#1H EC INVESTOR PRESENTATION 17 February 2020 TRANSFORMING THROUGH TALENT AND TECHNOLOGY COMPANY#2SAFE HARBOUR Investor presentation Q3 2019-20 This presentation and the accompanying slides (the “Presentation”), which have been prepared by HOEC (the "Company"), solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but 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. Certain matters discussed in this Presentation may contain statements regarding the Company's market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company's ability to successfully implement its strategy, the Company's future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company's market preferences and its exposure to market risks, as well as other risks. The Company's actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward- looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections. 01 HINDUSTAN OIL EXPLORATION COMPANY LIMITED H❤EC#3CONTENTS 1 Q3 FY 19-20 Performance Highlights 2 Focus Areas & Priorities 3 Business Outlook Investor presentation Q3 2019-20 02 | HINDUSTAN OIL EXPLORATION COMPANY LIMITED H❤EC#4Q3 FY19-20 PERFORMANCE HIGHLIGHTS Gross Production (BOEPD) Q3 FY20: 7983 HY 20 8853 Net Production (BOEPD) Q3 FY20: 3233 HY 20: 3578 Investor presentation Q3 2019-20 Drilling of first well completed safely and successfully; Conversion of Jack-up rig to MOPU for B80 on-track for sail out in March 2020; Floating Storage & Offloading (FSO) tanker sourced for deployment in B-80 • Dirok production curtailed due to local agitations & partial shutdown of major consumers like BVFCL Gross Production - PY-1 (BOEPD) Q3 FY20: 782 HY 20 : 850 Revenue from Operations (in Cr.) Gross Production -Dirok (BOEPD) Q3 FY20: 6427 HY 207184 Cash & Cash Equivalent (in Cr.) Q3 FY20 : 50 Q3 FY20: 176 • Limited gas offtake at PY-1 due to prolonged major consumer shutdown - MOU executed with a private consumer on fall back basis with premium pricing • Production Sharing Contracts (PSC) for PY-3, PY-1, Asjol extended upto 2030 Cambay Basin; Palej R2 PSC execution further delayed; HOEC is the highest bidder for four marginal onshore blocks of GSPC; Farm-in discussions with JV partner (holding First Right of Refusal) initiated • Kherem forest clearance approved; Petroleum Mining Lease (PML) awaited Kharsang PML executed by Government of Arunachal Pradesh • HOEC submitted bid for Digboi Field under Production Enhancement Contract (PEC) tender floated by Oil India 03 | HINDUSTAN OIL EXPLORATION COMPANY LIMITED 00 H❤EC#5FOCUS AREAS & PRIORITIES Focus Areas Investor presentation Q3 2019-20 Deliver Development Projects B-80 Development - Endeavor to deliver 'First Oil' by June 2020 subject to weather window; 'First Gas Sales" by Dec 2020 Phase - II development of Dirok to increase production by Q1 FY 21- 22 Exploit Additional Potential Appraise North Dirok Potential within Dirok Development Area (Assam) Appraise potential in deeper prospects within Kharsang Development Area (Arunachal Pradesh) Appraisal & Development of upside potential in PY-1 (Cauvery Offshore) Explore to Discover new Resources Ensure Portfolio Growth 04 | HINDUSTAN OIL EXPLORATION COMPANY LIMITED Explore in Greater Dirok block adjacent to Dirok Explore R-2 area of CB-ON-7 on execution of PSC Participate in OALP & DSF bid rounds Evaluate inorganic opportunities Seek to increase participating interest in operated blocks Strengthen Subsidiary Companies to leverage opportunities in Oil Field Services