PTT Oil and Retail Business Public : Notification of the establishment of a joint venture company to operate an airport refueling service system at the New Phnom Penh International Airport in Cambodia

(Translation)

No. 31300001/88/2565

	6 June 2022
Subject	Notification of the establishment of a joint venture company to operate an airport refueling
	service system at the New Phnom Penh International Airport in Cambodia
To	The President
	The Stock Exchange of Thailand

PTT Oil and Retail Business Public Company Limited (OR) would like to inform that OR's Board of Directors at meeting No. 5/ 2564 on 25 May 2021, passed a resolution for OR or companies in the OR Group, hereby, PTTOR International Holdings (Singapore) to (SG HoldCo), a subsidiary of OR through PTT OR Holdings Limited (OR Holdings), to invest in an aviation refueling service system at the New Phnom Penh International Airport in Cambodia through the establishment of a joint venture between OR, China National Aviation Fuel International Holdings Limited (CNAF) from the People's Republic of China, and Total Energies Marketing (Cambodia) Co., Ltd. (TOTAL), a Cambodia-incorporated entity within the Total Energies company, where all three companies will hold stakes at equal proportions, with SG Hold Co at 33.33%, CNAF at 33.33% and TOTAL at 33.33%, respectively. The source of investment will be from loans and capital from shareholders, where OR will invest in the amount of no more than USD 18.20 million. The objective of this joint venture is to build competitiveness and increase the capability of providing aviation refueling services abroad while also maintaining opportunities and rights to sell aviation fuel in Cambodia. In this regard, all three companies completed the establishment of a joint venture company on 3 March 2022, under the name "Phnom Penh Aviation Fuel Service Co., Ltd. (PPAFS)", for which PPAFS signed a Concession Agreement dated 3 June 2022, together with Cambodia Airport Investment Company Limited (CAIC), a company awarded a concession to develop a new international airport in Phnom

Penh from the Cambodian government, which granted PPAFS a concession right to become an operator of an aviation refueling service system at the New International Airport in Phnom Penh.

This transaction is not classified as a connected transaction, the transaction size does not require disclosure according to the regulations on the acquisition and disposition of assets of the listed companies. However, for transparency purposes, this transaction is disclosed to ensure equal 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]