(THIS REPORT DISCUSSES PRINCIPAL CHANGES ON THE UNREVIEWED AND UNAUDITED CONSOLIDATED FINANCIAL STATEMENT) LH FINANCIAL GROUP PUBLIC COMPANY LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR THE SECOND

Discussion and Analysis (MD&A) Consolidated Financial Results: 1Q20 Major Events Performance Business Plan Document Quick Link Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A

up capital 1,160,000 1,160,000 1,160,000 Shareholders’ equity -533,837 -637,109 2,267,549 Total revenue 199,916 657,968 1,626,871 Total costs 235,424 866,349 1,700,918 Profit before taxation 101,739

interests 327,275 5% 124,005 3% 148,019 4% Total equity 2,317,316 36% 134,520 3% 384,086 10% Total liabilities and equity 6,385,430 100% 4,069,930 100% 3,755,487 100% 19 Consolidated statement of income 2016

percentage 1.60 of the Net Tangible Asset, which is greater than 0.03 percent and less than 3 percent of Net Tangible Asset (NTA) of the company, calculated from the consolidated financial statements of the

value is derived from this method of calculation, whereby the calculation is based on the Company's reviewed consolidated financial statements for the 6-month period as of 30 June 2018 of the Company

lower transfers of condominium units, and decline in hotel revenue based on market conditions. Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Consolidated Financial

financial group according to the consolidated financial statements was Baht 478,740 million, Common Equity Tier 1 capital was Baht 406,463 million, and Tier 1 capital was Baht 406,529 million. The total

resulting in capital inflows to the bond and equity markets in emerging markets, including Thailand. Consequently, in 2017 the Thai baht appreciated by 10 percent from 35.82 THB/USD at the beginning of

ownership on SHR (40%) and performance of SHR included in consolidated financial statement of the Company since November 2019. SHR, the Company’s subsidiary, entered into a joint venture with Wai Eco World