Financial Statements for 3 months ended 31 March 2025 (Reviewed)

To the Shareholders and the Board of Directors of CIMB Thai Bank Public Company Limited

I have reviewed the interim consolidated financial information of CIMB Thai Bank Public Company Limited and its subsidiaries, and the interim separate financial information of CIMB Thai Bank Public Company Limited. These comprise the consolidated and separate statements of financial position as at 31 March 2025, the related consolidated and separate statements of comprehensive income, changes in equity, and cash flows for the three-month period then ended, and the condensed notes to the interim financial information. Management is responsible for the preparation and presentation of this interim consolidated and separate financial information in accordance with Thai Accounting Standard 34, "Interim Financial Reporting" and the Bank of Thailand notifications in relation to the preparation and presentation of financial reporting as described in the notes to the interim financial information no. 2. My responsibility is to express a conclusion on this interim consolidated and separate financial information based on my review.

I conducted my review in accordance with the Thai Standard on Review Engagements 2410, "Review of interim financial information performed by the independent auditor of the entity". A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Thai Standards on Auditing and consequently does not enable me to obtain assurance that I would become aware of all significant matters that might be identified in an audit. Accordingly, I do not express an audit opinion.

Based on my review, nothing has come to my attention that causes me to believe that the accompanying interim consolidated and separate financial information is not prepared, in all material respects, in accordance with Thai Accounting Standard 34, "Interim Financial Reporting" and the Bank of Thailand notifications in relation to the preparation and presentation of financial reporting as described in the notes to the interim financial information no. 2.

PricewaterhouseCoopers ABAS Ltd.

Certified Public Accountant (Thailand) No. 4906 Bangkok

14 May 2025

Director Director

The notes to interim financial information are an integral part of this interim financial information.

Share capital 15

Registered

34,822,261,748 ordinary shares

of Baht 0.50 each 17,411,131 17,411,131 17,411,131 17,411,131

Issued and paid-up share capital 34,822,261,748 ordinary shares

The notes to interim financial information are an integral part of this interim financial information.

The notes to interim financial information are an integral part of this interim financial information.

The notes to interim financial information are an integral part of this interim financial information.

The notes to interim financial information are an integral part of this interim financial information.

Share-based payments

Total comprehensive (expense) income for the period

Transfer to retained earnings

Total comprehensive income (expense) for the period Transfer to retained earnings

The notes to interim financial information are an integral part of this interim financial information.

7

Total comprehensive income

The notes to interim financial information are an integral part of this interim financial information.

8

The notes to interim financial information are an integral part of this interim financial information.

9

Non-cash transaction:

The notes to interim financial information are an integral part of this interim financial information.

10

1. General information 12

2. Basis of preparation 12

3. Estimates 13

4. Financial information by segments 13

5. Fair value 16

6. Financial assets measured at fair value through profit or loss 18

7. Derivatives 18

8. Investments, net 20

9. Investments in subsidiaries, net 21

10. Loans to customers and accrued interest receivable, net 22

11. Allowance for expected credit losses 24

12. Financial liabilities measured at fair value through profit or loss 25

13. Debt issued and borrowings 26

14. Provisions 28

15. Share capital 28

16. Capital funds 29

17. Interest income 30

18. Interest expenses 30

19. Net fees and service income 31

20. Gains on financial instruments measured at fair value through profit or loss, net 31

21. Gains on investments, net 32

22. Other operating income 32

23. Expected credit losses 32

24. Corporate income tax 33

25. Encumbrance of assets 33

26. Commitments and contingent liabilities 33

27. Related party transactions 35

28. Events occurring after the reporting date 40

1. ‌General information

   CIMB Thai Bank Public Company Limited ("the Bank") is a public limited company which is listed on the Stock Exchange of Thailand and is incorporated and domiciled in Thailand. The Bank has operated as a commercial bank in Thailand since 8 March 1949. The address of the Bank's registered office is 44 Langsuan Road, Lumpini, Patumwan, Bangkok.

   The Bank is listed on the Stock Exchange of Thailand. For reporting purposes, the Bank and its subsidiaries are referred to as the Group. Its parent company is CIMB Bank Berhad. CIMB Group Holdings Berhad is the parent company of the CIMB Group. Those companies are incorporated in Malaysia.

