31 MARCH 2020 LH Financial Group Public Company Limited Management Discussion and Analysis for the First Quarter ended 31 March 2020 Page 2/22 Overview of Business Operation LH Financial Group Public

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content acquisition to support the growth of the business since 2017 and the fact that the Thai Baht value appreciated against US Dollar, the Company had loss on exchange rate, resulting in a decrease in

of digital technology, which has shaped a new trend of consumption amid intensified borderless business competition via digital channel. To brace for these numerous challenges, KBank prioritizes the

property development business which results in the significant decrease in total revenue. The total gross profits for 2Q 2019 was 234 million Baht (48% of total revenue), decreased by 83% as compared to 2Q

closure of additional four Dean & DeLuca stores in the US. The total gross profits margin for the food and beverage business for 3Q 2019 was 47% as compared to 3Q 2018 of 53%. The Company’s total expenses

most businesses were severely impacted in broad scope especially tourism business, which is one of Thailand's primary incomes, accounting for approximately 17 percent of the country's GDP *. The

rental and services represents revenue from hospitality business, commercial business and other businesses. Hospitality Business At the end of 2Q19, the Company’s total hotels reached 39 hotels with 4,647

effectiveness in cost management and the adjustment of accounting method to deduct rental discount from selling expenses. • The Company reported net loss in Q2/2021 and net profit in 1H/2021 of THB -7 million and

HomePro Fair at Hat Yai and Khon Kaen. Overall sales are satisfactory. The HomePro business in Malaysia is focused on increasing same store sales, while the company continues to work on improving the