Investor Presentation

Non-Deal Roadshow with Fixed Income Investors

Tokyo, Japan | 8 March 2024

Energy Partner of Choice

Cautionary Statement
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.
Company Information

Business Update

Financials
Company
CompanyOverview
Overview
17 Sustainability Framework
PTT 64% BN USD
Market Capitalization
Local 20%
3,969.9 Institutions
Million shares
Foreign
9
13% BN USD
Institutions
FY2023 Sales Revenue
Retails 3%
As of latest book closing Aug 2023
638
KBOED
FY2023 Production Volume

~14
USD/BOE
2016-2023
Competitive Cash Cost

Level “A” Level “B”

6.35%
FY2023 Dividend Yield
4
Corporate Strategy
Drive Value
Energy security and
Long-term supply resiliency
Lean
Competitiveness in
Strategy
foothold areas
• Max Production
• Cost Optimization
• Expedite Development
• Expand Gas Growth
Decarbonize
Optimization for less emission or
cleaner fossil fuels in PTTEP’s
operations
Clean
Lower carbon for
license to operate
• CCS Execution (Arthit & LLB)
• GHG Reduction Initiatives
• Offsetting Implementation
5
Diversify
New business portfolio readiness
for Energy Transition
Green
Readiness for
Energy Transition
• AI and Robotics Ventures (ARV)
• Renewable Energy
• CCSUS, Hydrogen and Future Energy
• Commercialize the in-house
Technology
Energy Partner of Choice
Well-Diversified portfolio & Key Business Update * 2023 % sales vol. contribution

Central Asia 67%* Thailand

• Dunga onshore oil field in Kazakhstan (approx. Home Base
10,790 BPD ) • G1/61 (Erawarn) to increase production
volume to 800 MMSCFD by 1st April 2024
Europe • G2/61 (Bongkot): maximum production of 846
MMSCFD in 2023 (825 MMSCFD avg.)
Investment in Seagreen Offshore Windfarm • Arthit: avg. production of 330 MMSCFD
in Scotland • Contract4: maintain production plateau
• MTJDA: Preparation for the next development
phase
Beyond E&P
North & South America • ARV
Non-strategic areas: • EASTERN CCS HUB
• Pre-development study in Mexico • S1 Solar CoD
• Mariana Oil Sands was completely
relinquished in Aug 2023
• Completely divested Brazil assets 20%* Southeast Asia
Strategic Area
5-Year CAPEX allocation • Producing assets: Malaysia Block K, Block
H, SK309&311, Myanmar Zawtika, and
10% allotted to Beyond E&P Yadana
2%* Africa Middle East 11%* • Recent discovery: Malaysia SK405B, and,
Beyond E&P SK438
• Lang Lebah SK410B The 1st gas
10% Thailand 48% An area for growth, key projects include: Strategic Area in Oman and UAE production is expected in the 1H2028.
Other SEA 26%
• Algeria’s Hassi Bir Rakaiz oil field with daily • Oman: including PDO (Block 6), largest • Newly awarded block in Malaysia, SK325
production rate of 17 KBPD producing oil asset, and Block 61,
E&P Middle East 6% • Algeria’s Bir Seba oil field with current flow largest tight gas development
90%
Rest of World 10% rate of approximately 16 KBPD • UAE: 3 offshore and 2 onshore
• Mozambique LNG project target 1st cargo in exploration blocks Australia
1H2028 (subject to local security situation) Beyond E&P
• Completed divestment in Block 17/06 in • Divested the entire interests in Cash
Angola • Awarded Green Hydrogen Maple (AC/RL7)
Note: As of December 2023 Projects in Oman • Oliver Field (AC/RL12) is in progress of
6 evaluation of commercial potential.
Production / Sales volume mentioned represents 100% interest in the project.
Company Information

Business Update

Financials
 2023
KEY TAKEAWAY
Gulf of Thailand
E&P
Algeria
Oil production ramp-up
13 KBD to 17 KBPD
Growth
G1/65 & G3/65
Exploration campaign
in 2024-2025
G1/61 (Erawan) OCA
Sales Volume Gas Price 400 MMSCFD since June 2023
(KBOED) (USD/MMBTU)
Malaysia
462 1% $ 6.00 4% G2/61 (Bongkot) & Arthit
sales beyond commitment to
bridge Erawan’s shortfall
New Discoveries in SK405B and SK438
Newly awarded SK325
2022: 468 2022: 6.27
MoU SK405B

Sales Revenue
(MMUSD) Beyond E&P
8,511 8%
Offshore Windfarm Green Hydrogen Projects
2022: 9,270 Awarded
Investment in Green Hydrogen Projects
Seagreen Offshore Windfarm in Oman
Net Income in Scotland
All-in Unit Cost
(MMUSD)
(USD/BOE) 2,208 MoU with TotalEnergies
• Further collaboration in offshore EASTERN CCS HUB Solar S1 CoD
27.65
1,999
wind investments
3% 2,647 2,322
• Exchange knowledges Collaborates with Since June 2023
-648 -114
and experiences INPEX, DMF &
2022 2023 JOGMEC
2022: 28.36 Operating NI Non-operating NI

“Higher reported Net Income from significantly lower non-operating losses”

*Japan Organization for Metals and Energy Security
PTTEP’s GoT Gas Supply Outlook : Q1 2024
Maximize G2/61 & Arthit during G1/61’s ramp-up 800 MMscfd

Gas Sales in MMscfd Dec’23 Jan’24 Feb’24 Mar’24

Commitment 825 700 700 700

G2/61 Delivery forecast 840 840 800 800
Surplus 15 140 100 100
CDC 294 294 294 294
Arthit Delivery forecast 340 360 320 320
Surplus 46 66 26 26
Total excess delivery (G2/Arthit) 61 206 126 126
Original Plan 500 600 600 600
G1/61 Delivery forecast 377 400 450 550
Deficit (123) (200) (150) (50) Total

Net Surplus / Deficit (62) 6 (24) 76 (4)*

9 * Unit of number represents in MMscfd for one month

9
“SEAGREEN” Offshore Wind Farm Acquisition
The largest Offshore Windfarm in Scotland

PTTEP will hold 25.5% after completion (PTTEP’s share 280MW)

WaterDepth
Water Depth
Low-risk asset with Stable cashflow 40 - 60 mm
40 - 60

with 15-year guarantee on turbine performance and 15-year fixed price

1.1GW Total Capacity

114 Vestas Offshore Wind Turbine Holding

10MW generating capacity each Structure

Fully operational in October 2023 50% 50%

2 MMTCO2e GHG Emission displaced

compared with emission from electricity generated by fossil fuels every year
TERSH
51% 49%

27km from Angus Coast, Scotland

40-60m Water depth

10
Diversify

MUSCAT
Green Hydrogen in Oman
Full value chain from renewable to hydrogen production

