#1इंडियन ऑयल IndianOil Indian Oil Corporation Limited 31st May 2019#2Indian Oil Corporation: The Future of India Energy Strong Support from the Government of India Maharatna Company; Gol Control: 52.18% • Government nominated Directors on IOC Board • Contribution to exchequer of INR 1934 bn in FY19 11 refineries with 80.70 MMTPA Capacity Largest Refiner in the Country Pan-India Pipeline Infrastructure (इंडियन ऑयल) Leading Market Share Across Portfolio • 32% of Domestic Refining Capacity 14,000+ km pipelines for crude oil and products with a total capacity of 94.2 MMTPA • 51% share in crude and product pipeline (by length) 43.9% petroleum market share in FY19 with over 50,984 touch points Integrated Operations Across the entire Energy Value Chain 2nd largest domestic player in Petrochemicals E&P: 10 domestic and 12 overseas blocks Strong Focus on Innovation Through R&D and Alternate Energy Sources 1000 active patents as on 30.04.2019 • New focus on Alternate and Renewable Energy (Wind, Solar, Biofuels, Nuclear) Driven by a Management Team That has Delivered Results Consistent growth FY11-FY19 Revenue CAGR: 9.02% सत्यमेव जयते Indenc#3Our Journey at a Glance From a humble beginning to an Oil Giant FY19 700000 120000.00 605924 600000 Turnover 100000.00 Net Worth 500000 (Rs./cr) 80000.00 (INR/Cr) 400000 60000.00 300000 200000 77.82 40000.00 20000.00 100000 0 31-Mar-19 30000 31-Mar-19 27702 108658 25000 Retail Outlets 20000 15000 10000 4482 5000 0.00 0 1965 1975 1985 1995 2005 2015 1965 1975 1985 1995 2005 2015 1980 1990 2000 2010 2019 Net Worth MMT 11.6x- Refining Capacity Kms ('000) 81 7.1x Pipeline Network Turnover US$ in Billion 14 87.6 CAGR: 15% 36 24 12 7 7 5 4 2 13.6 0.1 0.6 2.5 1970 1980 1990 2000 2019 1970 1980 1990 2000 2019 1970 1980 1990 2000 2019 "MAHARATNA" Status "Maharatna" status Contribution to Exchequer: US$ 28 Bn (FY19) Note: IOC is ranked 12th as per Platt Global Energy Company Rankings 2018. IOC is ranked 137 amongst Fortune Global 500 Companies in 2018. FORTUNE 500 Fortune Global 500 Ranking: 137 (2018) MOODY'S platts Platts Energy Ranking: 12 (2018) Fitch Ratings Moody's: Baa2 Fitch: BBB-#4Well Poised to Leverage Strong Industry Dynamics India is Among the World's Fastest Growing Economies Low per Capita Oil Consumption Represents an Underpenetrated Opportunity... Consumption in million barrel per day GDP Growth 2017 2018 2019 P 2020 P 19.96 India 7.17% 7.05% 7.26% 7.49% China 6.76% 6.57% 6.27% 6.12% ASEAN-5 5.36% 5.24% 5.14% 5.16% Brazil 1.06% 1.11% 2.06% 2.53% US Russia 1.65% 2.33% 1.62% 1.71% Source: IMF World Economic Outlook, April 2018 (GDP at constant Prices) MMT Oil Consumption Trends Have Been Rising Marginally... 12.89 12.47 EU China 3.89 4.52 Japan India Source: CIA World Fact book (2015 Est, 2016 Est. & 2017 Est.).