E_1 Legal_FA_2015_12_29-c A CorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2019 Thai economy in 2019 showed decelerating growth at 2.4

E_1 Legal_FA_2015_12_29-c A WWCCoorrppLL44..11hhiigg A Executive Summary 1 Management Discussion and Analysis For the Year Ended December 31, 2017 In 2017, Thai economic growth gained traction

E_1 Legal_FA_2015_12_29-c A WCorpL4.1hig A Executive Summary of Management Discussion and Analysis 1 For the Year Ending December 31, 2018 In 2018, the overall Thai economy maintained its growth due

FINANCIAL CONGLOMERATE (the Conglomerate) according to the Basel III Accord was 17.70 percent, with a Tier 1 capital ratio of 15.41 percent. All of the above endeavors and satisfactory operating performance

adequacy ratio (CAR) of KASIKORNBANK FINANCIAL CONGLOMERATE (the Conglomerate) according to the Basel III Accord was 18.96 percent, with a Tier 1 capital ratio of 16.50 percent. Being aligned with our

Conglomerate’s capital adequacy ratio (CAR) according to the Basel III Accord was 17.63 percent, with a Tier 1 capital ratio of 15.25 percent. KBank has emphasized synergy with K Companies, strategic partners and

CONGLOMERATE (the Conglomerate) according to the Basel III Accord was 19.10 percent, with a Tier 1 capital ratio of 16.76 percent, remaining a sufficient cushion against risk, and greater than the Bank of

percent, with a Tier 1 capital ratio of 15.57 percent. Being aligned with our business strategies, all of the above endeavors allowed KBank and K Companies to meet business targets and at the same time gain

repercussions for the Thai financial sector, combined with the enforcement of Thai Financial Reporting Standards related to Financial Instruments (including TFRS9) since January 1, 2020, which affects

หน้า 1 จาก 1 Translation May 8, 2018 Subject: Management explanation and analysis for Quarter ended 31 March 2018 Attn: The Managing Director, the Stock Exchange of Thailand Pacific Pipe Public