GFPT Public Company Limited Interim Management Discussion and Analysis for the 1st Quarter 2019 Page 1 of 11 Management Discussion and Analysis This interim MD&A report has been prepared based on the

depreciation. However, the aforementioned decrease was partly offset by the investment in new machinery, construction of Winner Ratchaburi, a small furniture store under COCO (Company Owned Company Operated

Management Discussion and Analysis for the Year 2019 1. Operating Results (Company and Subsidiaries) Consolidated revenue for year ended 2019 of both treatment of industrial waste business division

(THIS REPORT DISCUSSES PRINCIPAL CHANGES IN THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENT) LH FINANCIAL GROUP PUBLIC COMPANY LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR THE YEAR ENDED 31 DECEMBER

(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 THIRD

(THIS REPORT DISCUSSES PRINCIPAL CHANGES ON THE REVIEWED CONSOLIDATED FINANCIAL STATEMENT) LH FINANCIAL GROUP PUBLIC COMPANY LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR THE THIRD QUARTER ENDED 30

(THIS REPORT DISCUSSES PRINCIPAL CHANGES IN THE AUDITED CONSOLIDATED FINANCIAL STATEMENT) LH FINANCIAL GROUP PUBLIC COMPANY LIMITED MANAGEMENT DISCUSSION AND ANALYSIS FOR THE YEAR ENDED 31 DECEMBER

Group Public Company Limited (the “Company” or “CBG”), are pleased to submit management discussion and analysis regarding consolidated financial performance and position of the Company and subsidiaries

selling price of hot-rolled coil for the year in 2017 increase around 18.54% comparing with last year together with the well manage production of the Company, the Company can generate cash margin by Baht

impairment of the assets under construction amounting THB 998 million from the appraisal by independent appraiser.  Loss on sale of long term investment (Other expenses in Separate FS) The Company received