AM Q4 2020 - Vfinal

2020 Results
Analysts Meeting
1 February 2021
Disclaimer
Forward-looking Information
The information, statements, forecasts and projections contained herein reflect the Company’s current views with respect to future events and financial performance. These views are based
on assumptions subject to various risks. No assurance is given that these future events will occur, or that the Company’s assumptions are correct. Actual results may differ materially from
those projected.
Petroleum Reserves Information

In this presentation, the Company discloses petroleum reserves that are not included in the Securities Exchange and Commission of Thailand (SEC) Annual Registration Statement Form 56-
1 under “Supplemental Information on Petroleum Exploration and Production Activities”. The reserves data contained in this presentation reflects the Company’s best estimates of its
reserves. While the Company periodically obtains an independent audit of a portion of its proved reserves, no independent qualified reserves evaluator or auditor was involved in the
preparation of reserves data disclosed in this presentation. Unless stated otherwise, reserves are stated at the Company’s gross basis.
This presentation may contain the terms “proved reserves” and “probable reserves”. Unless stated otherwise, the Company adopts similar description as defined by the Society of Petroleum
Engineers.
Proved Reserves - Proved reserves are defined as those quantities of petroleum which, by analysis of geological and engineering data, can be estimated with reasonable certainty to be
commercially recoverable, from a given date forward, from known reservoirs and under current economic conditions, operating methods, and government regulations.
Probable Reserves - Probable reserves are defined as those unproved reserves which analysis of geological and engineering data suggests are more likely than not to be recoverable.
2 Energy Partner of Choice

Effective Crisis Management
2020 2 BLOCKS
• Mitigation volatile oil price New Exploration
• Quarantine, Evacuation of Overseas
personnel, Adjusted Rotation pattern,
Digital readiness, Work from Home
720 MMUSD In UAE and Oman
Oman onshore Block 12, UAE Offshore 3
IN REVIEW Net Income
354 KBOED 30.5 $/BOE
Covid-19
+1% from 2019
New volume from Murphy & Partex
offset by Low energy demand
2nd Quartile Unit Cost
Improved from $31.7 in 2019 2 DISCOVERIES
In Mexico
Oil price crisis
Supply and Demand
shocks
7PARTNERSHIPS 2 JOINT VENTURES SOCIAL
SUPPORT
Nautilus Robot
Winner Breakthrough Technological
Donation and relief activities
to fight against COVID-19
beyond MOU stage
35 MMTHB
Project of the Year, ADIPEC 2020
Domestic
8.6 MMTHB
Overseas
Myanmar Gas-to-Power TOP QUARTILE
NTP LTIF & TRIR
Notice to Proceed Approved by Myanmar Government
Significant milestone into Power business
SAFETY RECORDS
IOGP STANDARD
53 AWARDS
& Recognition
GRC, SD, CSR,Partner
Energy IR of Choice
PTTEP Growth drivers in 2021 and Beyond
2027-2030
2023-2026
2021-2022
Long-term
Medium-term
Short-term ► Exploration campaigns
► Myanmar Gas-to-Power Future prospects in Oman/UAE/MY
► G1/61 and G2/61 New business in Power, securing gas
+ Volume & Synergy Benefits market for upstream developments ► Other businesses
New energy technologies
► Sabah H ► Sarawak SK410B (Lang Lebah)
+ 270 MMSCFD Short-term
Production Capacity* New development for future growth
►
Oman Block 61**2021-2022 ► Algeria HBR Phase II
Immediate growth addition and LT + 30-50 KBOED Production Capacity*
revenue streams
Mozambique Area 1
► Algeria HBR Phase I ► Drive LNG value chain with 13.1 MTPA
+ 10-13 KBOED Production Capacity* initial capacity*
► ARV scaling up
Generating new revenue streams
Note: * The amounts of production capacity only represent a 100% share, not PTTEP’s participating interest in the project.
** New M&A announced on Feb 1, 2021
Energy Demand and Prices
Energy Partner of Choice

Oil Market update
Short-term upside from Demand recovery. Long-term pressure from Energy Transition.
Global Oil Demand & Supply Outlook Oil Prices Outlook
80 Dubai Brent Min-Max Consensus*
110 2020 actual
Global Demand Brent 41.84 US$/BBL
Dubai 42.27 US$/BBL
60 Spread -0.44 US$/BBL
Analyst Consensus
US$/BBL
Mb/d
90 40
Global Supply
20 2019 actual
Brent 64.0 US$/BBL 2021 consensus 2022 consensus
Dubai 63.0 US$/BBL Q1 Brent 47 US$/BBL FY Brent 55 US$/BBL
Spread 1.0 US$/BBL FY Brent 50 US$/BBL
70 0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Jan-19
Jul-19
Jan-20
Jul-20
Jan-21
Jul-21
Jan-22
Jul-22
Apr-19
Oct-19
Apr-20
Oct-20
Apr-21
Oct-21
Apr-22
Oct-22
2019 2020 2021 2022 2019 2020 2021 2022
Source: Global Crude Oil Markets Short-Term Outlook: Fundamentals - January 2021, IHS Markit Source: Thomson Reuters Monthly Poll on Oil Prices Analyst, 31 December 2020
Key factors to
monitor
COVID-19 Situation Economic Recession Green Energy Policies OPEC+ Production US shale US Sanction Policy on
& Vaccine Distribution & Stimulus Measures under Biden cuts agreement Shut-in/Bankruptcies 6 IranPartner
Energy & Venezuela
of Choice
Gas Market update
Short-term recovery to pre-COVID level. Long-term growth as transitional energy source.
Global LNG Demand & Supply Outlook LNG Spot Prices Outlook
700
Quarterly Yearly
16
Demand 14
Exceptionally cold winter
in NEA drawing down
600 inventory, Supply issues
12 persist, Tight shipping
Supply disruption, logistics Woodmac (Jan’21)
10 Tight shipping
USD/MMBTU
500 availability, Strong
MTPA
8
demand in winter FGE* (Dec’20)
Under-construction Supply
400 6
PIRA* (Dec’20)
4 Warm weather, Japan Global supply availability
300
Operating Supply starts using fuel oil in outstripping demand
2 power generation
200 0
2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21 Q4'21 2022 2023 2024 2025 2026
Source: FGE, 7 January 2020 Source: Information as of January 2021. FGE/PIRA published latest price forecast for 2021 only.
Key factors to
monitor
COVID-19 Situation LNG Liberalization Green Energy Policies Supply from

& Vaccine Distribution & Domestic Gas under Biden new projects 7
Production in Asia
Strategy and Projects progress

Strengthen core E&P
Key Assets Transition Existing Asset value maximization
G1/61 (Erawan) G2/61 (Bongkot) Exploration Accelerate progress in Lang Lebah,

Algeria HBR and Mozambique Area 1
• Prioritize site access and • On track – deliver gas at the Value creation for assets in GoT, Malaysia,
commence equipment & minimum volume stated in PSC Myanmar and Middle East
facilities installation 2022@200MMSCFD New Exploration & Appraisal drilling activities
for long-term growth
• Signing GSA with buyers 2023@700MMSCFD
• Human resources • New production platforms
integration and G1 working installation in 2021 and 2022 SK410B (Lang Lebah) Appraisal well result
model
• Very positive result with
Apr 2022
Operatorship amount of gas discovery
Handover
beyond previous estimation
Facilities • Completed Pre-Feed study
Dec 2021
Installation with Front End Engineering
Design in 2021
Apr 2021
GSA & • FID planned in 2022
Preparation work
Remark : Transition of Murphy and Partex assets are completed.

