PTT Global Chemical Public Company Limited and its Subsidiaries For the year ended 31 December 2023 PTT Global Chemical Public Company Limited and its Subsidiaries Notes to the financial statements For the year ended 31 December 2023 37 Product Spread Swap Agreements The Company has entered into many petrochemical product margin spread swap agreements with a related party to hedge the Company’s petrochemical margin. The floating amount of the petrochemical margin (calculated margin spread based on the key markets petrochemical products, which are Paraxylene, Benzene and other products against the Naphtha price) is swapped for a fixed amount of the petrochemical margin for a fixed quantity per month. Under the agreements, the Company shall receive or make payment of the product spread difference according to terms and conditions stipulated in the agreements. Sales and Purchase Aromatics Product Agreements The Company has entered into many raw material and product sales and purchase agreements with certain related parties. The sales and purchase prices of raw material and product are based on the prices specified in the agreements. These agreements are for the periods from 1 year to 1 years 6 months, commencing from the effective date as specified in each agreement. The agreements will expire from March 2024 to December 2024. Other agreements are automatically renewed except in the event of a cancellation through written notice by each party. Lending and Borrowing Agreements The Company has unsecured short-term lending agreements for the period of 3 years through Liquidity Management System (“LMS”) with 5 related parties with the credit facilities between Baht 20 million to Baht 6,000 million. These loans bear interest based on market rates referenced to BIBOR O/N plus an interest rate spread. The Company has a secured long-term lending agreement for the period of 7 years with a related party with a credit facility of USD 7.90 million. This loan bears interest at a fixed rate. The Company has an unsecured long-term lending agreement for the period of 4 years minus 6 days with a related party with the credit facility of EUR 2,321 million. This loan bears interest at the fixed rate. The Company’s subsidiary has unsecured short-term lending agreements for the period of 11 months with a related party with the credit facilities of USD 8.5 million. This loan bear interest based on market rate referenced to SOFR plus interest rate spread. The Company has unsecured long-term lending agreements for the period of 7 years with a related party with the credit facilities of Baht 615.75 million. This loan bear interest at the fixed rate. The Company has unsecured long-term lending agreements for the period of 1 year with a related party with the credit facilities of EUR 20 million. This loan bear interest at the fixed rate. The Company has unsecured long-term lending agreements for the period of 6 years 6 months with a related party with the credit facilities of Baht 259 million. The loan bear interest based on market rate referenced to THOR plus interest rate spread. The Company has unsecured short-term borrowing agreements for the period of 3 years through LMS with 5 related parties with the credit facility between Baht 50 million to Baht 1,200 million. These loans bear interest based on market rate referenced to BIBOR O/N minus interest rate spread. The Company has an unsecured long-term borrowing agreement for the period of 10 years with a related party with the credit facility of USD 690.75 million. This loan bears interest at the fixed rate. The Company has an unsecured long-term borrowing agreement for the period of 30 years with a related party with the credit facility of USD 541.25 million. This loan bears interest at the fixed rate. 281 PTT GLOBAL CHEMICAL PUBLIC COMPANY LIMITED Form 56-1 One Report 2023
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