Management Discussion and Analysis for Interim Business Operations Financial Performance for the year ended December 31 , 2018 (Unit : M ill ion Baht) 2018 2017 Inc./(Dec.) % Construction income

Group. For the income proportion separating by business structure consisted of Aviation refueling services at 81% and Fuel pipeline transportation services at 19% respectively. 1.1.2 Others Income Others

of New Branches Opened (1) (Branch) 14 8 Number of Branches at Period End (1) (Branch) 102 110 Number of Franchise Branches at Period End (1) (Branch) 127 145 Sales from Restaurant Business During the

. For the income proportion separating by business structure consisted of Aviation refueling services at 81% and Fuel pipeline transportation services at 19% respectively. 1.1.2 Others Income Others

Group. Page 3 of 6 For the income proportion separating by business structure consisted of Aviation refueling services at 82% and Fuel pipeline transportation services at 18% respectively. 1.1.2 Others

active customers of 2.15 million IDs, mainly from Bangkok 31%, and in up-country 69%. Details of each business can be described as follows: - Credit Card Credit cards turnover shared 54% of total turnovers

ค่าใชจ่้ายเก่ียวกบัการใชด้ชันีอา้งอิง (Reference Index Expense) 11.98 0.03 ค่าใชจ่้ายอ่ืน ๆ **(Other Expense**) 5.43 0.014 รวมค่าใชจ่้ายทั้งหมด * (Total*) 267.67 0.72 ค่าใชจ่้ายในการซ้ือขายหลกัทรัพย์

, comprised decrease of interest rates of loans from bank since the fourth quarter of 2019. Additionally, bank also cut MLR rate in the first and the second quarters of 2020. Tax income (expense) Q2-2019 Q1

from Baht 25.1 million to Baht 35.7 million and increase 35.8% 6M YoY from Baht 51.4 million to Baht 69.8 million due to loan addition for the new investment projects. Tax income (expense) Q2-2020 Q1

30 September 2019 G Steel Public Company Limited Page 1/20 บริษัท จี สตีล จํากัด (มหาชน) G Steel Public Company Limited 2. Business Outlook During the shutdown period from February 2019 to April 2019