sector 00 H❤EC®#6B-80 DEVELOPMENT PLAN 1 FDP involves drilling of two wells and process by MOPU 2 Marketing and pricing freedom 3 Evacuating Oil through FSO & shuttle tankers; Gas through existing ONGC line to Hazira STOIIP-40 MMbbls; 4 GIIP 44 bcf ONGC's pipeline FSO CRUDE TANKER 5000 bopd & WELL 1 15 mmscfd in Phase - I 50% PI MOPU GAS LINE WELL 2 AHMEDABAD GUJARAT RAJKOT VADODARA HAZIRA PLANT SURAT Investor presentation Q3 2019-20 MUMBAI NAVI MUMBAI PUNE MAHARASHTRA Target: June 2020- Subject to weather window OIL LINE GAS LINE MOPU- MOBILE OFFSHORE PROCESS UNIT NOT TO SCALE 05 HINDUSTAN OIL EXPLORATION COMPANY LIMITED H❤EC 00#7Board presentation Q3 2019-20 B-80 PROJECT UPDATE 1. Drilling - - First well drilled to target depth of 2730 mtr safely Preparation for well testing is ongoing Drilling of second well to be completed in April 2020 2. Mobile Off-shore Processing Unit (MOPU) 3. Oil & Gas Export Systems Conversion of Rig to MOPU is nearing completion for pre-commissioning MOPU will be ready to sail-out in March 2020 on target First MOPU to be deployed in India Floating Storage and Off-loading (FSO) unit sourced Dry dock and mooring systems required for deployment in B-80 - Flexible pipelines to be installed to export gas by Dec 2020 06 HINDUSTAN OIL EXPLORATION COMPANY LIMITED प्रेम प्राईड PREM PRIDE मुम्बई MUMBAI H EC Ⓡ#8DIROK PHASE-II DEVELOPMENT Project on-track for delivery of additional gas by Q1 FY21-22 RFDP approved by Managing Committee 1. DRILLING 3 development wells & Appraisal - Appraisal well in North Dirok Increases production from 35 to 55 mmscfd 2. PROCESSING HMGPP capacity expansion Increases capacity from 35 to 55 mmscfd Commercial proposal received from Expro, UK for capacity expansion - Lead time 9 months - Investor presentation Q3 2019-20 3. DELIVERY 35 KM pipeline from HMGPP to marketing hub of Duliajan Will aid in obtaining premium price for additional gas Physical route survey completed Regulatory clearance in process RoU acquisition in progress 00 07 HINDUSTAN OIL EXPLORATION COMPANY LIMITED H❤EC®#9KHARSANG UPDATES & DEVELOPMENT PLAN Plan for 18 wells in Phase - I FDP approved with the following parameters: Reservoir OIIP/GIIP Production Rate Planned Activities Upper Girujan 223 MMBBIS/ 184 BCF Production to be increased to 1800 bopd from ~650 bopd 18 wells; Includes appraisal of deeper prospects Current Activities & Updates - RFDP & PSC extension reviewed and recommended by Management Committee for approval by Gol Forest Clearance is obtained. Mining Lease executed with the Govt. of Arunachal Pradesh Phase I completion target is Q2 FY 21-22* - * 08 | HINDUSTAN OIL EXPLORATION COMPANY LIMITED - Subject to JV & Regulatory approvals GeoEnpro Investor presentation Q3 2019-20 00 H❤EC®#10PY-3: CORPORATE DEVELOPMENTS - - - HEPI was acquired by Inveniere Energy on 2nd October 2019 Operatorship is retained by Hardy under new management HOEC has 21% stake in PY-3. Operates PY-1 Gas field with an offshore platform and onshore processing facilities close to PY-3 field - Production Sharing Contract extended till 2030 — PY-3 field was shut-in on 31 July 2011 when it was producing 3000+ bopd without any sub- surface issues SUN HOEC PY1 Investor presentation Q3 2019-20 PIPELINE TO HOEC PLANT TIE IN POINT FPS PY3 Gas export to be laid NO OF OPERATING FACILITIES AT OFFSHORE: 2 INCLUDING EXPORT LINE NO. OF ONSHORE FACILITIES: 1 THIRUKADAYUUR VILLAGE TAMIL NADU, INDIA 09 | HINDUSTAN OIL EXPLORATION COMPANY LIMITED