ESSO transfers lubricant business to “Exxon Mobil Marketing” worth 535.48 million baht.

Esso (Thailand) Public Company Limited, or ESSO, informed the Stock Exchange of Thailand on April 18, 2566, that, as previously notified to the Stock Exchange on January 12, 66, regarding the share purchase agreement between ExxonMobil Asia Holdings Pte Ltd (ExxonMobil) and Bangchak Corporation Public Company Limited for the purchase of shares in the company, this transaction excludes the acquisition of activities related to finished lubricant and OEM businesses under the ExxonMobil brand and activities related to the marketing of chemical products under the ExxonMobil brand.

ExxonMobil has stated that ExxonMobil intends to establish a new company to engage in activities related to the finished lubricant business and activities related to the chemicals marketing business under the ExxonMobil brand in the country. Corporation (EMC) will send a notice of termination of the trademark license agreement to the company.

The company informs that on January 13, 2566, the company received a notice of termination of the trademark license contract from EMC. The termination of the contract will be effective upon completion of the share purchase transaction, which will result in The Company is no longer able to carry out activities related to the finished lubricant business and activities related to the marketing of chemicals under the ExxonMobil brand.

At the Board of Directors' meeting No. 5/2566 on April 17, 2566, it was resolved to approve the company to enter into a transaction regarding the transfer of activities related to the finished lubricant business and activities related to the chemical marketing business under the ExxonMobil brand with ExxonMobil Marketing (Thailand) Co., Ltd. (EMMTL)

Incidentally, the value of transactions related to the transfer of activities related to the finished lubricant business and activities related to the chemical marketing business under the ExxonMobil brand that must be included in calculating the transaction size will be equal to the sum of

1. Compensation related to the transfer of activities related to the finished lubricant business. and the chemical marketing business under the ExxonMobil brand consists of

A. Compensation for winding down activities related to the finished lubricant business and chemical marketing business under the ExxonMobil brand in the amount of 150 million baht.

B. Compensation based on the period of time during which no activities related to the finished lubricant business were performed. and the business of marketing chemicals under the ExxonMobil brand (Transition Time: the date of the transition) until the effective date of termination of the contract for the use of trademark rights. It is expected that the transfer date will be July 31, 66 and the termination of the trademark rights contract will be effective on the date that the share purchase transaction is completed.

However, the termination of the contract for the use of trademark rights It may take effect on another day. EMC must send a new contract termination letter to the company not less than 6 months and the contract termination will take effect no earlier than February 28, 67. In this case, the value Compensation according to the transition period is 385 million baht.

2. The value of related assets used in carrying out activities related to the finished lubricant business and the chemical marketing business under the ExxonMobil and EMMTL brands will be purchased from the company that must be included in the calculation of the items, amounting to 485,000 baht.