Kasikornbank Public : Establishment of Joint Venture and Investment in Carabao Conglomerate

Ref. OS. 080/2022

July 21, 2022

To: The President

The Stock Exchange of Thailand

Subject: Establishment of Joint Venture and Investment in Carabao Conglomerate

KASIKORNBANK PUBLIC COMPANY LIMITED ("KBank") would like to announce that on July 21, 2022, KBank signed a Memorandum of Understanding with Carabao Conglomerate to establish a joint venture. KASIKORNBANK FINANCIAL CONGLOMERATE will hold more than 50 percent of the shares in order to hold a controlling interest in said joint venture.

The Board of Directors of KASIKORNBANK PUBLIC COMPANY LIMITED resolved to approve the joint venture on January 27, 2022, which shall be a subsidiary of KASIKORNBANK FINANCIAL CONGLOMERATE. The Bank of Thailand granted approval for the joint venture establishment on May 27, 2022. The details are:

Business:	Financial Services
Objective:	To provide financial services for retail customers, grocery stores, and
	suppliers in the ecosystem of Carabao Conglomerate in order to make
	financial services more accessible to retail customers in community
	areas, including providing support to retail businesses and driving
	community economic development across Thailand

In addition to the joint venture establishment, KASIKORNBANK FINANCIAL CONGLOMERATE is in a process of considering a joint investment plan with TD TAWANDANG COMPANY LIMITED in order to strengthen the business of TD's retail stores.

The establishment of the joint venture, the investment in TD TAWANDANG COMPANY LIMITED, and all financial support to Carabao Conglomerate will total approximately Baht 15,000 Million.

Please be informed accordingly.

Yours sincerely,

KASIKORNBANK PCL

(Mr. Patchara Samalapa)

President

Office of Corporate Secretary Tel. [phone]