QUARTERLY BUSINESS HIGHLIGHTS – 3M 2020 Consolidated revenue decreased by 13.7% YoY to THB 612mn o Advertising revenue increased by 3.1% YoY to THB 270mn o System integration services revenue decreased by

Baht Net cash received from operating activities 5,453 Net cash payment for investing activities (10,294) Net cash received from financing activities 1,078 Gain from the effect of foreign exchange rate

fee (5,962,911.52) (9,396,413.79) (2,079,740.23) (3,633,085.03) 916,072,182.88 1,076,456,480.14 332,869,252.42 422,815,907.62 Unit: Baht Consolidated financial statements Separate financial statements

% Profit before FX and extraordinary items 1,790 1,688 2,293 28% 36% 3,091 3,981 29% Net foreign exchange gain (loss)2 242 (30) (5) (102%) (83%) 190 (35) (118%) Net profit 2,031 1,658 2,288 13% 38% 3,281

14th March 2019 (the first day that GPSC has recognize GLOW’s performance in the consolidated financial statement) to reflects the company's true earnings from its normal operations. In Q4/2019, such

to the lower price of natural rubber, mainly material. Trade and Other Receivable As of 31st December 2019, trade accounts receivable and other receivables shown the value as the net realized gain

Equity ratio Time 1.59 1.68 Net Interest Bearing Debt to Equity ratio Time 1.35 1.39 * The operational results were calculated based on the consolidated financial statements which consist of the Expressway

based on the consolidated financial statements which consist of the Expressway Business, Rail Business, Commercial Development Business, and return on investment in other companies. Therefore, there was

June 30, 2020 To The President The Stock Exchange of Thailand Management’s Discussion and Analysis Consolidated Financial Statements For six months ended June 30, 2020 Overall Group Performance Table 1

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