LNG value chain strategy
LNG Value Chain*
• PTTEP has put footprints in LNG value chain
through upstream and midstream liquefaction Thailand
in various world-class projects Oman Synergy with PTT group
• PTTGL established in June 2017 as JV • 50% by PTTEP
OLNG • 50% by PTT
between PTT and PTTEP, aiming to be trading • 2% investment
• The only LNG facility in
and marketing arm to improve company’s Oman
midstream operation capabilities.
• Support country’s vision to become a
Regional LNG hub in SEA
Mozambique Malaysia
MZA1
On track to deliver first MLNG Train 9
10% Investment in
LNG in 2024 MLNG Train 9 by PTT
Global LNG since 2017
*Strategic fit to PTT Group LNG value chain : Regional LNG hub 10 Energy Partner of Choice
*LNG Value Chain : Upstream, Liquefaction, Shipping and Regasification
New Business – Supporting Medium to Long-term growth
Myanmar - Gas to Power AI & Robotics
~2 billion USD investment covering upstream ROV 1st award tender from Mubadala; Nautilus preparing
developments, pipelines network and 600MW Power
Subsea for commercialization; Thai Oil AUV service completed
Plant plus transmission line
“Integrated Energy Solutions,

Supply ~10% of Myanmar’s existing installed power Sales and service of sprayer drones, farm management APP,
plant capacity AgriTech
and forest management
expecting FID in 2022”
Electric Power Generation Enterprise (“EPGE”) as

buyer, with 20-year term and 5- year extension from
COD DroneBiz
Pursuing business partnerships and approaching customers
Gas-Fired Important milestone in Power business
Power Plant
HealthTech Xterilizer UV-C robot re-launched & scaling; Holistic business
blueprint in progress
Completed Next Steps
M3
GSA / PPA signing Renewables
Zawtika Notice to Proceed
Approved in 2020 Engineering preparation • JV with experienced partner
Funding arrangements • Exploring in SEA and other potential areas for operating and
constructing phases of Wind/Solar projects

Sustainability and ESG

Delivering Sustainability & Positive Societal Impacts
2030 Targets
“Energy Partner of Choice”
through Competitive Performance and GHG Reduction Circular Model for E&P Ocean for Life
Innovation for Long-term Value Creation
25% ≥50% of main structures reused

Net Positive Impact
of Biodiversity & Ecosystem Services
in Offshore Operations
Reduction of (2019 base year)
Zero
GHG emissions intensity
(2012 base year)
waste to landfill ≥50%
Increase in Community Income for
local community that participated
in our program
(before project implementation)
2020 Key Performance
Accumulative GHG Emissions Reduction Oil and Chemical Spill Rate
(Unit: Absolute (tonne CO2 equivalent) ) (Unit: Tonne per million tonne of petroleum production)
8% Reduction of GHG Emission Intensity in 2020 Towards Zero Spills Aspiration
(compared to 2012 base year) 8.3
1,982,215 6.6
1,410,502
4.3
833,010 3.3
2.5 IOGP
188,417 2.2 2.3
Benchmark
2.9 0.1 0.9 0.43 0.3 0.6 0.6 0.1
2013 2016 2018 2020 2013 2014 2015 2016 Energy
2017 2018Partner
2019 of 2020
Choice
Key Highlights
GHG Reduction Circular Model for E&P Ocean for Life
Zero Waste to Landfill MoU with Kasetsart University
Achieved zero hazardous waste to landfill in 2020
Topside Reuse Project
1st Topside Reuse was introduced at Arthit Operation in 2021
• Baseline Study of Microplastics in the GoT

• 1st Sampling conducted in Q4/2020
MoU with Department of Marine and Coastal Resources
10-year cooperation
Pilot Recycled Drill Cuttings Road (2020-2030) to support
Ocean for Life target in 2030
Renewable Energy 1st Pilot completed at PTTEP Technology and Innovation
Centre (PTIC)
> 70% of energy used at offshore remote platforms are from
renewable energy (Thailand) CSR Projects
• Aquatic Animal Hatchery Learning Center, Sea Turtle Conservation
• "H.T.M.S. Prab and Sattakut" underwater learning sites
• Mangrove Plantation
• Coastal Conservation Area and Fish Home
• Ocean Waste Management
• Sea Food Product Value Enhancement

Acquisition of 20% stake in Oman Block 61

Executive Summary
Acquisition of 20% stake in Block 61, a crucial asset for Oman’s energy security
Deal size Deal Completion Pre transaction structure
bp Makarim PC
Exploration Gas Oman
2,450* Within 2021 (Epsilon)

Limited
(Operator)
Development
LLC
Ventures Ltd
subject to regulatory
Million USD approvals
60% 30% 10%
Post transaction structure

◼ Strategic fit with prolific Block 61 contains Khazzan gas field and the recently commissioned
Ghazeer gas field bp Makarim PTTEP PC
Exploration Gas MENA Oman
◼ Resilient gas price with low market risk: 100% sell to Oman Govt at Fixed price (Epsilon) Development Limited Ventures Ltd
Limited LLC
(Operator)
◼ Immediate addition to sales volume, reserves and cashflows
◼ Transaction will be funded with cash from PTTEP’s balance sheet
40% 30% 20% 10%

*exclusive of USD 140 million of contingent payments, subject to customary net working capital and closing adjustments.

Asset Overview
World-class onshore gas block in central Oman. Largest tight gas development in Middle East.
Asset highlights
Block 61
✓
Critical gas asset for the
energy security of Oman Off-taker
~ 35% of current gas supply* Oman government
Reservoirs
✓ Cash flow stream from gas

sales at fixed gas prices
Tight clastic
Development Concept
Grid drilling and
hydraulic fracturing
✓
Secured Long-term GSA
totaling 1.5 BCFD with Take-or- Phase 1 : Khazzan
Pay obligation FID 2013, 1st Gas 2017
OMAN Phase 2 : Ghazeer
✓
FID 2018, 1st Gas Oct 2020
Low CAPEX/BOE and
OPEX/BOE
Combined Production
Capacity: Gas 1500MMSCFD
and Condensate >65KBOED
✓ Developing 10.5 TCF of gas

resources
Note: * Source from Wood Mackenzie

Plant Overview
Oman Block 61
Central Processing Facilities (CPF) Phase II

Investment Rationale
Serving both strategic goals and operational efficiency
“Expand” presence with potential
Strengthen core E&P portfolio synergies in strategic location
• Securing interest in 3 of the top 5 upstream • Strengthen PTTEP’s position for future growth
assets in Oman (Block 6, Block 53 and Block 61) opportunities in Oman, including potential OLNG
• The asset in early producing phase that provides extension
long-term committed volume with substantial
contribution in term of sales volume and reserves • Potential synergies across existing Middle East
• Crucial asset that supports gas demand and LNG assets
Market in Oman
Resilient portfolio with downside World class partnerships

protection
• Rebalance existing portfolio in the Middle East • Partnership with prudent operator with
to incorporate more gas exposure and limited proven past performance, bp
exposure to commodity price volatility from • Further strengthen partnership with NOC
fixed gas price formula Knowledge transfer (OQ and Petronas)
• Leverage technology transfer from bp,
an industry leader in tight gas development
• LNG supply & production capabilities
PTTEP’s Footprint in Middle East post-acquisition
Stronger presence for both Exploration and Production of Key assets in Middle East
20%
Block 61
1.5 BCFD
Oman’s key gas asset, instrumental in
2% providing the nation’s gas supply
ADNOC Gas Processing
2%
Block 6*
Capacity 8 BCFD
610 KBOED
70% of Oman oil production
30% Abu Dhabi

Offshore Blocks
1, 2 and 3 Types of asset
2%
UAE Oman LNG* Upstream
Capacity 10.4 MTPA Midstream

Block 12
Status
20%
OMAN
1% Production
Mukhaizna (Block 53)*
120 KBOED Exploration
13% of Oman oil production
Note: 1 KBOED : 6 MMSCFD; All sales volume in map are gross (100%); Logos in map denotes
operator of asset / project Midstream
* Denotes assets part of Partex acquisition