HOEC PLANT 00 H❤EC®#11CAMBAY BLOCKS 3 blocks with developed infrastructure with upside to be exploited Gujarat E CAMBAY E Asjol; (O); PI 50.0% C D North Balol; (0); PI 25.0% CCB-ON-7; (0); PI 35.0% 3 blocks - Asjol, North Balol and CB-ON/7 - Revised FDP approved for Asjol & PSC extended upto 2030 Revised FDP submitted for North Balol New Discovery Investor presentation Q3 2019-20 MS P9 PRD-2PRS 4 P8 Surrendered Area from CB-ON T Proposed 97:15 Km Ring Fenced Contract Area-GB-ONZ B7 azad Leads R2 Area: CB-ON/7 - Additional 97.15 sq.km of R2 area granted to JV Commitment to acquire 3D seismic and drilling of 2 wells PSC expected to be executed soon HOEC is the highest bidder for four marginal onshore blocks of GSPC; Farm-in discussions with JV partner (with First Right of Refusal) initiated Drilling campaign for Cambay blocks are planned - 10 | HINDUSTAN OIL EXPLORATION COMPANY LIMITED H❤EC 00#12VALUE PROPOSITION Quality Asset Portfolio Strong Organisation Focused Strategy Investor presentation Q3 2019-20 Uniquely placed to combine a quality asset portfolio with a strong organisation through a focused strategy to deliver better returns 11 | HINDUSTAN OIL EXPLORATION COMPANY LIMITED 00 H❤EC®#13QUALITY ASSET PORTFOLIO A AAP-ON-94/1; (O); PI 26.882% B AA/ONDSF/KHEREM/2016; (O); PI 40.0% Assam B ASSAM ABAKAN K Umatara: PI-10% F Kharsang; (0); PI 30.0%* JAA-ONHP-2017/19; (O); PI 100.0% Portfolio of discovered resources - Ten blocks with discoveries producing / ready to be developed Diverse geographical footprint - Presence in 4 out of 7 producing basins in India Balanced portfolio - Offshore - 3 blocks/Onshore - 8 blocks & Oil/Gas Added 3 blocks in FY18-19 Investor presentation Q3 2019-20 Gujarat E CAMBAY C • Upside potential for exploration within portfolio with infrastructure for rapid monetisation Operatorship in majority of blocks to drive value creation • One exploratory block in our focus area North 12 Tamil G EASTERN OFFSHORE Nadu H East added to portfolio through OALP-I HINDUSTAN OIL EXPLORATION COMPANY LIMITED * Both directly and indirectly - G PY-1; (O); PI 100% H PY-3; PI 21% WESTERN OFFSHORE E Asjol; (0); PI 50.0% D North Balo; (O); PI 25.0% C CB-ON-7; (D); PI 35.0% 1 MB/OSDSF/B-80/2016; (O); PI 50.0% Offshore blocks - 2 on eastern offshore and one in Mumbai high H❤EC 00#14FIRING UP THE GROWTH ENGINE GP Gross Production NP-Net Production Boepd - Barrels of Oil Equivalent Forecast GP ~ 10000 boepd GP-9170 boepd GP-8563 boepd FY 17-18 FY 18 - 19 Gas Oil Ratio O 87% Investor presentation Q3 2019-20 Net Production to double GP ~ 15000 boepd N GP ~ 21000 boepd Expected Production NP-4107 boepd NP ~ 4500 boepd NP-3463 boepd 13% FY20 (Till Dec'19) 18% 82% NP7500 boepd NP ~ 9000 boepd FY 20-21 B-80 'First Oil' - June 2020 FY 21-22 Dirok Phase -II Q1 FY21-22 Kharsang Phase-I Q2 FY21-22 32% FY 19-20 1 13% 37% ■■Oil/Cond. (bbl/d) ■■■Gas (boe/d) ■Oil/ Cond. (bbl/d) Does not include the expected production from PY-3 & gas from Kharsang field 13 I HINDUSTAN OIL EXPLORATION COMPANY LIMITED 87% ■Gas (boe/d) 63% 68% H❤EC 00#1514 888523220 90 Apr-2016 Jun-2016 MARKET OUTLOOK Aug-2016 Oct-2016 Dec-2016 Apr-2017 Feb-2017 Jun-2017 Aug-2017 Historic Brent Price ($/bbl) Oct-2017 Dec-2017 Apr-2018 Jun-2018 Aug-2018 Feb-2018 Oct-2018 Dec-2018 Apr-2019 Jun-2019 Aug-2019 Feb-2019 Oct-2019 Dec-2019 0.5 Investor presentation Q3 2019-20 Gol Price of Domestic Gas ($/mmbtu) 3.69 4 3.36 3.23 3.5 3.06 3.06 2.89 3 2.5 2.48 2.5 2 1.5 1 0 0 Apr'16-Sep'16 