2018 FINANCIAL POSITION ASSETS ASSETS BREAKDOWN 31 MARCH 2017 31 DECEMBER 2017 (Restated) (THB mn) % out of total (THB mn) % out of total Cash & cash equivalents and short-term investments 1,210 15.2

, the Company spent THB 296mn on capital expenditure, primarily in property, plant & equipment purchased and investment properties. CASH FLOW (THB mn) For the three-month period ended 31 March 2019, cash

Selling Price (THB./ton) 20,702 17,403 HRC Cash Margin (THB./Ton) 891 1,033 Unit: million Baht 30 June 2018 31 December 2017 Fin an cia l St at us Total Liabilities 5,774 5,492 Total Asset 19,743 19,546

accounting, recognition of any resultant gain or loss depends on the nature of the item being hedged. In case of Cash Flow hedges, only the effective portion of changes in the fair value of the derivative

depends on the nature of the item being hedged. In case of Cash Flow Hedges, only the effective portion of changes in the fair value of the derivative financial instrument is recognized in other

& ANALYSIS 2019 14 FEBRUARY 2020 U CITY PCL 2019 - MD&A (for the year ended 31 December 2019) 9 U CITY PCL 2,797 2,767 204 488 85 (807) Beginning Cash 1 Jan 19 CFO CFI CFF Others Ending Cash 31 Dec 19 CFO

ordinary shares in BSH 15. MANAGEMENT DISCUSSION & ANALYSIS 1Q 2020 15 MAY 2020 U CITY PCL 1Q 2020 - MD&A (for three-month period ended 31 March 2020) 8 U CITY PCL CASH FLOW As of 31 March 2020, cash and

Page 12 and joint ventures decreased equity in the amount of THB 535.72 million, and the cash flow hedge reserve decreased equity in the amount of THB 230.77 million. However, currency translation

Financial Position Unit: THB million Statement of Financial Position Q1/2018 2017 2016 2015 Cash 263.23 195.47 312.5 149.29 A/R Net 260.9 345.22 276.17 403.63 Inventories - - 1.46 2.89 Current assets 656.59

Price (Bht./Ton) 18,529 16,348 HRC Cash Margin (Bht./Ton) 1,848 2,427 Unit: million Baht 2017 2016 Gr ou p Total Assets 32,437 32,615 Total Liabilities 20,059 21,747 Total Equity 1,364 10,868 Average