72.2 baht per share as of February 28, 2019. Debt to Equity ratio as of February 29, 2020 at 3.6 times decreased from 3.8 times at the end of 2018. Return on Equity (ROE) and Return on Asset (ROA) for

(x) 1.69 1.93 (0.24) The increase in current portion from long-term loan Return on Equity (%) 0.79 1.96 (5.95) The decrease of operational performance Debt-to-Equity Ratio (x) 0.20 0.19 0.01 The

Bearing Debt to Equity Ratio is 1.03 times. Management Discussion and Analysis, Q2/2018 Page4/4 Thus, you have been informed for your acknowledgement Sincerely Yours, - Singed - (Mr.Wongsakorn

Management Discussion and Analysis For the first quarter ended March 31, 2019 (Unreviewed) Kiatnakin Bank Public Company Limited Investor Relations Email: investor_relations@kiatnakin.co.th Tel. +66

(MD&A) Page 11 of 15 Net debt to equity ratio stood at 0.35x Net interest-bearing debt to equity ratio stood at 0.35 times, an increase from 0.07 times from the end of last year, on higher net debt as

follows; Financial ratio Y2018 Y2017 Liquidity (times) 11.02 11.81 Debt to Equity (times) 0.11 0.10 Return on Equity (%) 2.40% 5.81% Return on Assets (%) 2.18% 5.15% Gross Profit Margin (%) 15.38% 15.00

the gross profit ratio of rent and services business at similar level to the previous year. Hence, CPN continues to implement effective and cost management and prudent cost control measures to maintain

%. Meanwhile, total interest-bearing debt stood at THB 9,529 mn, a decrease from THB 17,904 mn from the previous year as a result of effective financial management to match the money and capital markets

profit for Q1’ 2018. 6 The appropriate of capital structure The Group’s debt to equity ratio as at 31 March 2018 is 1.9:1, which is closed to the debt to equity ratio as at 31 December 2017 at rate of 2.0

baht or 7% over the end of fiscal year 2018. Consequently, book value as of August 31, 2019 was 77.4 baht per share, increased from 72.2 baht per share as of February 28, 2019. Debt to Equity ratio as of