Slides
Page 1
INTERIM RESULTS PRESENTATION AUGUST 31, 2026
Page 2
2 DISCLAIMER This presentation contains forward-looking statements that involve risks and uncertainties. These statements are generally indicated by the use of forward-looking terminology such as “believe”, “expect”, “anticipate”, “estimate”, “plan”, “project”, “target”, “may”, “will” or other similar words that express an indication of actions or results of actions that may or are expected to occur in the future. You should not place undue reliance on these forward- looking statements, which apply only as of the date of this presentation. These forward- looking statements are based on our own information and on information from other sources we believe to be reliable. Our actual results may be materially less favorable than those expressed or implied by these forward-looking statements which could affect the market price of our shares.
Page 3
BOARD AND MANAGEMENT 3 Mr. YANG Liqiang Vice President Mr. YANG Weisheng Vice President & Chief Engineer Mr. WANG Hua CFO & Secretary to the Board Mr. REN Lixin Executive Director & President
Page 4
AGENDA FINANCIAL RESULTS OPERATING RESULTS REMARKS BY THE PRESIDENT Q&A SESSION I II III IV 4
Page 5
FINANCIAL RESULTS Mr. WANG Hua CFO & Secretary to the Board I 5
Page 6
1. Record-High Operating Results for the Same Period 1H 2025 1H 2026 YoY Change Average Brent Crude Oil Futures (USD/bbl) 70.81 87.60 +23.7% Revenue (RMB Million) 1,450,021 1,527,491 +5.3% Net Profit Attributable to Owners of the Company (RMB Million) 85,185 103,936 +22.0% Basic EPS (RMB) 0.47 0.57 +22.0% 6 Note: Since January 2026, PetroChina has consolidated the financial statements of Xinjiang Oilfield Gas Storage Company Limited, Chongqing Xiangguosi Gas Storage Company Limited and Liaohe Oilfield (Panjin) Gas Storage Company Limited. In accordance with the accounting requirements for business combinations under common control, the relevant financial data for the comparative periods have been retrospectively adjusted.
Page 7
RMB Million 2. Disciplined, Targeted and Cost-Effective Investment Oil, Gas and New Energies Refining, Chemicals and New Materials Marketing Natural Gas Marketing Head Office and Others Capex Breakdown 7 1H 2026 Capex 75.02RMB Billion Capex on Oil, Gas and New Energies Business 54.41RMB Billion 64,325 75,015 2025 1H 2026 1H 16.6% 72.53% 22.08% 2.83% 1.99% 0.57%
Page 8
2,863,218 3,024,034 As of 31 Dec 2025 As of 30 June 2026 3. Sound Financial Position Total Assets RMB Million 5.6% Net Assets 1,830,550 1,848,132 As of 31 Dec 2025 As of 30 June 2026 11.2% 11.2% As of 31 Dec 2025 As of 30 June 2026 Debt-to-Capital Ratio 8 Net Cash Flow from Operating Activities 251.28RMB Billion 10.6% YoY Growth Free Cash Flow 138.82RMB Billion 23.6% YoY Growth RMB Million 1.0%
Page 9
4. Oil, Gas and New Energies RMB Million 13.3RMB Billion 100.45RMB Billion Operating profit YoY growth 9 87,151 1,244 -2,329 -5,943 20,325 100,448 1H 2025 Overseas Volume Domestic Volume Price Operating Expenses and Others 1H 2026
Page 10
5. Refining, Chemicals & New Materials — Refining Business 11.73RMB Billion Operating profit 10 RMB Million 2.07RMB Billion YoY growth 9,664 3,372 -1,479 176 11,733 1H 2025 Gross Profit Processing Volume Operating Expenses and Others 1H 2026
Page 11
6. Refining, Chemicals & New Materials — Chemicals Business 2.79RMB Billion Operating profit 1.4RMB Billion YoY growth 11 RMB Million 1,392 1,045 75 280 2,792 1H 2025 Sales Volume Gross Profit Operating Expenses and Others 1H 2026
Page 12
7. Marketing 11.36RMB Billion Operating profit Operating profit from international trading business 10.17 RMB Billion 1.19RMB Billion Operating profit from domestic marketing business 12 RMB Million 7,562 4,721 -1,592 672 11,363 1H 2025 1H 2026International Trading Domestic Refined Product Sales Volume LNG, New Energies and Others
Page 13
