#1Hindustan Petroleum Corporation Limited Investor Presentation हिन्दुस्तान पेट्रोलियम HP March 16, 2023 Mumbai#2Plan of Presentation हिन्दुस्तान पेट्रोलियम HP Plan of Presentation Corporate Overview } ון 2 Business Overview Performance Overview Future Plans हिन्दुस्तान पेट्रोलियम HP#3Corporate Overview#4Integrated Refining & Marketing Company हिन्दुस्तान पेट्रोलियम HP Shareholding Profile as of Q3, 2022-23 ■ 8.02% 6.10% HP ■13.25% MAHARATNA ■ 2.08% ■ ONGC ■ FPI हिन्दुस्तान पेट्रोलियम HP ■ Mutual Funds ■ Non- Institutions ■Insurance Co. • Maharatna Company since 2019 ■ 15.65% ■ Others ■ 54.90% . Operating for 100+ years in India Strong presence in India in Oil & Gas Sector • Pan India presence • Strategically located installations 11.6% Refining Capacity in India • Enduring relationship with stakeholders Domestic Market share in 19.14% Petroleum Products#5Legacy of over 100 years STANDARD 1952 1911 Esso LUBE INDIA हिन्दुस्तान पेट्रोलियम HP हिन्दुस्तान पेट्रोलियम HP हिन्दुस्तान पेट्रोलियम HP हिन्दुस्तान पेट्रोलियम HP HP MAHARATNA 2019 2018 HP 1997 1978 1974 Gol transfers its 51.11% Maharatna status to HPCL CALTEX 1955 1962 1969 O ... Stanvac's name changed to ESSO Formation of HPCL by Commissioning Amalgamating of 165 TMTPA ESSO and Lube refinery Lube India at Mumbai by Lube India Ltd Incorporation Incorporat ion of Caltex Oil Standard Refining of Standard Marketing operations Vacuum Refining Company of Co. India Ltd Refining in India by Company of Oil Standard Company India (Stanvac) Ltd. Ltd 5 сл Merger of Caltex Navratna Status to HPCL undertaking in India into HPCL equity share to ONGC HP MAHARATNA#6Core Strengths Strategically Located Assets World Class Assets • Refineries in East, West, South and North of Country . Refineries connected with cross country pipeline • . • Over 80% product evacuation from refineries through cross country pipelines Distribution facilities across country Superior Project Execution Capabilities Excellent project implementation capabilities in all verticals Ability to work with all stakeholders in project execution Mumbai Refinery Visakh Refinery Strong Collaboration Capabilities Guru Gobind Singh Refinery (JV) Setting up first refinery in India in PPP Model First LPG cavern in country in PPP Model First refinery in Country with State government participation Strong Operational Efficiencies Leveraging Contemporary technologies Strong in-house R&D support Consistent Operating Profits LPG Cavern by SALPG(JV) Mundra Delhi Pipeline 6 | हिन्दुस्तान पेट्रोलियम HP#7Global Recognitions Global Ratings At par with India's sovereign rating MOODY'S INVESTORS SERVICE Fitch Ratings FIPI Federation of Indian Petroleum Industry AWARDS 2021 FIPI Baa3 (Stable) BBB- (Stable) 7 Oil Marketing Company of the Year (With more than 5000 retail outlets) Awarded to Hindustan Petroleum Corp. Ltd. हिन्दुस्तान पेट्रोलियम HP Recipient of FIPI 'Oil Marketing Company of the year' 2021 Recognizing leaders, innovators and pioneers in Oil & Gas Industry in India | हिन्दुस्तान पेट्रोलियम HP#8Business Overview 333KKKKK#9Diversified Portfolio Refining 17.8 MMTPA (HPCL Capacity) 11.3 MMTPA (JV Capacity) E& P Along with JVs/ subsidiary Marketing* 37.4 MMT (Domestic) Pipelines 4,435 Kms JVS & Subsidiaries 19 Numbers Renewables Wind & Solar 175 MW हिन्दुस्तान पेट्रोलियम HP 9 Exports* 1.7 MMT हिन्दुस्तान पेट्रोलियम HP R & D 47 Products & Technologies Note: All figures are as of 31st Dec 2022, except figures with (*) mark are as of 31st March 2022#10Strategically located Refineries Guru Gobind Refinery (JVC) Mumbai Refinery B Mangalore Refinery (JVC) Visakh Refinery Stake in HMEL: 48.99% Stake in MRPL: 16.96% 0 10 10 Refining Capacity in MMTPA Mumbai Visakhapatnam Total HPCL HMEL (JVC) Total (Marketing Rights) | हिन्दुस्तान पेट्रोलियम 9.5 8.3 17.8 11.3 29.1 Lube Refinery (Mumbai) 