-as per website on 15 May 2019 ...With Strong Growth in Consumption Across Key Products CAGR 5.96% 206 212 195 185 166 6.30% 158 Diesel (HSD) FY18 - FY22 E CAGR 8.23% FY 14 FY 15 FY16 FY17 FY18 FY19(P) Source: Petroleum Planning and Analysis Cell, Ministry of Petroleum and Natural Gas, Govt. of India. Note: HSD: High Speed Diesel and MS: Motor Spirit Source: Petroleum Planning and Analysis Cell Petrol (MS)#5IOC - The Largest Refiner in India Strategic Presence With Access to High Demand Markets Panipat Mathura Chennai Narimanam Bongaigaon Barauni Guwahati Haldia Paradip Digboi Strategically placed with access to high demand market of North India Note: Figures as of March 31, 2019 Importing Crude from Across the Globe North America 5% Middle East 65% Central Asia 2% Africa 25% Total crude oil import: 69 MMT (including 8.3 MMT for CPCL) Figures for FYE 2019 Capacity(69.2 MMT) Subsidiary Cos. (11.5 MMT) Leader in Refining Market Share(1) 32% 27% 15% 11% 8% 6% IOCL Reliance HPCL Note: Figures as of March 31, 2019. (1) Market share based on group Refining Capacity BPCL Nayara Energy ONGC Source: PPAC website Refinery Throughput (MMT) Capacity Utilization* (%) 72 104 69 100 94 65 FY 17 FY 18 FY 19 FY 17 FY 18 FY 19 2015-16 76.6 Energy Efficiency (MBN) 2016-17 2017-18 2018-19 71.3 72.6 74.9 Changing Crude Mix for Enhanced Profitability Type of Crude Oil Used Low Sulphur 45% ✓ Supply of BS VI grade fuels commenced in NCT and 12 contiguous districts. ✓ BS VI Projects on track Pan-India roll out by - South East Asia 4% High Sulphur 55% 01.Apr.2020. FY 18-19 Note: All figures for the year ended March 31 of the respective years.#6step JH-4YDE 0915 Preparedness for MARPOL BS VI Projects on track - Pan- India roll out by 1.4.2020 Championing Clean fuels Improving refinery efficiency and processes 2nd Generation Ethanol Project at Panipat (3618)677H IndianOil Fuel@Doorstep Refinery off gas harvesting project for hydrocarbon production Painted Storks nesting at Mathura Refinery Indian Oil Aviation Servic Waste to energy plant at Varanasi#7Unparalleled Network of Cross Country Pipelines Largest Pipeline Market Share - Downstream Others 27% IOC, 73% Others 48% IOC 52% Others 41% IOC 59% Crude Oil Pipelines Product Pipelines Source: PPAC Website MMT Total Pipelines Note: Figures as of March 31, 2019 Pipelines Throughput 83 1861 LO_I 189 % In INR 31 35 37 5,490 51 51 FY 17 FY 18 Crude Product 51 FY 19 ☐ Indicate Total Throughput 94 i 69 119 High Capacity Utilization FY 17 ■Crude 94 i 76 81 105 FY 18 Product 106 FY 19 ☐ Indicate Total Capacity Utilization Steady Revenue Stream with healthy EBITDA 6,439 6,332 6,128 5,998 FY'15 FY'16 FY'17 FY'18 FY'19 ■EBITDA All annual figures for the year ended March 31 of the respective years.#894.2 MMTPA Liquid Pipelines Capacity Network Expansion 21.69 MMSCMD Gas Pipelines Pipeline Length (km) 13,391 12,848 14,231 2016-17 2017-18 2018-19 Length Capacity (KM) Crude Oil Pipelines 5,301 48.60 MMTPA Product Pipelines 8,769 45.60 MMTPA Gas Pipelines Total 161 21.69 MMSCMD 14,231 840 Kms added in the Network ✰ Projects/Replacements Completed - Paradip-Haldia-Durgapur LPG Pipeline - Jaipur-Panipat Naptha Pipeline 42"Crude Pipeline to CPCL Kolkata ATF Pipeline Panipat-Kohand LPG Pipeline Last section