PTT : Establishment of PTT's subsidiary

(Translation)

No. 80000001/1247

22 December 2020

Subject Establishment of PTT's subsidiary

To President

The Stock Exchange of Thailand

PTT Public Company Limited (PTT)'s Board of Directors at the meeting No. 9/2020 on 17 September 2020 passed the resolution of establishment of Innobic LL Holding Co.,Ltd., a wholly owned subsidiary of Innobic (Asia) Co.,Ltd., subsidiary of PTT. The objective of Innobic LL Holding Co.,Ltd. is one of PTT's arm length for investment in international pharmaceutical business to align with PTT's new business strategy and to enhance PTT's capabilities in life science business. Subsequently, Innobic LL Holding Co.,Ltd. was completed its registration with a registered capital approximated Baht 2,000 million on 22 December 2020.

This transaction is not a connected transaction and the transaction size does not require any disclosure under regulations on acquisition and disposition of assets of the listed companies. However, this is a report that a listed company or its subsidiary company acquires or disposes of an investment in another company, which results in that other company becoming or ceasing to be a subsidiary company of the listed company or its subsidiary company. Therefore, this transaction resulted that Innobic LL Holding Co.,Ltd., is the subsidiary of PTT.

Please be informed accordingly.

Yours sincerely,

(Mr. Auttapol Rerkpiboon)

President & Chief Executive Officer

Investor Relations Department

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