Oversubscribed More Than 8 Times, Reinforcing Investor Confidence and Strengthening Financial Position in Line with GC’s Deleveraging Plan

Bangkok – 11 September 2025 – PTT Global Chemical Public Company Limited (GC), Thailand's largest integrated petrochemical and refining company, and a leading chemical company in the Asia-Pacific region, announced to the Stock Exchange of Thailand that GC Treasury Center Company Limited (GCTC), a wholly owned subsidiary of GC, together with six leading global banks – Bank of America, National Association; Citibank N.A. Bangkok Branch; HSBC Thailand; J.P. Morgan Chase Bank, Bangkok Branch; Mizuho Bank, Bangkok Branch; and Standard Chartered (Thai) Public Company Limited – successfully issued subordinated perpetual securities denominated in U.S. dollars, with a total value of US$1.1 billion, offered to international investors.

This transaction marks GC’s first-ever issuance of USD-denominated subordinated perpetual debentures, the first by PTT Group in eight years, and the first-ever issuance of this size in South and Southeast Asia. The offer received overwhelming demand, attracting orders over eight times the issue size, underscoring strong confidence from international investors in GC’s capabilities and financial strength, alongside support from domestic investors.

At the same time, this issuance underscores GC’s commitment to the strategy announced earlier this year to enhance financial liquidity through deleveraging. It is a tangible step that improves cost management efficiency and strengthens liquidity, laying a solid foundation for GC’s resilient and sustainable growth amid global economic and petrochemical industry uncertainties.”

Mr. Narongsak Jivakanun, Chief Executive Officer of GC, said, “The success of this issuance not only reflects the confidence of investors worldwide but also demonstrates GC’s milestone in its financial strategy to strengthen our financial position, reduce leverage, and improve cost management efficiency. At the same time, it enhances our resilience in navigating the uncertainties of the global economy and the petrochemical industry.”

Mr. Thitipong Jurapornsiridee, Executive Vice President – Finance and Accounting of GC , said, “GC will continue to strengthen its financial management to support our sustainable growth in high-value, low-carbon businesses. We sincerely thank our investors, both domestic and international, for their trust and strong support.

The instruments issued by GCTC are unsecured and subordinated perpetual debentures, redeemable only upon liquidation, with the issuer retaining the right to redeem early and to defer coupon payments unconditionally. The issuance comprises two tranches: 1) US$600million with a coupon rate of 6.5% per annum for the first five years and three months from issue date and 2) US$500million with a coupon rate of 7.125% per annum for the first ten years from issue date.

Both tranches are fully guaranteed by GC and have been assigned a rating of Ba2 and BB by Moody's and Fitch Ratings, respectively, and will be listed on the Singapore Exchange Securities Trading Limited (SGX-ST). Proceeds from this issuance will be used to fund the tender offer for GCTC’s existing debentures currently outstanding, as well as for general corporate purposes, including, but not limited to, debt repayment and on-lending to entities within GC Group.