#1X SCB SCB Reimagined Special Analyst Meeting Presentation 22 September 2021#2Notice: • Today's presentation will only focus on the announced plan on "SCB Reimagined" Given the current silent period, there will be no discussion regarding 3Q21 and FY21 financial performance in this meeting. Information contained in this document has been prepared based on several sources and the Bank does not confirm the accuracy or completeness of any such information. In addition, any forward looking statement is subject to change as a result of market conditions and the final result may be different to that indicated. The Bank makes no representation or warranty of any type whatsoever on the accuracy or completeness of any information contained herein. Siam Commercial Bank PCL. | Analyst Meeting Presentation | September 22, 2021 Page 1/27#3Today's agenda 1 Strategic rationale & New vision 2 Transaction timeline 3 Selected subsidiaries Siam Commercial Bank PCL. | Analyst Meeting Presentation | September 22, 2021 Page 2/27#4Our new journey begins... SCB Board resolved to call for EGM approval on the "SCB Reimagined" plan to: - - - Establish SCB* as a parent company for SCB Group to manage Group's capital allocation. and investments through a share swap between SCB Bank and SCB Transfer unsecured lending businesses and selected companies under SCB Bank to SCB* Approve THB 70 billion dividend from SCB Bank to SCB for business/company transfer funding, future dividend for SCB 's shareholders and future SCB^ 's investments X X The above are subject to, where appropriate, approvals from the Bank of Thailand and other regulators, as well as shareholders. Siam Commercial Bank PCL. | Analyst Meeting Presentation | September 22, 2021 Page 3/27#5• . • X SCB To set and align the group's strategic direction From the current bank structure... ...to a technology group Share Holders Share Holders SCB Listed entity SCBA X SCB New listed entity Portfolio Companies React to changing business land scape by adding tech capabilities to bank structure. Bank holding high level of statutory capital Tech-driven subsidiaries operate under banking paradigm • • Delisted Portfolio Companies • Enable flexibility and independence on strategic direction and execution for each portfolio company Effectively ring-fence the bank from risks associated with new investment impacts • Agility for business expansion and talent management with clear value-based measures of success Siam Commercial Bank PCL. | Analyst Meeting Presentation | September 22, 2021 Page 4/27#63 pillars of business to increase capital efficiency and unlock long-term value SCBX's 3 Business Pillars Cash cow Core Banking Services Highly commoditized and competitive market Business profile • . Stable growth Low risk, low ROE Growth Consumer Finance and Digital Financial Services A blue ocean with room for future growth as market still growing and players still developing recipe for success Business profile Growth Digital Platforms and Technology Services Game-changing platform driven businesses to win customers Business profile Platform business model Digitize & Optimize High growth potential High ROE Expand new segments & Develop partnerships • • Small scale with exponential growth opportunities Build new tech capabilities to disrupt Seek regional & inorganic growth, and IPO (domestic and international) Tech-focused Siam Commercial Bank PCL. | Analyst Meeting Presentation | September 22, 2021 Page 5/27#7Vision (5 years) × The Most Admired SCB Local Financial Technology Group In ASEAN. M FinTech Group gg Platform II II Bank ✓ Intermediaries 16M Customers Siam Commercial Bank PCL. | Analyst Meeting Presentation | September 22, 2021 200+M Customers + Regional Page 6/27#8Mission statement SCB X To make finance simple, accessible and affordable for all through the power of technology and innovations Siam Commercial Bank PCL. | Analyst Meeting Presentation | September 22, 2021 Page 7/27#9X Role of SCB to maximize synergies 1 Business Development Dedicated teams to seek new business opportunities for growth Build platforms, create network effect, and expand regionally 2 Capital Management • Utilize full spectrum of domestic and international capital markets Employ financial engineering to create value for portfolio companies 3 Data Synergy • Integrate big data across the group to achieve value-added 4 • Optimize Compliance Ensure overall group compliance and direction as well as manage conflict of interest • Establish good governance for subsidiaries Siam Commercial Bank PCL. | Analyst Meeting Presentation | September 22, 2021 Page 8/27#10X SCB Cash Cow FWD SCBA (Partner) A New Growth Mothership Accelerating innovation to create long term value X SCB Growth AISCB Card X Robinhood SCB (10% Alpha X Auto X Data X CB ☑T TechX monix K CPG-SCB VC Fund TOKEN SCBABACUS SCB Securities Digital Banking SCBAM SCB Julius Bär °/ SCB PROTECT Uniquely positioned Existing customer base allowing for effectively onboard to new platforms Strong business franchise for scaling up and seeking global partnership SCB Bank as a cash cow business to support new growth Siam Commercial Bank PCL. | Analyst Meeting Presentation | September 22, 2021 DIGITAL VENTURES Page 9/27#11New Growth Cash cow X SCB Digitize & Optimize EASY INVEST APP 100,000+ MAUS (aspire to be #1 in digital asset space) AI/ML-based digital lending platform, JV monix with a tech unicorn, (4 million downloads) SCBS ΤΟ ΚΕΝ AI/ML-based food delivery platform (2+ million users) Fund raisings underway and to become Super App Robinhood Connect and enlarge the dots to transition to Tech Company SCBA SCB Digital platforms External Fund Raisings Card X Auto X AISCB Alpha X Data X Tech Dev & Global partners VC Investment SCB (IOX Series A funding (THB 400 million) SCB ABACUS Siam Commercial Bank PCL. | Analyst Meeting Presentation | September 22, 2021 SCB Blockchain-based supply chain platform, serving DIGITAL 23,000+ companies VENTURES Tech solution provider TechX (JV with a leading tech company) USD 400mn VC/ growth investment (6 unicorns) CPG-SCB VC Fund Page 10/27#12Long-term value creation 5-year aspirations 200 million customers with leading platforms across ASEAN through active partnerships and M&A Over THB 1 trillion market capitalization for SCB*; Subsidiary IPOs and start-up unicorns Quality earnings to increase 1.5x and growth business contribution > 1/3 of revenue Leader in digital asset space (crypto exchange, ICO portal, etc.) and relevant capabilities (blockchain, etc.) Fully fledged tech company as an undisputed leader in Tech & Al/data analytics Siam Commercial Bank PCL. | Analyst Meeting Presentation | September 22, 2021 Page 11/27#13SCB will follow global standards and best practices on ESG MEMBER OF Dow Jones Sustainability Indices In collaboration with SAM a RobecoSAM brand Selected as a member of DJSI for the World Index and the Emerging Markets Index in the Bank sector for the 3rd consecutive year MSCI + CDP DRIVING SUSTAINABLE ECONOMIES Rated "AA" on ESG Performance in the Banking Category Rated "B" on Climate Change Management Assessment FTSE4Good THSI THAILAND SUSTAINABILITY INVESTMENT 2020 Selected a member of FTSE4Good Index Series in the FTSE4Good Emerging Index Listed in the Thailand Sustainability Investment (THSI) Asia Sustainability Reporting Awards Asia's Best Sustainability Report (Stand-alone) BRONZE 2020 asra CAC CERTIFIED COLLECTIVE ACTION COALITION AGAINST CORRUPTION Certified as a member of Collective Action Coalition Against Corruption (CAC) since 2017 Siam Commercial Bank PCL. | Analyst Meeting Presentation | September 22, 2021 Page 12/27#14Today's agenda 1 Strategic rationale & New vision 2 Transaction timeline 3 Selected subsidiaries Siam Commercial Bank PCL. | Analyst Meeting Presentation | September 22, 2021 Page 13/27#15X SCB to be set up to facilitate "Reimagined" 1: Initial setup 2: Share swaps 3: One-off dividend 4: Asset transfer SCB' X One-off dividend 金 Swap ratio (1:1) SCB Bank SCB SCBX SCB X Registered & Paid-up capital of THB 10,000 . . • SCB Bank SCB to increase registered capital to THB 34 billion by a 1:1 share-for-share swap with SCB Bank Conditional on a minimum 90% acceptance of the share swap 1/ SCB Bank shares to be delisted/SCB the new listed entity 1/ vs. minimum legal requirement of 75% Siam Commercial Bank PCL. | Analyst Meeting Presentation | September 22, 2021 Use of cash for business/asset transfers One-off dividend payment (THB 70 