PTT Oil and Retail Business Public : Establishment of a new joint venture to manufacture and distribute ready-to-drink products

(Translation)

No. 31300001/ 89 /2564

	June 8, 2022
Subject	Establishment of a new joint venture to manufacture and distribute ready-to-drink products
To	President
	The Stock Exchange of Thailand

PTT Oil and Retail Business Public Company Limited (OR) 's Management Committee (ORMC) at the meeting No. 12/2565 on March 29, 2022, resolved to approve Modulus Venture Company Limited (Modulus), a wholly-owned subsidiary of OR, to establish a new joint venture which Modulus will hold 50% stake, and Boonrawd Trading Co., Ltd. (Boonrawd) will hold 50% of all common shares issued by the new joint venture. Modulus will invest in the amount of no more than THB 210 million. The objective of this joint venture is to manufacture and distribute ready-to-drink products. Modulus had signed the related contracts on June 8, 2022. The new joint venture is expected to complete its registration by the third quarter of 2022.

In this regard, this transaction is not classified as a connected transaction, and the transaction size is not required to be disclosed according to the regulations on the acquisition and disposition of assets of the listed companies. However, this is a report that OR and our subsidiaries acquired an investment in another company, resulting in OR's jointly control of the new joint venture. Moreover, for transparency purposes, this transaction is disclosed to ensure fair access to important information for all investors.

Please be informed accordingly.

Yours sincerely,

Ms. Jiraphon Kawswat

Acting President & Chief Executive Officer

Investor Relations Management Department

Tel : [phone]