Revenue Structure

2015 2016
Steel 22,585,958,233,245 28,854,964,753,230
Agriculture 1,331,968,401,801 1,394,967,085,418
Other Industrial Production 2,472,399,094,213 2,597,815,381,257
Real Estates 1,062,606,385,074 435,462,940,082
Total 27,452,932,114,333 33,283,210,159,987

Source: HPG
Revenue Structure
70,000,000,000,000

60,000,000,000,000

50,000,000,000,000

40,000,000,000,000

30,000,000,000,000

20,000,000,000,000

10,000,000,000,000

0
2015 2016 2017 2018

Steel Agriculture
Other Industrial Production Real Estates

Agriculture
2015 2016
% Revenue 4.85% 4.19%
Growth 4.73%

Source: HPG

Agriculture
14.0%

12.0%

10.0%

8.0%

6.0%

4.0%

2.0%

0.0%
2015 2016 2017 2018 2

% Revenue Growth
2.0%

0.0%
2015 2016 2017 2018 2

% Revenue Growth
Revenue Structure
2017
39,737,649,059,975
2,895,444,258,381
2,768,232,079,356
760,366,216,592
46,161,691,614,304
2018
46,424,438,557,484
4,596,184,638,620
3,143,642,159,185
1,672,193,024,470
55,836,458,379,759
2019
51,233,120,178,424
7,985,316,066,488
2,817,712,434,540
1,622,043,994,339
63,658,192,673,791

Revenue Structure Sales Growth and Gross Margin

45.00%
40.00%
35.00%
30.00%
25.00%
20.00%
15.00%
10.00%
5.00%
2015 2016 0.00%
2017 2018 2019
2015 2016 2017 2018 20
Steel Agriculture Sales Gross Margin
Other Industrial Production Real Estates

Agriculture
2017 2018 2019
6.27% 8.23% 12.54%
107.56% 58.74% 73.74%

Agriculture Gross Profit Contribution 2018 & 2019

120.0%
6%
5% 100.0%
8% 6% 80.0%
4%
2% Steel
Agriculture
60.0%
Other Industrial
Production
40.0% Real Estates

20.0%
87%
0.0%
2016 2017 2018 2019
82%
% Revenue Growth
 20.0%
87%
0.0%
2016 2017 2018 2019
82%
% Revenue Growth
 Growth Rate
2015 2016 2017 2018 2019
Sales 7.55% 21.24% 38.69% 20.96% 14.01%
Gross Margin 20.38% 26.29% 23.02% 20.90% 17.57%

Source: HPG

d Gross Margin

017 2018 2019

Gross Margin

Gross Profit
2018 2019
Steel 9,749,132,097,072 9,221,961,632,116 Source: HPG
Agriculture 275,771,078,317 878,384,767,314
Other Industrial Production 471,546,323,878 507,188,238,217
Real Estates 652,155,279,543 632,597,157,792
Total 11,148,604,778,810 11,240,131,795,439

019

el
riculture
her Industrial
duction
al Estates
 Growth of Construction Steel Production
2011 2012 2013 2014 2015 2016 2017
Market 1% -8% 3% 14% 24% 26% 12%
HPG 11% -5% 14% 43% 38% 31% 21%

Source: VSA, HPG

Construction Steel Growth

50%
43%
38%
40%
31%
30% 24% 26%
21%
20% 14% 14% 16%
11% 12% 10%
9%
10% 6%
1% 3%
0% -5%
2011 -8%
2012 2013 2014 2015 2016 2017 2018 2019
-10%

-20%

Market HPG
 Construction Steel
2018 2019 2018 2019 Construct
10% 6% HPG 23.8% 26.2%
9% 16% Pomina 9.8% 8.1%
Posco SS 9.1% 7.6% 26
Vina Kyoei 8.3% 8.6%
35.8% 23.8%
TISCO 7.6% 7.5% 36.0%
Formosa Hà Tĩnh 5.4% 6.2%
Other 36.0% 35.8% 9.8%

5.4% 9.1%
Source: VSA 7.6% 8.3%
6.2% 7.6
7.5% 8.6%
Steel Pipe
2018 2019
1%
16%
HPG 27.5% 31.5%
2% 10%
9% Hoa Sen 17.3% 15.3%
6% Minh Ngọc 8.4% 9.6% Stee
TVP 7.9% 8.2%
017 2018 2019 SeAH VN 7.6% 7.0%
20.8%
Việt Đức 6.7% 7.7%
Other 24.6% 20.8% 24.6% 2

Source: VSA 7.7%

6.7%

7.0% 7.6% 1
7.9% 8.4%
8.2%
9.6%
 Construction Steel

HPG
26.2% Pomina
35.8% 23.8% Posco SS
36.0% Vina Kyoei
TISCO
9.8% Formosa Hà Tĩnh
8.1% Other
5.4% 9.1%
7.6% 8.3%
6.2% 7.6%
7.5% 8.6%

Steel Pipe

HPG
20.8%
Hoa Sen
31.5% Minh Ngọc
24.6% 27.5%
TVP
SeAH VN
7.7%
6.7% Việt Đức
Other
7.0% 7.6% 17.3%
7.9% 8.4%
8.2% 15.3%
9.6%
 Shareholders Note
Trần Đình Long 25.35% Chairman Sha
Vũ Thị Hiền (Wife) 7.34% Wife
Trần Vũ Minh (Son) 1.45% Son
Dragon Capital 7.65%
VOF 4.88% VOF Investment Limited
Deutsche Bank 8.60%
Other 44.73% 45%

9% 5
 Shareholders

Trần Đình Long

Vũ Thị Hiền (Wife)
25% Trần Vũ Minh (Son)
Dragon Capital
45% VOF
Deutsche Bank
7%
Other
1%
8%
9% 5%
 Public Investment Project
Projects Total Investment (Bil VND) Time
Long Thành Airport 114,450 2021 - 2025
North-South Highway 101,218 2020 - 2025
Dầu Giây - Liên Khương Highway 65,000 2019 - 2025
Metro No.2 Bến Thành - Tham Lương 47,800 2014 - 2019
Bến Lức - Long Thành Highway 31,320 2015 - 2018
Trung Lương - Mỹ Thuận - Cần Thơ Highway 19,597 2015 - 2019
Cam Lộ - La Sơn - Túy Loan Highway 19,200 2015 - 2018

Source: Ministry of Planning & Investment

 Dung Quất Project Expansion
Start 2017 2023 (estimate)
Fixed Capital
Area 430 ha 166 ha
Complete 2020 After 2026 Equipment
Total Investment 60,000 Bil VND 60,000 Bil VND Basic Construction
Wattage 4 mil tons/ Year 5 mil tons/ Year Other
Working Capital
Source: HPG
Source: HPG
 Total Investment (Bil VND)
50,000
(Equity capital: 30,000; Borrowing: 20,000)
32,000
15,000
3,000
10,000
Time Billet Steel Construction Steel
22/03/2020 - 21/03/2021 15.3% 9.4%
22/03/2021 - 21/03/2022 13.3% 7.9%
22/03/2022 - 21/03/2023 11.3% 6.4%
0% 0%
From 22/03/2022
(If not extense)
 HPG POM Formosa
Blast furnace type BOF EAF BOF Total Asset
Maximum capacity (Dec 2019) 3,600,000 2,600,000 5,800,000 NI
Market Share (Dec 2019) 26.20% 8.10% 6.20% ROA
 HPG DBC
5,962,449,415,148 9,591,924,923,000
558,544,533,791 305,130,242,224
9.37% 3.18%
 Fe Iron Billet HRC Cold Rolled Coil Galvanized hot deep steel
Value (USD/ton) 60 320 376 441 574 687
Value added (%) 0% 433% 18% 17% 30% 20%

