which are the market share in oil business of 25%, the Max Card membership of 30 million members and Punthai Coffee of 5,000 branches

PTG Energy PCL (PTG and The Company) does the 2024 strategic plans by upgrading Oil and Non-Oil businesses under Max World to serve all the demands of customers to have the life opportunity that is “being well and being contentedness” in all moments of life and to have the sustainable growths as well as to expand all businesses to achieve the 2027 plans which are to have the market share in oil business of more than 25%, the PT Max Card and PT Max Card Plus membership of more than 30 million members and Punthai coffee shops of 5,000 branches. In 2023, it had the best performance in which the sales of fuel were increased by 12.1%, accounted for 5,960 million liters. It’s the new record since the establishment of company and it is the first time that the Company has the market share in oil industry through service stations of >20%.

Mr. Pitak Ratchakitprakarn, President and Chief Executive Officer of PTG Energy PCL or PTG revealed in “PTG Business Outlook 2024: Drive for Tomorrow, The Dynamism of Speed” that in 2023, it’s another year that the business performance under PTG group strongly grew. In 2023, as evidence, the overall volume of fuel in the service stations was slightly increased only by 2.2% in Thailand but the volume of fuel sold by PTG’s service stations was significantly increased by 13.3%, which’s 6 times higher than the growth of the country. It grew in all channels by 12.1% accounted for 5,690 million liters, which is the highest record that the Company has since the Company’s established. In addition, it is the first time that the Company had the market share in oil industry through service stations of more than 20%.

For Non-Oil business, the revenue from sales and services was increased by 44.4%, accounted for THB 13,688 million. The growth of LPG business had the highest record of 634 million liters, increased by 27.7% and the expansion of LPG stations for household was increased to 332 stations. The sales volume was increased by 48.0%. For Punthai Coffee business, the revenue was increased by 54.1% due to the continual increase of branches. As of Dec 31st, 2023, the number of branches was 882 branches which’s increased by 371 branches from last year. Also, there were the growth of Same-Store-Sales due to the loyalty of the customers holding PT Max Card and PT Max Card Plus. In 2023, the Company had the total branches for Non-Oil business of 2,087 branches, which’s increased by 561 branches or grew by 36.8%. Also, the gross profit of Non-Oil business was accounted for 21.2% as planned.

At the same time, the Company has developed the products and services to serve the customers’ demands and needs such as the development of platform solution, known as Max Enterprise Connect. It is the platform to manage the cost of fuels and personnel for all entrepreneurs and logistic companies regardless of the Company size. It makes the cost management for logistics to have the maximum efficiency. As a result, the Company received 2023 National Innovation Award from National Innovation Agency or NIA and also managed the business with the continual sustainable development including environment in which the business operation is related with the green energy such as EV Charging stations, called Elex by GPAT PT, Refuse Derived Fuel (RDF) or social dimension by continuously doing volunteer camp projects known as PT Do It! Don’t Leave It! (Tum Jing Mai Ting Kan) as well as supporting the local ingredients from the communities. Therefore, the Company received the world awards for example, BEST ESG Responsible Executive Team Thailand 2023 from CFI.co (Capital Finance International), UK

In addition, the Company emphasize on employee retention which is the key of driving organization to meet the goals and missions that is “to connect everyone for having the life opportunity of being well and contentedness in all moments of life” through the “BEST” organizational value. The organization is driven by strategies and the mentioned values leading the Company to receive HR Asia Best Companies to Work for in Asia Award for 3 consecutive years from HR Asia magazine, Business Media International (BMI).

Mr. Pitak also mentioned that by 2027, the Company aims to have the market share of oil industry through service stations by more than 25% by using 3 strategies that are (1) Expansion & Renovation (2) Service Innovation (3) Data Optimization. Also, the Company aims to increase the membership of PT Max Card and PT Max Card Plus by more than 30 million members. For Punthai Coffee shop, it is planned to expand in form of Franchise more within and outside of gas service stations by 5,000 branches covering all areas in the country as well as expanding the business to overseas like Laos. Also, the Company plans to develop and seek for new businesses by taking the benefits from PTG’s ecosystem and serving the customers’ demands.

Mrs. Sukwasa Pooshutvanitshakul, Executive Vice President of PTG Energy PLC or PTG and Director of Punthai Coffee Company Limited mentioned that in 2024, Punthai Coffee shops will be growth with 3 strategies. First is to use data or database from Max Card and Max Card Plus to select areas for the business expansion of Punthai Coffee within and outside the gas service stations to be more accurate and locations for new branches to meet the target customers. Second is to develop products and introduce new products that are outstanding and unique from the competitors as well as to expand the market especially for the premium coffee and coffee made at home. Third is to manage the business together with enhancing ecosystem for the sustainable development, which is in line with the vision – to connect everyone for the life opportunity of “being well and contentedness” and to provide the social value as well as to drive Thai economy to have the sustainable growth.

For digital asset business, the Company received the licensed operation of digital asset business from Ministry of Finance. For digital asset business, the Company received the licensed operation of digital asset business from Ministry of Finance. (Maxbit) mentioned that the company received the licensed operation of digital asset business for 2 types, which are being a broker for cryptocurrency and for token digital with the effective date of November 10^th, 2023. The company foresees the opportunity in digital asset business, which is Non-Oil business and believes that Maxbit can utilize the company’s strength in which there are more than 21.5 million members of Max Card and 1.5 million touchpoints of Max Me to be the customers of Maxbit. The main target customers are the customers at the working ages and who are interested in investment.

