Slides
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Earnings Call (OppDay) Q2/2026 Results | 3 August 2026
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Market & Operations Update Business Update Financials JUMP+ Progress
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1985 2025 2035Production (KBOED) 725 374 PTTEP’s 4-Decade Journey of National Energy Security Provider Keeping Momentum Driving Excellence Securing Future Growth… 322 510 2015 2025 Sales Volume Growth +58% Unit: KBOED Unit Cost Optimization 38.88 31.42 2015 2025 -19% Remarkable milestones in the Past 10 Years… 1991 Entered into Myanmar 2002 Entered into Middle East 2004 Entered into Algeria1994 Entered into MTJDA 2026(E) ~560 ~30 2026(E) 374 725 ~790 Production Volume Sales Volume Unit: USD/BOE ลองหาตัวเลขที่วัดผลจาก Angel อื่น การพูด 60 ไม่ ค่อย strong เช่น เราช่วย LNG Crisis เป็นตัวเลข เท่าไหร่ ที่ช่วย energy security 3 ค าด้านขวา เอาออกดีไหม ไม่ค่อยสื่อในหน้านี้ 13% 28% 2%57% Gas Demand (~5,000 MMSCFD) LNG imports Other domestic producers Additional PTTEP Contribution Ensuring the Nation’s Energy Security ~60% of Thailand’s Gas Demand 0% Volume Mix Liquid ~30% 50% 100% Gas ~70% ~15 USD/BOE Competitive Cash Cost ~30% in 2015 PTTEP Contribution
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Changing Business Environment and PTTEP’s Response 4 Our strategic response to Key Business Movement and Geopolitical Volatility GEOPOLITICS VOLATILITY KEY BUSINESS MOVEMENT 1. Energy Security as “Core Mandate” Drive proactive initiatives into tangible actions 2. Execution Excellence Prioritize high-impact activities & investments across SEA, Middle East, and Algeria 3. Disciplined & Resilient Growth Focus on selective investment combined with a strategic reassessment of Middle East exposures 4. Pragmatic Net-Zero Pathways Align decarbonization aspiration with operational realities Supply chains disruption Commodity price volatility - Strait of Hormuz disruption - PTTEP’s STRATEGIC RESPONSE 1 2 3 4 “Energy Addition” Era Oil & Gas as primary fuel Rebalance climate framework adoption Industry reaffirms E&P focus Energy Trilemma Focus shift towards Security Security AffordabilitySustainability Energy Trilemma • Energy Security risks • Commodity price volatility • Supply chains disruption
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Focuses on energy security and international growth ensuring long-term resilience PTTEP Strategy for the Next Decade … while also delivering a Pragmatic Pathway to Net Zero & building a Ready for Future Low-Carbon Portfolio Production Aspiration Our Core Strategic Directions… Strategic Workforce E&P Center of Excellence 5 > 60% Gas Supply to TH > 50% Net Income Contribution to total gas demand Contribution from International hubs by 2035 ▪ Sustain supply from three gas corridors ▪ Drive cost competitiveness ▪ Explore new piped gas supply Provide Energy Security Pursue International Growth ▪ Drive value creation through international hubs ▪ Prioritize time-to-market ▪ Expand growth in SEA, ME and Algeria Energy Security International Growth 1-3% CAGR 2027 2031 20352025(A) 2026(E)
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Key Strategies to Thailand Energy Security Strengthen Value & Expand International Growth f Provide Energy Security & Pursue International Growth Southeast Asia • Focus monetization for Ghasha Concession project • Pursue value creation for existing assets to maximize production volume • Prioritize Selective Growth for disciplined expansion with strategic partners • Drive value creation through existing assets • Expand Growth with Strategic Partners through exploration and M&A Growth Sustain existing gas supply GoT SAVE drives value through four pillars: Drilling efficiency, Wellhead platform reuse, OPEX optimization, Decommissioning strategies 1 Unlock gas supply potential 2 • Onshore Extension and GoT Beyond • Yadana Extension and New development fields • Andaman Exploration 6 1 2 • Enhance Value through smooth & safe operations in producing assets • Accelerate Value from Discovery-to-Monetization focusing on SK410B (Lang Lebah) and Malaysia Greenfields • Prioritize Exploration Growth for potential expansion through strategic collaboration • Focus Monetization of Ghasha development in UAE amid regional tension • Pursue Value Creation from existing producing assets in Oman • Prioritize Selective M&A Growth for disciplined expansion • Drive Value Creation focusing on HBR Phase 2 development • Expand Growth with Strategic Partners through exploration and selective M&A Middle East Algeria Southeast Asia เพิ่ม 3 Gas Corridor เน้น MTJDA ด้านซ้าย ด้วย Gas supply from 3 gas corridors: Thailand, MTJDA, and Myanmar
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Market & Operations Update Business Update Financials JUMP+ Progress
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Supply Demand Source: PTTEP, Woodmac, Platts, FGE LNG Spot PTTEP Gas Price LNG Price market forecastUS$/MMBTU Global Crude Inventory Elevated Energy Costs Geopolitical tensions OPEC+ Production Policy Non-OPEC+ Production Market Update 8 2025 ActualLNG 12.22024 ActualLNG 11.9 Average LNG (US$/MMBTU) FY2026 : 16 (Outlook) Pace of inventories drawdown or refill will depend on Strait of Hormuz situation High energy costs trigger widespread demand destruction Crude Oil Price LNG Spot Price Market Factors Source: PTTEP Jul’26 2024 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 (Outlook) Brent Dubai PTTEP Liquid Price Consensus Brent Price market forecast Q1’26 ActualLNG 14.2 Q2’26 ActualLNG 17.4 Continuing Strait of Hormuz disruption & 17% of Qatar LNG plant damaged (3-5 years repair) US/Israel - Iran, Houthi - Saudi Arabia & Russia - Ukraine Average Dubai (US$/BBL) FY2026 : 80 – 90 45 55 65 75 85 95 105 115 125 135 Isarel-Iran Conflict 2024 ActualBrent 79.9Dubai 79.6 