PTT Oil and Retail Business Public : Report on the Utilization of Proceeds from the Initial Public Offering (IPO) as of 30 June 2022

	(Translation)
No. 31300012/38/2565
	27 July 2022
Subject	Report on the Utilization of Proceeds from the Initial Public Offering (IPO) as of 30 June 2022
To	The President
	The Stock Exchange of Thailand

With reference to PTT Oil and Retail Business Public Company Limited ("OR")'s initial public offering ("IPO"), in the amount of 3,000,000,000 shares at 18.00 Baht per share in which OR received net proceeds in the amount of THB 53,497 million (after the deduction of expenses relating to IPO).

OR reports the utilization of proceeds as of 30 June 2022 as follows:

				Unit : THB Million
		Approximate		Accumulated
	Objectives	Utilization Plan		Use of Proceeds
		2021-2025		until 30 June 2022
1.	Retail fuel service station expansion	13,300		2,212
2.	Commercial marketing expansion	3,800		1,625
3.	Investment in storage terminals and distribution centers for oil business	8,500		1,737
4.	Non-oil retail outlet expansion	9,800		1,328
5.	Investment in international business	9,500		1,277
6.	Company's working capital and/or the repayment of loans (if any). For	8,597		8,597
the highest advantage to the Company and its subsidiaries
Total	53,497(1)		16,776
Outstanding			36,721

Note: (1) With reference to OR's filing, the estimated net offering amount (after deduction of related expenses) was THB 41,079 - 53,209 million, but the actual net received is THB 53,497 million. The variance of THB 288 million was utilized as working capital.

Please be informed accordingly.

Yours Sincerely,

(Mr. Phichin Aphiwantanaporn)

Senior Executive Vice President, Finance

Investor Relations Management Department Tel : [phone]