Opportunity Day Y2022

Bangkok Commercial Asset Management PCL.

February 28, 2023
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Table of Contents

Y2022 Key Highlights Key Financial Updates

Collection Overview Y2023 Strategies

NPLs & NPAs Performance ESG Performance

NPLs & NPAs Supply

and BAM’s Acquisition
 2022 Year in Review
No RT-PCR tests Covid-19 downgraded as a
Collection Y2022 Thailand raised Covid-19 alert level Full post-pandemic
required when entering “communicable disease” that
due to Omicron spread. Thailand reopening needs to be monitored
• Total collection: 16,951 MB
+6% YoY (2021: 15,996 MB) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
97% of target (Y2022 target: 17,488 MB)
• NPLs Collection: +16% YoY 3,118
• NPAs Collection: -6% YoY
2,423 2,552
2,277
NPLs & NPAs Acquisition 2,022 1,881
• Total investment: 8,253 MB 1,539
NPLs: Principal Balance 15,286 MB 1,140
(at 8,079 MB cost)
NPAs: Appraised Value 385 MB NPAs
(at 174 MB cost) NPLs
Q1: 3,162 Q2: 3,962 Q3: 4,433 Q4: 5,394 unit: MB

Net Profit
• Q4/2022: 867 MB • Collection +7% YoY • Small to Medium-size • Collection +12% QoQ, • Seasonality improvement
+21% QoQ -12% YoY • Economy began to debtors’ repayments +14% YoY +22% QoQ, +10% YoY
• Y2022: 2,725 MB recover improved • Medium-size and SMEs • Country reopening
+5% YoY (Y2021: 2,600 MB) • NPAs achieved its target debtors continued to continued to support the
improve debt repayment recovery of NPLs collection

1 Key Highlights 1
Collection vs Target Q4/2022 results were high according to seasonality but slightly below the quarterly target. Q4/2022
Collection Proportion Y2022 Target vs. Actual Q4/2022 Collection YoY and QoQ
5,909 5,394 5,394
NPLs Collection: 10,115 MB 2,839
4,904 4,433
2,277
ผลเรียกเก็บ Q4/2565 ทําได้สงู ตาม seasonality
2,277
2,383แต่ยงั ตํากว่าเป้1,881
าไตรมาสเล็กน้อย 42%
Auction Sale
3,070 3,118 3,118
TDR 36% 2,521 2,552 58%
64% NPAs
NPLs
Q4/22 Target Q4/22 Q4/21 Q3/22 Q4/22 Unit: MB

NPAs Collection : 6,836 MB

Commercial Properties Collection Y2022 15,996 17,488 16,951 2022
15%
7,205 6,836
Hotels <1%
Movable Assets 1% 13,134 7,276 40%
Vacant Land
28% • +6% YoY, 97% of yearly target 4,738
• NPLs +16% YoY, 98% of yearly 10,283 10,115
Residential Properties
8,396 8,720
55% target 60%
• NPAs -6% YoY, 95% of yearly target NPAs
NPLs
2563 2564 2565 Target 2022 Unit: MB

2 Collection Overview 2
 NPLs Performance Y2022

Sustainable collection base Accelerated LED auction sale

• 2,423 newly-acquired TDR accounts • Coordinated with LED to
expedite auction process
• Approved projects to create
opportunities for debt restructuring
- Happy to Have Your Home Back Project
- BAM Revitalizes Your SME Businesses
Project
NPLs Collection Y2022
- BAM Helps Farmers Resolve Debt
Project 10,115 MB

3 NPLs & NPAs Performance 3

NPAs Management Y2022 Promoted sale through
campaigns and promotions

Expedited NPAs sale to shorten • BAM Summer Sale

holding period • Hot Price Condos
• 1,029 MB sold to retail • BAM Super Grand Sale
investors • 4-Star Home
• 1,192 units, 2,262 MB of
522 new NPAs installment sale
special price NPAs sold
accounts
NPAs Renovation
• Total renovated NPAs for sale to date
NPAs Collection 2022 8,888 items (61% sold)

6,836 MB • Y2022: renovated NPAs of 424 items were

sold - sales of 1,113 MB & 1,142 items
were renovated at 198 MB renovation cost
• 2,791 renovated NPAs available for sale
3 NPLs & NPAs Performance with appraised value totaling 7,654 MB 4
 NPLs Acquisition Volume NPAs Acquisition Volume
NPLs/NPAs Acquisition Y2022 : 15,286 MB (8,079 MB Cost) Y2022 : 385 MB (174 MB Cost)