DUQM Block Z1-02

Approx. 340 km2 in Duqm, Oman for 47 years

Consortium with Korea and France

SALALAH

Construction in 2027 & Commercial operations in 2030

5.3 GW
Renewable
218 ktpa
Green H2
1.2 mtpa
Green Ammonia Off-take
Capacity Capacity Capacity

11 11
Social & Environmental Contribution in 2023
GHG Reduction Target
2030 2040 2050
2020
Base Year 30%
GHG Intensity
50%
GHG Intensity
NET ZER
GHG Emissions
Reduction Reduction E&P, Operational Control
SCOPE 1 & 2

Govt. Revenues
GHG Reduction
54,280 •
•
Income tax
Royalties
Accumulated reduction
Reduction in 2023
Million THB • Production bonus
from 2020 base year paid to TH Government • Other remunerations
2.47 0.96 or 12.5% in form of
MMtCO2e MMtCO2e
Activities
• Portfolio Management
• Flare Gas Recovery and Utilization Social & Environment
• Production Efficiency Improvement
and Renewable Energy
• Energy Efficiency Low Chemical Spill Rate
• Methane Leakage Control (IOGP Benchmark)
of land Implementation in 2023 for
29,000 secured carbon credits more than
0.16 million tonnes of CO2 equivalent
Positive Impact on Ocean Biodiversity
Ecosystem Services (BES) value
Zero Hazardous Waste
Rai Social Return of Investment - SROI
in 2030 Energy Partner of Choice
12
2024 Focus Areas
Strategic alignment with UNSD Goals

Drive Value Decarbonize

5 Year Budget ~ $31.5 Billion
5 Year Budget ~ $500 Million
• EP Net Zero 2050
Maximize production & maintain competitive unit cost • Arthit CCS FID
• Emission Offsetting & Ocean for Life
• G1/61 Ramp-up to 800 MMSCFD by 1 April 2024 and
Gulf of Thailand Synergy
• Contracts extension: Yadana, Contract 4
• Maintain Production from Myanmar Assets
Diversify
Accelerate monetization of discovery and exploration assets
5 Year Budget ~ $600 Million
• Lang Lebah project FID in 2024 Provision ~ $2 Billion
• SK405B final development plan
• Mozambique Area1 site re-access
• Scale-up AI & Robotics Venture
• Accelerate the development of Abu Dhabi Offshore2 • CCS as a Service (GoT CCS Hub Study)
• Power and Renewable Opportunity
(Green Hydrogen / Offshore Wind) Energy Partner of Choice
Carbon Capture and Storage (CCS) at PTTEP DIVERSIFY: THE YEAR OF NEW BEGINNINGS

CCS to support Decarbonize CCS as a Service (CCSaaS) for Diversify

Pilot Projects

Arthit CCS Lang Lebah CCS

EASTERN CCS HUB
OFFICIALLY NOMINATED TO REPRESENT THAILAND
ARTHIT CCS FEED COMPLETION IN JOINT TH-JP CARBON STORAGE STUDY
“A STEP CLOSER TO FID” IN THE GULF OF THAILAND

Gas processing

Gas Producing Platform Primary Future / Secondary

Injection Injection site

30,000
sq.km.
CO2 Separation
(by Membrane)
and Compression

Natural Gas Natural Aquifer & Aquifer &

Depleted Reservoir Depleted Reservoir
Gas

14
Company Information

Business Update

Financials
 Finance – 5 Years Investment Budget
in KBOED Production & Sales CAGR +5%
900
800 733 744 739
808 2024-2028 E&P BUDGET
710
636

32.6 bnUS$
700 587
Sales Volume

600 505 523 534 531 30

Africa & Others
500
463 10 10 11 11 73 Middle East
9 56 57 72 73
400 53 93 93 98 105 149 Other SEA
300 93
200 346 363 353 342 335 Thailand & MTJDA
CAPEX 20.8 bnUS$
100 308 OPEX 11.8 bnUS$
0
2023
2023
Closing forecast
2024
2024 2025
2025 2026
2026 2027
2027 2028
2028
2024 EXPLORATION BUDGET
MMUSD
8,000
7,000
6,000 4,892
6,721 7,509
2,379
7,268
2,339
5,772 5,305
254 mmUS$
2,405 CAPEX 220 mmUS$
Investment

5,000 OPEX 34 mmUS$

1,143 1,064 2,256 2,449 OPEX
4,000 2,174 761 CAPEX
3,000
177 683 327 (Dev & Pre-sanction 8 wells in Malaysia
2,000 3,555 3,987 3,865 2,833
projects (3))
1,000 2,541 2,529 CAPEX 2 wells in Oman
(Producing projects (4))
0
2023
2023
Closing forecast
2024
2024 2025
2025 2026
2026 2027
2027 2028
2028 1 well in UAE
1 well in Thailand
MOZ LNG : 1H (1)
Capacity 13 MTPA
SK410B LLB : 1H (2) Note: (1) Subject to site re-entering and resume construction
G1/61 : April Abu Dhabi Offshore 2 (2) SK405B : 1H (2) Initial Capacity timing
Full Capacity 800 MMSCFD Phase 1 : 2H Capacity 8 KBPD 800-1000 MMSCFD
(2) Subject to regulatory approval and FID timing
(3) Development & Pre-sanction projects include
Major Project Capacity 300 MMSCFD
Algeria HBR Mozambique LNG, SK410B, Abu Dhabi Offshore 2
Start-up (Phase 2) : 1H (2) and Southwest Vietnam.
(4) Including exploration and appraisal in all projects,
16 Capacity 30 KBPD head office CAPEX, and new businesses
Key Events in 2023

Production Start-up / Impairment / Divestment Others

Operatorship Transfer / Asset Write-off

2022 2023 2022 2023 2022 2023

G1/61 (Erawan) G1/61 (Erawan)
Start-up Ramp up to 400 Mozambique Mozambique
MMSCFD Impairment Impairment Reversal of
Oman Block 61
G2/61 (Bongkot) Bongkot Contingent Payment
Start-up @200MMSCFD End of Concession Brazil
Divestment Oliver
G2/61 Block AC/RL12 in -
Algeria HBR Full PSC transition Australia
Start-up @700MMSCFD Angola Mediation for Montara
Asset Write-off class action
Divestment
Yadana Algeria HBR
Ramp up from 13 to 17 KBPD Cash Maple
Operatorship Transfer
Block AC/RL 7 in
Unplanned Shutdown Australia
• B8/32 Divestment
• Malaysia Block H
• Malaysia Block K

17
Financial Results | Q4/23 and FY2023
YTD: Softened sales volume and selling Price, with significantly lower non-operating losses

2,208
514 514 514 1,999
Net Profit 417
P/L from normal operation
P/L from non-operating items
603 723 603 2,647 2,322
539

-25 -89 -114

Profit from Normal Operations -89 -306 -648
Q3 23 Q4 23 Q4 22 Q4 23 2022 2023
Sales Volume +2% -5% -1%
Higher G2/61 offset with Lower MY Lower Oman B61 offset with Higher G1/61 Lower Oman B61 offset with Higher G1/61
-0.4% -8% -10%
Average Selling Price Higher gas portion despite higher liquid and gas prices Lower liquid and gas prices Lower liquid and gas prices
-1% -2% -3%
Unit Cost Lower OPEX offset with Higher G&A Lower Royalties offset with Higher DD&A Lower Royalties offset with Higher OPEX