Steel Porduction Value Added Chain

900 500%
814
800 433% 450%
687 400%
700
600 574 350%
300%
500 441
376 250%
400 320 200%
300 150%
200 100%
100 60 18% 17% 30% 20% 18% 50%
0 0% 0%
Long Steel
Fe Iron Billet HRC Cold Rolled Galvanized Organic
Coil hot deep coated steel
steel
Flat Steel

Value (USD/ton) Value added (%)

Source: Steel on the net

 Organic coated steel
814
18%

ed Chain
500%
814
450%
687 400%
350%
300%
250%
200%
150%
100%
20% 18% 50%
0%
ed Galvanized Organic
hot deep coated steel
steel

added (%)
 2015 2016 2017 2018 2019
ROA 13.7% 19.9% 15.1% 11.0% 7.4%
ROE 24.2% 33.3% 24.7% 21.2% 15.9%
Interest influence 0.94 0.96 0.95 0.95 0.91
Leverage 1.76 1.67 1.64 1.93 2.13

Management Effective
35.0% 2.13 2.50
30.0% 1.93
1.76 1.67 2.00
25.0% 1.64
20.0% 1.50
0.94 0.96 0.95 0.95 0.91
15.0% 1.00
10.0%
0.50
5.0%
0.0% 0.00
2015 2016 2017 2018 2019

ROA ROE
Interest influence Leverage
 2015 2016 2017 2018 2019
CF from operating activities 4,543 6,819 6,058 7,642 7,715
CF from investing activities -3,764 -3,128 -17,926 -20,533 -18,064 15,000
CF from financing activities -433 -1,505 11,574 11,143 12,378 10,000
5,000
0
2015 20
-5,000
-10,000
-15,000
-20,000
-25,000

CF from o
CF from fi
 Cashflow
15,000
10,000
5,000
0
2015 2016 2017 2018 2019
-5,000
-10,000
-15,000
-20,000
-25,000

CF from operating activities CF from investing activities

CF from financing activities
 Steel Production Forecasting
2020F 2021F 2022F 2023F 2024F
Construction steel & Billet 3,700,000 5,000,000 6,500,000 8,125,000 10,156,250
Steel pipe 825,880 908,468 999,315 1,099,246 1,209,171
Galvanized steel coils 120,000 120,000 120,000 120,000 120,000
Sales Growth 27.51% 29.08% 27.03% 23.16% 23.63%

Steel Production Forecasting

12,000,000 35.00%
29.08%
10,000,000 27.51% 27.03% 30.00%
23.16% 23.63%
25.00%
8,000,000
20.00%
6,000,000
15.00%
4,000,000
10.00%
2,000,000 5.00%

0 0.00%
2020F 2021F 2022F 2023F 2024F

Construction steel & Billet Steel pipe

Galvanized steel coils Sales Growth
 Agriculture Forecasting
2020F 2021F 2022F 2023F
Net Sales 10,780,176,689,759 14,553,238,531,174 19,646,872,017,086 25,540,933,622,211
Growth 35% 35% 35% 30%

Agriculture Forecasting
35,000,000,000,000 36%
35% 35% 35%
30,000,000,000,000 35%
34%
25,000,000,000,000
33%
20,000,000,000,000 32%
15,000,000,000,000 31%
30% 30%
30%
10,000,000,000,000
29%
5,000,000,000,000 28%
0 27%
2020F 2021F 2022F 2023F 2024F

Net Sales Growth

 2024F
33,203,213,708,874
30%
 Porter's Five Forces
Threat of New Entrant 2
Threat of substitution 1
Rivalry within the industry 3
Bargaining power of suppliers 3
Bargaining power of customers 3

Proter's Five Force

Threat of New Entrant
5

Bargaining power of customers Threat of substitution

Bargaining power of suppliers Rivalry within the industry

SWOT
S 4 SWOT Analysis
W 1
S
O 4
5
T 3

T 0 W

O
 Risk
Interest rates risk 2
Exchange rates risk 3
Price fluctuation risk 4
Market risk 5

