Interim Management Discussion and Analysis For the three-month period ended 31 March 2020 Lam Soon (Thailand) Public Company Limited and its subsidiaries Page 1 of 2 Financial performance analysis

purpose of borrowing money is in compliance with Clause 4; (2) a lender is not fund supervisor of the infrastructure mutual fund; (3) financial leverage ratio of the infrastructure mutual fund shall conform

against risk, and greater than the Bank of Thailand’s requirement. As evidenced, capital adequacy ratio (CAR) of KASIKORNBANK FINANCIAL CONGLOMERATE (the Conglomerate) according to the Basel III Accord was

financing activities of THB 210 million was mainly from proceeds from long-term loans in Myanmar during the period. Financial Ratio Analysis Q1’20 Q1'19 Liquidity Ratios Current ratio (times) 1.3 2.4 Number

1st Quarter Ended 31 March, 2019 Page 9 5. Significant financial ratios (excluded the effect of foreign exchange rate) 2019 2018 1) Current Ratio (Times) 2.36 3.02 2) Profit to Total Revenue (excluded

Liabilities 251,227 75 % 239,284 74 % Retained earnings 60,675 18 % 58,252 18 % Others 25,141 7.5 % 25,234 7.8 % Total Equity 85,816 25 % 83,486 26 % Key Financial Ratio 3Q22 2Q23 3Q23 Interest-bearing debt to

by issuing and allocating 597mn new ordinary shares of the Company to KPNL as a part of the payment for the investment in KPNL’s property. Net debt to Equity Ratio The interest-bearing debt of the

, capital adequacy ratio (CAR) of KASIKORNBANK FINANCIAL CONGLOMERATE (the 1 In the Annual Report, this item is shown under the topic, “Management Report”. B Conglomerate) according to the Basel III Accord

(times) 0.63 0.62 0.63 0.00 0.01 Quick ratio (times) 0.15 0.12 0.11 (0.04) (0.01) Financial Policy Ratio Liabilities to equity ratio (times) 0.92 1.18 1.27 0.35 0.09 Net interest-bearing debt to equity

the three-month operating results ending on 31 March 2018, which were reviewed by a certified public accountant. In the consolidated financial statement for the period, the Company booked a net loss of