PTT Oil and Retail Business Public : Notification of the investment in Polar Bear Mission Company Limited (Freshket)

(Translation)

No. 31300001/ 83 /2565

	May 20, 2022
Subject	Notification of the investment in Polar Bear Mission Company Limited (Freshket)
To	The President
	The Stock Exchange of Thailand

PTT Oil and Retail Business Public Company Limited (OR) would like to inform that OR's Management committee (ORMC) at special meeting No. 1/ 2565 on April 28, 2022, resolved to approve Modulus Venture Company Limited (Modulus), a wholly-owned subsidiary of OR, to invest through purchasing newly issued preferred stock of Polar Bear Mission Company Limited (Freshket), with a total investment amount not exceeding USD 14.5 million. Freshket is a food supply chain service provider that procures, imports and distributes quality raw materials for restaurants, hotels and consumers by utilizing technology to effectively and transparently manage the chain. The investment objective is to strengthen OR's and OR Group's capability in the retail business to respond to the changing customer behavior as well as creating opportunities for inclusive growth both domestically and internationally. In this regard, Modulus has signed a share subscription agreement and a shareholder agreement on May 19, 2022.

This transaction is not classified as a connected transaction, and 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 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]