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

, Aurum and Aurum Company Limited (together with the Company, the “Group”) which engages in distribution of bakery products and equipment. Analysis of Financial Performance Revenues Business categories

- Translation - Management Discussion and Analysis for Interim Business Operations Financial Performance for the year ended December 31 , 2017 (Unit : M ill ion Baht) 2017 2016 Inc./(Dec

Limited), the appointment of the independent financial advisor, the determination of the date of the Extraordinary General Meeting of Shareholders No. 1/2019, and the determination of the date on which the

) operating results based on its reviewed consolidated financial statements ended 31 March 2019 as follows. Highlights on Q1-2019 Operating results Unit : Million Baht Q1-19 Q1-18 Q4-18 % Change Amount % Amount

) operating results based on its reviewed consolidated financial statements ended 30 June 2019 as follows. Highlights on Q2-2019 Operating results Unit : Million Baht Q2-19 Q2-18 Q1-19 % Change Amount % Amount

) operating results based on its reviewed consolidated financial statements ended 30 September 2018 as follows. Highlights on Q3-2018 Operating results Unit : Million Baht Q3-18 Q3-17 Q2-18 % Change Amount

-Sep) operating results based on its reviewed consolidated financial statements ended September 30, 2019 as follows. Highlights on Q3-2019 Operating results Unit : Million Baht Q3-19 Q3-18 Q2-19 % Change

Q1-2020 (Jan-Mar) operating results based on its reviewed consolidated financial statements ended 31 March 2020 as follows. Highlights on Q1-2020 Operating Results Unit : Million Baht Q1-20 Q1-19 Q4-19