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N O V E M B E R 2 0 2 5 Quarterly Update Q2FY26 Newer Horizons Conquering
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2 • This presentation is prepared by Oil India Limited (the “Company”) for general information purposes only, without regard to specific objectives, suitability, financial situations and needs of any particular person and does not constitute any recommendation or form part of any offer or invitation or inducement to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of the Company, nor shall it or any part of it or the fact of its distribution or offer form the basis of, or be relied on in connection with, any contract or commitment therefor. This presentation does not solicit any action based on the material contained herein. Nothing in this presentation is intended by the Company to be construed as investment, legal, accounting or tax advice.• The information and opinions contained herein are provided as of date of this presentation and are subject to change without further notice. This presentation has been prepared by the Company based upon the company’s data and/or information available in the public domain. This presentation has not been approved and will not be reviewed or approved by any statutory or regulatory authority in any jurisdiction including India or by any stock exchange in India.• This presentation is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any investor. The information contained herein does not purport to be all-inclusive or to contain all of the information, a prospective or existing investor may desire. All investors should conduct their own investigation and analysis of the Company and consider such factors as deemed appropriate while making an investment decision.• This presentation may contain certain forward-looking statements relating to the business, financial performance, strategy and results of the Company and/or the industry in which it operates. Forward-looking statements are statements concerning future circumstances and results, and any other statements that are not historical facts, sometimes identified by the words "believes", "expects", "predicts", "intends", "projects", "plans", "estimates", "aims", "fore- sees", "anticipates", "targets", and similar expressions. The forward-looking statements, including those cited from third party sources, contained in this presentation are based on certain assumptions and are uncertain and subject to risks. A multitude of factors including, but not limited to, changes in global and domestic oil and gas prices, changes in the subsidy regime in India, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Neither the Company nor its affiliates or advisors or representatives nor any of its or their parent or subsidiary undertakings or any such person's officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this presentation or the actual occurrence of the forecasted developments. Forward-looking statements speak only as of the date of this presentation. As a result, the Company expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements in this presentation as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based. In addition, this presentation also contains statements including information about the Company’s reserves that are based on the Company’s internal estimates and have not been independently verified by any third party or expert. Many of the factors, assumptions and variables involved in making such estimates may be beyond the control of the Company and may prove to be incorrect over time since they involve factoring multiple uncertainties. Disclaimer
