Bangkok – August 10, 2026 – PTT Global Chemical Public Company Limited, or GC, unveiled its business direction amid continued volatility in the global economy and industry. The company is strengthening all its core businesses while laying the foundation for long-term growth, leveraging its Integrated Value Chain, Feedstock Flexibility, and decades of accumulated expertise, technology, and innovation in the petrochemical industry. GC is also further enhancing the efficiency and competitiveness of its core businesses to provide a strong foundation for navigating uncertainty, while accelerating its Specialty and Green & Bio businesses to build a higher-value, lower-carbon portfolio aligned with the future direction of the industry.

Despite continued uncertainty in the global economy—from geopolitical conflicts and the global energy crisis to supply chain volatility, inflation, and trade measures, GC’s years of preparation and consistent strategic execution have enabled the company to maintain business resilience. In the second quarter of 2026, GC recorded Adjusted EBITDA of THB 26.932 billion, up 81% quarter-on-quarter, and net profit of THB 12.208 billion. For the first half of 2026, Adjusted EBITDA stood at THB 41.777 billion, with net profit of THB 15.440 billion.

Mr. Narongsak Jivakanun, Chief Executive Officer of GC, said, “Volatility and uncertainty will remain part of the business environment in the years ahead. What matters is not simply responding to immediate situations, but preparing the organization to be resilient, anticipating shifts in the industry, and continuously taking action to strengthen our readiness. Strength from within will enable us to navigate whatever volatility may arise in the future. GC has consistently built the foundations that matter—from our Integrated Value Chain and Feedstock Flexibility to digital technology, innovation, and partnerships. Today, these capabilities are coming together as one, forming an important foundation for GC’s new chapter of growth.”

Remain Standing Firm on a Resilient Business Foundation

One of the key factors supporting GC’s resilience is its Integrated Value Chain, which connects businesses from upstream to downstream, combined with the flexibility to utilize both gas- and liquid-based feedstocks. This strengthens feedstock security while allowing the company to optimize costs according to market conditions. GC’s project to import ethane from the United States remains on track, with imports scheduled to begin in 2029.

At the same time, GC continues to enhance efficiency across the organization through Holistic Optimization, covering feedstock procurement, supply chain management, production, sales, marketing, and work processes. Digital technology is being deployed through the “Digital 3 Smarts” strategy comprising Smart Plant, Smart Sales & Marketing, and Smart Work Process, helping improve efficiency and continuously strengthen competitiveness.

These initiatives are delivering tangible results through additional revenue generation and cost reductions. In 2025, GC generated more than THB 7 billion in benefits, exceeding its target of THB 5.5 billion. For 2026, the company has set an additional revenue enhancement and cost reduction target of THB 4 billion, with implementation progressing according to plan.

GC is also maintaining disciplined financial management through Asset Monetization, capital management, and long-term debt restructuring to further strengthen its financial position and prepare the company for future growth.

Building on Existing Strengths to Create a New Chapter of Growth

For 2026–2030, GC is focused on strengthening the competitiveness of its existing businesses in every dimension while accelerating the development of new growth platforms. The company aims to rebalance its portfolio between Commodity and Specialty businesses from approximately 80:20 to 70:30 by 2030, increasing the contribution from higher-value businesses and creating a more resilient portfolio. GC will build on the strengths and expertise of each of its business groups as follows:

• Upstream and Intermediates Business: Build on the potential of the Biorefinery and study further integration between refining and petrochemicals.
• Olefins and Polyolefins Business: GC is conducting a feasibility study with SCGC on the establishment of a joint venture to enhance competitiveness. Should the joint venture proceed, it would become a leading olefins and polyolefins producer in ASEAN, supporting the security of downstream industries in Thailand and the region, with combined production capacity olefins and polyolefins ranking among the Top 10 globally. The feasibility study is expected to reach a conclusion toward the end of the third quarter of 2026.
• Specialty Business: Unlock the full potential of allnex as a key platform for expanding GC’s Specialty business.
• Green & Bio Business: Build on GC’s existing capabilities to move toward Bio Specialty.

These strategic initiatives will be implemented alongside Holistic Optimization, which will be expanded across the organization through Company-wide Enhancement, with the goal of delivering an additional USD 300 million in annual EBITDA Uplift by 2030.

