Limited Management Discussion and Analysis 2019 Gross Profit 2019 Gross profit at THB 5,033m represented a significant increase of 55% from the same period last year. Essentially, the Company’s gross profit

(%) 85% Retail Net leasable area (sq.m) 4,317 Offer signed (%) 89% Page 6 of 7 Management Discussion and Analysis 2018 Gross Profit Total year gross profit reached 3,249 million Baht, increased by 33% YoY

rate Unrealized gain from foreign exchange of the convertible bond mainly resulted in net gains on exchange rate of THB 91m in 1Q19. Page 7 of 7 Management Discussion and Analysis 1Q2019 Net Profit 1Q19

50m, 67% increased YoY. Page 6 of 7 Management Discussion and Analysis 2Q2019 Gross Profit 2Q19 Gross profit at THB 985m represented a significant increase of 209% from the same period last year

in sales and overall gross profit margin and effective management over selling and admin expenses, which compensated higher financial expenses and corporate income tax expenses as mentioned above. Net

31, 2018 as follows. The net profit of the Corporate Group for Year 2018 was Baht 422.85 million. In comparison with the previous year with the net profit of Baht 411.61 million, the net profit

end 2017. 7 2017 MD&A: PACE Development Corporation PLC. 2017 Management Outlook and Strategy Profit generation capability of real estate business 1. Details and progress of the Company’s residential

Development Corporation PLC. 2017 Management Outlook and Strategy Profit generation capability of real estate business 1. Details and progress of the Company’s residential projects are as follows: Remark: * In

development derives mainly from higher sales revenue in 2017 and the efficient project cost management leading to higher profit outcome. Lastly, net profit is equivalent to 2 0 . 61 million THB or 9 . 22 % of

. Operating Profit margin stood at 37.4%, mainly attributed to the increase in management income of CPNRF and further operating cost efficiencies and effective cost management. On a quarterly basis (excluding