to: • Decrease in financial cost of THB 17 Million consequent to debt reduction programme. • Net gain from exchange rate of THB 71 Million resulting from the strengthen in Thai Baht, whilst last year

crude steel production in the first half of 2018 was 881.5 million tons, up by 4.6% compared to the same period in 2017. The region with most production was Asia (including China, but not including the

of THB 45 million compared to unrealized exchange gain of THB 19 million and reversal of loss on devaluation of inventories of THB 122 million during the same period last year. The Company has recorded

, significantly increase from gain on joint venture investment of totaling 7,113 Million Baht 6 2017 MD&A: PACE Development Corporation PLC. Statement of Financial Position Assets As at June 30th, 2017, the total

THB 59 million which is in line with normal operation in 1Q18. The extraordinary items included THB 169 million gain from sales of investment in 1Q18, THB 60 million negative impact from closure of

% 129 -37% 337 1,260 -73% Selling and administrative expenses (2,266) (1,730) 31% (2,148) 5% (7,614) (7,376) 3% Exploration and evaluation expense 4 (0.1) N/A (15) 128% (1) (45) 99% Gain (loss) from crude

south country region of the South West Interconnected System (“SWIS”) of Western Australia. Management Discussion and Analysis For the Year Ended December 31, 2018 Page 4 1.7 Share Purchasing to Operate a

from the previous quarter which had sold 1 cargo. However, there was an impairment loss of Technical Goodwill on Gjøa Field. Moreover, during this quarter, gain from changes in investment interest in

) Gain on Sales of Fixed Assets - - 0.26 0.02 (0.26) (100.00) Gain on Foreign Exchange Rate – Net - - 0.41 0.04 (0.41) (100.00) Other Revenue 2.30 0.21 1.47 0.13 0.83 56.46 Total Other Revenue 2.30 0.21

Total Revenue from Sales and Services 940.57 99.57 966.99 99.47 (26.42) (2.73) Gain on Sales of Fixed Assets - - 1.00 0.10 (1.00) (100.00) Gain on Foreign Exchange Rate – Net 1.41 0.15 0.80 0.08 0.61