Risk
Interest rates risk
5

Market risk 0 Exchange rates risk

Price fluctuation risk

SWOT Analysis
S
5

0 W

O
 DATE HPG HSG NKG
### 23.5 8.85 7
### 23.95 9.06 7.25 Relative Share Price Performance
### 24.1 9.03 7.27 80
### 23.65 8.44 6.85 70
### 23.95 7.89 6.65
60
5/8/2020 23.4 7.81 6.66
50
5/7/2020 23.6 7.93 6.77
5/6/2020 22.2 8.12 6.65 40
5/5/2020 21.4 7.7 6.55 30
5/4/2020 21 7.55 6.55 20
### 21.5 7.35 6.47 10
### 21.4 7.35 6.6
0
### 21.95 7.4 6.66 1/5/2015 10/5/2015 7/5/2016 4/5/2017 1/5/2018 10/5/2018 7/5/2019
### 22.1 7.26 6.23
### 21.6 6.79 5.83 HPG HSG NKG
### 20.8 6.67 5.65
### 20.2 6.24 5.32 HPG HSG NKG
### 21.2 6.7 5.67 2015 6.46 6.05 4.16
### 20.7 6.78 5.74 2016 6.03 6.93 3.4
### 20.25 6.5 5.72 2017 7.94 6.68 5.43
### 20.1 6.46 5.62 2018 7.66 5.97 21.97
### 19.95 6.04 5.5 2019 8.61 9.52 26.54
### 19.35 5.65 5.2
### 18.8 5.6 5.2
4/9/2020 18.55 5.6 5.27
4/8/2020 18.7 5.7 5.15
4/7/2020 19 5.57 5.14
4/6/2020 18.85 5.56 5.17
4/3/2020 17.65 5.2 4.84
4/1/2020 17.25 4.86 4.62
### 16.85 4.55 4.4
### 16.35 4.65 4.7
### 16.2 5 4.9
### 16.95 4.9 4.9
### 17.8 5.23 4.62
### 17.1 5.07 4.83
### 17.3 5.42 5.19
### 18.6 5.82 5.58
### 19.15 5.94 6
### 19.7 6.16 6
### 19.2 6.19 6.1
### 19.1 6 6.03
### 19.05 5.9 6.18
### 19.25 6.1 6.48
### 20.55 6.55 6.96
 ### 21.65 7.03 7.38
3/9/2020 20.85 7.07 7.54
3/6/2020 22.4 7.6 8.1
3/5/2020 22.35 7.7 8.25
3/4/2020 22.35 7.7 8.22
3/3/2020 22.3 7.59 8.29
3/2/2020 22.3 7.59 8.29
### 22.35 7.6 8.29
### 22.95 7.8 8.51
### 22.75 7.75 8.39
### 23.1 7.88 8.57
### 22.7 7.77 8.57
### 23.55 8.17 8.8
### 23.75 8.34 8.68
### 23.25 8.06 8.12
### 23.3 8.14 8.13
### 23.75 8.13 8.13
### 23.7 8.06 8.16
### 23.7 7.88 8.17
### 23.8 7.88 8.14
### 23.6 7.84 8.03
### 24.35 8.02 8.15
2/7/2020 24.35 8.12 8.03
2/6/2020 25.2 8.26 8.17
2/5/2020 24.45 8.03 7.8
2/4/2020 24.6 7.95 7.9
2/3/2020 24.55 8.23 7.92
### 24.1 8.15 8.34
### 25.3 8.66 8.84
### 26.3 8.98 9.5
### 25.85 8.55 9.2
### 25.5 8.3 9.21
### 25 8.44 9.9
### 25.3 8.52 9.9
### 25.15 8.45 9.5
### 25 8.1 8.95
### 24.25 7.94 8.75
### 24.2 8.09 8.95
1/9/2020 24 8.09 8.45
1/8/2020 23.45 7.87 7.92
1/7/2020 23.7 7.93 7.73
1/6/2020 24 8.02 7.73
1/3/2020 24.15 7.98 7.59
1/2/2020 24 8.19 7.38
### 23.5 7.81 6.9
### 23.65 7.95 6.9
### 23.55 7.86 6.84
### 23 7.9 6.78
### 23.15 8.1 6.72
### 23.2 8.16 6.66
### 23.05 8.16 6.67
### 23 8.36 6.8
### 22.8 8.13 6.77
### 22.55 8.07 6.75
### 23.15 8.09 6.75
### 23.75 8.42 6.99
### 23.8 8.38 7.11
### 24.2 8.46 6.99
### 24.4 8.32 7
### 24.4 8.39 6.89
### 24.2 8.4 6.5
### 23.85 8.03 6.29
### 23.1 7.99 6.2
### 23.45 8.1 6.22
### 23.45 8.01 6.2
### 22.95 7.85 6.1
### 22.85 7.78 6.06
### 22.6 7.63 6.08
### 22.6 7.76 6.18
### 22.65 7.58 6.06
### 22.25 7.51 6.1
### 22.1 7.61 6.09
### 22 8.18 6.18
### 22.4 8.1 6.21
### 22.8 8.15 6.24
### 22.9 7.9 6.24
### 22.65 7.75 6.23
### 22.65 7.84 6.3
### 22.65 7.8 6.32
### 23 7.88 6.41
### 22.8 7.37 6.35
### 22.7 7.37 6.37
### 22.7 7.4 6.3
### 22 7.35 6.27
### 21.9 7.15 6.06
### 21.75 7.12 6.06
### 21.9 7.2 6.06
### 21.8 7.15 6.05
### 22 7.14 6.06
### 22.2 7.1 6.08
### 22.2 7.25 6.16
### 21.8 7.2 6.1
### 22 7.16 6.12
### 21.85 7.05 6.07
 ### 21.6 7.19 6
### 21.2 6.72 5.8
### 21.4 6.91 5.84
### 21.4 7.17 5.84
### 21.3 7.1 5.83
### 21.35 7.16 5.79
### 21.45 7.32 5.8
### 21.5 7.41 5.8
### 21.5 7.38 5.82
### 21.9 7.2 5.83
### 21.9 7.16 5.83
### 21.3 7.26 5.83
### 21.35 7.36 5.75
### 21.55 7.09 5.75
### 21.75 7 5.62
### 21.9 6.86 5.59
### 21.95 6.7 5.58
### 22.15 6.54 5.62
### 22.25 6.47 5.69
### 21.9 6.48 5.67
### 22.15 6.55 5.75
### 22 6.55 5.76
### 22.65 6.62 5.8
### 22.95 6.49 5.73
### 23 6.52 5.73
### 22.7 6.51 5.7
### 22.65 6.42 5.78
### 22.6 6.51 5.79
### 22.55 6.6 5.79
### 22.05 6.64 5.73
### 21.3 6.49 5.75
9/9/2019 21.2 6.63 5.97
9/6/2019 21.4 6.61 6.03
9/5/2019 21.7 6.65 6.03
9/4/2019 21.6 6.7 6.06
9/3/2019 21.65 6.78 6.15
### 22.2 6.82 6.28
### 22.15 6.68 6.26
### 22.25 6.75 6.26
### 22.4 6.86 6.41
### 22.8 6.84 6.4
### 23.4 7.11 6.5
### 23.05 7.1 6.65
### 23.2 6.76 6.43
### 22.9 6.59 6.3
### 23.05 6.6 6.27
### 23.05 6.64 6.36
 ### 23.25 6.73 6.47
### 23.45 6.75 6.5
### 23.45 6.75 6.42
### 23.6 6.85 6.35
8/9/2019 23.1 6.9 6.2
8/8/2019 23.3 6.83 6.11
8/7/2019 22.1 6.82 6.1
8/6/2019 21.75 6.92 6.11
8/5/2019 22.15 7.05 6.1
8/2/2019 22.45 7.3 6.1
8/1/2019 22.6 7.31 6.14
### 22.55 7.34 6.08
### 21.5 7.28 6.05
### 22.1 7.3 6.1
### 22.55 7.41 6.1
### 22.4 7.5 6.08
### 21.55 7.49 6.06
### 21.7 7.5 6.11
### 20.75 7.5 6.08
### 20.6 7.65 6.17
### 20.95 7.62 6.2
### 21.35 7.61 6.2
### 21.6 7.63 6.2
### 21.45 7.48 6.22
### 21.9 7.3 6.22
### 21.55 7.22 6.3
### 21.35 7.34 6.34
7/9/2019 21.35 7.46 6.34
7/8/2019 21.75 7.48 6.26
7/5/2019 22.3 7.56 6.26
7/4/2019 22.3 7.5 6.18
7/3/2019 22.15 7.52 6.15
7/2/2019 22.6 7.67 6.25
7/1/2019 23 7.7 6.25
### 23.5 7.42 6.36
### 22.55 7.37 6.2
### 22.9 7.51 6.4
### 23.1 7.58 6.41
### 23.35 7.7 6.24
### 23.7 7.73 6.28
### 23.6 7.72 6.47
### 23.85 7.68 6.4
### 23.05 7.7 6.1
### 22.45 7.68 6.12
### 22.95 7.82 6.14
### 23 7.77 6.18
### 23.1 7.78 6.25
 ### 23 7.86 6.27
### 22.9 7.75 6.22
6/7/2019 22.95 7.64 6.12
6/6/2019 22.7 7.64 6.13
6/5/2019 23.8 7.77 6.14
6/4/2019 24.3 7.82 6.06
6/3/2019 31.5 7.81 6.05
### 32.1 8.13 6.19
### 32 8.27 6.26
### 32.5 8.39 6.3
### 32.05 8.44 6.18
### 32.2 8.3 6.03
### 32.15 8.16 6.31
### 32.75 8.21 6.3
### 33 8.16 6.4
### 32.9 8.14 6.25
### 32.8 8.15 6.31
### 32.25 8.12 6.32
### 32.3 8.21 6.31
### 32.4 8.27 6.3
### 32.4 8.3 6.3
### 32.05 8.21 6.21
### 32.85 8.11 6.18
5/9/2019 32.9 8 6.15
