depreciated in relative to USD currency, the asset value in AUD currency decreased. Management Discussion and Analysis For the Year Ended December 31, 2019 Page 10 3. Analysis of statement of financial position

financial statement due to the changes in the fair value of the interest acquired in Geothermal Power Plant project in Indonesia Q2/2019 performance of the Company and its subsidiaries reported a consolidated

value adjustment of investment due to reclassification in the amount of Baht 2,030 Million, net of corporate income tax. 4. On September 21, 2018, the Supreme Administrative Court rendered the judgement

and Analysis For the 1 st Quarter Ended 31 March, 2018 Page 2 2. Operation performance according to consolidated financial statement Unit : Million Baht 2018 2017 Revenue from sale and rendering of

(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

change in the first half of this year as well as increasing number of beds in service. Operation : Consolidated Profit & Loss Statement 4Q 4Q % 12 mth 12 mth % Unit : THB million 2018 2017 change 2018 2017

price lower than par value 33.64 0 -33.64 -100.00 33.64 - - - - - - Total 1,016.53 861.77 -154.76 -15.22 281.36 214.26 226.18 11.92 5.56 -55.18 -19.61 Revenue 715.65 604.99 -110.66 -15.46 177.22 156.15

. This was mainly caused by the reduction of input tax of solar cell and equipment for solar energy which has been gradually deducted from output tax during the 9 months. Statement of financial position

intermediary shall arrange a process ensuring that the client is aware of risks relating to trading derivatives by at least preparing risk disclosure statement which contains the minimums of particulars and