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3 0.85MMTCrude Oil Production753MMTRefinery ThroughputStrategic clarity has enabled leading performance and shareholder returns Note: (1) Share price has risen from ₹200.55 (BSE closing market price) on 14th Nov 2022 to ₹437.35 (BSE closing market price) as of 14th Nov 2025, reflecting a xx growth; (2) 4.49 Cr shares buyback worth ₹1527 Cr at ₹340 per share (vs NSE market price ~₹334.40); (3) 5.09 Cr shares buyback worth ₹1086 Cr at ₹215 per share (vs NSE market price ~₹199.05); (4) Dividend Payout Ratio as % of PAT; || Sources: BSE, NSE, S&P, SEBI filings Market capitalization (as of 14thNov’25)INR 71K cr. Share Price (BSE, as of 14thNov’25)INR 437.35Q2FY26 Operational highlightsQ2FY26 Financial highlightsOIL has significantly outperformed benchmark indices over the last three years with ~2.2x1growth0100200300400500600700Share price value growth (FY19-FY25, indexed to 100)OIL IndiaNIFTY 50S&P Global Oil Index 9,175INR CrConsolidated Revenue1,644INR CrConsolidated PAT2,210INR CrStandalone Capex52,037INR CrConsolidated Net WorthD I V I D E N D P A Y O U T4B O N U S S H A R E SB U Y B A C K S32%(FY23)31%(FY24)31%(FY25)1 for 3(FY17)1 for 2(FY18)2.7% premium2(FY18)8.1%premium3(FY19) -0.6% QoQQ1FY26 to Q2FY26 Crude Oil Production-2.8% QoQQ1FY26 to Q2FY26 Gas Production0.80MMTOEGasProduction1 for 2(FY25)
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AgendaFinancial Highlights01Strategy and Operational performance024
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5 Strong Q2FY26 performance, underscores OIL’s operational resilience and strategic execution 2,156INR CrEBITDAStandalone 5,457INR CrRevenueStandalone 3.5INR per shareInterim DividendDividend of INR 3.5 on a face value INR 10 per shareMarket CapitalizationAs of 14thNov 2025 71K INR CrCrude oil revenueNatural gas revenue 1,419INR Cr 3,507INR CrF I N A N C I A L H I G H L I G H T SPipelines transport revenue 445INR Cr 6.42INR 1,044INR CrPATStandaloneEarning per shareStandalone
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6 OIL has maintained consistent standalone financialsin INR CrRevenuein INR CrEBITDAin INR CrProfit after Tax (PAT)in INR CrNet WorthQ2’26Q1’26Q4’25Q3’25Q2’25Financial Ratios0.26:10.25:10.27:1 0.26:10.24:1 Total Debt – Equity14%21%28%31%30%Operating Margin19%16%29%23%33%Net Profit Margin 5,5195,2405,5195,0125,457Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 3,0392,3212,6481,7822,156Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 1,8341,2221,5918131,044Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 38,36239,09639,53140,34441,144Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 F I N A N C I A L H I G H L I G H T S Note: Average of opening and closing capital employed in each fiscal year used for ROCE and Capital turnover calculation S T A N D A L O N E F I N A N C I A L S
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7 79.373.874.566.268.248.849.550.544.546.0Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 F I N A N C I A L H I G H L I G H T SDespite strong macro headwinds on price realization across crude and gasCrude Oil (US$/bbl.)Natural Gas (US$/mmbtu) 6.76.566.586.726.78Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Price RealizedNet Realization after Levies
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8 Consolidated financials have also shown a steady trend 8,1369,0899,5888,7509,175Q2'25Q3'25Q4'25Q1'26Q2'26 3,5132,8442,9703,3313,024Q2'25Q3'25Q4'25Q1'26Q2'26 2,0691,4571,4972,0471,644Q2'25Q3'25Q4'25Q1'26Q2'26 47,95048,80148,95650,85252,037Q2'25Q3'25Q4'25Q1'26Q2'26 F I N A N C I A L H I G H L I G H T SRevenueEBITDAProfit after Tax (PAT)Net Worthin INR Cr in INR Cr in INR Cr in INR Cr Note: Average of opening and closing capital employed in each fiscal year used for ROCE and Capital turnover calculation S T A N D A L O N E F I N A N C I A L SC O N S O L I D A T E D F I N A N C I A L S Q2’26Q1’26Q4’25Q3’25Q2’25Financial Ratios0.56:10.51:10.55:1 0.51:10.48:1Total Debt – Equity18%20%24%23%24%Operating Margin18%23%16%16%25%Net Profit Margin
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AgendaFinancial Highlights01Strategy and Operational performance029
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10 OIL has delivered consistent production over last 5 quarters 0.880.870.840.850.850.800.830.810.830.801.671.701.651.681.65Q2'25 Q3'25 Q4'25 Q1'26 Q2'26OilGas Quarterly Production (in MMTOE)S T R A T E G Y & O P E R A T I O N A L P E R F O R M A N C E