5/8/2019 33.15 8.12 6.13
5/7/2019 33.5 8.15 6.1
5/6/2019 33.45 8.15 6.25
5/3/2019 34.15 8.36 6.55
5/2/2019 34 8.35 6.56
### 33.6 8 6.76
### 33.1 7.96 6.7
### 33.35 7.99 6.77
### 31.9 7.7 6.66
### 31.85 7.7 6.66
### 31.6 8.23 6.8
### 31.3 7.7 6.72
### 31.6 8.05 6.83
### 31.75 8.65 7.21
### 32.05 9.13 7.39
### 31.95 9.09 7.45
### 31.95 9.06 7.3
4/9/2019 32.1 9.16 7.3
4/8/2019 32.4 9.18 7.62
4/5/2019 32.5 9.28 7.6
4/4/2019 32.4 9.26 7.95
4/3/2019 32.1 9.29 7.79
4/2/2019 32.1 9.14 7.35
4/1/2019 31.95 9.17 7.35
### 32.2 9.4 7.3
### 32.45 9.51 7.3
### 32.35 9.24 7.18
### 31.6 9.06 7.13
### 31.4 9.1 7.03
### 31.95 9.36 7.25
### 32 9.2 7.21
### 32.3 9.15 7.31
### 31.9 9.11 7.24
### 31.85 9.32 7.33
### 31.9 9.07 7.16
### 34.2 9.4 7.3
### 34.35 9.2 7.3
### 33.85 9.45 7.28
### 33.8 9.65 7.37
3/8/2019 33.95 9.25 7.25
3/7/2019 34.1 9.2 7.51
3/6/2019 35 9.57 7.79
3/5/2019 35.05 9.91 7.95
3/4/2019 35.35 9.95 7.95
3/1/2019 34.25 9.3 7.7
### 33.6 8.71 7.7
### 34.4 9.1 7.82
### 34.5 8.91 7.82
### 34.8 8.52 7.8
### 33.9 7.97 7.7
### 32.7 7.45 7.39
### 32.2 7.37 7.4
### 31.7 7.5 7.31
### 32.15 7.7 7.5
### 31.6 7.72 7.62
### 31 7.6 7.53
### 30.9 7.44 7.04
### 29.5 6.96 6.58
### 28.9 6.51 6.15
2/1/2019 27.3 6.48 6
### 27.7 6.6 6.11
### 29 6.65 6.29
### 29.7 6.69 6.35
### 29.75 6.71 6.38
### 29.7 6.7 6.4
### 29.85 6.5 6.4
### 30.05 6.46 6.43
### 29.5 6.45 6.43
### 29.55 6.57 6.5
### 29.2 6.55 6.55
 ### 28.9 6.61 6.6
### 29.45 6.77 6.86
### 29.3 6.86 7
### 29.3 6.75 6.91
### 29.35 6.69 6.98
### 29.8 6.86 7
1/9/2019 29.5 6.7 7.06
1/8/2019 28.85 6.44 7.05
1/7/2019 29.35 6.42 7.05
1/4/2019 29.7 6.17 7.05
1/3/2019 29.5 6.26 7.25
1/2/2019 30.8 6.46 7.61
### 30.95 6.51 7.91
### 30.95 6.37 7.94
### 30.3 5.96 7.77
### 30.4 6.4 7.8
### 30.5 6.61 7.89
### 29.95 6.85 7.9
### 29.95 7 7.9
### 29.7 7 7.99
### 31.1 7 8
### 32.4 7 8.07
### 33.5 7.25 8.17
### 34 7.36 8.26
### 33.6 7.43 8.3
### 33.45 7.25 8.19
### 33.75 7.52 8.2
### 34.65 7.67 8.36
### 34.6 7.32 8.24
### 35.3 7.16 8.24
### 34.6 7.25 8.3
### 34.8 7.08 8.13
### 33.2 6.62 7.6
### 34.2 6.64 7.5
### 35.2 7 7.78
### 35.6 7.05 7.82
### 35.6 7.1 7.95
### 35.55 6.95 7.9
### 35.8 7.4 8.26
### 36.5 7.63 8.25
### 36.5 7.67 8.3
### 35.45 7.56 8.32
### 35.2 7.38 8.2
### 35 7.2 8
### 35.8 7.6 8.17
### 36.9 7.94 8.2
### 37.55 8.1 8.4
 ### 37.6 8.27 8.65
### 38.9 8.68 9.02
### 39.15 8.5 9.14
### 39.6 8.72 9.28
### 40 8.7 9.11
### 40 8.21 8.63
### 39.6 8.59 9.27
### 40.25 9.23 9.96
### 38.7 9.92 10.7
### 38.85 9.9 10.9
### 38.9 10 11.1
### 39 9.7 11.4
### 39.2 9.9 11.7
### 39.5 10.3 12.35
### 40.1 11 13
### 40.75 11.35 13.1
### 41 11.65 13.25
### 41 11.5 13.65
### 40.75 11.4 13.25
### 40.35 11.15 13.3
### 40.8 11.7 13.4
### 39.9 11.7 12.95
### 41.4 12.55 13.6
### 41 13.15 14.5
### 41.2 13.3 15
### 41.45 12.7 14.7
### 41.4 12.6 15.15
### 41.3 12.5 15.25
### 41.3 12.55 15.1
### 42.4 12.7 15.6
### 42.3 12.65 14.9
### 41.55 12.65 14.95
### 41 12.8 14.9
### 41.25 12.5 14.85
### 41.3 12.3 14.85
### 41.3 12.35 15.2
### 40.9 12.5 14.55
### 39.65 12.25 14.2
### 39.45 12.1 13.7
### 39.45 11.35 13
### 39.5 11.1 13.1
### 39.75 11.35 12.7
### 39.5 10.7 12.7
### 40 10.6 12.6
### 39.2 10.5 12.6
9/7/2018 39.7 10.4 12.95
9/6/2018 38.65 10.45 12.9
9/5/2018 38.6 10.6 12.95
9/4/2018 39 10.65 13.1
### 39.95 10.8 13.35
### 39.65 10.95 13.35
### 39.6 10.75 13.3
### 39.9 10.75 13.4
### 38.95 11 13.45
### 38.35 10.75 13.45
### 38.1 10.45 13.3
### 38 10.35 13.25
### 37.5 10.3 13.35
### 37.25 10.25 13.4
### 37.7 10.5 13.4
### 37.5 10.7 13.5
### 37.5 10.65 13.6
### 38.5 10.85 14
### 38.3 11.05 14
### 37 10.35 13.5
8/9/2018 36.55 10.35 13.5
8/8/2018 36.7 10.35 13.3
8/7/2018 36.15 10.4 13.15
8/6/2018 36.15 10.45 13.2
8/3/2018 36.3 10.85 13.65
8/2/2018 37.25 11.05 13.75
8/1/2018 37.6 11.25 14
### 37.35 11.25 14.2
### 37.05 11.75 14.6
### 37.3 11 14.3
### 36.5 10.8 14
### 35.5 10.9 14.35
### 35.4 11.15 14.3
### 36.95 11 14.6
### 36.7 11.65 15.1
### 37.2 11.55 15.1
### 37.2 10.8 14.8
### 36.1 10.1 13.85
### 35.5 10 13.9
### 35.6 10.05 13.75
### 33.75 9.96 13.25
### 34.4 9.75 13.15
### 35.5 10.1 13.7
7/9/2018 35.7 10.4 13.9
7/6/2018 36.8 10.45 13.8
7/5/2018 36.1 10.05 13.4
7/4/2018 37.1 10.65 14.4
7/3/2018 36.3 10.55 14.3
7/2/2018 38.4 11.3 15.05
 ### 38.4 12.1 15.6
### 38.85 12.1 16
### 39.5 12.6 16.3
### 41.1 12.55 16.6
### 41.5 12.5 16.8
### 40.95 12.65 17
### 39.25 12.4 16.95
### 40 12.7 17
### 38.35 12.2 15.9
### 40.2 12.8 16.7
### 43 13.1 17.5
### 42.6 13.2 17.9
### 43.4 12.8 18
### 42.5 12.6 18.2
### 60.6 13.3 18
6/8/2018 61.3 13.15 24.55
6/7/2018 61.9 12.3 24.8
6/6/2018 60.8 12.75 24.9
6/5/2018 59 12.85 23.8
6/4/2018 60 12.05 22.25
6/1/2018 57 11.3 20.8
### 56.1 10.6 20.4
### 52.8 11.1 19.9
### 52 11.25 19.75
### 48.7 10.75 18.9
### 52.1 11.55 20.3
### 52.4 11.75 21.35
### 51.7 12.2 21.35
### 50.5 12.2 21.35
### 53.2 13.1 21.2
### 53.9 14 21.3
### 53 14.2 22.1
### 54 14.3 22
### 55.4 14.5 21.6
### 55.8 14.45 21.7
### 55.7 14.5 22
### 55.2 14.9 22.4
5/9/2018 57 15.15 22.7
5/8/2018 57 14.2 21.3
5/7/2018 56 14.7 20.2
5/4/2018 54 14.3 20.2
5/3/2018 54.3 14.55 20.6
5/2/2018 54.4 15.6 21.4
### 53.8 16.75 23
### 53.5 16.35 21.7
### 56 16.75 22.7
### 55.6 17.3 23.1
 ### 58.8 18.55 24.55
### 57 18.6 23.4
### 59 19.65 24.5
### 59.7 19.9 25.6
### 60.1 19 25.2
### 61.2 19.75 26.65
### 61.7 21 27.15
### 60.5 21.85 27.3
### 60.8 22.6 27.95
4/9/2018 60.8 22.8 28.5
