#1HINDUSTAN OIL EXPLORATION COMPANY LTD. HOEC Ⓡ INVESTOR PRESENTATION | June 2020#2HOEC in a Snapshot HOEC First private company in India to enter the field of oil and gas Exploration & Production P+P Proved and Probable (P+P) reserves on working interest basis stood at 27.55 MMBOE as on FY19 Low Cost and Fast Track execution capabilities that differentiates it from other players HOEC has 10 blocks with discoveries producing or ready to be developed and 1 exploratory block in its portfolio Strong management team with experienced industry professionals $ Capex plans through internal accruals and cost reduction Gross production stood at 7,869 boepd and Net Production stood at 3,163 boepd for FY20 Presence in 4 out of 7 sedimentary basins in India Awarded the Oil & Gas production & development company of the year in 2018-19 (Small Category) from FIPI 2#3FY20/Q4-FY20 Operational Highlights Gross Production (BOEPD) FY20: 7,869 Q4: 5,783 Net Production (BOEPD) FY20: 3,163 Q4: 2,257 Gross Production - PY-1 (BOEPD) FY20: 736 Q4: 459 H❤EC Gross Production - Dirok (BOEPD) FY20 : 6,351 Q4: 4,586 In B-80, two subsea well drilling completed successfully during April 2020. MOPU is converted and is ready to sail-out from Middle East. FSO of storage capacity ~900,000 barrels procured and is to be dry docked. Testing from both wells in B-80 has established a production potential of >8,000 boepd Oil & Gas production being essential services production operations continued from Dirok, PY-1 and Cambay through the lockdown period starting 23rd March 2020. However, offtake issues by end consumers has reduced the production from normal Production from Dirok is gradually returning to normalcy with full capacity of gas (1 mmscmd) being produced. At Cambay, we continue to produce oil & gas as earlier. Production from PY-1 is yet to return to normalcy 3#4Board of Directors H❤EC Vivek Rae - Non Executive Independent Director/ Chairman Mr Rae, a former secretary, Ministry of Petroleum & Natural Gas, Government of India, served in the Indian Administrative Services for 36 years. Subsequent to his retirement, Mr. Rae served as a whole-time member of the 7th Central Pay commission and was on the Board of Indian Oil Corporation Limited as an Independent Director during 2017-18. Elango Pandarinathan - Managing Director Mr Elango is a veteran in the upstream Oil & Gas industry with over 30 years of experience. He has held several leadership roles and has created a number of firsts as a Business Leader. He was one of the five finalists for Platts' first-ever "Asia CEO of the Year" Award in 2013. - Ramasamy Jeevanandam Executive Director & Chief Financial Officer Mr Jeevanandam joined HOEC in February 2015, after successful stints at ONGC and Hardy Oil. He brings in sharp business acumen and has been instrumental in taking key strategic business decisions. Pronip Kumar Borthakur - Non Executive Independent Director Mr Borthakur is a well recognized and respected technical authority in the Oil and Gas sector who brings in experience of more than 37 years at ONGC, from where he retired as Director (Offshore). Rohit Rajgopal Dhoot - Non Executive, Non Independent Director Mr. Rohit has been the Managing Director of Dhoot Industrial Finance Limited since 1994 and has a plethora of experience in Finance, Banking, M&A and Strategic Planning spanning more than 20 years. Ashok Kumar Goel - Non Executive, Non Independent Director Mr. Ashok Goel is the Chairman and Managing Director of Essel Propack Limited. He possesses great business insight, sharp business acumen, and has rich experience in running and managing the business of the large conglomerate of Essel Group. Sharmila H. Amin - Non Executive Independent Director She is the South Asian Regional Director and Managing Director of Bertling Logistics. In her long career in Heavy Lift Projects Logistics, she has headed Panprojects/Oil & Gas for the South Asia Region as a part of the Panalpina Group. 