, U City’s total interest-bearing debt was THB 18,761mn, a decrease of 8% or THB 1,583mn from the balance as of 31 December 2018. This was mainly due to the loan repayment and reclassification of Assets

Steel Public Company Limited Management Discussion and Analysis Yearly Ending 31 December 2018 G Steel Public Company Limited Page 5/15 Commitments and off-balance sheet liabilities management The Company

forward on its Balance Sheet Strengthening Strategy and achieved a major milestone during the quarter by successfully issuing Rights Offering for THB 1,503 Million to its shareholders, which was

in 1H2018 to Baht 1,566.2 million in 1H2019, or increase by 18.0%. Normalized EBITDA increased from Baht 6 2. FINANCIAL POSITION The Consolidated Balance Sheet as of 30 June 2019 is summarized as

according to the raw material price in the global market, together with the higher competition between the operators. 4 (Unit: Baht million) Consolidated balance sheets As at 30th Jun 2019 As at 31st Mar 2019

from the balance as of 31 December 2018. This was mainly due to the loan repayment and reclassification of Assets Held for Sale and Discontinued Operations, partially offset by long-term loan facilities

direction primarily by considering the balance of three dimensions – economy, society and environment – under good corporate governance, appropriate risk management and effective cost management. At the same

balance is expected to be used for the subscription of shares in the announced rights offering of MACO and expansion of the digital and online-related businesses. 1 In 1Q 2018/19, VGI recorded receivables

30-Jun-18 Million Baht 6 The Consolidated Balance Sheet as of 30 June 2018 is summarized as follows. Assets As at 30 June 2018, the Company’s total Assets was Baht 22,845.2 million, increased by Baht

million, up by THB 37 million, or 3.5%, from the balance at the end of 2017. Cash Flows As of 30 June 2018, the Company reported cash and cash equivalents of THB 576 million, a decrease of THB 445 million