PTT Public : Establishment of Gulf MTP LNG Terminal Company Limited and the execution of Public Private Partnership (PPP) contract with Industrial Estate Authority of Thailand

(Translation)

No. 80000182/131

1 October 2019

Subject Establishment of Gulf MTP LNG Terminal Company Limited and the execution of Public Private Partnership (PPP) contract with Industrial Estate Authority of Thailand

To President,

The Stock Exchange of Thailand

PTT Public Company Limited ( " PTT" ) would like to inform that on 1 October 2019 PTT Tank Terminal Company Limited ("PTT Tank"), a wholly owned subsidiairy of PTT, and Gulf Energy Development Public Company Limited ("GULF") had registered to establish a new joint venture company under the name of Gulf MTP LNG Terminal Company Limited with the initial registered capital of Baht 3,500 million. PTT Tank and GULF hold 30% and 70% stakeholding, respectively, in Gulf MTP LNG Terminal Company Limited following the resolution of PTT's Board of Directors at the meeting No.6/2562 on 20 June 2019. The company's objective is to conduct LNG Value Chain related business and logistic to support other future investments that consistent with PTT' s strategy, as well as creating business alliances to increase business opportunities both domestically and internationally.

On 1 October 2019, Gulf MTP LNG Terminal Company Limited entered into a Public Private Partnership (PPP) contract with Industrial Estate Authority of Thailand ("IEAT") for development of Map Ta Phut seaport phase III (Section 1) with the joint investment including land reclamation with the investment cost of approximately Baht 12,900 million, and the right of construction of LNG terminal phase 1 with the capacity of not less than 5 MTA for the approximately amount of Baht 28,000 million. Therefore, the total investment of the project shall be approximately Baht 40,900 million. Additionally, on 24 September 2019, the Cabinet approved the private entity selection, negotiations and the draft contract for development of Map Ta Phut seaport phase III (Section 1) as proposed by the Eastern Economic Corridor Office.

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In this regard, the transaction is not a connected transaction and the transaction size does not require disclosure under the rule, procedures and disclosure of information concerning the acquisition and disposition of assets of the listed company. However, this transaction is the acquisition or disposition of an investment in another company, which does not result in that other company becoming to be a subsidiary company of the listed company or its subsidiary company. Therefore, this is the report of the joint investment to be in line with the report of another listed company as aforementioned.

Please be informed accordingly.

Yours sincerely,

(Mr. Auttapol Rerkpiboon)

Chief Operating Officer, Downstream Petroleum Business Group

Investor Relations Department

Tel [phone]

Fax [phone]

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