Company Limited had income for the 9 months period decreased from the previous 0.59 %, but the gross profit increased from the previous year 6.85 %. due to the company tried to control costs and adjust

depreciation 27% 29% -2% 25% 26% -1% Other income /(expenses) 4.33 5.00 -13% 18.53 15.29 21% Financing cost 3.83 0.58 556% 8.45 2.98 184% Tax (Note) 17.10 18.57 -8% 48.63 10.64 357% Net profit 75.08 74.43 1

Equity and Debt Service Coverage Ratio. Even though Safari Group increases its debt level for Carnival Magic Project, it is confident that Carnival Magic Project will generate stable income and profit for

Management Business.” 4.1 Net profit and Total Comprehensive Income for Q4/2019 and year ended December, 31 2019 Consolidated Unit: Baht million 2019 2018 Change (% yoy) Q4-19 Change (%qoq) Change (% yoy

parent 63.6% 60.0% 63.0% 58.9% 61.2% Remark: * EBITDA = Earnings before interest, taxes, depreciation and amortization - non-operating income / (expense) ** Normalized net profit = Net profit – unrealized

280,438 5% Total expenses 5,863,159 9,470,477 -62% Profit (loss) before income tax expense (869,346) (430,965) 50% Income tax expense - - Profit (loss) for the period (869,346) (430,965) 50% Other

Company Limited Page 10/10 G Steel Public Company Limited and its Subsidiaries Statements of comprehensive income Consolidated financial statements As at 31 December + ( - ) % 2019 2018 (in Baht) Profit

% 498 170.5% Profit (loss) before tax expense (income) (3,358) -8.1% 2,376 4.5% (5,734) (241.3%) Tax expense (income) (839) -2.0% 608 1.2% (1,447) (238.0%) Profit (loss) for the period (2,519) -6.1% 1,768

, decreasing by 12% as compared to the same period last year of 224 million Baht. The Company had operating profit before financial costs and income tax, excluding reversal of impairment loss from investments

all branches of ELEGA showroom that could not generate the income and profit as aimed in order to decrease the fixed cost and the administrative expenses since the 2nd quarter of 2019. However, the