2025 ActualBrent 69.1Dubai 69.4 US Tariff causing demand concern U.S. shutdown & OPEC+ supply increase from the cut unwind Post-COVID demand recovery & OPEC+ supply discipline China growth slowdown & rising non-OPEC supply Supply concerns from sanctions & extreme winter weather in US US–Israel–Iran Conflict and Strait of Hormuz Disruption US$/BBL Q1’26 ActualBrent 81.1Dubai 87.9 Q2’26 ActualBrent 103.9Dubai 95.9 Signing of US–Iran Islamabad MoU US-Iran tensions rise again after vessel attacks Source: UN Global Platform; PortWatch Jul’26 0 20 40 60 80 100 Tankers crossing the Strait of Hormuz No. of Tankers Tanker (Daily count) 2024 ActualAverage 56 per day 2025 ActualAverage 51 per day 2024 2025 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q2’26 ActualAverage 4 per day Q1’26 ActualAverage 29 per day 5 10 15 20 25 30 35 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 (Outlook)2024 2025 2026
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Thailand’s 1st Total Wellhead Platform Reuse GoT SAVE | From Topside Reuse to Total Reuse — Unlocking Full Platform Value G1/61 G2/61 G1/65 G3/65 Arthit 2021 2024 2025 2026 2 Topsides Reuse 3 Topsides Reuse • 4 Topsides Reuse • 1st Total WHP Reuse (G1/61)1st Topside Reuse ปรับขึ้นด้วย VDO และเอากราฟ GOT ขึ้นก่อน หารูปwellhead จริงมา แสดง ไม่เอากล่องๆ Wellhead Platform (WHP) Topside Jacket & Piles Cost Breakdown GoT E&P Operations 40% 10% 30% 20% Drilling Others OPEX W HP ~50% Lower Cost than a new-build WHP ~70% Shorter Schedule approx. 6 months versus 20 months for a new-build WHP , leading to future drilling efficiency. ~US$5 Million Decommissioning Savings per Platform through platform reuse and asset-life extension 3,270 tCO₂e Avoided per Platform by avoiding new steel used in topside and jacket construction ~10 Platforms targeted for total reuses in 2027–2029 with additional 10-15 topside reuses across Gulf of Thailand projects 9 G1/61 G2/61 G1/65 G3/65 Arthit
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Key E&P Projects Update 573 KBOED Q2/26 Sales Volume Pursue International Growth Provide Energy Security Thailand & MTJDA Increased gas delivery above Contractual Delivery(DCQ) G1/61, S1 Continue drillings to sustain production MTJDA A18 Cabinet approval on new PSC to supports long-term energy security 0 200 400 600 800 G2/61 Contract 4 Arthit MTJDA B17-01 DCQ level CDC level Beyond CDC Myanmar Zawtika, Yadana ~8% of Thailand’s gas demand (imports) Maximize gas production; Exploration drilling to secure PSC extension of Yadana Myanmar M3 FID in Jul’26 for development of Aung Sinkha field, with targeted first gas in 2028 at 60 MMSCFD Malaysia Malaysia Block H, Block K, SK309&311, SK408 Maintain production plateau ➢ Malaysia SK408 FDP approved for Teja & Pepulut; FID targeted in 2026 & first gas in 2029 ➢ Malaysia Block K (Kikeh & SNP) Planned shutdown for FPSO restoration and under process for new FPSO contract Malaysia Greenfields SK405B, SK417, SK438, SK410B (Paprika) Advancing marginal field development; targeting first production in 2028 at gas 200MMSCFD and oil 15 KBPD Malaysia SK410B (Lang Lebah) 5TCF of gas resources; Finalizing field development plan Oman Block 6 & Block 61 Continued operations Ghasha Concession Under development of Dalma Gas, Hail & Ghasha, and SARB Deep Gas fields Algeria 433a&416b, Algeria HBR, Algeria Touat Maximize production; Development of HBR Phase 2 ramp up from 17K to 60K BPD by 2030 Mozambique Area 1 LNG plant construction & offshore installation in progress & Manpower ramp up post restart underway, with first cargo target in late 2028 Oman & UAE Algeria & Mozambique Other SEAs Production phase Development/Exploration phase 69% 8% 9% 9% 4% 1% G2/61, Contract 4, Arthit, MTJDA B17-01 G1/65 & G3/65 Exploration drilling and seismic reprocessing ➢ G3/65 Bussabong field targets FID in 2026 and first gas in 2028at 30–40 MMSCFD 77 % 23 % 10
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Market & Operations Update Business Update Financials JUMP+ Progress
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12 Q1/26 Q2/26 Q2/25 6 M 2025 6M2026 +16 -173 +3 +8 -35 Mexico B29 write-off - 15% Higher gas and liquid prices 6% Higher DDA and Exploration write-off 20% Higher gas and liquid prices 4% Lower DD&A and OPEX 10% Higher gas and liquid prices 7% Lower DD&A and OPEX 13% From acquisition during 2025 and increased gas nomination in Thailand 14% From acquisition during 2025 and increased gas nomination in Thailand -267 +94 +15 +15 -7 +6 - - -35 Mexico B29 write-off Q 1 / 26 Q 2 / 26 Q 2 / 25 6M2025 6M2026 (Unit: Million USD) P/L from Normal Operations P/L from Non-Operating Items Net Profit 4% Increased gas nomination in Thailand and crude loads in Algeria Non - Operating Items Oil Price Hedging Effect of FX Others Sale volume Avg. Selling Price Unit Cost Normal Operations 911 1,374 -16 - 165 895 1,209 628 746 422 - 252 87 -14 376 833 408 Financial Results | Q2/2026 Q2/2026 posted a new quarterly high, driven by record sales volume and strong operating income QoQ YoY YTD
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Financial Results | Sales Volume & Selling Price Record-high sales volume supported by strong domestic production and higher crude loads 13 Note: Included sales volume from equity-accounted entity (Algeria Touat and Malaysia SK408 Projects) of 3,443 BOED, 16,086, 16,219 and 16,189 BOED in FY2025, Q1/26, Q2/26 and 6M26, respectively. Excluded Oman Block 61 deemed sales volume from tax payment by government Volume mix Gas Liquid 72% 75% 74% 28% 25% 26% 2025 Q1/26 Q2/26 Revenue mix 58% 56% 49% 42% 44% 51% 2025 Q1/26 Q2/26 Gas Liquid Product Price 2025 Q1/26 Q2/26 Q2/25 6M 25 6M 26 Gas ($/MMBTU) 5.81 5.81 5.96 5.79 5.87 5.89 Liquid ($/BOE) 67.13 77.47 99.51 66.32 69.59 88.88 Weighted Avg. ($/BOE) 43.82 46.02 52.89 44.01 44.85 49.54 Avg. Dubai ($/BBL) 69.36 87.87 95.87 66.96 71.87 91.87 Avg. HSFO ($/BBL) (High Sulphur Fuel Oil) 66.08 79.24 98.28 68.66 71.75 88.76 353,491 385,519 396,317 348,042 339,392 390,948 89,160 97,587 100,368 82,192 91,260 98,985 67,255 70,263 76,197 74,538 63,900 73,246 509,906 553,369 572,882 504,772 494,552 563,179 0 100,000 200,000 300,000 400,000 500,000 600,000 +10%+15% +4% +20 KBOED +14% +69 KBOED Thailand & MTJDA Other SEA Rest of World Unit: BOED
