Thai Oil : Notification on the Implementation of the Marine Transport Business Unit Restructuring Plan of Thai Oil Public Company Limited

Ref. TBK 13/0222

	30 April 2021
Subject:	Notification on the Implementation of the Marine Transport Business Unit Restructuring Plan of
	Thai Oil Public Company Limited
To:	President of the Stock Exchange of Thailand
Reference:	Information Memorandum of Thai Oil Public Company Limited Ref. TBK 13/0683 Re: Notification
	of the Restructuring of the Marine Transport Business Unit dated 23 December 2020

Reference is made to the Board of Directors Meeting No. 11/2020 of Thai Oil Public Company Limited (the "Company") held on 25 November 2020, which approved to proceed with the restructuring of the Company's marine transport business unit. The restructuring of the marine transport business unit comprising, Step 1 acquiring all ordinary shares in Thaioil Marine International Pte Ltd. (" TOMI") from Thaioil Marine Company Limited ("TM") representing 100 percent of all issued shares of TOMI and Step 2 disposing of all ordinary shares directly held by the Company in TM to Phurich Marine Company Limited (the " Buyer"), a subsidiary of Prima Marine Public Company Limited, representing 100 percent of all issued shares of TM , the details of which are shown in the information memorandum as per the Reference.

The Company hereby informs that the Company has completed the restructuring of the Company's marine transport business unit. On 25 March 2021, the Company acquired all ordinary shares in TOMI from TM at the total share purchase price of THB 277.18 million, and on 30 April 2021, the Company disposed of and transferred all ordinary shares held by the Company in TM to the Buyer at the total share purchase price of THB 858.60 million, leading to TM's termination as a subsidiary of the Company.

Following this business restructuring, the Company will be able to allocate existing resources to focus on other core businesses of the Company more fully and efficiently, which is in accordance with the Company's long- term business strategy.

This transaction is not a connected transaction and the size of the transaction is exempted from being disclosed information under the regulation governing the acquisition and disposition of assets of listed companies. However, the Company disclosed this information in accordance with the regulation of the Stock Exchange of Thailand re: Rules, Conditions and Procedures Governing the Disclosure of Information and Other Acts of a Listed Company B.E. 2560 (2017) (as amended).

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. 42060 - 42063 / Facsimile 0 2299 0025