Major Non-operating items Q3 23 Q4 23 Q4 22 Q4 23 2022 2023

(in million USD)
Oil Price Hedging -20 +13 -2 +13 -186 -4
Effect from FX -5 -10 -53 -10 -92 -5
-170 -205 -170 -300 -170
Impairment / Asset Write-off - Moz / Oliver Moz / Angola Moz / Oliver Moz / Brazil / Angola Moz / Oliver
+73 -58 +73 -58 +73
Others - Cash Maple Montara / Oman B61 Cash Maple Montara / Oman B61 Cash Maple
Financial Results | Volume and Price
YTD: Lower ASP, following global oil price movement and higher contribution from G1/61 (Erawan)

UNIT: BOED Volume Mix

600,000
474,679 500,456
468,130 462,007 467,452 Gas Liquid
500,000 Rest of World
64,363 78,318
74,053 61,604 66,740
400,000 97,987 Other SEA 30% 28%
98,715 93,653 99,326 95,058
300,000
70% 72%
200,000 Thailand &
295,362 306,750 301,386 315,258 324,151
MTJDA
100,000 Q3 2023 Q4 2023

0
Product Price 2022 2023 Q3 23 Q4 23 Q4 22
Revenue Mix
Gas ($/MMBTU) 6.27 6.00 5.75 5.86 6.70
Liquid ($/BBL) 94.89 79.09 81.89 81.95 85.40
Weighted Avg. ($/BOE) 53.39 48.21 48.62 48.41 52.76 50% 47%
Avg. Dubai ($/BBL) 96.38 82.09 86.63 83.75 84.77
Avg. HSFO ($/BBL) 82.38 71.87 81.41 72.64 62.44 50% 53%
(High Sulphur Fuel Oil)
Q3 2023 Q4 2023
Note: Include sales volume from ADNOC Gas Processing (AGP).
Exclude Oman Block 61 deemed sales volume from tax payment by government.
Energy Partner of Choice
19
Financial Results | Unit Cost
YTD: Higher contribution from PSC projects resulted in a reduction
Unit : $/BOE
30 28.36 * 27.65 **,*** 29.12 28.87 *** 29.32 *

Cash Cost 20
14.56 13.84 14.52 13.93 15.22
Unit Cost
10

-
2022 2023 Q3 23 Q4 23 Q4 22
DD&A 13.80 13.81 14.60 14.94 14.10
Finance Cost 1.37 1.75 1.75 1.52 1.21
Royalties 4.02 2.67 2.48 2.50 3.78
G&A 2.46 2.63 2.41 3.54 3.36
Exploration Expenses 0.42 0.26 0.36 0.28 0.16
Operating Expenses 6.29 6.53 7.51 6.09 6.71
Lifting Cost 4.42 4.69 4.69 4.98 4.64
Note: * Exclude Montara Class action settlement in Q4/22 (G&A)
** Exclude Bongkot Goodwill write-off in Q1/23 (OPEX)
*** Exclude Oliver asset write-off in Q4/23 (Exploration)
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
Energy Partner of Choice
20
Financial Results | Cashflows & Financial Position
Cashflows Financial Position
Cash flow from EBITDA Margin Unit: million USD
operations 74%
Unit: million USD
(Before tax) Tax paid 26,380
Inflow 25,168
Investing Outflow Total Assets
1,787
Other Liabilities
7,820 8,133
6,147 2,370 Dividend
3,833 3,654
Interest-bearing Debt
1,099 Others
411

3,539 13,515 Equity

5,667 4,019
14,593

Ending cash Dec-22

Dec-22 Ending cash Dec-23
Dec-23
Note: Net of adjustment for the effect of exchange rate changes on
cash and cash equivalents

Debt Profile
Interest Rates
Dec-22 Dec-23 Dec-22 Dec-23
Debt to Equity 0.28 0.25 Average Cost of Debt 3.99% p.a. 3.94% p.a. 100%
Fixed Rate
Debt to EBITDA 0.56 0.58 Average Loan Life 15.2 Yrs 13.6 Yrs
Energy Partner of Choice
21
Financial Results | Dividends
Schedule for 2H2023 Dividend Payment Unit: THB per share
1H 2H

10.00 9.25 9.50

XD 19 February 2024 8.00
Date 5.00 5.25
6.00
6.00 5.00 5.00
4.25
4.00 3.75
3.25 3.00
Record 2.75

Date 20 February 2024 2.00

2.25
4.25 4.25
1.75 1.50 2.00
0.00
2018 2019 2020 2021 2022 2023

Payment Payout Ratio

Date 22 April 2024 % of Net Profit 55 49 77 50 53 49
% of Profit from 51 53 71 41 40 47
Normal Operation

Energy Partner of Choice

22
Results Guidance
OUTLOOK Q1 2024 FY 2024 RATINGS

Sales Volume AAA

(KBOED) ~473 ~505 Stable

Gas Price BBB+

(US$/MMBTU) ~5.8 ~5.7 BBB stand-alone rating
Stable

Unit Cost Baa1

(US$/BOE) ~28-29 Baa2 stand-alone rating Stable

Profitability
(EBITDA Margin) 70-75% bbb+ stand-alone rating
BBB+
Stable
Energy Partner of Choice
* Based on average Dubai oil price in 2024 at 70-75 $/BBL
23
 Thank you and Q&A

+66 2 537 4000 IR@pttep.com http://www.pttep.com

24 Energy Partner of Choice

Supplementary Information

Topics Page
Finance 26-28
• Profit and Loss Statement
• Key financial ratios
• Debt Maturity profile

