PTT Exploration and Production Public Company (PTTEP) Invest Malaysia - Invest ASEAN 2025 Presentation summary

Company profile and strategic direction

• Holds 82% market share in Thailand, with a focus on energy security and international growth, especially in Malaysia, Myanmar, the Middle East, and Africa.

• Market capitalization stands at $12 billion, with a FY2024 dividend yield of 8%.

• Strategic pillars include driving value, decarbonization, and diversification for energy transition.

• Five-year investment budget totals $33.6 billion, with $21.3 billion for CAPEX and $12.3 billion for OPEX.

• ESG recognized with SET AA, FTSE4Good, and DJSI World Index membership.

Operational performance and project development

• Q1 2025 sales volume reached 484,218 BOED, with 73% from Thailand and MTJDA.

• Major projects include increased stake in Sinphuhorm, Arthit CCS pilot, and new gas discoveries in Malaysia.

• Ghasha Concession (UAE) targets first production in 2H2025; Abu Dhabi Offshore 2 aims for FID in 2025 and production in 2027.

• Algeria Touat acquisition to add 85 MMBOE in 2P reserves, with completion expected Q2/2025.

• Mozambique LNG project remains under force majeure, with remobilization under consideration.

Financial results and outlook

• Q1 2025 net profit was $488 million, with an EBITDA margin of 72%.

• Unit cost in Q1 2025 was $29.58/BOE, with cash cost at $14.51/BOE.

• Ending cash as of March 2025 was $3.9 billion; interest-bearing debt to equity at 0.25.

• FY2025 sales volume forecast at 505-510 KBOED, gas price ~$5.8/MMBTU, and EBITDA margin 70-75%.

• Credit ratings: S&P BBB+ (Stable), Moody’s Baa1 (Negative), Fitch BBB+ (Stable), TRIS AAA (Stable).