Immediate Contribution to PTTEP
Adding volume, reserves and cashflows at lower unit cost
Strong Portfolio Robust Financial Performance
10% Increase in Sales Volume* High EBITDA Margin
~ 1 $/BOE Reduction in Unit Cost

Substantial Reserves Addition
Positive Net Cashflow
More gas exposure with resilient price Self funding from producing asset
Note: * The sales volume addition is based on 5 year average with full year effect from 2022.
Financial Results - 2020

Results - Net Income
Softened from lower selling price & energy demand despite volume increase from Murphy and Partex
Q4/20 (QoQ) FY2020 (YTD)
Unit: million USD Unit: million USD 1,569
124 -54%
230 -65% 720
35 81 1,445
195 168 781
Q3 20 Q4 20 -87
2019 2020 -61
Recurring NI Non recurring NI Recurring NI Non recurring NI Net Income
Recurring (-27 MMUSD or -14%) Recurring (-664 MMUSD or -46%)

+11% -5% +1% -18%
From Contract 4, Bongkot, Increase from Partex & Malaysia Average Following a slump in
Average Lagging gas price Sales Volume Offset with a decline in GoT Selling Price Global oil price
Sales Volume Partex and Malaysia Selling Price adjustment in Q4
Non-recurring (-122 MMUSD or ->100%) Non-recurring (-185 MMUSD or ->100%)

Mainly from Tax expense from FX
Mainly from loss on financial instruments and impairment offset with gain on financial instruments

Results – Cash flows and Financial Position
Stormproof financial health to withstand economic uncertainties
2020 CF : Source and Use of Funds Financial Position
68%
EBITDA Margin
Unit: million USD Unit: million USD
3,639* 2,858** 22,285 22,493 Total Assets
53 Others
Debenture 840
issuance 671 Dividend paid
919 Repayment of Bonds and Hybrid 7,002 6,762 Other Liabilities
Free
Bonds and interests
Cash flow from 2,799 Cash flow
operations 1,584 1,215 CAPEX 3,442 3,932 Interest-bearing Debt
3,804 11,841 11,799

Equity
3,023
2019 Sources Uses 2020 2019 2020

Remark: * Net of adjustment for the effect of exchange rate changes on cash and cash equivalents
** Excludes cash flows for investing in short-term investments (Fixed deposit > 3 months)
Debt Profile
D/E ratio
0.29x 0.33x
Weighted Average
Loan Life (Years) 13.84 14.08
Weighted Average
Cost of Debt (%)
4.41 3.44 Fixed : Floating 82:18 82:18

Remark: Debt profile excludes Hybrid bonds
Dividend and Outlook
Glimpse to 2021
2021 Guidance (with Oman Block 61) Dividend Payment History Credit Rating/Outlook
Guidance
Average Sales Volume* Average 2020
Gas Price ** International
THB per share
KBOED USD/MMBTU 1H 2H 6.00
Q1 Q1 6.00
5.00
~365 ~5.7 4.00 3.25
4.25
3.25
3.75
4.25 BBB+ / Stable
BBB stand-alone rating
Full year Full year 2.75 2.75***
2.00 2.50
~398 ~5.5 0.00 0.75 1.50 1.75 2.25 1.50 BBB+ / Stable
BBB stand-alone rating
Unit Cost EBITDA Margin 2016 2017 2018 2019 2020
USD/BOE % of Sales Revenue
Q1 Payout Ratio 98 90 55 49 77
Q1 & Full year
~29-30 (% of net income)
Payout Ratio 79 64 51 53 71
Baa1 / Stable
Baa2 stand-alone rating
Full year
~70% (% of recurring
net income)
National
~28-29 Schedule for 2H2020 Dividend Payment***

XD Date 1 March 2021
Record date 2 March 2021
Note: Payment Date 26 April 2021 AAA / Stable
* Include sales volume from ADNOC Gas Processing (AGP)
** Based on average Dubai oil price in 2021 at 50 $/BBL
*** Subject to approval from 2021 Annual General Shareholders’ Meeting
Thank you and Q&A
You can reach the Investor Relations
+66 2 537 4000 team for more information and inquiry
through the following channels
Please scan here to

take the survey
http://www.pttep.com
IR@pttep.com 26 Energy Partner of Choice
Supplementary information
Financial Results YE2020 28-32
Industry and Thailand Energy Updates 33-35
Sustainable Development 36-40
Reserves at Year-end 2020 41
Key Project Highlights by Region 42-50
Project Details 51-55

Organization Structure 56
Ratio and Formula 57
Results – Net Income
Softened from lower selling price & energy demand despite volume increase from Murphy and Partex
Unit: MMUSD
Statements of Income 2020 2019 %YTD Q4 20 Q3 20 % QoQ Q4 19 % YoY
Total Revenues 5,357 6,413 (16%) 1,348 1,305 3% 1,841 (27%)
Sales 5,043 6,046 (17%) 1,292 1,228 5% 1,755 (26%)
Sales Volume (BOED) 354,052 350,651 1% 381,285 344,317 11% 395,028 (3%)
Sales Price (US$/BOE) 38.92 47.24 (18%) 36.85 38.77 (5%) 48.28 (24%)
Gain on Financial Instruments 99 - 100% - 27 (100%) - -
Total Expenses 4,637 4,844 (4%) 1,267 1,075 18% 1,457 (13%)
Major Expenses:
Operating Expenses 795 751 6% 234 181 29% 281 (17%)
Exploration Expenses 104 128 (19%) 27 8 238% 28 (4%)
G&A 314 384 (18%) 117 69 70% 133 (12%)
DD&A 2,086 2,026 3% 548 515 6% 578 (5%)
Loss on Financial Instruments - 109 (100%) 72 - 100% 41 76%
Income Tax Expenses 603 677 (11%) 79 140 (44%) 189 (58%)
Net income 720 1,569 (54%) 81 230 (65%) 384 (79%)
Recurring Net Income 781 1,445 (46%) 168 195 (14%) 379 (56%)
Non-recurring Net Income (61) 124 (>100%) (87) 35 (>100%) 5 (>100%)
Major items: Non-recurring Net Income - Increase (Decrease) from
Tax from Effect of FX (95) 150 (>100%) 10 (2) >100% 42 (76%)
Oil Price Hedging 112 (45) >100% (38) 10 (>100%) (25) (52%)
Effect from FX* 16 28 (43%) (26) 29 (>100%) 9 (>100%)
Impairment Loss on Assets (91) - (100%) (44) - (100%) - (100%)
* Consisted of Gain/(Loss) on FX and Forward Contract

Results – Sales Volume and Avg. Selling Price
Solid volume growth from Murphy and Partex, offset with low demand in Gulf of Thailand
UNIT: BOED 395,028
400,000
354,052 350,651 381,285 14,576 Rest of World
344,317 23,998
19,323 6,111 12,433 95,174
2020
Other SEA Sales Volume &
300,000 70,560 91,294
85,248 84,258 Revenue
By Product
200,000
Thailand & Volume Mix
273,980 265,993 285,278 MTJDA
249,481 247,626
100,000 Liquid
Gas 33%
67%
0
Sales Price 2020 2019 Q3 20 Q4 20 Q4 19 Revenue Mix

Gas ($/MMBTU) 6.27 6.92 6.22 5.63 6.95
Liquid ($/BBL) 41.55 61.18 41.82 42.61 61.94 GasGas
Liquid
36%
Weighted Avg. ($/BOE) 38.92 47.24 38.77 36.85 48.28 64%
70%
Avg. Dubai ($/BBL) 42.27 63.51 42.88 44.64 62.03
Avg. HSFO ($/BBL) 39.30 58.60 40.35 44.07 43.43
(High Sulphur Fuel Oil)
Note: Include sales volume from ADNOC Gas Processing (AGP)

