UOB Kay Hian Securities (Thailand) Public Company Limited at its Board meeting held on August 25, 2023 Approved to pay the insurance premium to UOB- Kay Hian Holdings Limited for the year 2023-2024 and UOB-Kay Hian Holdings Limited will subsequently pay the fee to United Overseas Insurance (UOI). UOB- Kay Hian Holdings Limited has made a policy covering Insurance, Directors& Officers' Liability and Financial Institutions Crime & Civil Liability Primary and Secondary Layer with United Overseas Insurance (UOI) for all securities companies within the group including the Company. UOI's major shareholder is United Overseas Bank Limited with a shareholding of 58% which holds approximately 39.71% shares of UOB-Kay Hian Holdings Limited.

UOB-Kay Hian Holding Limited holds 70.65 % of the Company shares). The Company agreed to renew the policy from the date of expiry in 2022. The coverage period is to 31 January 2024.

The expense to be allocated to each company is proportionate to the number of employees in each company. For Thailand, the allocation is equivalent to SGD 411,378 or approximately THB 14.64 million or 0.392% of net tangible asset (NTA), which is considered a medium sized transaction (amount between THB 1 million ­ THB 20 million or 0.3 ­ 3 % of NTA).