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Investor Presentaiton

MIE Holdings Corporation Financial update EBITDA breakdown analysis of China assets and Emir-Oil Breakdown of China Oilfields 105.46 105.59 104.54 104.56 Breakdown of Emir-Oil (1) 79.10 78.04 8.04 8.83 8.09 9.36 2.79 2.94 4.05 3.66 4.05 3.93 1.41 2.98 3.13 3.19 18.01 18.23 17.63 Purchases, services and other 14.13 8.58 ■Geological and geophysical expense 17.73 2.37 1.44 3.89 ■Purchases, services and other 5.99 ■Distribution and administrative expenses ■Distribution and administrative expenses 31.52 Employee compensation costs 32.03 Employee compensation costs 72.96 71.65 71.79 70.28 1H2013 (excluding (including Kongnan) Kongnan) 1H2013 1H2014 (excluding Kongnan) 1H2014 (including Kongnan) (1) Weighted average of Emir-Oil's export and domestic oil sales ■Taxes other than income tax ■ EBITDA ■Taxes other than income tax 28.49 24.11 ■ EBITDA 2013 1H 2014 1H 23 23
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