MTC: Digital Roadshow Q3/2025 MUANGTHAI CAPITAL PUBLIC COMPANY LIMITED

Third Quarter Financial Results 2025 Overview

Introduction

• The meeting is led by Sam from the investor relations team, discussing the third quarter financial results for 2025.

• A Q&A session will follow after the presentation of slides.

Financial Highlights

• Loan receivable portfolio grew by 13.26% year-on-year, reaching 180,453 million B; a 3.23% increase from Q1.

• Total revenue increased by 10.1% year-on-year, totaling 7,894 million B, with a 4.61% growth quarter-on-quarter.

• Net profit rose to 1,724 million B, marking a 15.63% increase year-on-year and a 4.68% rise compared to last quarter.

Nine-Month Performance

• For the first nine months, loan receivables increased by 13.26% year-on-year; total revenue reached 22,682 million B, up by 9.93%.

• Net profit for this period was reported at 4,920 million B, reflecting a growth of 14.27% year-on-year.

Shareholder Information

• Mr. Gita Pet Aai has joined as a new director and CEO of Mai Capital.

• Majority ownership remains with Petai's family at 67.64%, followed by Thai institutions (19.16%) and individuals (6.94%).

Company Progress and Achievements

Bond Issuance and Partnerships

• The company issued $350 million in social bonds under its $3 billion global medium-term notes program.

• Partnerships include Japan International Cooperation Agency (JICA), DEG (Germany), and IFC for financial support totaling $50 million USD.

Ratings and Recognitions

• Received ratings: double-B from Fitch with stable trends; S&P Global rated it double-B minus; domestically rated A-minus.

• Included in major indices like MSCI index and FTSE Focus Index; recognized for excellent corporate governance.

Corporate Social Responsibility Initiatives

Stakeholder Contributions

• Emphasis on contributions to communities, customers, employees, environment, governance, and social aspects.

Environmental Efforts

• Focus on increasing branch efficiency while reducing energy usage and waste.

Governance Practices

• Commitment to transparency in information disclosure.

Product Offerings and Credit Approval Process

Product Categories

• Main products include secured loans (vehicle title loans for two-wheelers/four-wheelers & land title loans).

• Unsecured loans consist of nano finance options such as motorcycle hire purchase personal loans & multi-pay later services.

Credit Approval Steps

• Five-step credit approval process completed within 20 minutes:

• Verify customer details including guarantor & collateral.

• Determine credit line based on borrowing purpose & vehicle type.

• Prepare necessary documents including checklist & loan agreement.

• Make loan decision based on value thresholds set for analysts or managers depending on amount requested.

• Finalize loan approval with options for cash or money transfer disbursement.

Branch Expansion Plans

Current Status

• As of Q3 2025, there are 869 branches operational; plans to expand by an additional 600 branches this year.

Future Projections

• Next year's expansion expected to decrease to about 300–400 new branches focusing on full branches in larger cities along with subbranches & service centers.

Overview of Company Performance and Initiatives

Auction Process and User Growth

• The company operates eight auction houses across the country, aimed at reducing transportation costs for vehicle reprocessing.

• Launched in 2018, the MTC application has over 600,000 users with a review score of 4.69 out of 5, indicating strong user satisfaction.

Financial Metrics and Projections

• Loan receivables per branch are approximately 20.96 million B, with expectations to increase to around 21 million in the next quarter; NPL (Non-Performing Loans) decreased to 2.6%, aligning with guidance not to exceed 2.7%.

• Coverage ratio improved due to increased liquidity from bond issuance; efforts are underway to upgrade credit ratings from A minus.

Revenue Structure and Cost Management

• Total revenue and interest income have significantly increased this year, primarily driven by organic growth focused on interest income.

• SG&A expenses decreased by about 2% from the previous quarter; there is an aim for a cost-to-income ratio not exceeding 47% by year-end.

Profitability Insights

• Net profit has risen this quarter; yield interest income increased due to more operational days compared to earlier quarters.

• Interest expense ratios rose following dollar bond issuance in July; interest spread maintained at approximately 13.44%.

Debt Management and Corporate Social Responsibility

• Interest-bearing debt rose from 55% to 66%, focusing on long-term loans; total liabilities reached approximately 149 billion B while total equity stands at about 41 billion B.

• CSR initiatives include providing modified motorcycles for rural areas lacking car access and constructing hospitals under the "No One Left Behind" project in Suko Thai province.