PTT Public : Approval of the interim dividend payment

(Translation)

No. 80000001/315

March 30, 2020

To : President,

Stock Exchange of Thailand

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

Re : Postponement of the 2020 Annual General Meeting of Shareholders ("AGM") and approval of the interim dividend payment

PTT Public Company Limited ("PTT") refers to the Board of Directors' resolutions to hold the 2020 Annual General Meeting of Shareholders on Friday April 10, 2020 at 13.30 hours at Bangkok Convention Center, 5th Floor, Central Plaza Ladprao (Plaza Zone), No. 1695 Phaholyothin Road, Chatuchak, Bangkok. The Notice of the meeting has been distributed to Shareholders.

As the outbreak of the Coronavirus Disease 2019 ("COVID-19") in Thailand which is rapidly spread and could cover wider range. In this regard, the government has announced a state of emergency declared in all areas of the Kingdom of Thailand dated March 25, 2020, and according to Section 9 of the Emergency Decree on Public Administration in Emergency Situation, B.E. 2548 and Bangkok Metropolitan Administrative announcement, dated March 27, 2020, Subject: Temporary Closure of the Premises (No.4), and requested to consider activities involving gathering, which may promote person-to-person transmission of the virus. Also, PTT which has been closely monitoring in this situation, is deeply concerned that even the stringent precautionary measures that PTT has prepared may not be sufficient to significantly reduce the risk. In addition, given the volatility of the situation, it is virtually impossible to predict its future development. As such, after duly consideration, PTT's Board of Directors, on the Special Meeting No 1/2020 held on March 26, 2020, resolved as follows;

1. The 2020 Annual General Meeting of Shareholders, previously scheduled for April 10, 2020 at 13.30 hours at Bangkok Convention Center, 5th Floor, Central Plaza Ladprao (Plaza Zone), No. 1695 Phaholyothin Road, Chatuchak, Bangkok, will be postponed until the situation is resolved. This includes cancellation of the meeting date and agendas as well as the record date for the right to attend the meeting schedules on March 5, 2020. Such postponement will not cause any significant effect to PTT's business operation and shareholders' rights to receive the dividend.
2. The Approval of an interim dividend payment from the Company's profit as of December 31,
   2019 at Baht 1 . 10 per share, totaling Baht 31,419 million. The dividend will be paid from the unappropriated retained earnings which subjected to 20% and 15% corporate income tax wherein individual shareholders shall be entitled to a Dividend Tax Credit under Section 4 7 bis of the

-2-

Revenue Code at the rate of Baht 0 . 5 2 and 0 . 3 3 per share respectively and paid from the unappropriated retained earnings from dividend received from PTT Exploration and Production Public Company Limited (PTTEP) which is subjected to 5 0 % petroleum income tax wherein individual shareholders shall not be entitled to a Dividend Tax Credit under Section 47 bis of the Revenue Code at the rate of Baht 0 . 2 5 per share. The Record Date to determine the name of shareholders who are entitled to receive the dividend is on March 5, 2020, as previously set. The dividend will be paid on Friday April 24, 2020.

The Board of Directors consider to approve the aforementioned rate, which is the same as the rate the Company intended to propose for approval at the Annual General Meeting of Shareholders, to reduce impact from the sudden and indefinite postponement of the meeting. With the interim dividend payment rate of 1.10 Baht per share combined with the rate of 0.90 Baht per share for the first half of 2019, approved by the Board of Directors on September 27, 2019, the total dividend payment derived from the Company's profit in 2019 will amount to 2.00 Baht per share. In this regard, the Board of Directors will not propose any other dividend payment from 2019 profits.

PTT would like to apologize for the short notice of indefinite postponement of the 2020 Annual General Meeting of Shareholders. In the meantime, PTT will continue to closely monitor the situation of the outbreak of the Coronavirus Disease 2019 ("COVID-19") as well as to consider alternatives allowed by the law so as to be able to hold the 2020 Annual General Meeting of Shareholders as soon as is reasonably practicable.

Yours sincerely,

Chansin Treenuchagron

President& CEO

Office of President

Tel:[phone], Fax:[phone]