   All subsidiaries were incorporated as limited companies under Thai laws, and all operate in Thailand, engaging mainly in the hire-purchase and leasing business.

   The interim consolidated and separate financial information was authorised for issue by the Board of Directors on 14 May 2025. This interim consolidated and separate financial information has been reviewed, not audited.

2. ‌Basis of preparation

   The interim financial information has been prepared in accordance with Thai Accounting Standard 34 Interim Financial Reporting. The primary financial information ( statement of financial position, statement of comprehensive income, statement of changes in equity and statement of cash flows) is presented in a format consistent with the annual financial statements complying with Thai Accounting Standard 1 Presentation of Financial Statements. In addition, the interim financial information presentation are based on the Notification of the Bank of Thailand ("BOT") no. SorNorSor 21/2561 The Preparation and Format of the Financial Statements of Commercial Bank and Holding Parent Company of Financial Group dated on 31 October 2018. The notes to the interim financial information are prepared in a condensed format. Additional notes are presented as required by BOT's regulation and the Securities and Exchange Commission under the Securities and Exchange Act.

   The interim financial information should be read in conjunction with the annual financial statements for the year ended 31 December 2024.

   An English version of the interim consolidated and separate financial information has been prepared from the interim financial information that is in the Thai language. In the event of a conflict or a difference in interpretation between the two languages, the Thai language interim financial information shall prevail.

   The accounting policies used in the preparation of the interim financial information are consistent with those used in the annual financial statements for the year ended 31 December 2024.

3. ‌Estimates

   In preparing this interim financial information, the significant judgements made by management in applying the Group's accounting policies and the key sources of estimation uncertainty were the same as those that applied to the consolidated and separate financial statements for the year ended 31 December 2024.

4. ‌Financial information by segments

   Financial information related to the Group' s performance is reviewed regularly by the Group' s management. The segmentation is summarised as follows:

   Retail banking and SMEs

   Consumer banking provides financial services to individuals and commercial customers. The products include consumer sales & distribution, retail financial services, commercial banking and personal financing.

   Wholesale banking

   Wholesale banking comprises of investment banking, corporate banking, and treasury and market.

   • Investment banking service provides financial advisory, trade securities transactions, and asset management businesses.

   • Corporate banking and treasury and market are responsible for corporate lending and deposit taking, transaction banking, treasury and market activities.

   Others

   Other services comprise of all middle and back-office processes, cost centers and nonprofit generating divisions of companies whose results are not material to the Group.

   For financial information related to the Group's financial position which is reviewed regularly by the Group's management. The segmentation is summarised as follows:

   Bank business

   The Bank business is the banking operations of CIMB Thai Bank Public Company Limited. Hire-purchase business

   The hire-purchase business consists of two subsidiaries, CIMB Thai Auto Company Limited and Worldlease Company Limited, which operate hire-purchase of automobile and motorcycle.

   Financial information presented in the interim consolidated financial information as at 31 March 2025 and 31 December 2024 and for the three-month period ended 31 March 2025 and 2024 are as follows:

   Consolidated For the three-month period ended 31 March 2025

   	Retail banking	Wholesale
   	and SMEs Million Baht	banking Million Baht	Others Million Baht	Eliminations Million Baht	Total Million Baht
   Net interest income from external	1,689	177	333	-	2,199
   Net fees and service income	170	197	(5)	-	362
   Other income	392	736	(58)	(47)	1,023
   Other operating expenses	(1,248)	(481)	(25)	47	(1,707)
   Expected credit losses	(807)	(22)	(74)	74	(829)
   Income tax expenses	(39)	(122)	(49)	-	(210)
   Net profit for the period	157	485	122	74	838

   Consolidated For the three-month period ended 31 March 2024

   	Retail banking	Wholesale
   	and SMEs Million Baht	banking Million Baht	Others Million Baht	Eliminations Million Baht	Total Million Baht
   Net interest income from external	1,621	323	373	-	2,317
   Net fees and service income	180	148	(28)	-	300
   Other income	484	517	(62)	(50)	889
   Other operating expenses	(1,726)	(481)	(35)	50	(2,192)
   Expected credit losses	(582)	51	36	(29)	(524)
   Income tax expenses	5	(116)	(53)	-	(164)
   Net (losses) profit for the period	(18)	442	231	(29)	626