4#5Geographical Presence Asjol North Balol Cambay A Palej ㅍㅍ B-80 Mumbai High Legend Onshore Oil Offshore Oil Well Onshore Well Gas Offshore Gas Onshore Exploration INDIA HOEC Kherem A Dirok Umatara A Kharsang A Assam Arakan Greater Dirok PY-1 Cauvery PY-3 5#6Competitive Advantages H❤EC Uniquely placed with a strong organization and a quality asset portfolio. HOEC will take advantage of its position to deliver superior returns and value to all stakeholders, through a 5-pronged strategy Focus on Delivered Resources Light Asset Model Low cost operating model Growing responsibly Growth strategy Focus on discovered oil and gas resources to reduce the risk involved in exploration Fast track execution to bring resources to monetization at the earliest Follow light-asset model in an otherwise capital-intensive industry Focus on our core operations (Drilling for Oil/Gas) and outsource other associated tasks to expert partners Follow a low-cost operating model Self-funding company with sustainable cash flows from its key producing assets Create long-term stakeholder value while ensuring that we 'Grow Responsibly' Continue to build its portfolio with a focus on respect and care for individuals, the community and the environment Focus on the North-East region while also focusing on its offshore resource base Take advantage of existing infrastructure, and add attractive assets with synergies to its current asset portfolio 6#7Our Partners ऑयल इंडिया लिमिटेड Oil India Limited ( इंडियन ऑयल) GSPC IndianOil H❤EC | ओएनजीसी P ongc We are the private partner of choice for PSU companies गेल G GAIL Prize PETROLEUM Prize Petroleum Company Ltd.. www.prizepetroleum.com Gujarat Natural Resources Limited Adbhoot Estates Private Limited 7#8BUSINESS OVERVIEW HOEC 8#9B-80: Project at an advanced stage- 50% PI 8000 boepd (Barrel of oil equivalent per day) Expected Total Production (Phase I) 13% to 30% Share of Oil to increase in production mix H EC B-80 Development - Top Priority • Two subsea development wells are drilled and • completed and ready to flow Based on production tests both the wells are capable of producing 8,000 boepd • Optimize the operating costs through in-house MOPU and FSO for evacuation • • Processing system is ready to be mobilized and the systems for evacuation for oil and gas is to be completed in the fair weather window starting from November 2020 in the west coast B-80 development will mark HOEC's successful foray into the prolific Mumbai offshore basin The project is on track for production KKKKND KKKKK Maharashtra New Lead • New lead in Deccan Trap formation of a 6m interval • This interval can potentially produce oil and gas which needs to be tested • The new lead can potentially increase the value of the block. This is to be taken up in the subsequent drilling program 9#10B-80: Field Development Plan Drilling & Completion of two subsea wells to produce Oil & Gas Processing of Oil & Gas through Mobile Offshore Processing Unit (MOPU) Processed Oil to be exported through ONGC's pipeline • FSO of storage capacity 900,000 FSO barrels Gas to be delivered to Gujarat Gas Market by tapping into an existing gas pipeline system of ONGC CRUDE TANKER MOPU WELL WELL GAS LINE RAJKOT VADODARA HAZIRA PLANT B-80 was the first offshore DSF FDP to be approved and it is on track for "First Oil" SURAT MUMBAI NAVI MUMBAI PUNE MAHARASHTR OIL LINE GAS LINE MOPU- MOBILE OFFSHORE PROCESS UNIT *NOT TO SCALE H❤EC Project Update Completed Jack-up rig procured and converted to MOPU and is ready to sail out • Drilling & completion of 2 subsea wells Successful testing of two wells with potential to produce >8000 boepd • Procured FSO 'Prem Pride' with storage capacity of 900,000 barrels To be Completed • Flexible pipelines for oil from MOPU to FSO Gas export systems connecting to ONGC pipelines 'First Oil' from B80 10#11Dirok: Priority in Assam 25.8 mmscfd 676 boepd Gas Production (in FY20) Condensate Production (in FY20) > 