6 December 2007 1 | P a g e Pace Development Corporation Public Company Limited 87/2 CRC Tower All Seasons Place, 45th Floor, Unit 3, Wireless Road, Lumpini, Pathumwan, Bangkok 10330 Tel. 66 2 654

SAAM Energy Development Public Company Limited - 1 - 6 November 2020 Subject: Management Discussion and Analysis for the period ended 30 September 2020 To: The President The Stock Exchange of

transactions, and thus slash our cash management costs, leading to reduced costs for our customers and within the overall economic system in the long run. Within this context, KBank and K Companies accentuate

may grow within a range of 2.9-3.3 percent in 2019, down from the growth of 4.1 percent in 2018. Development of Thai economic sectors during the rest of this year merits close watch after the Monetary

joint venture company, (With“Nomura Real Estate Development” (NRED)) 3. Other income, in the period of the first quarter of 2018, accumulated amount of 78.5 million baht, or 3.2% from the total revenue

revenues from project management service to joint venture company, (With“Nomura Real Estate Development” (NRED)) 3. Gain from transfer of right for land purchase and sale agreements, in the period for 6

and environment – under good corporate governance, appropriate risk management and effective cost management. Prioritizing the development of technological solutions with the aim of becoming “Customers

ที่ บช NO. AC. 004/2017 13 November 2017 Subject: Clarification of changes in operating performance of more than 20% To: The President of the Stock Exchange of Thailand M.K. Real Estate Development

business. Financial Cost Total cost of financing primarily resulted from interest costs in association with project loans, which are capitalized as development costs for respective projects till completion

develop and transfer the remaining units within the next 1-2 years. Moreover, it is in the interest of The Company in pursuing with property development projects that aligns to the cash flow of The Company