Pt Medco Energi Internasional Tbk · IDX:MEDC
Pt Medco Energi Internasional Tbk — Q1 2025 Earnings Presentation
26 slides from Pt Medco Energi Internasional Tbk's earnings presentation, May 30, 2025
Slide 1: PT Medco Energi Internasional Tbk, Jakarta, 30 May 2025
PT Medco Energi Internasional Tbk (IDX Ticker: MEDC) | Jakarta, 30 May 2025
Slide 2: Agenda and disclaimer
Highlights 3 Operational Performance 6 Financial Performance 9 ESG Update 12 Outlook 16 Appendix 18 East Bali PV The following presentation has been prepared by PT Medco Energi Internasional Tbk. (“Company” or “MedcoEnergi”) and contains certain projections, plans, business strategies, policies of t
Slide 3: Bualuang Platform, Thailand – PPE extension successfully secured
3 Bualuang Platform, Thailand – PPE extension successfully secured
Slide 4: Q1 2025 key highlights
143 $ 89mn Oil & Gas : $78mn $ 18mn 7.7% $ 3.4bn $332mn 1.3% 1.3% Fitch S&P : BB- : BB- Moody’s : B1+ mboepd Power : $11mn 1.7x MSCI : AA 871 8.4 16% $ 2.8bn 10% Q1 2025 US$72/boe 1.8x 10% Sustainalytics : 38.3 GWh US$/boe Mid-cycle Price US$65/boe CDP :B Q1 Results delayed due to USD Bond blackout
Slide 5: Building long-term value with a portfolio of sustainable energy and natural resource businesses
Building long-term value with a portfolio of sustainable energy and natural resource businesses Oil & Gas Clean Power Copper & Gold Mining • Natuna Forel first oil inaugurated by • Ijen Geothermal Phase-1 in service • Copper production 37 Mlbs and gold the Indonesian President and Energy • East Bali
Slide 6: Marlin Natuna FPSO, Forel field, Natuna, onstream in May 2025
6 Marlin Natuna FPSO, Forel field, Natuna, onstream in May 2025
Slide 7: Solid Q1 Performance
Solid Q1 Performance Oil & Gas Production (mboepd) Oil & Gas Cash Cost (US$/boe) • Production 143 mboepd due to 163 seasonality reduced gas demand and 160 152 149 143 150 150 planned maintenance at Senoro 50% 94 • Power sales 871 GWh, reduced 129 128 111 109 104 105 <10 9.5 9.8 temporarily by Riau I
Slide 8: Progressing Corridor and Natuna projects
Progressing Corridor and Natuna projects Block B Natuna • The Forel and Terubuk fields will produce up to 20,000 BOPD and 60 MMSCFD, ~ 30,000 BOEPD1 total • Drilling completed at Terubuk L, first gas April 2025; Terubuk M targeted for Q4 2025 • PSC extension application in progress Corridor • Phase
Slide 9: MEDCOENERGI
MEDCOENERGI
Slide 10: Resilient EBITDA and proactive balance sheet management
Resilient EBITDA and proactive balance sheet management EBITDA (US$mn) RG Debt (US$ bn) and Net Debt to EBITDA 1 • EBITDA US$332mn, above Q4 2024, 2.7 163 160 driven by cost management but partially 152 149 143 2.1 1.8 1.9 1.7 1.4 offset by seasonality lower gas demand 94 2.6 2.7 2.8 2.7 2.7 2.8 2.5
Slide 11: Consistent execution of guiding principles delivers results
Consistent execution of guiding principles delivers results ROE vs Peers1 2023 ROE vs Peers1 2024 • ROE outperforms Peers1 20% 19% 16% 17% 15% • Acquisitions have significantly increased our 10% 11% 11% 12% 13% size, scale, and cash generation capacity 3% • A diversified energy growth stock and nati
Slide 12: Sarulla Geothermal Power Facilities, North Sumatra
12 Sarulla Geothermal Power Facilities, North Sumatra
Slide 13: Achieved 27% renewable mix installed capacity, exceeding 2025 target
E&P Scope 1&2 GHG Emissions1,3, million tCO2e • Achieved 27% renewable mix installed 30% reduction from Base Year 2019 capacity, exceeding 2025 target ACHIEVED • Met 2025 Scope 1 & 2 GHG emission . 5.4 4.8 4.6 4.4 4.2 3.8 20% 30% and methane emission reduction interim GHG targets, and assured & disc
Slide 14: Ijen geothermal, East Java