billion) from SCB Bank to SCB for: . • Business/asset transfers from SCB Bank to SCB • New investment Future dividend payment to shareholders of SCB* Bank/Subsidiaries X Business/assets transfer to SCB for investment in subsidiaries Page 14/27#16Capital redeployment to fund high return businesses One-off dividend THB 70 billion from SCB Bank to SCB* Quality earnings & near-term earnings accretive Platform-based business & future capabilities Operations & future dividend ALPHA AISCB Card X Auto X X JV SCB (10X Robinhood SCBS SCBABACUS montx Siam Commercial Bank PCL. | Analyst Meeting Presentation | September 22, 2021 DIGITAL VENTURES 88 SCB TechX Data X TOKEN K CPG- SCB VC Fund Page 15/27#17Key milestones for the transaction Indicative timeline 3Q21 . • 4Q21 • 1Q22 Key milestones Board approval on September 22 Shareholder approval at EGM on November 15 SEC filing (mid-November) . Tender offer (January) Listing of SCB*/Delisting of SCB (February) X • One-off dividend payment to SCB 2Q22 • Business/asset transfer Siam Commercial Bank PCL. | Analyst Meeting Presentation | September 22, 2021 Page 16/27#18Today's agenda 1 Strategic rationale & New vision 2 Transaction timeline 3 Selected subsidiaries Siam Commercial Bank PCL. | Analyst Meeting Presentation | September 22, 2021 Page 17/27#19Business overview SCB 10X: The digital technology investment and innovation arm (including a newly set up VC fund in partnership with CP Group) Company rationale SCB 10X embarked on a journey to create transformative growth to drive long-term value creation to SCB Group through venture capital & strategic investments, partnership and venture building • Thinking and operating outside of legacy (e.g., systems, processes, policies) allows critical factors such as speed, innovation and entrepreneurial spirit to thrive • Performance VENTURE BUILDING 1 venture successfully fundraising INVESTMENTS 40 Investments USD 400 mn Current Port size 6 APAGAYA BlockFi ripple Unicorns traveloka FLAH (USD 1 bn) gojek Al tech company digital lending in SCB ABACUS Ascending to the position of leading investment and innovation company 2021 INTERNATIONAL FINANCE FINANCIAL AWARDS Global Business Outlook Best new tech investment comp. for start-ups GLOBAL HANS MAGAZINE Most innovative tech investment solutions for start-ups Most innovative new tech investment fund • SCB 10X Digital Asset has proven to be an established asset class with institutional interest on the rise, driven by Bitcoin as a hedge against inflation, as well as financial services in its ecosystem. ⚫ In 1Q21, VC financing continues with record high, especially in DeFi ⚫ SCB 10X continues to invest, build ventures and form credibility in digital technology, among startups, VCs, and Strategic partners community in Thailand and regional, especially in Blockchain and Digital Asset community Core competencies • Strong talent pool from top universities and leading tech companies with strong culture leveraging lean-startup principles Strong brand recognition and becoming the go-to financial institution and investor in the region for Blockchain, DeFi and Digital Assets innovation • • Strong global digital technology network from investors. (including Tier-1 VCs), partners and startups Strong support from SCB Group franchise strengths: brand, customer base, network of ecosystem partners, and data Siam Commercial Bank PCL. | Analyst Meeting Presentation | September 22, 2021 Page 18/27#20Card X: The most admired regional financial platform offering simplest and accessible experience for everyone Company rationale Independent company solely focused on unsecured consumer loans business, acting with autonomy, agility and speed Additional focus on mass/lower segment with new risk appetite to allow for new business models Build innovation and technology capability to solve for financial inclusion for segments previously ineligible Performance (Loans and market share) . • • • THB 120 billion 13% loan o/s 3.7+ million 2.7 million market share loan accounts credit cards • One of the largest consumer loan providers in the industry Target ROA and ROE of over 5% and 20%, respectively Aspiration for IPO in the next 3-5 years Siam Commercial Bank PCL. | Analyst Meeting