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14 15.81 14.21 15.05 14.72 14.96 14.63 31.42 27.97 29.78 31.10 30.94 28.89 - 10 20 30 2025 Q1/26 Q2/26 Q2/25 6M 25 6M 26 DD&A 15.61 13.76 14.73 16.38 15.98 14.26 Finance Cost 2.15 1.90 1.86 2.11 2.17 1.88 Royalties 1.96 2.16 2.44 1.93 2.05 2.30 G&A 3.13 2.92 3.01 2.55 2.59 2.96 Exploration Expenses 0.51 0.14 0.91 0.04 0.11 0.53 Operating Expenses 8.06 7.09 6.83 8.09 8.04 6.96 Lifting Cost 5.23 4.67 4.52 5.48 5.23 4.60 +6% -7% Cash Cost Unit Cost Note: Excluded Mexico Block 29 asset write-offs (Exploration) in 2025 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 Financial Results | Unit Cost Unit cost remained competitive within the 30 USD/BOE range Unit: $/BOE
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EBITDA Margin 72% Cashflows Unit: Million USD Equity Interest-bearing Debt * Other Liabilities Note: *Interest-bearing debt is included lease liabilities. 16,451 17,068 4,014 4,353 9,106 9,564 Dec-25 Jun-26 30,98529,571 Total Assets Financial Position Interest Rates Interest-Bearing Debt to Equity Interest-Bearing Debt to EBITDA Dec-25 Jun-26 0.24 0.65 0.26 0.61 Average Cost of Debt (p.a.) Average Time to Maturity Dec-25 Jun-26 3.94% 11.54 Yrs 4.01% 10.07 Yrs Debt Profile 2,314 2,498 3,736 862 - 2,276 414 Cash flow from operations(Before tax) Tax paid Investing Financing 15 Unit: Million USD Inflow Outflow ≤ 0.5 ≤ 1.0 Policy Financial Results | Cashflows & Financial Position Robust Cash Margin and Solid Financial Position with Low Gearing 95% Fixed Rate
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Dividend Consistent Dividend Payout to Shareholders | Dividend Policy of ≥ 30% Payout 16 % of Net Profit 53 49 49 59 44 % of Profit from Normal Operation 40 47 49 64 39 0.00 2.00 4.00 6.00 8.00 10.00 2022 2023 2024 2025 2026 4.25 4.25 4.50 4.10 4.50 5.00 5.25 5.125 4.65 1H 2H Unit: THB per share Payout Ratio Schedule for 1H2026 Dividend Payment XD Date Record Date Payment Date 9.25 9.50 9.625 8.7514 August 2026 17 August 2026 28 August 2026
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Q3/2026 & FY2026 ~30 Q3/2026 & FY2026 ~70% 72% ~70% 70% ~70% Q2/26A Q3/26F 2025A 2026F Unit Cost (US$/BOE) EBITDA Margin (%) Outlook Credit Ratings BBB+ Stable Baa1 Stable BBB stand-alone rating Baa2 stand-alone rating bbb stand-alone rating BBB+ Negative AAA Stable 17 Financial Outlook & Credit Ratings Sale volume (KBOED) Gas Price (US$/MMBTU) Included sales volume from equity-accounted entity Based on average FY2026 Dubai oil price at 80-90 $/BBL 573 ~525 510 ~560 Q2/26A Q3/26F 2025A 2026F ~525 Q3/2026 FY2026 ~560 5.96 ~6.2 5.81 ~6.0 Q2/26A Q3/26F 2025A 2026F 29.78 ~30 31.42 ~30 Q2/26A Q3/26F 2025A 2026F ~6.2 Q3/2026 FY2026 ~6.0
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Market & Operations Update Business Update Financials JUMP+ Progress
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Energy Partner of Choice JUMP+ Progress 1 Business Progress for 1H2026 Corporate Financial Target To maintain an EBITDA margin of not less than 70% Strategic Plan • Strengthening Thailand’s energy security: maintaining and increasing production in Thailand, the Malaysia–Thailand Joint Development Area (MTJDA), and Myanmar • International growth: increasing production in key countries such as Malaysia, Oman, the UAE, Algeria, and Mozambique, while accelerating exploration and development projects to support long-term growth Expansion of the Exploration and Production Business through the Company’s objectives:1 Maintaining Unit Cost at a Competitive Level2 The Company aims to maintain unit cost at a competitive level of approximately USD 30/BOE through the GoT SAVE initiative (Gulf of Thailand, Synergy–Aspiration–Value Enhancement), which focuses on four key areas: • Drilling • Wellhead platform construction • Operating expenses optimization • Decommissioning Strategy Supporting Target Sales Volume (KBOED) 2026 Target 1H2026 560 563 19 1H26 EBITDA margin 72%
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Energy Partner of Choice JUMP+ Progress 2 Governance Plan for 2026 - 2028 Strategic Plan Strengthening Anti-Fraud and Anti-Corruption Measures1 20 Target T o maintain an organization free from fraud and corruption in all forms Board Independence2 Target The Board of Directors comprises not less than 50% Independent Directors. Strengthening Business Continuity Management3 Key Initiatives Target T o ensure that the Company can continue operating under all circumstances and obtain ISO 22301 certification Progress Update • Prepare and annually review the Business Continuity Plan (BCP) • Conduct Crisis Management Drills • Obtain ISO 22301 certification for designated offices, projects, and support bases • Define director and independent director qualifications, with annual independence review • Maintain a Board of no more than 15 members, with at least half being independent directors • Ensure a transparent nomination process aligned with the T arget Skill Mix • Promote Board Diversity in gender , expertise, and independence • Establish and annually review anti-fraud and anti-corruption policies • Report policy implementation to the Board at least annually • Communicate anti-corruption policies to investees and suppliers • Maintain CAC Change Agent status and encourage supplier participation in CAC • BCM implementation 41% completed • BCM internal audit completed (17 Jul 2026) • ISO 22301 certification on track within 2026 • Independent directors remain not less than 50% of the Board • 2 business partners joined CAC • CAC Change Agent maintained until Mar 2027 • CAC renewal on track for Dec 2026 • Continued anti-corruption communication with business partners & JVs
