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for the housing estate is located In accordance with the Sale and Purchase Agreement as of March 20, 2018, the Company is responsible to transfer the allocation license and 3 plots of assets which are

Ratchathewi”. “Origin Smart City Rayong” brand, Kensington Rayong 1 and Kensington Rayong 2, 90% booking and Housing under “Britania” brand, Britania Bangna-Suvarnabhumi. 3. Administrative expenses, in the

Management’s Discussion and Analysis (MD&A) For Q3/2017 1 1. Highlights G Steel Public Limited and its Subsidiaries Management’s Discussion and Analysis (MD&A) Q3/2017 (Additional) Unit: million Baht

house and condominium unit attributed to the rise in total revenue. 3Q19 Net profit at THB 222m, or 38% decline YoY, primarily due to gain from exchange rate at THB 312m realized in 3Q18. The ESSE at

of operating results for the year 2019, Ended of December 31, 2019 Unit : Million Baht Power Generation Others Total Change Increase (Decrease) 2019 2018 2019 2018 2019 2018 Amount % Total Revenues

and more service content to every unit of product sold was realised. This is encouraging for future performance as volumes recover and start to grow again. Even under these trying conditions, Golden

/2018 results from the increases in COGS and the loss from foreign exchanges in 2019 Management Discussion and Analysis Q3/2019 Q3/2018 Q3/2019 Change 9-month 2018 9-month 2019 Change Unit : THB mm Total

subsidiary company are as follows: Unit: Million THB Sales Volume Amount Backlog Handed Over in 2020 To Hand Over in 2021 Total 1. Residential Condominium 1,870 1. Residential Condominium 2,300 800 3,100 2

generate further savings – all in all with an inevitable lower sales volume, but also lower cost base, we expect the per unit EBITDA generation to remain intact in 2020, and as from 2021 onwards we expect to