E&P Business 29-32

• Overall Portfolio
• Thailand and SEA
• Middle East
• Africa
Reserve 33
Beyond E&P Business 34-35
AI and Robotics Venture
SD & ESG 36-37
• Net Zero Roadmap
• ESG Disclosure & Ratings
Thailand Energy Market 38-41
E&P Projects Information 42-51
Organization Structure 52
Ratios, Formulas, Conversion Table 53-54
Finance
Unit: million USD
– P&L 2023 2022 %YTD Q4 23 Q3 23 %QoQ Q4 22 %YoY
Total Revenues 9,057 9,660 (6%) 2,411 2,292 5% 2,697 (11%)
Sales (1) 8,511 9,270 (8%) 2,202 2,193 0.4% 2,469 (11%)
Sales Volume (BOED) (2) 462,007 468,130 (1%) 474,679 467,452 2% 500,456 (5%)
Sales Price (US$/BOE) 48.21 53.39 (10%) 48.41 48.62 (0.4%) 52.76 (8%)
Others (3) 546 390 40% 209 99 >100% 228 (8%)
Total Expenses 6,892 7,681 (10%) 1,908 1,786 7% 2,294 (17%)
Major Expenses:
Operating Expenses 1,225 1,110 10% 280 337 (17%) 321 (13%)
Exploration Expenses 94 72 31% 62 15 >100% 8 >100%
G&A 487 578 (16%) 168 113 49% 293 (43%)
DD&A 2,335 2,363 (1%) 654 629 4% 650 1%
Loss on Financial Instruments 56 184 (70%) 22 20 10% 100 (78%)
Impairment Loss on Assets 120 300 (60%) 120 - 100% 205 (41%)
Income Tax Expenses 1,831 2,061 (11%) 426 484 (12%) 487 (13%)
Share of profit (loss) from associates and JV 43 20 >100% 11 8 38% 14 (21%)
Net Profit 2,208 1,999 10% 514 514 0% 417 23%
Profit (Loss) from normal operation 2,322 2,647 (12%) 603 539 12% 723 (17%)
Profit (Loss) from non-operating items (114) (648) 82% (89) (25) (>100%) (306) 71%
Non-operating items breakdown:
Oil Price Hedging (4) (186) 98% 13 (20) >100% (2) >100%
Tax from Effect of FX (9) (15) 40% 5 - 100% 12 (58%)
Effect from FX and others (4) (89) 96% (10) (5) (>100%) (53) 81%
Impairment Loss on Assets (120) (300) 60% (120) - (100%) (205) 41%
Gain on Disposal of Asset 73 - 100% 73 - 100% - 100%
Exploration Asset Write-off (50) - (100%) (50) - (100%) - (100%)
Montara Mediation agreement on Class Action - (129) 100% - - - (129) 100%
Reversal of Contingent Liab. - 71 (100%) - - - 71 (100%)
Note:
(1) Include Oman Block 61 deemed sales revenues from tax payment by government Energy Partner of Choice
(2) Exclude Oman Block 61 deemed sales volume from tax payment by government 26
(3) Consisted of Revenue from Pipeline, Gain from FX, Forward Contract, and Gain from Oil price Hedging, Gain from reversal of Oman Block 61 Contingent Liabilities
Finance – Key Ratios

Q3 2023 Q4 2023
EBITDA Margin 74% 74%

Profitability Ratios Return on Equity 16% 16%

(%)

Net Profit Margin 23% 24%

Debt to Equity 0.26 0.25

Leverage Ratios
(Times)
Debt to EBITDA 0.59 0.58

Liquidity Ratio Current Ratio 2.50 2.65

(Times)

27
Finance - Debt Maturity Profile
700
648
600
600

500 458

400 379
USD Millions

350

300
226
200 179

100

Unit: USD Millions or equivalent after cross currency swap

As of December 2023
28
Portfolio - E&P Business
Key Assets and % of Total Sales volume

Focus Countries (95%)

Global E&P Portfolio
Thailand 67% G1/61, G2/61, Arthit, S1

Malaysia 10% SBK, SBH, SK309/311

Myanmar 9% Yadana, Zawtika

Oil
Oman 10% Block 61, PDO, OLNG
Oil
UAE < 1% Exploration fields, AGP Myanmar
Oil Gas/LNG Thailand
Oil
Africa & Rest of the World (5%) Algeria Piped Gas
Malaysia
Africa 2% HBR, BSB
Oil Gas/LNG

Small presence in Oman, UAE

Others < 2%
Vietnam, Indonesia,
Kazakhstan, Mexico Mozambique

Others
Middle East LNG
1%
12%
Africa 15%
Southeast Asia
Thailand
48% 26.4 bn$
24% (Dec 2023)

Book Value by region

29
E&P Business – Thailand, Myanmar, Malaysia
Myanmar Thailand
Production Myanmar S1 Production
Zawtika (WI 80%) Sinphuhom G1/61 Erawan (WI 60%)
• Production Volume gas 329 MMSCFD (12M2023) • 12M2023 daily gas production 295 MMSCFD
Yadana (WI 37.1%) E5 • Ramp-up in progress to 800 MMSCFD in Apr 2024
• Production Volume gas 516 MMSCFD (12M2023) M3 Thailand
• Sole investment 100%
Yadana
G2/61 Bongkot (WI 100%)
Exploration Zawtika
• PSC transition completed since 8 Mar 2023.
M3 (WI 100%) • 12M2023 daily gas production at 810 MMSCFD
• Pending development G1/65 (included Bongkot Concession @ 125 MMSCFD)
MD7 B8/32 & 9A
G1/61 (Erawan) Arthit (WI 80%)
Malaysia Contract 4
Arthit
G2/61 (Bongkot)
• Production Volume gas 326 MMSCFD and condensate
MTJDA
Sabah H 16 KBPD (12M2023)
Production G3/65 Sabah K
SK410B
Contract 4 (WI 60%)
Block K (WI Kikeh 56%, SNP 22.4%, GK 7.2%) SK417
Malaysia SK325
SK438
• Production Volume gas 400 MMSCFD and condensate
• Production Volume crude 21 KBPD and gas 12 MMSCFD PM415
SK405B 16 KBPD (12M2023)
(12M2023)
PM407 S1 (WI 100%)
Block H (WI Rotan 56%, Others 42%) SK309& • Production Volume crude oil 25 KBPD (12M2023)
• Production Volume gas 217 MMSCFD (12M2023) SK314A SK311

MTJDA (WI 50%)

SK309 and SK311 (WI 42-59.5%) • Production Volume gas 287 MMSCFD (12M2023)
• Including East Patricia field
• Production Volume gas 215 MMSCFD, and crude 16 KBPD
(12M2023)
Exploration
Exploration Exploration
Production
• SK410B (LLB), SK417, SK314A, SK438, SK405B • G1/65 and G3/65
• PM407, SK325
30
E&P Business – Middle East
OMAN
UAE Production
Exploration Sharjah
Sharjah Block 6 (PDO) (WI 2%)
Onshore Area C
Onshore Area A • Largest asset covering around 1/3 of the country.
Abu Dhabi
Abu Dhabi Offshore 1, 2, 3 (WI 30%) Offshore 1
• Average oil production volume of 654 KBPD (12M2023)
• High potential prospective resources with significant Abu Dhabi • Operated by Petroleum Development of Oman (WI 60%)
sizeable discoveries Offshore 3 AGP
Abu Dhabi
• Operated by ENI (WI 70%) Offshore 2 PDO (Block 6) Block 53 (WI 1%)
• Largest single onshore producing field in Oman.
Sharjah Onshore Area A (WI 25%) UAE
• Average oil production volume of 85 KBPD (12M2023)
• High potential onshore gas project to expand investments • Operated by Occidental (WI 47%)
in strategic area. OLNG

• Operated by ENI (WI 50%) Block 61 (WI 20%)

Oman Onshore
Sharjah Onshore Area C (WI 25%) Block 12
OMAN Oman Block 61
• Largest tight gas development in Middle East
• High gas & condensate potential with the possibility of • Gas and condensate daily production rate of 1,455 MMSCFD
integrating with surrounding fields and 56 KBPD (12M2023).
• Operated by ENI (WI 50%) Mukhaizna
• Operated by BP (WI 40%)
(Block 53)
Midstream Exploration

