PTTEP sets a 5-year investment budget of USD 33,279 million to strengthen Thailand's energy security and support its overseas growth

Mr. Montri Rawanchaikul, Chief Executive Officer of PTT Exploration and Production Public Company Limited (PTTEP), stated that the company continues to execute its business strategy to ensure Thailand's energy security and enable long-term value creation. The strategy focuses on 3 main targets; strengthening the petroleum exploration and production business (Drive Value), reducing greenhouse gas emissions (Decarbonize) and expanding into new business in preparation for the energy transition (Diversify). To support the execution, PTTEP has set aside

a total 2026 expenditure budget of USD 7,726 million (equivalent to THB 253,027 million), of which USD 5,164 million (equivalent to THB 169,121 million) is allocated for Capital Expenditure (CAPEX) and USD 2,562 million (equivalent to THB 83,906 million) is for Operating Expenditure (OPEX).
The key business activities are as follows;

1. Maximizing production volume from current producing assets to strengthen Thailand's energy security. Main producing projects include G1/61 (Erawan, Platong, Satun and Funan fields), G2/61 (Bongkot field), Arthit, S1, Contract 4 projects and projects in the Malaysia-Thailand Joint Development Area (MTJDA). This plan also include other overseas projects in Malaysia, Oman and Algeria. The CAPEX budget of USD 3,605 million (equivalent to THB 118,064 million) is allocated to support these activities.

In addition, a comprehensive roadmap for greenhouse gas emissions reduction is in place, with the goal of achieving net zero greenhouse gas emissions by 2050. This target includes both direct (Scope 1) and indirect (Scope 2) emissions from PTTEP's exploration and production business under operational control. Interim targets have been set to reduce greenhouse gas emissions intensity by at least 30% by 2030 and 50% by 2040, relative to 2020 baseline. Among these is the Carbon Capture and Storage (CCS) project at the Arthit field in the Gulf of Thailand. The CAPEX budget of USD 118 million (equivalent to THB 3,865 million) is allocated for emissions reduction activities.

2. Accelerating the activities of key projects under the development phase, including Ghasha Concession, Abu Dhabi Offshore 2, Mozambique Area 1, Malaysia Greenfields such as Malaysia SK405B, Malaysia SK417 and Malaysia SK438 Projects, to achieve production start-up timelines

as planned, with the allocated CAPEX budget of USD 1,423 million (equivalent to THB 46,603 million).

3.Expediting exploration activities to support long-term growth. The CAPEX budget of USD 101 million (equivalent to THB 3,308 million) will be used for drilling exploration and appraisal wells in Thailand, Malaysia, Myanmar and United Arab Emirates. For 5-year investment plan (2026-2030), PTTEP allocates budget of USD 33,279 million (equivalent to THB 1,089,887 million) with details as the followings.

Unit: USD Million

	2026	2027	2028	2029	2030	2026-2030
Capital Expenditure	5,164	5,249	4,132	3,312	2,875	20,732
Operating Expenditure	2,562	2,427	2,465	2,437	2,656	12,547
Total Expenditure	7,726	7,676	6,597	5,749	5,531	33,279

Apart from the above allocations, PTTEP prioritizes sustainable business growth by focusing on investments in its exploration and production business, while ensuring the company's readiness to thrive during the energy transition. The company also remains committed to supporting communities and creating sustainable long-term value for all stakeholders.

In accordance with the investment plan, PTTEP expects its average petroleum sales volume from existing projects between 2026-2030, per the details below:

Unit: Barrel of Oil Equivalent per Day

	2026	2027	2028	2029	2030
Expected Average Petroleum Sales Volume	556,000	576,000	614,000	621,000	609,000

"PTTEP targets an average petroleum sales volume of 556,000 barrels of oil equivalent per day in 2026, representing an increase of approximately 8%. This growth reflects strong momentum from our operational expansion in Thailand and overseas this year, which has already translated into higher sales volume and revenue, and will continue to support our performance into 2026 and beyond. Key contributors include our investment in the Malaysia-Thailand Joint Development Area A18 Project, the additional participating interest in the Sinphuhorm Project, investment in the Algeria Touat Project and increased natural gas production from the Arthit Project. Over the next five years, the company expects to commence petroleum production from multiple international projects in Malaysia, Algeria and the Middle East, further strengthening petroleum sales volume and supporting growth in line with the company's strategic plan," Mr. Montri said.

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