Investor Presentaiton

M MEDCOENERGI 14 Σ TARGETED PORTFOLIO MANAGEMENT Closed and Integrated Value Adding Acquisitions A Acquisitions have added value through enhanced scale, control and organizational competence. Acquisition targets are screened to ensure: • Improved MedcoEnergi credit status and profitability Manageable risk (knowledge of asset, organization capabilities, subsurface, markets) Growth & upside potential and consistent with MedcoEnergi's energy transition strategy 2016 2016 2016/17 2017 2017/2019 2019 South Natuna Sea Block B Access to offshore capabilities and Singapore and Malaysia gas markets PT Newmont Nusa Tenggara Copper as a strategic component of electrification Block A, Aceh Secured resources and project control Macmahon Holdings Ltd. Access to core capabilities to improve mining operational efficiencies PT Medco Power Indonesia Ophir Energy plc Expanded Southeast Asian presence Regain full control of MPI and secured full alignment of MPI business strategy A US$225mn US$650mn (net) US$65mn Portfolio Rationalization 2017/2019 Mature Assets Bawean, 35% of SSB & Rimau PSC and acreages USA & Tunisia US$85mn 2018/2019 2018-2020 • US$143mn US$161mn A £408mn 2022 ConocoPhillips Indonesian Assets Entrenched position as the leading supplier of piped gas to Indonesia and Singapore markets US$1,355mn Non-core assets sales to focus business on oil & gas, power, and copper mining Further portfolio upgrading through selective asset divestments 2019 2021 2022/2023 Sale of Non Core Assets . Divested water distribution project and small coal mine . Sale of 51% of property business US$180mn Amman Mineral (AMNT) Monetized shareholder loan, conversion into equity, and sale of 3.7% and 10% US$464mn Exit Ophir's deep water licenses Mexico Block 5, EG, Aru, W Papua, Bangladesh, Vietnam US$19mn PT Medco Power Indonesia Medco Power and Kansai Electric formed a 60:40 strategic alliance in Gas IPP and O&M, for growth in the Power sector Investment in Growth International Non Operated Assets Divestment of non- operated international assets

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