Slides
Page 1
Analyst Meeting Q3 2025 Results | 31 October 2025
Page 2
Business Update Montri Rawanchaikul Chief Executive Officer Agenda Financial Results Chanamas Sasnanand EVP - Finance & Accounting Q&A SessionA Market & Strategy Update Kanita Sartwattayu CEO Designate EVP - Strategy, Business Development, and Human Resources
Page 3
Business Update Montri Rawanchaikul Chief Executive Officer
Page 4
9-Month Achievements and Forward Plan 2025 2026 Additional Acquisition of Sinphuhorm’s Stake Acquisition of MTJDA A18 Arthit CCS FID Deal Completion of Algeria T ouat Myanmar M3 FID Awarding of Reggane II Block Malaysia Greenfields FID • SK405B (Sirung and Chenda) FID in 2025 • The remaining fields of SK405B, SK417, SK438, and SK410B (Paprika) FID targeted in 2026 Abu Dhabi Offshore 2 (Waset) FID Ghasha (Dalma Gas) First Production Algeria HBR (Phase 2) FID 4
Page 5
Strengthen Core Production & Expand Growth Through M&A ENERGY SECURITY INTERNATIONAL GROWTH National Oil Company Sustain gas supply for Energy Security in Thailand from 3 gas corridors as a main gas provider Value Creation Drive value creation & growth in focus areas Eastern Gas Western Gas Southern Gas Expedite Project Development Strategic Partnering Future Growth with Strategic Allies Long-term Value Creation Immediate Contribution from 2025 M&A Sinphuhorm Additional 9.513% PI in Apr’25 (Effective 90% PI) • Net Sales +5-6 KBOED • Capacity of ~100 MMSCFD & 200 BPD MTJDA A18 50% PI in Jul’25 • Net Sales +17 KBOED • Capacity of ~600 MMSCFD in 2025 Algeria Touat 22.1% PI in Sep’25 • Net Sales +6-7 KBOED (equity basis) • Capacity of ~450 MMSCFD Delivering Growth from Pre-Development Projects Project Expected First Production Gross Capacity Ghasha (Dalma Gas) 2026 340 MMSCFD Abu Dhabi Offshore 2 (Waset) 2027 180 MMSCFD Malaysia Greenfields 2028 190 MMSCFD & 20 KBPD M3 60 MMSCFD Ghasha (Hail & Ghasha) 1,160 MMSCFD & 140 KBPD Mozambique LNG 13 MPTA Algeria HBR (Phase 2) 2029 30 KBPD in 2029 & 60 KBPD in 2030 2024 2025 2026 2027 2028 2029 Pre-Development Projects M&A Currently Producing Projects Sales Volume Accelerating Volume Growth for Long-Term Sustainability 5
Page 6
Market & Strategy Update Kanita Sartwattayu CEO Designate EVP - Strategy, Business Development, and Human Resources
Page 7
Market Factors Global Economic Condition e.g. US, China, India SupplyDemand OPEC+Oil Production Policy Geopolitical tensions Israel – Iran Russia – Ukraine U.S. Tariffs and Retaliatory Measures from Trading Partners Source: PTTEP, Woodmac, Platts, FGE 2023 2024 2025 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Non - OPEC+ Production LNG Spot Price Market Update Source: PTTEP, S&P Global Platts, Monthly Poll on Oil Price as of Oct’25 LNG Spot PTTEP Gas Price LNG Price market forecast 2023 2024 2025Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Crude Oil Price US$/MMBTU Brent Dubai PTTEP Liquid Price Consensus Brent Price market forecast US$/BBL 5 10 15 20 25 30 2024 ActualLNG 11.92023 ActualLNG 13.8 Weaker demand for both Europe and Asia, coupled with new supply from U.S., Canada, and African LNG projects. Average LNG (US$/MMBTU)FY2025 11 – 14 (Consensus) Q1’25 Actual LNG 14.1 Q2’25 Actual LNG 12.3 Q3’25 Actual LNG 11.7 45 50 55 60 65 70 75 80 85 90 95 100 2023 ActualBrent 82.3Dubai 82.1 Average Dubai (US$/BBL) FY2025 65 – 75 (Consensus) Q1’25 Actual Brent 75.0 Dubai 76.9 Q2’25 Actual Brent 66.8 Dubai 67.0 2024 ActualBrent 79.9Dubai 79.6 Q3’25 Actual Brent 68.1 Dubai 70.1 7
Page 8
PTTEP E&P Portfolio – Expedite Development, Maximize Value, Drive Growth ThailandAlgeria / Mozambique Malaysia Maximize Asset Value & Maintain Key Milestones Algeria 433a&416b & Algeria HBR HBR Phase 2 Development Plan approved. Approaching FID, aiming to increase HBR production to 30 KBPD by 2029 & 60 KBPD by 2030 Algeria Touat Acquisition completed on 2 Sep’25 and immediately added net sales of 6-7 KBOED (equity basis), with a production capacity of ~450 MMSCFD Mozambique Area 1 Algeria Reggane II Awarded from 2024 Algeria Bid Round with PI 34%, Progressing toward PSC effectiveness Decision on remobilization and construction resumption is underway Monetize Discovery Fields & Increase Production Oman Block 61 & Oman Block 6 Maximize production by leveraging field potential UAE Ghasha Concession Production Concession Agreement approved | Approaching FID, expected 1st gas in 2027 at 180 MMSCFD To achieve 1st production in early 2026 (Dalma Gas) (Add ~340 MMSCFD) Abu Dhabi Offshore 2 (Waset) Maximize Asset Value & Accelerate Greenfield Monetization Malaysia Block K, Block H, SK309&311 Maximize production potential by accelerating field development activities Malaysia Greenfield SK405B, SK438, SK417, SK410B (Paprika) SK410B – Lang Lebah Cluster development to unlock economic potential & increase efficiency of marginal fields 5TCF of gas discovery Re-engineering to strengthen economic viability Optimize and secure long-term gas supply for energy security G1/65, G3/65 Exploration for additional gas opportunity // Partial divest 40% PI Portfolio Rationalization MTJDA B17-01 & MTJDA A18 Acquisition of 50% PI in Block A18 in Jul’25 Add net sales of 17KBOED (full year basis) & 2P reserves of 83 MMBOE G1/61, G2/61, S1 Maximize production // Continue drilling new wells on existing and new platforms Contract 4 Pursue Production Period Extension to ensure supply continuity in Thailand Sinphuhorm Acquired additional 9.513% stake, effective 90% interest from Apr’25 Arthit DCQ increased from 280 to 330 MMSCFD from Jun’25 Zawtika Maintain production supplied to Thailand & Myanmar Yadana Pursue exploration to secure PSC extension Myanmar 71%* 8%* 8%* 2%* 10%*OMAN / UAE Production phase Development/ Exploration phase Remark: *Q3/25 Sales Vol Contribution (% of total 510KBOED) | Other SEA Projects: 1% M3 Approaching FID, expected 1st gas in 2028 at 60 MMSCFD SK405B (Sirung and Chenda): Accelerating development to achieve FID by end 2025 and first production expected in 2028 Block K Phase 3B: Achieved FID and first oil targeted by mid-2026 (Add ~20KBPD) 8
Page 9
Arthit CCS Project Arthit CCS Project Thailand’s First Offshore CCS Project – A National Flagship for Decarbonization Total CAPEX (2025-2029) PTTEP’s Strategic Fit Leverage infrastructure & regulations under petroleum operations Supported by Thai Government under NDC action plan Build public confidence & foundation for scale up future CCS projects (incl. LLB, MTJDA and CCSaaS) Deliver significant GHG reduction (up to 1 MTPA) Project Highlights 320 $MM (Net cost likely to be minimized via potential tax incentives) Final Investment Decision (FID) in 2025 First CO2 Injection in 2028 CO2 Injection Capacity ~1 MTPA Total CAPEX (2025-2029) 9
Page 10
Q3’25 Financial Results Chanamas Sasnanand EVP - Finance & Accounting
Page 11
Financial Results | Q3/2025 -2% Lower liquid volume mix +1% Higher G&A and Exploration +1% Higher volume from TH and SEA offset with Lower crude load in Africa & ME 422 376 -14 17 408 393 Q2 25 Q3 25 Profit from Normal Operations Sales Volume Average Selling Price Unit Cost P/L from normal operation P/L from non-operating items Net Profit Non - operating Items (in million USD) (Unit: MMUSD) -8% Lower liquid price -1% Lower DD&A 520 376 -9 17 511 393 Q3 24 Q3 25 -6% Lower liquid price +5% Higher OPEX and G&A Q2 25 Q3 25 Q3 24 Q3 25 9M 24 9M 25 1,731 1,287 -43 1 1,688 1,288 9M 24 9M 25 +7% Higher volume from TH +3% Higher volume from TH Key Events MTJDA A18 50% PI acquisition completed in July 20251 QoQ Algeria Touat 22.1% PI acquisition completed in September 2025 (recognized via Equity method)2 +17 Mainly from Effect from FX -9 Mainly from Mexico B29 write-off with Oil Price Hedging and FX Gain +17 Mainly from Effect from FX -14 Mainly from Mexico B29 write-off offset with Oil Price Hedging Gain -43 Mainly from Asset write-off and Oil Price Hedging Loss +1 Mainly from FX and Oil Price Hedging Gain offset with Mexico B29 write-off YoY YTD 11
Page 12
Financial Results | Volume and Price 56% 60% 44% 40% Q2 2025 Q3 2025 Gas Liquid Volume Mix Revenue Mix 71% 74% 29% 26% Q2 2025 Q3 2025 334,205 348,042 360,342 328,333 332,566 346,452 88,624 82,192 86,703 88,933 89,220 89,724 65,965 74,538 63,452 57,812 63,123 63,749 488,794 504,772 510,497 475,078 484,909 499,925 0 100,000 200,000 300,000 400,000 500,000 Product Price 2024 Q2 25 Q3 25 Q3 24 9M 24 9M 25 Gas ($/MMBTU) 5.87 5.79 5.80 5.93 5.88 5.84 Liquid ($/BBL) 77.20 66.32 67.03 76.91 79.14 68.75 Weighted Avg. ($/BOE) 46.78 44.01 43.17 47.07 47.11 44.27 Avg. Dubai ($/BBL) 79.58 66.96 70.11 78.48 81.61 71.25 Avg. HSFO ($/BBL) (High Sulphur Fuel Oil) 74.02 68.66 64.58 73.25 74.92 69.23 Thailand & MTJDA Other SEA Rest of World Unit: BOED +1% +3% -2% -6% Note: Included sales volume from equity-accounted entity (Algeria Touat Project) of 2,552 BOED in Q3’25 and 860 BOED in 9M’25 Excluded Oman Block 61 deemed sales volume from tax payment by government 12
Page 13
Financial Results | Unit Cost 13 - 10 20 30 14.60 14.72 15.83 15.43 14.20 15.26 Unit : $/BOE Cash Cost Unit Cost 2024 Q2 25 Q3 25 Q3 24 9M 24 9M 25 DD&A 14.98 16.38 15.69 16.48 15.48 15.88 Finance Cost 1.87 2.11 2.11 1.93 1.93 2.15 Royalties 2.22 1.93 1.88 2.14 2.27 2.00 G&A 2.58 2.55 3.37 2.71 2.35 2.85 Exploration Expenses 0.37 0.04 0.77 0.40 0.45 0.34 Operating Expenses 7.56 8.09 7.70 8.25 7.20 7.92 Lifting Cost 4.84 5.48 4.99 5.02 4.58 5.14 29.58 31.1431.10 31.52 31.91 29.68 Note: • All Unit Cost shown above exclude costs related to new business • The formulas for calculating ratios are provided in the supplementary section for your reference +1% +5% 13
Page 14
Financial Results | Cashflows & Financial Position Ending cashDec-24 Ending cashSep-25 Unit: Million USD Equity Interest-bearing Debt * Other Liabilities Note: *Interest-bearing debt is included lease liabilities. Interest Rates 100% Fixed Rate Interest-Bearing Debt to Equity Interest-Bearing Debt to EBITDA Dec-24 Sep-25 0.24 0.57 0.25 0.64 Average Cost of Debt Average Time to Maturity Dec-24 Sep-25 3.94% p.a. 12.6 Yrs 3.94% p.a. 11.80 Yrs Unit: Million USD EBITDA Margin 71% Cashflows Debt Profile 15,767 15,943 3,761 3,976 8,873 9,114 Dec-24 Sep-25 29,03328,401 Total Assets 3,938 2,566 4,747 1,437 2,554 644 1,108 376 Inflow Outflow Cash flow from operations(Before tax) Tax paid Investing Financing Note: Net of adjustment for the effect of exchange rate changes on cash and cash equivalents CAPEX & Others M&A Dividend Lease & Interest Outflow Financial Position 14
Page 15
Financial Outlook & Credit Ratings Credit Ratings BBB stand-alone rating Baa2 stand-alone rating bbb stand-alone rating BBB+ Stable AAA Stable Baa1 Negative BBB+ Negative Outlook 489 2024A 2025F Sales Volume (KBOED) FY 2025 ~5.8 FY 2025 70-75% Gas Price* (US$/MMBTU) Unit Cost (US$/BOE) Profitability (EBITDA Margin) 5.87 ~5.8 2024A 2025F 29.58 2024A 2025F FY 2025 ~30 73% 2024A 2025F 70-75% 510-515 510-515 ~30 FY 2025 Included sales volume from equity-accounted entity * Based on average FY2025 Dubai oil price at 65-75 $/BBL 15
Page 16
+66 2 537 4000 http://www.pttep.com IR@pttep.com 16 Thank you and Q&A Please scan here to take the survey
Page 17
17 Supplementary Information Topics Page Company Overview 18 PTTEP Strategy Pillars 19 Finance • Profit and Loss Statement • 5 Years Investment Budget • Key financial ratios • Debt Maturity profile • PTTEP’s Gas Price Formula 20-24 Petroleum Reserves 25 Beyond E&P Business 26-29 SD & ESG • Net Zero Roadmap • ESG Ratings, Awards and Disclosure Standard 30-32 Thailand Energy Market 33-36 E&P Projects Information 37-47 Organization Structure 48 Ratios, Formulas, Conversion Table 49-50
Page 18
18 Company Overview As of latest book closing Aug 2025 3,969.9 Million shares PTT Local Institutions Foreign Institutions Retails 64% 15% 15% 6% Company Overview Sustainability Framework BN USD Market Capitalization 14 6 BN USD 9M2025 Sales Revenue 500 KBOED 9M2025 Sales Volume ~15 USD/BOE Competitive Cash Cost 8% Annualized Dividend Yield Level “B” Level “B” 2016-2024 AA 2024
Page 19
19 19 DRIVE VALUE DECARBONIZE DIVERSIFY ▪ Ensure Thailand energy security ▪ Expand international growth for long term sustainability ▪ Pursue Net Zero pathway with rule and regulation support ▪ Build stronger portfolio for Energy Transition Lean Competitiveness in foothold areas Green Readiness for Energy Transition • Invest in Offshore Wind, H2, CCSaaS • Foster Growth in ARV • Balance Portfolio Return Strategy Execution • Maximize Production and Expedite Development • Expand Growth in SEA and ME • Maintain cost competitiveness Clean Lower carbon for license to operate • CCS Execution* • GHG Reduction initiatives • Offsetting KEY ENABLERS Future Workforce Digital Technology RD&T * Such as Arthit CCS, which is part of the Nationally Determined Contributions (NDC) Action Plan and was approved by the Cabinet on 11 December 2024. PTTEP Strategy Pillars Strategy remains robust, “Embracing the Energy Transition and Reinforcing our strategic position as NOC” National Oil Company Energy Security International Growth Value Creations
Page 20
Finance – P&L Note: (1) Include Oman Block 61 deemed sales revenues from tax payment by government. (2) Included sales volume from equity-accounted entity (Algeria Touat Project) of 2,552 BOED in Q3’25 and 860 BOED in 9M’25. (3) Exclude Oman Block 61 deemed sales volume from tax payment by government. (4) Consisted of Revenue from Pipeline, Gain from FX and Forward Contract, and Gain from Oil price Hedging, Interest Income and Other Income. 20
Page 21
21 Finance – 5 Years Investment Budget 334 351 361 345 345 332 89 91 96 96 115 108 55 55 73 76 104 107 11 10 11 11 21 34 489 507 541 528 585 581 0 100 200 300 400 500 600 700 800 900 2024 2025 2026 2027 2028 2029 806805734757716696 in KBOED Sales CAGR +3.6% Sales Volume 3,525 3,835 3,624 3,322 2,813 2,590 997 1,464 1,557 1,352 446 246 2,276 2,520 2,485 2,284 2,456 2,593 6,798 7,819 7,666 6,958 5,715 5,429 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 2024 2025 2026 2027 2028 2029 MMUSD 2024 (4) 2025 2026 2027 2028 2029 Investment CAPEX(Dev & Pre-sanction projects (3) ) OPEX CAPEX(Producing projects) 2025-2029 E&P BUDGET 33.6 bn$ CAPEX 21.3 bn$ OPEX 12.3 bn$ Major Project Start-up (1) Ghasha (DGD) : 2H Capacity 340 MMSCFD Abu Dhabi Offshore 2(Waset) : 2H Capacity 180 MMSCFD MY Greenfields (2) : 2H Capacity 190 MMSCFD & 20 KBPD MOZ LNG : 2H Capacity 13 MTPA Ghasha (HGD) : 1H Capacity 1,160 MMSCFD & 140 KBPD Algeria HBR Phase 2 : 2H Capacity 30 KBPD Other SEA Africa & Others Thailand & MTJDA Middle East 2025 EXPLORATION BUDGET 168 m$ CAPEX 127 m$ OPEX 41 m$ Note: (1) Subject to regulatory approval and FID timing (2) Malaysia Greenfields include SK405B, SK417, SK438, and SK410B (Paprika) Projects. (3) Development & Pre-sanction projects include Ghasha Concession, Mozambique LNG, Abu Dhabi Offshore 2, and Malaysia Greenfields. (4) Including M&A Announced in Dec 2024
Page 22
22 22 69% 12% 20% 0.25 0.64 1.68 Profitability Ratios (%) Leverage Ratios (Times) Liquidity Ratio (Times) EBITDA Margin Return on Equity Net Profit Margin Debt to Equity Debt to EBITDA Current Ratio Q2 2025 Q3 2025 Finance – Key Ratios 72% 12% 21% 0.24 0.61 2.07 22
Page 23
23 Finance – Debt Maturity Profile 228 648 379 350 179 458 600 0 100 200 300 400 500 600 700 USD Millions As of September 2025 Unit: USD Millions or equivalent
Page 24
24 PTTEP’s Gas Price PTTEP’s Gas Mix 52% 43% 42% 29% 40% 41% 10% 8% 8%9% 9% 9% 2023 2024 2025HSFO Dubai JCC Linked Fixed 40 50 60 70 80 90 100 - 10 20 30 40 50 60 PTTEP Gas Price LNG JKM Dubai Price Unit: US$/MMBTU Unit: US$/BBL Gas Price1 Oil Benchmark Price3 Inflation4 USD/THB Exchange RateBase Price2 1 Average 6-12 months reset 2 Constant Price and Adjustment 3 HSFO or Dubai 4 TH PPI, US Oil Machine & Tools PPI (avg. 6-12 months) Movement of Energy Price vs PTTEP’s Gas Price Very resilient compared to market LNG price Gas Price Formula X= & &
Page 25
25 Reserves As of 31 December 2024 2024 by Product Type2024 by Geography Proved (P1) Probable (P2) 5-Year Average Proved Reserves Replacement Ratio (RRR) 2018-2022 2019-2023 2020-2024 2.0 1.8 1.5 1,442 1,436 1,637 844 844 931 2,286 2,280 2,568 - 500 1,000 1,500 2,000 2,500 3,000 2022 2023 2024 MMBOE Gas LiquidDomestic International 46% 48% 54% 52% P1 P1 + P2 2,568 1,637 70% 69% 30% 31%1,637 2,568 P1 P1 + P2 Reserves Life Proved & Probable (2P) 10.1 Years Proved (1P) 6.4 Years Note: - Based on average production per day of natural gas, condensate, and crude oil (including LPG) of 696 KBOED for the year 2024. - Included reserves and production under Equity Method e.g. investment in APICO LLC.
Page 26
26 DIVERSIFY For the Future New business portfolio readiness for Energy Transition Tech Business Energy Transition Business CCSaaS OffshoreWind Hydrogen • PTT Group Eastern CCS hub • Strategic International Investment • Seagreen Offshore Wind Farm Project • Strategic International Investment Corporate Venture Capital (CVC) • Strategic investments in tech. start-up to gain insights and early access to energy transition technologies, supporting future business development
Page 27
27 New Business Progress • Acquisition completed on 31 May 2024, with a 25.5% indirect interest via RESH. • Electricity generation met target. Seagreen Offshore Wind Farm Project • PTTEP invests in fusion energy development project, for future new business opportunities. Xplor Ventures CBAM: Carbon Border Adjustment Mechanism • Seismic reprocessing and regulatory assessments have been initiated to support the CCS Hub plan. • PTTEP and PTT Group have released a CCS Hub whitepaper and engaged regulators for project guidance. • Studying business models and service fee structures for CO2 transport and storage to mitigate CBAM impacts. Carbon Capture and Storage (CCS) Project • The area covered is approximately 110 rai. • The capacity is approximately 9.98 megawatts. • Electricity generation has continued as planned since 29 June 2023. Solar Power Project (Lan Sang Arun)
Page 28
28 Water Depth 40 - 60 m Water Depth 40 - 60 m 27km from Angus Coast, Scotland 114 Vestas Offshore Wind Turbine 10MW generating capacity each 40-60m Water depth Fully operational in October 2023 1.1GW Total Capacity 2MMTCO2e GHG Emission displaced The largest Offshore Windfarm in Scotland PTTEP will hold 25.5% after completion (PTTEP’s share 280MW) “SEAGREEN” Offshore Wind Farm Acquisition Low-risk asset with Stable cashflow with 15-year guarantee on turbine performance and 15-year fixed price 50% 50% RESH 51% 49% Holding Structure 28 compared with emission from electricity generated by fossil fuels every year 28
Page 29
29 ARV is a Ventures Builder principally engaged in the research, development and provision of solutions using Artificial Intelligence and Robotics technologies, as well has ventures ideation, incubation, development and commercialization. VENTURES BUILDER ARV has successfully spun-off start-ups into separate legal entities focused on further commercialization and development of their respective deep-tech domains. BUSINESS UNITS JOINT VENTURES ROVULA JOINT VENTURES VARUNAJOINT VENTURES SKYLLER JOINT VENTURES CARIVA Unmanned Robotic Technologies and Data Analytics for Marine, Offshore and Underwater Assets AI-driven and Autonomous Aerial Drone Technologies, Operations and Data Analytics for Various Industries and Operations One-Stop Agriculture and Climate Technology Solutions Health Solutions Platform that Simplifies Data Access, Manage Security and Accelerates the Creation of Digital Health Solutions Geospatial Location Intelligence Platform and AI Technology to provide advanced location insights XGATEWAY Unmanned Surface Vehicle for Hydrographic Survey and Surveillance XPLORER Autonomous Underwater Vehicle for Subsea Pipeline Inspection NAUTILUS Underwater Robotic System for Inspection, Repair & Maintenance of Subsea Pipelines XSPECTOR IA cloud-based data management platform specifically tailored for subsea inspection and survey operations HORRUS Autonomous Nested Drone Systems for Asset Inspection, Surveillance and Mapping SKYLLER PLAFORM Data Platform for Fleet Management, Data Visualization and Analytics SKYLLER AI ML AI-Assisted anomalies detection for fast and accurate decision making UAV LOGISITIC Drone Delivery Solutions for intra-city, long range and remote delivery of critical cargo and parts AiANG SPRAYER UAV UAV for blanket and precision- spraying services for various crops SMART FOREST Green Area management platform and carbon credit solutions CARBON CREDIT TOKENIZATION PLATFORM Platform enables seamless trading of carbon credit using blockchain technology KANNA CARBOM FARMING Mobile application for productivity improvement and carbon project registration HEALTH APPLICATIONS Variety of completed health applications for health and wellness solutions HARDWARE SOLUTIONS Seamless integrate to software with IoT and Robotics solutions BUILDING BLOCKS Data management and software API platforms for building the custom-made digital health solutions. AI HEALTH PRODUCTS AI-powered solutions for personalized health care and precision medicine BUILDING PERMIT PLATFORM ASSET MANAGEMENT PLATFORM MUNICIPAL TAX PLATFORM Platform to supporting cities to operate urban infrastructure components and services efficiently with data connectivity Allows government offices to monitor, review and update assets’ status for informed evaluation and decision making The integration of AI and GIS to streamline rive accurate, quick and convenient permission processes for officer and citizen One-stop tax collection & valuation intelligent system to facilitate citizens for submission of online petition form, payment check and status tracking CITY DIGITAL DATA PLAFORM 29 GREEN ARANYA (GARY)
Page 30
30 Decarbonization: EP Net Zero 2050 Reaching Net Zero Greenhouse Gas Emissions by 2050 with EP Net Zero 2050 concept Electrification CH4 Reduction CCU & H2 CCS Flare Recovery Portfolio Management (i.e., ICP application) Forestation DAC+CCSBlue Carbon Decarbonization Strategy BECCS Avoid Mitigate Offset Energy Efficiency Renewable Energy 30
Page 31
31 A Strong Strive to Achieving Net-Zero through Carbon Capture and Storage (CCS) Thailand’s Decarbonization Pathway with CCS Contribution 2030 CARBON NEUTRALITY* NET-ZERO GHG EMISSION* 0 100 200 300 2020 2025 2030 2035 2040 2045 2050 2055 2060 2065 TH Net Emission in MtCO2e (Total emissions reduced by removals) Total GHG CO2 ** Thailand’s Nationally Determined Contribution (NDC) Action Plan as approved by the Cabinet on 11 December 2024. 60 MTPA by 2065 National CCS Contribution Goal 40% GHG REDUCTION Thailand's NDC Action Plan** includes the action plan (during 2024 –2030) for promotion of Arthit CCS as the National Pilot Project and establishing the foundation for nationwide CCS development (including Eastern CCS Hub) by: 40 MTPA by 2050 Arthit CCS and Eastern CCS Hub (initial phase) Contribution Upto 11 MTPA 27.5% 18.33% 2024 Conducting a feasibility study on carbon storage in the Gulf of Thailand. Developing CCS standards, frameworks, and regulations for petroleum and non-petroleum sectors. Exploring suitable tax incentives and financial support to accelerate CCS developments. Arthit CCS Eastern CCS Hub 31 * Based on Thailand’s latest Long-Term Low Greenhouse Gas Emission Development Strategy (LT-LEDS) submitted to the United Nations Framework Convention on Climate Change (UNFCCC) – Revised Version 2022. 2050
Page 32
32 ESG Ratings, Awards and Disclosure StandardsESG Standards International ESG Ratings AAA AA A BBB BB B CCC Global Reporting Initiative Reporting Standards (GRI Standards & GRI 11) International Financial Reporting Standards (IFRS) IFRS S1: General Requirements for Disclosure of Sustainability-related Financial Information 100 80 60 40 20 CIS-1 CIS-2 CIS-3 CIS-4 CIS-5 A A- B B- C C- D D- 0-10 10-20 20-30 30-40 40+ Source: Bloomberg Terminal, S&P Global and Moody’s website as of Oct 2025 No Response Thai ESG Rating Stock Exchange of Thailand’s Sustainability Award of Honor (2nd Consecutive Year) AA Rating SET ESG Rating Others Gold-Level Top-tier Award for Role Model Organization on Human Rights (2th Consecutive Year) FTSE4Good Index Series (9th Consecutive Year) Taskforce on Nature-related Financial Disclosures (TNFD) DJSI Ranked within the top 15% in the Sustainability Yearbook (12th Consecutive Year) Member of the DJSI World Index in the Oil and Gas Upstream & Integrated Industry (10th time) Taskforce on Climate-related Financial Disclosures (TCFD) AA 2024
Page 33
33 Thailand Energy Market Natural Gas Supply Natural Gas Consumption Electricity Generation Domestic Domestic Domestic Myanmar Myanmar Myanmar LNG LNG LNG 0 1,000 2,000 3,000 4,000 5,000 FY 2023 FY 2024 8M 2025 MMSCFD 4,768 4,664 4,652 Electricity Electricity Electricity Industry Industry Industry GSP GSP GSP NGV NGV NGV 0 1,000 2,000 3,000 4,000 5,000 FY 2023 FY 2024 8M 2025 MMSCFD 4,495 4,410 4,596 54% 53% 58% 58% 55% 2% 3% 3% 3% 3% 17% 17% 14% 14% 15% 16% 16% 15% 15% 16% 11% 10% 10% 10% 11% 0% 20% 40% 60% 80% 100% FY 2021 FY 2022 FY 2023 FY 2024 8M 2025 Natural Gas Hydro Electricity Coal & Lignite Imported Renewable Energy Diesel GWH 114,174 223,283 235,512 OVERVIEWVALUE CHAIN 8M 2025 Thailand’s Oil and Gas Supply 8M 2025 Thailand Petroleum Production Crude Oil & Condensate 1.1 m BOE/D Natural Gas 0.8 m BOE/D 8% % by Petroleum Type and Area Liquid 25% Gas 75% Offshore 92% Onshore 8% PTTEP74% Others26% % Production by Company 87% 13%Domestic Imports 36% 64% ImportsDomestic *According to Draft PDP 2024 which is subject to approval by the National Energy Policy Council (NEPC) and the Cabinet 33 Gov’t Goal for Electricity Generation toward 2037 53% 13% 20% 13% 2030* Natural Gas Hydro Electricity Renewable Energy Coal & Lignite 1% Others Source: Energy Policy and Planning Office (EPPO) and Department of Mineral Fuels (DMF) 41% 17% 33% 7% 2037* Natural Gas Hydro Electricity Renewable Energy Coal & Lignite 1% Nuclear 1% Others 215,838 209,717 (64%) (60%) (56%) (9%) (11%) (12%) (27%) (29%) (31%) (61%) (17%) (20%) (2%) (63%) (17%) (18%) (2%) (62%) (18%) (2%)(18%)
Page 34
34 SUPPLYPRODUCTIONSALES 6M 2025 Oil Balance 6M 2025 Natural Gas Balance Import (87%)1,037 KBD Indigenous (13%)155 KBD PTT’s Associated Refineries 770 KBD (TOP, PTTGC, IRPC) Other Refineries 469 KBD (SPRC, BSRC, BCP) Crude/Condensate1004 KBD Crude/Condensate142 KBD ImportedRefinedPetroleumProducts33 KBD CrudeExport13 KBD Export 164 KBD Domestic 989 KBD Refined Products962 KBD * RefinedProducts151 KBD* Source: PTTNote: MMSCFD @ Heating Value 1,000 Btu/ft3 (*) Refined product from refineries = 1,023 KBD, and domestic supply of LPG from GSPs and Petrochemical Plants = 90 KBD PTTEP83% Others17% Gulf of Thailand (65%) Onshore (2%) Myanmar35%LNG65% 2,456MMSCFD Bypass Gas 134 MMSCFD 109MMSCFD PetrochemicalFeedstock(16%) Industry HouseholdTransportation(7%) EthanePropaneLPGNGL LPG 903 MMSCFD(23%) 1,205MMSCFD Methane1,419 MMSCFD Maintains the stability of country supply through adequate refining capacity Main driver of Thailand’s economy Total Refining Capacity in Thailand 1,239 KBD Power (52%) Industry (22%) NGV (3%) 6 Gas Separation Plants Total Capacity 2,650 MMSCFD @ Actual Heat Import (32%)Onshore (3%) Thailand Energy Market 34
Page 35
35 Key Fields Supplying Gas to Thailand Most are matured and required high investment to prolong plateau Yadana Zawtika S1, SPH PTTEP1 G1/61 ArthitC4 G2/61 MTJDA G1/65 G3/65 WESTERN Corridor SOUTHERN Corridor EASTERN Corridor f 0 1 2 3 4 5 6 2024 2030 2035 4.4 4.6 4.7 4.8 4.8 4.8 4.9 4.8 4.8 4.5 4.5 4.5 4.6 Gulf of Thailand Malaysia-Thailand JDA Myanmar Onshore Gas Contracted LNG 4-5 MTPA 7-8 MTPA Onshore Contracted LNG G1/61 G2/61 MTJDA Myanmar C4 & small fields TH Gas Demand GSP capacity Source: PTTEP Assets and PTT Gas Supply To be filled Thailand Gas Demand and Supply G2/61 Arthit Gas Supply @ Asset GCV, BSCFD 35
Page 36
36 Downward Integration (PTT Operate through our subsidiaries) PTT Own Businesses (PTT’s own operation) Upward Integration (PTT Operate through our subsidiaries) Crude Procurement Import/Export Commodity Hedging Int’l Office China / Singapore / Abu Dhabi / London/ USA/ Thailand Traded 24 bn liters in 1Q25 5 Gas pipelines 6 Gas Separation Plants Gas Supply & Trading NGV New Business & Sustainability Innovation & New Ventures Innovation Institute Market Share1 ~40.3% 75% 2,761 Oil Stations in Thailand1 Non-oil Retail Lubricants International Oil & Retail ~75%2 14,175 MW1 (equity portion) Electricity Steam & Chill Water Energy Storage Largest refinery group in Thailand Market Share >50% 3of6 refineries PTT Group Business and Activities Remark: Percentage holding as of Jun 2025 1 As of Jun 2025 / 2 Holding portion of PTT Group (direct & indirect) >50 Projects 1,637 mmboe proved reserves or 6.4 years in 2024 12 Countries 65.29% Oil, Gas, Condensate in 100% 50% LNG Receiving Facilities LMPT1 capacity 11.5 MTA JV with EGAT (PTT 50: EGAT 50) LMPT2 capacity 7.5 MTA LNG Value Chain 100% LNG E&P Natural Gas Trading Power Refineries & Petrochemicals Oil & Retail Integrated Refineries & Petrochemical New Business and Sustainability 100% 100% 40% 51% 51% 50% EV Charging Points 3,130 Electric Vehicle Non-Hydrocarbon Business Hydrocarbon & Power Business Life Science Pharmaceutical Medical device Nutrition 100% Hydrogen CCS Corporate Sustainability ~48%
Page 37
37 Project Name Status Phase Participating Interest* (%) Production Volume Latest StatusGas (MMSCFD) Liquid (KBPD) 1 G1/61 (Erawan) OP Production PTTEP 100%**** 793 32 • Ramp-up to 800 MMSCFD since 20 March 2024. • The project continues to invest in the construction and installation of new wellhead platforms, as well as ongoing development well drilling to sustain production levels. 2 G2/61 (Bongkot) OP Production PTTEP 100% 701 25 • Maintain gas production. • The project continues construction and installation of production platforms, along with ongoing development drilling activities. 3 Arthit OP Production PTTEP Chevron MOECO 80% 16% 4% 307 13 • The project continues to drill additional production wells to increase the production levels. • Achieved the production target, surpassing the Daily Contracted Quantity (DCQ) under the new GSA, which increased from 280 MMSCFD to 330 MMSCFD effective from June 2025 onward. 4 Contract 4 (Pailin) JV Production PTTEP Chevron MOECO 60% 35% 5% 320 12 • The project continues to drill additional development wells to maintain the production plateau. 5 MTJDA B17-01 JOC Production PTTEP PC JDA 50% 50% 296 10 • The project continues to drill additional production wells to sustain the production levels. 6 MTJDA A18 JOC Production PTTEP PC JDA 50% 50% 413 - • Signed a Sales and Purchase Agreement (SPA) on 25 July 2025 to acquire a 50% participating interest in the project from Hess Corporation. 7 Sinphuhorm OP Production PTTEP MH Energy Thailand LLC 90% 10% 88 0.2 • PTTEP acquired additional 27.18% stake in APICO LLC from Jadestone with the completion effective from 16 April 2025 (PI in the project increased from 80.487% to 90%.) E&P Projects Detail – Thailand Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project ** Production volume represent average volume for 100% of the project in Q3/2025 *** Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship/ JV = PTTEP Joint Venture Partner **** PTTEP’s Participating interest under Production Sharing Contract is 60%, however, PTTEP has agreed for sole investment in the project, since 1 December 2021.
Page 38
38 Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project ** Production volume represent average volume for 100% of the project in Q3/2025 ** Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship/ JV = PTTEP Joint Venture Partner Project Name Status Phase Participating Interest* (%) Production Volume Latest StatusGas (MMSCFD) Liquid (KBPD) 8 B8/32 & 9A JV Production PTTEP Chevron MOECO KrisEnergy Palang Sophon 25% 51.66% 16.71% 4.63% 2% 52 12 • Normal operations 9 G12/48 OP Production PTTEP 100% 5 - • PTTEP completed the acquisition of an additional 33.3333% stake from TotalEnergies in June 2025. 10 E5 JV Production PTTEP ExxonMobil 20% 80% 6 - • Normal operations 11 G4/43 JV Production PTTEP Chevron MOECO Palang Sophon 21.375% 51% 21.25% 6.375% 4 5 • Normal operations 12 G4/48 JV Production PTTEP Chevron MOECO 5% 71.25% 23.75% 0.03 - • Normal operations 13 L53/43 & L54/43 OP Production PTTEP 100% - 1 • Normal operations 14 PTTEP1 OP Production PTTEP 100% - 0.09 • Normal operations 15 S1 OP Production PTTEP 100% 4 Crude: 22 KB LPG: 150 MTon/Day • The company continue drilling additional development wells to maintain the production levels. • Implemented greenhouse gas reduction plan by utilizing renewable energy and reducing emissions from the production operation. E&P Projects Detail – Thailand
Page 39
39 Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project ** Production volume represent average volume for 100% of the project in Q3/2025 ** Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship/ JV = PTTEP Joint Venture Partner **** PTTEP has entered into a Farm-out Agreement to transfer 40% of its participating interest to Valeura Energy (Chaiyaphruek) Ltd. The divestment will be completed after approval from the government agency. Project Name Status Phase Participating Interest* (%) Production Volume Latest StatusGas (MMSCFD) Liquid (KBPD) 16 B6/27 OP Production PTTEP 100% - - • Prepare for decommissioning activities. 17 L22/43 OP Production PTTEP 100% - 0.05 • Normal operations 18 G9/43 OP Exploration PTTEP 100% - - • Activity suspended (located in Overlapping Claims Area between Thailand and Cambodia) 19 G1/65 OP Exploration PTTEP 100%**** - - • The exploration well drilling and 3D seismic acquisition are scheduled in 2025. • Divestment of 40% PI to Valeura Energy, completion expected in 2025 20 G3/65 OP Exploration PTTEP 100%**** - - • The exploration well drilling and 3D seismic acquisition are scheduled in 2025. • Divestment of 40% PI to Valeura Energy, completion expected in 2025 E&P Projects Detail – Thailand
Page 40
40 Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project ** Production volume represent average volume for 100% of the project in Q3/2025 ** Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship/ JV = PTTEP Joint Venture Partner Project Name Status Phase Participating Interest* (%) Production Volume Latest StatusGas (MMSCFD) Liquid (KBPD) 1 Malaysia Block K - Kikeh - Siakap-North Petai field (SNP) - Gumusut-Kakap field (GK) OP (Kikeh) OP (SNP) (40%) JV (GK) (14.80%) Production PTTEP Pertamina Petronas PTTEP Pertamina Petronas PTTEP Pertamina Petronas 56% 24% 20% 22.4% 9.6% 8% 7.17% 3.07% 2.56% 10 22 • Normal operations • The project continues to drill additional development and exploration wells to maintain the production plateau. • The Final Investment Decision (FID) for Phase 3B has been approved to increase production by approximately 20,000 BPD by mid-2026. 2 Malaysia SK309 and SK311 - East Patricia (SK309) - Others (SK309 and SK311) OP (East Patricia) OP (Others) Production PTTEP Petronas Pertamina PTTEP Pertamina Petronas 42% 40% 18% 59.5% 25.5% 15% 107 14 • Normal operations • The projects continue to drill additional development wells to maintain the production plateau. E&P Projects Detail – SEA
Page 41
