E_1 Legal_FA_2015_12_29-c A CorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2019 Thai economy in 2019 showed decelerating growth at 2.4

 In Q4/2017, the Company and its subsidiary recorded total sales of Baht 1,531 million, an increase of 2% YoY, following growth from domestic CMG launching new products as well as continue growth from

Company. The water utilities business in Vietnam will create the growth to the Company and expand the investment base to foreign countries to serve the business expansion of the Company in foreign countries

Period As Of Details PACE DEVELOPMENT CORPORATION PUBLIC COMPANY LIMITED 2021 Reviewed Consolidated Q2 30/06/2021 PACE DEVELOPMENT CORPORATION PUBLIC COMPANY LIMITED 2021 Reviewed Company Q2 30/06/2021

Economic Growth Sources: Office of the National Economic and Social Development Council and Ministry of Commerce *Projection by KResearch Ye ar -o n- Ye ar C ha ng e (p er ce nt ) 2 1.2 Banking Industry

COMPANY LIMITED COUNTRY GROUP DEVELOPMENT PUBLIC COMPANY LIMITED COUNTRY GROUP HOLDINGS PUBLIC COMPANY LIMITED CP ALL PUBLIC COMPANY LIMITED CP AXTRA PUBLIC COMPANY LIMITED CPN RETAIL GROWTH LEASEHOLD REIT

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

opening ceremony and gave a keynote address on the topic, “The Roles of the Capital Market and the National Economic Development 2021.” He also presented the ASEAN Corporate Governance Scorecard Awards to

?s support for infrastructure fund is a good sign as development of infrastructures is essential for national growth and regional connectivity. This means greater potential for Thailand to become a

increasing the speed and caution for the enforcement process as well as promoting cooperation for human resources development, sharing of knowledge and technological know-how to ensure justice in the