4/6/2018 60.4 22.4 30.1
4/5/2018 58.8 22.6 29.75
4/4/2018 59 22.7 30.8
4/3/2018 58.5 22.25 32.1
4/2/2018 59 22.8 32.65
### 60.4 22.8 31.7
### 60.8 22.9 29.65
### 59.9 22.9 28.9
### 59.4 22.9 28.9
### 58.9 22.7 29.3
### 61.4 23.7 30.1
### 62.8 23.8 30.9
### 63 23.6 31
### 61.5 23.4 31
### 63.1 23.4 30.85
### 60.2 23.45 31.4
### 60.6 24 32
### 61.8 23.9 32.4
### 61.5 24.25 31.4
### 62 23.55 32
3/9/2018 61.5 24.3 32.6
3/8/2018 61.8 24.5 33
3/7/2018 61.1 24.9 32.45
3/6/2018 63.9 24.6 32.5
3/5/2018 61.7 23.4 32.5
3/2/2018 66.3 24.6 34.4
3/1/2018 66.7 24.9 34.6
### 66 24.3 33.6
### 64.1 24.75 33.7
### 64.4 24.9 34.7
### 61.6 25.85 35.4
### 58.9 24.55 35.4
### 60 24.2 35.9
### 60.6 23.7 35.8
### 58.8 23 35.8
2/9/2018 58.3 22.6 35
2/8/2018 59.7 22.95 35
2/7/2018 59.5 24.25 36.3
2/6/2018 58 23.5 34.7
2/5/2018 57 24 37.2
2/2/2018 61.1 25.8 39.7
2/1/2018 61 25.65 39.7
### 62.3 26.1 41.4
### 61.3 26 39.7
### 61.5 26.2 39.9
### 63.9 25.45 40.4
### 61.5 25.2 40.9
### 63.6 26.05 42.8
### 59.7 25.55 42.5
### 56 25.5 41
### 53.6 25.5 41
### 56 27.4 43
### 54.6 28.65 42.7
### 52.1 27.4 42.75
### 51.7 27.55 43.2
### 51.7 27.55 44.3
1/9/2018 52.9 27.05 43.95
1/8/2018 49.5 25.3 43.25
1/5/2018 48 25.2 42.8
1/4/2018 48.2 25.75 41.2
1/3/2018 47.6 25.3 41.4
1/2/2018 47.7 24.65 41
### 46.85 24.5 38.8
### 45.8 24.1 38.7
### 45.4 24 38.5
### 43.9 24.15 37.9
### 43.85 23.8 37.7
### 44.35 23.7 38.5
### 44.1 24.3 38.6
### 44 24.3 39
### 43.6 24.6 39.2
### 43 24.6 37.95
### 41.7 24.5 38.2
### 40.65 23.9 37.7
### 40.3 23.85 37.35
### 39.7 23.6 37.5
### 40.2 23.5 37.5
### 41.2 24.9 38.4
### 41.95 25.45 38.2
### 42.25 25.85 38.5
### 41.6 25.2 38.5
### 42 25.65 39.3
### 41.5 24 38.65
### 41.2 23.8 38.55
### 39.3 23.45 38.4
### 39.4 23.75 38.45
### 39.25 24 38.6
### 39.1 23.3 37.65
### 38.2 23.3 37.1
### 38.3 23.65 37.65
### 37.55 23.05 36.95
### 37.4 23.15 36.95
### 38.2 23.6 38
### 38.65 24.1 38.5
### 38.75 24.35 39.5
### 37.4 23.85 37.55
### 36.65 22.6 37.45
### 37.25 23 37.15
### 37.05 22.8 37.15
### 37.05 23.5 37.15
### 36.9 23.3 36.35
### 36.9 23.3 35.4
### 36.2 22.5 34.75
### 34.8 21.1 34.75
### 35.7 22.1 34.6
### 37 23.15 34.65
### 36.8 22.7 34.5
### 37.7 24.3 35
### 37 25.2 34.65
### 37.35 25.05 34.3
### 37.5 26.2 34.4
### 37.1 26.7 34.6
### 37.45 27.15 34.9
### 37.8 27.45 35.4
### 38.4 27.3 34.8
### 39 27.7 35.45
### 38 28 35.4
### 38.95 28.3 36
### 39.5 28.35 36.5
### 39.55 28.7 36.4
### 39.7 29.05 36.4
### 39.45 28.2 35.95
### 38.85 28.15 35.55
### 38.8 28.15 35.3
### 39.65 28.45 36.3
### 38.8 28.2 36.5
### 39.05 28.4 36.5
### 38.9 28.6 35.25
### 37.75 28.5 34.9
### 37.7 28.6 34.8
### 37.4 29 34.75
 ### 37.5 28.45 35.35
### 37.7 28.8 35.3
### 37.5 29.35 35
### 37.9 29.35 34.5
### 38 29.6 34.8
### 37.65 29.6 33.2
### 37 29.35 33.2
### 36.7 28.9 33.2
### 36.9 28.8 32.85
### 35.45 28.45 32.6
### 35.3 28.1 32.6
9/8/2017 35.95 28.65 33.05
9/7/2017 35.5 28.65 33.2
9/6/2017 36 29.5 33.2
9/5/2017 35.4 29.65 33.2
9/1/2017 35.1 29.85 33.1
### 35.05 29.85 33.05
### 34.85 29.65 32.75
### 34.45 29.4 32.1
### 34.4 29.8 31.25
### 33.9 29.2 30.65
### 33.7 28.9 30.7
### 33.5 28.8 31
### 33.25 28.6 31.3
### 33.1 28.4 31.35
### 33.75 28.6 31.3
### 33.65 28.4 31.25
### 34.25 29.15 31.9
### 33.5 28.7 31.45
### 34 28.6 31.15
### 32.7 27.8 30.2
### 32 27.65 30.1
8/9/2017 31.85 27.85 30.1
8/8/2017 32.3 27.85 30.8
8/7/2017 32.25 27.55 30.9
8/4/2017 32 27.6 30.5
8/3/2017 32.3 27.3 30.75
8/2/2017 32.3 26.75 30.6
8/1/2017 32.7 27.8 31.6
### 32.3 28 31.8
### 32.45 30.1 32.3
### 32.45 29.95 31.95
### 32.8 30.1 31.85
### 32 29.6 31.3
### 31.6 29.25 30.7
### 31.4 29.6 30.5
### 31.65 29.95 32.55
 ### 31.8 29.4 32.25
### 32.05 30.05 32.25
### 32.85 30.6 33.1
### 33.7 31.6 34.3
### 33.6 31.6 34.05
### 33 31.55 34
### 32.9 31.75 34.4
### 33.1 31.7 34.85
7/7/2017 33 32.4 34.45
7/6/2017 33.3 32.95 34.45
7/5/2017 32.9 32.7 34.6
7/4/2017 33 32.85 34.65
7/3/2017 33 33.15 34.55
### 32 32.4 33.1
### 31.15 31.9 32.6
### 30.7 31.85 32.95
### 30.65 31.9 32.7
### 30.85 32.4 32.55
### 30.8 32.35 33
### 30.75 32.35 33.25
### 30.6 31.7 32.3
### 30.9 31.75 32.25
### 30.5 32 32.2
### 30.85 31.45 32.1
### 32.4 31.4 32.4
### 31.65 31.75 32.3
### 31.4 31.55 32.5
### 30.9 31.1 31.8
6/9/2017 31.45 32 33.5
6/8/2017 31.5 32.6 33.85
6/7/2017 31.4 33 33.6
6/6/2017 30.5 33.3 33.95
6/5/2017 29.95 32.4 33.6
6/2/2017 30 32 33.6
6/1/2017 30.3 32.35 33.5
### 30.4 32.8 34
### 29.35 30.7 31.9
### 29.8 31.85 33.2
### 29.2 52.1 31.7
### 29.35 50.7 31.55
### 29.35 51.5 31.75
### 29.05 50 31.3
### 28.9 49.7 29.45
### 28.7 48.45 28.7
### 28.5 48.3 29
### 29.05 48.4 29.9
### 29 48.1 42.6
 ### 29.5 49.45 44
### 29.7 49.5 44.8
### 30.15 49 44.6
### 30 49.35 44.8
5/9/2017 29.7 49.4 44.5
5/8/2017 29.15 49.25 45.05
5/5/2017 29.2 49.65 44.4
5/4/2017 29.2 48.6 45.1
5/3/2017 29.1 47.85 44.25
### 29.4 48.35 42.5
### 29.5 48.55 43.7
### 29.2 47.85 43.7
### 29.8 47.2 43.3
### 30.05 46.7 42.7
### 30.45 47.85 42.7
### 30.45 48.1 41
### 30.95 48.9 41.45
### 30.25 48.2 41
### 30.5 47.6 40.2
### 30.9 49.25 41.1
### 31.5 49.35 41.8
### 31.6 49.5 43.1
### 31.9 51.5 44.5
### 31.95 52 44.5
4/7/2017 31.85 51.8 43
4/5/2017 31.45 50.6 42
4/4/2017 32.3 51.5 41.95
4/3/2017 31.95 49.55 41.3
