The use of capital received from the capital increase

•T I PCO •

Bor Hor. 035/2017 24th July 2017

Subject The use of capital received from the capital increase

To The President

The Stock Exchange of Thailand

Reference to issuance of wan-ants of Tipco Asphalt Public Company Limited ("the Company") allocated to executive directors and/or employees, ESOP-W3 of 1,182,600 units and ESOP-W4 of 1,178,300 units.

The Company received capital from exercise of wan-ants ESOP-W3 of Baht 2,239,132 on 3151 March 2017, ESOP-W3 and ESOP-W4 of Baht 31,556,160 on 30th June 2017 in aggregate. The total capital was Baht 33,795,292 on 30th June 2017 and used for the Company 's working capital and expenditures .

Please be informed accordingly. Sincerely yours,

Chaiwat Srivalwat Managing Director

Office : Tipco Tower, 11811 Rama 6 Rd.,Samsen Nai,Phayathai,Bangkok 10400,Thailand. Tel:+66 (O) 2273·6000 Fax: +66 (O) 2273·6030, (O) 2271·1601 www.tipcoasphalt.com Factory : 259 Moo 8 Soi Ard.12032,Mittrapap Rd., Naklang, Soongnern District, Nakhon Ratchasima 30380 Tel:+66 (0) 4433·5495 9 Fax: +66 (0) 4433-5495 9

: 271 Moo 15 Phitsanulok Bangragum Rd.,Bangragum, Phitsanulok 65140 Tel: +66 (0) 5537 1461 2 Fax: +66 (0) 5537-1461·2 Ext. 360

: 61 Moo 5 Soi Thaisilo,Suksawad Rd., Bangchak, Phrapradaeng, Samutprakarn 10130 Tel: +66 (0) 2817-5111·5 Fax:+66 (0) 2817·5117

: 90 Moo 5 North Nongchoompo l,Khaoyoy,Phetc haburi76140 Tel:+66 (0) 2273·6000 Ext. 5502 4 Fax: +66 (0) 2273-6000 Ext. 5501