3

Financial Highlights

Unit: MB 3Q15 3Q16 YoY% 2Q16 QoQ

New Loan Amount 5,578 10,495 88.15% 8,750 19.94%

Loan Receivables 10,974 20,513 86.92% 17,246 18.94%

Total Revenue 675 1,201 77.92% 1,003 19.74%

Net Profit 220 401 82.27% 300 33.66%

2011 2012 2013 2014 2015 9M16

New Loan Amount 7,167 8,255 9,840 12,471 20,232 26,197

Loan Receivables 3,945 4,776 5,835 7,448 12,630 20,513

Total Revenue 663 1,250 1,548 1,856 2,559 3,070

Net Profit 107 308 351 544 825 981

1
Share Capital Information

Price (Oct 8, 2016) : 19.40 THB Major Shareholders (May 3, 2016)

Hi/Low : 22.10 / 14.00
Mr. Chuchat Petaumpai 37.38%
No. of shares : 2,120 M
Mrs. Daonapa Petampai 33.96%
Market Capitalization : 41,128 MB
Others 8.59%
P/E (X) : 39.53
P/BV (X) : 7.08 Public 20.07%

MSCI Global Small Cap Index

Board of Directors

1. Admiral Apichart Pengsritong Chairman

2. Mr. Chuchat Petaumpai Director

3. Mrs. Daonapa Petampai Director Audit Committee

4. Mr. Yodhin Anavil Director 1. Mrs. Kongkeaw Piamduaytham Chairman of the Audit Committee

5. Mrs. Kongkeaw Piamduaytham Director 2. Mr. Kampol Tatiyakavee Audit Committee

6. Mr. Kampol Tatiyakavee Director 3. Mr. Chainoi Puankosoom Audit Committee

7. Mr. Chainoi Puankosoom Director Mr. Chaloem Inhoum as Audit Committee Secretary

Ms. Monthon Onphan as Company Secretary

2
Contents

Company Profile

Business Operation

Industry Overview

Financial Highlights

3
Company History

Established in May 22, 1992 to provide motorcycle hire purchase business under the
1992 name D.S. Leasing Co.,Ltd. by Mr. Chuchat Petaumpai and Mrs. Daonapa Petampai

Started providing Motorcycle Title Loans

1998 Terminated Motorcycle Hire Purchase business

Started providing Tractor Title Loans

2001 Changed name to Muangthai Leasing Co.,Ltd.

2003 Started providing Car Title Loans

Started operating Personal Loans under supervision of the Bank of Thailand

2006 Invested in 99.99% of Muangthai Leasing Insurance Broker Co., Ltd.

Listed in Stock Exchange of Thailand

2014 Expanded to 506 branches

Started Nano Finance

2015 Started Land Title Loans
Expanded to 940 branches

4
Type of Services

1. Secured Loan 2. Unsecured Loan

Use vehicle title and land title as collateral Personal Loan
The Company offers loan service to low income individuals The Company offers personal loan only to existing
that have no access to financial services from commercial customers who have good payment record
bank but have ownership in vehicle and land Credit Line is limit at Baht 10,000
Ownerships of vehicle and land are not transferred to the Under supervision of Bank Of Thailand
Company but the borrowers have to surrender their titles to
the Company and sign in the transfer document (Blank Nano finance (July 2015)
Transfer) in exchange for loan granted Credit Line is limit at Baht 20,000
The borrowers can possess their assets as usual Under supervision of Bank Of Thailand

Land Title Loan

Motorcycle Title Loan Car Title Loan Tractor Title Loan
(June 2015)

Occupation Individuals Individuals Farmers Farmers

Vehicle Type

Credit Line Baht 3,000-30,000 Baht 30,000 400,000 Baht 10,000 200,000 Baht 5,000 200,000

Age of vehicle Not exceed 12 years Not exceed 25 years Depend on the condition of engine -
Installments 10-24 months 10-24 months : credit line < Baht 30,000 4 months
12-50 months : credit line Baht 30,000 12 50 momths

5
Credit Approval Process

Verify Customer, Loan

Guarantor and Determine Document Loan
Credit Line Preparation Approval Approval
Collateral
Notification

Qualification of In case of motorcycle

Type of Vehicle Credit Approval Checklist
Customer title loan value below
Baht 30,000, credit
Qualification of Brand and Model Loan Agreement analyst can approve
Guarantor
such loan in accordance
with credit approval
Collateral Age of Vehicle Ownership Transfer Memo table.

