1Q2023 ANALYST PRESENTATION

23.05.2023

Disclaimer

The information contained in this presentation is provided by Esso (Thailand) Public Company Limited (the "Company") and is subject to change without notice, its accuracy is not guaranteed and it may not contain all material information concerning the Company. None of the Company, or any of their respective members, directors, officers, employees or affiliates nor any other person accepts any liability whatsoever for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection therewith.

This presentation contains statements that constitute forward-looking statements. These statements include descriptions regarding the intent, belief or current expectations of the Company or its officers with respect to the consolidated results of operations and financial condition, and future events and plans of the Company. These statements can be recognized by the use of words such as "expects," "plans," "will," "estimates," "projects," or words of similar meaning. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in the forward-looking statements as a result of various factors and assumptions. Forward-looking statements are based on

management's knowledge and reasonable expectations on the date hereof, and the Company assumes no duty to update these

statements as of any future date.

This presentation does not constitute or form part of any offer for sale or subscription of or solicitation or invitation of any offer to buy or subscribe for any securities, nor shall it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever. No reliance may be placed for any purposes whatsoever on the information set forth in this presentation or on its completeness.

2

Industry and Business Environment

  • Average Dubai prices in 1Q2023 was $80.3/Bbl
  • 1Q2023 Industry gross refining margin was $8.2/Bbl
  • 1Q2023 Thailand GDP growth 2.7% year on year
  • 1Q2023 Thailand fuel demand increased 5.6% year on year

Source : GDP : NESDC, Reuters: Oil prices and Industry GRM, DOEB: Industry demand growth

3

1Q2023 HIGHLIGHT

Net Profit

Operating GRM

824 Million Baht

$8.7

/Bbl

Accounting GRM of 4.3$/Bbl

Cash flow from operations

Retail sales volume

11,696

Million Baht

60.8KBD

Record high volume

Crude intake

138 KBD

To meet country's growing demand

Retail Footprint

820 stations

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Margins and Crude Intake

Industry Gross Refining Margin ($/Bbl)

21.4

8.0

7.1

8.2

6.3

1Q22

2Q22

3Q22

4Q22

1Q23

Gross Refining Margin ($/Bbl)

Accounting GRM

Operating GRM

26.9

22.7

19.4

4.9

6.9

8.7

4.5

4.3

-1.5

-7.4

1Q22

2Q22

3Q22

4Q22

1Q23

Crack Spread ($/Bbl)

UGP

50.3

ADO

40.4

40.7

35.0

28.1

17.8

21.0

13.2

18.6

9.4

1Q22

2Q22

3Q22

4Q22

1Q23

Crude Intake (Kbd)

128

132

134

130

138

1Q22

2Q22

3Q22

4Q22

1Q23

Source : Reuters, Platt's

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Disclaimer

Esso Thailand pcl published this content on 23 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 May 2023 03:25:08 UTC.