Thai Oil : Notification of Additional Information Related to the Subscription Ratio for the Offering and Allocation of the Newly Issued Ordinary Shares of Thai Oil PCL for the Eligible Shareholders of the Company

Ref. TBK 13/0426

19 August 2022

Subject: Notification of Additional Information Related to the Subscription Ratio (Ratio) for the Offering and Allocation of the Newly Issued Ordinary Shares of Thai Oil Public Company Limited for the Eligible Shareholders of the Company who will Receive the Allocation of the Ordinary Shares in Proportion to their Shareholding

To:	President of the Stock Exchange of Thailand
Ref:	1.	The Company's Letter Ref. TBK 13/0298 dated 31 May 2022 re: Notification of development and Board's
		Resolutions on the Record Date for shareholders who are entitled to allocation rights of newly issued ordinary shares
		and the Company's reservations of shares allocation
	2.	The Company's Letter Ref. TBK 13/0310 dated 14 June 2022 re: Notification of Change on the Record Date for
		Shareholders who are Entitled to Allocation Rights of Newly Issued Ordinary Shares
	3.	The Company's Letter Ref. TBK 13/0408 dated 5 August 2022 re: Notification of the New Record Date for
		Shareholders who are Entitled to Allocation Rights of Newly Issued Ordinary Shares

Reference is made to the development of the fund raising and the allocation of the newly issued ordinary shares of Thai Oil Public Company Limited (the "Company"), in which the date for determining the names of the Company's shareholders (Record Date) who are entitled to allocation rights of newly issued ordinary shares has been set on 19 August 2022, the details of which are to be found in the aforementioned documents Ref. 1-3.

The issuance and offering of the newly issued ordinary shares of the Company to the general public (Public Offering) is in accordance with the resolution of the Company's Annual General Meeting of Shareholders of the year 2 0 2 2 , held on 7 April 2022, which approved the allocation of the newly issued ordinary shares for offering to the existing shareholders of the Company in proportion to their shareholding of no less than80 percent of the total newly issued ordinary shares to be issued and offered in this offering, which will have the same offering price as that offered to the general public (Public Offering). In this regard, the Company would like to inform that this issuance and offering of the newly issued ordinary shares to the eligible shareholders of the Company who will receive the allocation of the ordinary shares in proportion to their shareholding, will have subscription ratio (Ratio) equals to 11.7681 of the Company's existing ordinary shares per 1 newly issued ordinary share of the Company (in the event that there are fractions of shares as decimal places resulting from the calculation, fractions of the said share will be rounded down). In this regard, in the determination of the said subscription ratio, various important factors have been taken into account, such as some proportion of the existing shareholders of the Company in which the Company reserves the right not to

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offer and not to allocate the newly issued ordinary shares to,1 including that the number of the newly issued ordinary shares to be offered to the existing shareholders of the Company in proportion to their shareholding must be no less than 80 percent of the newly ordinary shares to be issued and offered this time.

In this regard, shareholders whose names appear in the register book as of the date for determining the names of the Company's shareholders (Record Date) as mentioned above, and are eligible shareholders of the Company who will receive the allocation of the ordinary shares in proportion to their shareholding according to the details of the reservation of the Company which was informed previously, are able to subscribe for the newly issued ordinary shares this time, both subscription according to their shareholding proportion and over-subscription, in which the Company will send documents notifying the rights and subscription details for the newly issued ordinary shares of the Company to the eligible shareholders of the Company who will receive the allocation of the ordinary shares in proportion to their shareholding by registered mail, and the Company will proceed to announce the offering price of the its newly issued ordinary shares and other relevant information, including subscription period, which will be informed later after the registration statements and draft prospectus of the Company have become effective.

In this regard, the reservation for the allocation of the newly issued ordinary shares of the Company as well as other relevant information, which were previously notified to the investors, remain the same in all aspects as previously stated in the Company's Letter in Ref. 3 as referred to above. The Company reserves the right not to offer and allocate the newly issued ordinary shares to the existing shareholders of the Company if the conditions and reservation have not been met.

Please be informed accordingly.

Yours truly,

Thai Oil Public Company Limited

(Mr. Wirat Uanarumit)

Chief Executive Officer and President

Investor Relations Section: Telephone [phone] Ext . 42061-42063

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1 Reservation to allocate the Company's newly issued ordinary shares, including other relevant information, remain the same in all aspects as previously notified to the investors in the Company's Letter in Ref 3, which the Company reserves the right not to offer and allocate the newly issued ordinary shares to the existing shareholders of the Company who reside outside of Thailand, except for the offering and allocation of shares to the existing shareholders of the Company who can be categorized as institutional investors, individuals or juristic persons, who reside in one of the countries (depending on the case) according to the conditions specified in the said reservation

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THIS DOCUMENT IS PREPARED ONLY FOR THE PURPOSE OF PROVIDING THE INFORMATION TO SHAREHOLDERS OF THAI OIL PUBLIC COMPANY LIMITED (THE " COMPANY") WHO ARE ENTITLED TO ALLOCATION RIGHTS OF NEWLY ISSUED ORDINARY SHARES IN ACCORDANCE WITH THE DETAILS AND CONDITION OF THE RESERVATIONS STIPULATED BY THE COMPANY. THE RECIPIENT OF THIS DOCUMENT SHOULD NOT RELY ON THE INFORMATION IN THIS LETTER IN MAKING THE DECISION TO SUBSCRIBE OR INVEST IN THE COMPANY'S ORDINARY SHARES OR ANY SECURITIES OF THE COMPANY.

IN ADDITION, THE DOCUMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES IN THE UNITED STATES OR IN ANY OTHER JURISDICTION IN WHICH SUCH OFFERS OR SALES MAY BE UNLAWFUL. THE ORDINARY SHARES OFFERED OR TO BE OFFERED HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, (AS AMENDED) (THE "U.S. SECURITIES ACT"), OR WITH ANY SECURITIES REGULATORY AUTHORITY OF ANY STATE OR OTHER JURISDICTION OF THE UNITED STATES AND MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, INTO THE UNITED STATES UNLESS SUCH ORDINARY SHARES ARE SO REGISTERED UNDER THE U.S. SECURITIES ACT OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS IS AVAILABLE UNDER THE U.S. SECURITIES ACT.