Oct 16-Mar'17 Apr'17-Sep'17 Oct'17-Mar'18 Apr'18-Sep'18 Oct'18-Mar'19 - - - Indian E&P industry opening up due to key policy changes and introduction of regular OALP / DSF bid rounds by GOI and production enhancement contracts by PSU Focused Policy Thrust to Grow Gas Economy through City Gas Distribution, Big Boost to North East Gas Grid through Viability Gap Funding Multiple inorganic opportunities available in core operational areas; Opportunities in Oil Field Services Sector Domestic Gas price from Oct 2019 to Mar 2020 decreased to $3.23/mmbtu- current pricing model requires revision PY-1 gas is sold under long-term fixed price contract at $3.66/mmbtu on existing discoveries | HINDUSTAN OIL EXPLORATION COMPANY LIMITED Apr'19-Sep'19 Oct 19-Mar'19 HOEC#16BUSINESS OUTLOOK SUMMARY 1 Investor presentation Q3 2019-20 Unique value proposition - Quality asset portfolio with strong organisational capabilities 2 Company established on firm financial foundation with growing cash flow from operations 3 Management committed to growth through executing focused strategy 4 Robust pipeline of low-risk, short cash cycle projects planned/under-execution 5 Company well positioned to deliver industry leading growth and returns 15 HINDUSTAN OIL EXPLORATION COMPANY LIMITED 00 H❤EC®#17H EC コヨ Annexures#18STANDALONE STATEMENT OF PROFIT & LOSS Investor presentation Q3 2019-20 For the Quarter Particulars INCOME Revenue from operations Other income Total revenue EXPENSES Qtr3-19-20 Qtr2-19-20 For the year ( Crores) YTD-19-20 FY 18-19 45.18 56.86 151.39 236.89 5.68 4.89 14.59 10.06 50.86 61.75 165.98 246.95 Expenses from producing oil and gas blocks 6.46 6.68 19.73 28.23 Royalty,Cess and NCCD 5.17 6.97 17.37 19.69 Decrease/(Increase) in stock of crude oil and condensate (0.24) (0.01) 0.55 3.92 Employee benefits expense 0.31 3.27 4.28 3.96 Finance costs - unwinding of discount on decommissioning liability 1.30 1.30 3.89 1.40 Depreciation, depletion and amortization 6.29 6.94 20.00 35.06 Other expenses 1.18 1.98 4.38 7.11 Total expenses 20.47 27.13 70.20 99.37 Profit before tax and exceptional Items Exceptional Items - Income Profit before tax Net tax expenses Net profit for the period 30.39 34.62 95.78 147.58 22.11 4.10 26.22 2.31 52.50 38.72 122.00 149.89 0.93 52.50 38.72 122.00 148.96 Other comprehensive income Total comprehensive income (0.04) (0.04) (0.12) (0.16) 52.46 38.68 121.88 148.80 Earnings per equity share of 10 each-Basic 3.97 2.93 9.22 11.42 -Diluted 3.97 2.93 9.22 11.32 16 HINDUSTAN OIL EXPLORATION COMPANY LIMITED H EC#19STANDALONE STATEMENT OF ASSET & LIABILITIES (UN AUDITED) Investor presentation Q3 2019-20 As at crores As at ASSETS EQUITY AND LIABILITIES Dec 31, 2019 March 31, 2019 Dec 31, 2019 Non-current assets Property, Plant and Equipment Shareholders' funds Equity share capital (i) Oil and gas assets (ii) Others 308.24 325.52 Other equity 2.86 2.81 Total equity crores March 31, 2019 132.26 130.51 513.71 391.83 645.97 522.34 Capital work-in-progress 56.91 2.13 Investment property 4.20 4.36 Non-current liabilities Intangible assets 9.93 10.27 Financial liabilities Financial Assets (i) Trade payables 22.11 (i) Investments in subsidiary 59.46 59.46 (ii) Site restoration deposit 62.08 58.98 (ii) Other financial liabilities Provisions 0.31 0.31 102.26 98.28 (ii) Other financial assets 3.01 Other non-current liabilities 0.10 Other non current assets Total non-current assets Current assets Inventories 0.08 0.08 506.77 463.61 Total