Bangkok Bank : Minutes of the 30th Annual Ordinary Meeting of Shareholders

Internal Use Only

Summary in English

of the Minutes of

the 30th Annual Ordinary Meeting of Shareholders of

Bangkok Bank Public Company Limited ("the Bank")

April 12, 2023

The Bank's Auditorium on the 29th and 30th Floors, Head Office

333 Silom Road, Silom Sub-district, Bang Rak District, Bangkok, Thailand

The Meeting was convened at 15.30 hrs.

Mr. Phornthep Phornprapha, Chairman of the Board of Directors, was on a mission overseas and could not attend the 30th Annual Ordinary Meeting of Shareholders ("Meeting"). Mr. Deja Tulananda, Vice Chairman of the Board of Directors therefore acted as Chairman of the Meeting. This is in accordance with Section 104 of the Public Limited Companies Act, B.E. 2535 and the amendment, and the Bank's Articles of Association, Article 36, which stipulates that in the event that Chairman of the Board of Directors is not present at the shareholders' meeting or unable to perform duties, Vice Chairman shall act as the chairman of the meeting.

Mr. Kobsak Pootrakool, the Corporate Secretary ("Secretary"), reported that the Meeting was attended by 569 shareholders who attended in person, accounting for 11,551,357 shares or 0.61 percent of issued and paid -up shares, and 8,106 shareholders who were represented by proxies, accounting for 1,177,678,928 shares or 61.70 percent of total issued and paid-up shares. The total number of shareholders who attended in person and were represented by proxies was 8,675 shareholders, accounting for 1,189,230,285 shares or 62.30 percent of the total 1,908,842,894 issued and paid-up shares, thus constituting a quorum pursuant to the Articles of Association of the Bank.

The Meeting was attended by directors and senior executives of the Bank and the auditors as follows:

Directors who attended the Meeting: 17 directors attended the Meeting (accounting for 85 percent of the total number of directors).

1.	Mr. Deja	Tulananda	Vice Chairman of the Board of Directors, and
			Chairman of the Board of Executive Directors
2.	Mr. Siri	Jirapongphan	Independent Director, Chairman of the Audit
			Committee
3.	Mr. Chatchawin	Charoen-Rajapark	Independent Director, and Chairman of the
			Nomination and Remuneration Committee
4.	Mr. Chokechai	Niljianskul	Independent Director, Chairman of the Corporate
			Governance Committee, and Member of the Risk
			Oversight Committee
5.	Mr. Bundhit	Eua-arporn	Independent Director, Member of the Audit
			Committee, and Member of the Nomination and
			Remuneration Committee
6.	Ms. Parnsiree	Amatayakul	Independent Director, and Member of the Corporate
			Governance Committee
7.	Mr. Predee	Daochai	Independent Director, and Member of the
			Nomination and Remuneration Committee
8.	Mr. Amorn	Chandarasomboon	Member of the Board of Executive Directors, and
			Member of the Risk Oversight Committee
9.	Mr. Pichet	Durongkaveroj	Member of the Board of Executive Directors
10.	Mr. Charamporn	Jotikasthira	Member of the Board of Executive Directors
11.	Mr. Chartsiri	Sophonpanich	President, and Member of the Board of Executive
			Directors
12.	Mr. Suvarn	Thansathit	Director and Senior Executive Vice President,
			Member of the Board of Executive Directors, and
			Member of the Risk Oversight Committee
13.	Mr. Chansak	Fuangfu	Director and Senior Executive Vice President,
			and Member of the Board of Executive Directors
14.	Mr. Boonsong	Bunyasaranand	Director and Senior Executive Vice President
15.	Mr. Chong	Toh	Director and Senior Executive Vice President

Minutes of the 30th Annual Ordinary Meeting of Shareholders, April 12, 2023

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16.	Miss Niramarn	Laisathit	Director and Senior Executive Vice President,
			and Member of the Board of Executive Directors
17.	Mr. Kobsak	Pootrakool	Director and Senior Executive Vice President,
			Member of the Board of Executive Directors,
			and Member of the Corporate Governance
			Committee

Directors who were absent from the meeting:

1.	Mr. Phornthep	Phornprapha	Chairman of the Board of Directors
2.	Mr. Arun	Chirachavala	Independent Director, Chairman of the Risk
			Oversight Committee, and Member of the Audit
			Committee
3.	Mr. Singh	Tangtatswas	Member of the Board of Executive Directors and
			Member of the Corporate Governance Committee
Senior executives who attended the Meeting:
1.	Ms. Suteera	Sripaibulya	Senior Executive Vice President
2.	Mr. Siridej	Aungudomsin	Senior Executive Vice President
3.	Mr. Kukkong	Ruckphaopunt	Senior Executive Vice President, Manager,
			Technology Division
4.	Mr. Thawat	Treewannakul	Senior Executive Vice President, in charge of
			Credit Management
5.	Mrs. Oranuch	Nampoolsuksan	Executive Vice President, Manager, Accounting
			and Finance Division, and Chief Financial
			Officer (CFO)

