BANGKOK, THAILAND - 21 November 2023 - In light of ever-evolving global lubricants market, Thailand's leading oil and retail company PTT Oil and Retail Business Plc. (OR) has continued to retain its robust presence and reputation for excellence as Thailand's no. 1 lubricants brand with growing international penetration over the years.

With integrated lubricant operation under the PTT Lubricants trademark, OR offers a diverse product line catering to various industries with lubricants designed for gasoline and diesel engines, motorcycles, trucks, marine and fishery machinery, and agricultural and industrial machinery.

Over 30 years, OR has continued to expand its industrial lubricant offerings domestically and internationally through business acquisitions or partnerships. Since its first entrance to foreign market in 2004, PTT Lubricants products have now been exported to more than 40 countries around the world, covering Asia, Oceania, Africa and Europe. As of December 31, 2022, OR sold lubricant products to over 700 wholesale and industrial customers.

OR also sells lubricant products and provides scheduled maintenance services, which covers changing of engine spare parts and PTT Lubricants products for motorists through FIT Auto service center network. As of October, 2023, OR registered 94 branches of FIT Auto in Thailand, and 5 branches in Cambodia and Laos.

PTT Lubricants is an avid, long-standing endorser of motorsport with a series of sponsorship program in local and international auto and motorcycle racing scenes, including Racing Car Thailand, OR BRIC Superbike, MotoGP, GT World Challenge Asia as well as several international Grand Prix series.

OR has constantly improved and innovated lubricants formulations to meet evolving market demand and current global sustainability expectations and ongoing transformation to e-mobility. In 2020, OR became the first lubricant supplier in Thailand to offer products that comply with the latest API, SP, and ILSAC GF-6A standards with the launch of the EVOTEC technology for engine protection in its PERFORMA lubricants for gasoline engines.

In 2022, OR collaborated with KI Sugar Group for the first time to improve lubricants formulations to better meet specific needs of industrial sugar producers. In the same year, the launch of PTT Lubricants EV Fuild, the brand's first specialized lubricants for electric vehicles (EV), demonstrated OR's endeavor to take lead on the ongoing transition to EV.

To further enhance its caliber for supply chain management, OR opened an Automated Lubricants Distribution Center in 2022 with automated storage and retrieval system to distribute up to 260,000,000 liters of products per year and accommodate its significant domestic and international growth.

PTT Lubricants products embarked on its international expansion starting with neighboring CLMV countries (Cambodia, Laos, Myanmar, and Vietnam). Myanmar, Laos, Cambodia and Vietnam strategic markets with growing demand for lubricants products and consumption behavior similar to that in Thailand. In addition, these countries have seen gradual increase in the number of vehicles on-road and rapid industrialization as attractive foreign investment destinations, which represent strong opportunity for OR to grow its lubricants products market.

With well-established operations of PTT Station and Café Amazon in Laos and Cambodia, OR has quickly become a familiar brand to consumers, facilitating sales and marketing of PTT Lubricants products to wider consumer base. OR has utilized both sales strategies such as promotional activities for dealers and customers as well as special marketing activities across online and offline channels.

In Myanmar, PTT Lubricants products have been available for more than 18 years and is currently number 2 market leader. OR has collaborated with local distributors in implementing strategies for market expansion, such as developing products that meet specific market needs, providing marketing support with product advertisement across various channels, both online and offline, as well as organizing training sessions to provide sales and technical knowledge for distributors.

With its geographic sea territory of long coastal line and fast-paced industrialization, Vietnam is blessed with opportunity for PTT Lubricants as the country with 4th highest consumption volume of lubricant products in ASEAN, after Indonesia, Thailand, and Singapore. PTT Lubricants business in Vietnam has enjoyed a constant growth with distributors across major cities like Ha Noi, Ho Chi Minh, Da Nang, possessing wide-coverage market penetration in high-street segment encompassing car, truck and motorcycle users, as well as industrial and fishery machinery segments.

Other Southeast Asian markets that present strong potential for PTT Lubricants are Indonesia and the Philippines. PTT Lubricants has entered Indonesian market since 2016, starting with selling products for motorcycle and automotive through garages and dealers in Jakarta and now expanded across major cities including Java, Kalimantan, Sumatra, Selawesi, with sales volume significantly growing year after year. Extensive marketing campaigns and activities across online and offline channels encompassing social media platforms, OOH media, sponsorship program as well as strong online e-Commerce platforms have also driven PTT Lubricants to rapidly achieve a remarkable success in Indonesia. OR has also ventured into industrial sectors with high growth potential like coal mining and sugar mill industries.

With extensive volume of private and public transportation in the country, the Philippines is a significant market with high demand for clear oils and lubricants. To thrive against fierce competition in the market that goes in line with high demand, PTT Lubricants has introduced a series of supporting marketing programs such as online campaigns to promote brand and products, influencer engagement for product reviews on social media, expand online distribution through major e-Commerce platforms, as well as roadshow activities at dealer shops and garages to reach wider consumer base.

Beyond Southeast Asia, Taiwan is another key market for PTT Lubricants with over 14 years of presence focusing on products for gasoline vehicles and motorcycles. With extensive marketing and promotional activities and motorsport sponsorship program launched throughout the years, PTT Lubricants has continued to gain consumer trust as a preferred lubricants brand among general motorists, drivers of leading European car brands like Mercedes Benz, Volkswagen, Audi, Porsche, as well as riders of the same big bike models used in racing circuits.

PTT Lubricants has also expanded into Malaysia, Singapore, and other Asian countries like China, etc., with increasing market presence and consumer preference driven by e-commerce platform, integrated marketing channels as well as consumer engagement activities and event sponsorship programs.

OR is also looking for opportunities to expand its PTT Lubricants market to countries around the world with high demand, both in South Asia like Sri Lanka Bangladesh, and Africa, such as Morocco, Ethiopia and Tanzania.

Looking forward to being a key player in shaping the future of mobility, OR will continue to adopt various strategies in order to strengthen PTT Lubricants market position and expand global reach with diverse product portfolio to cater to a wide range of industries and customer segments.

The issuer is solely responsible for the content of this announcement.

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