non-current liabilities 102.57 120.80 38.58 22.71 Current liabilities Financial assets Financial liabilities (i) Investments 110.63 111.29 (i) Trade payables 44.48 10.76 (ii) Trade receivables 47.04 39.09 (ii) Other financial liabilities 60.70 27.76 (iii) Cash and bank balances 38.77 17.40 Provisions 0.10 0.10 (iv) Other bank balances 8.34 7.79 Other current liabilities 2.07 2.71 (v) Loan to subsidiary 48.11 12.11 (vi) Other financial assets 3.66 5.22 Income tax assets 4.20 4.51 Total current liabilities 107.35 41.33 Other current assets 49.79 0.74 Total current assets 349.12 220.86 TOTAL 855.89 684.47 TOTAL 855.89 684.47 17 HINDUSTAN OIL EXPLORATION COMPANY LIMITED H EC#20CONSOLIDATED STATEMENT OF PROFIT & LOSS For the Quarter Particulars INCOME Revenue from operations Other income Total revenue EXPENSES Expenses from producing oil and gas blocks Royalty, Cess and NCCD Qtr3-19-20 Qtr2-19-20 Investor presentation Q3 2019-20 For the year ( Crores) YTD-19-20 FY 18-19 49.50 62.38 168.56 265.14 5.66 5.06 14.79 11.19 55.16 67.44 183.35 276.33 8.98 8.80 26.22 37.21 5.43 7.27 18.25 20.84 Decrease (Increase) in stock of crude oil and condensate (1.43) 0.08 (0.27) 4.18 Employee benefits expense 0.35 3.30 4.63 5.32 Finance cost-unwinding of discount on decommissioning liability 1.34 1.34 4.03 1.57 - Others (0.22) 0.12 0.02 0.10 Depreciation, depletion and amortization 7.65 8.34 24.16 43.80 Other expenses 1.98 2.52 6.10 10.48 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 period 24.08 31.77 83.14 123.50 31.08 35.67 100.21 152.83 0.42 0.52 0.86 1.42 22.11 4.10 26.22 2.62 53.61 40.29 127.29 156.87 0.27 0.31 1.31 0.13 53.34 39.98 125.98 156.74 Other comprehensive income Total comprehensive income Earnings per equity share of 10 each - Basic -Diluted (0.04) (0.04) (0.12) (0.16) 53.30 39.94 125.86 156.58 4.03 3.02 9.53 12.01 4.03 3.02 9.53 11.91 18 HINDUSTAN OIL EXPLORATION COMPANY LIMITED H EC#21March 31, 2019 CONSOLIDATED STATEMENT OF ASSET & LIABILITIES (UNAUDITED) Investor presentation Q3 2019-20 ASSETS Non-current assets As at Dec 31, 2019 crores As at crores EQUITY AND LIABILITIES Dec 31, 2019 March 31, 2019 Shareholders' funds Property, Plant and Equipment (i) Oil and gas assets (ii) Others Equity share capital 335.79 355.71 Other equity 12.07 13.52 Total equity 132.26 130.51 535.59 409.73 667.85 540.24 Capital work-in-progress 197.42 26.18 Non-current liabilities Investment property 4.20 4.36 Financial liabilities Intangible assets 9.93 10.27 (i) Long term borrowings 0.12 0.18 Financial Assets (ii) Trade payables 22.11 (i) Investments in associate 18.09 17.22 (iii) Other financial liabilities 0.31 0.31 (ii) Site restoration deposit 64.83 61.60 Provisions 105.59 101.46 (iii) Other financial assets 0.07 0.06 Other non current assets Total non-current assets Current assets Inventories 3.08 0.08 Other non-current liabilities Deferred tax liability 0.10 2.87 3.95 645.48 489.00 Total non-current liabilities 108.89 128.11 44.50 27.83 Current liabilities Financial assets Financial liabilities (i) Investments 120.03 119.74 (i) Short term borrowings 12.12 11.76 (ii) Trade receivables 47.77 40.93 (ii) Trade payables 123.78 16.28 (iii) Cash and bank balances 56.42 27.64 (iv) Other financial liabilities 60.90 27.95 (iv) Other bank balances 8.34 7.79 Provisions 7.01 6.81 (V) Other financial assets 3.64 10.55 Other current liabilities 2.56 3.00 Income tax assets 6.97 9.68 Total current liabilities 206.37 65.80 Other current assets 49.96 0.99 