15% Assam Gas Production JV Partners ऑयल इंडिया लिमिटेड (इंडियन ऑयल) Oil India Limited IndianOil HOEC Pl 27% H❤EC Concentrated in India's North-East Premier Basin • Dirok gas field is located in Block AAP-ON-94/1 in Assam-Arakan Basin Oil India is the sole buyer for the gas produced in this field DIBRUGARH TINSUKIA EXISTING PIPELINE CGGS DULIAJAN KUSIJAN DIGBOI OIL'S Existing Network IOC BCPL • Production Sharing Contract signed in 1998 with the Government of India • Block has substantial potential for further exploration and development Assam Arakan Assam E NRL LTPS 35KM BURHI DIHING RIVER NAMRUP (APL, APGCL, BVFCL) Oil Existing Network Pipeline (12") Pipeline (4.5") ■■ Proposed New Pipeline (8") Oil's Existing Customers Customer pipelines 12KM REFINERY 8" Proposed Pipeline GPP BHORPOWAI 4.5" Pipeline 12" Pipeline 9KM BURHI DIHING RIVER DIROK-1, 2&3 DIROK -5&6 MARGHERITA DIROK-4 &GGS NOT TO SCALE 11#12Dirok: Field development • First phase of development involved the following Drilling and completion of 6 development wells- 3 re-entry and 3 new wells • Set up a Gas Gathering Station • . Set up a Gas Processing Plant with a capacity of 40 mmscfd Laid pipelines tied to the existing infrastructure to export gas and condensate DRILLING Phase II (To be Completed) PROCESSING DELIVERY • Laying of 35km pipeline to connect directly to Duliajan hub . Drilling of 3 development wells to increase production from 35 mmscfd to 55 mmscfd Dirok is a successful fast-track development with an outsourced model for processing HOEC 12#13PY-1: Enhancing Production and Offtake Arrangements • • USD 3.65 Realised Price per MMBTU 55 mmscfd 56 km Processing Capacity Sub sea pipeline Cauvery Only offshore platform in Cauvery Basin with 8 slots and four wells drilled Unique, predominantly gas-bearing reservoir and the only offshore fractured granitic basement reservoir in India • G&G studies are being planned for the full field development HOEC Clients गेल G GAIL Pl CPCL 100% GAIL is the sole buyer for the gas produced in this field HOEC Tamil Nadu 13#14Kharsang: Phase I Development Plan 650 boepd 30% Current Oil Production Direct + Indirect Pl 18 Number of Wells to be drilled Field Overview • . • • • The Kharsang oil field is located in the state of Arunachal Pradesh and 60 kms away from Dirok Post drilling of 18 wells, production expected to increase to 1800 boepd HOEC acquired entire share capital of M/s Geopetrol International Inc in 2018 which has 30% stake - Direct and Indirect in Kharsang Oil field RFDP & PSC extension reviewed and recommended by Management Committee Forest Clearance is obtained. Mining lease approval is obtained and PSC extension is awaited Proposed drilling campaign will include appraisal of deeper prospects H❤EC 14#15Cambay: Developments 90 bopd 0.38 mmscfd Total Oil Production (FY20) Total Gas Production (FY20) Asjol, North Balol and Palej Cambay Marginal fields at Cambay Developments Asjol Revised Field Development Plan approved and Production Sharing Contract (PSC) extended up to 2030 Gujarat • North Balol - Revised Field Development Plan undergoing approval process • CB-ON-7 (Palej) HOEC Asjol An additional 97.15 sq. km of R2 area has been granted to the JV in CB-ON-7 • The PSC for the same is expected to be executed at the earliest • The project would involve a commitment of 3D seismic and drilling of 2 wells JV Partner GSPC HOEC PI GSPC 50% Palej North Balol JV Partners JV Partners HOEC PI 35% GSPC GNRL HOEC PI 25% ओएनजीसी OnGc Increase production by implementing revised field development plans where developed infrastructure is available and by adding additional area with synergies New PRD-1 P9 PRD-2PRS P R5 P8 Discovery Surrendered Area from CB-ON/7 M5 Proposed 97.15 Km Ring Fenced Contract Area-CB-ON7 Hazad Leads 15#16Other Blocks HOEC Development Application for Forest Clearance and PML is in process A Kherem . Block awarded under DSF-2016 • • Tested - Oil 402 bopd Field Plan- 2 wells to be completed