   CIMB Thai Bank Public Company Limited Condensed Notes to Interim Financial Information (Unaudited) For the three-month period ended 31 March 2025

   31 March	31 December	31 March	31 December	31 March	31 December	31 March	31 December
   2025	2024	2025	2024	2025	2024	2025	2024
   Million Baht	Million Baht	Million Baht	Million Baht	Million Baht	Million Baht	Million Baht	Million Baht
   530,675 11,431	505,578 6,912	36,245 1,164	36,280 615	(34,029) (1,000)	(33,402) (377)	532,891 11,595	508,456 7,150
   75,918	62,283	-	-	-	-	75,918	62,283
   114,161 241,222	105,584 245,812	419 32,937	820 33,105	- (30,078)	- (30,067)	114,580 244,081	106,404 248,850
   481,511	457,112	31,436	31,386	(31,475)	(30,789)	481,472	457,709
   273,949 101,078	279,306 67,945	- 30,400	- 30,400	(1,000) (30,400)	(377) (30,400)	272,949 101,078	278,929 67,945
   11,122	10,820	-	-	-	-	11,122	10,820
   17,556	18,351	-	-	-	-	17,556	18,351

   Bank business Hire-purchase business Eliminations Consolidated

   Total assets

   Interbank and money market Items, net (assets)

   Financial assets measured at fair value through profit or loss

   Investments, net Loans and accrued

   interest receivables, net

   Total liabilities Deposits

   Interbank and money market Items (liabilities)

   Financial liabilities measured at fair value through profit or loss

   Debt issued and borrowings

5. ‌Fair value
   1. Fair value estimation

      The table below analyses financial instruments carried at fair value, by valuation method. The different levels have been defined as follows:

      • Level 1: The fair value of financial instruments is based on the current bid price/ closing price by reference to the Stock Exchange of Thailand / the Thai Bond Dealing Centre.

      • Level 2: The fair value of financial instruments is determined using significant observable inputs and, as little as possible, entity-specific estimates.

      • Level 3: The fair value of financial instruments is not based on observable market data.

        The following table presents the financial assets and liabilities that are measured at fair value at 31 March 2025 and 31 December 2024.

        Consolidated and Separate 31 March 2025

        	Level 1 Million Baht	Level 2 Million Baht	Level 3 Million Baht	Total Million Baht
        Assets Financial assets measured at fair value through profit or loss	-	75,918	-	75,918
        Investments in debt instruments measured at fair value through other comprehensive income	-	76,755	-	76,755
        Investments in equity instruments
        designated at fair value through other comprehensive income	7	660	20	687
        Derivative assets	-	52,632	-	52,632
        Total assets	7	205,965	20	205,992
        Liabilities Financial liabilities measured at fair value through profit or loss	-	11,122	-	11,122
        Derivatives liabilities	-	58,353	-	58,353
        Total liabilities	-	69,475	-	69,475

        Consolidated and Separate 31 December 2024

        Level 1 Million Baht			Level 2 Million Baht	Level 3 Million Baht	Total Million Baht
        Assets Financial assets measured at fair value through profit or loss -			62,283	-	62,283
        Investments in debt instruments
        measured at fair value through
        other comprehensive income -			68,334	-	68,334
        Investments in equity instruments
        designated at fair value through
        other comprehensive income 9			660	24	693
        Derivative assets -			56,229	-	56,229
        Total assets 9			187,506	24	187,539
        	Liabilities
        	Financial liabilities measured at
        	fair value through profit or loss	-	10,820	-	10,820
        	Derivatives liabilities	-	57,793	-	57,793
        	Total liabilities	-	68,613	-	68,613
        5.2	Valuation techniques used to derive Level 2 fair values

        Level 2 financial assets measured at fair value through profit or loss, investments in debt instruments measured at fair value through other comprehensive income and Investments in equity instruments designated at fair value through other comprehensive income are fair valued using a discounted cash flow approach, which discounts the contractual cash flows using average bidding yields or mark-to-market yield of the Thai Bond Association.