The auditors from Deloitte Touche Tohmatsu Jaiyos Audit Co., Ltd. who attended the Meeting were:

1.	Ms. Nisakorn	Songmanee
2.	Mr. Chavala	Tienpasertkij
3.	Mr. Kasiti	Ketsuriyonk
4.	Miss Pattima	Jarukitisakul
5.	Miss Tiwaporn	Pornkangwansirithorn
6.	Mr. Nithat	Sae-ngow

Mr. Deja Tulananda, Chairman of the Meeting thanked the shareholders for attending the Meeting and opened the Meeting.

Prior to the consideration of the agenda, the Secretary explained the procedures regarding voting, counting of votes and reporting of the voting result on each agenda item as follows.

For the purpose of voting, each ordinary share or preferred share shall be counted as one vote. If any shareholder has interests in any matter on which the Meeting shall pass a resolution, such a shareholder shall not have the right to vote on such matter, except to vote on the election of directors. Each shareholder has votes equal to the number of shares held, and must vote whether to agree, disagree, or abstain from voting with all one's shares.

Shareholders cannot divide the number of shares to vote, except for the proxies from custodians in Thailand, who are the custodians of foreign shareholders, as they can divide their votes as entrusted by each foreign shareholder.

In voting on each agenda item, the Chairman shall inquire whether any shareholder wishes to cast a dissenting vote or to abstain from voting. In the event a shareholder wishes to cast a dissenting vote or to abstain from voting, such a shareholder is requested to identify himself/herself, to indicate his/her vote on the ballot received during registration and sign the ballot. The Bank's officers will collect such ballots for the counting of votes.

In the event that more than one box is marked in the ballot (except in the case of proxies from custodians in Thailand), the mark on the ballot is not clear, the ballot is crossed out, or there is no signature on the ballot, such ballot shall be considered a voided ballot and will not be counted.

In counting the votes, dissenting votes and abstentions indicated on the proxy forms and ballots will be counted, the total of such votes will be subtracted from the votes of the total number of shares of those shareholders attending the Meeting, and the remaining number of votes will be considered as voting for the approval of the said agenda item.

Minutes of the 30th Annual Ordinary Meeting of Shareholders, April 12, 2023

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In counting the votes for each agenda item of this year's Annual Ordinary Meeting of the Shareholders, the Bank will use the majority vote of the shareholders who attended the Meeting and cast their votes without counting the votes of the abstaining shareholders in Agenda Item 2, 3, 4 and 6. For Agenda Item 7 regarding the amendment of the Bank's Articles of Association, the number of votes for approval must not be less than three -fourths of the total number of votes of shareholders attending the Meeting and having the right to vote.

For the shareholders who cast votes in advance and the shareholders who have appointed the Bank's directors to attend and vote on their behalf, their votes will be counted in accordance with their intentions.

It is noted the number of votes for each agenda item may not be equal, as there are more shareholders or proxies attending the meeting or exiting early.

Results of the counting of votes will be reported to the Meeting in the subsequent agenda, which the results shall detail the approval, disapproval, abstention and invalid ballot. Results of the agenda of election of directors replacing those retiring by rotation shall be reported individually.

The shareholders who wish to leave the Meeting are requested to return ballots to the Bank's officers outside the meeting room for record-keeping purpose.

If any shareholder wishes to ask questions or comment, he/she is requested to write the questions or comments together with his/her name and surname on the paper provided by the Bank and to pass it to the Bank's officer who will gather and hand it to the Secretary to read during the relevant agenda items, together with questions sent by shareholders in advance. Questions in English will be translated into Thai and answered in Thai.

For the counting of votes, three witnesses were appointed at each counting point on the 29th Floor and 30th Floor, namely one person from Deloitte Touche Tohmatsu Jaiyos Audit Co., Ltd. (the Bank's auditor firm), and two volunteer shareholders who were chosen by the Chairman of the Meeting. The panel of three witnesses at each counting point comprised: (1) for the counting point on the 30 th Floor: Mr. Nithat Sae-ngow, an auditor, and Ms. Kingtean Atireklapsakul and Mr. Phaotep Kongtanakomtunyakit, representatives of shareholders; and (2) for the counting point on the 29th Floor: Miss Tiwaporn Pornkangwansirithorn, an auditor, and Miss Areyawan Rasameekobkul and Miss Suthima Vachranukulkieti, representatives of shareholders.