428 TMTPA Coastal Refineries Pipeline connectivity to hinterlands Product evacuation majorly through Pipelines Ultra Modern Refinery HP#11Key Features of Refineries Mumbai Refinery Commissioned in 1954 with crude processing capacity of 1.25 MMTPA, currently augmented to 9.5 MMTPA capacity • Upgraded to produce BS -VI fuel grade • Diverse product portfolio . • Largest Lube Refinery at Mumbai - 40% of India's total Lube production 80% of product evacuated through Mumbai-Pune-Solapur P/L Visakh Refinery Commissioned in 1957 with crude processing capacity of 0.65 MMTPA, currently augmented to 8.3 MMTPA. Project for enhancement of capacity to 15 MMTPA in progress Upgraded to produce BS -VI fuel grade Multiple Crude receipt facilities: Single Point Mooring facility (SPM) and ISPRL cavern 60% of product evacuated through - Visakh - Vijayawada- Secunderabad P/L 11 Mumbai Refinery Visakh Refinery | हिन्दुस्तान पेट्रोलियम HP#12Pan India Network Distribution Network | हिन्दुस्तान पेट्रोलियम HP Cross country POL pipeline 12 Terminals POL Depots LPG Plants Aviation Service Facilities Lube blending Plant 43 70 53 52 6 Customer Touch Points |||| Retail Outlets LPG Distributors CFA Door to Door Delivery Vehicles 20,791 6,265 123 12 727 CNG CNG Dispensing Stations EV Charging Facilities 1,288 1,198 As of 31.12.2022#13Pipeline Network of HPCL LPG Pipeline Liquid POL Pipeline Barwala-Hisar 12 12 हिन्दुस्तान पेट्रोलियम HP Bathinda Ramanmandi 11 Bahadurgargh- Trikikalan P/L Total Cross country Pipeline Network : 4,435 kms Bathinda Refinery 10 Ramanmandi Bahadurgarh P/L Bahadurgarh Delhi 1 Awa - Salawas P/L Ajmer 6 2 - Mundra Delhi P/L Palanpur Kanpur Rewari - Kanpur P/L 8 Mundra 3 Palanpur- Vadodara P/L Mumbai Refinery Vadodara Cherlapally Chakan Solapur ne Secun'bad 4 Mumbai - Pune - Solapur P/L Uran Hazarwadi Hassan-Cherlapally P/L 13 Visakh Refinery Pipeline by JV companies 1,380 KM Anantpur Vijayawada 5 Uran-Chakan LPG P/L Hassan Vizag - Vijaywada - Secunderabad P/L 7 MANGALORE B'lore 6 Mangalore- Hassan - Mysore LPG P/L 1017 KM: HPCL Mittal Crude P/I 363 KM: PMHBL Second largest Petroleum product pipeline Company in India 13#14Focus on Research and Development R&D Achievements New Technologies / Products demonstrated Patents Applied Total Patents granted 47 416 154 R&D Technology and Product Technology / Products: Under areas of Fuel Additives, Catalysts, Bio products, Process chemicals, Hygiene Products, Specialty Products • . R&D Thrust Areas Indigenisation of Refinery Technologies, Catalysts & Chemicals Process intensification . Bio Fuels Petrochemicals & Polymers 14 | हिन्दुस्तान पेट्रोलियम HP#15Digitally Enabled Operations Customer Touch Points HP GAS VITRAN PDMS Maximo Online Inventory Monitoring Refineries DCS Field Inputs Process History Data Base Transportation Electro mechanical locking system Pipelines Pipeline Intrusion Detection System (PIDS) Pipeline Security Reliability & Maintenance Inventory Management Batch Scheduling by Software Pipeline Integrity Management Software (PIMS) Central Data Centre at Hyderabad 450 locations connected e-enabled business processes 24x7 Operation centre Vehicle Tracking System 15 LPG Plants Vision readers Electronic Carousel Online Leak Detectors (OLD/ELD) Online Indent Management System Supply locations Centralized Online Logistics Tool Smart Terminal Terminal Automation Systems हिन्दुस्तान पेट्रोलियम HP#16Emphasis on Talent Management Induction Structured Induction process to Learn, Grow and Lead SAMAVESH Recognition Rewarding Values for driving Performance CON The People Manager Award GAURAV PERFORMANCE AWARD FOR NON-MANAGEMENT EMPLOYEES 16 Capability Building Behavioural / Functional and Technical training सिद्धिमूलं प्रबन्धनम् भा. प्र. सं. इन्दौर IIM INDORE ज्ञानम् अनन्तम् IIM TRICHY HP ACADEMY PAINS THE WAY FOR DIGITAL LEARNING