invitation to the 2019 annual general shareholders’ meeting · 26 february 2019, it was agreed...

Invitation to the 2019 Annual General Shareholders’ Meeting

Dhipaya Insurance Public Company Limited

No. 161/2019

22 March 2019

Re : Invitation to the 2019 Annual General Shareholders’ Meeting

To : Shareholders of Dhipaya Insurance Public Company Limited

Attachment : 1. Copy of the minutes of the 2018 Annual General Shareholders’ Meeting

2. Annual Report 2018 and Financial Statements 2018 in QR CODE

3. PersonalprofilesofthepersonsnominatedfortheappointmentofDirectorsinreplacementofthose

who complete their terms by rotation

4. QualificationofIndependentDirectorsofDhipayaInsurancePublicCo.,Ltd.

5. The Company’s Articles of Association related to the Shareholders’ Meeting

6. Documents Showing an Identity of the Shareholder or Proxy Holder Entitled to Attend the Meeting

7. ProfileofIndependentDirectoractingasproxyforshareholders

8. Map of the Meeting location

9. Proxy Form

10.RequestFormforthe2018AnnualReport,and/orGoodCorporateGovernancePolicy,and/orCodeofBusiness

Conduct and Ethics of the Company.

FollowingtheresolutionsoftheBoardofDirectors’MeetingofDhipayaInsurancePublicCompanyLimitedorTIPon 26February2019,itwasagreedthatthe2019AnnualGeneralShareholders’MeetingshallbeheldattheGrandBallroomonthe2ndFloor,SwissotelLeConcordeHotellocatedat204RachadapisekRoad,HuaiKwang,Bangkok10320on23April2019at14.00hourstoconsidermattersaccordingtotheagendatogetherwiththeBoard’sopinionsasfollows:

Agenda 1 To acknowledge the Minutes of the 2018 Annual General Shareholders’ Meeting held on 24 April 2018

Preamble: The Company held the 2018 Annual General Shareholders’ Meeting held on 24 April 2018 and prepared the minutes within 14 days from the date of the Meeting. The copy of the minutes was forwarded to theStockExchangeofThailandandtheMinistryofCommercewithintheperiodprescribedbyregulation.TheCompany also posted the minutes on its website www.dhipaya.co.th from 4 May 2018 so that shareholders can submitsuggestionsorredressesonsignificantmatterswithin30daysaftertheMeetingminuteswaspostedontheCompany’swebsite,butnosuggestionwasmadesubsequently.

The Board’s Opinion:TheBoardproposedthattheminutesofthe2018AnnualGeneralShareholders’Meetingheldon24April2018,whichwasaccuratelyrecorded,bereportedattheAnnualGeneralShareholders’Meetingforacknowledgement.TheCompanyhasalsopostedtheminutesofthe2018AnnualGeneralShareholders’Meeting together with the invitation letter to attend the Shareholders’ Meeting and other related documents on the Company’s website from 22 March 2019 onwards. The copy of the minutes of the 2018 Annual General Shareholders’ Meeting can also be found as detailed in the Attachment No.1

Agenda 2 To acknowledge the 2018 interim dividend payments Preamble:TheBoardofDirectorsofDhipayaInsurancePublicCompanyLimited,atitsmeetingon28August2018

(No.8/2018),passedaresolutionapprovingthepaymentofaninterimdividendatarateofBaht0.40pershare,totalingBaht240,000,000TheCompanypaidtheinterimdividendson26September2018.

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The Board’s Opinion:TheBoardproposedthatthe2018interimdividendpaymentsofBaht0.40persharetotalingBaht240,000,000bereportedtotheMeetingofShareholdersforacknowledgment.

Agenda 3 To certify the 2018 operating results and approve the 2018 financial statement ended on 31 December 2018

Preamble: To report the Company’s 2018 operating results as shown in the 2018 Annual Report on page 116 regardingthe2018operatingperformancesandmanagementdiscussion&analysisandthe2018financialstatementsending on 31 December 2018 as shown in the 2018 Annual Report (Financial Statements) which were approved by the Audit Committee and audited by authorized auditors. This has been sent to shareholders together with the invitation letter as per Attachment No.2

The Board’s Opinion:Afterconsideration,theBoardofDirectorssuggestedthatthe2018operatingresultsandthe2018financialstatementendingon31December2018asreviewedbytheAuditCommitteeandauditedbytheauthorizedauditorasstatedintheAuditor’sReportandthefinancialstatementswhichwereforwardedtoShareholders together with the invitation to the Annual General Shareholders’ Meeting letter as per Attachment No.2,shouldbepresentedtotheShareholders’Meetingforapproval.