The Secretary informed the Meeting that the Bank had provided shareholders with the opportunity to propose items to be included in the agenda of the Meeting, to nominate candidates for election as directors, and to submit questions in advance about any agenda item prior to the Meeting. No shareholder proposed any matters to be included in the agenda or nominated any candidates for election as directors. However, some shareholders submitted questions in advance regarding certain agenda which would be raised and answered during the relevant agenda items.

Agenda No. 1

Acknowledgement of the report on the results of operations for the year 2022

The Chairman assigned the Secretary to present details on this agenda.

The Secretary requested the Meeting to acknowledge the report on the results of operations for the year 2022, and the major developments during the year. Details of the results of operations for the year 2022 appeared on page 91 - 116 of the 56-1 One Report 2022 and the 56-1 One Report 2022 summary of financial information which were sent to shareholders together with the meeting invitation letter.

As of December 31, 2022, the Bank's total assets amounted to Baht 4.42 trillion, an increase of Baht 88,000 million from the previous year. Loans amounted to Baht 2.68 trillion, an increase of Baht 94,000 million due mainly to loans to large corporate customers and loans made through the Bank's international network. Total liabilities amounted to Baht 3.91 trillion, an increase of Baht 76,000 million, due mainly to deposits which increased by Baht 54,000 million. Shareholders' equity attributable to owners of the Bank amounted to Baht 505,346 million, an increase of Baht 12,619 million.

The Bank's total operating income increased by Baht 4,354 million mainly due to a rise in net interest income following an increase in loan volume and the rising interest rate trend. The Bank's net fees and service income decreased from securities business and bancassurance and mutual funds. Meanwhile, the Bank's operating expenses increased partly due to working stream development and improvement expenses.

In 2022, the Bank set aside lower expected credit losses, compared to the previous year, which still was consistent with its prudent approach, having taken into consideration global economic volatility that may affect the recovery of the Thai economy going forward. This resulted in the consolidated net profit attributable to the Bank in 2022 of Baht 29,306 million, an increase of Baht 2,799 million from the previous year.

Minutes of the 30th Annual Ordinary Meeting of Shareholders, April 12, 2023

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The Bank attached importance to anti-corruption. The anti-corruption policy had been established to show the direction and framework of the Bank's anti-corruption and corruption prevention. Directors, executives and employees of the Bank have a duty to adhere to and comply with the anti-corruption policy. In addition, the Bank had cooperated and supported government and private sector measures against corruption. The Bank had been a member of the Private Sector Collective Action Coalition Against Corruption ("CAC") since 2015.

In 2022, the Bank conducted its own corruption risk assessment in accordance with the guidelines of the National Anti-Corruption Commission and CAC. In addition, an online seminar on the topic of "Anti-Corruption" was arranged for directors, executives and employees by inviting experts from the Anti-Corruption Organization of Thailand as speakers to provide knowledge and raise awareness of the importance of anti-corruption.

The Secretary stated that shareholders and proxy had sent questions in advance about the following matters:

1. Many banks around the world have faced some troubles since Silicon Valley Bank in the US was shut down with repercussions spreading to other commercial banks in the US. Credit Suisse in Switzerland experienced serious liquidity problem and was finally acquired by UBS with the Swiss National Bank's intervention. How can Bangkok Bank maintain customer confidence that the Bank is stable and able to strengthen the Thai financial institution system?

The President explained that the closure of Silicon Valley Bank, the acquisition by UBS of Credit Suisse and problems of some banks in the US were problems specific to those entities. They do not affect Thai financial institutions in general, including Bangkok Bank. The Bank has implemented various policies to achieve stability and risk diversification in order to be able to cope with volatility at present and in the future.

2. What measures does Bangkok Bank have in place to prevent the loss of money in a client's deposit account or illegal use of the client's deposit account and to create safety for the Bank's customers so that they will not become victims of fraud? Does the Bank have any measures to prevent money laundering and illegal transfer of money into and out of the country, for example the cases of two bags of money, call center fraud and online gambling?

Executive Director (Mr. Charamporn Jotikasthira) explained that the Bank has strict measures in account opening by following a strict KYC process in order to verify and understand our customers. The Bank warned customers not to be bribed to open accounts for others and to have precautionary measures, such as not sending all types of links via SMS and not sending links requesting for important information via social media. In addition, the Bank had measures to detect and monitor unusual transactions. In terms of measures in response to and dealing with the said problem, the Bank has provided a channel for customers to report incidents through a Hotline on a 24-hourbasis. The Bank has also supported investigations by the police in order to track down perpetrators.

3. What measures does the Bank have to prevent and suppress fraudsters using the names of the Bank and the Bank's executives to deceive investors through social media?