of BKPL rerouting for Dedicated Freight Corridor Foundation Stone laid for Kandla- Gorakhpur LPG Pipeline#9Marketing: Reach in Every Part of the Country Pan India Presence with Multiple Consumer Touch Points Others 332(1) SKO / LDO Dealerships 3,889 Over 50,984 Customer touch-points Retail Outlets 27,702 All figures for the year ended March 31, 2019 Other Key Highlights Leader in Market Infrastructure LPG Distributor 11,964 50% 53% 57% Bulk Consumer Pumps 6,960 Rural Thrust and Penetration ✓ 7,857 Kisan Sevak Kendras (KSK) LPG 50% 47% 43% Retail Outlets LPG Distributorships Indian Oil Others 83.5 4.8 Aviation Fuel Stations Operating Highlights (Inland / Export Mix) 88.8 7.3 Sales (MMT) 89.9 5.2 2.5 Mn cylinders rolled out per day 78.6 81.5 84.7 Petroleum Product Market Share 43.9% share in petroleum products Note: (1) Others includes Aviation Fuel Stations, Terminals, Depots and LPG Bottling Plants. FY 17 FY 18 FY 19 ■Inland ■Export#10Ensuring Availability and inclusive growth (इंडियन ऑयल IndianOil Footfall of 15 Million per day at ROS Rural Reach through 7857 Refuelling - 1,750 flights per day KSKS Domestic Advanced Winter stocking - forward NETT WT 5.0kg Indane 5 Kg Defence locations LPG for All STRIC cenarahat उज्ज्वला ROUGH Indane Indane Indane इण्डेन 47.5 KG 425 Kg 14.2 Kg 19 Kg 2.5 Million Cylinders rolled out per day स्वस्थ और सुरक्षित रसोई का आनंद उठाइये अपने बजट में NET WEIGHT 5019 Indane#11Domestic POL Sales (MMT) 74.1 Fuelling India's Growth 80.0 77.1 11.6 10.8 3.7% 10.1 4.1% LPG 11.6 10.9 10.1 Naphtha 4.8 MS 4.5 3.9 3.6 2.6 2.3 ATF SKO 36.5 37.1 35.4 HSD FO/LSHS Bitumen Lubes Others 3.3 3.2 3.2 2016-17 2017-18 2018-19 Sale of LPG crossed 1 MMT per month for the first time in December 2018.#12E&P Domestic Overseas Operatorship Moving Beyond the Traditional Value Chain Gas Sourcing Marketing LNG Terminals CGD Indios C Moving Beyond the Value Chain Petrochemicals • LAB • PX / PTA • Polymers, Glycols • Butadiene, SBR RE&SD Wind, Solar Biofuels Sustainability Nuclear JV with NPCIL 01 Globalization Exports Consultancy Training Downstream Marketing Rear Hubbet#13One of the Leading Producer of Petrochemical Products Capacity Sales Breakup (in INR/Cr) Total: 18531 Total: 21659 1823 1633 14949 14245 13681 Project Capacity (MT) Total: 20222 Guajarat LAB 120,000 Styrene Butadiene 1730 120 KTA Rubber Plant Panipat Px / PTA 553,000 Panipat Naphtha 1,460,000 Cracker Polypropylene Plant 680,000 -Paradip Refinery 2835 1412 FY 17 ■LAB 3,420 EBITDA (in INR/Cr) 6067 7590 6105 5164 FY 15 FY 16 FY17 FY18 FY19 1835 1382 3324 1562 FY 18 FY 19 ■Px/PTA ■Polymers/MEG/DEG/TEG Others#14Upstream Portfolio Blocks' Location Reserves & Production 5.00 300 Domestic 4.50 1 2 6 1 10 250 Blocks 4.00 3.50 3.00 2.50 200 4.44 150 Overseas Blocks 2 2 1 7 12 2.00 100 1.50 2.66 1.00 Exploration Discovery Appraisal Under Development Production 1.45 50 50 0.50 0.00 2016-17 2017-18 0 2018-19 2P/2C Reserves (MMToe) Production (MMToe) 67% Growth in Upstream Production#15Recent Acquisitions Location Abu Dhabi