E_1 Legal_FA_2015_12_29-c A brWCorpL.1hig A Executive Summary Management Discussion and Analysis For the Quarter Ending September 30, 2019 Thai economic activity in the third quarter of 2019

continued to grow at 25% YoY. This was impacted by financial statement adjustment in accordance with new Thai accounting standards. According to the previous accounting standards, Q3/2019 total sales would

to grow at 3% YoY from sales recognition of new and some existing products. This was impacted by financial statement adjustment in accordance with new Thai accounting standards. According to the

durable goods. The Thai economy hence showed ongoing improvement from the first quarter. Nonetheless, the economic expansion, which was still limited and uneven, affected the performance of KBank and our

follows. Financial performance Statement of income Consolidated Financial Statements for Quarter 3 of 2020 Quarter 3 of 2019 Change (Unaudited but reviewed) (Unaudited but reviewed) Increase (Decrease) THB

E_1 Legal_FA_2015_12_29-c A brWCorpL.1hig A Executive Summary Management Discussion and Analysis For the Quarter Ended June 30, 2018 The Thai economy in the second quarter of 2018 gained further

Q3/16 Q2/17 Q3/17 Change +/(-) 9M/16 9M/17 Change +/(-) (Unit: THB million) QoQ YoY 9M Operating revenue 5,176 5,459 4,243 (22%) (18%) 16,214 15,067 (7%) Gross profit 1,046 1,256 1,199 (5%) 15% 3,485

statements for the first quarter ended March 31, 2020 were prepared in accordance with the Thai Financial Reporting Standard No.9 Financial Instruments (TFRS 9) and Thai Financial Reporting Standard No.16

account, bond dealing, private repos and other investments. The Company’s DW business was significantly impacted by the extreme volatility of the Thai stock market during March 2020. The Company is a market

Highlights in Q2/2019 1 Q2/18 Q1/19 Q2/19 Change +/(-) 1H/18 1H/19 Change+/(-) (Unit: Million Baht) QoQ YoY Operating revenue 6,587 9,067 19,990 120% 203% 12,329 29,057 136% Gross Profit 1,836 2,493 6,011 141