in 3 years from date of receiving PML HOEC PI 40% JV Partners ऑयल इंडिया लिमिटेड Oil India Limited Prize PETROLEUM Prize Feteleum Company L www.prizepetnoleum.com • Block awarded under DSF-2019 Umatara . Located at a distance of 50 km from Dirok field 10% ( इंडियन ऑयल) Jointly operated by IOC (Lead operator) & HOEC IndianOil Field under shutdown since July 2011 眦 H HOEC has 21% non-operating stake in PY-3. Operates PY-1 Gas field with an offshore platform and onshore processing facilities close to PY-3 field 21% PY-3 • PSC extended till 2030 Hardy Oil and Gas plc ओएनजीसी OnGc • Last production (100%) - 3,300 boepd AA-ONHP- 2017/19 (Greater Dirok) • Block awarded under OALP Bid Round 2019 Exploratory block adjacent to Dirok block with associated synergies both surface and sub-surface 100% 16#17Production Sharing Model Investment Multiple HOEC Aggregate value of Net Cash Income Aggregate value of Investments *Aggregate value to be taken from the production/investments year when first incurred Net Cash Income Cost Petroleum + Profit Petroleum + Companies' all incidental income arising from petroleum operations Companies' production costs and royalty payments Investments Companies' exploration cost + Companies' development cost Profit Petroleum shall be shared between Government and Contractor in accordance with value of Investment Multiple earned by the Contractor 17#18Investment Multiple under PSC H❤EC Block AAP-ON-94/1 PY-1* PY-3* North Balol Kharsang* CB-ON-7 Asjol* Gas 10% 10% 10% 10% Royalty Oil/Cond 20% INR 481/MT 10% INR 481/MT 20% INR 481/MT Cess Oil/Cond 20% INR 900/MT 20% 0% INR 900/MT 20% INR 900/MT Cost Recovery 80% 100% 100% 80% 100% 60% 100% Limit Investment Multiple <1 0% 0% 10% 20% 5% 0% 0% 1<1.5 10% 5% 10% 20% 5% 25% 10% 1.5<2 25% 5% 25% 30% 10% 30% 20% 2<2.5 35% 50% 40% 50% 15% 35% 30% 2.5<3 45% 50% 50% 50% 20% 40% 40% 3<3.5 50% 50% 60% 50% 25% 45% 50% >3.5 50% 50% 70% 50% 30% 50% 50% - Royalty & Cess listed as per current PSC regime. Subject to change once PSC is revised ** - All JV Partners to share Cess and Royalty in proportion to their Participating Interest 18#19Revenue Sharing Model % of Govt. share of revenue 100% 90% 80% 70% 90% 60% 50% 40% 25% 25% HRP (Y) 30% 20% 10% 0% 0 25 LRP (X) 50 75 100 125 Revenue Block B-80 Government Share of 12% Revenue - LRP Government Share of 55% Revenue HRP Royalty 10% for crude oil, condensate and Natural Gas Cess 0 Kherem 21% 99% HOEC Bidding process based on the Revenue Sharing Model involves 2 parameters - Lower Revenue Point (LRP) and Higher Revenue Point (HRP). The revenue share for intermediate points will be calculated by linear interpolation. The bidder offering the highest net present value of the revenue share to the Government will score the maximum on this parameter. Z= X+[(Y-X)*(R-0.01)/0.99 X-% of Govt. share of revenue payable at LRP Y - % of Govt. share of revenue payable at HRP R-Average daily revenue in Million US Dollar Z-% of Govt. share of revenue when Avg. daily revenue > LRP and < HRP AA-ONHP-2017/19 Umatara 22% 48% 99% 99% 12.5% for crude oil and 12.5% for crude oil and 12.5% for crude oil and condensate; 10% for natural gas condensate; 10% for natural gas condensate; 10% for natural 0 0 gas 0 19#20PN 2-800999-20 898-2180 303024107- HOEC STRATEGIC OVERVIEW 20#21Focused Growth Strategy Cost-effective delivery of Development Projects Near Field Exploration to widen existing "Footprint" Opportunistic Portfolio Growth H❤EC Make Portfolio work to deliver value even in low price environment B-80 Development - Focus on 'First Oil' and 'First Gas' sales • Phase 2A and 2B of Dirok development - deliver production increase upto 55 mmscfd and infrastructure for delivering gas to Duliajan marketing hub Discover resources near existing infrastructure for faster monetisation Greater Dirok - Appraise North Dirok Potential within Dirok Block and explore in adjacent OALP block • PY-1 & Kharsang Appraise additional upside potential • Cambay - Explore R2 area of CB- ON-7 on execution of PSC Leverage "Opening Up" of Sector in India and current environment Focus on existing portfolio and grow by • Increase production by optimizing existing facilities and wells to increase cash flows • Improve value maximization by increasing realized price. DSF fields like B-80 enjoy marketing & pricing freedom for gas 21#22INDUSTRY OVERVIEW HOEC 22#23Industry Snapshot Domestic Natural Gas (MMSCM) HOEC Robust Demand • India is the third largest energy consumer and fourth largest consumer of gas with demand primarily met by imports • Increased domestic production of Oil & Gas thereby reducing imports helps reduce forex outflows Policy Support • Government has enacted various policies such as OALP, DSF and Production enhancement Gross natural gas production 59,170 55,697 Natural gas consumption LNG imports 63,932 60,798 contracts to encourage investment and private participation 32,875 31,180 31,897 32,649 33,680 24,849 27,439 28,740 • Various steps have been taken recently by DGH to improve ease of business Advantage INDIA Supportive FDI guideline • The government allows 100% FDI in Upstream and Private sector refining projects Fiscal Relief •Industry has asked for fiscal relief in the form of reduction in Royalty, Cess, Profit petroleum 2016-17 2017-18 2018-19 2019-20 Domestic Petroleum Products (MMT) ■Crude oil + Condensate production Petroleum imports Petroleum products consumption 206 213 214 195 179 182 170 159 36 35.7 34.2 2016-17 2017-18 2018-19 Source Petroleum Planning & Analysis cell (PPAC) 32.2 2019-20 23#24Milestones in the Oil and Gas Industry State Monopoly Acreages awarded to NOCs on Nomination Basis Liberalization of E&P Sector with 9 NELP rounds. 254 exploratory blocks through competitive bidding H❤EC Discovered Small Field Policy - Discovered Small Field Bid Round II - Policy permitting exploration & exploitation of unconventional hydrocarbons - Policy for incentivizing enhanced recovery 1948 1991 1997-2009 2014 2015 2016-2017 2018 2019 Beginning of de-regulation 28 producing fields and 28 exploratory blocks awarded including private players New Domestic Natural Gas Pricing Guidelines - Discovered Small Field bid round 2016 - HELP Nomination Era Pre-NELP PSCs NELP - Operationalization of NDR - OALP - Revenue Sharing Model - OALP Bid Round II and III - Reforms in Exploration Policy RSC (HELP and DSF) 24#2540 40 60 60 20 0 FY10 FY11 FY12 FY13 FY14 83.57 80 80 69.76 100 120 Source - Petroleum Planning & Analysis cell (PPAC) Impact of Covid on Oil and Gas Industry On the Global O&G Industry: Outlook on prices for the near term is uncertain due to COVID induced demand destruction and the supply glut that was previously existing in the industry. Capex investments being deferred by global oil companies On the Indian O&G Industry: Indian O&G upstream companies have requested for fiscal relief measures like cuts on Royalty, Cess and profit petroleum and have asked for pricing and marketing freedom for gas. Crude oil prices below $45/bbl are not economical for future development and exploration 111.89 107.97 105.52 84.16 FY15 FY16 FY17 FY18 FY19 FY20 69.88 60.47 3 56.43 46.17 47.56 4 2 1 0 6 5.05 5 4.66 Oct-14 Apr-15 Oct-15 Apr-16 Oct-16 Apr-17 Oct-17 Apr-18 Oct-18 Apr-19 3.82 3.69 3.36 3.23 3.06 3.06 2.89 2.5 2.48 Price Trends for Crude Oil and Natural Gas Average Crude Oil Price ($/barrel) HOEC Domestic Natural Gas Prices (US$/mmbtu) Oct-19 2.39 Apr-20 25#26STREMENT JAN FEB Business items FINANCIAL OVERVIEW 26 HOEC#27Standalone Statement of Profit or Loss Particulars INCOME Revenue from operations Other income Total revenue EXPENSES Expenses from producing oil and gas blocks Royalty,Cess and NCCD For the Quarter H EC For the year (Crores) Qtr4 19-20 Qtr3-19-20 FY 19-20 FY 18-19 28.45 45.18 179.84 6.99 5.68 21.58 35.44 50.86 201.42 236.89 10.06 246.95 6.26 6.46 26.00 28.23 3.27 5.17 20.64 19.69 Decrease (Increase) in stock of crude oil and