Justification_E_2-61 NO. AC. 003/2018 14 August 2018 Subject: Clarification of changes in operating performance of more than 20% To: The President of the Stock Exchange of Thailand M. K. Real Estate

declined by THB 323.67 million or 32.26%. This is because the slowdown of real estate business sector resulted from Loan to Value regulation or “LTV” since 2019. Moreover, the household debt has been

and 346.20 million respectively. Revenue from sale of real estate declined by THB 112.69 million or 32.55%. This is because the slowdown of real estate business sector resulted from Loan to Value

matching viable social enterprises with the financial capital needed so as to better support the development of the social enterprise sector in the long run.  As part of the program, UNDP and Changefusion

expansion and new project development and expenses related to the bidding of the projects for procuring electricity from renewable sources of the government sector. In first quarter of 2023, the Group were

quarter from the contraction of the industrial sector that reduced the production of industrial products due to higher production costs, a lower domestic demand and lower demands from trading partners in

for procuring 5 electricity from renewable sources of the government sector. The Group were selected to participate in the projects for procuring electricity from renewable sources, specifically ground

consumption and the improvement of the service sector according to the number of thai and foreign tourists. However, Public expenditure shrinks from both regular expenditure according to central budget

decreasing of Baht 19.7 million derived from high expenses of the Group related to the bidding of the projects for procuring electricity from renewable sources of the government sector in the first quarter of

as follows: LH Financial Group Public Company Limited Management Discussion and Analysis for the Third Quarter ended 30 September 2017 Page 3/22 Certified Companies of Thailand's Private Sector