Agenda 4 To approve the allotment of profit based on 2018 operating results and the dividend payments

Preamble:AstheCompanyproducedanetprofitofBaht1,531,162,018.76in2018withoutanyaccumulatedlosses. The Company was thus able to pay the dividends to shareholders in accordance with Section 115 of Public LimitedCompaniesActB.E.2535andClause48oftheCompany’sArticlesofAssociationwhichforbidstheCompanyfrompayingdividendsfromanysourcesoffundsapartfromtheprofit.IftheCompanyhadanyaccumulatednetloss,theCompanywasprohibitedfromanydividendpayments.Dividendpaymentsshallbeallottedequallypershare.

The Company adopts a policy regarding dividend payments to be at the rate of no less than 50 percent of thenetprofit.However,thedividendpaymentsmustberecommendedbytheBoardofDirectorsandapprovedby Shareholders at the Annual General Shareholders’ Meeting. (Depending on circumstances)

TheallocationforcapitalreservesasperArticle116ofthePublicLimitedCompaniesActB.E.2535andClause49oftheCompany’sArticleofAssociation,theCompanymustallocatenolessthan5percentoftheannualnetprofitasacapitalreservelessaccumulatedlosses(ifany)untiltheamountofcapitalreservestandsatnotlessthan 10 percent of the registered capital. The Company has already accumulated this 10 percent of its registered capital;andtoensuretheCompany’sstabilityanditsabilitytocaterforitscontinuedbusinessexpansion,itisproposedthattheCompanyallocateanadditional5percentoftheannualnetprofitforgeneralreserves.

The Board’s Opinion:Afterdeliberation,theBoarddeemeditappropriatetosubmitforapprovalbytheMeetingofShareholdersfortheallotmentofnetprofitin2018asfollows:

Unallocatednetprofitatthebeginningoftheyear Baht 4,646,466,664.06

Netprofitfortheyear Baht 1,531,162,018.76

Totalprofitforallotment Baht 6,177,628,682.82

Allocation

AnnualDividend Baht 840,000,000.00

GeneralReserves Baht 76,558,100.94

UnallocatedProfitAmountCarriedForward Baht 5,261,070,581.88

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Comparison of Dividend Payments

2018 2017Changed from

2017

Dividendpaymentpolicybeing%ofnetprofit 50 50 -

Rateofinterimdividendpaymentspershare(Baht) 0.40 0.75 (0.35)

Rateofannualdividendpaymentspershare(Baht) 1.00 2.00 (1.00)

Total amount of cash dividend payments per share (Baht) 1.40 2.75 (1.35)

Number of shares for dividend payments (share) 600,000,000 300,000,000 300,000,000

Totalamountofcashdividendpayments(Baht) 840,000,000 825,000,000 15,000,000

Rateofcashdividendpaymentsasto%ofnetprofit 54.86 49.82 5.04

Share dividend payments valued at one Baht for every existing share - 1.00 (1.00)

Totalamountofsharedividendpayments(Baht) - 300,000,000 (300,000,000)

Rateofdividendpaymentsasto%ofnetprofit 54.86 67.93 (13.07) (The dividend payment was made in accordance with the dividend payment policy of the Company)

TheCompanyhasalreadymadeinterimdividendpaymentsofBaht0.40pershareforthefirsthalfof2018on26September2018.Theremainingdividendpaymentsforthesecondhalfof2018ofBaht1.00pershare,ascashpayment,totalsBaht600,000,000.Thedividendpaymentsshallbecontributedfromnetprofitafterdeducting30 percent corporate tax under the Revenue Code. The remaining dividends of 2018 shall be payable on 21 May 2019 to the shareholders whose names appeared as shareholders in the Share Register of the Company as at 15 March2019,afterobtainingapprovalfromthe2019AnnualGeneralShareholders’Meeting.

Agenda 5 To approve the appointment of directors in replacement of those who complete their terms by rotation

Preamble:AccordingtoSection71ofthePublicLimitedCompaniesActB.E.2535andClause22oftheArticlesofAssociationoftheCompany,onethirdofthedirectorsshallresignateveryAnnualGeneralShareholders’Meeting.Ifthenumberofdirectorscannotbesplitintothreeequalproportions,thenumbernearesttoonethirdshallprevail.DirectorstoretireduringthefirstandsecondyearaftertheCompany’sregistrationshallbedrawnbylotastowhoshallretire.Ineverysubsequentyear,thedirectorwhospentthelongestperiodduringhis/hertenureofofficeisscheduledtoretire.Aretiringdirectorisalsoeligibleforreappointment.

