) -0.04 -0.13 Gross Margin -2.21% -22.86% Net Profit Margin -22.07% -62.45% Debt to Equity Ratio (Time) 4.36 4.36 Total Expenses Financial Performance of 3rd quarter for 9 months ended September 30, 2017

% y-y and continued growth of bad debt recovery by 21% y-y and account receivable by 5% from the end of last year. 2. Financial Status Total Assets As of August 31, 2018, consolidated total assets were

adoption of TFRS9 financial instruments. As at 31 March 2021, The debt to equity ratio was 0.41 times, the net debt to equity ratio was 0.31 times, the interest-bearing debt to equity ratio was 0.37 times

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

(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

proportion than selling price increase is the main reason why net profit decrease. Graphite Electrode’s price which is a part of conversion cost increase significantly. Separate financial statement, the

of the amount to Non- current liabilities. • Short-term loan from financial institution decreased by Baht 213 million due to repayment of the debt by the Company as per the Debt Settlement Agreement

% Costs from Sale 489.97 478.57 11.40 2.38 Selling Expenses 36.67 38.25 (1.58) (4.13) Administrative Expenses 36.56 37.52 (0.96) (2.56) Financial Expenses 0.00 0.00 0.00 0.00 • Cost of sales increased by

repayment of Bond in upcoming maturity which will reflect to the debt to equity ratio decreasing by year end 2017. Please be informed accordingly. Yours Faithfully, (Ms. Natha Kittiaksorn) Chief Financial

which will reflect to the debt to equity ratio decreasing by year end 2017. Please be informed accordingly. Yours Faithfully, (Ms. Natha Kittiaksorn) Chief Financial Officer PACE Development Corporation