Relationship with Businesses of the Major Shareholder The Company’s major shareholder is PTT Public Company Limited (PTT), a fully-integrated petroleum and petrochemical business operator with upstream to downstream supply chain through PTT’s own and others’ business through its subsidiaries, namely, petroleum exploration and production, oil refining, and petrochemical businesses. Currently, PTT is the major shareholder of Thailand’s three refineries, comprising PTT Global Chemical Public Company Limited (45.18%), Thai Oil Public Company Limited (45.03%), and IRPC PublicCompany Limited (45.05%). In petroleum and petrochemical business operations, IRPC has transactions and cooperates with PTT and its subsidiaries. For example, IRPC purchases most crude oil through PTT for efficiency enhancement and cost reduction, manages oil and/or product price hedging through PTT, and receives and provides financial assistance for mutual liquidity management. In addition, IRPC has transactions associated with the trade in feedstocks, petroleum products and petrochemical products, with PTT Group of companies. Shareholder Top 10 Shareholders List of the top 10 shareholders of the Company as of the book closing date September 8, 2021, are as follows: Notes: (1) PTT Public Company Limited as a major shareholder of the Company took part in formulating the Company’s management and operating policies. which have been approved by the Board of Directors. As of December 31, 2021, there are 4 directors or executives of PTT Public Company Limited out of the total 14 directors of the Company. (2) Thai NVDR Company Limited is a subsidiary of the Stock Exchange of Thailand, which operates business by issuing Non-Voting Depository Receipt (NVDR) securities listed on the Stock Exchange of Thailand. Such securities are for sale to investors and the proceeds from the sale of NVDR are then invested in Thai underlying securities that are listed on the Stock Exchange. Investors who are NVDR holders are entitled to benefits, such as dividends, rights to subscribe to new shares just like shareholders of a listed company, but do not have voting rights at the shareholders’ meeting. To learn more about investors in Thai NVDR Co., Ltd., go to: www.set.or.th Number Shareholder Number of shares Shareholding (per cent) 1. PTT Public Company Limited (1) 9,206,674,600 45.05 2. Thai NVDR Company Limited (2) 1,574,372,943 7.70 3. Siam Management Holding Company Limited 613,020,000 3.00 4. Social Security Office 492,786,300 2.41 5. SOUTH EAST ASIA UK (TYPE C) NOMINEES LIMITED 367,120,574 1.80 6. STATE STREET EUROPE LIMITED 184,066,020 0.90 7. Mr. Suphot Sapthaweechaikul 137,000,000 0.67 8. N.C.B.TRUST LIMITED-POLUNIN DEVELOPING COUNTRIES FUND, LLC 133,610,493 0.65 9. Mr. Surachai Leelathanamongkol 123,297,700 0.60 10. Mr. Worapong Asawanives 88,889,200 0.44 99 Structure and Business Operations of IRPC IRPC PUBLIC COMPANY LIMITED
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