Inthe2019AnnualGeneralShareholders’Meeting,fourdirectorsshallbescheduledtoretireoncompletionoftheirtenures,namely:

1. Mr.Somchainuk Engtrakul IndependentDirectorandChairmanofBoardofDirectors

2. Mrs. Nongnutch Thienpaitoon Independent Director and Director of Audit Committee

3. Mr.TaveesakFoongkiatcharoen DirectorandDirectorofNomination,Remunerationand Human Resource Management Committee

4. Mrs. Jaree Wuthisanti Director and Chairman of Investment Committee

TheCompanypostedanannouncementontheCompany’swebsiteandmadeanotificationviaSETCommunityPortalSystemofTheStockExchangeofThailandduring1October2018–31December2018,allowingshareholderstoexercisetheirrightsinnominatingqualifiedpersontobeelectedastheCompany’sdirectorintheBoardofDirectorsaswellasproposeanyagendainadvancefortheAnnualGeneralShareholders’Meeting.However,noshareholdersproposinganynominationofdirectorsoranyadditionalagendas.

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TheNomination,RemunerationandHumanResourceManagementCommitteeexcludingdirectors,whoweredue to retire at the end of their terms at the 2019 Annual General Shareholders’ Meeting has selected suitable candidatestobethemembersofCompany’sBoardofDirectorsaccordingtotheirqualification,knowledge,expertise,leadership,vision,moralandethicalvalues,abilitytofreelyexpressthemselvesaswellaspossessingvariousnecessaryspecializedknowledge.Fourcandidateswerethoroughlyconsideredandnominatedindividually,asfollows:

1. Proposedtore-electtwoindependentdirectorswhohavecompletedtheirtenuresforanotherterm,TheCompanyhasspecifiedstricterqualificationsforindependentdirectorscomparedtoqualificationsprescribedbyTheSecuritiesandExchangeCommission(SEC),asperAttachmentNo.4mainly: 1.1 Mr.Somchainuk Engtrakul 1.2 Mrs. Nongnutch Thienpaitoon

2. Proposedtore-electonedirectorwhohascompletedhistenureforanotherterm,namely: 2.1 Mr.Taveesak Foongkiatcharoen

3. Proposedtoelectadirectortofillinthevacantposition,andchosetoelectMr.SuratunKongton,whoisknowledgeableandcapablewithampleexperiencesinlargeorganizationmanagement,creditmanagementand investment to replace the vacant position.

Thesefourcandidatesaredeemedqualified,knowledgeable,prossessingexpertiseinmanaginglargeorganizations,aswellasexperienceinlinewiththeCompany’sbusinessstrategiesandoperations,leadershipattributes,aswellasvision,moralandethicalvalues.

The Board’s Opinion: After reviewing the proposal made by the Nomination Remuneration and Human Resource ManagementCommitteeonindividualbasis,theBoardofDirectors,excludingthere-nominateddirectors,proposedtore-electandelectdirectorsasfollows: 1. Tore-electtwoindependentdirectorswhohavecompletedtheirtenuresforanotherterm,namely: 1.1 Mr.Somchainuk Engtrakul 1.2 Mrs. Nongnutch Thienpaitoon 2. Tore-electonedirectorwhohascompletedhistenureforanotherterm,namely: 2.1 Mr.Taveesak Foongkiatcharoen

3. Toelectadirectortofillinthevacantposition,andchosetoelectMr.SuratunKongton,whoisknowledgeableandcapablewithampleexperiencesinlargeorganizationmanagement,creditmanagementandinvestment to replace the vacant position.

AllthefourpersonsarefullyqualifiedaccordingtothePublicLimitedCompaniesAct,B.E.2535withthefollowingdetails:(1) Mr. Somchainuk Engtrakul who has held the independent director position for over nine years was

capabletoexpresshisopinionsfreelyaccordingtotherelatedcriteria.Furthermore,asaChairmanoftheBoardofDirectorsandChairmanoftheExecutiveCommittee,heregularlyattendedtheBoardofDirectorsandExecutiveCommitteemeetingsaswellasestablishedtheframeworkforthemanagementpolicyandthe direction of the Company’s business resulting in the Company to grow sustainably and continuously. Additionally,theCompanyalsogreatlybenefitsfromhisadvicesandsuggestions,whichbeveryvaluableforhelpthedevelopmentofthecompanyinthefuture.Therefore,itisconsideredmostappropriatetore-electMr.SomchainukEngtrakulasindependentdirectorforanotherterm.

