THB 25 million, which was mainly due to increasing of PP&E value of THB 213 million which came from investment in ME2 project amounted to THB 198 million, offsetting by depreciation of PP&E of THB 118

the increasing in the Company’s total revenue. 44 หมู่ 4 ถ.แจง้วฒันะ ต.ปากเกร็ด อ.ปากเกร็ด จ.นนทบุรี 11120 โทร +66 2836 9990 โทรสาร +66 2106 4858 44 Moo 4 Chaengwattana Road, Pakkred, Nonthaburi 11120

Margin (Bht/Ton) 897 834 Unit : million Baht 30-Jun-18 31-Dec-17 Total Assets 31,971 32,172 Total Liabilities 20,418 19,781 Total Equity 11,553 12,391 Gr ou p HR C Gr ou p บริษัท จี สตีล จ ำกัด (มหำชน) G

Total Equity (273) 172 Minority 9,570 9,928 Gr ou p HR C Gr ou p บริษัท จี สตีล จ ำกัด (มหำชน) G Steel Public Company Limited Management Discussion and Analysis Quarter 1 Ending 31 March 2019 G Steel

Equity (ROE) (%) 25.09% 21.16% 3.93% Return on Assets (ROA) (%) 16.71% 13.16% 3.55% Remark: * Calculated based on the number of issued and paid-up ordinary shares deducted by the number of treasury share

dropped by 0.7% yoy. The increasing revenues of Dusit Thani Pattaya Hotel and Dusit Laguna Phuket Hotel offsetting news about the closure of Dusit Thani Bangkok Hotel, which caused overall revenue of Owned

UE, which ws funded by a capital increase via issuance of preferred shares last quarter. The majority of assets acquired by EBT of UE was the BTS- Sansiri JV (Sansiri JV)  Net debt to equity ratio as

of Ordinary Shares (Million Shares) * 947.96 947.96 - - Return on Equity (ROE) (%) 22.44% 21.16% 1.28% Return on Assets (ROA) (%) 14.68% 13.16% 1.52% Remark: * Calculated based on the number of issued

increasing or decreasing from changes of inventory at the end of period. Page 2 2. Overview of Domestic Economy and Ready-to-Drink Fruit Juice Market In 2019, moving Annual Total (MAT) Year 2019 of domestic

totaled 1,251.02 million Baht, decreased by 60.57 million Baht or -4.62% compared to the same period of 2019, as total sales volume was reduced. Net profit attributable to equity holders of the parent