        Level 2 trading and hedging derivatives, and financial liabilities designated at fair value through profit or loss comprise of forward foreign exchange contracts, interest rate swaps, structured debentures, and accreting structured bill of exchanged. These forward foreign exchange contracts have been fair valued using forward exchange rates that are quoted in an active market. Interest rate swaps, structured debentures, and accreting structured bill of exchanged are fair valued using forward interest rates extracted from observable yield curves. The effects of discounting are generally insignificant for Level 2 derivatives.

        5.3 Fair value measurements using significant unobservable inputs (Level 3) Consolidated and Separate Investments in equity instruments designated at fair value through

        other comprehensive income

        31 March 2025 31 December 2024

        Million Baht Million Baht

        Opening balance 24 31

        Losses recognised in other comprehensive income (4) (7)

        Closing balance 20 24

        The Group measures a Level 3 investment in equity instruments at fair value by using comparable company analysis techniques of companies registered in the Stock Exchange of Thailand that the Group considered its financial position comparable with the equity instruments.

6. ‌Financial assets measured at fair value through profit or loss

Million Baht Million Baht Million Baht Million Baht Million Baht Million Baht

Cash flow hedges are used to protect against exposure to variability in future cash flows attributable to movements in foreign exchange rates and interest rates of financial assets and financial liabilities. The Bank hedges cash flows from loan, structure bill of exchange, credit linked note and subordinated debentures against foreign exchange rates risk and interest rates risk using Cross Currency and Interest Rate Swap contract, and Interest Rate Swap contract with CIMB Bank Berhad and other parties.

1. ‌Investments, net Investments in debt instruments measured at amortised cost Consolidated 31 March 31 December 2025 2024 Amortised cost Amortised cost Million Baht Million Baht

   Government and state enterprise securities 37,138 37,377 Private debt securities 1 1

   Total 37,139 37,378

   Less Allowance for expected credit losses (1) (1)

   Total 37,138 37,377

   Investments in debt instruments measured at fair value through other comprehensive income Consolidated 31 March 31 December 2025 2024 Fair value Fair value Million Baht Million Baht

   Government and state enterprise securities	71,253	64,174
   Private debt securities - Domestic	5,502	4,160
   Total	76,755	68,334
   Allowance for expected credit losses	(109)	(118)
   Consolidated 31 March 2025 31 December 2024

   Fair value Dividend receives Fair value Dividend receives Investments in equity instruments designated at fair value through other comprehensive income

   Million Baht Million Baht Million Baht Million Baht

   Domestic marketable equity securities	7	-	9	-
   Foreign non-marketable equity securities	1	-	1	-
   Domestic non-marketable equity securities	679	-	683	23
   Total	687	-	693	23
   Investments, net	114,580	-	106,404	23
   		Separate 31 March 31 December 2025 2024
   		Amortised cost Million Baht		Amortised cost Million Baht
   Investments in debt instruments measured at amortized cost Government and state enterprise securities		36,719		36,557
   Private debt securities		1		1
   Total		36,720		36,558
   Less Allowance for expected credit losses		(1)		(1)
   Total		36,719		36,557

   Separate

   	31 March 2025		31 December 2024
   	Fair value		Fair value
   	Million Baht		Million Baht
   Investments in debt instruments measured
   at fair value through other comprehensive income
   Government and state enterprise securities	71,253		64,174
   Private debt securities - Domestic	5,502		4,160
   Total		76,755 68,334
   Allowance for expected credit losses		(109) (118)
   		Separate
   	31 March 2025	31 December 2024
   	Dividend		Dividend
   Fair value	receives	Fair value	receives

   Million Baht Million Baht Million Baht Million Baht

   Investments in equity instruments designated at fair value through other comprehensive income

   Domestic marketable equity securities	7	-	9	-
   Foreign non-marketable equity securities	1	-	1	-
   Domestic non-marketable equity securities	679	-	683	23
   Total	687	-	693	23
   Investments, net	114,161	-	105,584	23

   As at 31 March 2025 and 31 December 2024, the Group had investments pledged as collateral, as mentioned in note 26 to the interim financial information.