Presentation | September 22, 2021 • • Business overview Market leader in credit card and personal loan business Providing seamless omni channel platform (digital and physical) with real time decision capability for KYC and instant approvals for consumer loans Card X Establishing ecosystems to gain footprint into target segment, utilize data to build customers persona providing relevant offerings to enhance customers experience Delivering innovative solutions and industry leading cost structure through state-of-the-art technology architecture Core competencies Fully digitized technology capability covering origination, onboarding, servicing, collection, and marketing Strong data capability with expertise in advanced risk analytics, credit scoring, underwriting, and product recommendations Pioneering in both preventive and collection capabilities using predictive data intelligence, real time monitoring, and collection technology (e.g. Autodialer and Voicebot) Page 19/27#21SCB Securities: Aspires to be ASEAN's trusted leader in investment and digital assets services • Company rationale Consumer behavior shifting towards self-directed channel, hence opportunity to digitally transform to improve productivity, drive down cost and enhance profitability Investment penetration in Thailand is still low despite a high penetration of financial services Rise of middle income in ASEAN, creating ample growth opportunities Profitable business with ROE >20% Performance (Digital Platform) EASY Invest - Monthly Average User (in thousand users) 150 100 50 100,000+ monthly users 0 Sep- 19 Dec- 19 Mar- 20 Jun- 20 Sep- 20 Dec- 20 Mar- 21 Jun- 21 . SCB Securities ● . • • • Business overview SCBS is one of the top 3 broker in term of revenue growth and net profit margin, due to its digital-first strategy SCBS is the leading broker in term of new customer sign up, (~50% of total market) through its digital platform, with over 500,000 digital customer as at 1H21 Moreover, SCBS is one of the first traditional financial institution to venture into Digital Assets space for its DA broker, exchange, and ICO portal businesses. Capital market growth remains strong despite COVID-19, with Digital Assets as new emerging business opportunities Core competencies Large digital customer base across all segments (e.g., HNW, affluent, mass retail) Full services and complete suite of investment product offerings (e.g., multiple asset classes, onshore, offshore) Strong tech capabilities, including data analytics, Al, blockchain (leveraging from SCB 10X) Global access to tech and digital asset ecosystem in both CeFi and DeFi space (leveraging from SCB 10X) Siam Commercial Bank PCL. | Analyst Meeting Presentation | September 22, 2021 Page 20/27#22Purple Ventures: Robinhood - Aspire to become Super App • • Company rationale Support establishment of SCB new digital platform Explore and implement new S-Curve revenue model Support business expansion and development across digital value chain, both vertical and horizonal Shift from CSR Model and explore potential monetization from financial and non-financial digitized ecosystem e.g. advertisement, lending Performance • Business overview Purple Ventures Utilize new digital platform to build digital engagement across all segments (Corporates, SME's and Individuals) Establish digital platforms in major digitized industries, such as Food, Mart, Travel, Express Generate engagement and transactions across all major digital pillars Shift away from CSR Model to monetize digital platform through all available avenues (Financial and Non-Financial). For example, advertisements and HORECA Supplier Sales Scale out platform domestically and pursue expansion to regional Core competencies Leverage and support entire SCB Group as an integrated service through networking Organization with data driven insights and monetization in fully digital ecosystems and operations Robinhood 2+ million accumulated users 140,000+ merchants Siam Commercial Bank PCL. | Analyst Meeting Presentation | September 22, 2021 • Create SCB ecosystem by providing digitized products and services Support and leverage non-financial SCB partnerships across industries Expand business model with key strategic partners by