Sakhon 74110 Thailand. E-mail: ir@aienergy.co.th บริษัท เอไอ เอนเนอร์จี จ ำกดั (มหำชน) AI Energy Public Company Limited ทะเบียนเลขที่ 0107556000311 AIE 174/2020 August 14th, 2020 Subject: Management’s

1 Zen Corporation Group Public Company Limited 662 Soi Onnuch 17, Suanluang, Bangkok 10250 THAILAND. Tel: 02-0195000 24 February 2020 No. ZEN 2563-003 Subject Management Discussion and Analysis for

(THIS REPORT DISCUSSES THE PRINCIPAL CHANGES IN THE UNREVIEWED CONSOLIDATED FINANCIAL STATEMENT) LH FINANCIAL GROUP PUBLIC COMPANY LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR THE THIRD QUARTER

(THIS REPORT DISCUSSES THE PRINCIPAL CHANGES IN THE REVIEWED CONSOLIDATED FINANCIAL STATEMENT) LH FINANCIAL GROUP PUBLIC COMPANY LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR THE THIRD QUARTER ENDED

procurement process. In 2018, the Company delivered the large-scale projects with a value of more than 100 million baht such as a project of mobile signal and high-speed internet in a border area, a project of

income ection and ot ntal and serv al revenues st of Sales st of Services st of rental an ss Profit Discussion and c Company Lim 015 Manag Presid The St g to Jaymar 9 Novemb any and th s already be pany’s

allocate more of their advertising budget towards the out-of-home sector, in order to benefit from and keep abreast of these trends. Master Ad Public Company Limited (“MACO”) is well-positioned to benefit

, the Company was affected by the ongoing outbreak of COVID–19 which caused the customers to change the work methods resulting in the delay in delivery and inspection of equipment or project. As a result

growth rate of total revenue was higher than the growth rate of total expenses, the Net profit attributable to Equity holders of the Company was of Bt322.6 million, an increase of Bt17.0 million or 5.6%(y

a Thai Feeder Fund investing in a Hong Kong MRF-eligible master fund: - Before filing an application with the SEC, the Thai AMC shall request the management company of the Hong Kong MRF-eligible