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+66 2 537 4000 http://www.pttep.com IR@pttep.com 21 Thank you and Q&A
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Topics Page Company Overview 23 Finance • Profit and Loss Statement • Key financial ratios • Debt Maturity profile • PTTEP’s Gas Price Formula 24-28 Petroleum Reserves Gulf of Thailand (GoT) SAVE 29 30 Deliver Pragmatic Pathway to Net Zero 2050 • Net Zero Roadmap • ESG Ratings, Awards and Disclosure Standard 31-34 Building a Ready for Future Low-Carbon Portfolio 35-37 Thailand Energy Market 38-40 E&P Projects Information 41-49 Organization Structure 50 Ratios/Formulas and Conversion Table 51 Supplementary Information
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Company Overview As of latest book closing Feb 2026 3,969.9 Million shares PTT Local Institutions Foreign Institutions Retails 64% 15% 15% 6% Company Overview Sustainability Framework 23 BN USD Market Capitalization 16 5.3 BN USD 1H2026 Sales Revenue 563 KBOED 1H2026 Sales Volume ~15 USD/BOE Competitive Cash Cost 6.8% Level “BB” 2016-2025 AAA 2025 Annualized Dividend Yield (based on share price 1H26 of 134 ฿/share)
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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 and Malaysia SK408 Projects) of 3,443 BOED, 16,086, 16,219 and 16,189 BOED in FY2025, Q1/26, Q2/26 and 6M26, respectively. (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. 24
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5-Year Investment Plan Disciplined Investment underpinning Sales Volume Growth 354 384 386 377 362 347 89 98 118 120 124 117 54 61 65 100 106 111 13 17 18 28 40 50 510 ~ 560 587 625 632 625 0 300 600 900 2025 2026 2027 2028 2029 2030 870868864819793725 Sales Volume * (in KBOED) Other SEA Africa & Others Thailand & MTJDA Middle East 2,570 2,562 2,427 2,465 2,437 2,656 3,308 3,741 3,861 3,177 3,084 2,666 1,076 1,423 1,388 955 228 209 6,954 7,726 7,676 6,597 5,749 5,531 0 4,000 8,000 2025**** 2026 2027 2028 2029 2030 CAPEX (Development Projects**) OPEX CAPEX (Producing Projects***) Investment (in Million USD) * Sales and Production Volume Included volume from equity consolidation (Algeria Touat, Malaysia SK 408) Added volume from recent acquisition of Malaysia SK 408 to the 5-Year Sales Volume announced on 4 December 2025 ** Development Projects include Ghasha Concession, Mozambique Area 1, Abu Dhabi Offshore 2, Myanmar M3, Malaysia Greenfields *** Include CAPEX for exploration, head office, and new businesses **** 2025 Investment excludes acquisition costs totaling 1,166 MMUSD e.g. MTJDA A18, Malaysia SK408, Algeria Touat and additional stake in Sinphuhorm 5-YEAR BUDGET (2026-2030) 33.3 bn$ CAPEX 20.7 bn$ OPEX 12.6 bn$ 2026 EXPLORATION BUDGET 129 m$ CAPEX 101 m$ OPEX 28 m$ Production Volume 25
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Finance – Key Ratios 26 Profitability Ratios (%) Leverage Ratios (Times) Liquidity Ratio (Times) Net Profit Margin Debt to Equity Debt to EBITDA Current Ratio Q1/2026 Q2/2026 Q2/2025 71% 72% 72% 11% 13% 12% 19% 21% 21% 0.24 0.26 0.24 0.64 0.61 0.61 1.19 1.29 2.07 0.09 0.21 0.11 Return on Equity EBITDA Margin Earnings Per ShareValuation (USD)
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Finance – Debt Maturity Profile 500 350 125 458 600 182 148 626 154 179 0 100 200 300 400 500 600 700 800 2026 2027 2028 2029 2030 2031 2032 2033-2041 2042 2043-2058 2059 Unit: USD Millions or equivalent 27 THB Bonds USD Bonds PTTEP THB Bond 6,000MM฿ @ 2.75% (Nov’26) PTTEP TC USD Bond 600MM$ @ 3.903% (Dec’59) PTTEP TC USD Bond 458MM$ @ 6.35% (Jun’42) PTTEP TC THB Bond 6,000MM฿ @ 3.05% (Apr’32) PTTEP TC THB Bond 5,000MM฿ @ 2.09% (Apr’27) PTTEP TC USD Bond 500MM$ @ 2.587% (Jun’27) PTTEP TC THB Bond 1,000MM฿ @ 2.69% (Apr’29) PTTEP THB Bond 8,000MM฿ @ 1.68% (May’29) PTTEP THB Bond 11,400MM฿ @ 4.82% (Jun’29) PTTEP TC USD Bond 350MM$ @ 2.993% (Jan’30) PTTEP USD Bond 125MM$ @ 4.50% (May’31) PTTEP THB Bond 5,000MM฿ @ 2.10% (Nov’31)
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PTTEP’s Gas Price PTTEP’s Gas Mix 0.00 20.00 40.00 60.00 80.00 100.00 120.00 140.00 - 10 20 30 40 50 60PTTEP Gas Price LNG JKM Average Dubai Price Unit: US$/MMBTUUnit: US$/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 for Key Projects X= & & 52% 43% 43% 49% 29% 40% 40% 37% 10% 8% 8% 7%9% 9% 9% 7% 2023 2024 2025 6M2026 HSFO Dubai JCC Linked Fixed
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2025 by Product Type2025 by Geography Proved (P1) Probable (P2) 5-Year Average Proved Reserves Replacement Ratio (RRR) 2019-2023 2020-2024 2021-2025 1.8 1.5 1.7 1,436 1,637 1,838 844 931 888 2,280 2,568 2,726 - 500 1,000 1,500 2,000 2,500 3,000 2023 2024 2025 MMBOE Gas LiquidDomestic International 46% 49% 54% 51% P1 P1 + P2 2,726 1,838 70% 69% 30% 31%1,838 2,726 P1 P1 + P2 Reserves Life Proved & Probable (2P) 10.3 Years Proved (1P) 6.9 Years Note: - Based on average production per day of natural gas, condensate, and crude oil (including LPG) of 725 KBOED for the year 2025. - Included reserves and production under Equity Method e.g. investment in Malaysia SK408 and Algeria Touat projects Reserves 29 6.9 Years 6.4 Years 6.2 Years 10.3 Years 10.1 Years 9.8 Years
