activities Baht 848 million  Net cash flows used in investing activities Baht 48 million from purchasing of property, plant and equipment Baht 116 million, proceeds from disposal of investment in subsidiary

Magnolia Quality Development Corporation Limited Magnolia Quality Development Corporation Limited ("MQDC") used the proceeds obtained from the debenture offering, which is inconsistent with

for the repayment from the creditor. • Short-term loan from related parties decreased Baht 34 million. • Advances received from customers increased Baht 65 million. • Accrued interest expenses increased

Public Company Limited Management Discussion and Analysis Quarter 2 Ending 30 June 2018 G Steel Public Company Limited Page 4/14  Net cash flows used in investing activities Baht 35 million which proceeds

provided by operating activities Baht 749 million  Net cash flows used in investing activities Baht 4 million which proceeds from disposal of investment in subsidiary Baht 68 million and purchasing of

and Analysis Quarter 1 Ending 31 March 2018 G Steel Public Company Limited Page 4/12  Net cash flows used in investing activities Baht 62 million which proceeds from liquidation of subsidiary Baht 68

% Short-term loan from related parties 811,362,306 1,269,363,868 -56% Short-term loan from other parties - 107,424,045 -100% Loan from shareholder 3,850,000 3,850,000 0% Advances received from customers

shareholder 4 4 0% Advances received from customers 203 204 (1%) Other payables and accrued expenses 7,147 3,506 104% Accrued interest expenses 4,937 3,969 24% Provisions 270 3,156 (91%) Other current

-term loan from other parties 107 137 (22%) Loan from shareholder 4 4 0% Advances received from customers 203 204 (1%) Other payables and accrued expenses 7,147 3,506 104% Accrued interest expenses 4,937

related parties 123,661 1,269,364 (90%) Short-term loan from other parties - 107,424 (100%) Loan from shareholder 3,850 3,850 0% Advances received from customers 69,563 42,666 63% Other payables and accrued