Vehicle Condition Ownership Transfer Form

In case of Car or
Agricultural vehicle title
loan or motorcycle title
Power of Attorney
loan that value Baht
30,000 and more,
the approval must be
granted by branch
manager or regional
manager.

6
Repossession and Auction Process

MTLS has 4 own auction centers for selling

Customer pasts due more than 2 months the collateral vehicle repossessed from
the customers.

Phitsanulok Auction Center

The Company could repossess the collateral
vehicle from the customer (must be granted an
approval from Branch Manager)
Khonkaen Auction Center

Head of debt collection unit gathers the Ayudhya Auction Center

collateral vehicle from branches and deliver
them to the auction centers.
Chonburi Auction Center

The auction centers are responsible for selling

of the collateral vehicles.

7
Distribution Channel and Target

Thailands Geography Target 2,200

77 cities/877 towns/7,255 villages Growing Potential

3Q16 total 1,515 branches Target 1,600

6 million people All branches linked online, real time
237 branches Well positioned in urban and rural markets
Leading player across retail loan categories

22 million people
443 branches
940

28 million people
740 branches

506

415

363
343
10 million people
95 branches

2011 2012 2013 2014 2015 2016 2017

Total 1,515 Branches (F) (F)

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Branches

Full Branch and Sub Branch Service Center

Branch Sub Branch Service Center

CAPEX (Baht) 800,000 400,000 250,000

PAYBACK PERIOD 1 YR
9
Vehicle Title Loan Industry & New Loan Lending
Accumulated Number of Vehicle Registration Proportion of Vehicle Registration as of September, 30 2016

Million
1.63 1.74 1.81
40 1.50 Other Vehicles,
4.96%
30 13.02 13.79 14.42
11.83
20 Motocycle,
20.31
55.03% Car, 40.01%
19.15 19.95 20.50
10

0
2012 2013 2014 2015

Motorcycle Car Others

Source : Department of Land transport

New Loan Amount Number of New Contracts

Million Baht
Contracts 1,194,005
26,197 1,298,444
28,000 1,500,000

24,000
20,232 +88.15% YoY
10,495 +19.94% QoQ 1,200,000 848,859 +56.31% YoY
20,000 337,284 501,384 +16.04% QoQ
12,471 6,218 717,790
900,000
16,000 9,840 659,645
320,760
8,255 5,578 432,079
12,000 8,750 600,000
8,000
4,706 289,947
300,000
4,000 6,952 246,014 364,981
3,730
0 0
2012 2013 2014 2015 2016 2012 2013 2014 2015 2016
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
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 Loan Receivables

Loan Receivables classified by Types of Loan Proportion of Loan Receivables as of September, 30 2016
Million Baht Land Personal Loan
Nano
348 8.91% 3.86%
21,000 1.70%
1,828
19,000 261 792
17,000 1,098 1,038
183 579
861
Tractor
15,000 589
111 454 5.06%
252 6,747
13,000 340 686
538
11,000 4,607 5,647
3,862
9,000
10
34 Motorcycle
5 200
7,000 134 9,760 47.58%
72 1,310 7,939 8,800
609 7,526
5,000 338 5,083 5,903
4,361
3,000 Car
2012 2013 2014 2015 1Q16 2Q16 3Q16 32.89%

Motorcycle Car Agricultural Vehicle Personal Loan Land Nano

Loan Receivables and No. of Branches Average New Loan and Loan Receivables per Branch
Million Baht Branches Million Baht
24,000 1,515 1,600 30 28.31 27.71
26.33 26.46
1,236 24.65 24.79 24.96
1,114 22.74 23.71
18,000 1,200 21.52 21.94
940 940 20,513
900 20
715 17,246
12,000 680 800 363 415 506 940 680 715 900 940 1,114 1,236 1,515
506 14,458
363 415 12,630
6,000 400
10
12,630 10,974
7,448 9,346 13.16 14.06 14.72 13.43 13.44 12.98 13.95 13.54
0 5,835 - 11.87 13.43 12.19
8,068
4,776
0
2012 2013 2014 2015 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16

Loan receivable Number of branch

Loan receivable per branch New loan per branch
(Figure is annualized) 11
 Loan Receivables Quality
Loan Receivables Classified by Aging
1. Allowance for Doubtful Account by Aging
1.02% 1.99% 1.37% 0.92% 0.90% 0.94% 0.95%
Aging Rate of allowance for 100%
9.31% 9.06% 7.18% 7.03% 7.30% 7.23%
doubtful accounts 10.96%
90%
Current and past due for not more than 1%
30 days 80%
Past due for 31 - 90 days 2%
70% 89.67% 87.05% 89.57% 91.89% 92.07% 91.76% 91.82%
Past due for more than 90 days 100%
Receivables transferred to litigation 100% 60%

