No. Company name and relationship Transaction (Unit: Million Baht) Characteristics and conditions 2023 2022 2021 1. PTT Public Company Limited (PTT) Relationship: Major shareholder of IRPC with 45.05% of shares - PTT executives on IRPC Board of Directors: Mr. Kris Imsang Mr. Chansak Chuenchom Ms. Peangpanor Boonklam Mr. Prasong Inthonnongphai - Sale of goods - Purchase of goods - Other income - Sales and admin expenses - Interest payables - Accounts receivable - Accounts payable - Other receivables 2,516 220,840 13 61 - 398 30,376 862 883 242,353 9 87 2 860 31,116 611 192 166,119 5 41 - 19 24,503 2,789 IRPC sold petroleum products and provided tank storage service to PTT. IRPC purchased crude oil and natural gas from PTT, and received compensation in the form of administrative fee for the purchase and sale of crude oil and products within PTT Group. IRPC received logistics compensation and personnel expenses from PTT. IRPC paid personnel expenses to PTT. IRPC paid interest on shortterm loan (ICBL) to PTT. 2. PTT Oil and Retail Business Plc. (PTTOR) Relationship: PTT Public Company Limited holds 75.00% of shares. - Sale of goods - Purchase of goods - Sales and admin expenses - Accounts receivable - Accounts payable 51,544 378 1 2,354 - 42,010 135 2 2,496 10 32,681 163 2 1,993 13 IRPC sold petroleum products to PTTOR. IRPC purchased petroleum products from PTTOR. IRPC’s subsidiaries paid royalties and marketing expenses for sale of goods and transportation cost to PTTOR. 3. Thaioil Public Company Limited (TOP) Relationship: PTT Public Company Limited holds 45.03% of shares. - Sale of goods - Service income - Trade in crude oil and feedstocks for legal reserves. - Purchase of goods - Other income - - - 142 - 550 - - - - - 42 571 34 3 IRPC sold petroleum products to PTTOR. IRPC provided fuel storage tank rental services to TOP. IRPC traded in crude and feedstocks for legal reserve with TOP. IRPC purchased petroleum products from TOP. IRPC received compensation for the cost of products from TOP. 4. Thai Paraxylene Co., Ltd. (TPX) Relationship: Thaioil Public Company Limited holds 99.99% of shares. - Sale of goods - Purchase of goods - Accounts receivable - Accounts payable - 2,244 - 59 - 1,419 6 - 445 1,400 - - IRPC sold aromatics products to TPX. IRPC purchased aromatics products from TPX. Connected Transactions For Fiscal 2023, IRPC and its subsidiaries engaged in key connected transactions with related companies or parties where conflict of interest may arise. These transactions were based on market price arm’s length, or, in the absence of market prices, the fair prices and conditions agreed upon. The relationship and connected transactions are described below: 272 Internal Control and Connected Transactions IRPC Public Company Limited
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