condensate (0.67) (0.24) (0.12) 3.92 Employee benefits expense 0.90 0.31 5.18 3.96 Finance costs - unwinding of discount on decommissioning liability 1.30 1.30 5.18 1.40 Depreciation, depletion and amortization 3.93 6.29 23.92 35.06 Other expenses 1.62 1.18 6.00 7.11 Total expenses 16.61 20.47 86.80 99.37 Profit before tax and exceptional Items Exceptional Items - Income Profit before tax Net tax expenses Net profit for the period 18.83 30.39 114.62 147.58 22.11 26.21 2.31 18.83 52.50 140.83 149.89 0.93 18.83 52.50 140.83 148.96 Other comprehensive income 0.28 (0.04) 0.16 (0.16) Total comprehensive income 19.11 52.46 140.99 148.80 Earnings per equity share of 10 each-Basic 1.43 3.97 10.71 11.42 -Diluted 1.43 3.97 10.71 11.32 Hindustan Oil Exploration Company Limited 27#28Standalone Statement of Assets & Liabilities H EC As at crores ASSETS Non-current assets March 31, 2020 March 31, 2019 Property, Plant and Equipment (i) Oil and gas assets (ii) Others Equity share capital 305.04 325.52 Other equity 2.86 2.81 Total equity EQUITY AND LIABILITIES As at March31, 2020 crores March 31, 2019 Shareholders' funds 132.26 130.51 532.82 391.83 665.08 522.34 Capital work-in-progress 139.24 2.13 Investment property 4.15 4.36 Non-current liabilities Intangible assets 9.82 10.27 Financial liabilities Financial Assets (i) Trade payables 22.11 (i) Investments in subsidiary 59.46 59.46 (ii) Other financial liabilities 0.31 0.31 (ii) Site restoration deposit 62.41 58.98 Provisions 103.42 98.28 Other non-current assets 1.46 0.08 Other non-current liabilities 0.10 Total non-current assets 584.44 463.61 Total non-current liabilities 103.73 120.80 Current assets Inventories 22.02 Financial assets 22.71 Current liabilities Financial liabilities (i) Investments 91.89 111.29 (i) Trade payables 12.69 10.76 (ii) Trade receivables 35.21 39.09 (ii) Other financial liabilities 117.39 27.76 (iii) Cash and bank balances 48.71 17.40 Provisions 0.14 0.10 (iv) Other bank balances 15.25 7.79 Other current liabilities 2.26 2.71 (v) Loan to subsidiary 65.96 12.11 (vi) Other financial assets 4.19 155.22 Income tax assets 4.35 Other current assets 29.27 4.51 0.74 Total current liabilities 132.48 41.33 Total current assets 316.85 220.86 TOTAL 901.29 Hindustan Oil Exploration Company Limited 684.47 28 TOTAL 901.29 684.47#29Consolidated Statement of Profit or Loss Particulars INCOME Revenue from operations Other income Total revenue EXPENSES For the Quarter Qtr4-19-20 H EC For the year (Crores) Qtr3-19-20 FY 19-20 202.05 FY 18-19 265.14 -- 33.50 49.50 6.97 5.66 21.76 40.47 55.16 223.81 11.19 276.33 Expenses from producing oil and gas blocks 9.11 8.98 35.34 37.21 Royalty, Cess and NCCD 3.56 5.43 21.82 20.84 Decrease (Increase) in stock of crude oil and condensate 0.70 (1.43) 0.43 4.18 Employee benefits expense 0.93 0.35 5.56 5.32 Finance cost-unwinding of discount on decommissioning liability - Others 1.32 1.34 5.36 1.57 1.02 (0.22) 1.04 0.10 Depreciation, depletion and amortization 5.24 7.65 29.38 43.80 Other expenses 8.23 1.98 14.31 10.48 Other comprehensive income Total expenses Profit before tax and exceptional Items Share of profit from associate Exceptional Items - Income Profit before tax Net tax expenses Net profit for the perio Total comprehensive income Earnings per equity share of 10 each-Basic 30.11 24.08 113.24 123.50 10.36 31.08 110.57 152.83 (0.35) 0.42 0.52 1.42 22.11 26.21 2.62 10.01 53.61 137.30 156.87 (1.57) 0.27 (0.26) 0.13 11.58 53.34 137.56 156.74 0.28 (0.04) 0.16 (0.16) 11.86 53.30 137.72 156.58 0.88 4.03 10.46 12.01 -Diluted 0.88 4.03 10.46 11.91 Hindustan Oil Exploration Company Limited 29#30Consolidated Statement of Assets & Liabilities H EC As at crores ASSETS Non-current assets March 31, 2020 March 31, 2019 EQUITY AND LIABILITIES Shareholders' funds Property, Plant and Equipment (i) Oil and gas assets (ii) Others Equity share capital 331.78 355.71 Other equity 11.57 13.52 Total equity As at March 31, 2020 crores March 