Investor Presentaiton

With cost discipline, cost synergy realization going as plan Total Operating Income Total Operating Expense Utb THB million THB million 34,764 32,743 -6% YoY 7,705 7,089 -8% YoY -6% QoQ -4% YoY -7% QoQ -5% YoY 16,569 16,844 3,523 3,971 15,900 3,118 -21% QoQ -12% YoY 7,776 7,928 7,402 27,059 25,654 -5% YoY 13,045 12,872 12,782 -1% QoQ -2% YoY 2Q20 1Q21 2Q21 1H20 1H21 • An economic slowdown from the pandemic resulted in core revenues -6% QoQ and -4% YoY. • . • 1H21 total operating income subsided to TH 32.7 bn. 2Q20 1Q21 2Q21 16,107 15,330 1H20 1H21 -5% YoY Recurrent expenses declined on cost-saving initiatives after merger. OPEX recorded at THB 7.4 bn, down by -7% QoQ and -5% YoY. The Bank made sure stringent cost saving initiatives come along as plan during this uncertain time. • 1H21 total operating expense included one-time separation package and other integration expenses which incurred in the first half. As of Jun-21, the Merged bank's headcount went down to 15,763 personnel (-3.7k after merger), resulting from the Bank's effort to execute merged bank synergies ■ Branch rationalization continues as plan (reduced by -18 branches QoQ, -231 branches YoY). 27

View entire presentation