According to the resolution of the Board of Directors of Thai Commercial Bank Public Company Limited at its meeting No. 2/2020 on February 19, 2020, the date for the 197th Annual Shareholders' Meeting was set for April 2, 2020. However,

due to the ongoing situation with the COVID-19 pandemic, which is unpredictable in terms of severity during the time of the Annual Shareholders' Meeting, the bank recognizes the seriousness of this situation.

Therefore, for the safety of all shareholders and related parties, and to prevent the spread of COVID-19, the Board of Directors at its meeting No. 4/2020 on March 24, 2020, made the following resolutions:

1. Approve the postponement of the 197th Annual Shareholders' Meeting. Once the COVID-19 pandemic has ended or eased, the bank will consider setting a new date for the Annual Shareholders' Meeting and will notify the new date along with the agenda. The board has canceled the previously scheduled date of April 2, 2020, for the 197th Annual Shareholders' Meeting and has also canceled the list of shareholders entitled to attend the meeting as previously announced on March 4, 2020.
2. Approve the payment of an interim dividend from the 2019 operating results according to the latest financial statements ending December 31, 2019, which have been audited by the bank's auditors, to preferred and common shareholders at a rate of 4.00 baht per share.

It should be noted that the bank had already paid an interim dividend to preferred and common shareholders on September 13, 2019, at a rate of 1.50 baht per share, totaling 5,099 million baht.

Thus, the total dividend from the 2019 operating results (excluding special dividends) that the bank pays amounts to 5.50 baht per share, totaling approximately 18,696 million baht, which represents 46.2% of the net profit for the year 2019 according to the consolidated financial statements. This rate is the same as previously announced through the Stock Exchange of Thailand on February 19, 2020. The dividend payment will be made to shareholders who are entitled to receive dividends as per the bank's regulations, as listed on the record date of April 10, 2020, which is the same date previously announced through the Stock Exchange of Thailand on February 19, 2020, with the payment scheduled for April 22, 2020. Shareholders are requested to exercise their rights to receive dividends within a period of 10 years.

Additionally, on February 14, 2020, the bank paid a special interim dividend to preferred and common shareholders at a rate of 0.75 baht per share, totaling 2,549 million baht, bringing the total dividend paid by the bank for the 2019 fiscal year to 6.25 baht per share, totaling 21,245 million baht, which represents 52.5% of the net profit for the year 2019 according to the consolidated financial statements. This is in line with the bank's dividend payment policy. The aforementioned dividends are paid from retained earnings that are subject to a corporate income tax rate of 20%, and individual shareholders can claim a tax credit on dividends received at a rate of 20/80 of the dividends received. The board's consideration to approve the dividend payment this time is to ensure that the rights of shareholders to receive dividends are not affected by the postponement of the 197th Annual Shareholders' Meeting.

Based on Section 115, paragraph three of the Public Limited Companies Act B.E. 2535, which grants the board the authority to pay interim dividends, this is in accordance with the guidelines outlined in the letter from the Securities and Exchange Commission regarding the holding of annual shareholders' meetings of registered companies under the COVID-19 pandemic situation, dated March 6, 2020.