Results – Unit Cost
Maintain cost at competitive level
Unit : $/BOE
40
30.50 31.71 31.09 33.84
30 29.63
Cash Cost
20 15.88 17.93
Unit Cost 14.40 13.38 15.47
10
-
2020 2019 Q3 20 Q4 20 Q4 19
DD&A 16.10 15.83 16.25 15.62 15.90
Finance Cost 1.96 1.84 1.95 1.91 1.72
Royalties 3.17 4.27 3.32 2.96 4.17
G&A 2.33 2.91 2.13 3.17 3.56
Exploration Expenses 0.80 1.00 0.26 0.76 0.76
Operating Expenses 6.14 5.86 5.72 6.67 7.72
Lifting Cost 4.47 4.31 4.29 4.85 5.42
Note: Unit Cost per 2020 Financial Statements has applied Thai Financial Reporting Standard No. 16 (TFRS 16: Lease), effective 1 Jan 2020
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

Five –Year Plan : Sales Volume Figures have not yet reflected Oman block 61
Maximize value of existing assets, accelerate G1/G2 transitions & maintain key milestones for key projects
In KBOED CAGR +6%
500 436 446 466 462
375 Rest of World
400 354
300 Other SEA
Sales Volume
200 Thailand &
100 MTJDA
0
In MMUSD
2020 2021 2022 2023 2024 2025
6,000 5,617 4,779 4,934
4,196 686 73
34 4,111 OPEX
63 62 (Decommissioning)
4,000 2,900 1,896 1,771 1,778
OPEX
Investment 30 1,545 1,710 (exclude decommissioning)
554 768 819
2,000 1,480 493 481 CAPEX
(Dev & Pre-sanction projects (3))
233 2,095 2,481 2,206 2,264 1,858 CAPEX
1,157 (Producing projects (4))
0
5 Years (2021 – 2025) 2020 2021 2022 2023 2024 2025
CAPEX 14,020
OPEX 9,617 Algeria HBR
Block H: 1H G1/61: April (2) G2/61: March (2) Mozambique LNG: 1H (Full phase): 2H SK410B (1)
TOTAL 23,637 Capacity 270 MMSCFD Capacity 800 MMSCFD Capacity 700 MMSCFD Capacity 13 MTPA
Key Project Start-up Southwest Vietnam: 2H (1)
Capacity 50-60 KBPD Initial Capacity 600-800 MMSCFD
Algeria HBR (phase l): 2H G2/61: April (2) Capacity 490 MMSCFD
Capacity 10-13 KBPD Capacity 200 MMSCFD
Note: (3)(1) Subject to regulatory approval and FID timing (2) According to Production Sharing Contracts signed on 25 February(4) 2019 31 Energy Partner of Choice
Development & Pre-sanction projects include Mozambique LNG , Algeria HBR, SK410B, and Southwest Vietnam Includes exploration and appraisal in all projects and head office CAPEX
Debt Maturity Profile
As of December 2020
700
650
600
600
500
500 480 490
USD Millions
400
349 350
300
200
100
Note: Excludes Hybrid bonds

Unit: USD Millions or equivalent after cross currency swap

Thailand Updates
Domestic gas volume suppressed by LNG import; THB fluctuation continues
Thailand Energy Overview Exchange Rate Movement

(THB/USD)
Natural Gas Supply
MMSCFD
FY 2018 FY 2019 11M2020
Domestic Myanmar LNG 4,719 o Lower energy demand from COVID-19

outbreak
Domestic Myanmar LNG 5,017 o More LNG imports from low LNG spot
prices
Domestic Myanmar LNG 4,912 o Slight decline from Myanmar piped gas
imports due to natural decline
0 1,000 2,000 3,000 4,000 5,000
Natural Gas Consumption Electricity Generation

MMSCFD
Consensus on the exchange rate mostly depends on
GWH
o The concern on the second wave of COVID-19 outbreak
FY 2018 FY 2019 11M2020
FY2018 FY2019 11M2020
Electricity Industry GSP NGV 4,394 56% 2% 18% 14% 10% 190,327
o The uncontained COVID situation in US and the Federal Reserve’s
easing monetary policy guidance weighted down on US
o The rising local political uncertainty including the sudden resignation
of the newly appointed Finance Minister in September
o Profit repatriation and dividend payment of foreign companies also
0 1,000 2,000 3,000 4,000 5,000 0%
Natural 20%
Gas 40%
Hydro60%
Electricity80% Coal
100%
& Lignite supported USD upside
Source: EPPO Imported Renewable Energy Source: Bank of Thailand, Bloomberg
Forecast based on Bloomberg Consensus as of 27 October 2020

Thailand’s Energy Value Chain
PTTEP contributes over 1/3 of Thailand’s petroleum production
11M2020 Thailand’s Oil and Gas Demand FY2020 Thailand Petroleum Production Midstream
Crude Oil &

% by Petroleum Type and Area Gas: operated by PTT
Condensate ~ 1.0m BOE/D Onshore 8%
8% Transmission Pipelines
Imports Gas Gas Separation Plants
72% Offshore
~ 81% 92%
Liquid Oil: PTT participates through
Domestic ~ 19% 28% subsidiaries
by Type by Area
Refineries
% Production by Company
Natural Gas ~ 0.9m BOE/D
Imports ~ 31%
PTTEP Downstream
Domestic 35%
Others Petrochemicals
~ 69%
65% Oil and gas marketing
Source: Energy Policy and Planning Office (EPPO) and Department of Mineral Fuels (DMF)

Thailand’s Oil and Gas Balance
Oil Balance*** Natural Gas Balance****
Maintains stability supply through adequate refining capacity Main driver of the Thailand economy
Import (81%) Indigenous (19%) Gulf of Thailand (63%) Onshore(2%)

Onshore (2%) Import (35%)
897 KBD 205 KBD
SUPPLY
PTTEP
35% Myanmar
Others LNG 46%
65% 54%
Crude/ Crude/ 2,786 Bypass Gas 406 MMSCFD

Condensate Condensate MMSCFD
856 KBD 177 KBD
Total Refining Capacity in Thailand 6 Gas Separation Plants
PRODUCTION
1,242 KBD Total Capacity 2,870 MMSCFD

Imported @ Actual Heat
Refined Crude 106 1,545
Petroleum Export MMSCFD MMSCFD
Products 28 KBD
41 KBD PTT’s Associated Refineries 770 KBD (TOP, PTTGC, IRPC)
Other Refineries 472 KBD (SPRC, ESSO, BCP) Methane
1,517 MMSCFD
Refined Refined 906 MMSCFD
Products Products (20%)
1,013 KBD * 200 KBD
Domestic Export Petrochemical Ethane
Propane
Power (60%)
859 KBD ** 228 KBD Feedstock LPG
(14%) NGL
SALES
Industry (16%)
Industry
Household LPG NGV (4%)
Transportation NGL
(6%)
Source: PTT
Remark: * Refined product from refineries = 944 KBD, including domestic supply of LPG from GSPs and Petrochemical Plants = 95 KBD
** Not included Inventory
*** Information as of 9M20
**** Information as of 9M20
MMSCFD @ Heating Value 1,000 Btu/ft3 35 Energy Partner of Choice
Driving towards Sustainability
“Energy Partner of Choice”

through competitive performance and innovation • Operational Excellence • Conducting business with
for long-term value creation • Capability Development accuracy, transparency,
• Innovation and fairness
From To Technology • Strict compliance with laws
• Health and Safety and regulations
“We” “World” • Good governance and
appropriate risk management
• GHG* Reduction
• Circular Model for E&P
Note: *Greenhouse Gas • Ocean for Life