50%
2012 2013 2014 2015 1Q16 2Q16 3Q16
2. Additional provision for potential uncollectible receivables
(General Reserve) : calculated by PD x LGD Overdue less than 30 days Overdue 31-90 days Overdue more than 90 days

Allowance for Doubtful Account Asset Quality Ratio

Million Baht
358.71% 258.14% 290.01% 258.56% 266.66% 268.90% 248.96%
700 5.52%
6%
559.0
600
489.1 4.36%
500
388.1 214.7 4% 3.56%
400 322.1 325.0 335.6 198.8 2.84%
2.65% 2.68% 2.55%
148.2 2.14%
300 142.6 119.6
142.6
170.1 344.3 2% 1.50%
200 290.3 0.99% 1.03% 1.01% 1.05% 1.09%
216.0 239.9 225.0
70.0 179.5 182.4 146.0 182.0
100 125.0 112.0 130.0
100.1
47.0 0%
0
2012 2013 2014 2015 1Q16 2Q16 3Q16
2012 2013 2014 2015 1Q16 2Q16 3Q16
Allowance for doubtful account by Aging Allowance for doubtful debts to total loans
Non performing loans
Additional provision for uncollectible receivables include stop accrued Non performing loan to total loans include stop accrued
Allowance for doubtful accounts to non performing loans ratio
12
Operating Results
Total Revenues Revenues Structure

0.9% 0.6% 0.5% 0.7% 1.5% 0.5% 0.3% 0.4% 0.4% 0.4% 0.3%
Million Baht +77.92% YoY 100%
+19.74% QoQ 12.4% 13.9% 13.3%12.1%11.0%10.7% 10.1% 9.6%
14.3% 15.4%15.1%
80%
4,000 3,069
2,559 60%
3,000 1,856
1,548 1,201
1,250 768 40% 84.8%
2,000 84.0%84.5%87.0% 84.6%86.2% 87.6%88.6% 88.9% 89.5% 90.1%
675 1,003
20%
1,000 583
533 865
0 0%
2012 2013 2014 2015 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16
2012 2013 2014 2015 2016

Q1 Q2 Q3 Q4 Interest Income & Management fee Fee and Service Income Other income

Interest Income and Management Fee

Million Baht
2,749
3,000
Total Revenues are new high due to branch
2,225
2,500
1,567
+83.25% YoY expansions
1,083
1,301 +20.73% QoQ
2,000 680
Interest Income and Management Fee takes a
1,059
1,500 591 significant portion in Revenue Structure
897
1,000
503 Focus on Interest Income instead of Fee and
500 769 Service Income
451
0
2012 2013 2014 2015 2016

Q1 Q2 Q3 Q4
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Operating Results-Profitable Growth

Operating Expenses Net Profit

Million Baht Million Baht 825 +82.27% YoY

56.35%
56.13% +33.66% QoQ
2,000 55.32% 56.68% 53.41% 60%
54.68% 53.36% 1,200 981
49.28% 48.58%
52.02%
1,500 49.05%
1,275 40% 544
401
800 241
351
1,000 896
738 308
220
573 541 20% 300
459 400
500
269 299 329 378 392 183
181 280
0 0%
2012 2013 2014 2015 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 0
2012 2013 2014 2015 2016
Operational Expense % Cost to Income
Cost to income = (S&A + Loss on disposal of asset foreclosed) / (Total revenue FC) Q1 Q2 Q3 Q4

Interest Income Ratio, Interest Expense Ratio

Net Profit Margin and Return on Equity
and Interest Spread
30% 26.02%
24.90% 25.21% 24.00% 40%
24.25% 34.04% 32.61% 32.34%
22.92% 23.90% 23.71% 23.35% 23.28% 23.56% 32.24% 33.37%
25% 31.47% 31.26%
19.57% 19.49% 19.23% 29.32% 29.94%
18.26% 19.48% 20.03% 20.03% 20.90%
20% 30% 26.69%
20.52% 24.67%
18.74% 22.70%
18.24%
15%
20%
10% 21.75% 20.46%
5.34% 6.23%5.98% 5.99%5.66% 19.96% 19.34%
4.18% 4.52% 17.35%
3.68% 3.32%2.76%2.66% 16.60%
5% 15.45%15.34%
10% 13.97% 14.00%
0%
2012 2013 2014 2015 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16