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11 Start Point End PointCurrent Status/ TimelinePlanned CapacityCurrent CapacityApplicationPipelineNaharkatiyaBarauni30-year life extensioninitiatives ongoing; upgraded to enable reverse pumpingof imported crude till Guwahati Refinery9.6 MMTPACrude Oil supplyNBPLParadip NumaligarhTo be commiss-ioned by early Q4FY269 MMTPA-Imported crude oil supply to NRLPNCPL Further network expansion underway leading to pan India customer accessS T R A T E G Y O V E R V I E WS T R A T E G Y & O P E R A T I O N A L P E R F O R M A N C ENatural Gas Pipeline NetworkCrude Oil Pipeline NetworkPetroleum/ Finished Product Pipeline NetworkStart Point End PointCurrent Status/ TimelinePlanned CapacityCurrent CapacityApplicationPipelineMech. complete by 15 Nov’25; Commissioning by Apr'260.9 BCM [2.5 MMSCMD]0.36 BCM [1 MMSCMD]Natural gas supply to NRLDNPLWithin NRL IGGL (within phase 1 exp. location)Mech. Complete of DNPL by 15 Nov’25; hook-up & common carrier license (PNGRB) by Apr’260.9 BCM [2.5 MMSCMD]-Gas supply from Oil India fields to pan-India grid (interim/ fall back only)DNPL X IGGL Hook-Up (IGGL phase 1 already live)DuliajanIGGL (within phase 1 exp. location)PNGRB approval by Dec’25; 18 months construction by Jun’271.3 BCM [3.5MMSCMD]-Gas supply from Oil India fields to pan-India gridFeeder-Line to IGGLNote: DNPL: Duliajan - Numaligarh Gas Pipeline, IGGL : Indradhanush Gas Grid Limited, NBPL: Naharkatiya - Barauni Crude pipeline, PNCPL: Paradip-Numaligarh Crude Pipeline, NSPL: Numaligarh - Siliguri Product Pipeline, PNGRB : Petroleum and Natural Gas Regulatory BoardStart Point End PointCurrent Status/ TimelinePlanned CapacityCurrent CapacityApplicationPipelineNumaligarhSiliguriExpansion mechanically completed on 12 Oct-255.5 MMTPA1.72 MMTPATransport of petroleum products from NRLNSPL(Completed as per target schedule)
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12 NRL has proven strong growth with increase in margins and revenueFinancial and operational metrics from refining (NRL) 91%108%108%107%100%Q2'25 Q3'25 Q4'25 Q1'26 Q2'26Capacity Utilization (%) 84%87%88%85%86%Q2'25 Q3'25 Q4'25 Q1'26 Q2'26Distillate Yield (%) 2.252.109.285.0210.56Q2'25 Q3'25 Q4'25 Q1'26 Q2'26GRM without excise duty (US$/bbl) 5,1976,5566,9276,2806,442Q2'25 Q3'25 Q4'25 Q1'26 Q2'26Revenue (INR Cr)EBITDAmargin~8% S T R A T E G Y O V E R V I E WS T R A T E G Y & O P E R A T I O N A L P E R F O R M A N C E ~10% ~14% ~12% ~15%
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13 OIL INDIA - A resilient, growth-focused integrated energy platform Accelerated future production growthStrong volume ramp-up, led by gas focused developments and enhanced recovery initiatives1Exploration driven upside in the long-termRobust domestic acreage (~90% OALP), and strategic global asset ensure long-term resource visibility2Diversified, de-risked and resilient portfolioIntegrated presence across O&G value chain with operations spanning domestic and key global markets3Focused future-proof energy transition playExpansion into profitable renewable niches with early leadership in green hydrogen and CCUS4Integrated value chain synergiesUnique upstream to downstream footprint driving margin resilience, operating efficiencies, and control over cash flows5High-margin, capital disciplined modelGas-weighted production, strong refining economics, and product capital allocation support sustained profitability6Proven Leadership, Operational and technology excellence Strong track record of delivery, financial discipline, and clear strategic roadmap7
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14 Contact us Shri A. K. Sahoo Company SecretaryEmail: investors@oilindia.in Shri Abhijit DasChief Investors Relations OfficerEmail: abhijitdas@oilindia.in For Institutional Investors & AnalystsFor Retail Investors
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16 Net Zero by 2040ESG CommitmentGovernanceEmpowering People Link to resourcesResourcesOil India’s website includes information about our financial performance, reports and information on investing in Oil India, dividend payments, AGM and strategy events. FS of SubsidiariesAnnual ReportsFinancial Analysis (Databook)Annual ReturnInvestor ServicesCompany VisionPress ReleasesOIL Across The GlobeOther LinksFinancial ResultsSustainability