(Translation) No: PTTGC FNA 064/2012 November 6, 2012 Subject: Submission of the Interim Financial Statements for the three-month period and nine-month period ended September 30, 2012 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 the Interim Financial Statements of PTT Global Chemical Public Company Limited (the "Company") and its Subsidiaries for the three-month period and nine-month period ended September 30, 2012 and reviewed 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 three-month period ended September 30, 2012 We are pleased to submit the Interim Financial Statements for the three-month period and nine-month period ended September 30, 2012 of the Company and its Subsidiaries, which were audited by our external auditor, KPMG Phoomchai Audit Ltd., and were reviewed by the Company's Audit Committee (details as per Attachment 1 and 2). The Company and its subsidiaries was formed from 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 Interim Financial Statements represented the performance only for the three-month period and nine-month period ended September 30, 2012. However, for the Company's and its subsidiaries performance analysis purposes, the Company had prepared unaudited Pro-forma consolidated financial statements for quarter 3Q/2011, and hereby prepared management's discussion and analysis (details as per Attachment 3). In 3Q/2012 the Company and its subsidiaries had a net profit of 12,910 million Baht, increased 12,059 million Baht or went up 14.17 times from the previous quarter and increase 6,870 million Baht or 114% from 3Q/2011. The performance can be summarized as follows: according to the sluggish economy in Europe and the slowdown in global economy, the US Federal Reserve (FED) released a quantitative easing program (QE3). In addition, market concern over crude supply shortage from Middle East countries resulted in the continuous increase in Dubai crude price from the previous quarter. In 3Q/2012, Dubai crude averaged at 106 USD/BBL, and improved petroleum product spreads contributed to a market GRM of 5.94 USD/BBL, with stock gain net NRV of 3.74 USD/BBL and hedging gain of 0.02 USD/BBL, in total, accounting GRM was 9.71 USD/BBL. Aromatics business had market P2F of 243 USD/ton, with stock gain of 64 USD/ton. This was largely contributed from significantly improved BZ-condensate spread although PX-condensate spread decreased from 3Q/2011 and 2Q/2012. Table 1: Performance Summary of PTTGC and its Subsidiaries (Unit : Million Baht) Quarter % change 9 months ending % change 3/2012 3/2011 2/2012 YoY QoQ 3Q/2012 3/2011 YoY Sales 145,309 137,289 139,241 6% 4% 418,216 374,188 12% EBITDA 18,282 12,183 6,705 50% 173% 39,598 45,822 (14%) EBITDA Margin (%) 13% 9% 5% 42% 161% 9% 12% (23%) Net profit 12,910 6,040 851 114% 1,417% 23,614 25,980 (9%) EPS 2.86 1.34 0.90 113% 218% 5.24 5.77 (9%) Adj. EBITDA 15,007 12,102 12,892 24% 16% 39,119 40,066 (2%) Adj. EBITDA Margin (%) 10% 9% 9% 17% 12% 9% 10% (13%) Note* Adjusted EBITDA refers to EBITDA excluding impact of inventory value (excludes Inventory and NRV) As for olefins and olefins derivatives business, increased utilization rate and sales volume outperformed weakened prices in 3Q/2012. HDPE price was 1,343 USD/Ton, decreased 4% from 3Q/2011 and 2% from 2Q/2012. The Company and its subsidiaries had EBITDA of 18,282 million Baht, increased 6,099 million Baht or 50% from 3Q/2011, and went up 11,577 million Baht or 1.73 times from the previous quarter. EBITDA margin for the period was 13%. However, adjusted EBITDA margin was 15,007 million Baht with an adjusted EBITDA margin of 10%. Although there was a slowdown in global economy coupled with the adjustment in natural gas pricing formula, the Company's operational excellence, fully integrated petrochemical and refinery operations, diversified product portfolio, strong cost structure had contributed to a high adjusted EBITDA margin for the first nine months of 2012 of 9% and 10% for 9M/2011. In addition, major events occurred in 3Q/2012 are as follows: 1. The adjustment of the pricing formula in the purchase agreements of petrochemical natural gas feedstock between the Company and PTT Public Company Limited, effective since August 1, 2012. The new formula resulted in the increase of petrochemical feedstock by USD 40 per metric ton or by 8%. 2. The payment of interim dividend for the first 6 months period of 2012 (January 1, 2012 to June 30, 2012) to the Company's shareholders at the rate of Baht 0.95 per share amounting to approximately Baht 4,282 million or 40% of the net profit for the first 6 months period of 2012. The dividend was paid on September 17, 2012. 3. The amalgamation between PTTUT and IPT to set up a new company to operate the power business including investment and development for future power business. It was expected that the amalgamation process would be completed in January 2013 4. On September 19, 2012 the Company has completed its offering of unsecured and unsubordinated notes to foreign institutional investors for the total amount of USD 1,000 million, carrying a coupon of 4.25% p.a., with a tenor of 10 years. The notes have been rated BBB by Standard and Poor's and Baa2 by Moody's. 5. The entire business transfer from EA to TOC Glycol. Both EA and TOCGC are wholly-owned subsidiaries of PTTGC. the entire business transfer from EA to TOCGC is effective under the law and PTTGC would proceed with the dissolution of EA. Please be informed accordingly. Sincerely yours, (Patiparn Sukorndhaman) Executive Vice President - Finance and Accounting 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. 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