### 30.55 49.5 40.5
### 29.95 49.45 39.25
### 43.4 49 37.2
### 42.95 48.8 36.6
### 43.05 48.15 35.85
### 43.05 47.75 36.1
### 42.75 47.1 36.3
### 42.4 47.15 36.2
### 42.85 47.65 36.9
### 41.85 47.3 36.5
### 41.3 45.85 35.85
### 41.8 45.8 36.2
### 41.55 45.65 35.55
### 42.05 45.7 36.2
### 42.1 46.3 36.7
### 42.1 47.25 37.2
3/9/2017 42 47.3 37.35
3/8/2017 41.25 47.35 37.1
3/7/2017 41.2 47.35 36.7
3/6/2017 41.2 46.9 36.45
3/3/2017 41 47.3 36.3
3/2/2017 42 47.9 36.75
3/1/2017 40.9 47.9 36.3
### 40 47.25 36.5
### 40.25 47.55 37.6
### 40.45 48.35 36.65
### 40.6 47.85 37
### 40.2 48.2 37.1
### 42.25 49.4 37.7
### 42 49 37.3
### 44.3 49.7 37.2
### 44.7 49.75 37.7
### 45.15 51 38.5
### 45.1 51.4 38.6
### 44.75 51.2 37.8
### 44.35 50.2 37.85
2/9/2017 44.55 50.6 37.75
2/8/2017 44.65 49.3 36.85
2/7/2017 44.6 49.25 35.8
2/6/2017 44.1 49.2 35.65
2/3/2017 43.2 49.1 35.2
2/2/2017 42.7 49.15 35.05
### 42.3 49.7 35.3
### 42 49.3 35
### 42 48.7 35
### 42.2 48.7 35.25
### 41.45 47.2 35.3
### 41.6 47.8 35.75
### 42 49.5 36
### 42 49.7 35.7
### 43.2 50.5 37.05
### 43.65 51.2 37.3
### 44 51.8 37.65
### 43.85 51 37.5
1/9/2017 43.15 50.7 36.9
1/6/2017 43.4 50.9 36.3
1/5/2017 44.1 53.3 36.8
1/4/2017 44 51.5 36.5
1/3/2017 44 51.3 35.7
### 43.15 50.9 35
### 43.2 51.7 34.95
### 43.6 51.6 35.1
### 43.15 50.3 34.9
### 43.8 51.8 34.95
### 42.95 51.3 35.1
### 42.5 51.6 35.4
### 41.9 51.5 35.6
### 41.3 48.85 35.2
### 41.5 49 35
### 41.8 49 35.5
### 41.3 48.4 35.9
### 41.65 48 36.4
### 40.55 46.2 35.6
### 40.7 46.15 34
### 40.9 46.25 35.35
### 40.9 46.5 35.25
### 40.85 46 35.2
### 40.9 45.4 35.4
### 42.4 48.7 36.7
### 42.2 49.6 36.75
### 41.75 48.8 37.5
### 42.1 48.6 37
### 40.35 46.9 37.3
### 40.7 46.25 37.2
### 41.75 47.4 38.1
### 41.7 47.45 37.85
### 41.65 46.45 38
### 41.9 46.3 38
### 42 46.45 38
### 41.3 44.45 37.9
### 41.8 43.4 37.6
### 42.1 44 38.5
### 42 44.2 40
### 41.2 44.2 39.9
### 40.95 43 39
### 41.5 42.9 39.1
### 40.95 42 36.6
### 41.5 42 36.35
### 41.1 42.1 37.1
### 39.6 40.05 36
### 39.3 39.45 36.15
### 39.5 39.5 36.1
### 40.4 40.7 36.5
### 40.75 40.05 36.2
### 40.8 39.8 37.3
### 39.55 38.7 36.5
### 39.55 38.3 37
### 39.6 38.15 37.4
### 40.2 39.2 38.6
### 41 39.4 38.2
### 41.15 39 37.35
### 41.25 39.35 37.15
### 40.7 38.35 36
 ### 39.8 38 36.6
### 40.4 38 37.2
### 41.3 38 37.5
### 40.8 38.15 37.5
### 41.9 38.8 38.4
### 39.2 37 37.2
### 41.1 38.7 38.8
### 42.9 38.6 38.4
### 43.6 39.3 39.1
### 43.95 39.6 38.5
### 44.5 41 40.1
### 45.7 42 41.5
### 46.4 42 41.9
### 46.7 41.5 43.2
### 46.25 41.25 42.25
### 45.95 41.1 39.5
### 45.9 41.5 39.3
### 46.2 41.5 39.6
### 45.6 42.1 39.3
### 45.45 42 38.95
### 45.6 41.1 38.5
### 44.5 42 36.4
### 44.2 42.85 35.7
### 43.6 43.3 37.3
### 43.7 43.5 38
### 43 42.2 38
9/9/2016 44.3 43.8 40.2
9/8/2016 44.9 44 40.7
9/7/2016 44 43.7 40
9/6/2016 42.3 44.1 39.2
9/5/2016 42 45 42.1
9/1/2016 42.4 44 41.5
### 42.8 43.4 41.1
### 41.9 43.3 39.4
### 41.5 41.5 36.9
### 42.6 42.3 37.2
### 43 42.5 37.7
### 49 41.9 35.6
### 49.3 40.2 33.3
### 48.5 39.2 31.9
### 48.2 40.8 31.7
### 48.8 41.7 33
### 48.6 41.6 32.6
### 47 41.5 32
### 46.3 41.3 31.3
### 45.8 40.9 30.2
### 46 41.7 29.3
 ### 45.3 40.7 27.4
8/9/2016 43.3 39.4 27.1
8/8/2016 42.8 39.2 27.1
8/5/2016 43.1 38.7 26.8
8/4/2016 42.6 37.8 25.3
8/3/2016 43.2 38.9 25.1
8/2/2016 42.7 37.1 24.5
8/1/2016 44.1 37.8 25.8
### 44.5 39.4 26.4
### 44.6 40 26.8
### 43.2 39.5 26.8
### 42.3 37.7 26.6
### 40.9 37.1 27.9
### 40.2 38.1 27.5
### 41.2 38.6 27.9
### 41.1 41.5 26.4
### 42 43.8 26
### 42.3 44.7 26.2
### 40.6 41.9 24.5
### 40.2 42.5 25.3
### 41.6 45.6 27.1
### 41.1 45 26.9
### 40.5 44.8 27
7/8/2016 42.7 46.8 27.8
7/7/2016 42.8 45.7 27.5
7/6/2016 41 44.8 27.9
7/5/2016 40.2 44.1 27.4
7/4/2016 39.9 44 26.2
7/1/2016 39.8 42 25
### 39.6 41.3 25
### 39.3 42 24.6
### 38.7 40.7 23.7
### 39 39.4 23.2
### 38.8 38.8 22
### 40.1 40.6 22
### 39.6 40.6 21.4
### 39.2 41 20.8
### 38.4 40.2 21.2
### 37.4 39.2 20.6
### 38.1 41.6 21
### 38 42.6 21.2
### 37.9 42.9 20.5
### 36.5 40.2 20.5
### 37 40 20.1
6/9/2016 36.7 39 19.3
6/8/2016 36.9 38.9 19.3
6/7/2016 36.3 36.8 18.5
6/6/2016 35.4 36.1 17.5
6/3/2016 35.6 37.2 18.4
6/2/2016 35.2 37.3 18.4
6/1/2016 34.4 37.1 17.9
### 33.8 35.3 17.5
### 33.8 49.5 17.4
### 33.3 49.6 16.9
### 33.2 48.1 16.7
### 33.7 47.5 17.1
### 33.7 48.2 17.3
### 33.7 45.8 16.7
### 33.2 46.5 16.3
### 33.2 47 16.7
### 33.1 46.6 16.6
### 33.6 47.1 16.9
### 33.2 45.5 15.9
### 33.3 46.2 16.5
### 34 47.6 17
### 34.5 48.3 17.4
### 33.5 48 16.8
5/9/2016 33.9 48 17
5/6/2016 34 50 17
5/5/2016 35 49.2 17.7
5/4/2016 35 50 18.4
### 33.5 47 17.5
### 32.5 44.6 16.4
### 32.7 44.6 16.1
### 33 43.6 16.5
### 33 41.8 16.8
### 32.7 42.4 16.6
### 31.5 42.2 16
### 31.2 39.5 15
### 30.9 37 14.4
### 31.3 37.5 15.2
### 31.4 37.5 15.3
### 31.1 40 14.8
### 31.7 39.6 14.8
### 31.5 40.1 15.1
4/8/2016 30.8 39.6 14.2
4/7/2016 30.1 37.9 13.3
4/6/2016 30.2 37.2 12.5
4/5/2016 29.3 36 12.5
4/4/2016 29.2 34.8 12.3
4/1/2016 29 34.3 12.8
### 29.5 34.5 12.9
### 29.5 35.5 12.9
### 29.8 35.4 13
 ### 29.9 35.8 13.3
### 29 34.5 13
### 28.8 34.8 12.4
### 29.3 35.4 12.6
### 29.5 35.5 12.6
### 29.8 35.3 12.3
### 29.7 35.7 12.6
### 30 35.3 12.9
### 29.9 34.8 12.8
### 30 34.6 13.3
### 30 35.1 12.9
### 28.8 34.7 12.8
### 28.6 34.1 12.4
3/9/2016 28.5 33.9 12
3/8/2016 28.9 34.4 12
3/7/2016 27.8 33.4 11.3
3/4/2016 27.5 31.3 11.4
3/3/2016 27 31.2 11.5
3/2/2016 27.2 30.8 11.2
3/1/2016 27.4 30.6 11.5
### 27.9 31.1 11.7
### 28.4 30.2 11.6
### 27.3 29.2 11.3
### 27.2 29 11.3
### 27.2 29 11.4
### 27.2 29.2 11.7
### 27 28.5 11.9
### 26.8 28.6 12.2
### 26.7 28.6 12.1
### 26.7 28.3 12
### 26.4 28.3 11.7
2/5/2016 27 28.1 11.7