8. Natural Gas Marketing 24.09 RMB Billion Operating profit 5.46RMB Billion YoY growth 13 RMB Million 18,626 3,256 1,961 1H 2025 1H 2026 24,087 244 Operating Expenses and Others Wholesale Gross Profit City Gas and Pipeline Transportation Gross Profit
Page 14
9. Generous Return to Shareholders Interim Dividends Comparison 1. Applicable taxes included in the dividend per share and the total dividend payment 2. Annualized Dividend Yield=Interim Dividend Per Share/Closing Share Price as of 30 June 2026 × 2 The Board recommends RMB/Share 14 Note : Interim Dividend of RMB0.26per share • Interim dividend of RMB 0.26 per share, up by 18.2% YoY • Total dividend payment of 47.59 RMB Billion, record-high level for the same period in history • Dividend Payout Ratio of 45.8% • Annualized Dividend Yield of A-Shares: 6.0% H-Shares: 7.1% 0.22 0.26 1H 2025 1H 2026 18.2%
Page 15
II 15 OPERATING RESULTS Mr. YANG Weisheng Vice President & Chief Engineer
Page 16
Junggar Basin • Miao-1 (middle shallow layer): 362 t/d of oil, 520,000 m³/d of gas, a high-efficiency condensate gas reservoir was discovered in the Cretaceous Qingshuihe Formation in the southern margin slope area • Hudong-1 (deep layer): 640,000 m³/d of gas, a new gas-bearing structure was discovered in the Cretaceous Qingshuihe Formation in the southern margin foreland thrust belt Sichuan Basin Ordos Basin Songliao Basin 16 19 New Developments • Fengshen-1 (deep layer): 250,000 m³/d of gas, an important new discovery was made in the Cambrian Longwangmiao Formation in northwestern Sichuan, demonstrating a potential of 100 billion cubic meters of reserve increase • Permian-Triassic systems in central Sichuan (The middle-deep layers) achieved new progress again. It is expected to add 100 billion cubic meters of proved natural gas reserves, with cumulative proved reserves exceeding 500 billion cubic meters • Jiping-3H (shale gas) : 30,000 m³/d of gas, Suide-25H (shale gas) 20,000 m³/d of gas, demonstrating the exploration and development potential of marine-continental transitional facies shale gas in the Ordos Basin • Zhentan-1H (tight oil) 12 t/d of oil, demonstrating the continuous and contiguous oil-bearing prospect of tight oil in the Fuyu Formation in the Gulong deep sag area Hetao Basin • Buhe-1 (middle shallow layer) 35 t/d of oil, an important new discovery was made in the Neogene Wulantuke Formation in the Hetiao Basin 6 New Discoveries Tarim Basin • Fushen-101 (deep layer) 70.4 t/d of oil, the deep Fuman Ordovician Yingshan Formation (Members 3–4) is expected to achieve 20 million tons of proved reserves by the end of the year, demonstrating a hundred-million-ton scale exploration prospect 1. Remarkable Reserve Growth in Domestic Oil and Gas Exploration
Page 17
The Phase I production capacity project of the second and third batch of oilfields in New H Block was commissioned; A commercial discovery was announced in the Doseo Oilfield Chad 17 Suriname Completed 3D seismic data processing and comprehensively evaluated 12 potential target sand bodies Signed the contract for North 1 Block Kazakhstan Commissioning of the Phase I production capacity project of the second and third batch of oilfields in New H Block, Chad Area： 5,617km² North 1 Block Suriname Cretaceous Top Structure Contour & Sand body Overlay Map 2. High-Quality Development in Overseas Oil and Gas Business
Page 18
3. Steady Growth in Domestic Oil and Gas Production 828.9 837.3 1H 2025 1H 2026 2,602.6 2,664.2 1H 2025 1H 2026 2.4% 18 2.4%1.0% 1.0% 53.0% Domestic Marketable Natural Gas Production bcf Domestic Oil & Gas Production of Oil Equivalent Mm boe Domestic Marketable Natural Gas Production in Domestic Oil Equivalent Production Domestic Oil & Gas Production of Oil Equivalent YoY Growth Domestic Marketable Natural Gas Production YoY Growth
Page 19
