due largely to major public and private projects delays to Q2/2019 and Q3/2019; - Wholesales/Retails down 6% Y-O-Y mainly from a highly competitive environment and weak consumer spending; - Whilst

environment. In the first quarter, the Company adjusted strategy to expand outlets by expanding branches franchise business. This is a new business opportunity that can attract local business networks by

is satisfactorily competitive in power business which was resulted by favorable factors as follows; Thailand 73% The Philippines 11% Lao PDR 9% Indonesia 4% Australia 3% Thailand The Philippines Lao

percent, driven mainly by a favorable growth of the global economy which positively impacts on export sector, an acceleration of public investment along with the progress of key investment projects and

clients, volume from existing IUs started to show the recovery sign with 17% growth in July from monthly average in Q2’2020. Furthermore, the trend of gas price looks favorable to our SPP business with a

result of favorable sales growth in Vietnam and Myanmar markets. Profit for the period L&E’s consolidated profit for the period of Q1/2018 was posted at Baht 19.9 million, up 485 % or Baht 16.5 million

thanks to the increase in same-store sales figures from company Lighting Solution Centers at both Ratchadapisek and Ratchapruk branches; - Export sales jump 55% Y-O-Y due primarily to the favorable growth

32.8% from energy favorable prices. Costs were controlled and the total expenses in quarter 3 reported at Baht 333.6 million, a decrease of 25.9% over the same period last year. As a result, the Company

and Din’s, both of which received favorable responses from consumers. However, over the course of 2019, the economic situation and consumer confidence continuously worsened and this negatively impacted

Contents Page Executive Summary A 1. Overview of Operating Environment 1 1.1 Global and Thai Economy in the First Quarter of 2018 1 1.2 Banking Industry and Competition 2 1.3 Regulatory Changes 2 2. Risk