(2) Mrs. Nongnutch Thienpaitoon who has held the independent director position for less than nine years wascapableofexpressingopinionsfreelyaccordingtotherelatedcriteria.Furthermore,asmemberoftheBoardofDirectorsandDirectorofAuditCommittee,sheperformedherdutiesdiligently.Additionally,sheisknowledgeable,capable,withexpertiseandexperiencesinmanagement,financeandaccounting,creditmanagement and investment. These would greatly help with the development of the Company in the future. Therefore,itisthusconsideredappropriatetore-electMrs.NongnutchThienpaitoonasindependentdirectorfor another term.

(3) Mr. Taveesak FoongkiatcharoenhasperformedasaBoardofDirectorandDirectorofNomination,RemunerationandHumanResourceManagementCommittee,andhasbeenperforminghisdutiesdiligently.Heisknowledgeable,capableincorporatemanagementandhumanresourcemanagementinlargeorganizationsas well as a being legal expertise. These would be helpful with the development of the Company in the future.Therefore,itisconsideredappropriatetore-electMr.TaveesakFoongkiatcharoenasdirectorforanother term.

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(4) Mr. Suratun KongtonistheRepresentativeDirectorfromKrungthaiBankPublicCompanyLimitedandcurrentlyholdingSeniorExecutiveVicePresident-HeadofCorporateBankingGroup2position.Heisknowledgeable,capable,withexpertiseinlargeorganizationsmanagement,creditmanagementandinvestmentmanagement.ThesewouldgreatlyhelpinthedevelopmentoftheCompanyinthefuture.Therefore,itisconsideredappropriatetoelectMr.SuratunKongtonasdirector.

Forpersonalprofilesofthepersonsnominated,pleaserefertoAttachmentNo.3

TheCompany’sBoardofDirectorswillthusconsistof13membersoftheBoardofDirectors,fiveofwhomareIndependentDirectors,namely:

1. Mr.Somchainuk Engtrakul IndependentDirector

2. Mr. Prasit Damrongchai Independent Director

3. Mr. Sima Simananta Independent Director

4. General Somchai Dhanarajata Independent Director

5. Mrs. Nongnutch Thienpaitoon Independent Director

6. Mr.Prapas Kong-Ied Director

7. Mr. Chatchai Payuhanaveechai Director

8. Mr.Watana Kanlanan Director

9. MissWilaiwan Kanjanakanti Director

10. Mr. Luechai Chaiparinya Director

11. Mr.Taveesak Foongkiatcharoen Director

12. Mr.Suratun Kongton Director

13. Mr.Somporn Suebthawilkul Director

Agenda 6 To approve directors’ remuneration Preamble:AccordingtoSection90ofthePublicLimitedCompaniesActB.E.2535,theCompanyisprohibitedfrom

paying any sum of money or property to the directors apart from the remuneration which is in accordance with the Company’s Articles of Association. Clause 37 of the Company’s Articles of Association states that the directors areentitledtoreceiveremunerationfromtheCompanyintermsofmoney,meetingallowances,bonusesorotherform of remunerations in accordance with the Articles of Association or the resolution made in the Shareholders Meeting.TheShareholdersMeetingmaydetermineafixedsumorestablishcriteriatobeusedonacasebycasebasisoronapermanentbasisuntilfurthernotice.Moreover,thedirectorsareentitledtoreceiveperdiemandotheraccrualbenefitsaspersection1,Clause37intheCompany’sArticlesofAssociation,whichwillnotaffecttherightsofanystaff,oremployeewhoareelectedtobecomeDirectorswithregardtotheirrightstoreceiveremunerationsandotherbenefitsasstafforemployeesoftheCompany.

TheNomination,RemunerationandHumanResourceManagementCommitteehasthoroughlyreviewedtheremunerationsformembersoftheBoardofDirectorsandSub-Committeebyconsideringtheappropriateness,increasingresponsibilities,includingtheobligationaswellasincomparisonwithdirectorsofothercompaniesinthenon-lifeinsuranceindustry.Additionally,theexpansionofthebusinessandtheprofitgrowthoftheCompanyhavealsobeentakenintoconsideration.ThiswasapprovedbytheShareholders’Meetingin2018andtobeeffectiveuntiltheShareholders’Meetingdeterminesotherwise.TheNomination,RemunerationandHumanResource Management Committee had considered that the aforementioned rate is appropriate and comparable totheindustryingeneral.Therefore,itisconsideredappropriatetobepaidatthesamerateasthepreviousyearasfollows:

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1. Meeting Allowances

Meeting AllowancesMeeting Allowances

2019(monthly/person)

Meeting Allowances2018

(monthly/person)

ChangedFrom 2018 (Baht)

Board of DirectorsChairman 55,000 55,000 -Vice Chairman 33,000 33,000 -Directors 27,000 27,000 -Executive CommitteeChairman 48,000 48,000 -Directors 24,000 24,000 -Sub-Committees appointed by Board of DirectorsChairman 27,000 27,000 -Directors 19,000 19,000 -

2. Directors’ Bonuses

AseverymemberoftheBoardofDirectorshadstrictlyperformedtheirdirectorialdutiesinaccordancewiththefourprinciples(FiduciaryDuties)asfollows:

2.1 Perform duties with care and responsibilities (Duty of Care)

2.2 PerformdutieswithhonestyinordertoprotecttheinterestsoftheCompany,shareholders,stakeholdersandthestabilityofthecountry’sfinancialsystem(DutyofLoyalty)

2.3 Complywithlaws,objectives,regulations,BoardofDirectors’resolutionsandtheresolutionoftheShareholders Meeting (Duty of Obedience).

2.4 Discloseaccurate,comprehensive,transparentandtimelyinformation(DutyofDisclosure)

TheBoardofDirectorsalsodedicated,sacrificed,supportedandpromotedtheCompany’scontinualgrowth.In2018,theCompanyhasproducedwrittenpremiumandnetprofitsasfollows:

Unit (Million Baht) Year 2018 Year 2017 Growth Rate (%)

Premium Written 20,521.83 20,008.37 2.57

NetProfit 1,531.16 1,656.07 -7.54

TheNomination,RemunerationandHumanResourceManagementCommitteehasconsidereddirectors’bonusesshouldbemaintainedatBaht20,250,000whichisequaltothoseoftheprevious4years.TheChairmanoftheBoardofDirectorsshallallocatesuchbonusasdeemedappropriate.

Thefunction,androlesandresponsibilitiesoftheBoardofDirectorsandSub-Committeesareshowninthe2018AnnualReportasfollows:

2.1 The Executive Committee consists of 1 Chairman and 3 Directors as per page 40 Section on Management in the 2018 Annual Report

2.2 The Audit Committee consists of 1 Chairman and 2 Directors as per page 42 Section on Management in the 2018 Annual Report

2.3 TheNomination,RemunerationandHumanResourceManagementCommitteeconsistof1Chairmanand 3 Directors as per page 48 Section on Management in the 2018 Annual Report

2.4 The Corporate Governance Committee consists of 1 Chairman and 3 Directors as per page 54 Section on Management in the 2018 Annual Report

2.5 TheRiskManagementCommitteeconsistsof1Chairmanand6Directorsasperpage58SectiononManagement in the 2018 Annual Report

2.6 The Investment Committee consists of 1 Chairman and 5 directors as per page 62 Section on Management in the 2018 Annual Report

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3. Other remunerations

- None-

The Board’s Opinion:AfterreviewingtheproposalmadebytheNomination,RemunerationandHumanResourceManagementCommittee,theBoardofDirectorsdeemedappropriatetoproposethedirectors’remunerationstothe Shareholders Meeting for approval.

Agenda 7 To appoint the auditors and determine the auditors’ fees for 2019 Preamble:TocomplywithClause120ofthePublicLimitedCompaniesActB.E.2535,whichstatesthattheAnnual

GeneralShareholdersMeeting,mustappointtheauditorsanddeterminetheauditors’remunerationannually.Theprevious auditor is eligible to be reappointed. Clause 121 also states that the auditor must not be in the position ofDirectors,staff,employeeoroccupypositionsintheCompany.Section5:ShareholderMeeting,Clause43.5ofthe Company’s Articles of Association states that a required agenda of the Annual General Shareholders’ Meeting is the appointment of auditors and determination of their remuneration.