8,320 thousand tons Refining Product Structure 19 Production of featured refined products including bonded marine fuel, paraffin, specialty asphalt, low-sulfur petroleum coke and lubricant base oil Paraffin production World's No. 1 No.1 in domestic market share Bonded marine fuel, paraffin, specialty asphalt, low-sulfur petroleum coke 655.3 million barrels Crude Processing Volume Gasoline and Diesel Yield 1.3p.p Down by 51.8 1H 2025 1H 2026 61.3% 9.4% 29.3% Refined products Specialty products Chemical raw materials and others 63.4% 8.7% 27.9% 4. Accelerated Transformation and Upgrading of Refining & Chemicals –Refining Business
Page 20
单位：千吨 400 624 1,074 1,665 2,688 1H 2022 1H 2023 1H 2024 1H 2025 1H 2026 Ethylene production 20.8 % Up by 61.4 % 1.7 % ’000 tons 1H 2025 1H 2026 Change Ethylene 4,473 5,402 +20.8% Synthetic resin 6,938 7,801 +12.4% Synthetic fiber materials and polymers 667 750 +12.4% Synthetic rubber 542 658 +21.4% 20 5. Accelerated Transformation and Upgrading of Refining & Chemicals –Chemicals Business 21,318 thousand tons Chemical commodity products 6.7% Up by 5,402 thousand tons PX production Up by 2,380 thousand tons New materials production Up by 2,688 thousand tons Major Chemical ProductsNew Materials Production ’000 tons Chemical & Engineering News Ranked 3 rd in “Global Top 50 Chemical Firms” Maintained a high growth rate of around 50% for 5 consecutive years
Page 21
Integrated energy stations 78.7% Up by Profit of non-fuel business 0.6% Up by 21 4,416 thousand tons Vehicle-use LNG sales 38.8% 16.1% 45.1% Gasoline Kerosene Diesel 39.7% 14.8% 45.5% 1H 2025 1H 2026 6. Continued Improvement of Marketing Capability for Marketing Business Service stations 21,932 4,419 6,950 Charging and battery-swap stations Photovoltaic stations 4,227 1.86RMB Billion Gas refuelling stations 1,548 Sales Structure of Refined Products 0.26billion tons International trading volume Basically flat YoY
Page 22
161.22bcm Sales Volume of Natural Gas (including LNG) 124.89bcm Domestic Sales Volume of Natural Gas (including LNG) 1.1% Up by 7. Rising Profitability of Natural Gas Marketing 22 3.9% Up by 5.61bcm Online-Traded Gas Volume 3.2% Up by 9.9bcm Gas Volume for Power Generation 2.2% Up by
Page 23
8. Solid Progress in Green and Low-Carbon Transition 1.37times As the same period last year 5.07billion KWH Wind and solar power generation As the same period last year 1.46times2.81billion KWH Wind and solar external power supply Over 60million m2 Newly signed geothermal heating contracts (agreements) area 20.12million KW Accumulative installed capacity 2.87million KW New wind and solar power generation capacity 23 1.37million tons CO2 injection 14.2% YOY increase China’s First Full-Chain Green and Low-Carbon Ethylene Project - Tarim Ethylene Phase II Annual carbon emission reduction 1.37million tons
Page 24
9. Continued Improvement in ESG Performance ESG Rating B ESG Governance In-Depth Identification and Mitigation of ESG Risks for Overseas Businesses The Company’s 15th Five-Year Development Plan places greater emphasis on ESG No.1 among Domestic Peers AA Revision and Improvement of the Rules of Procedure for the Sustainable Development Committee 24 Best ESG Program Oil & Gas in Asia Extel New Fortune Best ESG Practice Company Selected enterprise for the Sustainable Development Yearbook S&P Global HKQAA Outstanding Award for ESG Disclosure Contribution
Page 25
25 10. Scientific and Technological Innovation Drove High-Quality Development 8RMB Billion YOY increase of Newly-authorized invention patents 1,545 174% 2 × 450 kt/a Full-Density Polyethylene (FDPE) Units of Tarim Ethylene Phase II, PetroChina Dushanzi Petrochemical Well Derricks in Fuman Oilfield Basic research In 1H 2026, R&D expenditure was over Refining, chemicals and new materials Deep and ultra- deep oil and gas exploration and development In 1H 2026, Obtained
Page 26
REMARKS BY THE PRESIDENT III 26 Mr. REN Lixin Executive Director & President
Page 27
Session 27
Page 28
Investor Relations Media Relations Tel: (8610) 5166-3828; (852)2522-1838 Email: zhongshiyou.list@everbloom.com.cn petrochina.list@everbloom.com.cn Tel: (8610)5998-2622; (852)2899-2010 Email: ir@petrochina.com.cn hko@petrochina.com.hk