No. CAZ 1/2019 21st January 2019 Subject: Management Discussion and Analysis year ended 2017 ending 31 December 2017 Attention: The President The Stock Exchange of Thailand CAZ (Thailand) Public

and indebtedness (distinguishing between guaranteed and unguaranteed, and secured and unsecured, indebtedness) as of a date no earlier than 60 days prior to the date of lodgment or submission of the

, increasing at Baht 27.17 million or 266.63 % compared to the year 2017. 1.2.1 Gain on disposal of investment property amount of 12.21 Baht million , the subsidiary has sold a plot of land of title deed No

Fax. +66 2 118 9598 www.pacedev.com Registration No. 0107554000232 บมจ. เพซ ดีเวลลอปเมนท์ คอรป์อเรชัน่ 87/2 ซอีารซ์ ีทาวเวอร ์ออลซซีัน่เพลส ชัน้ 45 ยนูิต 4 ถนนวทิยุ แขวงลมุพนิี เขตปทมุวนั กรงุเทพฯ 10330

29_MDA Q3_62 EN -Translation- No. ECF2 041/2019 November 14, 2019 Subject: Management Discussion and Analysis of the 3rd quarter ended September 30, 2019 To President The Stock Exchange of Thailand

million or equivalent to 94.29% because the installations made according to the financial lease contract and no additional contract. Non-current provisions for employee benefits at Baht 5.58 million

, BUENG KUM, Bangkok 10230 Tel. 02-508-1567 Fax. 02-105-3417 6. BEYOND SECURITIES PUBLIC COMPANY LIMITED NO. 46/7 RUNGROJTHANAKUL, 11TH,12TH FLOOR, RATCHADAPHISEK ROAD, HUAI KHWANG, HUAI KHWANG, BANGKOK

join venture agreement project and claim damages from two former directors. 4.3.2 Reverses and Loss from litigation at Baht 16.56 million, because of Black (Undecided) case no.1008/2547 On January 27

. 92.56 92.56 (90.31) The transactions between New Decade Co., Ltd. and the Company are machine and equipment rental, purchase of construction materials, undertake construction project for Highway No.7

in May 2020 in accordance with the resolution of the Board of Directors’ Meeting No.4/2020 dated 20 April 2020. Please be informed accordingly. Sincerely yours, (Miss Apinya Jarutrakulchai) Senior