The Board’s Opinion:AfterreviewingtheproposalmadebytheAuditCommittee,theBoardofDirectorsapprovedthatthefollowingbesubmittedforapprovalattheAnnualGeneralShareholders’Meeting:

1. ToappointauditorsfromPricewaterhouseCoopersABASLtd.whopossessesexperienceandexpertisewithauditors who have been approved by the Securities and Exchange Commission to be the Company’s auditors for2019,namely,

Name of Responsible AuditorsLicense No. of

Authorized AuditorsNo. of Years in Audit

Service for the Company

Mr.PaiboonTunkoon 4298 1 year and/or

Mrs.AnothaiLeekitwattana 3442 Nil and/or

MissSakunaYamsakul 4906 Nil Anyoftheappointedauditorsshallbeauthorizedtoauditandsigntheauditor’sreport,astheCompanyhasneithersubsidiarynorassociatedcompaniesandPricewaterhouseCoopersABASLtd.anditsappointedauditorshavenorelationshipandvestedinterestsintheCompany,itsexecutives,majorshareholdersorany related persons which might affect their independent conduct of operation.

The Company reviewed and selected auditors for 2019 and the Audit Committee deemed PricewaterhouseCoopersABASLtd.fullyqualifiedandsuitable.

2. Toapprovetheauditingfeesfor2019ofBaht3,959,000,detailedasfollows:Unit:Baht

ItemsAuditing Fees Changed from 2018

2019 2018 Amount %

Annual Financial Statement Auditing Fee 2,187,000 2,123,625 63,375 2.98%

3 Quarters Financial Statement Auditing Fee 1,290,000 1,252,125 37,875 3.02%

Fee for annual auditing and certifying the annual capital fund 241,000 233,730 7,270 3.11%

Fee for auditing and certifying the capital fund of 2nd quarter 241,000 233,730 7,270 3.11%

Total 3,959,000 3,843,210 115,790 3.01%

Theauditor’sfeefor2019wasincreasedbyBaht115,790or3.01percent.Thereasonsforrequestingtheincreaseareasfollows:1. ThepreparationoftheRBCPhase2capitalfundreport,whichisexpectedtobeeffectiveinthemid-

2019 2. There will be more information system examination because the Company focuses more on products

transactions through online channels. 3. TherewillbetheIncreasingcostsofPricewaterhouseCoopersABAS(StaffCost)bothlocallyand

PricewaterhouseCoopersABASShanghai(Actuary)

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Fromtheabovestatedreasons,theproposedincreaseinfeesisdeemedappropriateandshouldbepresentedto the Annual General Shareholders’ Meeting for approval.

Agenda 8 Other matters (if any)

The Company set the Record Date for shareholders who will be entitled to attend the 2019 Annual General Shareholders’ Meeting and receive dividends payment on 15 March 2019. The Company distributed the Invitation Letter for the 2019 Annual General Shareholders’ Meeting together with the supplementary documents for the MeetingandproxyformontheCompany’swebsite,www.dhipaya.co.th,intheInvestorRelationsSection.AnyshareholderswhoneedtheclarificationrelatedtotheMeeting’sagendascansubmitinquiriesinadvancetothee-mailaddress:[email protected](02)2392049Ext.2784.

WewouldthusliketoinviteallshareholderstoattendtheMeetingattheaforementionedtimeandplacewith registration starting from 12.00 p.m. Any shareholders who are unable to attend the Meeting can appoint a proxytoattendtheMeetingandvoteontheirbehalf.Forconvenience,anyshareholderswhowishtograntproxytoanypersontoattendtheMeetingandvoteinthisMeeting,pleasefillintheinformationandsigntheproxyformAorBasperAttachmentNo.9ordownloadproxyformAorBorC(FormCisapplicabletoforeigninvestorswho appoint custodian in Thailand to be responsible for their shares) from www.dhipaya.co.th. Only one form is applicableasspecified.

IfyouwishtograntproxytoanIndependentDirector,wewouldliketoinformyouthattheIndependentDirectorwhocanactasyourproxyisGeneralSomchaiDhanarajata,IndependentDirectorandDirectorofAuditCommittee,aged79years,residingat71/24SetSiriRoad,SamsenNaiSub-District,PhayaThaiDistrict,Bangkok,whohasnoconflictsofinterestsinthisMeeting’sagenda,detailsasperAttachmentNo.7.

Theproxyform,asattachedhereto,mustbesubmittedpriortotheattendanceoftheproxyholderfortheMeeting.

Yoursfaithfully,

DhipayaInsurancePublicCo.,Ltd.

(Somporn Suebthawilkul, Ph.D.)

Managing Director

Remarks: Forshareholderswhoattendthe2019AnnualGeneralShareholders’Meeting,theCompanywillprovide2018Annual Report and 2018 Financial Statements for their consideration in each agenda.

Company Secretary Section Telephone no. 66 (02) 239 2655 Fax no. 66 (02) 239 2049 Ext. 2759

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