ADNOC Gas Processing (WI 2%) Onshore Block 12 (WI 20%)

• One of the largest gas processing complexes in the world • Operated by TotalEnergies (WI 80%)
(total capacity of 8 BCFD)
• JV: 3 plants with capacity of 1.2 BCFD Midstream
• ADNOC: 2 plants with capacity of 6.9 BCFD
• Essential to Abu Dhabi and UAE economy
OMAN LNG (WI 2%)
• Sizable volume of Propane, Butane and Naphtha • The only LNG facility in Oman.
• Operated by ADNOC (WI 68%) Production phase • Operated by Government of Oman (WI 51%)
Exploration phase
Midstream

31
Rest
E&Pof the World
Business – Africa
Algeria
Production
433a & 416b (WI 35%)
• Oil production consisting of block 433a, 416b
• Operated by GBRS (WI 35%)
• Average Daily Production volume of crude at 16 KBPD
Hassi Bir Rekaiz (WI 49%)
Bir Seba Hassi Bir Rekaiz
Mozambique
ALGERIA
• HBR oil field consisting of block 443a, 424a and 415ext Development
• Operated by GHBR (WI 49%)
• Average Daily Production volume of crude at 14 KBPD Area 1 (WI 8.5%)
• It is currently conducting the study and plan for the second
phase development to increase production to 30,000 and • Construction phase for LNG facility with capacity 13.1
60,000 barrels per day by 2027 and 2030 respectively MTPA (2 trains).
• Currently under Force Majeure due to local security
situation.
• The project is currently in the process of evaluating the
possibility and preparing to return to the area in the
Development 1H2024.
MZA1
• Operated by TotalEnergies (WI 26.5%)
MOZAMBIQUE

Production Development

32
 Reserves
MMBOE Reserves Life 2023 by Geography
2,500 2,286 2,280
2,123 9.8 Years Domestic International
2,280
2,000
844 844
773 1,436 47%
1,500 6.2 Years
48%
52% 53%
1,000
1,442 1,436 P1 P1 + P2
1,350
500
2023 by Product Type
-
2021 2022 2023 Gas Liquid
2,280
Proved (P1) Probable (P2)
27%
1,436
5-Year Average Proved Reserves Replacement Ratio (RRR)
25%
2021 2022 2023 73%
1.9x 2.0x 1.8x 75%

Note: - Based on average production per day of natural gas, condensate, and crude oil (including LPG) of 638 KBOED for the year P1 P1 + P2
ended December 31, 2023
- Included reserves and production under Equity Method

As of December 2023 33
DIVERSIFY For the Future
New business portfolio readiness for Energy Transition
Advanced Technology Low Carbon Business

AI & Robotic Offshore CCSaaS Hydrogen

Renewables

Scale up ARV business Build power portfolio to Build domestic foothold Build capabilities to
through ARV core & support future energy and pursuing strategic support business
6 subsidiaries expansion entry internationally expansion

34

Unmanned Robotic Technologies and
Data Analytics for Marine, Offshore
and Underwater Assets
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
JOINT VENTURES ROVULA
ARV is a Ventures Builder principally engaged in the research,
development and provision of solutions using Artificial Intelligence
and Robotics technologies, as well has ventures ideation, incubation,
development and commercialization.
AI-driven and Autonomous Aerial
Drone Technologies, Operations and
Data Analytics for Various Industries
and Operations
HORRUS
Autonomous Nested Drone
Systems for Asset Inspection,
Surveillance and Mapping
SKYLLER PLAFORM
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
JOINT VENTURES SKYLLER
VENTURES BUILDER BUSINESS UNITS
ARV has successfully spun-off start-ups into separate legal
entities focused on further commercialization and
development of their respective deep-tech domains.
One-Stop Agriculture and Climate Health Solutions Platform that Software Solutions for Security, Geospatial Location Intelligence
Technology Solutions Simplifies Data Access, Manage Privacy, and Data Controlling in the Platform and AI Technology to provide
Security and Accelerates the Creation Web 3.0 advanced location insights
of Digital Health Solutions
CITY DIGITAL
AiANG SPRAYER UAV HEALTH APPLICATIONS DATA PLAFORM
Platform to supporting cities to
UAV for blanket and precision- Variety of completed health operate urban infrastructure
spraying services for various applications for health and components and services
efficiently with data connectivity
crops wellness solutions Automatic and Seamless Verification of
Digital Signature with with E-Power of
MUNICIPAL TAX
SMART FOREST HARDWARE SOLUTIONS Attorney and National Identities of the Singers PLATFORM
Green Area management Seamless integrate to software in any corporate transactions with global
One-stop tax collection &
platform and carbon credit with IoT and Robotics solutions interoperability valuation intelligent system to
solutions facilitate citizens for submission
of online petition form, payment
check and status tracking
KANNA CARBOM FARMING BUILDING BLOCKS
Mobile application for productivity BUILDING PERMIT
Data management and software PLATFORM
improvement and carbon project API platforms for building the
The integration of AI and GIS to
registration custom-made digital health
streamline rive accurate, quick
solutions. and convenient permission
processes for officer and citizen
CARBON CREDIT TRUSTME
TOKENIZATION PLATFORM AI HEALTH PRODUCTS Secured Wallet that keeps all identities and ASSET MANAGEMENT
Platform enables seamless trading AI-powered solutions for personal data PLATFORM
Allows government offices to
of carbon credit using blockchain personalized health care and monitor, review and update assets’
technology precision medicine status for informed evaluation and
decision making
JOINT VENTURES VARUNA JOINT VENTURES CARIVA JOINT VENTURES BIND JOINT VENTURES BEDROCK
35
 Net Zero 2050

2020 2030 2040 2050

Base Year
30%
GHG Intensity*
50%
GHG Intensity
NET ZER
Greenhouse Gas Emissions
Reduction Reduction E&P, Operational Control
SCOPE 1 & 2

*Intensity refers to GHG released in Tonne CO2e per thousand tonnes of

hydrocarbon production 36
 ESG Disclosure & Ratings
100 80 60 40 20
Social Human
Development Resource
Human
Economic Rights
ESG AAA AA A BBB BB B CCC
Climate & Disclosure Health &
Environment Safety
Innovation & Supply Chain
Technology ESG Ratings
Governance, Risk 1 2 3 4 5
Management &
Compliance

A A- B B- C C- D D- No Response
ESG Standards

Global Reporting
Initiative Reporting Standards
(GRI Standards)
0-10 10-20 20-30 30-40 40+
Oil and Gas Sector Disclosures
(OGSD)
As of December 2023 Source: S&P Global, MSCI, Moody’s, CDP, SUSTAINALYTICS’ websites 37
 Thailand Energy Market
Natural Gas Supply Natural Gas Consumption Electricity Generation
MMSCFD MMSCFD GWH

FY 2021 FY 2022 11M 2023

FY 2021 FY 2022 11M 2023

FY 2021 FY 2022 11M 2023

Domestic Myanmar LNG 4,688 Electricity Industry GSP NGV 4,441 58% 3% 14% 15% 10% 205,725
OVERVIEW