Leadership Building Strong Leadership Pipeline HP POSSIBLE PROJECT per scope हिन्दुस्तान पेट्रोलियम HP#17Joint Ventures and Subsidiaries Oil refining Oil supply infrastructure and marketing MAFFFL HMEL SA LPG Mumbai Aviation Fuel Farm Facility Pvt Ltd HRRL TM HINCOL OnGc HINDUSTAN COLAS LTD. एमआरपीएल MRPL RRPCL REDEFINING REFINING Petronet MHB Limited IHB Joint venture in Natural gas infrastructure & marketing GrGITL GSPL INDIA TRANSCO LIMITED A MAVAATIKA GAS LIMITED Gia GSPL India Gasnet Limited अवंतिका गैस लिमिटेड AAVANTIKA GAS LIMITED A Joint Venture Company of GAIL & HPCL BGL GGPL GODAVARI GAS PRIVATE LIMITED HPOIL GAS Bhagyanagar Gas Ltd. A JOINT VENTURE OF INDIANOIL, HINDUSTAN PETROLEUM & BHARAT PETROLEUM Subsidiaries Biofuels Natural Gas Upstream Overseas Marketing HPCL HBL BIOFUELS LTD HPLNG Prize PETROLEUM HP Middle East | हिन्दुस्तान पेट्रोलियम HP Introduction of new technology and growth through Partnerships 17 GITL-GSPL INDIA TRANSCO LIMITED GIGL GSPL INDIA GASNET LIMITED HMEF-HPCL Middle East FZCC#18CSR Touching Lives Every Way सर्व शिक्षा अभियान सब पढे सब घंटे Environment & Community Development Child Care Sports Skill Development Education Health Care Touching 30 lakh lives since implementation of CSR Rules, 2014 18 हिन्दुस्तान पेट्रोलियम HP#19Performance Overview 333KKKKK#20Financial Highlights: FY 2021-22 Profit After Tax Rs. 6,383 Crore EBITDA Rs. 13,146 Crore Highest Turnover 3,72,642 Crore 20 Dividend Rs. 14/- per share हिन्दुस्तान पेट्रोलियम HP#21Quick Snapshot: April-December 2022 H✓ Highest Ever Revenue from Operations Rs. 3,51,748 Crore Highest Ever Market Sales of 32.34 MMT - Growth of 13.6% Highest Ever Refinery Thruput of 14.13 MMT 105% Refinery Capacity Utilization. Refinery Reported GRM US$ 11.40 / bbl Consolidated Net Loss Rs 10,589 Crore 21 हिन्दुस्तान पेट्रोलियम HP#22Quick Snapshot: Q3 2022-23 H✓ Revenue from Operations Rs. 1,16,127 Crore Highest Ever Market Sales of 11.25 MMT - Growth of 6.7% Highest Ever Refinery Thruput of 4.83 MMT 108% Refinery Capacity Utilization. Refinery Reported GRM US$ 9.14/bbl Consolidated Net Profit Rs 444 Crore 22 हिन्दुस्तान पेट्रोलियम HP#23Key Financials 5,156 2011-12 CAGR 9.8% 13,146 CAGR 13,123 11.4% 2021-22 March-12 EBITDA (Rs. Crore) 38,677 6.4 March-22 2011-12 Net worth (Rs. Crore) 23 CAGR 21.5% हिन्दुस्तान पेट्रोलियम 44.9 HP 2021-22 EPS (Rs./Share)* *Adjusted EPS.#24Return to Stakeholders Return to shareholders 2 Bonus share Issue Sep 2016 (2:1) 8 8 8 6 X X X July 2017 (1:2) 8 8 8 10,267 Market Cap (Rs. Crore)* March-12 2 shares in 2016 became 9 CAGR 14.0% | हिन्दुस्तान पेट्रोलियम 38,209 HPCL Share buy back Maximum buy back price Rs. 250 per share 47.99% increase from 28th Oct 20 March-22 *BSE at close of month. Consistent returns to stakeholders 24 186.75 171.80 254.25 28/10/20 04/11/20 14/05/21 HP . • HPCL share price on BSE Board approval - share buy back worth Rs. 2500 crore on 4th November 2020 Maximum Buyback Price at a premium of 45.52% and 45.43% over the closing prices on both BSE and NSE, respectively, on October 28, 2020.#25CAPEX- Investing for the Future ■Capex --Debt Equity Ratio 1.04 7,023 Mar 17 2017-18 12,661 16,085 14,630 2018-19 2019-20 2020-21 16,753 (Rs. Crore) 1.12 2021-22 Mar 22 Value Creation thru Effective Leveraging Capex Rs. Crore include Investments in JVCS/Associates/Subsidiaries etc. 25 हिन्दुस्तान पेट्रोलियम HP#26Future Plans#27Enhancement of Refining & Marketing Infrastructure Sectoral Overview - Oil Oil Demand by Scenario: India (Unit Million Barrels per Day) 4.7 Growth in all scenarios 6.7 5.9 HPCL -Capacity expansion to meet growing demand | हिन्दुस्तान पेट्रोलियम • • • 2021 2030 STEPS APS Source: World Energy Outlook 2022 STEPS: Stated Policies Scenario APS: Announced Pledges Scenario India will be the most populous nation by end of this decade Rising income along