law 11.000 11.000 Variance 8.122 8.304 Land and Houses Securities Public Company Limited Overview of the Stock Exchange of Thailand Since the beginning of the year 2020, the stock market has been under

financial reporting standards (TFRS9 and TFRS16) and interpretations which are effective for fiscal years beginning on or after January 1, 2020. 1.2 IPO Stabilization and Over-allotment option (Greenshoe) The

. The MPC deemed the easing in monetary policy since the beginning of the year, as well as additional fiscal, financial and credit measures, will help mitigate the effects of the pandemic and support

to our 2021 target of US$287M (US$195M extra efficiency gains over 2020) Overview This time last year the world was just beginning to comprehend the unprecedented nature of COVID-19 and the

(50.23) Cash and Cash Equivalent at the Beginning of the Period 736.26 310.87 425.39 Cash and Cash Equivalent at the Ending of the Period 718.58 343.42 375.16 Financial Ratios of GFPT Public Company

(Decrease) – Net (3.52) 3.24 Cash at the Beginning of the Period 23.83 20.59 Cash at the Ending of the Period 20.31 23.83 CFROE = Cash Flow Return on Equity Increase (Decrease) (%) 23.87% 42.28% The Corporate

and cash equivalents at beginning of period 50.34 96.78 -46.44 -48% Net cash flows from operating activities 92.16 54.53 37.63 69% Net cash flows used in investing activities -394.45 -121.17 273.29 226

IPO proceeds. Debt to equity ratio was at 0.3 times. 4,486 4,486 6,754 3,559 3,559 2,943 (675) (3,195) Beginning cash and cash equivalents (31 Dec 2018) Net cash used in operating activities Net cash

) 265* 714 Beginning cash (31-Dec-18) CFO CFI CFF Ending cash (31-Dec-19) *Included translation adjustment of THB 5mn (THB mn) MANAGEMENT DISCUSSION & ANALYSIS 2019 11 Feb 2020 MASTER AD PUBLIC COMPANY

equivalents (0.03) (0.62) Cash Increase (Decrease) – Net 11.00 (3.52) Cash at the Beginning of the Period 20.31 23.83 Cash at the Ending of the Period 31.31 20.31 CFROE = Cash Flow Return on Equity Increase