2. ‌Investments in subsidiaries, net

   Separate

   Percentage of holding Cost method

   		31 March	31 December	31 March	31 December
   Nature of	Type of	2025	2024	2025	2024
   Company name business	securities	%	%	Million Baht	Million Baht

   Subsidiaries - included in consolidated financial information

   CIMB Thai Auto Company Limited Hire- Purchase of

   automobile and

   motorcycle Common stock 99.99 99.99 2,328 2,328

   World Lease Company Limited Hire-purchase of

   motorcycle Common stock 99.99 99.99 567 567

   Investments in subsidiaries, net 2,895 2,895

   All subsidiary undertakings are included in the consolidation. The proportion of the voting rights in the subsidiary undertakings held directly by the parent company do not differ from the proportion of ordinary shares held. There are no other type of shares issued by subsidiaries other than ordinary shares.

3. ‌Loans to customers and accrued interest receivable, net
   1. Classified by type of loans Consolidated Separate

      31 March 31 December 31 March 31 December
      2025		2024	2025	2024
      Million Baht Million Baht Million Baht Million Baht
      Bank overdrafts	2,092	2,285	2,092	2,285
      Loans	192,544	193,333	192,513	193,308
      Bills	15,775	19,685	46,175	50,085
      Hire-purchase receivables	35,517	35,693	-	-
      Others	332	324	332	324
      Total loans to customers	246,260	251,320	241,112	246,002
      Add Accrued interest receivable and undue interest receivable	6,913	6,561	6,983	6,548
      Total loans to customers and accrued interest receivable	253,173	257,881	248,095	252,550
      Less Allowance for expected credit losses (Note 11)	(9,092)	(9,031)	(6,873)	(6,738)
      Loans to customer and accrued interest receivables, net	244,081	248,850	241,222	245,812

   2. Classification of loans

      The Group classified loans by business type and classification as summarised below:

      Loans of the Group Consolidated Loans and accrued interest receivable

      	31 March 2025 Million Baht	31 December 2024 Million Baht
      Financial assets with an insignificant increase in credit risk	232,543	237,173
      Financial assets with a significant increase in credit risk	13,212	13,521
      Credit-impaired financial assets	7,232	7,001
      Purchased or originated credit-impaired financial assets	186	186
      Total	253,173	257,881

      Separate Loans and accrued interest receivable

      	31 March 2025 Million Baht	31 December 2024 Million Baht
      Financial assets with an insignificant increase in credit risk	234,865	239,244
      Financial assets with a significant increase in credit risk	6,654	6,998
      Credit-impaired financial assets	6,390	6,122
      Purchased or originated credit-impaired financial assets	186	186
      Total	248,095	252,550

   3. Hire purchase and finance lease receivables

      Subsidiaries had receivables under hire purchase agreements, mostly comprising hire purchase agreements and financial leases for cars and motorcycles. The term of the agreements are between 3 - 7 years and interest is mostly charged at a fixed rate.

      Consolidated 31 March 2025 Amounts due under lease agreement

      	Less than 1 year Million Baht	1 - 5 years Million Baht	Over 5 years Million Baht	Total Million Baht
      Gross investment in the lease	12,216	29,591	2,061	43,868
      Less Unearned finance income	(3,383)	(4,840)	(128)	(8,351)
      Present value of minimum lease payments receivable	8,833	24,751	1,933	35,517

      Less Allowance for expected credit

      losses (2,629)

      Net receivables under hire-purchase

      agreements and financial leases 32,888

      Consolidated 31 December 2024 Amounts due under lease agreement

      	Less than 1 year Million Baht	1 - 5 years Million Baht	Over 5 years Million Baht	Total Million Baht
      Gross investment in the lease	12,073	29,685	2,336	44,094
      Less Unearned finance income	(3,334)	(4,941)	(126)	(8,401)
      Present value of minimum lease payments receivable	8,739	24,744	2,210	35,693

      Less Allowance for expected credit

      losses (2,632)

      Net receivables under hire-purchase

      agreements and financial leases 33,061

      During the period 31 March 2025, subsidiary hasn't sold non-performing loans for hire-purchase vehicles. (31 March 2024: The subsidiary realised gains on sale of non-performing loans totalling Baht 99 million. These non-performing loans have been written-off according to the Group's policy.)

