://www.pacedev.com http://www.pacedev.com/ 2 2017 MD&A: PACE Development Corporation PLC. Executive Summary (continued) The rising expenses were mainly related to the development of consumer product and significant

increased by 21.98 million baht or 9.61%. This was the result of rising in gains on derivatives 55.21 million baht and falling in gains on investment 35.25 million baht. 4. The Consolidated statements

significant factors were due to higher number of new launched of residential development projects as well as an increase in condominium units transfer fees which subsequently rising the marketing&selling

expenses were THB 33.80 million, increased by THB 4.30 million or up 14.58 percent compared to the same period of last year. Increases in such expenses resulted from rising salesperson and management

comparing TKS, without one-off items, Administrative expenses increased by 4.7% q-q from rising employee expenses. Admin exp.TBSPAdmin exp.TKS % Admin exp. 39 41 3 28 Q1'18 Q1'19 69 + 65.0% 12.6% 10.5% 6.2

/ 4  Total revenue of Q1/2019 increased mainly are results of rising in revenue of rice business, while, revenue from food chain and restaurant declined. The main reasons are less travelers in the

% along with 3-5% rising income per head resulting from the launch of new buildings and the enablement of medical excellence centers as planned. Unit : Million Baht Revenues Structure Six month period 2018

and 27.40 million Baht respectively. The corresponding net profit margins were 5.23% and 8.51% respectively. The net profits increased with rising revenues in each period. The Company’s net profit

continuously increased since the end of 2019. The details are as follows:- Baht per kg Nov-19 21.47 Dec-19 29.75 Jan-20 37.56 Feb-20 34.72 Mar-20 29.41 CPO price started rising because palm output declined by

to rising in price adjustment of rice business, COGs/revenue ratio of Q1/2020 declined to 84%, comparing to 87% of same quarter of last year. • Increasing in selling expenses of 12% are mainly impact