[General Steel Reports Second Quarter 2014 Financial Results Quarterly Gross Margin Improves to a 36-Month High of 4.8% Quarterly EBITDA Improves by $54.4 million Year-over-Year to $33.6 million Quarterly Operating Cash Flows Improve by $121.4 million Year-over-Year to $56.1 million Company Reiterates EPS Guidance of $0.08 to $0.12 for Second Half of 2014 BEIJING – August 14, 2014 Henry Yu,] [1 This presentation is intended to be viewed in conjunction with the General Steel Holdings, Inc. second quarter 2014 earnings call. Second Quarter 2014 Earnings Call Presentation August 14, 2014 3 This presentation is intended to be viewed in conjunction with the General Steel Holdings, Inc. second quarter 2014 earnings call. Review of Progress on Key Initiatives Agenda China Steel] [FORM 8-K CURRENT REPORT Date of Report (Date of earliest event reported): August 14, 2014 General Steel Holdings, Inc. Nevada 001-33717 41-2079252 (State or other jurisdiction of incorporation) (IRS Employer Identification Number) Level 21, Tower B, Jia Ming Center + 86 (10) 57757691 (Former name or former address, if changed since last report) ¨ ¨ ¨ ¨ ITEM 2.02 RESULTS]

[SUBSCRIPTION AGREEMENT General Steel Holdings, Inc. Jia Ming Center, Building B, 21FL No. 27 Dong San Huan North Road Chaoyang District, Beijing 10020 China Gentlemen and Ladies: Subscription. 1. Subscription Compliance. 2. The Company shall have the right, in its sole discretion, to: (i) accept or reject this subscription; (ii) determine whether this Subscription Agreement has been properly completed by] [FORM 8-K CURRENT REPORT Date of Report (Date of earliest event reported): July 14, 2014 General Steel Holdings, Inc. Nevada 001-33717 41-2079252 (State or other jurisdiction of incorporation) (IRS Employer Identification Number) Level 21, Tower B, Jia Ming Center + 86 (10) 57757691 (Former name or former address, if changed since last report) ¨ ¨ ¨ ¨ Item 1.01 Entry]