41 Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project ** Production volume represent average volume for 100% of the project in Q3/2025 ** Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship/ JV = PTTEP Joint Venture Partner Project Name Status Phase Participating Interest* (%) Production Volume Latest StatusGas (MMSCFD) Liquid (KBPD) 3 Malaysia Block H - Rotan - Others OP (Rotan) OP (Others) Production PTTEP Pertamina Petronas PTTEP Petronas Pertamina 56% 24% 20% 42% 40% 18% 249 - • Normal operations • The project continues to drill additional development wells to maintain the production plateau. 4 Malaysia SK410B - Lang Lebah - Paprika OP Exploration PTTEP KUFPEC Petronas 42.5% 42.5% 15% - - • The re-engineering process for the Lang Lebah field is currently underway to reduce development costs and enhance project economic value. • The development planof the Paprika field is under study, with the Final Investment Decision (FID) targeted within 2026 and first production expected in 2028. 5 Malaysia SK417 - Dokong - Nangka OP Exploration PTTEP Petronas 80% 20% - - • The development of the Dokong and Nangka fields is currently in the Front-End Engineering Design (FEED) phase. The Final Investment Decision (FID) is targeted by 2026, with first production expected in 2028. 6 Malaysia SK405B - Sirung - Chenda OP Exploration PTTEP Petronas MOECO 49.5% 25% 25.5% - - • The development of the Sirung and Chenda fields is currently in the tendering process for the EPCIC (Engineering, Procurement, Construction, Installation & Commissioning) contract. The Final Investment Decision (FID) is targeted within this year, with first production expected in 2028. 7 Malaysia SK438 - Babadon OP Exploration PTTEP Petronas 80% 20% - - • The development of the Babadon field is currently in the Front-End Engineering Design (FEED) phase, which is expected to be completed by November 2025. The Final Investment Decision (FID) is targeted within this year, with first production expected in 2028. E&P Projects Detail – SEA
Page 42
42 Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project ** Production volume represent average volume for 100% of the project in Q3/2025 ** Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship/ JV = PTTEP Joint Venture Partner Project Name Status Phase Participating Interest* (%) Production Volume Latest StatusGas (MMSCFD) Liquid (KBPD) 8 Malaysia SK314A OP Exploration PTTEP Pertamina Petronas 59.5% 25.5% 15% - - • The project is evaluating the remaining petroleum potential, with two exploration wells planned to be drilled during 2027–2028. 9 Malaysia SK412 OP Exploration PTTEP TotalEnergies 60% 40% - - • The project has entered the second phase of the exploration period and is evaluating the remaining petroleum potential, with two exploration wells expected to be drilled in 2027. 10 Malaysia SK325 JV Exploration PTTEP Petronas PETROS 32.5% 60% 7.5% - - • The project completed the petroleum potential assessment for the southern part of the exploration block and revised its exploration drilling plan for the committed exploration wells, which are expected to be drilled in 2026. 11 Myanmar - Yadana OP Production PTTEP MOGE 62.9630% 37.0370% 347 - • Normal operations • The project is also in preparation for further exploration activities. 12 Myanmar - Zawtika : M9 & a part of M11 OP Production PTTEP MOGE 80% 20% 322 - • The projects continue to progress in accordance with the development plan and is currently constructing the Phase 1E wellhead platform to maintain production levels. 13 Myanmar - M3 OP Exploration PTTEP 100% - - • The project is in the process of Final Investment Decision (FID) consideration, with first production expected in 2028. E&P Projects Detail – SEA
Page 43
43 Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project ** Production volume represent average volume for 100% of the project in Q3/2025 ** Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship/ JV = PTTEP Joint Venture Partner Project Name Status Phase Participating Interest* (%) Production Volume Latest StatusGas (MMSCFD) Liquid (KBPD) 14 Vietnam – Block 9-2 JOC Production PTTEP Vietnam Oil and Gas Group Pharos Energy 25% 50% 25% 5 2 • The petroleum contract extension has been approved for an additional 5 years, until 2032. • The contract was signed in August 2025. 15 Vietnam - Block 16-1 JOC Production PTTEP Vietnam Oil and Gas Group Pharos Energy OPECO 28.5% 41% 28.5% 2% 8 7 • The petroleum contract extension has been approved for an additional 5 years, until 2031. • The contract was signed in September 2025. 16 Vietnam – Block B & 48/95 JV Development PTTEP Vietnam Oil and Gas Group MOECO 8.5% 65.88% 25.62% - - • The Final Investment Decision (FID) was approved in Q2/2024. • It is currently under Phase 1A development, with first production expected in late 2027. 17 Vietnam – Block 52/97 JV Development PTTEP Vietnam Oil and Gas Group MOECO 7% 73.4% 19.6% - - • The Final Investment Decision (FID) was approved in Q2/2024. • It is currently under Phase 1A development, with first production expected in late 2027. 18 Indonesia - Natuna Sea A JV Production PTTEP Harbour Energy KUFPEC Petronas Pertamina 11.5% 28.67% 33.33% 15% 11.5% 85 1 • Normal operations E&P Projects Detail – SEA
Page 44
44 Project Name Status Phase Participating Interest* (%) Production Volume Latest StatusGas (MMSCFD) Liquid (KBPD) 1 Ghasha Concession JV Development PTTEP ADNOC Eni Lukoil 10% 70% 10% 10% - - • The project is in development phase, with the first gas production expected in early 2026. 2 Abu Dhabi Offshore 2 (UAE) - Waset - Others JV (Waset) JV (Others) Development Exploration PTTEP ADNOC Eni PTTEP Eni 12% 60% 28% 30% 70% - - • For the Waset field, the field development plan was approved by the government in September 2024, and the petroleum production concession was signed in June 2025. As a result, ADNOC became the operator and hold a 60% participating interest, while PTTEP’s interest was reduced to 12%. Final Investment Decision (FID) is expected within 2025. • Moreover, the remaining area outside the Waset field is still in the exploration phase and is operated by Eni, with PTTEP holding a 30% participating interest. 3 Abu Dhabi Offshore 3 (UAE) JV Exploration PTTEP Eni 30% 70% - - • The project entered the second phase of exploration period and commenced drilling the exploration wells (NS-106X) according to work commitment under the concession. E&P Projects Detail – Middle East Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project ** Production volume represent average volume for 100% of the project in Q3/2025 ** Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship/ JV = PTTEP Joint Venture Partner *** The Oman Onshore Block 12 project is currently pending regulatory approval for relinquishment.
