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)

2 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) 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.)

3 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.

4 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)

5 IRPC Polyolefin (Planed T/A 10 days) Polystyrenic(Planned T/A 14 days)Performance (YoY) FinanceActivities Highlights :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.

6 & 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. 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.

7 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.

8 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.

9 OutlookFinancial OutlookQ2 18FY2018 Avg. 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.

10 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.