HPO: Strategies for sustainable long term
Continue to focus on “Execute” while monitoring M&A Opportunity
HPO
Value Creation from Existing Assets Transition of New Assets
Development ► Operatorship transfer for G1/61
Myanmar
Mozambique Area 1 ► Gulf of Thailand capital & operational GRC SVC
S1
On track to deliver first LNG efficiencies and synergy
M3 Thailand ► Increase efficiency and annexation to create
Zawtika
more value in Malaysia
Contract 4
Arthit
Bongkot Sabah H
MTJDA
Sabah K
SK410B
Malaysia
SK309&
SK311
Pre-Development EXPAND: M&A and New Businesses
SK410B : Lang-Lebah
Sustain sales Explore full
volume as potential in Strong path towards FID Opportunistic M&A in Strategic Areas
committed Malaysia and
Legacy Assets Cost Myanmar
Transitioning technology and
Management product builder to Business Builder
Operation Exploration
Continuous Streamline
Cost
Structure
Gas to Power
for efficiency Integrated energy solution and
enhancing value of existing assets

Governance, Risk Management & Compliance
How do we ensure GRC? HPO
▪ Good Corporate Governance and

Business Ethics
Policy GRC SVC
▪ Regulations and Policies for operations
Anti corruption
▪ Board of Directors
Governing ▪ Sub-committees e.g. Risk
Body Management Committee, Audit
Committee and CG Committee
▪ Policy, plan & process

Awareness Communication The NACC Integrity Award
▪ Trainings from National Anti-Corruption Commission (NACC)
GRC Baseline Application to:

▪ 3 Lines of Defense
Human rights
Control/ ▪ Control Self-Assessment (CSA)
Audit
▪ External Assessment by
Global Operations & Suppliers & independent organizations
Newly acquired assets Contractors
Whistle- ▪ CG Hotline
blowing The 2019 Role Model Organization Award
on Human Rights from Ministry of Justices

Stakeholder Value Creation
HPO
GRC SVC
GHG* Reduction Circular Model for E&P Ocean for Life
Growing business, Maximize resource efficiency and Improve biodiversity and
while decreasing GHGs emission zero waste to landfill local wealth
Flare Gas Utilization Energy Efficiency New Design of reusable Topside Reuse Zero Spill Conservation
Smart Logistics & Restoration
WHP and Well Pad
Leakage Prevention Reforestation Part/ Inventory Drill Cuttings Reuse Rig to Reef Baseline
Facility Reuse : Micro-plastic
Refurbished in Road Construction
Achievement Targets in 2030:

25% GHG Intensity Reduction • 50% Reuse of Structure • Improve Positive Value to Biodiversity
GHG from 2012 base year) Waste
• Zero Waste to Landfill Rich • Improve Community Income
Note: GHG = Greenhouse Gas

Awards on Sustainable development
Pursue long-term growth with social and environmental wellness
A member of Down Jones A member of FTSE4Good Communication on Progress (CoP)

A member of THSI for
Sustainability Indices (DJSI) for Emerging Index Series for Advanced Level
the 5th Consecutive year in 2020
7th Consecutive year in 2020 the 5th Consecutive year in 2020
Proven business integrity Exemplary social contributor Green driver to environment

Role Model Organization on Human Rights Award 2020 3G Best Social Empowerment Award 2020 The Excellent Level (G-Gold) of the Green Office
The Department of Rights and Liberties Protection, Global Good Governance Awards Award 2018
Ministry of Justice IF Analytica The Ministry of Natural Resources and Environment
Global CSR Award 2020 (Platinum Winner) Green Leadership Category for T.M.S. Underwater
NACC Integrity Award 2019 The Energy and Environment Foundation Learning Site Project
The National Anti-Corruption Commission (NACC) Global CSR Awards
The Asia Responsible Enterprise Awards 2018
Best CSR Organizer 2019
Asia’s Icon on Corporate Governance 2019 Award BAZNAS of Indonesia Water A List Award
Corporate Governance Asia magazine (The National Zakat Board) Carbon Disclosure Project (CDP)

Reserves at the Year-end 2020 Figures have not yet reflected Oman block 61
Significantly improved reserve life to over 7 years
MMBOE Reserves
Life* 2020 by Geography
1,800 1,647 1,622 10 Years Domestic International
1,622
507 548 1,074 47%
1,200 1,028 7 Years
50%
351 53%
50%
600 1,140 1,074 P1 P1 + P2
677 2020 by Product Type
0 Gas Liquid
2018 2019 2020 1,622
Proved (P1) Probable (P2) 1,074 31%
27%
5-Year Average Proved Reserves Replacement Ratio (RRR) 69%
2018 2019 2020 73%
0.7x 1.5X 1.5X
P1 P1 + P2
• Based on total production of natural gas, condensate, and crude oil (including LPG) of 422 KBOED for the year ended December 31, 2020
• Figures include reserves from equity method

Diversified international portfolio
Central Asia Thailand

First presence in Kazakhstan: Oil sands
PTTEP’s core production base
• Production: Dunga onshore oil • 70% of total sales volume
field from the acquisition of Oil • Key producing assets include Bongkot,
Partex in 2019 Arthit, Contract 4 and S1
• Bongkot (G2/61) and Erawan (G1/61) are
in transition process to ensure production
Oil continuity
North & South America
Opportunities in an early phase: Piped Gas
Southeast Asia
• Deepwater exploration in Brazil Second heartland to PTTEP
and Mexico with prominent • 24% of total sales volume mainly from
and prudent operators Deepwater
Malaysia and Myanmar
(Oil)
Deepwater Gas
• 3rd Largest by resources size in Malaysia
(LNG)
Oil LNG with significant gas discovery in Sarawak
SK 410B Project
• Gas production in Myanmar mostly supplied
Book Value of Assets (by region) into Thailand
• Other producing assets in Vietnam (oil) and
Indonesia (gas)
Africa&ME SE Asia
Other 21% 27% Australasia
Africa Middle East
3% Potential gas development
Thailand An area for growth, key projects include: Presence in UAE and Oman: • Sizable undeveloped gas
• Production: Algeria’s Bir Seba oil field with • 3 offshore exploration blocks partnered with resources in Timor Sea
49% current flow rate of approximately 17 KBPD experienced operator, ENI in 2019-2020
• Development : Algeria’s Hassi Bir Rakaiz • 3 onshore blocks including PDO (Block 6),
as of 12M 2020 with target 1st phase production in 2021 the largest producing oil asset in Oman
Total Assets USD 22.5 billion Mozambique Area 1 with target first cargo in
2024
Information as of 31 December 2020
Thailand, Myanmar and Malaysia
“Coming Home” to maintain strong foundation with full expertise
Thailand Myanmar
Bongkot (66.6667% WI)
• Average natural gas and condensate sales volume • 3 producing gas fields supplying gas to both Thailand
of 780 MMSCFD and 22 KBPD in 12M2020 and Myanmar: Yadana, Yetagun, and Zawtika
S1 (100% WI) • Operate Zawtika project, brought online in March 2014
• The largest onshore crude oil production field in with current gas supply of 317 MMSCFD in 12M2020
Thailand with 12M2020 average crude oil sales
volume of 29 KBPD Project Status
• Zawtika (80% WI)
Arthit (80% WI) Production • Yadana (25.5% WI)
• Average sales volume in 12M2020 was 223 MMSCFD • Yetagun (19.3% WI)
of natural gas and 11 KBPD of condensates Appraisal • M3 (80% WI)
Contract 4 (60% WI) Exploration • MD-7 (50% WI)
Production / Ramp-up Projects • Average sales rate of 329 MMSCFD for natural gas
and 13 KBPD for condensate in 12M2020
Malaysia
Development
Production Block H Project* :
Block K Project : Rotan field (56% WI) Remaining Area (42% WI)
Kikeh(56% WI) , Siakap North-Petai (SNP) (22.4% WI) and • First gas expected the earliest opportunity in 2021
Gumusut-Kakap (GK) (6.4% WI) • Full capacity at 270 MMSCFD
• Average production volume in 12M2020 was 25* KBPD Exploration
of crude oil and 28* MMSCFD of natural gas Sarawak SK410B Project (42.5% WI)
• Multi TCF significant discovery
SK309 and SK311 Project (59.5% WI) • Expected Final Investment Decision (FID) announcement in 2022
For East Patricia field (42% WI) Other projects
• Average production volume in 12M2020 was 190* MMSCFD • Evaluating petroleum potentials
of natural gas and 20* KBPD of condensates and crude. • Plan for exploration and appraisal drilling in 2021
* The average production volumes per day, For Block K,gross production is net off utilization Note: WI – working interest