Domestic Myanmar LNG 4,274 Electricity Industry GSP NGV 4,143 53% 3% 17% 16% 10% 215,838

Domestic Myanmar LNG 4,726 Electricity Industry GSP NGV 4,395 54% 2% 17% 16% 11% 209,717

0%
0 1,000 2,000 3,000 4,000 5,000 0 1,000 2,000 3,000 4,000 5,000 Natural 20%
Gas 40%
Hydro60%
Electricity80% Coal
100%
& Lignite
Imported Renewable Energy Diesel

11M 2023 Thailand’s Oil and Gas Supply 12M 2023 Thailand Petroleum Production Midstream
% by Petroleum Type and Area
Onshore 10% Gas: operated by PTT Oil: PTT participates
Crude Oil & Condensate Natural Gas 8% through subsidiaries
∼ 1.1 m BOE/D ∼ 0.8 m BOE/D Gas
75% Offshore Transmission Pipelines
VALUE CHAIN

90% Gas Separation Plants Refineries

Liquid
12% 25%

56% 44% % Production by Company

PTTEP Downstream
88% 72%
Petrochemicals
Others Oil and gas marketing
28%
Source: Energy Policy and Planning Office (EPPO) and Department of Mineral Fuels (DMF) 38
Thailand Energy Market
9M 2023 Oil Balance 9M 2023 Natural Gas Balance
Maintains the stability of country supply through adequate refining capacity Main driver of Thailand’s economy

Import (88%) Indigenous (12%) Gulf of Thailand (49%) Onshore(2%)

Onshore (2%) Import (49%)
1,033 KBD 135 KBD
Others Myanmar
SUPPLY

22% 25%
PTTEP LNG
78% 75%

Crude/ Crude/ 2,186 Bypass Gas 204 MMSCFD

Condensate Condensate MMSCFD
967 KBD 122 KBD
Total Refining Capacity in Thailand
PRODUCTION

1,241 KBD 6 Gas Separation Plants

Total Capacity 2,870 MMSCFD
Imported @ Actual Heat
Refined Crude 101 2,207
Petroleum Export MMSCFD MMSCFD
Products 13 KBD
66 KBD PTT’s Associated Refineries 770 KBD (TOP, PTTGC, IRPC)
Other Refineries 471 KBD (SPRC, BCP) Methane
1,212 MMSCFD
Refined Refined 771 MMSCFD
Products Products (17%)
1,081 KBD * 176 KBD
Domestic Export Petrochemical Ethane
Propane
Power (63%)
957 KBD ** 189 KBD Feedstock LPG
(10%) NGL
SALES

Industry (17%)
Industry
Household LPG NGV (3%)
Transportation
(7%)

Source: PTT
Note: * Refined product from refineries = 1,004 KBD, including domestic supply of LPG from GSPs and Petrochemical Plants = 77 KBD
** Included Inventory
MMSCFD @ Heating Value 1,000 Btu/ft3
39
 HISTORY of Thailand Energy Security
Thailand’s Energy consumption is continuously rising

Thailand Primary Energy Supply and Consumption

Million Tonne Oil equivalent

THAILAND
Energy Mix
140
Domectic Renewable by source
Domestic Crude
120 Domestic Condensate
Domestic Natural Gas Imported
Domestic Lignite Electricity 4%
100 Domestic Hydro 13%
Imported Oil
Renewables

IMPORT
Imported Coal
80
Imported Electricity Coal 16%
• Power gen
Imported Natural Gas
Consumption
60

DOMESTIC
40 Oil 36%
• Transportation
• Petrochemical
20

Natural Gas
1995
1996
1997
1998
1999

2020
2021
2022
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009

• Power gen 34%

• Petrochemical
• Transportation

Source: Energy Policy and Planning Office Energy Partner of Choice

2022 40
Renewable includes modern renewable sources and conventional biomass, e.g. firewood, rice husk and agricultural waste 40
Key Fields Supplying Gas to Thailand
Most are matured and required high investment to prolong plateau

Thailand Gas Demand and Supply

Gulf of Thailand Myanmar Contracted LNG
Malaysia-Thailand JDA Onshore Gas
6

5 4.7 4.8 4.8 4.8 4.9 4.8 4.8

4.6 4.5 4.5 4.5 4.6 TH Gas
4.4
4-5 MTPA Demand
SPH 7-8 MTPA
Yadana 4 Gas Supply
To be filled
Gas Supply @ Asset GCV, BSCFD
Contracted LNG
Zawtika
Onshore
f
3 Myanmar
GSP capacity
MTJDA

G1/61 2 C4 & small fields

Arthit Arthit
C4
G2/61
MTJDA G2/61
1

G1/61
0
2024 2030 2035
G2/61

Energy Partner of Choice

Source: PTTEP Assets and PTT
41 G2/61 41
E&P Projects Detail - Thailand
Production Volume
Project Name Status Phase Participating Interest* (%) Latest Status
Gas Liquid
(MMSCFD) (KBPD)
1 Arthit OP Production PTTEP 80% 326 16 • Gas delivery at the level beyond commitment to compensate
Chevron 16% shortfall from G1/61
MOECO 4%
2 B6/27 OP Production PTTEP 100% - - • Prepare for decommissioning activities
• Final Decommissioning Plan (FDP) and Decommissioning Cost
Estimation (DCE) were approved by DMF
3 B8/32 & 9A JV Production PTTEP 25.00% 23 6 • Production resumed at the beginning of October 2023.
Chevron 51.66%
MOECO 16.71%
KrisEnergy 4.63%
Palang Sophon 2%
4 G12/48 OP Production PTTEP 66.67% 5 0.1 • PTTEP acquired additional 33.3333% stake from TotalEnergies, the
completion of the SPA is in progress
• Normal operations
5 Contract 4 (Pailin) JV Production PTTEP 60% 400 16 • On-going drilling additional development wells activities.
Chevron 35%
MOECO 5%
6 E5 JV Production PTTEP 20% 6 - • Maximize gas potential at CDC level.
ExxonMobil 80%

Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project

** Production volume represent average volume for 100% of the project in 2023
*** Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship/ JV = PTTEP Joint Venture Partner
**** DCQ = Daily Contractual Quantity 42
E&P Projects Detail - Thailand
Production Volume
Project Name Status Phase Participating Interest* (%) Latest Status
Gas Liquid
(MMSCFD) (KBPD)
7 G4/43 JV Production PTTEP 21.375% 0.5 0.8 • Production resumed at the beginning of October 2023.
Chevron 51%
MOECO 21.25%
Palang Sophon 6.375%
8 G4/48 JV Production PTTEP 5% - - • Decommissioning activities in progress
Chevron 71.25%
MOECO 23.75%
9 L53/43 & L54/43 OP Production PTTEP 100% - 1 • Started 1st oil production in Q2/2023

10 PTTEP 1 OP Production PTTEP 100% - 0.1 • Maintain production plateau

11 S1 OP Production PTTEP 100% 4 Crude: 25 KBPD • On-going drilling development wells activities.
LPG: 163 • On-going production optimization and long-term development
MTon/Day according to proposed business plan and work plan's activities.
12 Sinphuhorm OP Production PTTEP 55% 92 0.2 • Maximize gas/oil production.
Apico 35%
ExxonMobil 10%
13 L22/43 OP Production PTTEP 100% - - • Completed evaluation of drilling results to determine further
production/ development plans.

Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project

** Production volume represent average volume for 100% of the project in 2023
*** Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship/ JV = PTTEP Joint Venture Partner 43
E&P Projects Detail - Thailand
Production Volume
Project Name Status Phase Participating Interest* (%) Latest Status
Gas Liquid
(MMSCFD) (KBPD)
14 MTJDA JOC Production PTTEP 50% 287 9 • Normal operations
CPOC 50% • On-going drilling activities on development and exploration/
appraisal wells.
15 G9/43 OP Exploration PTTEP 100% - - • Activity suspended (located in Overlapping Claims Area between
Thailand and Cambodia)
16 G1/61 (Erawan) OP Production PTTEP 60% 295 Condensate: • Maintain gas sales at 400 MMSCFD
Mubadala 40% 7 KBPD • Continue drilling new production wells
Crude: 9 KBPD
17 G2/61 (Bongkot) OP Production PTTEP 100% 810 25 • Maintain average gas production at 825 MMSCFD
(included (included • Continue drilling development wells
Bongkot Bongkot • On-going constructing and installing the production platforms.
Concession @ Concession @ 4
125 MMSCFD) KBPD)

18 G1/65 OP Exploration PTTEP 100% - - • The project’s annual work program and budget was approved by the
Department of Mineral Fuels, and will start the exploration well
drilling in 2025.
19 G3/65 OP Exploration PTTEP 100% - - • The project’s annual work program and budget was approved by the
Department of Mineral Fuels, and will start the exploration well
drilling in 2024.

Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project

** Production volume represent average volume for 100% of the project in 2023
*** Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship/ JV = PTTEP Joint Venture Partner 44
E&P Projects Detail – SEA
Production Volume
Project Name Status Phase Participating Interest* (%) Latest Status
Gas Liquid
(MMSCFD) (KBPD)
1 Malaysia Block K OP (Kikeh & SNP) Production PTTEP Kikeh 56% • The project had an unplanned shutdown about 1.5 months in the
- Kikeh JV (GK) SNP 22.4% 12 21 second quarter to clean and inspect the vessel’s cargo tank and
- Siakap-North Petai field (SNP) GK 7.17% extend certification.
- Gumusut-Kakap field (GK)

2 Malaysia SK309 and SK311 OP Production PTTEP 42 – 59.5% 215 16 • Normal operations

3 Malaysia Block H OP Production PTTEP 42 – 56% 217 0.3 • The project produced natural gas lower than plan, caused by a 1-
month shutdown in Q1/2023, due to the technical issues of buyer’s
vessel (PFLNG 2).
4 Malaysia – Other projects OP Exploration PTTEP 42.5 - 80% - - • SK410B : Completed FEED study for LLB
(varied by • SK417 : Preparing to drill appraisal well and evaluating prospects well.
permits) • SK405B : Completed reservoir modeling design of the Sirung field.
• SK438 : Completed drilling activities for 2 exploration well and is in
the evaluation process. The result showed massive sweet gas
sandstone reservoirs with thickness up to 200 meters, considered as
another sizable field.
• SK314A : the project completed one exploration well (Mong Merah-1).
• SB412 : On-going 3D seismic reprocessing, evaluating prospects well
and G&G study.
5 Yadana (Myanmar) OP Production PTTEPI 37.1% 516 - • Major activities were completed as planned.
Chevron 41.1%
MOGE 21.8%
6 Zawtika : M9 & a part of M11 OP Production PTTEP 80% 329 - • Maintain operations
(Myanmar) MOGE 20% • Continue Phase 1D drilling activities

Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project

** Production volume represent average volume for 100% of the project in 2023
** Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship/ JV = PTTEP Joint Venture Partner 45
E&P Projects Detail - SEA
Production Volume
Project Name Status Phase Participating Interest* (%) Latest Status
Gas Liquid
(MMSCFD) (KBPD)
7 Myanmar M3 OP Exploration PTTEP 100% - - • Pending for development

8 Vietnam 9-2 JOC Production PTTEP 25% 9 4 • Submitted the proposal for Petroleum Contract Extension (5 yrs.) to
Vietnam Oil 50% Vietnamese Government
and Gas Group
Pharos Energy 25%
9 Vietnam 16-1 JOC Production PTTEP 28.5% 5 11 • Submitted the proposal for Petroleum Contract Extension (5 yrs.) to
Vietnam Oil 41% Vietnamese Government
and Gas Group
Pharos Energy 28.5%
OPECO 2%
10 Vietnam B & 48/95 JV Exploration PTTEP 8.5% - - • In the negotiation process on commercial terms in order to push
Vietnam Oil 65.88% forward the Final Investment Decision (FID)
and Gas Group
MOECO 25.62%
11 Vietnam 52/97 JV Exploration PTTEP 7% - - • In the negotiation process on commercial terms in order to push
Vietnam Oil 73.4% forward the Final Investment Decision (FID)
and Gas Group
MOECO 19.6%
12 Natuna Sea A JV Production PTTEP 11.5% 113 1 • Continue further compression project activities
(Indonesia) Harbour Energy 28.67%
KUFPEC 33.33%
Petronas 15%
Pertamina 11.5%

Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project

** Production volume represent average volume for 100% of the project in 2023
*** Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship/ JV = PTTEP Joint Venture Partner 46
E&P Projects Detail – Middle East
Production Volume
Project Name Status Phase Participating Interest* (%) Latest Status
Gas Liquid
(MMSCFD) (KBPD)
1 Abu Dhabi Offshore 1 JV Exploration PTTEP 30% - - • G&G study is ongoing
(UAE) Eni 70%
2 Abu Dhabi Offshore 2 JV Exploration PTTEP 30% - - • The project has successfully made significant gas discovery, in a
(UAE) Eni 70% deeper zone, of the exploration well XF-002. Currently, it is in
progress of Geological study and further evaluation of petroleum
potential for drilling another exploration well.
3 Abu Dhabi Offshore 3 JV Exploration PTTEP 30% - - • G&G study is on-going
(UAE) Eni 70%
4 Sharjah Onshore Area A JV Exploration PTTEP 25% - - • In progress of additional geological study exploration well drilling
(UAE) Eni 50% preparation
SNOC 25%
5 Sharjah Onshore Area C JV Exploration PTTEP 25% - - • 3D seismic survey has completed
(UAE) Eni 50% • It is in the process of data processing to assess its petroleum
SNOC 25% potential.