with increasing population will lead to higher energy demand Oil demand growth on back of estimated 5 fold increase in per capita car ownership • • • • . New 9 MMTPA Refinery and Petrochemical at Barmer in Rajasthan Enhancing capacity of Visakh refinery to 15 MMTPA New LPG plants to meet growing demand Expansion in retail outlet networks to cross 25,000 in 2025-26 Multiple fuel choices at retail outlets Service enhancement - Door-to-Door delivery at select customer premises Expanding the presence in overseas geographies 27 HP#28Pursue growth opportunities in Natural Gas Sectoral Overview - Natural Gas Natural Gas Demand by Scenario: India (Unit Billion Cubic Meters) 66 Growth in all scenarios 115 110 HPCL Participation in entire value chain • . • 2021 2030 STEPS APS Source: World Energy Outlook 2022 STEPS: Stated Policies Scenario APS: Announced Pledges Scenario Government has plans for Gas based Economy Government has set the target to increase the share of natural gas in primary energy mix from current levels to 15% in 2030 One Nation - One Grid - Natural Gas Grid is expanding GAS • 5 MMTPA LNG Import Terminal at Chhara Port in Gujarat • Participation in 3 Natural Gas Pipelines • . Expanding City Gas Distribution Network ⚫ PNGRB Authorisation in 23 Geographical Areas in 12 states • CNG Facilities at Retail outlets LNG retailing 28 | हिन्दुस्तान पेट्रोलियम HP#29Foraying into Petrochemicals Sectoral Overview -*Petchem Petchem Demand: India (Unit Million Metric Tonnes) 44 Growth in Petchem Demand 2021-22 69 2029-30 *Petrochemicals considered: Polymers (polyethylene/poly propylene/PVC), Aromatics (Benzene/Toluene/ Para xylene), Synthetic Fiber, Fiber intermediates, other intermediates, performance plastics, Surfactants, Elastomers. Source DGCIS/IHS • Per-capita consumption of plastics is one third of global average • Room for robust growth in Petrochemicals • Growth drivers- Packaging industry, e-commerce, Automobile industry etc. 29 29 HPCL Capacity Building & Marketing Plans | हिन्दुस्तान पेट्रोलियम HP • • • • 9 MMTPA Refinery and Petrochemical Capacity under construction 4.6 MMTPA Petrochemical capacity by 2024-25 along with JVCS With current expansions, HPCL ( Incl JV) will become second largest petchem production facility in country Marketing of Petrochemicals o Institutional capacity building o Pre-marketing plans#30Expanding footprints in Alternate Energy Sectoral Overview - Renewables Renewables Generation: India (Unit: TWh) 337 Growth in all scenarios 956 990 2021 STEPS 2030 APS Source: World Energy Outlook 2022 STEPS: Stated Policies Scenario APS: Announced Pledges Scenario • Power Generation moving away from coal • Renewable Energy sector is estimated to be the fastest growing energy sector till 2040 30 HPCL - Participation in Emerging Opportunities | हिन्दुस्तान पेट्रोलियम HP • . • Expanding footprints in Renewables Ethanol blending (E20) targeted to reach 20% by 2025 100 KLPD 2G Ethanol plant in Bathinda 14.2 TPD CBG plant at Buduan in UP Setting up of EV charging stations at 5000 retail outlets by 2025-26 Green Hydrogen Production in Refineries.#31Thrust on R&D, Innovation and Digital Technologies Own State-of-the Art R&D Centre Leveraging Innovation Pillars of Tomorrow Research, Innovation, Development IDEA JUNCTION Udgam HPCL Startup Initiative | हिन्दुस्तान पेट्रोलियम HP Leveraging Digital Technologies Fuel HP HP PAY LPG Lube НАМЕК КААМ DESHNAAM • Curating future technologies • 'Idea Junction' to capture Working towards developing 22 Laboratories . • Leveraging collaborations Innovative Ideas Udgam Leveraging startup - ecosystem in India • . • Leveraging Labs in new and • 30 focus areas related to • emerging technologies energy sector 22 startups supported • Digital strategy in place . Digital initiatives are under execution ERP modernization in