31, 2019 132.26 130.51 547.45 409.73 679.71 540.24 Capital work-in-progress 327.37 26.18 Non-current liabilities Investment property 4.15 4.36 Financial liabilities Intangible assets 9.82 10.27 (i) Long term borrowings 31.97 0.18 Financial Assets (ii) Trade payables 22.11 (i) Investments in associate 17.73 17.22 (iii) Other financial liabilities 0.31 0.31 (ii) Site restoration deposit 65.18 61.60 Provisions 106.77 101.46 (iii) Other financial assets 0.07 0.06 Other non-current liabilities 0.10 Other non current assets Total non-current assets Current assets Inventories Financial assets (i) 1.46 0.08 Deferred tax liability 3.02 3.95 769.13 489.00 Total non-current liabilities 142.07 128.11 26.59 27.83 Current liabilities Financial liabilities Investments 100.48 119.74 (i) Short term borrowings 12.82 11.76 (ii) Trade receivables 36.36 40.93 (ii) Trade payables 65.89 16.28 (iii) Cash and bank balances 70.60 27.64 (iv) Other financial liabilities 117.58 27.95 (iv) Other bank balances 15.24 7.79 Provisions 13.47 6.81 (V) Other financial assets 3.47 10.55 Other current liabilities 4.30 3.00 Income tax assets 9.88 9.68 Total current liabilities 214.06 65.80 Other current assets 4.09 0.99 Total current assets 266.71 TOTAL 1,035.84 245.15 734.15 TOTAL 1,035.84 734.15 Hindustan Oil Exploration Company Limited 30#31Capital Market Data 20% 0% -20% -40% -60% -80% LCI Estates LLP Fil Investments (Mauritius) Ltd Kotak Small Cap Fund Fidelity funds - India Focus Fund Apr-19 May-19 Institutional Holding HDFC Ltd Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 H❤EC ⚫HOEC S&P Oil and Gas Index Price Data (31st March, 2020) CMP (INR) 34.25 52 Week H/L (INR) 135.75/30.55 Avg. Net Turnover (INR Mn) 3.20 Market Cap (INR Mn) 4,562 Equity Shares Outstanding (Mn) 132.24 Shareholding Pattern (31st March, 2020) FII 湯 8% DII 3% 10.65% 6.13% 3.27% 2.69% Public 89% 1.29% 31#32Disclaimer HOEC No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. Certain statements made in this presentation may not be based on historical information or facts and may be "forward looking statements" based on the currently held beliefs and assumptions of the management Hindustan Oil Exploration Company Limited ("Company" or "HOEC") which are expressed in good faith and in their opinion reasonable, including those relating to the Company's general business plans and strategy, its future financial condition and growth prospects and future developments in its industry and its competitive and regulatory environment. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance or achievements of the Company or industry results to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements, including future changes or developments in the Company's business, its competitive environment and political, economic, legal and social conditions. Further, past performance is not necessarily indicative of future results. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements to reflect future events or developments. This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of it should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration there from. This presentation is confidential and may not be copied or disseminated, in whole or in part, and in any manner. Valorem Advisors Disclaimer: Valorem Advisors is an Independent Investor Relations Management Service company. This Presentation has been prepared by Valorem Advisors based on information and data which the Company considers reliable, but Valorem Advisors and the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Valorem Advisors also hereby certifies that the directors or employees of Valorem Advisors do not own any stock in personal or company capacity of the Company under review. XX VALOREM ADVISORS For further information please contact our Investor Relations Representatives: Mr. Anuj Sonpal Valorem Advisors Tel: +91-22-4903-9500 Email: [email protected] 32#33TER TER VIUN Quir THANK YOU HOEC 33