4. ‌Allowance for expected credit losses

   Consolidated
   			31 Mar	ch 2025
   	Financial
   	assets with an	Financial assets with	Credit-	Purchased or originated
   	insignificant	a significant	impaired	credit-impaired
   	increase in credit risk	increase in credit risk	financial assets	financial assets	Surplus allowance	Total
   	Million Baht	Million Baht	Million Baht	Million Baht	Million Baht	Million Baht
   Balance as at 1 January 2025	2,616	1,749	2,931	186	1,549	9,031
   Change due to reclassification	(40)	(110)	150	-	-	-
   Change due to new estimation of credit loss	(126)	199	921	-	-	994
   Newly acquired or
   purchased financial assets	219	9	-	-	-	228
   Derecognised financial assets	(146)	(88)	(185)	-	-	(419)
   Write-offs	-	(1)	(741)	-	-	(742)
   Balance as at 31 March 2025	2,523	1,758	3,076	186	1,549	9,092
   Consolidated
   			31 Dece	mber 2024
   	Financial
   	assets	Financial		Purchased or
   	with an insignificant	assets with a significant	Credit-impaired	originated credit-impaired
   	increase in	increase in	financial	financial	Surplus
   	credit risk	credit risk	assets	assets	allowance	Total
   	Million Baht	Million Baht	Million Baht	Million Baht	Million Baht	Million Baht
   Balance as at 1 January 2024	2,193	2,366	3,454	14	1,549	9,576
   Change due to reclassification	(180)	(549)	729	-	-	-
   Change due to new estimation
   of credit loss Newly acquired or	186	353	3,183	-	-	3,722
   purchased financial assets	701	33	-	186	-	920
   Derecognised financial assets	(284)	(450)	(852)	(5)	-	(1,591)
   Write-offs	-	(4)	(2,138)	(9)	-	(2,151)
   NPLs sale	-	-	(1,445)	-	-	(1,445)
   Balance as at 31 December 2024	2,616	1,749	2,931	186	1,549	9,031
   			Separate
   			31 March 2025
   	Financial
   	assets	Financial
   	with an insignificant	assets with a significant	Credit- Purchased or impaired originated
   	increase in	increase in	financial credit-impaired		Surplus
   	credit risk Million Baht	credit risk Million Baht	assets financial assets Million Baht Million Baht		allowance Million Baht	Total Million Baht
   Balance as at 1 January 2025	1,999	632	2,464 186		1,457	6,738
   Change due to reclassification	(11)	(56)	67 -		-	-
   Change due to new estimation
   of credit loss Newly acquired or	(31)	61	245 -		-	275
   purchased financial assets	165	7	- -		-	172
   Derecognized financial assets	(142)	(10)	(9) -		-	(161)
   Write-offs	-	(1)	(150) -		-	(151)
   Balance as at 31 March 2025	1,980	633	2,617 186		1,457	6,873

   Separate 31 December 2024

   	Financial
   	assets with an	Financial assets with	Credit-	Purchased or originated
   	insignificant	a significant	impaired	credit-impaired
   	increase in credit risk	increase in credit risk	financial assets	financial assets	Surplus allowance	Total
   	Million Baht	Million Baht	Million Baht	Million Baht	Million Baht	Million Baht
   Balance as at 1 January 2024	1,760	1,278	3,064	14	1,457	7,573
   Change due to reclassification	(66)	(279)	345	-	-	-
   Change due to new estimation of credit loss	39	(316)	1,215	-	-	938
   Newly acquired or
   purchased financial assets	528	20	-	186	-	734
   Derecognised financial assets	(262)	(67)	(146)	(5)	-	(480)
   Write-offs	-	(4)	(569)	(9)	-	(582)
   NPLs sale	-	-	(1,445)	-	-	(1,445)
   Balance as at 31 December 2024	1,999	632	2,464	186	1,457	6,738

5. ‌Financial liabilities measured at fair value through profit or loss Consolidated and Separate