progress Demand Forecasting Integrated Payment solutions • AR/VR based Training • Video Analytics 31#32HPCL Net Zero Plan: Development of Roadmap HPCL Net Zero plan Announcement on 31st Jan 2022 • HPCL is committed to conduct business with an objective of preserving the environment and contributing to sustainable development. HPCL is in the process of developing a validated roadmap with the help of a world-renowned consultant to achieve Net zero Scope1 & 2 emissions by 2040 32 | हिन्दुस्तान पेट्रोलियम HP#33हिन्दुस्तान पेट्रोलियम HP Continued ESG Focus Environment Social Environment Management Systems (EMS) by major Locations Emission monitoring Systems Ethanol blending at level of 10.49% (ESY)* Over 2GW of renewable energy in planning UN SUSTAINABLE DEVELOPMENT DIP GOALS Sustainability agenda aligned with UN SDG 3.81 crore LPG Cylinders under PMGKY Support to society during COVID times. PM Care fund - Rs. 120 Cr in 2020-21 & Rs. 40Cr. in 2021-22 Over 25% procurement from MSME vendors UN GLOBA COMPACT Signatory to UNGC Governance Clearly defined management performance and accountability Internal controls, systems and processes, risk management Full adherence and compliances of laws, rules and regulations Timely and balanced disclosures of all material information GRI GRI Based Sustainability report 33 *As on Dec, 2022#34Robust Capital Expenditure Plans (Rs. Crore) Capex 2022-23 23% 38% Business Segment 2022-23 Refinery with R&D 5,500 Marketing Infrastructure 4,300 4% Natural Gas 650 5% Bio Fuels & Renewables 650 30% Equity investments in 3,400 JVC/Subsidiaries Total 14,500 Refinery with R&D Marketing Infrastructure Gas Bio Fuels & Renewables Equity investments in JVC/Subsidiaries Estimated CAPEX Plan of Rs. 61,000 crore of next 5 years 34 हिन्दुस्तान पेट्रोलियम HP#35Major Ongoing Projects Refining ~1,00,000 Crore Pipelines • Visakh Refinery Capacity expansion to 15MMTPA ⚫ 9 MMTPA Integrated Refinery cum petrochemical project, Barmer ~1,000 Crore • Haldia Panagarh pipeline Project Bathinda Sangrur pipeline Project Natural Gas ~15,000 Crore Marketing ~3,000 Crore • 5 MMTPA LNG Terminal, Chhara Gujrat • CGD network in 10 GAs in 4 states (Haryana, Uttar Pradesh, Uttarakhand & West Bengal) across 22 districts • 80 TMT LPG Cavern at Mangalore • 2 LPG plants & Capacity Augmentations • 2G Ethanol Bio refinery and compressed Biogas Plant Augmentation of POL Locations / Depots • CBG Plant at Budaun, UP 35 | हिन्दुस्तान पेट्रोलियम HP#36| हिन्दुस्तान पेट्रोलियम Experienced Management Team Mr. Pushp Kumar Joshi, Chairman & Managing Director . HP He is a Doctorate in Human Resource Management, Post Graduate in Human Resource Management from XLRI, Jamshedpur and Bachelor of Law from Andhra University. Prior to this, he was Director, HR of the Corporation from August 01, 2012. In past, he also held key portfolios in HR functions viz. Executive Director, HRD and Head, HR of Marketing Division. During his tenure as Director HR, he was responsible for overseeing the design and deployment of key HR policies and strategies while leading Human Resources practices that are employee-oriented and aimed at building high performance culture. He also holds the directorship on the boards of Hindustan Colas Pvt Ltd (HINCOL), HPCL Rajasthan Refinery Limited (HRRL) and HPCL Mittal Energy Ltd. (HMEL) Mr. Rajneesh Narang, Director - Finance • He is a Member of the Institute of Chartered Accountants of India (ICAI) and a Post Graduate in Financial Management. He brings with him rich and varied professional exposure of more than 3 decades across various spectrum of Downstream Oil Company. He has headed the position of Marketing Finance which is considered as backbone of the company. He has also held various key challenging assignments in HPCL in the field of Corporate Finance, Treasury, Risk Management, Margin