2/4/2016 27 28.1 11.6
2/3/2016 26.8 27.7 11.6
2/2/2016 26.8 27.6 11.8
2/1/2016 26.7 27.8 12
### 27.5 28.6 11.8
### 26.5 28.4 12.8
### 26.8 28.1 12.9
### 26.4 26.8 13
### 27.2 26.9 12.9
### 25.6 25.2 12.4
### 25.5 25.8 11.8
### 25.2 27.6 12
### 25.2 28.1 12
### 24.8 27.8 11.7
### 25.5 29.4 12
 ### 26.5 30.1 12.5
### 27.5 31.4 12
### 28 31.6 12.2
### 27.7 31.2 12.3
1/8/2016 27.7 31.4 12
1/7/2016 28.2 31.6 12.3
1/6/2016 29 32 12.8
1/5/2016 28.5 31.8 12.6
1/4/2016 28.8 32.2 12.8
### 29.2 31.5 12.6
### 29.3 32 12.7
### 28.9 31.5 12.7
### 28.9 31.4 12.5
### 29.5 31.8 12.7
### 29.5 31.8 13.3
### 29.5 32.2 13.3
### 29.7 32.2 13.9
### 30 32.7 13
### 30.4 32.9 13
### 30.4 32.8 13.1
### 30.5 32.8 13.2
### 30.6 32.8 13.2
### 30.6 33.2 13.3
### 29.8 33.4 13.4
### 29.4 32.6 13.4
### 29.8 33.4 13.4
### 30.3 32.6 13.7
### 29.9 32.6 13.8
### 30.3 32.3 13.5
### 30.6 32.8 13.8
### 30.6 32.3 14
### 30.3 32 14
### 30.5 31.7 13.5
### 31.3 31.8 13.4
### 31.7 33.5 13.2
### 31.1 43 13.4
### 30.1 43.8 13.7
### 30.2 44 13.8
### 29.9 44 13.5
### 29.8 44 13.3
### 30.1 44 13.9
### 30.2 44.5 14.4
### 29.6 44 14.5
### 30.1 43.9 14.4
### 30.1 44 14
### 30.3 44.4 14.4
### 30.5 44.3 14.5
 ### 30.7 44.7 15
### 31 44.3 15
### 31 44.6 15.3
### 31.1 44.8 15.2
### 31.5 45.8 15
### 31.2 44.5 15
### 31.5 46.5 16
### 31.5 46.2 16.3
### 31.4 46.1 16.2
### 31.7 46.9 15.8
### 31.9 45.4 15.7
### 31.8 45 14.8
### 31.4 43.4 14.8
### 31.2 43.4 15
### 31.4 43.5 15.5
### 32 44.3 15.2
### 32 44.3 15.6
### 32.3 43.8 15.9
### 32.3 43.5 15.5
### 32.4 43.4 15.5
### 32.8 43.7 15.3
### 32.4 43 14.6
### 32.2 43 14.2
### 31.5 42.3 13.3
### 32 42.7 13.3
### 31.4 42 13.5
### 30.9 42.3 13.5
### 30.7 40.9 13.5
### 30.4 40.8 13.6
### 30.1 40.7 13.7
### 30.2 40.6 13.8
### 31.1 40.9 13.8
### 31.4 41.2 13.8
### 31.6 41.8 13.7
### 31.8 42 13.8
### 31.7 41.5 13.9
### 30.8 41.5 13.1
### 30 41.1 12.8
### 29.7 40.2 12.8
### 29.2 40 12.8
### 29.3 40 13.3
### 29.7 41 13.5
### 30.4 41 12.9
9/9/2015 30.7 40.7 12.1
9/8/2015 30.2 40.7 12.3
9/7/2015 29.2 39.7 12
9/4/2015 29.7 40.1 12.1
9/3/2015 30.1 40.5 12
9/1/2015 31.1 41.3 12
### 31.1 41.5 11.9
### 31.6 42.6 12.7
### 31.3 42.9 12.7
### 31.5 41.4 12
### 30 38.7 12
### 28.1 39.6 11.9
### 30.2 42.5 12.7
### 31.1 43 13.4
### 31.8 43.4 13.6
### 32.1 43.5 13.8
### 31.7 42.5 13.7
### 32.6 42.9 13.7
### 32.7 42.1 13.5
### 33.3 42.8 13.8
### 34.5 43.7 13.8
### 34.8 43.5 13.7
8/7/2015 34.1 42.5 14.3
8/6/2015 33.2 42 14.4
8/5/2015 33.6 41.7 14.5
8/4/2015 32.6 41.6 14.5
8/3/2015 32.5 41.3 14.2
### 32.5 42.4 14.8
### 33.6 42.1 14.3
### 33.4 42.9 14.3
### 34.3 45.9 14.9
### 35.6 47.6 15.2
### 34.6 45.9 15.4
### 33.1 42.9 15.1
### 33.5 43.5 15
### 31.4 42.7 15.3
### 30.5 42.7 14.6
### 30.2 43.6 14.4
### 29.6 43.3 14.5
### 28.6 43.6 14.4
### 29.2 44 14.7
### 28.7 43.8 14.6
### 28.9 43.8 14.5
7/9/2015 29.2 42.7 14.3
7/8/2015 29.8 43.3 14.1
7/7/2015 30.1 43.4 14.6
7/6/2015 29.4 42 14.1
7/3/2015 28.7 41.9 14
7/2/2015 28.6 42 15
7/1/2015 28.2 42 15
### 28.9 42.5 15
 ### 28 42 15
### 27.3 40 15
### 27.4 42.8 15
### 27.9 42.3 14.5
### 28.2 42 14.3
### 27.8 41.6 13.8
### 27.5 42.4 13.9
### 28.3 42 13.9
### 28.4 42.5 14.1
### 28.9 42.2 14.3
### 28.7 42.9 14.1
### 28.6 42.2 14.1
### 28.8 43.5 14.1
### 28.3 40.8 13.2
6/9/2015 27 38.6 13.1
6/8/2015 26 37.4 13.5
6/5/2015 25.3 37.6 13.5
6/4/2015 25.7 37 13.3
6/3/2015 25.6 37.4 13
6/2/2015 26.3 36.7 12.8
6/1/2015 26.4 36.8 13
### 26.6 36.6 13
### 26.8 36 13
### 26.8 36 13
### 27.2 35.8 13
### 26.7 36.6 13.2
### 26.9 36.5 12.5
### 26.7 36.6 12.8
### 26.7 36 12.5
### 25 35.9 11.9
### 24.8 35.2 12
### 26.1 36.1 11.7
### 26.8 36.8 11.8
### 26.3 36.1 12.4
### 26.9 37 13.3
### 27.7 37.1 13.5
5/8/2015 28.2 37 13.5
5/7/2015 43.8 36.9 13.6
5/6/2015 43.5 36.2 13.2
5/5/2015 44.2 37 13.2
5/4/2015 43.3 35.3 13.1
### 44 37.8 13.7
### 44.5 37.7 13.9
### 44.5 37.8 14.2
### 45.1 38.6 14.2
### 45.1 37.3 14.4
### 45.1 37 14.2
 ### 45.6 37.1 14.2
### 44.9 37.3 14.4
### 45 36.9 14.4
### 44.3 35.5 14.4
### 44.2 35.4 14.3
### 44.2 35.7 14.4
4/9/2015 44.2 35.3 14.6
4/8/2015 44.2 35.4 14.7
4/7/2015 44.4 35.2 14.8
4/6/2015 44.4 35 14.9
4/3/2015 44.9 35.6 14.6
4/2/2015 44.1 33.7 14.7
4/1/2015 44 32 14
### 44.1 33.8 14.7
### 44 33.5 14.5
### 43.9 33.9 14.7
### 43.9 33.1 14.8
### 44 34.2 14.9
### 44.3 35.4 14.9
### 45 35.4 15
### 46.3 34.8 14.8
### 44 36.4 14.6
### 44.6 36.4 14.9
### 45 37.1 15
### 45.1 37.8 15
### 46.5 38 15.3
### 46.8 38.4 15.1
### 47.5 38.6 15.5
### 48 38.8 15.5
3/9/2015 48.6 38.8 15.5
3/6/2015 47.2 39.2 15.7
3/5/2015 47.3 39.5 15.9
3/4/2015 47.1 39.7 15.8
3/3/2015 47.1 38.7 15.7
3/2/2015 46.2 38.5 15.9
### 47.1 39 15
### 47.9 39.4 15.2
### 48.4 39.7 15.2
### 49.3 39.6 15.6
### 49.2 39.5 15.6
### 48.8 39.6 15.3
### 48.4 39.6 15.3
### 46.3 38.7 14.6
2/9/2015 44.8 39.3 14.6
2/6/2015 46 39.6 14.6
2/5/2015 44.9 39.8 14.5
2/4/2015 45.2 39.6 14.5
2/3/2015 46.7 40.5 14.2
2/2/2015 47.5 43 14.7
### 47.8 43.1 15.1
### 49.4 44.5 15.4
### 50.5 44.5 15.5
### 50.5 44.4 15.1
### 49.8 44.4 15.8
### 51.5 45 16
### 53 44.6 15.6
### 53.5 45.6 15.9
### 53 46.6 15.9
### 52.5 47.4 16
### 53 47.2 15.5
### 54 47 15.3
### 54 47 15.4
### 54 47 14.5
### 54 47.1 14.5
1/9/2015 54 47.3 14.5
1/8/2015 53 47.5 14.5
1/7/2015 53 47.4 14
1/6/2015 53.5 47 14.5
1/5/2015 53 47 14.3
ce Performance Relative P/E
30

