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Corporates Financial Spreading

Customer information

BMCnr: -

Obligor name: Al Ezz Steel

Branch / Affiliate: -Statement published in: E!

Amounts in: "housands

Standard #ndustrial Classification $S#C%Code: -

&ast fiscal 'ear: September-()

Consolidated: *es

Auditor: +!M

Opinion: ,nualified

!rofit . &oss StatementE! "housands Sep-(

,nualified

0et sales (

Cost of goods sold 0

Depreciation 0

ross !rofit (

Depreciation 0

SG&A expense 0

Provisions 0FX gain (or loss) 0

Good will aoti!ation 0

"t#er aorti!ation 0

0et operating profit $EB#"% (

Gross iterest exp--exist 0

$nterest exp--new 0

%rite offs 0

$nterest $ncoe 0

"t#er incoe'ot specified 0

*it+ incoe (associatesot#ers) 0

G, fro sale of fix assets & operations 0Gains fro sale of s*s & ot#er 0

0et !rofit Before "a1 (

.otal tax expense (

C*rrent tax expense 0

Deferred tax expense 0

0et !rofit After "a1 (

/inorit+ interest expense 0

Gainloss on sale of plant 0

"t#er extraordinar+ ite 0

"t#er extraordinar+ ite 0

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0et profit (

Preferred dividends 0

Coon dividends 0

"t#er ad*stent 0

"otal Change in 2/E (

BA&A0CE S3EE"E! "housands Sep-(

,nualified

ASSE"S

Cas# 0

.ie deposits 0

/ar1etale sec*rities 0

Acco*nts receivale 0

,ess2 allowances 0

0et recei4ables (

3aw aterials 0

%or1 in progress 0

Finis#ed goods 0

G$. "t#er 0

,ess2 allowances 0

0et in4entor' (

Advance pa+ent 0

4D*e fro sister co (st) 0

"t#er receivales 0

"t#er c*rrent asset 0

"O"A& C,22E0" ASSE"S (

,and and *ildings 0

/ac#iner+ & e*ipent 0

"t#er e*ipent 0

Constr*ction in progress 0ross pp.e (

,ess2 acc**lated dep 0

0et plant propert' . euipment (

$nvestents (associates) 0

D*e fro sisters (,t) 0

,t receivales 0

Deferred tax asset 0

Prepaids & accr*als 0

Goodwill 0

"t#er intangile asset 0

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,ess2 acc*5 aorti!ation 0

0et intangibles (

"O"A& 0O0-C,22E0" ASSE"S (

"O"A& ASSE"S (

5St related to intercompan' operational transactions

BA&A0CE S3EE"E! "housands Sep-(

,nualified

AB#"#ES . E6,#"*

S#ort ter orrowing--existing 0

S#ort ter orrowing--new 0

Cp senior det--existing 0

Cp senior det--new 0

Cp cap lease 0

Cp s* det--existing 0

Cp s* det--new 0

Acco*nts pa+ale 0

Accr*ed expenses 0

Down pa+ents 0

4D*e to sister co (st) 0

.axes pa+ale 0

$nterest pa+ale 0

Dividends pa+ale 0"t#er c*rrent liailit+ 0

"O"A& C,22E0" AB#"#ES (

,t lease oligation 0

,t senior det--existing 0

,t senior det--new 0

,t s* det--existing 0

,t s* det--new 0

"O"A& &O0-"E2M 7EB" (

D*e to sister co (,t) 0

Pension and siilar provisions 0

3estr*ct56 warrant+ and ot# prov5 0

Deferred taxes 0

S#are#olders loan 0

"O"A& AB#"#ES (

/inorit+ interest 0

Preferred stoc1 0

Coon stoc1 0

Additional paid-in capital 0

3etained earnings opening 7607869:;

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Pl*s2 net profit (

,ess2 dividends (

"t#er ad*stents (

2etained earnings closing 89(89;E! "housands

EB#" $0E" O!E2A"#0 !2OF#"%

> Depreciation

> Aorti!ation

EB#"7A

- .axes paid

2OSS O!E2A"#0 CAS3 F&O? $CO!A"%

> c#g 'et receivales

> c#g 'et inventor+> c#g Advance pa+ent

> c#g 4D*e fro sister co (st)

> c#g Acco*nts pa+ale

> c#g Accr*ed expenses

> c#g Down pa+ents

> c#g 4D*e to sister co (st)

Net Chg Working Investment

> c#g Prepaids & accr*als

> c#g "t#er receivales

> c#g "t#er c*rrent asset

> c#g "t#er c*rrent liailit+

CAS3 AF"E2 C,22E0" O!E2A"#O0S $CACO%

- $nterest paid

- Cp ,td--existing

- Cp ,td--new

- Cp lease

- Preferred dividends

Financing payment

- Coon dividends paid

Total fianancial charges (financing pmt+dividends)