Management, Marketing Finance, Budgeting, SBU Commercial, C&MD's Office and Refinery Project. He holds directorships on the boards of South Asia LPG Company Pvt. Ltd. (SALPG), HPCL Mittal Pipelines Ltd. HPLNG, HINCOL, PPCL, HMEL and HRRL. Mr. S Bharathan, Director - Refineries • He is Director- Refineries of the Company effective October 01, 2022. Prior to this, he was an Executive Director Company with Additional Charge of R&D. - Refineries Coordination of the He has wide exposure to the Refinery operations of the Company and has worked in Operations and Technical Departments of Mumbai and Visakh Refinery for over 25 years. He has also worked in the Corporate Office on Margin Management & Refinery Project Process for over 4 years. Further, he is also leading HPCL's Green R&D Centre in Bengaluru for the last 3 years. Under him, HPCL Green Research & Development Centre (HPGRDC) has reached filing of about 380 patents. Mr. Amit Garg, Director - Marketing • • He is Director- Marketing of the Company effective December 27, 2022. Prior to this, he was an Executive Director-Aviation in Bharat Petroleum Corporation Limited (BPCL). He is a Post Graduate in Electronics & Management. He is a senior leader in Oil & Gas space having rich and varied experience of over 35 years across the entire value chain in the Industry including sourcing, storage, logistics and sales across various functions in BPCL. He also served as a full time Director with Indraprastha Gas Limited, the largest CGD in the country and as a Nominee Director with Maharashtra Natural Gas Limited, a Joint Venture of BPCL & GAIL (India) Limited. 36#37Disclaimer The information contained in this material have been obtained from sources believed to be reliable, but no representation or warranty express or implied, is made that such information is accurate or complete and it should not be relied upon as such. The information contained in this material may not be perfect and some part of the information may be left out. While the Company will use reasonable efforts to provide reliable information through this presentation, no representation or warranty (express or implied) of any nature is made nor is any responsibility or liability of any kind accepted by the Company or its directors or employees, with respect to the truthfulness, completeness, accuracy or reliability or otherwise whatsoever of any information, projection, representation or warranty (expressed or implied) or omissions in this presentation. Neither the Company nor anyone else accepts any liability whatsoever for any loss, howsoever, arising from use or reliance on this presentation or its contents or otherwise arising in connection therewith. This presentation may not be used, reproduced, copied, published, distributed, shared, transmitted or disseminated in any manner. This presentation is for information purposes only and does not constitute an offer, invitation, solicitation or advertisement in any jurisdiction with respect to the purchase or sale of any security of HPCL and no part or all of it shall form the basis of or be relied upon in connection with any contract, investment decision or commitment whatsoever. All estimates and opinions included in this material constitute our judgment as of the date of this material and is subject to change without notice and its accuracy is not guaranteed, it may be incomplete or condensed and it may not contain all material information concerning the Company. We do not have any obligation to, and do not intend to, update or otherwise revise any statements reflecting circumstances arising after the date of this presentation or to reflect the occurrence of underlying events, even if the underlying assumptions do not come to fruition. 37 हिन्दुस्तान पेट्रोलियम HP#38| हिन्दुस्तान पेट्रोलियम HP Thank you