   	31 March	31 December
   	2025 Million Baht	2024 Million Baht
   Debenture	581	562
   Bills of Exchange	10,541	10,258
   Total	11,122	10,820

   Consolidated and Separate 31 March 2025 31 December 2024 Million Baht Million Baht

   Cumulative change in fair values due to a change in credit risk

   of liabilities recognised in other comprehensive income 92 123

   Difference between book values and notional amounts to be settled

   as the contracts mature 1,096 868

   As at 31 March 2025 and 31 December 2024, financial liabilities measured at fair value through profit or loss consisted of:

   • The Bank issued structured debentures (Maxi V-Plus THOR Inverse Floater Structured Debenture) with a maturity of 5 years, which the returns that are inversely to the underlying index level ( Interest rate Thai Overnight Repurchase Rate - THOR). The bank will pay interest 4 times per year and will repay full amount of the principal at maturity date.

   • The Bank issued accreting structured bills of exchange embedded interest rate swap with predetermined return rate and conditions. The maturity date is between 10.9 - 15 years (31 December 2024: 10.9 - 15 years). They bear interest rate at 2.70% - 5.05% per annum (31 December 2024: 2.70% - 5.05% per annum) with a payment of interest at maturity date. The Bank entered into interest rate swaps with other parties for hedging interest rate risk.

6. ‌Debt issued and borrowings

Subordinated debentures of

RM 660 million, maturing in 2031, coupon rate of 3.90% per annum

Subordinated debentures of

RM 415 million, maturing in 2033, coupon rate of 4.70% per annum

Subordinated debentures of

THB 2,000 million, maturing in 2034, coupon rate of 3.90% per annum

Structured debentures

Structured bills of exchange

Total

1. As at 31 December 2024, the bank has short-term debentures of Baht 1,034 million, no interest rate. The debenture has a tenor 3 months and will mature in January 2025.

2. As at 31 March 2025, the Bank has Subordinated debentures of Baht 10,224 million (31 December 2024: Baht 10,182 million) as follows:

   • On 12 July 2021, the Bank issued MYR 660 million of subordinated debentures pursuant to tier II subordinated debenture programme, 6,600,000 units of MYR 100 each, interest rate of 3.90% per annum with a payment of interest every six months. The debenture has a tenor of 10 years and is due in 2031. The Bank may exercise its right to early redeem the debenture after 5 years. The Bank has an approval from the Bank of Thailand to count the subordinated debenture as tier II capital according to the correspondence For Nor Sor1. 81/2564.

   • On 29 March 2023, the Bank issued MYR 415 million of subordinated debentures pursuant to tier II subordinated debenture programme to overseas investors, 4,150,000 units of MYR 100 each, interest rate of 4.7% per annum with a payment of interest every six months. The debenture has a tenor of 10 years and is due in 2033. The Bank may exercise its right to early redeem the debenture after 5 years. The Bank has an approval from the Bank of Thailand to count the subordinated debenture as tier II capital.

   • On 28 October 2024, the Bank issued THB 2,000 million of Green Subordinated Debentures pursuant to tier II subordinated debenture programme to institutional investors and/or special high net worth investors/ or high net worth investors (PP-II&HNW), 2,000,000 units of THB 1,000 each, interest rate of 3.90% per annum with a payment of interest every three months. The debenture has a tenor of 10 years and is due in 2034. The Bank may exercise its right to early redeem the debenture after 5 years. The Bank has an approval from the Bank of Thailand to count the subordinated debenture as tier II capital.

3. As at 31 March 2025, the Bank has structured debentures of Baht 1,834 million (31 December 2024: Baht 1,630 million) as follows:

   • The Bank has structured debentures (Maxi X-Change) of USD 10 million and JPY 25 million which equivalent to Baht 345 million and Baht 365 million (31 December 2024: USD 1.8 million which equivalent to Baht 60 million

     and Baht 324 million) with 1 - 3 months (31 December 2024: 1 - 3 months) from respective issuance dates. The Bank will pay interest at maturity date according to the movement of the underlying.