Total current assets TOTAL 337.63 245.15 983.11 734.15 TOTAL 19 | HINDUSTAN OIL EXPLORATION COMPANY LIMITED 983.11 734.15 H EC#22GOI POLICY ON ROYALTY & CESS Previously Royalty & Cess Revenue Paid 100% by Licensee and not cost recoverable Revenue Contract Costs Exploration Development Investor presentation Q3 2019-20 After Gol Policy on Royalty & Cess Royalty & Cess To be shared by JV parties in ratio of their Pl and cost recoverable as contract costs Contract Costs Exploration Development Production Royalty & Cess To be shared by JV parties in ratio of their share of unrecovered cost Production Cost Petroleum Cost Petroleum To be shared by JV parties in ratio of their share of unrecovered cost Profit Petroleum Up to 100% of annual revenue is allowed for cost recovery. Any amount left after cost recovery becomes Profit Petroleum to be shared with Gol basis IM and JV parties in ratio of their PI Differential returns to Licensee and other JV Parties IM - Investment Multiple; PI - Participating Interest 20 | HINDUSTAN OIL EXPLORATION COMPANY LIMITED Profit Petroleum Up to 100% of annual revenue is allowed for cost recovery. Any amount left after cost recovery becomes Profit Petroleum to be shared with Gol basis IM and JV parties in ratio of their Pl Returns get equalised facilitating additional investments Impacts Dirok and CB-ON-7 H EC#23INVESTMENT MULTIPLES Investor presentation Q3 2019-20 Block AAP-ON-94/1 PY-1* PY-3* N. Balol Asjol* CB-ON-7 Kharsang* 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 limit 80% 100% 100% 80% 100% 60% 100% Investment Multiple <1 0% 0% 10% 20% 0% 0% 5% 1<1.5 10% 5% 10% 20% 10% 25% 5% 1.5<2 25% 5% 25% 30% 20% 30% 10% 2<2.5 35% 50% 40% 50% 30% 35% 15% 2.5<3 45% 50% 50% 50% 40% 40% 20% 3<3.5 50% 50% 60% 50% 50% 45% 25% >3.5 50% 50% 70% 50% 50% 50% 30% * - 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 Pl 21 HINDUSTAN OIL EXPLORATION COMPANY LIMITED H EC#24RSC PARAMETERS Government Share Block Government Share of Revenue LRP Government Share of Revenue - HRP [Biddable] (Diddable] Y Royalty Cess LRP Investor presentation Q3 2019-20 B-80 Kherem AA-ONHP-2017/19 Umatara 12% 21% 22% 48% 55% 99% 99% 10% for crude oil, condensate and Natural Gas 0 12.5% for crude oil and condensate; 10% for natural gas 0 12.5% for crude oil and condensate; 10% for natural gas 0 **** HRP LRP (USD 0.0100 MM/ day] HRP (USD 1.0000 MM/day) X,Y >0 Revenue 22 | HINDUSTAN OIL EXPLORATION COMPANY LIMITED 99% 12.5% for crude oil and condensate; 10% for natural gas 0 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 LRP - Lower Revenue Point HRP-Higher Revenue Point H EC#25DIROK: DELIVERED RESULTS ON FAST-TRACK MODE BCPL DIBRUGARH TINSUKIA EXISTING PIPELINE CGGS DULIAJAN BISE NRL LTPS 23 35KM BURHI DIHING RIVER NAMRUP (APL, APGCL, BVFCL) Oil Existing Network Pipeline (12") Pipeline 14.5") Proposed New Pipeline (8") Oil's Existing Customers Customer pipelines | HINDUSTAN OIL EXPLORATION COMPANY LIMITED Investor presentation Q3 2019-20 KUSIJAN DIGBOI OIL'S Existing Network 12KM 4.5" Pipeline BURHI DIHING RIVER DIROK-1, 2&3 9KM M IOC REFINERY 8" Proposed Pipeline GPP BHORPOWAI 12" Pipeline DIROK -5&6 DIROK-4 &GGS MARGHERITA NOT TO SCALE H EC#26KHEREM (ARUNACHAL PRADESH - DSF BLOCK) • Block Area: 16.45 Sq. Km. . . Drilled Wells: 3 Tested Production: ➤ Oil 402 bopd ➤ Gas not measured Discovered Resources: Resources DSF Data Million BBLS HOEC Internal Million BBLS STOIIP 3 10.27 GIIP (BCF) 17 54.19 Baghsh Barekuri Chandmari