PTT Auditorium 16 May 2018

1 PTT Auditorium 16 May 2018 OverviewQ1/2018 PerformanceOutlook 2018 Contents1 OverviewPerformance OutlookPersonal Safety EmployeeContractorProcess SafetyHealth & Safety Performance 2018 Road SafetyLTA (Loss Time Accident) TRIR (Total Recordable Injury Rate)PSE Tier 1 (Process Safety Event Tier 1) TROIR (Total Recordable Occupational Illness)321201620172018*LTA1persons(Targ et = 0) per 200,000 *(Target )TROIR0 person000201620172018*(Target = )LTA0persons520201620172018*(Target = 0)TRIR0 per 200,000 hrs(Target )PSE Tier I0 case200201620172018*(Target = 0)PSE Tier II0 case200201620172018*(Target = 0)Truck cases/ 1 *(Target ) *Car Accident2 cases(Target )14132201620172018*(Target 10)22018* = Q1/2018 Rewards & RecognitionsCorporate Governance Asia Recognition Awards Asia s Icon in Corporate Governance (13rd consecutive years) Asian Corporate Director Recognition (6th consecutive years)Thailand s Most Admired Brand Brand Maker 2018 Executive of the Year 2018 Popular Stock Award of year 2017 (6th consecutive years)

2 3 Platts rankCompany1 Gazprom5 Sinopec6 LUKOIL Oil9 Exxon Mobil10 TOTAL12 PTT22 RosneftOil23 Royal Dutch Shell35 Repsol57 PetroChina65 MOL Hungarian O&G 83 husky energy Inc86 PGNiG87 EcopetrolSA 99BP101 Suncor Energy121 Chevron138 Eni141 Petrobras145 GalpEnergia, SGPS155 StatoilN/APetronasPTT vs PeersThe first 20 ranking integrated Oil & Gas companies 2017 (1) + Petronas (comparable Co.) 1) PTT Peer Selection2) PTT ROIC vs PeersNote: (1) Plattsranking base on: Asset, Revenues, Profits, ROIC(2) Source from Bloomberg -20-15-10-505101520253020082009201020112 01220132014201520162017% ROICPTT achieved 1stQuartile ROIC in 2016- 2017 PTT ROIC4thQuartile1thQuartile2thQuartile3th Quartile4 OverviewPerformance Outlook31323334353637 Jan-16 Apr-16 Jul-16 Oct-16 Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 Apr-18 Appreciated (YoY) ( ) 10050090013001700 Jan-16 Apr-16 Jul-16 Oct-16 Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 Apr-1824681012 Jan-16 Apr-16 Jul-16 Oct-16 Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 Apr-18 LNG (JLC)JKM SpotAvg.

3 Pooled Gas105090 Jan-16 Apr-16 Jul-16 Oct-16 Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 Apr-18NG Prices ($/MMBTU)* JLC = Japan LNG Cocktail : Landed LNG price in JapanKey Business Drivers: Oil and gas prices surge substantially Note: Figures are average1,128 Dubai vsFO ($/BBL)Petchem($/Ton)FX (USD/THB)DubaiFOHDPE Price400PX-Naphtha SpreadJLC* Pooled , Naphtha (MOPJ) , 12%17%PX-Naphtha 23%2% *14%18%JKM34%28%Avg. Pooled3%11% ,2261, , (QoQ) THB/USD ( ) , OutlookKey Events Update (Q1 18) PTT Acquisition of IRPC shares to become Split Par (Baht 10 Baht 1 per share) NGV s price lifting in public sector ( ) Approved to establish company to operate Caf Amazon in Singapore PTTEP Acquire Bongkot( ) Win 2 blocks in Mexico bidding Win 2 blocks in Malaysia (SK417 & SK438) PTTGC EHIA for Olefins Reconfiguration Project PTT GSP#2 (Planned T/A 16 days) PTTGC BPE plant (Planned T/A 15 days) IRPC Polyolefin (Planed T/A 10 days) Polystyrenic(Planned T/A 14 days)Performance (YoY) FinanceActivities Highlights.