Bongkot and Erawan: Thailand Champion in Domestic Gas Supply
Execute Bongkot and Erawan transition plan to ensure production continuity
Growing production and reserves profile

• Substantial volume boost for 10 years and beyond
G1/61 (Erawan) • Immediate remarkable reserves addition
60% WI
DCQ 800 MMSCFD • Minimal risk in production profile
Generating strong cash flow
• No heavy upfront investment
G2/61 (Bongkot) • Self funding (positive net cash flow)
100% WI
DCQ 700 MMSCFD • Achieved target IRR with strong margin despite lower price
G1/61 and G2/61: Supply 80% of natural gas production in Thailand
Concrete transition plan: Staff and Job Handover

Agreement
Preliminary Facility Detailed Facilities and Common Use of
PSC Access Infrastructure Assessment Gas Sales Production Facilities
Signing Agreement (as input for ATA)* Agreement Agreement 1st Gas
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Production Start-up 2019 2020 2021 2022
G1/61 800 2022 *Asset Transfer Agreement (ATA): To be agreed between current concessionaires and DMF by 2021 (1 year prior concession end)
MMSCFD Source : TOR
G2/61 200/700 2022/2023
MMSCFD

Other South East Asia countries
Expanding foothold in the region
Vietnam and Indonesia
Production projects
Pre sanction projects
Vietnam 16-1 (28.5% WI)

• Average sales volume of crude oil was
13 KBPD in 12M2020
Southwest Vietnam • The project is preparing the drilling of
● Vietnam B & 48/95 (8.5% WI) additional development wells in order to
● Vietnam 52/97 (7% WI) maintain the production level in 2021.
• Field Development Plan was approved by Government
• The project is currently in the negotiation process on Natuna Sea A (11.5% WI)
commercial terms to put forward FID
• First production target by end of 2023, and ramp up to • Average sales volume of natural gas
full capacity of 490 MMSCFD was 205 MMSCFD in 12M2020

35
Mozambique Area 1
FID, on the path of unlocking value from world class LNG asset
Substantial recoverable resources of approximately 75 tcf

with scalable offshore development expending up to 50 MTPA
Location and Cost Advantage
➢ Close proximity to shore
➢ High quality reservoirs
capable of flow up to 200 mmcfd per well
➢ Access to Asian and European markets
Achievements Way Forward
Legal & Contractual Framework FID in June 2019 Project Finance 1st Cargo
with initial 2 trains of (2/3 Project Financed) expected
Plan of Development Approved 13.1 MTPA capacity 2024
Onshore & Offshore Drilling & Completion
Contractors Awarded Onshore Construction
First Mover for the Marine Facility and Offshore Installation
Operation Readiness
LNG SPAs ~11.1 MTPA LNG Shipping
The Middle East
Access to the largest oil asset in Oman and mega Midstream Complex
Oman
PDO (Block 6) Mukhaizna (Block 53) Block 12 Oman LNG
• Largest asset covering around • Largest single onshore • Located onshore central part of • The only LNG facility in Oman
PDO (Block 6) 1/3 of the country producing field in Oman the Sultanate of Oman
Oman LNG • Processing capacity 10.4 MTPA
• Long-life asset, produced only • Oil production volume: • Signed agreement with Oman’s
15% of reserves in-place 90,734 BPD Ministry of Oil and Gas (MOG) for • Contracted LNG sales to
Oman Onshore international buyers: Japan and
block 12 • Multi-field oil production (10% of Oman production) exploration and production rights
in February 2020 South Korea
Mukhaizna volume: 601,264 BPD • Operated by Occidental
(Block 53) (69% of Oman production) Petroleum (47% interest) • Operated by Total E&P Oman • Government of Oman 51%
Block 12 B.V. (80% interest) (Operator)
• Operated by Petroleum
Development of Oman
(Joint Operating Company)
UAE
Abu Dhabi Offshore 1,2 and 3 ADNOC Gas Processing (AGP)
Abu Dhabi Offshore 1 and 2:
Block awarded in 2019 • One of the largest gas processing complexes in the world (total capacity of 8 BCFD)
• High potential prospective resources with significant sizeable JV: 3 plants with capacity of 1.2 BCFD
discoveries Adnoc: 2 plants with capacity of 6.9 BCFD
• Located North-west of Abu Dhabi Emirates, United Arab Emirates
Abu Dhabi Offshore 3: • Granted the award for exploration in January 2019 - 2020 • Essential to Abu Dhabi and
Block awarded in 2020 UAE’s economy
• Operated by Eni Abu Dhabi B.V. (70% interest) • Sizeable volumes of Propane,
Butane and Naphtha offtake
• Opreated by ADNOC (68% interest)
ADNOC Gas Processing Plant (AGP) : JV Plants; Asab, Bab and Bu Hasa

America: Mexico and Brazil
-- Entry into high potential petroleum province at exploration phase --
Deep Water Brazil Gulf of Mexico, Mexico
Barreirinhas
Basin
BRAZIL
Espirito
Santo
Basin
Deep-water with high petroleum potentials and attractive fiscal regime

Barreirinhas AP1 Mexico block 12 (2.4)
• Farm-in 25% from BG Group in 2014 • Non-operating partner with 20% participating interest
• Operated by Shell Brasil (65% interest) • Located in the Mexican Ridges, western Gulf of Mexico
• Four offshore exploration blocks: BAR-M-215, BAR-M-217, BAR-M-252 and BAR-M-254 • Currently evaluating petroleum potential and preparing for an exploration well drilling in 2021
• Currently waiting for exploration wells drilling permit from the government Mexico block 29 (2.4)
BM-ES-23 • Non-operating partner with 16.67% participating interest
• Acquired 20% interest from Shell in Q3 2014 • Located in the Campeche, southern Gulf of Mexico
• Partnered with Petrobras (65%, operator) and INPEX (15%) • Made two successful deep-water oil discoverieswith good quality reservoirs in May 2020
• Currently evaluating the petroleum potential for further development • Currently working on obtaining approval of the appraisal plan from the Mexican regulators and
preparing appraisal process in 2021 as well as further development plans

LNG Value Chain Investment : MLNG Train 9
First step into midstream LNG business in strategic area of focus
10% Investment in MLNG Train 9 by PTT Global LNG….
….continue to look for more LNG opportunities globally MLNG Train 9 – Overview
Location Bintulu, Sarawak, Malaysia
MLNG Tiga (Train 7-8)
MLNG Satu (Train 1-3) Capacity 7.7MTPA Asset Liquefaction Train 9 Tank 7
Capacity 8.4MTPA COD Mar 2003
COD Jan 1983 Phase Commercial: Jan 2017
Capacity 3.6MTPA
Contract Life 20 years
Petronas 65%
JX Nippon 10%
Partners PTT Global LNG 10%
(subject to closing)
Sarawak State 10%
Sabah State 5%
Key activity in 2020
• Keep maximizing LNG production up to plant capacity
• Continue to improve plant reliability & utility rejuvenation
• Get ready for 2021 plant turnaround
MLNG Train 9
Capacity 3.6MTPA
COD Jan 2017
MLNG Dua (Train 4-6)
Capacity 9.6MTPA
COD May 1995

New Business Opportunities
Expand value chain, create innovation and step towards long-term sustainability
Gas to Power
“Integrated Energy Solution” Shifting Gear to Business Building
Subsea DroneBiz
E&P Pipeline Power Plant
• End-to-end AI-augmented • Infrastructure Asset
Inspection Repair and Inspection On-demand
Maintenance (IRM)
• Enhance value of existing assets in Myanmar
e.g. Zawtika, M3
• Support Myanmar pipeline infrastructure
development
• Partner with Independent Power Producer (IPP)
AgriTech MedTech
• Smart Farming Services • Fully autonomous model

