PTT Exploration and Production Public : Reviewed Financial Statements, Management’s Discussion and Analysis for the third quarter of 2020

PTTEP 13061/00-8047/2020

Investor Relations
Tel. [phone]

President

The Stock Exchange of Thailand

93 Ratchadapisek Road, Din Daeng

Bangkok 10400

Dear Sir,

Subject: Reviewed Financial Statements, Management's Discussion and Analysis for the third quarter of 2020

PTT Exploration and Production Public Company Limited, or PTTEP, would like to submit the Reviewed Financial Statements of PTTEP and its subsidiaries (the Company) for the period of three months and nine months ended 30 September 2020, and Management's Discussion and Analysis for the third quarter of 2020 as per attachment 1 and 2. These attached financial statements have been reviewed by the independent auditor from PricewaterhouseCoopers ABAS Ltd., and the Audit Committee on the basis that the information is accurately represented and sufficient for investors.

For the third quarter of 2020, the Company's total revenues were USD 1,305 million (equivalent to 40,887 million baht), a decrease of USD 288 million when compared with USD 1,593 million (equivalent to 48,940 million baht) in the third quarter of 2019. Total expenses were USD 940 million (equivalent to 29,452 million baht), a decrease of USD 102 million when compared with USD 1,042 million (equivalent to 31,986 million baht) in the third quarter of 2019.

The Company recorded net profit of 230 million (equivalent to 7,202 million baht) or earnings per share of USD 0.06 (equivalent to 1.79 baht), decreasing from net profit of USD 358 million (equivalent to 11,019 million baht) or earnings per share of USD 0.09 (equivalent to 2.66 baht) in the third quarter of 2019.

The financial position of the Company remains solid. As of 30 September 2020, the Company's total consolidated assets were USD 21,908 million (equivalent to 693,578 million baht), which included cash and short-term investments of USD 3,491 million (equivalent to 110,529 million baht). Total liabilities were USD 10,207 million (equivalent to 323,140 million baht) including interest-bearing debt of USD 3,874 million (equivalent to 122,644 million baht) and total shareholders' equity were USD 11,701 million (equivalent to 370,438 million baht).

Please be informed accordingly.

Sincerely yours,

Phongsthorn Thavisin

Phongsthorn Thavisin

Chief Executive Officer