As GC moves into its next phase of growth, Map Ta Phut will serve as one of the company’s key platforms for supporting future industrial growth in the Asia-Pacific region, alongside GC’s growth platforms in other regions worldwide.

allnex to Drive Growth in the Specialty Business

For the Specialty business, GC is focused on unlocking the full potential of allnex. During the first half of 2026, allnex delivered performance ahead of plan, reflecting progress in the execution of its strategy to enhance competitiveness and drive long-term growth. This includes cost restructuring, with studies underway to prepare for cost reductions and business efficiency improvements across all dimensions; portfolio management focused on technologies where allnex holds leadership positions and strong competitive advantages; and expansion into businesses and technologies that can build on its existing strengths.

In Thailand, allnex has announced an expansion of Sagging Control Agent (SCA) production capacity at Map Ta Phut, Rayong. The facility will become allnex’s first SCA production base outside Europe, bringing technology and manufacturing capabilities to Thailand.

The expansion will help create an ecosystem closer to customers in the Asia-Pacific region, respond to growing market demand, diversify allnex’s manufacturing footprint, and reduce supply chain risks for customers. SCA is an advanced innovation designed to prevent paint and coatings from sagging during application, making it an important technology for the automotive industry.

At the same time, allnex continues to expand its manufacturing footprint across Asia. Its China Hub in Jiaxing, China—its largest manufacturing site globally—has delivered growth and performance ahead of expectations. Meanwhile, its India Hub in Mahad, India, is undergoing capacity expansion.

Advancing Green & Bio from Capabilities Built over More Than a Decade

Another key growth platform is Green & Bio, an area in which GC has been a pioneer and has built capabilities for more than a decade. Today, the company has established comprehensive capabilities spanning feedstocks, technology, innovation, and supply chains, enabling a broad product portfolio ranging from biofuels, bio-chemicals, and bioplastics to oleochemicals and high-quality recycled plastics.

These capabilities have already been translated into tangible investments and businesses. Examples include NatureWorks, which recently opened a new fully integrated PLA biopolymer manufacturing facility at the Nakhon Sawan Biocomplex, linking Thailand’s agricultural feedstocks with advanced biotechnology to create higher-value products.

GC’s portfolio also includes GGC and Emery Oleochemicals, which build on plant-based chemical expertise to develop higher-value products, as well as ENVICCO, Thailand’s first producer of high-quality recycled plastic resins and food-contact-grade recycled resins, which is now operating at full production capacity.

Building on this foundation, GC is pursuing new opportunities in Bio Specialty through high-growth-potential innovations aimed at developing Sustainable Solutions that address customers’ needs while enabling industries to become more efficient and environmentally friendly.

MTP Transformation: Elevating Map Ta Phut into a Growth Platform for Asia-Pacific Industry

Looking ahead, GC sees Map Ta Phut as an important platform for expanding into higher-value businesses under its MTP Transformation strategy. Map Ta Phut combines well-established infrastructure and networks with a comprehensive business base spanning petrochemicals, Specialty Chemicals, and Green & Bio.

These strengths create opportunities for GC to connect its capabilities with leading technologies and global partners, address demand from end markets, and help strengthen Thailand’s role in the future chemical industry across the Asia-Pacific region.

Mr. Narongsak added, “GC’s new chapter of growth will not be driven by any single project. It will come from bringing together the strengths we already have—from our existing businesses, technology and innovation, and the capabilities of our people, to our global network and business partners. We are taking concrete action across each of these areas in line with our strategic direction, so that GC remains strong today while becoming even better prepared to grow in the future.”

GC StandOut Through INnovation: Turning Innovation into Action

One of the most important enablers of GC’s strategy is its people, who turn innovation into action under the concept of GC StandOut Through INnovation. The initiative promotes an open culture where employees are encouraged to think boldly and take action, translating ideas into tangible results. Over the course of just one year, employees across GC submitted more than 1,000 ideas and initiatives, collectively helping the organization enhance efficiency and reduce costs beyond its target.

Together, these efforts reflect GC’s approach of going beyond simply responding to change. The company is accelerating the conversion of its accumulated capabilities and competitiveness into opportunities for a new chapter of long-term growth.