leveraging their presence and local insights in various countries in the CLMV+11 Page 21/27#23SCB ABACUS: Recently closed an oversubscribed Series A fundraise with world-class tech VCs, now targeting IPO by 2025 • Company rationale SCB Abacus is on the mission to create better access to finance through inclusive digital lending platforms. The company believes loan process should be fast and convenient for borrowers, without compromising their privacy and security. • To become a prominent regional lender and IPO in 2025 เลือกดูและ สมัครขอสินเชื่อ sau Budodonin било Перебий สินเชื่อตั้งหลักให้เพิ่ม dusan dimmy Wada • 1st tech spin-off with external fundraise in Thai financial sector B a D ✔ dautul 000 Business overview SCB ABACUS KU muala MoneyThunder Fast & Convenient Flexible Rewarding • With two lending licenses (nanofinance and personal loan), SCB Abacus aims to serve the underbanked . Flagship App MoneyThunder was launched in Dec 2019, followed by a buy now, pay later product in 2021 5+ million app downloads to date #1 MAU in non-bank lending apps² Performance >5X growth in registered user base1 >10X growth in loan disbursed and revenue¹ 1 month CAC³ payback period THB 400 million Series A with Openspace, • Core competencies ⚫ Bluechip tech talent with entrepreneurial mindset to act fast, bold and open • Al automation tech developed in-house (own IPs) • • Vertex and CAI in 2021 Siam Commercial Bank PCL. | Analyst Meeting Presentation | September 22, 2021 ⚫ Sophisticated machine learning risk models with uncompromising belief in non-bureau alternative data Partnership network with major platforms to reach 20+ million retail customers 3/ 1/Q2/2021 vs. Q2/2020; 2/ August 2021 (android apps); ³/ Cost of Acquisition Page 22/27#24Digital Ventures: We help banks to become disruptors rather than being disrupted. Digital Ventures • Company rationale Technology platforms will dominate the future. Banks recognize the need to change but unable to do so because of the lack of depth in technologies. We are striving to create platforms that will transform the industry leveraging latest technologies. Performance • о Business overview Spun out from SCB in January 2020 Launched three products: Blockchain for Procure to Pay (B2P) - Enable productivity gains for banks' customers and control risk for supply chain lending associated with both PO & invoices PayZave - Enable trade discount between buyers and sellers bypassing banks traditional lending MeTang - Enable early employee's early salary withdrawals & control risk by tight integration with payroll systems Core competencies o Technology innovation B2P Onboarded 15,000+ companies in less than 2 years, generated lending opportunities approximately 5% of payment PayZave - Onboarded 8,000+ companies in 5 months MeTang - Generated fees equivalent to double digit net interest margin with zero bad debt in the highest risk blue collar segment Blockchain & Distributed ledger technologies 。 Complex system implementation 。 Supply chain management Business process reengineering Siam Commercial Bank PCL. | Analyst Meeting Presentation | September 22, 2021 Page 23/27#25Token X: Provide ICO portal and digital asset tokenization services covering from advisory service to blockchain technology development • • Company rationale Digital Asset has increasingly gained market focus in alternative investment and innovations Along with Blockchain has rapidly adopted into financial transactions Focus on Initial Coin Offering (ICO) • Token X Business overview Token X is in process of acquiring license from SEC, with target to operate in 4Q21 Positioned as 'tokenization success partner' with end-to-end tokenization services with 3Es: ENABLE issuer access to new fund-raising opportunities . Business targets 2021 Building up fundamentals Thailand's leading 2023 tokenization provider 2025 Leading tokenization success partner Siam Commercial Bank PCL. | Analyst Meeting Presentation | September 22, 2021 • ENSURE investor with trusted product and technology • ENGAGE regulators to create new product innovations • Core competencies Industry-based solutions, provides jumpstart platform for shorter time-to-market and strong value propositions Specialized in-house tech capabilities, in-depth knowledge in blockchain technology and tokenization solutions • Operated in 'start-up' culture, motivated towards result- oriented mindset Page 24/27#26MONIX: Strive to be the #1 MAU Financial Application in Thailand; aiming for IPO in 2025. Company rationale To be a one-stop service for lending and investment platform with personalized offerings using cutting-edge Al and machine learning to create opportunities to our customers to live their life with prosperity and impactful return to investor. • Business overview In 2025, unsecured personal lending in Thailand will reach THB 706 billion (+15% CAGR), and MONIX plans to achieve 15.4% market share or THB 106 billion. Now we hit 4 million download within 1 year and become the TOP player in nano finance market in June 2021 with positive monthly net profit. ເປັນຕົວມາມຸນໄດ້ໄປສະໝຸດ aunshu loulo 100,000.00 36yurubino0n MONIX FINNIX Available on the App Store GET IT ON Google Play Performance Loan outstanding (THB million) ● > 4,000 +400% ● 2,263 Fast penetration among target customer 1,623 707 452 Dec 20 Mar 21 Jun 21 Aug 21 Dec 21 Siam Commercial Bank PCL. | Analyst Meeting Presentation | September 22, 2021 • • . Core competencies Synergy from Joint Venture with a Chinese Fintech unicorn Strong data analytic and risk control Caliber Tech team with speed execution - Quarterly big release, Bi-weekly feature improvement Cross-country and cross-culture teamwork - 100% remote working from Bangkok and Beijing site Note: Monthly active users (MAU) Page 25/27#27AISCB JV: First Thai Banking and Telco sector Joint Venture in digital lending • Company rationale Thailand's first JV of Banking and Telco to create growth engine for both firms We see the opportunity to serve a large population in Thailand using digital platform to enhance and simplify financial access for consumers and leveraging upon the strength and unique synergy of both partners. Business overview AISCB JV To provide innovative financial services such as loans, before expanding to other financial services through digital channels to help Thais gain access to financial services at ease in seamless and convenient way Performance Total addressable market - Size (LHS) and # of accounts (RHS) (THB billion) (in million accounts) +18% +7% 499 422 13.2 14.1 Jul'20 Source: Bank of Thailand Jul'21 Jul'20 Jul'21 Siam Commercial Bank PCL. | Analyst Meeting Presentation | September 22, 2021 • Core competencies Leveraging upon AIS' customer insights, strength of digital technology and large customer base nationwide with decent. access to customers and SCB's expertise in data analytics, product development with strong brand value and financial know-how to develop underwriting model and proper risk management Page 26/27#28SCB Tech X: The region's fastest-moving platform-as-a-service solution provider • . Company rationale Digital Transformation has annual market growth rate more than 15% The adoption of advanced technologies rapidly increased after the pandemic The adoption of cloud technology, Internet of things and mobile applications have risen 19%, 16% and 15%, respectively . • . Business overview SCB Tech X Platform-as-a-service company that provides banking and non-banking services (food delivery, online travel booking) to institutions across SEA Enables institutions to rapidly innovate new digital propositions at speed and at a lower cost in the hyper competitive Asian market Builds on success that SCB Group has already generated by serving 10+ million of SCB Group's customers Partnership with one of the world's leading digital business transformation firms Performance # of digital customers under SCB Tech X's platforms (in millions) +12% 13 14 12 8 9 2016 2017 2018 2019 2020 Siam Commercial Bank PCL. | Analyst Meeting Presentation | September 22, 2021 Core competencies Cross-functional and connected platform that enables customers to power everyday transactions and institutions to gain rich, actionable insights: • Digital banking as a service • Digital product and corporate innovation • Fintech evaluation and new product development • Cloud native and emerging technology solutions • . Scaled agile product development & engineering Ecosystem partnerships Page 27/27