Interest Income Ratio

*
Interest Expense Ratio Interest Spread
0%
2012 2013 2014 2015 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16
* Interest is calculated by average quarter interest income ratio.
Net Profit Margin Return on Equity
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Financial Position Low DE , Potential to Grow
Bank Loan Total Liabilities

Million Baht Million Baht 14,966

16,000
14,607
12,196
15,000 11,871
12,000
9,320
12,000 8,905 7,431
56.61%
7,135 8,000
9,000 54.76% 4,079
3,919 3,671
51.08% 1.23% 3,204
6,000 2,931 3,489 45.13% 1.86% 4,000
5.90% 4.57%
5.9% 7.92%
3,000 18.18%
1.86% 78.37% 46.95% 44.35% 43.38%
78.4% 42.16% 0
50.75%
15.73% 15.7% 2012 2013 2014 2015 1Q16 2Q16 3Q16
0
2012 2013 2014 2015 1Q16 2Q16 3Q16
Long-term Loans Current of Long-term Loans Short-term Loans

Shareholders Equity Debt to Equity Ratio

Million Baht Times

7,000 5,932 6,209 3.00

5,652 5,808
2.41
6,000 5,106 2.50
2.11 2.10
2.02
5,000 2.00
1.57
4,000 1.50 1.31

3,000 1.00 0.72

1,937
1,585
2,000
0.50

1,000
0.00
2012 2013 2014 2015 1Q16 2Q16 3Q16
2012 2013 2014 2015 1Q16 2Q16 3Q16
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Summary of Significant Figure 3Q16 (Position)

Fundamental
No. MTLS 3Q16 3Q15 %
Loan receivables 24,329.78 12,746.45 90.87
1. Net loan receivables 20,513.31 10,974.22 86.92
2. Allowance for doubtful account 559.04 311.09 79.70

3. NPL 195.03 110.59 76.35

4. Allowance/NPL (2/3) 286.64% 281.30%

5. NPL/ Net AR (3/1) 0.95% 1.01%

6. Write off 6.92 4.22 63.98

7. NPL+Write off (3+6) 201.95 114.81 75.90

8. NPL+Write off / Net AR (7/1) 0.98% 1.05%

9. Total asset 21,175.21 11,695.25 81.06

10. Total liabilities 14,965.83 6,279.89 138.31

11. Total equity 6,209.37 5,415.37 14.66

12. D/E ratio (10/11) 2.41 1.16

16
Summary of Significant Figure 3Q16 (Position) continued

Growth
No. MTLS 3Q16 3Q15 %
13. Net loan receivables 20,513.31 10,974.22 86.92
14. Total revenue 1,201.42 675.10 77.96

15. Accumulated new loan amount 10,495.92 5,577.56 88.18

16. Interest and fee income 1,082.43 591.20 83.09

17. Fee and service income 114.88 81.47 41.01

18. Net profit 400.93 220.05 82.20

19. % Net profit / Total revenue (18/14) 33.37 32.60

Efficiency
No. MTLS 3Q16 3Q15 %
20. Doubtful account 33.64 8.29 305.79

21. Doubtful account & write off (6+20) 40.56 12.51 224.22

22. Total employees 3,893 2,419 60.93

23. Total branches 1,515 900 68.33
24. New loan per employee (annualized) (15/22)*4 10.78 9.22 16.92
25. New loan per branch (annualized) (15/23)*4 27.71 24.79 11.78

26. Net loan receivables per employee (1/22) 5.27 4.54 16.08

27. Net loan receivables per branch (1/23) 13.54 12.19 11.07
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Corporate Social Responsibility

Social : Private donation of 40 MB

in 2Q15 to a hospital in Sukhothai to
build an Emergency Department and a
Patient Building.

Education : Construction of 2
rural schools in 3Q16 with a
total cost of 2.40 MB. The
project is called My new home, so
far 7 schools were built since 2011.
Construction of Chiang Mai
University Economic Department
with a total cost of 65 MB in 3Q16.

Religion : A host for 2 temple

constructions in 4Q15 with a
total collected donation of 3.2
MB. The temple were in Lampang
and Saraburi. This annual event has
been started since 1996.
MTLS has Corporate Social Responsibilities (CSR) Committed to a policy which focuses on
community developments based on the traditions and culture of the surrounding communities that
MTLS branches are located. MTLS has been regularly participating in order to support both private and
public sectors.
CG SCORE
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