Executive Director (Mr. Charamporn Jotikasthira) explained that the key principle is to communicate and inform customers and the public about these fraudulent scams on the Bank's website and mobile banking channels. The Bank also informs customers to be careful when disclosing information; for example, they should not share their personal information with others.

4. Does Bangkok Bank plan to restructure itself in the form of a holding company like what SCB X Public Company Limited has done?

The President explained that the Bank's current structure is suitable for the Bank's business.

5. What is the future trend of corruption in the banking or financial sector? Will it change? You may also answer this question to an extent relevant to the Bank only.

The Secretary explained that the Bank has an anti-corruption policy which is the main framework for the Bank's operations in anti-corruption and fraud prevention. The Bank's directors, executives and employees have a duty to adhere to and comply with the anti-corruption policy. In addition, the Bank has supported government and private sector measures against corruption. The Bank has been a member of CAC since 2015. In 2022, the Bank conducted its own corruption risk assessment and organized an online seminar on the topic of "Anti-Corruption" for its directors, executives and employees by inviting experts from the Anti-Corruption Organization of Thailand as speakers to provide knowledge and raise awareness about the importance of anti- corruption.

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6. In providing loans to individuals or businesses having issues related to corruption, environment, human trafficking and drugs, how does the Bank to ensure it will reject such loan applications or be strict in these matters?

The President explained that the Bank has established a responsible lending policy which takes into account Environmental, Social and Governance (ESG) aspects, including anti-corruption, as guiding principles and direction for its credit underwriting.

7. What policies on corruption does the Bank wish political parties to push?

The Secretary commented that enforcement of anti-corruption laws should be encouraged with punishment for offenders and that the confiscation process should be adjusted to be more efficient and effective. This will help reduce the cost of the system and positively affect Thailand's overall economy in a sustainable way.

8. Is it true that when the Bank's employees cheat customers, it counts as a personal fault and the Bank does not have to be responsible?

The President explained that it depends on individual circumstances on a case-by-case basis with due consideration of the behavior and offence of employees.

The Chairman invited the shareholders to ask additional questions and express their opinions at the Meeting by writing them down on the paper provided. There were questions from shareholders as follows:

A shareholder wanted to know the Bank's business goals in 2023, such as the target for loan growth and NIM in a rising interest rate environment, and would like to know if the Bank is interested in expanding into new businesses such as virtual banking or branchless banking.

The President explained that the Bank expects 2023 loan growth rate to be between 4% - 6%, coming from various business units, including corporate banking, commercial banking, business banking, consumer banking and international banking, according to their respective conditions and markets. Circumstances such as the outbreak of COVID-19, the war between Russia and Ukraine and the conflict between the US and China have resulted in changes to the supply chain in various regions and this will continue. These situations have affected globalization and caused more localization, which will be to the benefit of Asia, particularly ASEAN, and will be beneficial for the Thai economy going forward.

Executive Director (Mr. Charamporn Jotikasthira) explained that at present, the Bank has introduced new technologies to develop the Bank's capabilities and upgrade the Bank's services in many areas, especially services for retail customers, in order to be competitive in the market. These new capabilities may overlap with services offered by virtual banks, for example, a variety of digital services via mobile -first and paperless end-to-end processes which can be processed immediately in the form of online, real -time,straight-through processing, including the use of a new core banking platform, the use of data for decision-making, and the design of a virtual bank operating model that does not require branches or ATMs, resulting in low costs. All of these are things that the Bank has to develop on a regular basis. The Bank is currently implementing a plan to improve its retail banking services in order to be able to compete with new competitors that provide virtual banking services. Whether or not to obtain a Virtual Bank License is an issue that needs to be carefully considered.

A shareholder inquired about (1) income from overseas business in 2023 compared to 2022 and the business direction of PT Bank Permata Tbk ("Permata Bank") in 2023 and the level of profitability that will be contributed to the Bank, (2) budget in 2023 for investment in digital operations, and (3) financial cost of the Bank's digital operations and management.

The President explained that the Bank estimates that loans made through the Bank's international network in 2023 would grow by 5% - 6%, under the Bank's projected total loan growth of 4% - 6%, of which international loans accounted for approximately 23% - 25% of the Bank's loan portfolio. Permata Bank's size is approximately 10% - 12% of the Bank. The Bank puts priority on IT investment and invests consistently for approximately Baht 5,000 - 7,000 million per year.

There were no further questions and comments from the Meeting.

The Chairman proposed that the Meeting acknowledge the report on the results of operations for the year 2022.

The Meeting acknowledged the report.

Minutes of the 30th Annual Ordinary Meeting of Shareholders, April 12, 2023

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