Ngern Tid Lor Public : Report on the Utilization of Proceeds from the Initial Public Offering as of June 30, 2022

TIDLOR_IR_007/2022

July 26, 2022

To President

The Stock Exchange of Thailand

Subject: Report on the Utilization of Proceeds from the Initial Public Offering as of June 30, 2022

With respect to Ngern Tid Lor Public Company Limited ("the Company")'s initial public offering ("IPO") of 210,816,700 shares, at the selling price of Baht 36.5 per share, the Company received the net proceeds after the deduction of expenses relating to IPO at the amount of Baht 7,496 million. The Company would like to report the utilization of proceeds as of June 30, 2022 as follows:

			Unit: THB million
		Approximate	Accumulated Usage	Balance as of
	Objectives of the Use of Proceeds	Usage of Net	of Net Proceeds as
	June 30, 2022
		Proceeds	of June 30, 2022
1.	For expanding our lending and insurance
	brokerage business
	1.1 Improving our existing branches and	340	186	154
	expanding of our branch network
	1.2 Improving and developing our IT projects	810	405	405
	and digital transformation
2. For capital restructuring by repayment of
	existing indebtedness	5,500 - 6,000	6,000	-
3.	For working capital	518 - 545	545	-
	Total	7,168 - 7,695	7,136	559

Please be informed accordingly

Yours faithfully,

-signed by-

(Mr. Veerapat Viriyakovitya)

Head of Finance & Accounting Department

Ngern Tid Lor Public Company Limited