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Gulf of Thailand (GoT) SAVE Drive Cost Efficiency and Encourage Synergy within GoT assets to Sustain Cost Competitive 40% 10% 30% 20% Drilling Others* OPEX WHP • Well Data Collection Optimization • Minimizing rig move duration • Rig modification for offline cementing • Well Design Optimization Drilling | Improved drilling days per well by 10% WHP | 100% WHP reuse aspiration • Completed Ph 1E/3E topside modification and Ph 1F design optimization • 3 topsides reused; 2 in G1/61 and 1 in Arthit within Q3 2025 • Target to enhance scope for jacket reuse in the future OPEX • Completed fleet vessel efficiency optimization Phase1 in G2/61 and Arthit • Completed sensor-driven integrity management in G1/61 • Integrated Operations Control Center (IOCC) at HQ starting in Q4 2025 (G1/61) • Operational Consumable/Supplies optimization Cost Breakdown GoT E&P Operations • Well abandonment optimization through procurement strategy Others* G1/61 G2/61 G1/65 G3/65 Arthit Others* = other cost including Exploration, Decommissioning and others expense 30
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Decarbonization: EP Net Zero 2050 Reaching Net Zero Greenhouse Gas Emissions by 2050 with EP Net Zero 2050 concept 31 GHG Management Remaining emission Mitigate & Reduction BAU emissions Offset Blue Carbon Forestation Electrification Renewable Energy Energy Efficiency CCS Flare Recovery CH4 Reduction Agriculture 31
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A Strong Strive to Achieving Net-Zero through Carbon Capture and Storage (CCS) Thailand’s Decarbonization Pathway with CCS Contribution 2030 NET-ZERO GHG EMISSION* ** Thailand’s Nationally Determined Contribution (NDC) Action Plan as approved by the Cabinet on 11 December 2024. 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: 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 * Based on Thailand’s updated NDC (NDC 3.0), approved by the Cabinet on 4 November 2025, commits the country to achieving net-zero greenhouse gas emissions by 2050. 32 2035 47% GHG REDUCTION* From 2019 baseline
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33 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)
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ESG Ratings, Awards and Disclosure Standards International ESG Ratings Oil & Gas Exploration and Production Industry Thai ESG Rating AAA Rating SET ESG Rating Others Gold-Level Top-tier Award for Role Model Organization on Human Rights (2th Consecutive Year) FTSE4Good Index Series (10th Consecutive Year) S&P Global Listed in the S&P Global Sustainability Yearbook 2025 (12th Consecutive Year) AAA 2025 As of Apr 2026 As of Dec 2025 As of Mar 2026 As of Dec 2025 CCC B BB BBB A AA AAA 20 40 60 80 100 40-100 30-40 20-30 10-20 0-10 1 2 3 4 5 Industry Average 67% 25% 5% 2% 1% 17% 52% 22% 8% 1% 13% 5% 15%13% 12%19%23% ESG Standards Global Reporting Initiative Reporting Standards (GRI Standards & GRI 11) In preparations to comply with Thailand’s adoption of IFRS Sustainability Disclosure Standards As of 30 Jul 2026 - DJSI: 68 - MSCI: BB - FTSE: 4.4 - Sustainalytics: 32.6
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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 businesses developing fusion energy, next-generation small modular reactors (SMRs), point-source carbon capture, and next-generation geothermal energy to support future new business opportunities. Xplor Ventures • Studying CO2 management infrastructure for the Eastern industrial region to support Thailand’s GHG reduction targets. • Cabinet approved Thailand–Japan cooperation to assess carbon storage potential in the Northern Gulf of Thailand. • DCCE and DMF assigned to support CCS policy development and project coordination. • PTTEP nominated as project operator, in collaboration with DMF, JOGMEC, and INPEX. • Seismic acquisition planned in 2026 to support future CCS Hub development in the EEC. 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) 35
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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 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 36 compared with emission from electricity generated by fossil fuels every year 36
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ARV develops advanced R&D, proprietary know-how in Artificial Intelligence and Robotics technologies to commercialize both directly from ARV and from Portfolio Companies. DEEP TECHNOLOGY ARV has successfully spun-off start-ups into separate legal entities focused on further commercialization and development of their respective deep-tech domains. PORTFOLIO COMPANIES JOINT VENTURES BEDROCKJOINT VENTURES VARUNA JOINT VENTURES CARIVAJOINT VENTURES SKYLLERJOINT VENTURES ROVULA 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 Nature-based Carbon Credit and Climate Technology Solutions Health Solutions Platform with Medical AI to save lives through better diagnosis 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 PLATFORM 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 PLANTATION Reforestation services with land surveying and monitoring through drone and satellite technologies Forest of Tomorrow Web-based platform enables seamless trading of carbon credit Customized AI-Powered Solution Customized digital health solutions for healthcare providers MEDICAL AI PRODUCTS AI-powered solutions for personalized health care and precision medicine BUILDING PERMIT PLATFORM ASSET MANAGEMENT PLATFORM CITY DIGITAL DATA PLAFORM (CDDP) 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 DEVELOPMENT SMART FOREST PLATFORM Forest management platform designed to help project developers monitor and analyze green areas Medicart Intelligent medication dispensing cart integrated with hospital information systems (HIS) 37
