SAAM Energy Development Public Company Limited - 1 - 12 May 2020 Subject: Management Discussion and Analysis for the period ended 31 March 2020 To: The President The Stock Exchange of Thailand SAAM

Development Co., Ltd. (“NRED”) by disposal of 26,460,000 ordinary shares, with the par value of THB 10 per share, ), comprised of 49,000 ordinary shares with paid up capital of Baht 10 per each share and

and buildings awaiting development -Long-term loans from financial institutions due within one year -Obligations under finance leases current portion due within one year 50,000 75,746 21,984 17,528 338

6 December 2007 1 | P a g e Pace Development Corporation Public Company Limited 87/2 CRC Tower All Seasons Place, 45th Floor, Unit 4, Wireless Road, Lumpini, Pathumwan, Bangkok 10330 Tel. 66 2 654

. Within August 2018 2. Related Parties and the relationship with Listed Company. Lender: Eastern Water Resources Development and Management Public Company Limited. Borrower: Universal Utilities Public

of these digital tokens are eligible for multiple offerings under a single application. These tokens can be offered without limits on the total amount or number of offerings within a two-year period

preemptive right to subscribe to the additional shares: Completion date of Capital Injection Payment for PT AEON Credit Service Indonesia (“ACSI”) is within the end of October, 2018. Contractual parties with

business to alleviate the revenues loss such as open new business in F&B and the development a condominium for sale under brand “Newera” which yield a good margin. The detail of performance can be described

% 91.15 % - 2.61 1.3 Sales and service income - Property development - Concrete products and others Baht 100.89 million Baht 20.67 million Baht 80.22 million 388.10 Baht 88.75 million Baht 72.51 million

subsidiaries companies: Company Business Relationship with AEONTS AEON Systems System Development - AEON Systems is 90% owned by AFS - AEON Systems is 3.3% owned by AEONTS *AEON Financial Service Co., Ltd. (“AFS