4 6 BusinessPerformanceUpstreamPTTEPCoalMids treamGasDownstreamOilTradingPetchemRefin eryInfrastructurePowerRepayment (PTT Group) USD 310 MM of Clubloan(PTT) THB Bnof Bond (PTTEP) THB Bnof Loan /USD 10 MM of Loan/EUR MM of Loan (PTTGC & Sub) USD 85 MM Bnof Loan (IRPC)Loan Drawdown THB Bn(PTTGC sub.) THB Bn(TOP Sub.) THB Bn(GPSC Sub.)Q1/18 Performance: Weaken performance mainly from P&R and no dividend from EPIF 7 OverviewPerformance Outlook2,000 1,145 13 4,387 2,657 178 18,58319,1958,0208,72712,37010,6152,8851 ,2514,310 MarginFX & Derivatives OPEX*Depre& Amortiza-tionOther IncomeInt. & CIT OtherQ1/17Q1/18 PTTEPPTTO thers ASP from oil price recoveryReduced sales volume * including petroleum exploration expenses and royalties46,168 MMTHB39,788 Net IncomeDividends from mutual fund (EPIF)Extra ItemsExtra ItemsPetrochem & Refining Aromatics decreased esp.

5 BZ spreadsWeaken Acc. GRM from lower stock gainOlefins drop from by-product price, despite better HDPE price3%9%57%14%OilImproved margin and volume Caf Amazon expansionGasS&M margin roseTM increased from TDC vol. GSP increased vol. and LPG marginTradingLower sales vol. due to higher market competition Coal BU from tax penaltyPTTT s sales vol. declinedOthers AffiFully CIT utilization under BOI privilege8 ContentsOverviewPerformance OutlookOverviewQ1/2018 PerformanceOutlook PricesNet Income (100%)Sales VolumeKey HighlightsLiquid ($/BBL)Gas($/MMBTU)Weighted Avg.($/BOE)MMUSD211221210939283Q1/17Q4/1 7Q1/18 LiquidGasKBOED9304349289** Includes Deferred tax from Functional currency, Current Tax from FX Revaluation, Gain/loss from Financial instruments, Gain/(loss)on FX, H1 incident Insurance Claim, and **Recurring NI313E & PGasOil & TradingP&ROthers7% QoQ20% YoY6% QoQ16% YoY5% QoQ16% YoYQoQ Selling priceincreased from the rise of oil and gas price Sales vol.

6 Dropped mainly from Bongkotand PTTEP Australasia Project NI increased was primarily due to a decrease in expenses (income tax expenses, G&A, and DD&A)YoY Selling priceincreased from the rise in oil price Sales vol. decreased from Sinphuhorm& PTTEP Australasia NI rose from higher selling price, despite vol. decreased21% YoY29342346% QoQE&P : NI improved from increased oil price despite lower sales volumeOverviewPerformance Outlook4% YoY6% QoQInterestProductionOperatorStatusExpec ted Start-upMozambique Area 1 MMTPAA nadarkoprogress on SPA negotiation with the execution of 1st SPA of with EDF 2023 Ubon(Contract 4)60%25-30 KBPDC hevronPreparing the POD with partners2021 Algeria HBRS outhwest Vietnam KBPD490 MMSCFDPTTEPP etro VietnamApproved POD, finalizing documents with partners for FID20232021 Finalizing commercial agreements1010E&P: OutlookFinancial OutlookQ2 18FY2018 Avg.

7 Sales Vol. (KBOED)~ Price ($/MMBTU)~ ~ Unit Cost($/BOE)~31~30-31 EBITDA margin (% of Sale Rev.)~70-75*Basedon FY2018 Dubai oil price at 63$/BBLE xploration Expanded portfolio in high prolific areas: Malaysia and MexicoPriority on New InvestmentsM&AGeographical: SEA, Middle East and other potential areasTarget: Focus on producing or near-producingSize: 500 1,000 MMUSD Key Pre-Development Projects1st Priority on the Bidding of Expiring ConcessionsBidding Obligations: Production: A min. production of 800 MMSCFD for G1/61 (Erawan) and 700 MMSCFD for G2/61 (Bongkot), for a period of 10 years Gas Price: Fixed gas price formula (linked to Dubai price)E & PGasOil & TradingP&ROthersOverviewPerformance OutlookSarawak Basin, MalaysiaPTTEP s Block: SK410B ( ), SK417 (80%) and SK438 (80%) with operatorshipCharacteristic: Shallow-water with low operational risk Exploration Strategy: Expect exploration drilling activities during 2018-2021 Cluster Model synergy operations within basin to optimize costs Gulf of Mexico, MexicoPTTEP s Block: Block 12 (20%) and Block 29 ( ), as non-operating partnerCharacteristic: Deep-water with high petroleum potentials and attractive fiscal regimeExploration Strategy: Joined with prudent operators.

