RPCG : Notification of Supreme Court's Judgment (Amendment)

- Translation -

RPCG/HO-SET/0009/2021

June 23, 2021

Re: Notification of Supreme Court's Judgment (Amendment)

To: President

The Stock Exchange of Thailand

Ref: (1) Letter of the Company RPCG/HO-SET/0010/2019 dated 19 September 2019,

re: Notified the verdict of the Civil Court in Black Case No.Por.3016/2559 and Black Case No.Por 6000/2559

1. Letter of the Company RPCG/HO-SET/0005/2019 dated 29 March 2019,
   re: Notified the verdict of the Civil Court in Black Case No.Por.3492/2560 and Black Case No.Por 3789/2560

Refer to PTT Public Company Limited ("PTT") filed a petition with the Civil Court at the Civil Black Case No.Por.3016/2559, requesting the Civil Court to revoke the award granted by the arbitral tribunal (Dispute Black Case No.114/2552) that required PTT to pay damages for the unlawful termination of the agreement with RPCG Public Company Limited ("RPC") in the amount of THB 390 million per annum starting from February 1, 2012 until the date on which the arbitral tribunal rendered the arbitration award (March 25, 2016), together with 7.5 percent interest per annum on such amount of damages calculated on the date on which the arbitral tribunal rendered the arbitration award until PTT makes payment in full to the Company. Subsequently, the Company subsequently, RPC submitted petitions to Civil Court in regard to arbitral award enforce the award of Black Case No.Por 6000/2559 which the Civil Court ordered a total of two cases are considered together. As on September 19, 2019 the Civil Court read the verdict Black Case No.Por 3016/2559 and Black Case No.Por 6000/2559 which the Civil Court verdict PTT to pay damages for RPC according to the verdict of arbitral award referred to letter (1).

RPCG Public Company Limited (the "Company") filed a petition with the Civil Court at the Civil Black Case No.Por.3492/2560, requesting the Civil Court to revoke the award granted by the arbitral tribunal (Dispute Black Case No.78/2555) that required the Company to compensate the final payment of raw material of condensate residue (CR) at the amount of THB 1,555 million plus interest at the rate of 9.375% per year, calculated from the capital amount of THB 1,518 million, counted from the next date of submission of the dispute (submitted the dispute on May 18, 2012), PTT submitted a petition to the Civil Court in regard to the Civil Black Case No.Por 3789/2560, requesting a judgment to enforce compliance with the arbitral award, which the Civil Court ordered a total of two cases are considered together. As on March 29, 2019 the Civil Court read the verdict Black Case No.Por 3492/2560 and Black Case No.Por 3789/2560 which the Civil Court revoked the judgement of the arbitral tribunal in regard to the Red Case No. 37/2560 and dismissed the request by PTT as per details in the referred letter (2).

On June 23, 2021, the Board meeting acknowledged the judgement of the Supreme Court that judgment of Black Case No.Por 3016/2559 and Black Case No.Por 6000/2559 upholding the verdict of First Instance Court for PTT to pay the damage to RPC in the approximate amount THB 2,200 million in 30 days from the date of the Court's judgement. As a result, the Company recognized income in the financial statements of the second quarter of the year 2021, that is equal to damage which PTT has to pay to the Company.

For Black Case No.Por 3492/2560 and Black Case No.Por 3789/2560, the Supreme Court reverse the verdict of First Instance Court that the Company compensate the payment of raw material of condensate residue (CR) to PTT in the approximate amount of THB 2,800 million within 30 days from the judgment date, which this case the Company acknowledged some of the expense in the year of 2012 financial statements at the amount of THB 1,518 million, the difference amount THB 1,282 million is recorded as an expense in the financial budget in the second quarter of the year 2021.

However the verdicts of the Supreme Court in both of these case are considered final.

In addition, the verdict of two cases did not affect the Company's performance, which does not affect the operating results of the Company because the Company has sufficient assets to pay as stated.

Please be informed accordingly.

Sincerely Yours,

(Mrs.Supannee Tanchaisrinakorn)

Company Secretary

Investor relation / Office of Managing Director Email: [e-mail]. [phone]