6 Oman Block 6 (PDO) JOC Production PTTEP 2% - 654 • Normal operations

Petroleum
Development of Oman 60%
Shell 34%
TotalEnergies 4%

Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project

** Production volume represent average volume for 100% of the project in 2023
*** Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship/ JV = PTTEP Joint Venture Partner
47
E&P Projects Detail – Middle East
Production Volume
Project Name Status Phase Participating Interest* (%) Latest Status
Gas Liquid
(MMSCFD) (KBPD)
7 Oman Block 53 JV Production PTTEP 1% - 85 • Normal operations
Occidental 47%
OOCEP 20%
Indian Oil 17%
Mubadala 15%
8 Oman Onshore JV Exploration PTTEP 20% - - • Review G&G study result
Total E&P Oman 80% • Plan for exploration wells drilling in 2024
Block 12
Block 12 B.V.
9 Oman Block 61 JV Production PTTEP 20% 1,455 56 • Normal operations
BP 40%
Makarim Gas 30%
Development LLC
Petronas 10%

Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project

** Production volume represent average volume for 100% of the project in 2023
*** Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship/ JV = PTTEP Joint Venture Partner
48
E&P Projects Detail – Rest of the World
Production Volume
Project Name Status Phase Participating Interest* (%) Latest Status
Gas Liquid
(MMSCFD) (KBPD)
1 PTTEP Australasia OP Exploration PTTEP 90%-100% - - • Divested entire interests in Cash Maple (AC/RL7).
• Transfer its interests in Katandra Field (AC/RL10) to Bengal Energy
Ltd.
• Relinquished Tenacious Field (AC/RL4) to Australian government
2 Mozambique Area 1 JV Development PTTEP 8.5% - - • The project is still under Force Majeure and suspension
TotalEnergies, 26.5% • The current situation has continuously improved
Mitsui, 20% • The project is currently in the process of evaluating the possibility
ENH, OVL 15%, 10% and preparing to return to the area in the 1H2024.
OVRL & Oil India , 10%, 10%
Bharat
3 Algeria 433a & 416b JOC Production GBRS 35% - 16 • Continue drilling new wells and intervention existing wells.
(Bir Seba) PetroVietnam 40%
Sonatrach 25%
4 Algeria Hassi Bir Rekaiz OP Production GHBR 49% - 14 • Normal operations
Sonatrach 51% • Achieved production ramp-up from 13 KBPD to 17 KBPD since August
2023
5 Mariana Oil Sands OP Exploration PTTEP 100% - - • Completed the block relinquishment
(Canada)

Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project

** Production volume represent average volume for 100% of the project in 2023
*** Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship/ JV = PTTEP Joint Venture Partner
49
E&P Projects Detail – Rest of the World
Production Volume
Project Name Status Phase Participating Interest* (%) Latest Status
Gas Liquid
(MMSCFD) (KBPD)
6 Mexico block 12 (2.4) JV Exploration PTTEP 20% - - • In process of the block relinquishment
Petronas 60%
Ophir Mexico 20%

7 Mexico block 29 (2.4) JV Exploration PTTEP 16.67% - - • Pre-development study in progress of Polok and Chinwol fields
Repsol 30%
PC Carigali
Mexico 28.33%
Wintershal DEA 25%
8 Block 17/06 JV Development PTTEP 2.5% - - • Divestment completed in December 2023.
(Angola) TotalEnergies 30%
Sonangol 30%
SSI 27.5%
Acrep 5%
Falcon Oil 5%
9 Dunga JV Production PTTEP 20% 2 11 • Normal operations
(Kazakhstan) TotalEnergies 60%
OOCEP 20%

Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project

** Production volume represent average volume for 100% of the project in 2023
*** Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship/ JV = PTTEP Joint Venture Partner 50
Midstream Projects Detail
Production Volume
Project Name Status Phase Participating Interest* (%) Latest Status
Gas Liquid
(MMSCFD) (KBPD)
1 Oman LNG Shareholder Production PTTEP 2% N/A N/A • Normal Operations
Government of 51% • Total capacity 10.4 MTPA
Oman • Signed the Shareholder Agreement, in October 2023, to extend for an
Shell 30% additional 10 years until 2034
TotalEnergies 5.54%
Korea LNG 5%
Mitsubishi 2.77%
Mitsui 2.77%
Itochu 0.92%
2 ADNOC Gas Processing JV Production PTTEP 2% N/A N/A • Normal Operations
(AGP) [UAE] ADNOC 68% • Total capacity 8 BCFD
Shell 15%
TotalEnergies 15%

Note: * PTTEP denotes respective PTTEP subsidiaries participating in the project

** Production volume represent average volume for 100% of the project in 2023
*** Status: OP = PTTEP operatorship / JOC = PTTEP joint operatorship/ JV = PTTEP Joint Venture Partner 51
 Organization Structure
Ensuring performance excellence, transparency, and good corporate governance

Board of Directors

Corporate Governance and Nominating and Remuneration

Sustainability Committee Committee

Audit Committee Risk Management Committee

Internal Audit Division Chief Executive Officer

E&P Legal Division Safety, Security, Health

and Environment Division

Branding, Communications, and Corporate Secretary

Knowledge Intelligence Division and Assurance Division

Strategy, Business Technology, Geosciences, Engineering,

Finance and Domestic International
Development, and Carbon Solutions Operations Subsurface, and Development,
Accounting Production Production
Human Resources and Sustainable Support Group Exploration and Maintenance
Group Asset Group Asset Group
Group Growth Group Group Group

52
Ratios and Formula
Oil and Gas Reserves Leverage
Reserves Total Debt Short-term loans from financial institution + Current portion of long-term
5-Yr Additional Proved Reserves / 5-Yr Production Volume debts + Bonds + Long-term loans from financial institution
Replacement Ratio
Net Debt Total debt – Liquidity
Reserves Life Index
Proved Reserves / Production Volume
(year)
Debt to Equity Total debt / Shareholders' equity
Success Ratio Number of wells with petroleum discovery / Total number of exploration
and appraisal wells Net Debt to Equity Net debt / Shareholders' equity
Profitability Total Debt to
Total debt / (Total debt + Shareholders' equity)
Capital
Sales Revenue Sales + Revenue from pipeline transportation
Total Debt to
Total debt / Trailing-12-month EBITDA
Lifting Cost (Operating Exp. – Transportation Cost – Stock Variation – Other EBITDA
(USD/BOE) expenses not related to lifting) / Production Volume Net Debt to EBITDA Net debt / Trailing-12-month EBITDA
Cash Cost (Operating Exp. + Exploration Exp. + G&A + Royalties + Finance Cost) /
(USD/BOE) Sales Volume EBITDA Interest Trailing-12-month EBITDA / Trailing-12-month Interest Expenses &
Coverage Ratio Amortization of Bond Issuing Cost
Unit Cost (Operating Exp. + Exploration Exp. + G&A + Royalties + Finance Cost +
(USD/BOE) 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
53
Conversion Table
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 per Day - - - - 49.8

Natural Gas and LNG

From MM tonnes oil
BN Cubic metres NG BN Cubic feet NG MM tonnes LNG Trillion BTU MM BOE
equivalent
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

54