Dhipaya Group Holdings Public Company Limited: The dividend payment policy is not less than 50% of the net profit of the separate financial statements. Dividend payments depend on factors, namely the operating results, financial position, liquidity, investment plans, reserve for loan repayments, reserve funds for future investment or working capital, conditions and restrictions of loan agreements, and other factors relating to the management as the Board of Directors considers appropriate. In addition, dividend payments must be approved by the Board of Directors and a shareholders meeting (as the case may be).

Dhipaya Insurance Public Company Limited: The dividend payment policy is not less than 50% of the net profit and dividend payments must be approved by the Board of Directors and a shareholders meeting (as the case may be).

Subsidiaries, which operate their core businesses: The dividend payment policy is not less than 60% of the net profit of the separate financial statements. The subsidiaries can pay dividends only after they have accumulated profit; the net profit from the annual operating results is adequate; and the legal reserves have been allocated as required by law and/or the legal reserves attain the amount specified in the articles of association. In addition, dividend payments must be approved by the Boards of Directors and the shareholders meetings of the subsidiaries (as the case may be).

Subsidiaries, which operate their businesses by holding shares in other companies and do not operate their core businesses (Flagship Companies): The dividend payment policy is not less than 80% of the net profit of the separate financial statements. The subsidiaries can pay dividends only after they have accumulated profit; the net profit from the annual operating results is adequate; and the legal reserves have been allocated as required by law and/or the legal reserves attain the amount specified in the articles of association. In addition, dividend payments must be approved by the Boards of Directors and the shareholders meetings of the subsidiaries (as the case may be).

1) Insurance Business: Our goal is to be the leading international insurance and investment group of businesses, with the strategy to focus on the investment in the insurance business and insurance-related businesses in Thailand and abroad, which can be divided into the following core business lines:

1.1 Non-Life Insurance Business in Thailand:

• Dhipaya Insurance Public Company Limited
• Insurverse Public Company Limited

1.2 Life Assurance Business in Thailand:

• Dhipaya Life Assurance Public Company Limited

1.3 International Insurance Business:

• Dhipaya Insurance Co., Ltd., Lao PDR

2) Insurance Support Businesses: The group is under the umbrella of TIP ISB Co., Ltd., which considers investment in insurance related businesses in order to strengthen the core business. The subsidiaries in the group include:

• DP Survey & Law Co., Ltd. engages in the loss survey business, vehicle inspection for underwriting, and provide insurance supporting services.
• Amity Insurance Broker Co., Ltd. engages in the non-life insurance agent and brokerage business.
• T I P Training Co., Ltd. engages in the training business for insurance agents and brokers and provides business consultancy.

3) Other Businesses: The group is under the umbrella of TIP Exponential Co., Ltd., which considers investment in businesses that support the insurance business, that are strategically important to the Group, and/or that provide satisfactory returns. The subsidiaries in the group include:

• Mee Tee Mee Ngern Co., Ltd., a joint venture with the Government Savings Bank and Bangchak Corporation Public Company Limited, to engage in the business of land backed loans and land consignment.
• Money DD Co., Ltd., a joint venture of Mee Tee Mee Ngern Co., Ltd., and the Government Savings Bank, to engage in the personal loan business.