Investor Presentaiton

Better-than-plan cost synergy realization Cost synergy drivers Branch # branch -230 Cost synergy realization to-date THB bn Utb ☑ 894 664 Accelerated branch rationalization thru the launch of co-location format before EBT New cost saving 1.8 from action done in 2021 2019 2Q21 3.2 3.0 '000 FTEs HR -3.7k Smaller branch -0.9 footprint, process -1.5 Integration cost & write-off (one-time) automation and Recurring cost saving from actions in prior periods THB 5.6 bn accumulated net cost synergy Vs. ~10-12 bn 5-year synergy value (shared to investors on 24 Jan 2020) 19.4 15.7 economy of scale let to lower no. of headcounts 2020 1H21 2019 2Q21 THB bn Marketing -1.6x 2019 2Q21 Cost saving from less marketing in duplicated products e.g., TBANK'S Ultra saving vs. TMB's No Fixed Accumulated net cost synergy since the merger value at THB 5.6 bn, well over the initial target as recurring cost savings (e.g., HR and branch rationalization) came early since 2020. Cost savings from synergies has well covered one-time integration and written-off expenses. 6

View entire presentation