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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 2024 FY 2025 5M 2026 MMSCFD 4,588 4,768 5,063 Electricity Electricity Electricity Industry Industry Industry GSP GSP GSP NGV NGV NGV 0 1,000 2,000 3,000 4,000 5,000 FY 2024 FY 2025 5M 2026 MMSCFD 4,900 4,421 4,596 58% 54% 61% 3% 3% 5% 14% 15% 9% 15% 17% 14% 10% 10% 11% 0% 20% 40% 60% 80% 100% FY 2024 FY 2025 5M 2026 Natural Gas Hydro Electricity Coal & Lignite Imported Renewable Energy Diesel GWH 99,046 227,424 235,512 OVERVIEWVALUE CHAIN 5M 2026 Thailand’s Oil and Gas Supply 5M 2026 Thailand Petroleum Production Crude Oil & Condensate 1.2 m BOE/D Natural Gas 0.9 m BOE/D 8% % by Petroleum Type and Area Liquid 26% Gas 74% Offshore 92% Onshore 8% PTTEP *78% Others22% % Production by Company 85% 15%Domestic Imports 40% 60% ImportsDomestic* **According to Draft PDP 2024 which remains under revision and has not yet received final approval by the National Energy Policy Council (NEPC) and the Cabinet. Thailand is currently preparing an updated PDP framework extending to 2050, aligned with Net Zero 2050 and NDC 3.0 targets. 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 (60%) (60%) (64%) (8%) (11%) (9%) (32%) (29%) (27%) (63%) (16%) (19%) (2%) (63%) (17%) (20%) (2%)(61%) (17%) (2%)(18%) 38 Eppo Link Electricity Statistic DMF Link -กรมเชื้อเพลิงธรรมชาติ ซ้ายบน >> T03_01_01_Natural Gas Supply_2026 กลางบน >> T03_02_02_Natural Gas Comsumption_2026 ขวาบน >> T05_02_02 Electric Generation by fuel type_2026 ซ้ายล่าง >> T01_01_01_TH Oil & Gas Supply (%)_2026 กลางล่าง >> DMF_Petroleum Prod by Type & Area_2026.xlsx For IR_Thailand Production Share_Jan-June 2026 (AddMTJDA).xlsx *Include MTJDA Natural Gas supply
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SUPPLYPRODUCTIONSALES 3M 2026 Oil Balance 3M 2026 Natural Gas Balance Import (87%)1,068 KBD Indigenous (13%)158 KBD PTT’s Associated Refineries 770 KBD (TOP, PTTGC, IRPC) Other Refineries 469 KBD (SPRC, BSRC, BCP) Crude/Condensate1,039 KBD Crude/Condensate142 KBD ImportedRefinedPetroleumProducts29 KBD CrudeExport16 KBD Export 146 KBD Domestic 1,052 KBD Refined Products1,018 KBD * RefinedProducts130 KBD* Source: PTTNote: - MMSCFD @ Heating Value 1,000 Btu/ft3 - KBD = Thousand Barrels per day- (*) Refined products include products from 6 refineries and 1 condensate splitter = 1,058 KBD, and Domestic supply of LPG from GSPs and Petrochemical Plants = 90 KBD PTTEP82% Others18% Gulf of Thailand (63%) Onshore (2%) Myanmar29% LNG71% 2,502MMSCFD Bypass Gas 81 MMSCFD 111MMSCFD PetrochemicalFeedstock(17%) Industry HouseholdTransportation(7%) EthanePropaneLPGNGL LPG 941 MMSCFD(24%) 1,387MMSCFD Methane1,480 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 (54%) Industry (20%) NGV (2%) 6 Gas Separation Plants Total Capacity 2,650 MMSCFD @ Actual Heat Import (34%)Onshore (3%) Thailand Energy Market 39
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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 26 bn liters in 1Q26 5 Gas pipelines 6 Gas Separation Plants Gas Supply & Trading NGV New Business & Sustainability Innovation & New Ventures Innovation Institute Market Share1 ~41.6% 75% 2,737 Oil Stations in Thailand1 Non-oil Retail Lubricants International Oil & Retail ~75%2 13,666 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: 1 As of March 2026 / 2 Holding portion of PTT Group (direct & indirect) >50 Projects 1,838 mmboe proved reserves or 6.9 years in 2025 10 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% EV Charging Points 3,635 Electric Vehicle Non-Hydrocarbon Business Hydrocarbon & Power Business Life Science Pharmaceutical Nutrition 100% Hydrogen CCS Corporate Sustainability ~48% New Ventures Sustainability & AI Tech100%
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Project Name Status Phase Participating Interest* (%) Production Volume Latest StatusGas (MMSCFD) Liquid (KBPD) 1 G1/61 (Erawan) OP Production PTTEP 100% 796 35 • The project maintains gas production and sales at commitment of 800 MMSCFD. • The project continues to invest in the construction and installation of new wellhead platforms, as well as the continuous drilling of additional production wells to sustain production levels. 2 G2/61 (Bongkot) OP Production PTTEP 100% 748 23 • The project increased gas delivery above the Contractual Delivery Capacity (CDC). The project undertook the construction and installation of wellhead platforms, along with continuous development drilling activities. 3 Arthit OP Production PTTEP Chevron MOECO 80% 16% 4% 375 17 • The project increased gas delivery above the Contractual Delivery Capacity (CDC). The project continues to drill production wells to maintain production capacity. 4 Contract 4 (Pailin) JV Production PTTEP Chevron MOECO 60% 35% 5% 438 17 • The project increased gas delivery above the Contractual Delivery Capacity (CDC). • The project continues to drill production wells to maintain the production plateau. • The petroleum concession was extended for an additional 10-year period, from 15 January 2028 to 14 January 2038. 5 MTJDA B17-01 JOC Production PTTEP PC JDA 50% 50% 308 11 • The project increased gas delivery above the Contractual Delivery Capacity (CDC). • The project continues to drill production wells to maintain production levels. 6 MTJDA A18 JOC Production PTTEP PC JDA 50% 50% 386 3 • New PSC approved by the Thai and Malaysian Cabinets; PSC and GSA signing expected in Q3’2026. 7 Sinphuhorm OP Production PTTEP MH Energy Thailand 90% 10% 97 0.2 • The project is undergoing a partial planned maintenance shutdown to improve well performance and production capacity, with completion expected in Q3’2026. 8 B8/32 & 9A JV Production PTTEP Chevron MOECO KrisEnergy Palang Sophon 25% 51.66% 16.71% 4.63% 2% 75 13 • The project continues to drill additional development wells to maintain the production plateau. E&P Projects Detail – Thailand 41 Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project ** Production volume represent average volume for 100% of the project in Q2/2026 *** Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship/ JV = PTTEP Joint Venture Partner
