PTT Exploration and Production Public Company (PTTEP) investor relations material

Strategic direction and five-year plan

• Focus on ensuring national energy security and expanding international growth, with a five-year investment plan (2026–2030) totaling $33.3 billion, targeting a sales CAGR of 3–4% and sales volume of ~560 KBOED in 2026, rising to 870 KBOED by 2030.

• Strategic pillars include maximizing production, sustaining cost competitiveness, and driving organic growth through exploration and development projects in Thailand, Malaysia, Myanmar, the Middle East, and Africa.

• Decarbonization targets include a 30% GHG intensity reduction by 2030 and 50% by 2040 (from 2020 base), with a net-zero commitment by 2050, supported by CCS projects and investments in future energy technologies.

• Diversification into energy transition businesses such as CCSaaS, blue hydrogen, offshore wind, and tech ventures, including AI, robotics, and solar power, to support long-term sustainability.

• Consistent dividend policy with a payout ratio of ≥30%, and a 2025 payout of 59% of net profit, reflecting strong shareholder returns.

Operational and financial performance

• Achieved record-high Q1 2026 sales volume of 553 KBOED, driven by maximizing domestic production above contractual levels and recent acquisitions.

• Maintained competitive unit cost at $27.97/BOE in Q1 2026, reflecting effective cost management and economies of scale.

• EBITDA margin reached 71% in Q1 2026, with a robust financial position, low gearing (debt-to-equity 0.24), and strong cash flows supporting future investments.

• Gas price remains resilient compared to market LNG prices, with a Q1 2026 average of $5.81/MMBTU; sales volume guidance for FY2026 is ~560 KBOED.

• Credit ratings remain strong: S&P BBB+, Moody’s Baa2, Fitch BBB+, and TRIS AAA, all with stable or positive outlooks.

Key project and business updates

• Major E&P projects in Thailand, Malaysia, Myanmar, Oman, UAE, Algeria, and Mozambique are progressing, with new developments and FIDs targeted for 2026–2028.

• Arthit CCS project, Thailand’s first offshore CCS, targets first CO₂ injection in 2028, supporting national decarbonization goals.

• Seagreen Offshore Wind Farm acquisition (25.5% indirect interest) completed, providing stable cash flow and displacing 2MMTCO2e GHG emissions annually.

• Ongoing investments in AI, robotics, and digital platforms to enhance operational efficiency and support new business growth.

• Strong ESG performance with top-tier ratings (SET AAA, FTSE4Good, MSCI BB), and inclusion in Dow Jones Sustainability Indices.