First geothermal IPP in East Java • Ijen Banyuwangi, Bondowoso, East Java • PPA Contract 110MW, sold to PLN • Phase 1 capacity 35MW • Mechanical completion Q4 2024, COD Q1 2025 • Project cost: US$140mn • Medco 51%, Ormat 49% • Phase 2 to expand capacity to 55MW Q2 2024 Q3 2024 Q4 2024 Q1 2025 Comple
Slide 15: Supplying clean energy to Bali
Supplying clean energy to Bali • Kubu, Karangasem, East Bali • Providing green electricity to Java-Bali grid • 25MWp, sold to PLN • Construction complete & COD Q2 2025 • Project cost: US$22mn • Medco 51%, Solar Philippines 49% Q1 2022 Q4 2023 Q1 2025 Q2 2025 PPA Signing Financial Close Mechanical Co
Slide 16: MEDCOENERGI
MEDCOENERGI
Slide 17: Q1 2025 Financial Results and 2025 Guidance
Q1 2025 Financial Results 1.7x 143 871 $ 89mn 8.4 Q1 2025 16% 435 1.8x US$72/boe Oil & Gas : $78mn mboepd GWh Power : $11mn US$/boe Mid-cycle Price US$65/boe 2025 Guidance 4,500 $430mn <10 <2.5 >15% Oil & Gas : 370 145 - 150 Power : 65 mboepd GWh Oil & Gas : $400mn Power : $30mn US$/boe Mid-cycle pr
Slide 18: Appendix
| Appendix
Slide 19: Diverse energy mix of Oil & Gas, Clean Power, and Copper & Gold Mining
Diverse energy mix of Oil & Gas, Clean Power, and Copper & Gold Mining 19
Slide 20: Metrics: Oil & Gas
Q1 Q4 QoQ FY FY YoY Metrics 2025 2024 ∆% 2024 2023 ∆% Net 2P Reserves, MMBOE Production1 Q1 2025 Oil, MBOPD 39.0 39.9 (2.3) 41.3 32.1 28.7 5-yr 2P RRR : 157% 5-yr 2P FD&A : US$5.3/boe Gas, MMSCFD 566.6 593.1 (4.5) 603.4 697.4 (13.5) 10.6 years 10.5 years 10.4 years 539 48 Lifting/Sales 74 76 493 2 1
Slide 21: Metrics: Power
Q1 Q4 QoQ FY FY YoY Gross Operating Installed Capacity, MW Metrics 2025 2024 ∆% 2024 2023 ∆% IPP Sold and O&M Capacity1 2,864 2,851 2,901 3,013 IPP Sold, GWh 871 1,146 (24.0) 4,108 4,155 (1.1) 2,288 939 926 953 926 Renewables, GWh 243 219 11.1 831 801 3.8 638 Non Renewables, GWh 628 927 (32.2) 3,277
Slide 22: Metrics: Copper & Gold
Q1 Q4 QoQ FY FY YoY Copper Gross Reserves & Resources Gold Gross Reserves & Resources Metrics 2025 2024 ∆% 2024 2023 ∆% (Blbs) 31/12/2024 (Moz) 31/12/2024 Production Copper, Mlbs 36.9 59.4 (37.9) 395 312 26.6 25.1 Gold, Kozs 32.3 94.8 (65.9) 803 463 73.3 35.1 Sales 17.8 26.4 Copper, Mlbs - 16.5 (100
Slide 23: Average realized prices, revenue, EBITDA and debt (QoQ)
AVERAGE REVENUE GROSS PROFIT EBITDA REALIZED PRICES Oil US$72 US$560 US$229 US$332 Price /boe 10% Consolidated million 1% Consolidated million 1% Consolidated million 1% Gas US$7.1 Restricted US$511 Restricted US$210 Restricted US$321 Price /MMBTU 1% Group million 2% Group million 2% Group million 1
Slide 24: Average realized prices, revenue, EBITDA and debt (YoY)
AVERAGE REVENUE GROSS PROFIT EBITDA REALIZED PRICES Oil US$72 US$560 US$229 US$332 Price /boe 0% Consolidated million 9% Consolidated million 10% Consolidated million 14% Gas US$7.1 Restricted US$511 Restricted US$210 Restricted US$321 Price /MMBTU 0% Group million 11% Group million 11% Group millio
Slide 25: ESG Performance
AAA We support AA AA CDP Score Report - A A A Climate Change BBB BBB As of 2024, PT Medco Energi Internasional Tbk received BB BB an MSCI ESG Rating of AA. 20211 2022 2023 2024 MedcoEnergi’s Score C B B B Dec-20 Nov-21 Dec-22 Nov-23 Nov-24 Oil & Gas Extraction & C C B B Performance Production Averag
Slide 26: PT Medco Energi Internasional Tbk
PT Medco Energi Internasional Tbk The Energy Building 53rd Floor SCBD Lot 11A Jl. Jend. Sudirman, Jakarta 12190 Indonesia P. +62-21 2995 3000 F. +62-21 2995 3001 E. investor.relations@medcoenergi.com investor.relations@medcoenergi.com Website : www.medcoenergi.com
PT Medco Energi Internasional — Q1 2025 Earnings Presentation on 6ix