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Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project ** Production volume represent average volume for 100% of the project in Q2/2026 *** Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship/ JV = PTTEP Joint Venture Partner **** Divestment of 40% PI to Valeura Energy, pending completion Project Name Status Phase Participating Interest* (%) Production Volume Latest StatusGas (MMSCFD) Liquid (KBPD) 9 G12/48 OP Production PTTEP 100% 5 - • Normal operations 10 E5 JV Production PTTEP MH Energy Thailand 20% 80% 5 - • Normal operations 11 G4/43 JV Production PTTEP Chevron MOECO Palang Sophon 21.375% 51% 21.25% 6.375% 5 7 • Normal operations 12 G4/48 JV Production PTTEP Chevron MOECO 5% 71.25% 23.75% 0.04 0.02 • Normal operations 13 L53/43 & L54/43 OP Production PTTEP 100% - 0.7 • Normal operations 14 PTTEP1 OP Production PTTEP 100% - 0.2 • Normal operations 15 S1 OP Production PTTEP 100% 3 Crude: 24 KBPD LPG: 164 MTD • The project continues to undertake development and production drilling activities to maintain production levels. 16 L22/43 OP Production PTTEP 100% - 0.05 • Normal operations 17 G9/43 OP Exploration PTTEP 100% - - • Activity suspended (located in Overlapping Claims Area between Thailand and Cambodia) 18 G1/65 OP Exploration PTTEP 100%**** - - • Geological studies underway to support 2027–2028 exploration drilling. 19 G3/65 OP Exploration PTTEP 100%**** - - • Geological studies underway to support 2027–2028 exploration drilling. • The project has initiated the Final Investment Decision (FID) approval process for the Bussabong area. 20 L27/43 OP Exploration PTTEP 100% - - • The project is preparing P&A work plan for safety and integrity, and long-term development plan for DMF discussion. E&P Projects Detail – Thailand 42
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Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project ** Production volume represent average volume for 100% of the project in Q2/2026 *** 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) - Others OP (Kikeh) OP (SNP) (40%) JV (GK) (14.80%) OP (Others) Production Exploration PTTEP Pertamina Petronas PTTEP Pertamina Petronas PTTEP Pertamina Petronas PTTEP Petronas Pertamina 56% 24% 20% 22.4% 9.6% 8% 7.17% 3.07% 2.56% 42% 40% 18% 4 10 • The Kikeh and SNP fields are undergoing a planned maintenance shutdown to support the restoration of the Kikeh FPSO. • The project completed the drilling of two additional production wells under the Kikeh Phase 3B development plan. • The project is undertaking 3D seismic reprocessing and geological studies to support exploration drilling to fulfill the minimum work commitment by 2028. 2 Malaysia SK309 & 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% 142 14 • Normal operations • Patricia development well completed to enhance production, with first production in June 2026. 3 Malaysia Block H - Rotan - Others OP (Rotan) OP (Others) Production PTTEP Pertamina Petronas PTTEP Petronas Pertamina 56% 24% 20% 42% 40% 18% 244 0.2 • Normal operations E&P Projects Detail – SEA 43
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Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project ** Production volume represent average volume for 100% of the project in Q2/2026 *** 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) 4 Malaysia SK408 - Gorek - Larak - Bakong - Jerun - Teja, Pepulut JV JV Production Exploration PTTEP TotalEnergies Shell PSCB 9.998% 30.002% 30% 30% 673 17 • Normal operations • The project received approval for the Field Development Plan (FDP) for the Teja and Pepulut gas fields. The Final Investment Decision (FID) is targeted within 2026, with first gas expected in 2029. 5 Malaysia SK405B - Sirung -Chenda - Others OP OP Development Exploration PTTEP Petronas MOECO 49.5% 25% 25.5% - - • Final Investment Decision (FID) for the Sirung and Chenda fields has been approved in Q1’2026. The project commenced EPCIC activities in Q2’2026. First production is expected in 2028. 6 Malaysia SK410B - Lang Lebah - Paprika OP Exploration PTTEP KUFPEC Petronas 42.5% 42.5% 15% - - • For the Lang Lebah Field, the project was finalizing the development plan and re-engineering activities to enhance the project’s economic viability. • For the Paprika field, the Front-End Engineering Design (FEED) has been completed, and approval of the Field Development Plan (FDP) is expected in Q3’2026. This will support the Final Investment Decision (FID), with first production expected in 2029. 7 Malaysia SK417 - Nangka - Dokong OP Exploration PTTEP Petronas 80% 20% - - • For the Nangka field, The Field Development Plan (FDP) was approved in Q1’2026. and the project is progressing toward the Final Investment Decision (FID) within 2026, with first production expected in 2029. • For the Dokong field, the project is in the Front-End Engineering Design (FEED) phase and expects to reach Final Investment Decision (FID) within 2027, with first production expected in 2030. E&P Projects Detail – SEA 44
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Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project ** Production volume represent average volume for 100% of the project in Q2/2026 *** 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 SK438 - Babadon OP Exploration PTTEP Petronas 80% 20% - - • The Field Development Plan (FDP) was approved in 2025. The project is in the process of obtaining approval for the Final Investment Decision (FID), which is expected to be completed within 2026, with first petroleum production expected in 2028. • Meanwhile, 3D seismic data reprocessing is ongoing and is expected to be completed by Q3’2026. 9 Malaysia SK314A OP Exploration PTTEP Pertamina Petronas 59.5% 25.5% 15% - - • The project is undertaking geological studies to assess petroleum potential in additional exploration areas to support exploration planning. • Meanwhile, 3D seismic data reprocessing is ongoing and is expected to be completed by Q3’2026. 10 Malaysia SB412 OP Exploration PTTEP TotalEnergies 60% 40% - - • The project assessed petroleum potential and identified preliminary exploration well locations, with drilling expected to commence in Q4'2026. 11 Malaysia SK325 JV Exploration PTTEP Petronas PETROS 32.5% 60% 7.5% - - • The project identified preliminary exploration well locations in the southern area, with drilling expected in Q3'2026. • The project conducted geological studies and further petroleum potential assessments in the northern area. E&P Projects Detail – SEA 45
