gradually received payments from installation and delivery of products from project sales; (3) lower available-for-sale investments for working capital; (4) decreased property, plant, and equipment from

million, consisting of (1) cash inflows from operating activities before changes in operating assets and liabilities of Baht 78 million; and (2) cash inflows from net change in working capital of Baht 78

of 2017, the Company had a short-term loan for purpose of increasing working capital. 5. Performance of the Company and its Subsidiaries Management’s Discussion and Analysis (MD&A) For Q1/2018 11

from the connected person is from Loan from the Company, which is a working capital from business operation. Loan from related company will be complied with the Policies of the connected transactions

and Front-End Fee 41.31 2.84 Page 7 Asset and Capital Transaction Initial Cost (Baht million) Initial Cost (percent) 6. Start-up Expense 54.03 3.71 7. Working Capital 41.40 2.84 Total Expenses of the

. Start-up Expense 54.03 3.71 7. Working Capital 41.40 2.84 Total Expenses of the Project Investment 1,456.31 100.00 6. The Basis of the Value of Consideration Paid The Company will enter into the assets

to repay the debt within the specified time and to be able to reduce the burden of increasing interest that occurs from the debt burden. Furthermore, the Company may use the proceeds as the working

of THB 144mn, being adjusted by 1) an increase in net non-cash reconciling items of THB 79mn and (2) an increase in net working capital of THB 102mn. After deducting net cash paid for corporate income

working capital with the total amount of 205 million Baht. 7 | P a g e Pace Development Corporation Public Company Limited 87/2 CRC Tower All Seasons Place, 45th Floor, Unit 3, Wireless Road, Lumpini

million resulted from the Company had a short-term loan for purpose of increasing working capital commencing in 4th Quarter of 2017.  Gain from exchange rate The Company had recorded gain from exchange