows used

Baht 20.42 million. Cash flow The Company saw operating cash flow at Baht 12.40 million and cash flows used for investment activities at Baht 169.98 million, which were spent on construction of the

the same period of last year, due to the sale of ordinary shares in the second quarter. Cash Flow For the nine-month operating period ending 30 September 2017, the Company saw operating cash flow

movement due to the revenue is denominated in USD Expected Benefit Company expects that projects shall create the IRR of at least 10% 6. Benefits which the company will receive from the capital increase and

The main raw materials (Pig iron, shredded scrap) the price movement of the main raw materials, i.e. scraps and pig iron, had more fluctuated since the first quarter of 2016, by increasing in the first

equivalents amounting to 7,540 MTHB, increasing 2,327 MTHB or 45% comparing to 5,213 MTHB at the end of 2017. (see further information in analysis of cash flow) 2. The balance of trade receivables at the end of

payment to shareholders and operating profit increased amount Baht 8.70 million. Cash Flow Statement Analysis Unit : MB For the period ended For the period ended Change 31 December 2019 31 December 2018 MB

MTHB or 63% comparing to 3,207 MTHB at the end of 2016. (see further information in analysis of cash flow) 2. The balance of trade receivables at the end of 2017 was 2,605 MTHB, increasing by 633 MTHB