By Quarter By Quarter
• Q1/22: 2,066 MB (1,347 MB Cost) • Q1/22: -
NPLs Supply from FIs • Q2/22: 2,468 MB (1,391 MB Cost) • Q2/22: 7 MB (4 MB Cost)
Q4/2022 • Q3/22: 895 MB (379 MB Cost) • Q3/22: 76 MB (49 MB Cost)
PB of 58,735 MB • Q4/22: 9,856 MB (4,963 MB Cost) • Q4/22: 302.27 MB (121.35 MB Cost)
• Highest volume of transactions
• FIs started to put NPLs -
19,578 MB Q4/2022
Cancellation

corporate type - up for sale 23,544

• Total NPLs sales from Fis: 2,204 FI 3
12%
principal balance of 19,578 MB, Other FIs
+278% from Q3/2565 9,856 MB 28%
11,608 676 2,204 FI 1
• Total NPLs’ acquisition: 37%
19,578 FI 2
principal balance of 9,856 MB, Q4
4,549 4,963 MB 22%
10 times increase from Q3/2022 7,631 587
4,278
2,861
Q3 5,179 5,766 3,104
1,515 Acquisition Volume
Q2 6,359 Q4/2022 Principal Balance Acquisition Cost categorized by FIs
Q1 4,075 SME Loans Housing Loans Corporate Loans
2022
4 NPLs & NPAs Supply and BAM’s Acquisition
*NPLs supply from financial institutions only consists of secured NPLs for which BAM received invitations to auctions.
5
NPLs Supply and BAM’s Acquisition (2019-2022)
Y2019 Y2020 Y2021 Y2022
83,871
Y2022
• +56% YoY NPLs sales from FIs but +17% 7,694
YoY cancellation due to large-size corporate
loans cancellation. 65,665
6,202
• Small-size portfolios put up for sale to 58,735
expedite price competition resulting in no
concentration of wins by only one AMC 23,544
42,509
• BAM won the bid totaling 43% of principal 76,177 59,463 19,968
balance sold from FIs (after cancellation) 27,360
• +100% YoY NPLs investment worth 8,079 24,425 BAM won 43%
MB (53% of principal balance) 35,191
22,542
15,286
Q1/2023 12,810 10,620
7,469
Under due diligence 8,079
3,663
• NPLs of 3,350 MB (FIs’ appraised value) Supply BAM Supply BAM Supply BAM Supply BAM
All sales from FIs Cancellation BAM’s investment BAM’s Acquisition
(Principal Balance) (Principal Balance) (Cost) (Principal Balance) (Unit: MB)

4 NPLs & NPAs Supply and BAM’s Acquisition 3,663 6

 Financial Highlights Unit: MB
Q4 Q4
%YoY
Q3 Q4
%QoQ Y2021 Y2022 %YoY
2021 2022 2022 2022
NPLs Operating Income
Interest Income- Loans purchased of receivables
- Interest Income- Part of amount
Part of amount received 476 776 63% 605 776 28% 1,516 2,398 58%
received improved YoY and QoQ.
Part of accrued 1,060 746 (30%) 910 746 (18%) 4,531 3,678 (19%)
- Debtors’ debt repayment continued Gain on loans purchased of receivable 1,022 959 (6%) 981 959 (2%) 3,397 3,633 7%
to recover. Total Interest Income- Loans purchased of receivables 2,558 2,481 (3%) 2,496 2,481 (1%) 9,444 9,709 3%
Gain on sale of properties for sale 1,071 782 (27%) 690 782 13% 2,963 2,535 (14%)
Gain on installment sale 54 52 (4%) 49 52 6% 690 247 (64%)
NPAs Other interest income 27 39 44% 32 39 22% 125 130 4%
- Gain on sale of properties for sale
Other operating income 53 119 125% 13 119 811% 84 159 89%
improved QoQ.
Total operating income 3,762 3,473 (8%) 3,280 3,473 6% 13,306 12,780 (4%)
- Gain on installment sale decreased Total operating expenses 786 861 10% 692 861 24% 2,726 2,887 6%
YoY due to a large amount received Interest expenses 629 694 10% 672 694 3% 2,559 2,637 3%
in Q2/2021. Profits from operation before income tax expenses 2,347 1,918 (18%) 1,916 1,918 0% 8,021 7,256 (10%)
ECL - Part of accrued 1,060 746 (30%) 910 746 (18%) 4,531 3,678 (19%)
Expenses and Others Additional ECL 52 114 119% 138 114 (17%) 234 371 59%
ECL decreased YoY and QoQ in Total Expected Credit Losses 1,112 860 (23%) 1,048 860 (18%) 4,765 4,049 (15%)
accordance with a decrease in Interest Profits before income tax 1,235 1,058 (14%) 868 1,058 22% 3,256 3,207 (2%)
income – part of accrued. Total Income Tax 249 191 (23%) 152 191 26% 656 482 (27%)
Net Profit 986 867 (12%) 716 867 21% 2,600 2,725 5%
Net Profit (excluding one-time ESG expense of 97 MB) 986 964 (2%) 716 964 35% 2,600 2,822 9%

5 Key Financial Updates 7

 NPL Interest Income - Part of Amount Received VS
Total Expected Credit Losses (ECL)
(Unit: MB)
• The Company records interest 1,298 1,367
1,263 1,271 1,253 1,214 1,186
income under TFRS9 on an accrual 1,277 1,319 1,112 1,083
1,238 1,058 1,048
basis since January 1, 2020. 1,213 1,178 1,150 1,144
1,059 860
1,020 1,002
• NPL interest income- part of amount 910
605 776
received shows a positive trend. 476 493 524 746

