PTT Exploration and Production Public : Unreviewed Financial Statements, Management Discussion and Analysis for the first quarter of 2020

PTTEP 13061/00-3390/2020

Investor Relations
Tel. [phone]

30 April 2020

President

The Stock Exchange of Thailand

93 Ratchadapisek Road, Din Daeng

Bangkok 10400

Dear Sir,

Subject: Unreviewed Financial Statements, Management Discussion and Analysis for the first quarter of 2020

PTT Exploration and Production Public Company Limited, or PTTEP, would like to submit Unreviewed Financial Statements of PTTEP and its subsidiaries (the Company) for the period of three months ended 31 March 2020 and Management Discussion and Analysis for the first quarter of 2020 as per attachment 1 and 2. These attached financial statements have already been approved by the Audit Committee on the basis that information is accurately represented and sufficient for investors.

For the first quarter of 2020, the Company total revenues were USD 1,771 million (equivalent to 55,335 million baht), an increase of USD 343 million when compared with USD 1,428 million (equivalent to 45,147 million baht) in the first quarter of 2019. Total expenses were USD 1,057 million (equivalent to 33,055 million baht), an increase of USD 128 million when compared with USD 929 million (equivalent to 29,377 million baht) in the first quarter of 2019.

The Company recorded net profit of USD 275 million (equivalent to 8,612 million baht) or earnings per share of USD 0.07 (equivalent to 2.14 baht) compared with net profit of USD 394 million (equivalent to 12,479 million baht) or earnings per share of USD 0.10 (equivalent to 3.03 baht) in the first quarter of 2019.

The financial position of the Company remains solid. As of 31 March 2020, the Company total consolidated assets were USD 22,364 million (equivalent to 730,668 million baht), which included cash and short-term investments of USD 3,248 million (equivalent to 106,106 million baht). Total liabilities were USD 10,802 million (equivalent to 352,919 million baht) including interest-bearing debt of USD 3,342 million (equivalent to 109,192 million baht) and total shareholders' equities were USD 11,562 million (equivalent to 377,749 million baht).

Please be informed accordingly.

Sincerely yours,

Phongsthorn Thavisin

Phongsthorn Thavisin

President and Chief Executive Officer