PTT Public : Appointment of Members of Specific Committees

(Translation)

No. 80000001/718

July 3, 2020

Subject : Appointment of Members of Specific Committees

To : President,

The Stock Exchange of Thailand

CC : Secretary-General of the Office of the Securities and Exchange Commission

Attachments: Form to Report on Names of Members and Scope of Work of the Audit Committee (F24-1)

The Board of PTT Public Company Limited (PTT) has resolved in the Meeting No. 7/2020 on July 3, 2020 to approve the appointment of members of specific committees as follows:

The Audit Committee:

•  Professor Dr. Kittipong Kittayarak Independent Director as the Chairman (newly appointed)

•  Mr. Krishna Boonyachai Independent Director as a member (newly appointed)

•  Mr.Danucha Pichayanan Independent Director as a member (unchanged)

The Nominating Committee: (Unchanged)

•  Mr. Don Wasantapruek Independent Director as the Chairman (unchanged)

•  Professor Dr.Supot Teachavorasinskun Independent Director as a member (unchanged)

•  Professor Dr.Surapon Nitikraipot Independent Director as a member (unchanged)

The Remuneration Committee:

	GEN. Teerawat Boonyawat	Independent Director as the Chairman (unchanged)
	Mr.Chumpol Rimsakorn	Director as a member (unchanged)
	POL.GEN.Rungroj Sangkram	Independent Director as a member (newly appointed)

The Corporate Governance Committee:

	Mrs.Nuntawan Sakuntanaga	Independent Director as the Chairman (newly appointed)
	Professor Dr.Surapon Nitikraipot	Independent Director as a member (unchanged)
	Dr.Thon Thamrongnawasawat	Independent Director as a member (unchanged)

-2-

The Enterprise Risk Management Committee:

•  Mr.Supattanapong Punmeechaow

•  Dr.Thon Thamrongnawasawat

•  Mr.Chumpol Rimsakorn

•  Mrs.Premrutai VinaiphatDirector as the Chairman (unchanged)

Independent Director as a member (unchanged)

Director as a member (unchanged)

Director as a member (newly appointed)

The appointment shall be effective from July 3, 2020 onwards

Yours sincerely,

Auttapol Rerkpiboon President & CEOOffice of President Tel. [phone] Fax. [phone]

F 24-1

Form to Report on Names of Members and Scope of Work of the Audit Committee

The Board of Directors meeting of PTT Public Company Limited in the Meeting No. 7/2020 held on, July 3, 2020 resolved the meeting's resolutions in the following manners:

•  Appointment of the audit committee :

Chairman of the audit committee As follows:

Member of the audit committee

• (1) Professor Dr. Kittipong Kittayarak as the chairman (newly appointed)

• (2) Mr. Krishna Boonyachai as a member (newly appointed)

, the appointment of which shall take an effect as of … July 3, 2020…

Determination/Change in the scope of duties and responsibilities of the audit committee with the following details: …………………………………………………………………………………………………………………………....……………………… ………………………………………………………………………………………………………………………………....………………………………………… ……………………………………………………………………………………………………………………………………………………………………………… ………………………………………………....………………………………………………………………………………………………………………………… , the determination/change of which shall take an effect as of ………………

The audit committee is consisted of:

• 1. Chairman of the audit committee Professor Dr. Kittipong Kittayarak remaining term in office 3 year(s)

• 2. Member of the audit committee Mr. Krishna Boonyachai remaining term in office 3 year(s)

• 3. Member of the audit committee Mr. Danucha Pichayanan remaining term in office 0.75 year(s) Secretary of the audit committee Mr. Chadil Chavanalikikorn

Enclosed hereto is 2 copies of the certificate and biography of the audit committee. The audit committee number(s) 2, 3 has/have adequate expertise and experience to review creditability of the financial reports.

The audit committee of the company has the scope of duties and responsibilities to the Board of Director on the following matters:

• 1. Review and reassess the adequacy of the Audit Committee Charter annually in accordance with PTT strategic objectives. Final approval of the charter resides with PTT Board of Directors.

• 2. Review the effectiveness and efficiency of governance, risk management and control processes.

• 3. Review and ensure that PTT financial statement is appropriate and in accordance with the accounting standards.

• 4. Review and ensure that PTT business processes are in accordance with the Securities Law, the Stock Exchange's regulations, policy, rules, ordinances, the Articles, the Cabinet Resolutions and the relevant laws.

• 5. Review and ensure that PTT internal audit system is appropriate including the sufficiency of internal audit budget, resource, and the organizational independence of the internal audit activity.

• 6. Consider any connected or Conflict of Interest transaction or fraud occurrence that may affect PTT business in accordance with the Stock Exchange's regulations and rules.

• 7. Recommend to PTT Board of Directors, the Chief Audit Executive appointment, removal and performance.

• 8. Recommend to PTT Board of Directors, the external auditor nomination, appointment or termination including its fee.

• 9. Coordinate with the external auditor and may purpose to review or assess any significant accounting and reporting issues.

• 10. Report to PTT Board of Directors, the Audit Committee performance at least one time quarterly. For the fourth quarter, the Audit Committee Annual Report must be prepared and submitted to Responsible Ministry of Government agencies and the Ministry of Finance.

• 11. Report to PTT Board of Directors, the Audit Committee performance on internal audit activity assessment at least one time annually.

• 12. Disclose the Audit Committee Annual Report and the external auditor annual fee in the PTT annual report.

• 13. Either the Chairman or a member of the Audit Committee must attend the PTT annual general shareholder meeting.

• 14. If competent advice or assistance is needed to perform internal audit activity or other the Audit Committee tasks, the Audit Committee can purpose PTT Board of Directors to appoint any independent consultant or expert. The costs and expenses of such services or invitations shall be on PTT's account.

• 15. Inform the CEO, any breach of the Securities Law, the Stock Exchange' s regulations, policy, rules, ordinances, the Articles, the Cabinet Resolutions and the relevant laws to resolve the issue.

• 16. Meet at least one time quarterly and must hold private meeting with the external auditor at least one time annually.

• 17. Officially meet with the managements at least one time annually.

• 18. Perform any designated tasks by the laws or PTT Board of Directors under the Audit Committee duties and responsibilities.

  As found in PTT Public Company Limited' s ordinance on the Audit Committee and Internal Audit Unit , B. E. 2020

  **This Audit Committee Charter has made as Thai issue and translation into English issue.

The company hereby certifies that

• 1. The qualifications of the aforementioned members meet all the requirements of the Stock Exchange of Thailand; and

• 2. The scope of duties and responsibilities of the audit committee as stated above meet all the requirements of the Stock Exchange of Thailand

Signature

Auttapol Rerkpiboon (Auttapol Rerkpiboon)

President & CEO