income surged significantly, especially the 19% increase in bad debt recovery. However, this year the Company will focus on fee-based income expansion. Revenues Structure Profit and Loss Statement Unit

Analysis Yearly ending 31 December 2019 G Steel Public Company Limited Page 9/9 G Steel Public Company Limited and its Subsidiaries Statements of comprehensive income Consolidated financial statements As at

net profit increased by Baht 172 million or 23% even though the company did not receive dividend income from Ratchaburi Power Company Limited (RPCL) as in Q1/2017. The increase in net profit is mainly

every segment. There is a positive structural change in PET business in the western markets due to financial stress with two major PET producers operating in these markets. PET margins are recovering back

86.71 million, with significant operating results as follows. (Million Baht) 2019 2018 Increase /(decrease) %change Revenues from sales 789.92 666.36 123.56 18.54% Other revenues 7.58 6.76 0.82 12.13

for Q2/2017 ended June 30, 2017 of the Company and its subsidiaries, as shown below : (Unit : Million Baht) Q2/2017 Q2/2016 Change Revenue 222 210 12 Gross profit margin 80 83 (3) Expenses 20 20

shown below: (Unit : Million Baht) 2017 2016 Change Revenue 837 849 -1.4% Gross profit margin 293 342 -14.3% Selling Expenses 80 96 -16.7% Doubtful debts from the voiding of contract 320 - 100.0% Finance

Quarter 3 2017 Increase / (Decrease) % Change Revenues from sales 157.19 77.29 79.90 103.38% Other revenues 0.18 0.34 (0.16) (47.06%) Total revenues 157.37 77.63 79.74 102.72% Cost of sales 57.43 31.62

to submit our management’s discussion and analysis for the second quarter in 2019, ended on June 30, 2019 as follows: (Unit : Million Baht) Jan - Jun 2019 Jan - Jun 2018 Increased/ (Decreased) % Change

change in operating assets and liabilities Baht 410.0 million, decreased of operating assets Baht 483.5 million, increased of operating liabilities Baht 39.2 million and decreased of cash paid for income