Location Oman Location Israel Block Onshore Block 1 Block Mukhaizna Block Block 32 IOC Stake 17% IOC Stake 25% IOC Stake 50% Status Producing Status Exploration Status Exploration ..and Umatara Cluster, Assam a domestic discovered field where IndianOil is lead operator with 90% participating interest#16Support to Start-ups Technology Process Re-engineering Bio-formulation Business Process Re-engineering Enhanced Fleet Management Electronic Leak Detection Emissions Reduction Enhancing RO Automation Fuel Cell based Research Automated TT Locking Deriving Fuel Substitutes Nano particles based Research Leveraging IT for Retail Nine patents jointly filed Eco-Toilets#17Diversified Across Geographies and Energy Sources Geographical Diversification IndianOil Mauritius retail business Ltd. (IOML) (100% Stake) Aviation, terminal & 27,335 MT Storage Terminal Lanka IOC Plc. Auto fuel, Bunkering, Lubricants and (75.12% Stake) Bitumen business 208 retail outlets IOC Middle East FZE · Marketing of Lubes (100% Stake) Figures for the year ended March 31,2019 Lanka 10C Gas Wind Power Diversification Across Sources 40 City Gas Distribution under IOCL's ambit (17-Standlone, 23-JVs) • 5 MMTPA LNG import, storage and re-gassification terminal commissioned at Ennore (Near Chennai) • Ennore-Bengaluru-Puducherry- Madurai-Tuticorin LNG PL • Wind - 167.60 installed capacity • 47 MW plant at Gujarat; • 48.3 MW plant at AP • 72.3 MW plant at Rajasthan Solar 14100+ Retail Outlets Solarised. Installed capacity 71 MW (Mar'19). Other Solar capacity is 45 MW#18R&D Prowess Technology Commercialisation 35 TMTPA INDAdept Plant at Guwahati Refinery Indigenous In-Line Pipeline Inspection Tool Indigenously Developed Delayed Coker at Barauni 2nd R&D Campus - Upscaling Thrust Areas Refining Technology CO₂ Research Pipeline Catalysts Research Lubes Technology Nanotech IndianOil R&D of Tomorrow Alternate Energy Research#19Focus on R&D Developing / Commercialising Indigenous Innovative Technologies IndeDiesel at Gujarat Refinery for BS VI compliance Leveraging Start- ups 1000 effective patents as of 30.04.2019 Indane Nanocut Sale 1247 MT (18-19) 35% increase over last FY Nano-additized batteries Nano-additized LPG Indian Oil Innovative Additive (INNOVA) for OEM approvals for lubes World's 1st CO2 to Lipid pilot plant 5 TPD Bio- methanation Plant FIPI innovation / CHT Award for Octamax New Campus in Offing 3G Ethanol from Refinery Off Gas#20Major Projects Completed (18-19) Polypropylene Plant at Paradip Refinery Rs 3,150 Cr #Feb 2019 Distillates Yield Improvement Project (COKER) at Haldia Refinery Rs 4,190 Cr # Jun'18 Paradip-Haldia-Durgapur LPG Pipeline Rs 1,330 Cr #Dec'18 Jaipur-Panipat- Naptha Pipeline Rs 611 Cr #Jan 2019 Grass Root POL TOP at Una, HP Rs 356 Cr #Mar'19 Ennore LNG Import Terminal Rs 5,150 Cr #Mar'19 (इंडियन ऑयल IndianOil#21Investing In Future Growth Major Ongoing Projects Planned Capital Expenditure Outlay (1) (2019-20) Estimated Cost Project (Rs Crore) (INR/Cr.) Ethylene Glycol Project (MEG) - Paradip 5,654 Others, 6% Petchem, 7%. 