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

operating performance and financial position for the third quarter and nine-month ended September 30, 2019 with those of 2018. This report discusses principal changes in the unreviewed consolidated financial

performance and financial position for the third quarter and nine-month ended September 30, 2019 with those of 2018. This report discusses principal changes in the reviewed consolidated financial statements

Total shareholders’ equity 22,342.4 30,004.5 (7,662.1) Remark (1) Comprised of discount on changes in shareholding in subsidiaries and non-controlling interests of the subsidiaries As of 31 March 2020

of equity 195 199 -2% Total equity of parent Company's shareholders 1,583 1,575 +1% Non-controlling interests 0 5 -100% Total Shareholders' Equity 1,583 1,579 +0.2% Total Liabilities and Shareholders

because of the changes in administrative expenses during the period. • Shares of profit from Bangpa-In Cogeneration Company Limited (BIC) dropped by Baht 2 million from Q2/2018, but increased by Baht 13

around US$2.2B in Mar21 and operating cash flow of US$201M in 1Q21, IVL is well positioned. During the quarter, net debt reduced by US$148M with improved performance. Our net operating debt to equity has

increased by Baht 11.24 million or an increase of 2.73 percent. Details of the changes or impacts are described in the Management Discussion and Analysis (MD&A) as attached herewith. Please be informed

23.04 million had not been included, the net profit of the Corporate Group for Year 2019 would be Baht 548.27 million or an increase of 29.66 percent. Details of the changes or impacts are described in

Telephone 02-6543344 Ext.119 http://www.pacedev.com http://www.pacedev.com/ 3 2017 MD&A: PACE Development Corporation PLC. The following is the overall business operations and significant changes during Q2