CAS3 F&O? BEFO2E #0@ES"#0

- 'et plant expendit*res

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> c#g $nvestents (associates)

> c#g ,t receivales

> c#g 'et intangiles

> $nterest $ncoe

> "t#er incoe'ot specified

> S*ndr+ incoe (expense)

> Gainloss on sale of plant

> "t#er *n*s*al ite

CAS3 F&O? BEFO2E F#0A0C#0

> c#g Std

> c#g ,td

> c#g ,ease

> c#g ,t gro*p finance

> c#g ,t provisions

> c#g /inorit+ interest

> c#g S#are#olders loan

> c#g *it+

C3A0E #0 CAS3

"pening cas# alance

Closing cas# alance

3econciliation

O!E0#0 CAS3 BA&A0CE

Cas# flow fro operations

Cas# flow fro investing

Cas# flow fro financing

NET CA! F"#W

C&OS#0 CAS3 BA&A0CE3C"'C$, CAS? F,"%

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Sheet

version 85:

Al Ezz Steel

Sep-(= Sep-()

,nualified ,nualified

( 889;;9)8

0 (9670:6@@@)

0 (9;)

( 998

0 0

0 (8B:6:;0)

0 0- B6B:7

0 0

0 0

( 9=(9=8

0 (B:06:7@)

0 0

0 0

0 :@6@0

0 BB6@8:

0 0

0 00 0

( 9(

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( ;8)98

0 0

0 0

0 (:68B@689;)

( $9

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0 0

( (

( 8(9;;;9(=

( 89)98(

Al Ezz Steel

Sep-(= Sep-()

,nualified ,nualified

0 @9867:

0 0

0 76::6;B

0 0

0 0

0 0

0 0

0 @869:7

6:

;90609;

::608@

B60@

B86@87

806;797;B6;:8

( 989)=

0 99699B

0 60;6:

0 0

0 0

0 0

( 98=9

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( ;8)98

( (

( $

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0 (:6:78)

0 (@6:70)

0 0

0 :@6@0

0 BB6@8:

0 0

0 (8)

0 0

( $;98(9);%

0 @9867:

0 B69086008

0 99699B

0 0

0 7@96B:

0 767:06B

0 0

0 0

( $898(=98%

0 0

0 76:@6:@9

='A ='A

( (

0 76@8;6780

0 (706;996908)

0 @6;@687

( $898(=98%

( 89

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BMCnr: -

Obligor name: Al !! Steel

Branch / Affiliate: -

BA&A0CE S3EE"

"housands "housands "housands

Assets Sep-( Sep-(= Sep-() &iabilities

,and & *ildings 0 0 :68996B77 Preferred S#ares

/ac#inese*ipent 0 0 7868006@7 Coon S#aresCapital

"t#er fixed assets 0 0 ;:697 Additional Paid in capital

Constr*ction in progress 0 0 @060B 3etained earnings

3istricted reservesross fi1ed assets ( ( 8=9988 "t#er reserves

C*rrenc+ transl5 Ad*st5

Acc*5 Depreciation (-) 0 0 (B6B0@6:7;) .reas*r+ stoc1 (-)

0et fi1ed assets ( ( 8(9)=9; 0E" ?O2"3

D*e fro sisters (lt) 0 0 0

,t receivales 0 0 @6:70 'et intangiles (-)

$nvestents 0 0 :6:78 "A0#B&E 0E" ?O2"3

"t#er non c*rr5 assets 0 0 80@689 S*ordinated det

/inorit+ $nterest

F#E7 ASSE"S ( ( 8(9;;;9(= O?0 D ASSOC MEA0S

,oans to s#are#olders

%or1 in progress 0 0 706:; D*e to sister copanies (lt)

Finis#ed goods 0 0 697 Deferred taxes

3aw aterials 0 0 @9:6B9: "t#er long ter lia5prov5

"t#er $nventor+ 0 0 760B600B ,ong ter det an1

Allowances5(-) 0 0 (B06000) ,ong ter capital lease

.otal inventor+ ( ( 9

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Corporates E1ecuti4e 2eport

Statement !ublished in: GP Consolidated:Amounts in: .#o*sands Auditor:

S#C Code: - Opinion:

&ast fiscal 'ear: Sep-0@ 7ate !rinted:

!2OF#" . &

"housands "housands "housands "housands

Sep-( Sep-(= Sep-() Sep-( !ercentage

0 0 0 .*rnoverSalesGross 3ev5 0 700E

0 0 977697 G3"SS .3AD$'G P3"F$.,"SS 0

0 0 0 Salaries and wages (-) 0

7607869:; 7607869:; (76:8@680B) "t#er operating expenses (-) 0

0 0 :688688: "perating provisions (-) 0

0 0 00 0 0 EB#"7A (

0 0 (:B6) Depreciation & aorti!ation (-) 0

7607869:; 7607869:; :6:@760@B

EB#" (

0 0 0 Associates (Gro*p Coss*sid etc) 0

7607869:; 7607869:; :6:@760@B $nterest (gross) (-) 0

0 0 0 "t#er financial incoeexp (>-) 0

0 0 769@B68@7

7607869:; 7607869:; B6:;6:; O!E2A"#0 !2OF#" AF" F#0A0 (

0 0 0 xtraordinar+ gains,osses 0

0 0 0 Gain,oss on asset sales 0

0 0 :6888

0 0 7@96B: !2OF#" BEFO2E "A . M#0 #0" (

0 0 60;6: .axation (-) 0

0 0 99699B /inorit+ interest (-) 0

0 0 6@;670 0E" !2OF#"/&OSS (

0 0 ::608@ Dividends (E pa+o*t ratio) 0

0 0 @869:7 CAS3 F&O? S,MMA2*

0 0 @9867: Gross operating cas# flow

0 0 806;79 C#ange in wor1ing investent

0 0 76::6;B C#ange in ot#er c*rrent assets & c*rr5 liailities

0 0 B;6;:: CAS? AF.3 C33'. "P3A.$"'S (CAC")

0 0 BB6@8 .ot fin c#arge(div6 int6 cap int6 c*rr at6 oper5leases)

'. "P3A.$'G CAS? F,"% AF.3 F$'A'C$'G C?A3GS

0 0 B6786@8; 'on oper5 $tes

89(89;

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version 85:

Ies

HP/G

n*alified

88-'ov-7B

SS

"housands "housands

Sep-(= !ercentage Sep-() !ercentage

0 700E 7769986@7 700E

0 8669:@ 8E

0 (8B:6:;0) -8E

- 'A B6B:7 0E

0 0

@A&,EG @A&,EG 9=898( H

0 (9;) 0E

@A&,EG @A&,EG 9=(9=8 H

0 0

0 (B:06:7@) -E

0 9:679: 7E

@A&,EG @A&,EG 9(

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2atio Sheet

BMCnr: -Obligor name: Al Ezz Steel

Fiscal 'ear end: Sep-()

Al Ezz Steel

3ef # Operations Sep-( Sep-(=

37 Gross argin 'A 'A

38 "perating argin (

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8: "wn & associated eans 7607869:; 7607869:;

8 Cas# after c*rrent operations (CAC") - -

8B Financial c#arges - -

8; Capital plo+ed 7607869:; 7607869:;

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version 85:

Sep-() "rend

857E 'A

8850E 'A

'A 'A

875E 0577

05: 'A05:8 'A

9589 'A

95;0 'A

:75:9 'A

8508 7507

859 75@

59 'A

85B@ 'A

@58 'A

Sep-()

7769986@7

9670:6@@@

8667

86;06;78

9;

-

86;7670

B:06:7@

-97@67BB

76;B86B98

68B@6:@

:0B687:

86:B96:@B

@869:7

969706:

B6786@8;

;6@967:7

-

-

769@B68@7

:6:@760@B

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B6:;6:;

76@8;6780

8:;69@@

786706@@

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Obligor 2ating Sheet Score#ndust

Obligor name Al !! Steel 2ating model Corporate clients &ast appro4ed O22 -

BMCnr - Model 4ersion 85: Standard . !oorIs -

Annuals used Sep-0@6 Sep-0;6 Sep-0B Sheet date - Mood'Is -

Financial Assessment

6uantitati4e !illar ?eight >ithin !illar @alue Assessment "rend Score

Operations

Gross argin :0E 850E =3FJ =3FJ =3FJ

"perating argin 80E 88508E =3FJ =3FJ =3FJ

ESales growt# :0E 'A =3FJ na =3FJ

3et*rn on capital eplo+ed 80E 875@BE =3FJ =3FJ =3FJ

&iuidit'

C*rrent ratio 80E 05: =3FJ =3FJ =3FJ

*ic1 ratio 80E 05:8 =3FJ =3FJ =3FJ

3eceivales da+s 80E 9589 =3FJ =3FJ =3FJ

$nventor+ da+s 80E 95;0 =3FJ =3FJ =3FJ

Pa+ales da+s 80E :75:9 =3FJ =3FJ =3FJ

Capital structure

Gearing ::E 8508 =3FJ =3FJ =3FJ

Financial leverage ;@E 859 =3FJ =3FJ =3FJ

Cash flo> . debt ser4ice

$nterest coverage (fro