16,338 (इंडियन ऑयल IndianOil BS-VI Projects Refining, 33% INDMAX unit at Bongaigaon 2,582 Paradip-Hyderabad Pipeline 3,338 Ennore-Bengaluru-Puducherry-Madurai- 6,025 Tuticorin R-LNG Pipeline Koyali - Ahmednagar - Solapur Pipeline 1,945 Marketing, 29% Augmentation of Paradip-Haldia- Durgapur LPG Pipeline and its extension up to Patna and Muzaffarpur 3,042 Pipelines, 26% 30" Crude Oil Pipeline in H-B section of PHBPL & Conversion of 18" twin Pipelines in H-B section from Crude to Product and Gas service 3,696 Capex planned for Major Projects 2019-20, approx INR 22, 100 Cr (1) Additional Rs. 3000 Cr planned for small projects.#22Moving Forward.... 60 MMTPA West coast refinery Commercialization of R&D Consolidating Core Business Increasing pipeline and import capacity; widening product mix Brownfield expansions - 28 MMTPA plus by 2030 Enhanced customer connect thru digital initiatives Cost leadership thru business process transformation + Expanding footprints in attractive overseas geographies Building Natural gas import and transportation capacity Accelerating Extended Business Petrochemical Capacity addition with expanding product portfolio Getting Future Ready Bio-Fuel forays Waste-to-Energy 2G/3G Ethanol Bio CNG Scaling up Renewable Energy Projects Digital Transformation Initiatives (इंडियन ऑयल IndianOil Raising Upstream Integration Ratio from (5.4% -12% + by 29-30) Alternative Energy Research, Hydrogen, Fuel Cells and 3rd Generation Biofuels ... to continue to be India's flagship company#23Our Differentiators: Strong Financials Turnover (in INR/Cr) EBITDA (%) Others 6% 6,05,924 5,06,428 4,50,756 4,06,828 4,45,373 Petchem 14% FY 15 FY 16 FY 17 FY 18 FY 19 30% 5,273 Net Profit (in INR/Cr) and Dividends (%) 33% 11,242 48% 52% 53% 21,346 19,106 16,894 Pipelines. 17% Refining 22% Contribution to FY19 EBITDA EBITDA (in INR/Cr) Marketing 41% 23,371 14,291 43,114 35,990 36,952 FY 15 FY 16 FY17 FY18 FY19 FY 15 FY 16 FY 17 FY 18 FY 19 Dividend Payout Ratio (% of PAT)#2467,970 Our Differentiators: Strong Financials Net Worth (in INR/Cr) 99,729 87,430 Cash breakdown & Debt (in INR/Trillion) 1,10,171 1,08,658 0.00 0.00 0.00 0.10 0.00 0.86 0.19 0.1 0.09 0.08 0.10 0.12 0.09 0.55 0.53 0.55 0.58 0.11 0.11 0.12 FY 15 FY 15 FY 16 FY17 FY18 FY19 0.8x Debt/Equity 0.6x 0.6x 0.5x 0.8x 0.25 FY 16 0.18 ■Market Value of Investments Amount Recoverable from Govt. ■Total Debt 0.25 FY 17 FY 18 0.25 0.23 Special Oil Bonds ■Cash Equivalents Debt Level (INR/Cr) 58,030 55,248 52,880 54,820 FY 19 86,359 FY 15 FY 16 FY17 FY18 FY19 FY 15 FY 16 FY17 FY18 FY19#25Conclusion India's Largest Oil Company 1 Largest Refiner in the Country 2 Pan-India Pipeline Infrastructure 3 Leading Market Share Across the Portfolio ..Focused on Creating Shareholder Value 4 Integrated Operations Across the entire Energy Value Chain 5 Strong Focus on Innovation Through R&D and Alternate Energy Sources 6 • Driven by a Management Team That has Delivered Results 7 With Strong Support from the Government of India