KBank Subsidiaries and ASEAN Economic Strategy

Note: K KASIKORNTHAI 1H20 Financial Performance Consolidated 2019 Actual ธนาคารกสิกรไทย 开泰银行 KASIKORNBANK 1H20 Actual (TFRS9 Compliance) NIM 3.31% 3.34% Loan Growth 4.59% YTD 6.23% YTD 10.01% YoY Net Fee Income Growth** -3.61% YoY -5.48% YoY Cost to Income Ratio*** 45.32% Credit Cost per year (bps) 174 bps 311 bps NPL Ratio (Gross)**** ROE ROA 42.00% 3.65% 3.92% 9.90% 1.20% 4.72% 0.56% Notes 1H20 NIM slightly increased mainly due to yield on loans from EIR (TFRS9), lower FIDF cost and saving rate cut despite negative impact from lower yield on loans due to interest rate cut and asset quality 1H20 YTD loans grew mainly from COVID-19 relief measures (mainly from SME) and corporate business 1H20 decreased YoY mainly from loan related fee and card business 1H20 improved from both higher revenue growth and lower operating expenses; focus on cost management and productivity improvement 1H20 credit cost increased due to set aside expected credit loss for prudent of economic recession from COVID19; NPLs ratio increased. Focus more on restructured asset quality management. COVID-19 significantly impacts asset quality. Relief measures help reduce short-term impact to asset quality. NPL will stay at a moderate level for now. Asset quality is closely monitored and constantly reviewed during the payment holiday. *The Bank and its subsidiaries have adopted new accounting standards (TFRS 9: Financial Instruments) since January 1, 2020 onwards, some financial statements and financial ratios are not comparable with previous years' financial figures, which were based on the prior accounting standards (non-TFRS9). ** Net Fee Income Fees and Service Income - Fees and Service Expense; KBank has a 38.25% economic interest in MTL; on the consolidated basis, Bancassurance fees are not included in net fee income, due to the elimination of inter-company transactions (the accounting treatment from the Muang Thai Group Holding consolidation); Non-Interest Income = Total Operating Income - net less Interest Income - net *** Cost to Income Ratio = Total Other Operating Expenses to Total Operating Income - net (Total Operating income less Underwriting Expenses) **** NPL Ratio (Gross) = NPL (gross) to total loans; NPL (gross) used in the calculation are loans to general customers and loans to financial institutions that are non-performing loans; total loans used in the calculation are loans to general customers and loans to financial institutions บริการทุกระดับประทับใจ 7 GDP k KASIKORNTHAI Y2020 Financial Targets Consolidated 2019 Actual 1H20 Actual (TFRS9 Compliant) 2.4% 1Q20 -1.8% Original Y2020 Targets (TFRS9 Compliant) Announced on 24 October 2019 (No longer applicable) ธนาคารกสิกรไทย 开泰银行 KASIKORN BANK Current Assumptions and Corresponding Trends (TFRS9 compliant) Announced on 20 July 2020 2.7% 4-6% Mid-40s Up to 150 bps 3.6-4.0% GDP expected to shrink by -6% to -10% due mainly to COVID-19 impact and global economic uncertainties; it may take at least three years for the economy to near its pre-COVID-19 level Difficult to predict Y2020 financial impact and targets amid uncertainties NIM pressured from lower interest rates and COVID-19 relief measures, amid positive impact from lower FIDF cost of deposits. NIM still holding above 3% Loan growth may be significantly higher than former target (4-6%) due to loan relief measures (mainly from SME). Normal growth from corporate segment and secured retail lending due to data analytics capability Net Fee Income and Non-Interest Income growth will contract sharply due to COVID-19 and other uncertainties; high volatility from gains (losses) on financial instruments measured at fair value through profit or loss (FVTPL) under TFRS9 COVID-19 impacting revenue; focus on cost management and productivity improvement, with some new investments for future growth. Cost to Income may be higher than former target (mid-40s) Credit Cost: Higher Expected Credit Loss (ECL), based on conservative assumptions related to COVID-19 plus prudent financial policy, pushing Credit Cost higher in 2020. Credit Cost may reach or exceed peak Y2017 level (239bps). Credit Cost may remain high for at least three years to be prudent amid high uncertainties NPL: COVID-19 significantly impacting asset quality. Relief measures help reduce short-term impact to asset quality. NPL will stay at a moderate level for now. Asset quality is closely monitored and constantly reviewed during the payment holiday NIM 3.31% 3.34% 3.1-3.3%* Loan Growth 4.59% YTD Non-Interest Income Growth** 1.51% YoY 6.23% YTD 10.01% YoY -7.00% YoY -5% to -17%* (Net Fee Income Growth) (-3.61% YoY) (-5.48% YoY) Cost to Income Ratio*** 45.32% 42.00% Credit Cost per year (bps) 174 bps 311 bps NPL Ratio (Gross)**** 3.65% 3.92% ROE / ROA Capital / Dividend 9.90% / 1.20% 4.72%/0.56% N/A Capital remains sufficient amid COVID-19 impact; Dividends will follow BOT guidance; Board of Directors will consider current and future situations. Note: Refer to the same note on slide number 7 บริการทุกระดับประทับใจ 8

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