GC to Increase Vinythai Shares through Delisting Tender Offer, Strengthening Downstream Chemicals Business, and Expanding Its Business in CLMV Market

GC's Board of Director's special meeting on 18 March 2021 has resolved to approve GC to, subject to certain conditions, proceed a delisting tender offer ("DTO") of all common shares of VNT to delist the securities of VNT from the SET, at the offer price of THB 39 per share, which is subject to price adjustment in accordance with the laws and regulations of the Securities and Exchange Commission, Thailand ("SEC"). VNT's majority shareholder, AGC Inc. ("AGC"), has agreed not to tender any of its majority stake in VNT through the DTO. VNT is and continues to be a core business and subsidiary of AGC after the DTO. Following the delisting of VNT's securities from the SET, GC together with AGC has a potential plan to amalgamate VNT and AGC Chemicals (Thailand) Company Limited. ("AGC-TH"), which will become a major shareholder of AGC Chemicals Vietnam Company Limited. ("AGC-VN"), to form a new non-listed public company ("NewCo"). AGC will hold a majority stake in NewCo. This partnership aims to strengthen competitive position and build synergies for VNT, AGC-TH and AGC-VN, under an integrated PVC and Chlor-Alkali business operator in Thailand and Vietnam. The amalgamation will enable NewCo to have a cost effective and better competitive advantage in key production facilities including 450,000 tons per year of PVC, 720,000 tons per year of Caustic Soda and 120,000 tons per year of bio-based Epichlorohydrin (ECH). After the completion of the amalgamation, NewCo may increase its capital by issuing new share to GC via private placement.

This investment of shares will drive GC's growth in the downstream business , by allowing GC to increase substantial stake in PVC and Chlor-Alkali businesses in high-growth markets as Thailand and CLMV, and by adding value to GC's olefins business.

About products:

• PVC or Polyvinylchloride Resins
  Served a variety of industries including automotive, building and construction, electricals and electronics, consumer goods, packaging, and healthcare.
• Caustic Soda
  Used in a wide range of applications in daily life such as pulp & paper, detergents, metallurgy, fibers and food & feeds.
• Bio-based Epichlorohydrin (ECH)
  ECH is primarily used as a precursor of epoxy resin serving protective coating, electronics and advanced composites industry. Bio-based ECH is produced from vegetable Glycerin as renewable raw material by using innovative and patented technology. As a result, Bio-based ECH offers downstream users environmental advantages.

About PTT Global Chemical Public Company Limited (GC)

PTT Global Chemical Public Company Limited, or GC, was registered as a public company limited on October 19, 2011, to serve as PTT Group's chemical flagship operation. GC has a combined olefins and aromatics capacity of 11.65 million tons per year together with a refining capacity of 280,000 barrels per day of crude oil and condensate. The company's core businesses consist of the Group Performance Center - Refinery & Shared Facilities, Group Performance Center - Aromatics, Group Performance Center - Olefins, Polymers Business Unit, EO-Based Performance Business Unit, Green Chemicals Business Unit, Phenol Business Unit, and Performance Materials & Chemicals Unit. GC is Thailand's largest integrated petrochemical and refining business and a leading corporation in the Asia-Pacific region, both in terms of company size and product variety. GC was rated number one in the world for sustainability in the DJSI Chemicals Sector in 2019 and 2020.

For more information, please visit https://www.pttgcgroup.com/

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