Gulf Energy Development: Notification of Allocation of Company’s Registered Unsubordinated and Unsecured Debentures with Representative of Debenture Holders Worth 35,000 Million Baht

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– Translation –

Ref: CS28/2022

August 18, 2022

Subject: Notification of the allocation of the company’s registered unsubordinated and unsecured debentures with a representative of the holders of debentures with a value of 35,000 million baht

To: President

The Stock Exchange of Thailand

Gulf Energy Development Public Company Limited (the “Company”) wishes to notify the Stock Exchange of Thailand that in August 2022, the Company has issued registered unsubordinated and unsecured debentures with representative debenture holders with an aggregate value of THB 35 billion. The debentures were split into 2 separate offerings, the first worth THB 11,000 million placed with institutional and high net worth investors and the second worth THB 24,000 million placed with the general public.

The debentures offered to institutional and high net worth investors worth THB 11,000 million were split into 3 tranches, namely 3-year, 5-year and 10-year debentures with an average fixed coupon rate of 3 .57% and an average term rate of 5.1 years. The subscription period for the debentures was between August 2 and August 4, 2022 and the issue date was August 5, 2022. The publicly offered debentures worth THB 24,000 million were allotted in a series of 2 tranches, namely, 4-year debentures with a fixed coupon rate of 3.50% per annum and 7-year debentures with a fixed coupon rate of 3.90% per annum. The subscription period for the debentures was between August 15 and 17, 2022 and the issue date was August 18, 2022. The company offered debentures to the general public through Krungthai’s “Pao Tang” application. Bank Public Company Limited and through the co-lead arrangers. of 9 financial institutions including Bangkok Bank Public Company Limited, Bank of Ayudhya Public Company Limited, KASIKORNBANK Public Company Limited, Siam Commercial Bank Public Company Limited, CIMB Thai Bank Public Company Limited, TMBThanachart Bank Public Company Limited, United Overseas Bank (Thai) Public Company Limited, Kiatnakin Phatra Securities Public Company Limited and Maybank Securities (Thailand) Public Company Limited. The Company has been assigned a corporate rating of “A” with a “stable” outlook and the debentures were assigned an “A-” rating by TRIS Rating Company Limited on June 21, 2022.

The Company believes that the support of investors in the debenture offerings demonstrates confidence in the strong operating performance of the Company and the solid and continued growth of the Group’s business, and plans to use the proceeds of the offerings to repay the loans of the financial institutions and as working capital for business expansions, both domestically and internationally, to grow its business sustainably in the future.

Cordially

Gulf Energy Development Public Company Limited

-Sign-

(Ms Yupapin Wangviwat)

Financial director

Gulf Energy Development

11e Floor, Mr. Thai Tower, All Seasons Place,

Tel: +66 2080 4499

Public limited liability company

87 Wireless Road, Lumpini, Pathumwan,

Fax: +66 2080 4455

Bangkok 10330, Thailand

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