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Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project ** Production volume represent average volume for 100% of the project in Q2/2026 *** 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) 12 Myanmar - Yadana OP Production PTTEP MOGE 62.963% 37.037% 309 - • Normal operations • The project is also currently undergoing exploration activities. 13 Myanmar - Zawtika (M9 & a part of M11) OP Production PTTEP MOGE 80% 20% 312 - • The project has continued to progress in line with the development plan. The drilling activities for Phase 1E are ongoing to maintain production levels. 14 Myanmar - M3 OP Exploration PTTEP 100% - - • The project made the Final Investment Decision (FID) for the development of the Aung Sinkha field in Jul’2026. • The first production is expected in 2028. 15 Vietnam 9-2 JOC Production PTTEP PVN Pharos Energy 25% 50% 25% 8 3 • Normal operations • The project is currently drilling additional production wells to support future production. 16 Vietnam 16-1 JOC Production PTTEP PVN Pharos Energy OPECO 28.5% 41% 28.5% 2% 4 13 • Normal operations 17 Vietnam B & 48/95 JV Development PTTEP PVN MOECO 8.5% 65.88% 25.62% - - • The Final Investment Decision (FID) was approved in 2024. • The project is currently under Phase 1A development, with first production expected in late 2027 at 490 MMSCFD combined. 18 Vietnam 52/97 JV Development PTTEP PVN MOECO 7% 73.4% 19.6% - - 19 Natuna Sea A JV Production PTTEP Harbour Energy KUFPEC Petronas Pertamina 11.5% 28.67% 33.33% 15% 11.5% 112 - • Normal operations E&P Projects Detail – SEA 46
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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 for Dalma Gas, Hail and Ghasha, and SARB Deep Gas fields. • The concession is set to produce approximately 1.8 BSCFD of gas and 150,000 BPD of crude oil and condensate in the long-term. 2 Abu Dhabi Offshore 2 - Waset - Others JV (Waset) JV (Others) Exploration 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 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%. • 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 JV Exploration PTTEP Eni 30% 70% - - • The project is in the second exploration period and is in preparation for appraisal drilling in accordance with the remaining exploration commitments. 4 Oman Block 6 (PDO) JOC Production PTTEP Energy Development Oman Shell TotalEnergies 2% 60% 34% 4% - 692 • Normal operations 5 Oman Block 53 JV Production PTTEP Occidental OOCEP Indian Oil Mubadala 1% 47% 20% 17% 15% - 48 • Normal operations 6 Oman Block 61 JV Production PTTEP BP Makarim Gas Development Petronas 20% 40% 30% 10% 1,604 62 • Normal operations E&P Projects Detail – Middle East 47 Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project ** Production volume represent average volume for 100% of the project in Q2/2026 *** Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship/ JV = PTTEP Joint Venture Partner
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Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project ** Production volume represent average volume for 100% of the project in Q2/2026 *** Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship/ JV = PTTEP Joint Venture Partner **** Note: Mexico Block 12 (2.4) projects are currently pending regulatory approval for relinquishment. 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 progressing with construction of LNG plant and installation of offshore production facilities, with first production expected by 2028. 2 Algeria 433a & 416b (Bir Seba) JOC Production PTTEP PVN Sonatrach 35% 40% 25% - 17 • Normal operations 3 Algeria Hassi Bir Rekaiz (HBR) JOC Production PTTEP Sonatrach 49% 51% - 16 • Normal operations • The Final Investment Decision (FID) for HBR Phase 2 was approved in 2025. The project is under development for Phase 2 and aiming 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% 451 3 • Normal operations 5 Algeria Reggane II JV Exploration PTTEP Eni 34% 66% - - • A Production Sharing Contract (PSC) was signed in 2025. • The project is currently assessing the feasibility of accelerating production development. 6 Dunga (Kazakhstan) JV Production PTTEP KMG OOCEP 20% 60% 20% 3 14 • Normal operations E&P Projects Detail – Rest of the World 48
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Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project ** Production volume represent average volume for 100% of the project in Q2/2026 *** 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 • Total capacity 11.4 MTPA of LNG • PTTEP Group has secured LNG offtake from the project of approximately 0.8 MTPA starting from 2026, as part of its LNG portfolio management strategy. 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 49
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Ensuring performance excellence, transparency, and good corporate governanceOrganization Structure
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Ratios and Formula Petroleum Reserves Reserves Replacement Ratio 5-Yr Additional Proved Reserves / 5-Yr Production Volume Reserves Life (years) 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 51 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 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/Day - - - - 49.8 Conversion Table