359 371
295 310
• NPL interest income- part of 202 211
132
accrued and total ECL that have
been set aside tend to continue to
decrease. Q1/2020 Q2/2020 Q3/2020 Q4/2020 Q1/2021 Q2/2021 Q3/2021 Q4/2021 Q1/2022 Q2/2022 Q3/2022 Q4/2022
Interest Income- Part of amount received Interest Income- Part of accrued Total Expected Credit Losses

5 Key Financial Updates 8

Financial Cost Management
P/N P/N P/N
2020 5% 2021 4% 2022 3%

Term
Term Loans
Loans 12%
Term 18%
Loans
Debenture 33%
Debenture
62% Debenture
78%
85%

Average Cost of Funds Debt-to-Equity Ratio (times)

D/E Covenant on Term Loans = 3.0 times
3.19%
3.08%3.09%
2.98%
2.92% 2.94%2.96%
2.89% 2.25 2.26 2.25
2.78% 2.83% 2.96% 2.16
2.76% 1.96 2.09 2.00 2.01 2.04
1.98 1.94
1.90

5 Key Financial Updates 9

Y2023 Strategies
NPLs Management NPAs Management Other Key Strategies

Create debt restructuring opportunities Increase 1,000 installment sale accounts. Financial risk and tax management
through various projects. Renovate properties for sale/lease. Acquire NPLs & NPAs using the selective
Increase 3,000 new TDR accounts. Promote NPAs sales by increasing retail strategy.
Coordinate with LED to expedite auction investors and partnering with partners, for Drive the business forward sustainably
process. example. through ESG framework.
Clean loan management Develop IT infrastructure (BAM Digital Enterprise).
Expand the scope of businesses and transactions.
6 Y2023 Strategies 10
ESG Achievements 2022

ENERGY: SOLAR CELL

• 7 branch offices producing electricity of 16,445.37 kWh EMPLOYEE • Employee Engagement Survey Governance
saved cost 65,781.48 Baht • BAM Learning Hub: BAMNET
• BAM CG Day 2022 “BAMGO & GOOD CG”
reduced GHG emission 9.8 TonCO2
• Develop sustainability for communities by using • Organize training to expand the alliance of partners to
ENVIRONMENT: Corporate Waste Management NPA assets for developing and planting flower
COMMUNITY fight against corruption.
Project 2022 gardens to promote tourism in the
communities.
• reduced plastic waste = 615.85 kg
• Opportunity to access products and services Economics
reduced GHG emission = 1,294.51 kgCO2 ( =1.29 TonCO2) for all groups of people in society, such as the
• reduced paper waste = 9,557 kg CSR In Process Happy to Have Your Home Back Project, BAM
Revitalizes Your SME Businesses Project, and PARTNERS INNOVATION
reduced GHG emission = 20,088.81 kgCO2 (=20.09 TonCO2) Hot Price Condo Project • SENA • BAM Virtual Store
• reduced landfill = 2,410 kg • Provide financial support for the purchase of • Design Connext – Baania • BAM Mobile Payment
reduced GHG emission = 5,065.82 kgCO2 (= 5.07 TonCO2) CSR After medical equipment. • Thailand Post
Process • Encourage the community to implement sufficiency
• reduced photocopy expenses 3,949,701.46 Baht
economy projects such as organic vegetable plots.
reduced GHG emission = 94,510 kgCO2 (=94.51 TonCO2)

7 ESG Performance 11
Awards & Achievements 2022
One of the sustainable stocks listed in 2022
(for the first time) “Energy Saving Building” MEA ENERGY AWARDS 2022
(Thailand Sustainability Investment: THSI)

Certification of Carbon Footprint for Organization (CFO) by

Thailand Greenhouse Gas Management Organization (TGO)
Membership of Thailand’s Private Sector Collective (public organization) for the year 2021
Action Coalition Against Corruption
Recognition received for greenhouse gas reduction project,
LESS (Low Emission Support Scheme), by TGO for the year
2022

2022 Corporate Governance Evaluation Result: 5 stars or “excellent”

(Corporate Governance Report of Thai Listed Companies: CGR)

7 ESG Performance 12
BAM ESG ECO SYSTEM ESG Projects in 2023
Standard Framework Trend 1. THSI Project
• BAM will raise the THSI assessment results, not below BBB in 2023 with a higher
score than the previous year.
2. BAM CARE Project
• Planting trees target in 2023: over 5,000 trees
Disclosure Standard • The measurement target of CO2 absorption in 2023: no less than 50,000 kg
CO2e/year (or 50 tCO2e/year)
• Open an account for the carbon credit registration with the TGO to support carbon
trading that will occur in the future.
3. 8R Project
ESG Rater 5. Recycle: Reuse through
1. Rethink: Think carefully before purchasing
reprocessing
and consuming
6. Reuse: Reuse as long as possible
2. Recover: Reuse in new forms
7. Reduce: Reduce unnecessary use
3. Repair: Repair
8. Regift: Pass your items to others
4. Refuse: Refuse to use unnecessary things
7 ESG Performance 13
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