Platform of UVC-Disinfection Robot

Project information 1/5
PTTEP’s Partners 12M2020 Average Sales Volume **
Project Status* Phase 2021 Key Activities
Share (as Dec 2020) Gas (MMSCFD) Liquid (KBPD)
Thailand and JDA
Chevron 16% • Ensure gas deliverability level at DCQ***
1 Arthit OP Production 80% 223 11
MOECO 4% • Drill development wells
2 B6/27 OP Production 100% - - • Prepare for decommissioning activities
Chevron 51.66%
MOECO 16.71% • Drill development wells
3 B8/32 & 9A JV Production 25.001% 51 17
KrisEnergy 4.63% • Reuse Wellhead platform Study
Palang Sophon 2%
• Drill development wells
4 Bongkot OP Production 66.6667% TOTAL 33.3333% 780 22 • Maintained production level as planned
• Prepare for decommissioning activities
Contract 3 (Formerly JV Chevron 71.25%

5 Production 5% 567 34 • Prepare for decommissioning activities
Unocal III) MOECO 23.75%
• Ensure gas deliverability level at DCQ***

Contract 4 (Formerly JV Chevron 35%
6 Production 60% 329 13 • Drill development wells
Pailin) MOECO 5%
• Topside reuse
7 E5 JV Production 20% ExxonMobil 80% 8 - • Ensure gas deliverability level at DCQ***
Chevron 51%
JV
8 G4/43 Production 21.375% MOECO 21.25% 1 4 • Total Reuse for new platforms
Palang Sophon 6.375%
JV Chevron 71.25%
9 G4/48 Production 5% 6 0.464 • Prepare for decommissioning activities
MOECO 23.75%
• Maintain production plateau
10 L53/43 & L54/43 OP Production 100% - 1 • Drill development wells
• Drill a development well
11 PTTEP1 OP Production 100% - 0.135 • Maintain production plateau
7 Crude:29 KBPD • Drill development wells

12 S1 OP Production 100%
LPG: 0.182 KMT/D • Enhance oil recovery program includes hydraulic fracturing and artificial lift
• Ensure gas deliverability
Apico**** 35%
13 Sinphuhorm OP Production 55% 94 0.283 • Drill development wells
ExxonMobil 10%
• Negotiate and Finalize GSA
* Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship / JV = PTTEP Joint Venture Partner
** Sales volume stated at 100% basis.
*** DCQ = Daily Contractual Quantity
**** PTTEP holds indirectly and directly 80.48% participating interest in Sinphuhorm Project. APICO also holds 100% participating interest in Block L15/43 and Block L27/43.

PTTEP’s Share Partners 12M2020 Average Sales Volume ** 2021 Key Activities
Project Status* Phase
(as Dec 2020) Gas (MMSCFD) Liquid (KBPD)
Thailand and JDA
- • Resume production once project economic becomes viable
14 L22/43 OP Production 100% -
• Continue decommissioning preparation
• Drill development wells
15 MTJDA JOC Production 50% Petronas-Carigali 50% 265 7.5
16 G9/43 OP Exploration 100%
• Awarded as an operator for Erawan field (Contract 1, 2 and 3) under PSC
(after concession-end in 2022)
17 G1/61 (Erawan) OP Exploration 60% MP G2 (Thailand) Limited 40%
• Development study
• Installation new head platform
• Awarded as a sole operator under PSC (after concession-end in
2022/2023)
18 G2/61 (Bongkot) OP Exploration 100%
• Drill appraisal and exploration wells
• Installation new head platform
Others SEA
OP • Production projects(SK309 and SK311, Block K): infill development
SK309 and SK311 SK309 and SK311
(except Production/ • Block H: first gas expected in the earliest opportunity in 2021
6.4-80% 190 20
1 Malaysia Gumusut- Exploration/ • Sarawak SK410B:Start Front End Engineering Design (FEED)
(varied by permits) Block K Block K
Kakap (GK) Development • Other exploration projects: drill exploration wells and perform 3D seismic
25 28
in Block K) activities
TOTAL 31.24%
JV • Drill production wells
2 Yadana Production 25.5% Chevron 28.26% 761 -
MOGE 15%
Petronas-Carigali 40.91018%
JV • Maintain production level
3 Yetagun Production 19.3178% MOGE 20.4541% 55 1.1
• Refinery Acid Gas Removal Unit (AGRU) Project and facilities modification
Nippon Oil 19.3178%
Zawtika Myanma Oil and Gas
4 OP Production 80% 20% 317 - • Drill appraisal wells
(M9 & a part of M11) Enterprise (MOGE)
• Continue Pre-development works
• FEED/ Subsurface/ Surface studies
5 Myanmar M3 OP Exploration 80% MOECO 20%
• Negotiate and Finalize GSA
6 Myanmar M11 OP Exploration 100% • Block relinquish
• Complete the termination process
7 Myanmar MD-7 OP Exploration 50%
TOTAL 50% • Finish leftover material transferring to MOGE
Palang Sophon 10% • Complete the termination process
8 Myanmar MOGE 3 OP Exploration 77.5% MOECO 10% • Finish leftover material transferring to MOGE
WinPreciousResources 2.5%
* Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship/ JV = PTTEP Joint Venture Partner
** Sales volume stated at 100% basis/ For Block K, gross production is net off unitization
*** DCQ = Daily Contractual Quantity

Others SEA
PetroVietnam 50%
4 • Maintain production level
9 Vietnam 9-2 JOC Production 25% SOCO 25% 14
• Development drilling study support
PetroVietnam 41% • Maintain production level
10 Vietnam 16-1 JOC Production 28.5% SOCO 28.5% 7 13 • Drill development wells
OPECO 2% • Subsurface and Project study
PetroVietnam 65.88% • Negotiation process on commercial terms in order to push forward the Final
11 Vietnam B & 48/95 JV Exploration 8.5% MOECO 25.62% Investment Decision (FID)
• The first production target at the end of 2024
PetroVietnam 73.4% • Negotiation process on commercial terms in order to push forward the Final
JV MOECO 19.6%
12 Vietnam 52/97 Exploration 7% Investment Decision (FID)
• The first production target at the end of 2024
Premier Oil 28.67%
JV KUFPEC 33.33% • Drill development wells
13 Natuna Sea A Production 11.5% 205 2
Petronas 15% • FEED study: Start Anoa & Gajah Baru compressor project
Pertamina 11.5%
Middle East
JV • Perform 3D seismic activities

1 Abu Dhabi Offshore 1 Exploration 30% Eni Abu Dhabi 70%
• G&G studies
• Drill an exploration well
2 Abu Dhabi Offshore 2 JV Exploration 30% Eni Abu Dhabi 70%
• Perform 3D seismic activities
• Perform 3D seismic acquisition

3 Abu Dhabi Offshore 3 JV Exploration 30% Eni Abu Dhabi 70% • G&G studies
• A part of Partex acquisition which was completed on 4 November 2019