South Makum North Makum Bornapjan TINSUKIA Matimekana bathar 1 Deohel Jutiban Zaloni RajaZatoni West ajanBalea Noch Norb South 2 Investor presentation Q3 2019-20 HopNorthBogapani Samdang Que Kherem 2 Jengoni 2 DIGBO Bigbol Greater Jorajan Kusijan DISHING W Nahorkaliya NAHORKATIYA arajan Doom Dooma Phillobari • • • Reservoir Properties: ➤Two pay zones Girujan pay -1 & pay-2 Light oil 38.7°API Nearest facilities : Bordumasa Oil collecting Station via 6" pipeline 18kms ➤Digboi Refinery, via 6" pipeline 30 kms 38 • Petroleum Mining Lease transfer/(PML) still awaited Effective Date Starts from the date of PML transfer Forest Clearance obtained. PML transfer awaited 24 HINDUSTAN OIL EXPLORATION COMPANY LIMITED -Namdang Bordumsa OCS 6' x 18 KM Kumcha Kharsang N 6x30 KM Kherem Kharsang 6' x 30 KM 045 Digboi Refinery Dirok Field Margherita Margherita 16.2 km Jairamp HOEC#27ASSET PORTFOLIO & JV PARTNERS Investor presentation Q3 2019-20 Block Name Operator Location Oil/Gas PI Partner(s) Dirok HOEC Onshore Gas 27% ऑयल इंडिया लिमिटेड Oil India Limited Indian CHI PY-1 HOEC Offshore Gas 100% Nil Oil/Gas Consumers Gas OIL India; Condensate - IOCL Gas - GAIL; Condensate - CPCL CB-ON-7 HOEC Onshore Oil 35% GSPC Oil- IOCL ОПСС North Balol HOEC Onshore Gas 25% GSPC GNRL Gas - GSPCL Asjol HOEC Onshore Oil 50% GSPC Oil - IOCL Kharsang Geoenpro Onshore Oil 30%* JUBILANT ENPRO GeoLinpro Geopetrol Oil - IOCL B-80 HOEC Offshore Oil & Gas 50% Adbhoot NA Kherem HOEC Onshore Oil & Gas 40% ऑयल इंडिया लिमिटेड Oil India Limited Prize NA PETROLEUM www.EE HOEC & Umatara Onshore Oil 10% NA IOC Indian O PY-3 Hardy Oil Offshore Oil 21% TATA PETRODYNE LIMITED NA ONGC Hardy Oil AA-ONHP- HOEC Onshore Exploratory 100% NA 2017/19 25 | HINDUSTAN OIL EXPLORATION COMPANY LIMITED * Both directly and indirectly Producing Development Development Deferred PI = Participating Interest Exploratory H EC#28COMPANY OVERVIEW Investor presentation Q3 2019-20 Shareholding Pattern (more than 10%) Retail & Others 75.39% (65,000+) Board of Directors Vivek Rae Non-Executive Independent Director / Chairman P. K. Borthakur Non-Executive Independent Director Sharmila Amin Non-Executive Independent Director Ashok Goel Non-Executive Non-Independent Director 26 | HINDUSTAN OIL EXPLORATION COMPANY LIMITED Note: Shareholding, & Board Members as on December 31, 2019 10.65% 13.96% HDFC AKGT Rohit Rajgopal Dhoot Non-Executive Non-Independent Director P. Elango Managing Director R. Jeevanandam Executive Director & CFO HOEC#29CONTACT For further information, please contact: Company: Investor Relations Advisors: Hindustan Oil Exploration Company Ltd. CIN: L11100GJ1996PLC029880 G. Josephin Daisy [email protected] www.hoec.com Investor presentation Q3 2019-20 Stellar IR Advisors Pvt. Ltd. CIN: U74900MH2014PTC259212 Gaurang Vasani/ Hina Agarwal [email protected]/[email protected] www.stellar-ir.com 27 | HINDUSTAN OIL EXPLORATION COMPANY LIMITED HOEC#30GLOSSARY Investor presentation Q3 2019-20 2P Proved + Probable reserves RSC - Revenue Sharing Contract BCF Billion Cubic Feet of Gas HMGPP - Hollong Modular Gas Processing Plant GGS Gas Gathering Station HMGPP Modular Gas Processing Plant MMbbls Million Barrels of Oil MMSCFD Million Standard Cubic Feet per Day MMSCMD STOIIP GIIP PI PSC Million Standard Cubic Meter per Day Stock Tank Oil Initially In Place Gas Initially In Place Participating Interest Production Sharing Contract EC Environmental Clearance 28 | HINDUSTAN OIL EXPLORATION COMPANY LIMITED HOEC