Based on the 2024 goal, it is to have 350,000 trading members and have the vision which is to have the industrial revolution of cryptocurrency services in Thailand based on the common understanding and creativity. The company is confident that the market share in 2024 will be growth by 9% - 10% and the company becomes the number 2 of digital asset broker market in Thailand. Also, the company believes that Maxbit can generate the significant long-term returns to PTG.

Mr. Rangsun Puangprang, Executive Vice President of PTG Energy PCL or PTG mentioned that the Company expanded the strategic business in the past year in order to support the ecosystem business model of PTG or Max World to be stronger such as 3rd party transportation and logistics business in form of online platform though Max Ventures Company Limited, which is PTG’s subsidiary, investing in Three Sixty Supply Chain Company Limited, who provides “360TRUCK” services. The gross merchandise volume (GMV) in 2023 was higher than THB 1,100 million. Also, the Company has invested in second-handed truck leasing business by acquiring new ordinary shares of Paisan Capital Company Limited, accounted for THB 825 million or 33.33% for the growth of business opportunity and business expansion of the Company’s ecosystem business model.

In addition, the Company works with Electricity Generating Authority of Thailand (EGAT) to install EV charging stations within PT gas service stations under the name of Elex by EGAT PT. At the present, there were 49 EV charging stations - Elex by EGAT PT installed. It plans to be expanded to 262 stations in 2024 and 712 stations in 2027 to cover all important areas around Thailand because there are lot of positive feedbacks from customers due to the stability of EV chargers and other services that customer can get like Punthai Coffee or Max Mart while waiting for the charging too.

For the solar rooftop project, the Company invested through PTG Green Energy Company Limited (PTGGE) by selling the electricity in form of private PPA. As of today, the solar rooftops were installed for 37 stations. It helps to save energy for more than 1 million units per year resulting in reducing the electricity consumption of the stations by 15% and decreasing the greenhouse gas by more than 500 tons carbon dioxide equivalent per year. In 2023, PTGGE plans the 5-year investment capital of THB 1,000 million for expanding the portfolio of solar rooftop with private PPA by 28.67 MW in more than 1,200 stations. The objective is to decrease the electricity consumption by more than 33 million units per year which helps to reduce the greenhouse gas of more than 13,420 tons, carbon dioxide equivalent per year or equivalent to the reforestation of 2.9 million trees.

For the sustainable development of environment, the Company signed the agreement on subscripting new ordinary stocks of Thai Paiboon Equipment Co., LTD. The first subscription was 10%, accounted for the investment amount of THB 100 million. In the future, PTG has the right of subscription the new ordinary shares with the shareholding of 33.33%, accounted for the total investment amount of THB 400 million in order to invest in the waste-to-energy and RDF business. The strengths of Thai Paiboon are to have the RDF production of 1,500 tons per day, to have more than 20 agreements with local agencies or to have the solid waste of more than 7 million tons, expecting to reduce the greenhouse gas by more than 5 million tons per year, which is equivalent to the reforestation of 555 million trees.

สFor the 2024 business overview, the Company forecasts that the growth of fuel sales will be around 10-12% based the following positive factors. First is Thai economy especially for the expansion of private sectors’ consumption. Second is the continual growth of tourism sector. Third is the Company’s internal factor that is to upgrade the services to meet the customers’ needs more and increase the customer loyalty of PT Max Card and Max Card Plus members

Besides, the Company aims to expand the service stations in 2024 to be 2,251 stations and to improve or renovate the service stations to be more modern and serve more customers’ demands so that the customers can approach the moment of “being well and contentedness” under the Company’s ecosystem as well.

For Non-Oil business, the growth is expected to be 40-50%. The growth of LPG sales is planned around 30-40% based on the following growths. First is Auto LPG. It aims to upgrade the experiences for customers through services and marketing promotions. Also, it aims to maintain the no.1 market share though Taxi Transform and Auto Transform projects as well as to implement the strategic marketing plans through the membership of PT Max Card in order to maintain and increase the customers. Second is LPG for household and industrial customers. It aims to maintain the existing customers and seek for the new customers. Also, it plans to implement the marketing promotions and increase brand awareness of PT to customers. Third is the expansion of service stations. Auto LPG and Gas Shop stations are expected to increase to 788 stations from 573 stations the Company had in 2023.

For Punthai Coffee business, the Company focuses on the continual increase in branches at the potential locations such as city centers, central business district (CBD), districts in other provinces, department stores or shopping malls, government offices, hospital and university. As of today, there are more than 900 branches of Punthai Coffee. The goal is to have more 400 branches in the potential districts around Thailand. As a result, the Company aims to have more than 1,300 branches in 2024 covering all areas in Thailand.

For other businesses under Max World, the Company plans to continuously increase branches and touchpoints. In 2024, the target branch of other Non-Oil is around 961 touchpoints, which is increased by 329 touchpoints. The main targets are (1) EV Charging stations of Elex by EGAT PT in order to support the growth of electronic cars in the futures, (2) Auto repair services of Autobacs, (3) Convenience stores of Max Mart and etc.