8 Petronas & Repsol Mexico still has high potential prospective resources with significant sizeable discoveries11 PTT EBITDA Breakdown by BU sBusiness UnitQ1/17Q4/17Q1/18 QoQYoYGas-EBITDA22,49024,40025,2353%12% S&M3,6024,7184,274-9%19% TM8,7378,3069,29412%6% GSP7,6988,7748,208-6%7% NGV(1,009)(855)(812)5%20% Others3,4623,4574,27124%23%Oil-EBITDA5,9 314,5136,31840%7%Trading*-EBITDA1,9081,8 961,095-42%-43%Total**30,32930,80932,648 6%8%(Unit: MMTHB)*MIS** Included subsidiaries from all BUs11 OverviewPerformance 160219247296318304312357 374 100200300400579111315Q1/16Q2/16Q3/16Q4/1 6Q1/17Q2/17Q3/17Q4/17Q1/1884263664891290 07749731,1311,1891,0091,0361,02370774776 0278260233Q1/17Q4/17Q1/184,6274,721%QoQ% YoYFO5%18%PooledPrice3%11% Q1/17Q4/17Q1/18 Gas BU: Pooled gas picked up, NG volume decreased from PowerNG Price VS FONG Customer Breakdown$/MMBTUEGAT (14%)IPP (17%)SPP (26%)GSP (22%)Industry (16%)NGV (5%)MMSCFD 4,710 NGV Price/Sales VolumeQoQ Gas cost slightly rose, while F/O price rose following crude oil price NG sales volume slightly decreased from power NGV sales volume maintainedYoY NG sales slightly decreased from lower power demand NGV vol.

9 Dropped from demand switching to diesel and gasolineKey $/TonFuel Oil** MOPS HSFO 180 CSTAvg. Pooled gas price 2% YoY THB/KGNGV Avg. price4% YoY8% YoYQoQ2% QoQE & PGasOil & TradingP&ROthersOverviewPerformance OutlookQoQ1,103 1,153 1,139 1,134 1,176 1,133 1,138 1,226 1,379 Q1/16Q2/16Q3/16Q4/16Q1/17Q2/17Q3/17Q4/17 Q1/18431 427 420 378 375 386 395 401 407 30929728824725026526826927925,2351,7233, 602 4,718 4,274 8,736 8,306 9,294 7,698 8,774 8,208 (1,009)(855)(812)3,462 3,457 4,271 Q1/17Q4/17Q1/18 Propane (14%)Gas -EBITDAMMTHBO thersTMGSP22,49024,400S&MNGV718 740 714 170 187 168 587 613 584 183 253 246 11 12 11 Q1/17Q4/17Q1/18 GSP Sales VolumeLPG (41%)kTon1,6695% QoQ 3% YoYGas BU: Performance improved in all segmentsNGL (10%)Ethane (34%)Key HighlightsGSP Feed Cost vs PetchempriceUSD/TonFeed Cost*LPG Ex-GSP* Revised feed cost calculation from per sale volume to per GSP production volumePentane (1%)13 HDPE12% YoYQoQ TM improved due to lower expenses GSP pressured by FX appreciation and decreased vol.

10 NGV loss less from decreased public car vol. and lower expensesYoY S&M margin increased from higher pooled price and SPP vol. TM increased due to rising TDC vol. GSP greatly improved from increased vol. and LPG margin NGV loss less from price lifting in gas quality adjustment in Sep 173% QoQ1,805%QoQ%YoYHDPE12%17%LPG Ex-GSP1%9%Feed Cost4%12%E & PGasOil & TradingP&ROthersOverviewPerformance OutlookGas Business RoadmapLNG ProjectsCountry: Projected Gas Volume14 New ProjectLNG Ph#2 MajorProjectCODLNGC apacity(MTA)1010 4thonshore Midline Comp. Comp Wangnoi Nakhon Ratchasima Terminal#1 5thPipeline RA#6-RatchburiPipelineGas Facilities ExpansionE & PGasOil & TradingP&ROthersOverviewPerformance Terminal#2 LNG Terminal 1 Phase 2 : -Construction completed -COD December 2017 New LNG projects :1) LNG Terminal 1 phase 2 Extension : (Capacities expansion from 10 MTA to MTA) -Approved by Cabinet 12 Jul 2016 -Expansion capacity: MTA-Construction completed (as of Mar 18)-COD : 20192) LNG Terminal 2 (Onshore LNG Terminal )-Approved by Cabinet 11 Apr 2017 -Capacity: MTA-Approved by EIA -EPC biddingprocess-COD.