has deployed measures to stimulate short-term spending. Private investment also slowed due to a decline in the real estate sector. Meanwhile, the need for machinery investment was subdued due to lower

of Baht 1,299.43 million, the decrease in revenue from energy sector by Baht 39.15 million due to raw materials and the decrease in revenue from chemicals by Baht 49.98 million. However, the Company

conventional media sectors. The TV sector with the highest market share at 64.8%, fell 7.4% YoY to THB 65,786mn and Traditional media (Newspaper, Magazines and Radio) with a 13.9% market share, declined by 21.7

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

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 Collective Action Coalition

6 Offer Price Original The Offer Price is THB 91.9906 (Ninety-one point nine nine zero six Baht) per share (the “Offer Price”), which will be reduced by an amount of dividend to be received by the

infrastructure investment and a slowdown in private investment. Thai Banking Industry The commercial banking sector in Thailand continued to face some uncertainties in the business environment and ongoing changes

sector, exports value for 2018 expanded 6.7% from the same period last year. In the tourism sector, the number of tourist arrivals for 2018 totaled 38.3 million, growth of 7.9% from the same period last

slightly declined from the high base of last year. For export sector, exports value remained stable for Q418 from the same period last year due to the high base effect of last year and also from the trade

area and also from the decline in construction material sales in line with the slowed down in the real estate sector. Additionally, investment in machinery and equipment also contracted as exhibited by