PTT Exploration and Production Public Company (PTTEP) Opportunity Day 2024 Presentation summary

Company overview and strategic direction

• Market capitalization stands at $17 billion, with 64% ownership by PTT and 13% by foreign institutions.

• FY2023 sales revenue reached $9 billion, with a production volume of 638 KBOED and a competitive cash cost of ~$14/BOE.

• Strategy focuses on energy security for Thailand, international growth, decarbonization, and diversification into renewables and technology.

• Emphasis on maximizing production, cost competitiveness, CCS, hydrogen, offshore wind, and digital transformation.

• Recognized for sustainability with high ESG ratings and inclusion in major indices.

Operational highlights and portfolio

• Maintains a well-diversified E&P portfolio across Thailand, Southeast Asia, Middle East, Africa, and Central Asia.

• Major assets include G1/61 (Erawan), G2/61 (Bongkot), Arthit, and international projects in Oman, UAE, Algeria, and Mozambique.

• G1/61 achieved 800 MMSCFD production in March 2024, with ongoing drilling and efficiency initiatives in the Gulf of Thailand.

• Recent completion of Seagreen Offshore Windfarm investment in Scotland and awarded green hydrogen projects in Oman.

• 5-year CAPEX allocation is 90% E&P and 10% beyond E&P, supporting energy transition and technology ventures.

Financial performance and position

• Q2 2024 net profit was $653 million, up 25% QoQ and 7% YoY, with 6M24 net profit at $1.18 billion.

• Sales volume in Q2 2024 was 506,709 BOED, a 7% QoQ and 14% YoY increase; average selling price was $47.01/BOE.

• Unit cost in Q2 2024 was $28.96/BOE, with cash cost at $14.51/BOE; EBITDA margin reached 77%.

• Strong financial position with $3.75 billion in cash (June 2024), debt-to-equity ratio at 0.24, and average cost of debt at 3.94%.

• 1H2024 dividend set at THB 4.25/share, with a payout ratio of 49% of net profit.