Page 45
45 Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project ** Production volume represent average volume for 100% of the project in Q3/2025 ** Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship/ JV = PTTEP Joint Venture Partner *** The Oman Onshore Block 12 project is currently pending regulatory approval for relinquishment. Project Name Status Phase Participating Interest* (%) Production Volume Latest StatusGas (MMSCFD) Liquid (KBPD) 4 Oman Block 6 (PDO) JOC Production PTTEP Energy Development Oman Shell TotalEnergies 2% 60% 34% 4% - 720 • Normal operations 5 Oman Block 53 JV Production PTTEP Occidental OOCEP Indian Oil Mubadala 1% 47% 20% 17% 15% - 50 • Normal operations • On 18 May 2025, the Exploration and Production Sharing Agreement (EPSA) was signed to extend the contract period by 15 years, through 2050. The extension was subsequently published in the Official Gazette on 4 September 2025. 6 Oman Block 61 JV Production PTTEP BP Makarim Gas Development LLC Petronas 20% 40% 30% 10% 1,534 38 • Normal operations E&P Projects Detail – Middle East
Page 46
46 Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project ** Production volume represent average volume for 100% of the project in Q3/2025 ** Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship/ JV = PTTEP Joint Venture Partner *** Note: PTTEP Australasia, and Mexico Block 12 (2.4) projects are currently pending regulatory approval for relinquishment. In addition, the Mexico Block 29 (2.4) project is awaiting government approval for divestment. Project Name Status Phase Participating Interest* (%) Production Volume Latest StatusGas (MMSCFD) Liquid (KBPD) 1 Mozambique Area 1 JV Development PTTEP TotalEnergies, Mitsui, ENH, OVL OVRL & Oil India , Bharat 8.5% 26.5% 20% 15%, 10% 10%, 10% - - • The project is currently in the process of evaluating site re-access readiness to support the resumption of construction activities. 2 Algeria 433a & 416b (Bir Seba) JOC Production PTTEP PetroVietnam Sonatrach 35% 40% 25% - 17 • Normal operations 3 Algeria Hassi Bir Rekaiz JOC Production PTTEP Sonatrach 49% 51% - 15 • Normal operations • The second phase development are underway, with a Final Investment Decision (FID) targeted within this year. The project aims to increase production to 30,000 BPD and 60,000 BPD in 2029 and 2030 respectively. 4 Algeria Touat JV Production PTTEP Eni Sonatrach 22.1% 42.9% 35% 143 0.7 • Normal operations • Acquisition completed on 2 September 2025 5 Algeria Reggane II (to be effective upon regulatory process) JV Exploration PTTEP Eni 34% 66% - - • PTTEP and Eni Algeria Exploration B.V. (Eni) have been awarded the Reggane II Block from Algeria Bid Round 2024. • The Production Sharing Contract (PSC) was signed in July 2025, which will become effective upon publication in the official gazette, expected within 2025. 6 Dunga (Kazakhstan) JV Production PTTEP KMG OOCEP 20% 60% 20% 2 17 • Normal operations E&P Projects Detail – Rest of the World
Page 47
47 Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project ** Production volume represent average volume for 100% of the project in Q2/2025 ** Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship/ JV = PTTEP Joint Venture Partner Project Name Status Phase Participating Interest* (%) Production Volume Latest StatusGas (MMSCFD) Liquid (KBPD) 1 Oman LNG Shareholder Production PTTEP Government of Oman Shell TotalEnergies Korea LNG Mitsubishi Mitsui Itochu 2% 51% 30% 5.54% 5% 2.77% 2.77% 0.92% N/A N/A • Normal Operations • Total capacity 10.4 MTPA • Signed the Shareholder Agreement in 2023, to extend for an additional 10 years until December 2034 2 ADNOC Gas Processing (AGP) [UAE] JV Production PTTEP ADNOC Shell TotalEnergies 2% 68% 15% 15% N/A N/A • Normal operations Midstream Projects Detail
Page 48
48 Ensuring performance excellence, transparency, and good corporate governanceOrganization Structure
Page 49
4949 Ratios and Formula Petroleum Reserves Reserves Replacement Ratio 5-Yr Additional Proved Reserves / 5-Yr Production Volume Reserves Life Index (year) Proved Reserves / Production Volume Success Ratio Number of wells with petroleum discovery / Total number of exploration and appraisal wells Profitability Sales Revenue Sales + Revenue from pipeline transportation Lifting Cost (USD/BOE) (Operating Exp. – Transportation Cost – Stock Variation – Other expenses not related to lifting) / Production Volume Cash Cost (USD/BOE) (Operating Exp. + Exploration Exp. + G&A + Royalties + Finance Cost) / Sales Volume Unit Cost (USD/BOE) (Operating Exp. + Exploration Exp. + G&A + Royalties + Finance Cost + DD&A) / Sales Volume EBITDA (Sales + Revenue from pipeline transportation) - (Operating expenses + Exploration expenses + Administrative expenses + Petroleum royalties and remuneration + Management's remuneration) EBITDA Margin EBITDA / Sales Revenue ROA Trailing-12-month net income / Average assets between the beginning and the end of the 12-month period ROE Trailing-12-month net income / Average shareholders' equity between the beginning and the end of the 12-month period Leverage Total Debt Short-term loans from financial institution + Current portion of long-term debts + Bonds + Long-term loans from financial institution Net Debt Total debt – Liquidity Debt to Equity Total debt / Shareholders' equity Net Debt to Equity Net debt / Shareholders' equity Total Debt to Capital Total debt / (Total debt + Shareholders' equity) Total Debt to EBITDA Total debt / Trailing-12-month EBITDA Net Debt to EBITDA Net debt / Trailing-12-month EBITDA EBITDA Interest Coverage Ratio Trailing-12-month EBITDA / Trailing-12-month Interest Expenses & Amortization of Bond Issuing Cost
Page 50
50 Conversion Table 50 Crude Oil From Tonnes Kilolitres Barrels US Gallons Tonnes/year Tonnes 1 1.165 7.33 307.86 - Kilolitres 0.8581 1 6.2898 264.17 - Barrels 1.1364 0.159 1 42 - US Gallons 0.00325 0.0038 0.0235 1 - Barrels per Day - - - - 49.8 Natural Gas and LNG From BN Cubic metres NG BN Cubic feet NG MM tonnes oil equivalent MM tonnes LNG Trillion BTU MM BOE 1 BN cubic metres NG 1 35.315 0.86 0.735 34.121 5.883 1 BN cubic feet Ng 0.028 1 0.024 0.021 0.966 0.167 1 MM tonnes oil equivalent 1.163 41.071 1 0.855 39.683 6.842 1 MM tonnes LNG 1.36 48.028 1.169 1 46.405 8.001 1 Trillion BTU 0.029 1.035 0.025 0.022 1 0.172 1 MM BOE 0.17 6.003 0.146 0.125 58 1