(Translation) No: 01-131/2012 February 17, 2012 Subject: Submission of the Financial Statements for the period 19 October 2011 (amalgamation date) to 31 December 2011 and the Management's Discussion and Analysis (MD&A) of PTT Global Chemical Public Company Limited and its Subsidiaries To: President, The Stock Exchange of Thailand Attachment: 1. A copy of audited financial statements of PTT Global Chemical Public Company Limited (the "Company") and its Subsidiaries for the period 19 October 2011 (amalgamation date) to 31 December 2011 and audited report of certified public accountant, with a copy of English translation 2. Company's and its Subsidiaries performance report (Form F45-3) 3. Management's Discussion and Analysis (MD&A) and operating results of the Company and its Subsidiaries for the fiscal year 2011 We are pleased to submit audited financial statements for the period 19 October 2011 (amalgamation date) to 31 December 2011 of the Company and its Subsidiaries, which were audited by our external auditor, KPMG Phoomchai Audit Ltd. , were reviewed by the Company's Audit Committee, and were considered by Company's Board of Directors (details as per Attachment 1 and 2). The Company and its subsidiaries was formed by the amalgamation between PTT Chemical Public Company Limited and PTT Aromatics and Refining Public Company Limited and registered as a new entity on October 19, 2011. As a result, the audited financial statements represented the performance only for the period of October 19, 2011 to December 31, 2011. However, for the Company's and its subsidiaries performance analysis purpose, the Company prepared unaudited Pro-forma consolidated financial statements for year 2011 in comparison with year 2010, and hereby prepared management's discussion and analysis (details as per Attachment 3). For the period of October 19, 2011 to December 31, 2011, the Company and its subsidiaries had revenue from sales of Baht 104,433 million and net profit of Baht 2,113 million with the summary of Company's and its subsidiaries performance as follows. October 19th-December 31st, 2011 (Million Baht) % Revenue from Sales 104,433 100% EBITDA 7,068 7% Net Profit 2,113 2% EPS (Baht) 0.47 In 4Q/11 world economy remained vulnerable from the Euro zone public debt crisis and Chinese monetary policy, resulting in a slight decline in Dubai crude oil price compared to 3Q/11 while the demand for petroleum and petrochemical products remained low as buyers were concerned about the direction of world economy, therefore, managed to purchase products to match the demand only and had not built up their inventory to prepare for year-end holidays in 2011. As a result, spreads of products over feedstock, for instance, spread of gasoline to Dubai, and paraxylene and benzene to Condenstate declined, and spread of HDPE to Naphtha remained low. Furthermore, flooding in Thailand in 4Q/11 had lowered the demand for electricity usage and resulted in lower level of ethane gas received from the supplier. The above reasons had caused certain impact on the Company's overall performance. The Company's and its subsidiaries FY 2011 unaudited Pro-forma consolidated financial statements recorded net profit of Baht 30,033 million, increased by 84% from FY 2010 with net profit of Baht 16,320 million with the summary as follows: (Unit: Million Baht) FY 2011 FY 2010 + (-) Revenue from Sales 500,305 375,304 33% EBITDA 54,422 34,877 56% Net Profit 30,033 16,320 84% EPS (Baht) 6.66 3.65 82% The primary reason that contributed to the Company's improved performance was the increase in olefins capacity of 1.0 million tons/year, resulting in the capacity increase from 1.88 million ton/year in 2010 to 2.88 million ton/year in 2011 or by 53%. In addition, Dubai crude oil price increased by 28 USD/barrel. In 2011, Dubai crude oil price was averaged at 106 USD/barrel, increasing from 78 USD/barrel in 2010. Spreads of Jet/Kero to Dubai and Diesel to Dubai increased by 58% and 64%, respectively. In addition, spreads of aromatics products to Condensate also moved up according to increasing feedstock price and strong demand but tight supply. As a result, spread of PX to Condensate increased by 57%. As for Olefins market, naphtha price (MOPS) increased by 29% to 922 USD/barrel, as a result, average prices of ethylene (SEA) and HDPE (SEA) moved up as a cost-push effect. Ethylene price increased to 1,187 USD/ton or increased by 10% from 2010 and HDPE (SEA) increased to 1,373 USD/ton or increased by 12% from 2010. However, capacity additions of Olefins and HDPE (SEA) remained high resulting in a narrow spread of HDPE (SEA) to Naphtha (MOPS) of 451 USD/ton, decreased by 8% Please be informed accordingly. Sincerely yours, (Veerasak Kositpaisal) Chief Executive Officer Corporate Finance and Investor Relations Tel: 02 265 8400 ext. 8421, 8712, 8713, 8714, 8327 ______________________________________________________________________ This announcement was prepared and disseminated by listed company or issuer through the electronic system which is provided for the purpose of dissemination of the information and related documents of listed company or issuer to the Stock Exchange of Thailand only. The Stock Exchange of Thailand has no responsibility for the correctness and completeness of any statements, figures, reports or opinions contained in this announcement, and has no liability for any losses and damages in any cases. In case you have any inquiries or clarification regarding this announcement, please directly contact listed company or issuer who made this announcement.