(Translation) Bangkok Expressway and Metro Public Company Limited Management Discussion and Analysis for the Quarter Ended on March 31, 2020 1 Significant events in the first quarter of the year 2020

assets 9. Property, plant and equipment 10. Intangible assets 11. Other assets Total assets Liabilities and shareholders’ equity (Unit:Baht) Consolidated The Company only ( 20..) ( 20..) (20..) (20

receivables 8. Others derivatives assets 9. Property, plant and equipment 10. Intangible assets 11. Other assets Total assets (Translation) -4- Liabilities and shareholders’ equity (Unit:Baht) Consolidated The

business receivables 8. Others derivatives assets 9. Property, plant and equipment 10. Intangible assets 11. Other assets Total assets (Translation) -4- Liabilities and shareholders’ equity (Unit:Baht

29_MDA Q3_62 EN -Translation- No. ECF2 041/2019 November 14, 2019 Subject: Management Discussion and Analysis of the 3rd quarter ended September 30, 2019 To President The Stock Exchange of Thailand

amounting of 1.42 Million Baht due to the liquidity issue of LPG customers. Moreover, the Group has increased in number of staff and management to support Testing and Inspection service business, especially

, the Group has increased in number of staff and management to support Testing and Inspection service business, especially in eastern region. The staff cost has been increased 2.18 Million Baht

1 Ref FN. 047/2019 Management Discussion and Analysis For operation of the third quarter of year 2019 FN Factory Outlet Public Company Limited was founded in 2000 and has been operated the outlet

212,712.5 210,680.7 2,031.8 1.0 Total owners’ equity 38,484.9 38,631.0 (146.1) (0.4) LH Financial Group Public Company Limited Management Discussion and Analysis for the First Quarter Ended 31 March 2021 Page

(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