IRPC : Notification of a renewal contract regarding connected transaction on providing or receiving financial assistance

-Translation-

Ref. Ngor Nor Por. 041/2020

21 December 2020

Subject : Notification of a renewal contract regarding connected transaction on providing or receiving financial assistance

To : President,

The Stock Exchange of Thailand

Reference : IRPC's SET Notification Letter No. Ngor Nor Por. 065/2016, Dated 20 December 2016,

Reference : regarding connected transaction on providing and/or receiving financial assistance

The Board of Directors Meeting of IRPC Public Company Limited (the "Company") No.12/2016 held on 20 December 2016 passed the resolution to grant an approval to enter into Inter-Company Borrowing and Lending ("ICBL") contract between the Company and PTT Public Company Limited ("PTT") according to the company's SET notification as aforementioned in order to optimally manage the Company's short-term liquidity.

To maintain optimal short-term liquidity management, the Company and PTT renewed the ICBL contract on 20 December 2020 (the latest ICBL contract was expired on 19 December 2020). Note that the renewal of the contract was performed under the management's authority delegated from the Board of Directors according to the aforementioned resolution of the Board of Directors Meeting. This renewal contract is deemed a connected transaction relating to providing and/or obtaining financial assistance as PTT being the company's major shareholder. The Company hereby discloses the details of the transaction as follows :

Transaction Date	20 December 2020
Related Parties and	PTT, a major shareholder of the Company
Relationship
Connected Transaction	Obtaining Financial Assistance	Providing Financial Assistance
Type
Short-term borrowing	Short-term lending
Facility Type	Uncommitted Unsecured Short-Term Loan
Currency	THB or USD, upon the mutual agreement between both parties
Contract Period	Less than 1 Year (20 December 2020 to 19 December 2021)

Basis for Calculation of	Obtaining Financial Assistance	Providing Financial Assistance
Connected Transaction
Value	Calculated from annual interest	Calculated from principle and
	expense	annual interest income
	Total amount not exceeding	Total amount not exceeding
	Baht 10,000 million	Baht 1,500 million
	The total connected transactions is less than 3% of Net Tangible Assets
	as of 30 September 2020
Interest Rate	Interest rate based on market rate	Interest rate based on market rate
	by considering on the return on	by considering on the return on
	investment which lender received	investment which lender received
	from other investment, the interest	from other investment, the interest
	rates for short-term loans from	rates for short-term loans from
	financial institutions, credit rating	financial institutions, credit rating
	of borrower, finance costs and	of borrower, finance costs and
	other relevant risks. With the	other relevant risks. With the
	interest rate at Bangkok Interbank	interest rate at Bangkok Interbank
	Offered Rate: BIBOR (Borrowing	Offered Rate: BIBOR (Borrowing
	rate on THB) or London Interbank	rate on THB) or London Interbank
	Offered Rate: LIBOR (Borrowing	Offered Rate: LIBOR (Borrowing
	rate on USD) or appropriate	rate on USD) or appropriate
	interest rate in the case of market	interest rate in the case of market
	disruption.	disruption.

Please be informed accordingly.

Yours sincerely,

(Mr. Chawalit Tippawanich)

President and Chief Executive Officer

Finance & Investor Relations Department

Tel. [phone]

Fax.[phone]