   • The Bank has structured debentures (Fund Link Note) of USD 0.8 million which equivalent to Baht 28 million and Baht 699 million (31 December 2024: USD 0.8 million which equivalent to Baht 28 million and Baht 811 million) which will mature in 3 years (31 December 2024: 3 years), the return is based on movement of the price of mutual fund.

   • The Bank has structured debentures linked foreign exchange rate (FX-Linked Digital Bull Note) of USD 1 million which equivalent to Baht 35 million (31 December 2024: USD 1.3 million which equivalent to Baht 45 million) which will mature in 6 months (31 December 2024: 6 months), the return is based on movement of exchange rate.

   • The Bank has credit linked notes (CLN) of USD 2 million which equivalent to Baht 73 million and THB 22 million (31 December 2024: USD 2 million which equivalent to Baht 73 million and THB 22 million) which will mature in 2 - 5 years (31 December 2024: 2 - 5 years). The holder will receive coupon amounts and the redemption amount on the maturity date according to the conditions of agreement, subject to no credit event determination occurring with respect to the reference entity.

   • The Bank has structured debentures (The Equity Shark Fin Bull Structured Debenture) of Baht 267 million (31 December 2024: Baht 267 million). The holder will receive a repayment upon scheduled maturity date subject to a movement of the level of the underlying security.

4. As at 31 March 2025, the Bank had credit linked bill of exchange (CLN) of Baht 5,498 million (31 December 2024: Baht 5,505 million) as follows:

   • The Bank issued CLN of Baht 1,800 million (31 December 2024: Baht 1,800 million) which will mature in 10 years. The holder will receive all coupon amounts on respective coupon payment date and the redemption amount on the maturity date, subject to no credit event determination occurring with respect to the reference entity. The credit linked bills of exchange bear interest rate at 3.75% - 4.01% per annum (31 December 2024: 3.75% - 4.01% per annum) with a payment of interest every 6 months.

   • The Bank issued CLN of USD 109 million or equivalence Baht 3,698 million (31 December 2024: USD 109 million or equivalence Baht 3,705 million) which will mature in 8 - 15 years. The holder will receive all coupon amounts and the redemption amount on the maturity date according to the conditions of agreement, subject to no credit event determination occurring with respect to the reference entity. The credit linked note bills of exchange bear interest rate at 6M LIBOR + 1.6597% to 6M LIBOR + 2.3925% per annum with a payment of interest every 6 months.

1. ‌Provisions Consolidated Separate 31 March 2025 31 December 2024 31 March 2025 31 December 2024

   Million Baht Million Baht Million Baht Million Baht

   Allowance for expected credit losses of

   loan commitments and financial guarantee contracts	161	170	178	185
   Provision for contingent loss from legal cases	11	11	5	5
   Provision for employee benefits	1,363	1,364	1,243	1,244

   Provision for restoration 12 12 12 12

   Total provisions 1,547 1,557 1,438 1,446

2. ‌Share capital Consolidated and Separate 31 March 2025 31 December 2024 Number Amount Number Amount

   Million shares Million Baht Million shares Million Baht

   Registered

   Beginning of the period/year

   - Ordinary shares	34,822	17,411	34,822	17,411
   Issue of shares	-	-	-	-
   End of the period/year	34,822	17,411	34,822	17,411
   Issued and paid-up
   Beginning of the period/year - Ordinary shares	34,822	17,411	34,822	17,411
   Issue of shares	-	-	-	-
   End of the period/year	34,822	17,411	34,822	17,411

3. ‌Capital funds

The primary objectives of the Group's capital management are to maintain the Group's ability to continue as a going concern and to maintain a capital adequacy ratio in accordance with the Banking Business Act B.E. 2551. The capital funds comprise:

Total Tier I capital fund 46,731 16.73 46,924 16.96

Total Tier II capital fund 12,961 4.64 12,900 4.66

Total capital funds 59,692 21.37 59,824 21.62

Total Tier I capital fund 45,081 16.10 45,253 16.33

Tier II

Total Tier II capital fund 13,057 4.66 12,992 4.68

Total capital funds 58,138 20.76 58,245 21.01

The Bank has maintained capital fund and liquidity coverage ratio under BOT notification of international capital requirement standards under the Basel III regulatory framework in accordance with the Notification of the Bank of Thailand.