Assets Notifications") has the highest value of 103.44% based on the net tangible assets value method according to the financial statements in which the equity method is applied of the Company ended 31

result of the foregoing, net interest-bearing debt to equity ratio significantly improved from 4.1 times as of December 31, 2016 to 1.4 times as of December 31, 2017 FINANCIAL POSITION 31-Dec-2016 31-Dec

THB 910 million (or +5.0%) from 31 December 2019. The increase in other components of equity was due to the impact from currency translation and the adoption of TFRS 9 Financial Instruments. The

Management Discussion and Analysis Quarter 2 Ending 30 June 2018 G Steel Public Company Limited Page 6/14 Summary of Consolidated Financial Results 30 June 31 December Liabilities and equity 2018 2017

Liabilities 251,227 75 % 239,284 74 % Retained earnings 60,675 18 % 58,252 18 % Others 25,141 7.5 % 25,234 7.8 % Total Equity 85,816 25 % 83,486 26 % Key Financial Ratio 3Q22 2Q23 3Q23 Interest-bearing debt to

% 49,326 15% Other 6,015 1.8% 5,910 1.8% Total Liabilities 251,227 75% 239,463 73% Retained earnings 60,675 18% 62,002 19% Others 25,141 7.5% 25,181 7.7% Total Equity 85,816 25% 87,183 27% Key Financial

% 54,822 17 % Others 25,141 7.5 % 25,145 7.6 % Total Equity 85,816 25 % 79,967 24 % Key Financial Ratio 1Q22 4Q22 1Q23 Interest-bearing debt to equity (times)* 1.1 1.0 1.0 Net debt to equity (times)* 0.9 0.9

’ EQUITY 2,118.54 100.00% 2,345.53 100.00% 2. Financial Status 2.1 Assets As for the assets value as at and 31st March 2020 and 2019, the Company and its subsidiaries had total assets of Baht 2,118.54

1.9% 6,302 1.8% Total Liabilities 274,397 77% 267,116 76% Retained earnings 57,103 16% 57,109 16% Others 24,722 6.9% 25,292 7.2% Total Equity 81,825 23% 82,402 24% Key Financial Ratio 2Q21 1Q22 2Q22

% Retained earnings 57,103 16% 52,880 15% Others 24,722 6.9% 25,333 7.3% Total Equity 81,825 23% 78,214 23% Key Financial Ratio 3Q21 2Q22 3Q22 Interest-bearing debt to equity (times) 1.2 1.1 1.2 Net debt to