(Translation)

Ref. TBK 13/0515

November 9, 2021

Subject: Submission of Thai Oil Public Company Limited and its subsidiaries' financial statements and MD&A for the third quarter year 2021

To:President of The Stock Exchange of Thailand

Attachment: 1. A copy of financial statements and independent auditor's report of Thai Oil Public Company Limited and its subsidiaries for the third quarter year 2021 period ended September 30, 2021 with a copy of English translation

  1. Management's Discussion and Analysis (MD&A) and the summary of consolidated financial performance for Thai Oil Public Company Limited and its subsidiaries for the third quarter year 2021 period ended September 30, 2021
  2. Company's performance report (Form F45)

Dear Sirs,

Thai Oil Public Company Limited, ("the Company") would like to submit the financial statements and consolidated financial statements for the third quarter year 2021 period ended September 30, 2021 reviewed by our certified public accountant and the Company's Audit Committee. In addition, the Company's Audit Committee has given approval to disclose to public our financial statements and MD&A, as per attachments.

Thaioil and Subsidiaries performance for the third quarter year 2021 period ended September 30, 2021 could be summarized as follows:

In Q3/21, Thaioil and Subsidiaries reported the Accounting Gross Integrated Margin (Accounting GIM) at 10.5 US$/bbl and had the integrated intake of 259 thousand barrels per day and registered sales revenue of THB 79, 960 million. Aggregating with operating costs, financing costs, income tax expense, loss on foreign exchange, Thaioil and Subsidiaries had net profit of THB 2,063 million, or THB 1.01 per share including stock gain before tax of THB 3,915 million and write down on crude and petroleum product inventory before tax of THB 280 million.

…/2

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For 9M/21, Thaioil and Subsidiaries reported the Accounting Gross Integrated Margin (Accounting GIM) at

10.2 US$/bbl. With the integrated intake of 270 thousand barrels per day, Thaioil and Subsidiaries registered sales revenue of THB 231, 530 million. Aggregating with operating costs, financing costs, income tax expense and loss on foreign exchange, Thaioil and Subsidiaries had net profit of THB 7, 545 million, or THB 3.70 per share including stock gain before tax of THB 12,354 million

As of September 30, 2021, Thaioil and Subsidiaries had total assets of THB 345,849 million, increasing from the year ended 2020 by THB 39,661 million mainly because of an increase in non-current assets due to higher investments in associates, PT TOP Investment Indonesia (TII) which has invested in PT Chandra Asri Petrochemical Tbk ("CAP") for 15 percent of CAP's total shares. Total liabilities of Thaioil and Subsidiaries increased by THB 42,174 million from the year ended 2 0 20 to THB 228,243 million due to increasing in long-term borrowings and debentures after entering into the facilities agreement(s) with PTT Public Company Limited ("PTT"), which is a major shareholder of the Company, and financial institutions for the bridging loan. In addition, Thaioil and Subsidiaries had total equity of THB 117,605 million, decreasing by THB 2,513 million from the end of 2020 due to total comprehensive expense offsetting with dividends paid to non-controlling interests and shareholders of the Company, and liquidation of subsidiary.

Please be informed accordingly.

Yours truly,

Thai Oil Public Company Limited

-//-

Mr. Wirat Uanarumit

Chief Executive Officer and President

Investor Relations Section

Tel. 02 797 2999 Extension 42060 - 42063 / Fax. 02 299 0025

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Thai Oil pcl published this content on 09 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 November 2021 05:52:04 UTC.