ExxonMobil, after selling ESSO, will establish a new company to operate a finished lubricant business. - Chemical marketing business under the brand “ExxonMobil “

Esso (Thailand) Public Company Limited, or ESSO, informed the Stock Exchange of Thailand that on January 11, 2566, ExxonMobil signed a share purchase agreement with Bangchak Corporation Public Company Limited (BCP) to sell all of its traded shares in the company to Bangchak, subject to the terms and conditions stipulated in the share purchase agreement.

This share purchase transaction will not include the acquisition of the finished lubricant business under the ExxonMobil brand and OEM (Original Equipment Manufacturer) (finished lubricant business) and the chemical marketing business under the ExxonMobil brand (Business Chemical Marketing) by ExxonMobil has stated that ExxonMobil intends to establish a new company to conduct this business in Thailand.

ESSO states that the share purchase transaction is subject to the successful completion of various conditions. This includes obtaining approval from relevant government agencies (if any), such as the Ministry of Energy. The ExxonMobil Competition Commission expects the transaction to close in the second half of 2566. However, completion of the transaction could take up to 12 months.

Due to a Change in Control, Exxon Mobil Corporation will send ESSO a written notice of termination of the Trademark License Agreement, effective on the effective date. stock purchase contract and will enter into a contract to license the rights to the trademark without being the exclusive user. (Non-Exclusive Transitional Trademark License Agreement) with ESSO for a further period of 2 years from the date of success. This will allow the company to use the "ESSO" brand and other trademarks. limited for the fuel retail marketing business (including fuel marketing programs, loyalty programs, credit card programs) to facilitate the Company Will switch to new badge after successful date.

ESSO further informs that after the effective date of termination of the Trademark License Agreement, the Company will not be able to use any of Exxon Mobil Corporation's logos and trademarks, and any use of the "ESSO" logo after The completion date will be as set forth in the Non-Exclusive Trademark License Agreement. (Non-Exclusive Transitional Trademark License Agreement)

If the share purchase transaction is successful, Bangchak will be a major shareholder of the Company. Instead of ExxonMobil By holding shares in the company, 65.99 % of the total shares with voting rights of the company. which resulted in Bangchak Will have the duty to make a tender offer (tender offer) for all remaining common shares of the Company from other shareholders of the Company.