Report on Compliance with Good Corporate Governance Principles

Good Corporate Governance Principles
The Board of Directors recognizes that good corporate governance is a foundation for the sustainable growth of the organization and one of the significant elements facilitating the organization’s competitiveness and effective adaptation under a dynamic environment, as well as an important factor that has led Krungsri to success as a leader in the Thai financial sector in line with sustainable banking. Krungsri has adhered to a culture of responsible business practices, covering social, environmental, and governance dimensions for strong and sustainable growth, while operating the business in accordance with its mission, ‘To be a leading regional financial institution with global reach, committed to responsibly meeting the needs of customers and serving society through sustainable growth’, while creating a good long-term performance.

In this regard, Krungsri attaches importance and adheres to good corporate governance criteria stipulated by regulatory bodies, i.e., the Bank of Thailand, the Securities and Exchange Commission, Thailand, the Stock Exchange of Thailand, and the Thai Institute of Directors Association, as well as in accordance with the Banking Industry Code of Conduct including the international corporate governance criteria, namely, the ASEAN Corporate Governance Scorecard. The Good Corporate Governance Principles of Krungsri have been established, as well as policies and practices in various fields that are consistent with those rules. The Board of Directors also regularly ensures that oversight mechanisms are in place to ensure compliance with requirements in any matter that has not yet been established as a policy or practice, and that there has been a review of the appropriateness of the operation, including assignments and a follow-up process for relevant departments to consider proceeding in accordance with Krungsri’s business.

In addition, Krungsri has also established the Spirit and the Letter (S&L), which serves as business ethics, as a principle with integrity, adherence to correctness within the law and corporate governance framework. The S&L has been being communicated through various channels to ensure that the directors, executives, and all employees are aware of what they must recognize, conduct and concern, including, consequences of violations. Moreover, all employees are required to sign and acknowledge their commitment to comply with the S&L via the S&L Compliance Excellence in April of every year. Furthermore, each department and subsidiaries are required to appoint a Compliance Champion and Compliance Representatives respectively to serve as a focal point of communication and the promotion of knowledge/understanding to comply with relevant laws and regulations as well as to be a part in creating organizational culture with strong governance, starting from internal business units who act as the first line of defense that need to understand an important of compliance area, and coordinate with Compliance Group who act as the second line of defense. In 2023, there were no cases of violations related to the organization's ethics and integrity.

Good Corporate Governance Principles and Guidelines
Governance Principles and Guidelines of Krungsri cover eight practices according to the Thai Corporate Governance Code for Listed Companies 2017 prescribed by the Securities and Exchange Commission, and Krungsri has made implementations in compliance with such criteria as follows: