Current liabilities 692.25 1,570.71 Non-current liabilities 704.53 273.12 Total liabilities 1,396.78 1,843.84 (447.06) Equity 883.54 253.87 629.67 Consolidated financial information The group’s assets

) Current liabilities 538 794 (256) Non-current liabilities 541 569 (29) Total liabilities 1,079 1,363 (285) Equity 854 827 27 Consolidated financial information (Unit : Million Baht) Change

that the auditor could not reach a conclusion on the valuation report of PACE’s equity investments in Pace One and Pace Three, conducted by an independent financial advisor, regarding the estimation of

consolidated statement of comprehensive income for Q2 and Q3/2017 on the basis that the auditor could not reach a conclusion on the valuation report of PACE's equity investments in Pace One and Pace Three

Page 1 of 3 GEL.CS.001/2563 2 March 2020 Subject: Management Discussion and Financial Analysis for the operating results as at December 31, 2019 To: Director and Manager The Stock Exchange of

financial statements of the Company and its subsidiaries for the year ended 31st December 2018. In 2018, the Company achieved consolidated profits (attributable to equity holders of the parent) of Baht 1,083

liabilities 5,070.6 2,025.5 3,045.1 150.3 Total liabilities 190,447.7 194,268.7 (3,821.0) (2.0) Total owners’ equity 36,514.5 36,279.6 234.9 0.6 LH Financial Group Public Company Limited Management Discussion

at June 30, 2018, the consolidated debt to equity ratio was 0.45 time and the consolidated net debt to equity ratio was considerably low at 0.30 time. Financial Highlights 2Q 2018 2Q 2017 Change 6M

foreign exchange contract in amount of THB 7,744.04 million. Capital Structure The Company and its subsidiaries had strong financial position. As at September 30, 2018, the consolidated debt to equity ratio

March 31, 2019 To The President The Stock Exchange of Thailand Management’s Discussion and Analysis Consolidated Financial Statements For three months ended March 31, 2019 Overall Group Performance Table