25

20

15

10

0
/5/2018 10/5/2018 7/5/2019 4/5/2020 2015 2016 2017 2018 2019

SG NKG HPG HSG NKG

2019
 Top 10 Steel Exporters to Vietnam
Top steel export
China 34.7%
Korea 14.8%
Japan 14.3% 17%
India 11.6%
10%
Taiwan 9.9%
Others 17.7%
11%

14% 14
Others: Southeast Asia, Indonesia, Malaysia, Russia,Brazil, Thailand

China Korea Japan Indi

5/1/2019 6/1/2019 7/1/2019 8/1/2019 9/1/2019 ### ### ###

AUD/VND 16310 16236.66 16198.3 15886.04 15576.92 15675 16033.04 15701.22
BLR/VND 5942.87 5964.45 6055.39 6084.177 5585.95 5586.64 5817.74 5491.99

Exchange rate
20000

15000

10000

5000

0
5/1/2019 8/1/2019 11/1/2019 2/1/2020 5/1/2020

AUD/VND BLR/VND
 Top steel exporters to VN

17%
34%
10%

11%

14% 14%

China Korea Japan India Taiwan Others

Interbank rate
1/1/2020 2/1/2020 3/1/2020 4/1/2020 5/1/2020 6/1/2020
16259.66 15536.86 15186.39 14146.13 15210.98 15741.09
5763.37 5417.02 5171.33 4490.73 4268.77 4343.98
Interbank rate