Government of
60% • Maintain production plateau
Oman
4 PDO (Block 6) JOC Production 2% 34% 552 • Perform Development activities
Shell
4% • Drill exploration and appraisal wells
Total
Occidental 45% • A part of Partex acquisition which was completed on 4 November 2019
OOCEP 20% • Maintain production plateau
5 Mukhaizna JV Production 1% Indian Oil 17% 82 • Drill exploration wells
Mubadala 15% • Perform Development activities
Total 2%
• Signed Exploration and Production Sharing Agreement (EPSA) with Oman’s
Total E&P Oman Ministry of Oil and Gas (MOG) for exploration and production rights on 19 Feb 2020
6 Block 12 JV Exploration 20% 80%
Block 12 B.V.
• Drill an exploration well
* Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship / / JV = PTTEP Joint Venture Partner
** Sales volume stated at 100% basis
Other International
• AC/RL7 (Cash Maple) and Orchid Field (AC/P54) : under way to define proper
PTTEP Australasia 90%-100% (varied direction in order to increase development opportunities
1 OP Exploration
(PTTEP AA) by permits) • Other exploration projects: G&G studies
• AC/L4: total block relinquishment
Total, Mitsui, • First Cargo is expected by 2024
26.5%,20%
JV ENH, OVL • Drill development wells
2 Mozambique Area 1 Development 8.5% 15%, 10%
OVRL & Oil India , • Continue Onshore and Offshore well construction
10%, 10%
Bharat • 1st Debt drawdown in project Finance
Algeria 433a & 416b PetroVietnam 40% 17 • Drill development wells

3 JOC Production 35% -
(Bir Seba) Sonatrach 25% (net entitlement) • Production respect OPEC policy
• Drilling development wells

Algeria Hassi Bir CNOOC 24.5% • FEED study
4 OP Development 24.5%
Rekaiz Sonatrach 51% • Subsurface model update
• Further well sites construction
5 Mariana Oil Sands OP Exploration 100% • Conduct well abandonment campaign and reclamation activities
65%
JV Shell Brasil
6 Barreirinhas AP1 Exploration 25% 10% • Waiting for exploration wells drilling permit from the government
Mitsui E&P Brasil
JV Petrobras 65%
7 Brazil BM-ES-23 Exploration 20% • G&G and Predevelopment studies
INPEX 15%
PC Carigali Mexico 60%

JV • G&G study
8 Mexico block 12 (2.4) Exploration 20% Ophir Mexico 20% • Drilling Exploration wells
Repsol Mexico 30% • Drilling Appraisal and Exploration wells

JV PC Carigali Mexico 28.33%
9 Mexico block 29 (2.4) Exploration 16.67% • Appraisal and Exploration concept study
Wintershal DEA 25%
• G&G study to access petroleum potential
* Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship/ JV = PTTEP Joint Venture Partner
** Sales volume stated at 100% basis except for Algeria 433a & 416b (Net Entitlement)

Other International
Total 30%
Sonangol 30%
Pre • Maintain production plateau
10 Block 17/06 JV 2.5% SSI 27.5%
development • FEED and Predevelopment Study
Acrep 5%
Falcon Oil 5%
11 Potiguar OP Production 50% Petro reconcavo 50% 0.189 • Maintain production plateau

• Maintain production plateau
Total 60% • New well tie-ins to gather the system
12 Dunga JV Production 20% 2 12
OOCEP 20% • Designing of Compression and Separation upgrade
• Designing of Sea water and Export Line
Midstream Project
Government of
Oman 51%
Shell 30%
Total 5.54% • A part of Partex acquisition which was completed on 4 November 2019
1 Oman LNG Shareholder On line 2%
Korea LNG 5% • Power Project to maintain operations
Mitsubishi 2.77%
Mitsui 2.77%
Itochu 0.92%

ADNOC 68%
ADNOC Gas On line • Perform Midstream operation activities such as fire water network and plant
2 JV 2% Shell 15%
Processing (AGP) flare upgrade
Total 15%
• Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship/ / JV = PTTEP Joint Venture Partner
** Sales volume stated at 100% basis

Organization structure
Ensuring transparency, integrity and good corporate governance
Board of Directors
Nominating Committee
Corporate Governance Committee Remuneration Committee
Audit Committee
Risk Management Committee
Internal Audit CEO

Division
Safety, Security, Health and

Legal Division
Environment Division
President
Non-E&P Business Management Human

Department Geosciences,
Production Engineering, Strategy and Resources,
Subsurface Finance and
Asset New Business Development Operations and Business Corporate
and Accounting
Group Support Group Development Development Affairs and
Department Exploration Group
Group Group Assurance
Enterprise Mission Control Group Group
Department
Information as of 1 October 2020
Supplementary Index : Ratio & Formula
Ratio Formula
Lifting Cost ($/BOE) (Operating Exp. – Transportation Cost – Stock Variation – Other expenses not related to lifting) / Production Volume
Cash Cost ($/BOE) (Operating Exp. + Exploration Exp. + G&A + Royalties + Finance Cost) / Sales Volume
Unit Cost ($/BOE) (Operating Exp. + Exploration Exp. + G&A + Royalties + Finance Cost + DD&A) / Sales Volume
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
Sales Revenue Sales + Revenue from pipeline transportation
EBITDA (Sales + Revenue from pipeline transportation) - (Operating expenses + Exploration expenses + Administrative expenses + Petroleum royalties and remuneration +
Management's remuneration)
EBITDA Margin EBITDA / Sales Revenue
Return on Equity Trailing-12-month net income / Average shareholders' equity between the beginning and the end of the 12-month period
Return on Capital Employed (Trailing-12-month net income + Trailing-12-month Interest Expenses & Amortization of Bond Issuing Cost) / (Average shareholders' equity and average total debt
between the beginning and the end of the 12-month period)
Simple Effective Tax Rate Income tax expenses / Income before income taxes
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

AM Q4 2020 - Vfinal

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AM Q4 2020 - Vfinal

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2020 Results

Petroleum Reserves Information

2 Energy Partner of Choice

Energy Partner of Choice

COVID-19 Situation LNG Liberalization Green Energy Policies Supply from

Energy Partner of Choice

G1/61 (Erawan) G2/61 (Bongkot) Exploration Accelerate progress in Lang Lebah,

Remark : Transition of Murphy and Partex assets are completed.

“Integrated Energy Solutions,

Electric Power Generation Enterprise (“EPGE”) as

11 Energy Partner of Choice

Energy Partner of Choice

25% ≥50% of main structures reused

• Baseline Study of Microplastics in the GoT

Energy Partner of Choice

Energy Partner of Choice

Deal size Deal Completion Pre transaction structure

2,450* Within 2021 (Epsilon)

60% 30% 10%

Post transaction structure

◼ Transaction will be funded with cash from PTTEP’s balance sheet

40% 30% 20% 10%

16 Energy Partner of Choice

✓ Cash flow stream from gas

OMAN Phase 2 : Ghazeer

✓ Developing 10.5 TCF of gas

Note: * Source from Wood Mackenzie

Energy Partner of Choice

Resilient portfolio with downside World class partnerships

30% Abu Dhabi

Capacity 10.4 MTPA Midstream

20 Energy Partner of Choice

Strong Portfolio Robust Financial Performance

10% Increase in Sales Volume* High EBITDA Margin

~ 1 $/BOE Reduction in Unit Cost

Energy Partner of Choice

Recurring (-27 MMUSD or -14%) Recurring (-664 MMUSD or -46%)

Non-recurring (-122 MMUSD or ->100%) Non-recurring (-185 MMUSD or ->100%)

23 Energy Partner of Choice

3,804 11,841 11,799

2019 Sources Uses 2020 2019 2020

24 Energy Partner of Choice

~28-29 Schedule for 2H2020 Dividend Payment***

Please scan here to

Industry and Thailand Energy Updates 33-35

Sustainable Development 36-40

Reserves at Year-end 2020 41

Key Project Highlights by Region 42-50

Project Details 51-55

* Consisted of Gain/(Loss) on FX and Forward Contract

28 Energy Partner of Choice

Sales Price 2020 2019 Q3 20 Q4 20 Q4 19 Revenue Mix

Note: Include sales volume from ADNOC Gas Processing (AGP)

29 Energy Partner of Choice

30 Energy Partner of Choice

Note: Excludes Hybrid bonds

32 Energy Partner of Choice

Thailand Energy Overview Exchange Rate Movement

Domestic Myanmar LNG 4,719 o Lower energy demand from COVID-19

Natural Gas Consumption Electricity Generation

FY2018 FY2019 11M2020

33 Energy Partner of Choice

Crude Oil &