Hibiscus Petroleum Bhd. · MYX:HIBISCS
Hibiscus Petroleum Bhd — Investor Presentation (July 2025)
54 slides from Hibiscus Petroleum Bhd's investor presentation, July 2025
Slide 1: Investor Presentation
INVESTOR PRESENTATION Logo July 2025 www.hibiscuspetroleum.com www.hibiscuspetroleum.com R2
Slide 2: Disclaimer
DISCLAIMER The purpose of this presentation is to provide general information about Hibiscus Petroleum Berhad (the “Company”) to assist potential investors in making their own evaluation of the Company and does not purport to be all-inclusive or to contain all of the information that a prospective i
Slide 3: Hibiscus at a Glance
HIBISCUS AT A GLANCE Production with Development & Geographic Diversification Driving Growth, & Operational Exploration Upside Across Stable Regions Excellence United Kingdom 5 5 2P: 20.8 MMboe • 2025-2026 CAPEX funded Producing Development 2C: 50.4 MMboe by internal cashflows and assets opportuniti
Slide 4: Creating Sustainable Shareholder Returns
CREATING SUSTAINABLE SHAREHOLDER RETURNS Delivering on dividend targets early in FY25 through effective capital management • ~5.1% - 6.4% dividend yield based on share price as of 4 April 2025 Capitalising on undervaluation via • Met FY2025 minimum dividend guidance of 8.0 sen/share (≥USD70/bbl) - 1
Slide 5: Shareholding Structure
SHAREHOLDING STRUCTURE Actively traded stock with strong institutional following Actively Traded Counter1 Strong Institutional following2 RM 1.16b 737.4m Market cap Total shares Institutional Holdings Retail Investors 35.6% 46.7% 74% 5.6m 3-month average daily Free float Corporate traded volume Mana
Slide 6: Leadership Team
LEADERSHIP TEAM Board of Directors Zainul Rahim bin Dr Kenneth Dato’ Sri Roushan Thomas Michael Dato’ Dr Zaha Rina Emeliana Dallan Zaidah binti Ibrahim Mohd Zain Gerard Pereira Arumugam Taylor binti Zahari Rice-Oxley Independent Non- Non-Independent Non- Managing Director Non-Independent Non- Senior
Slide 7: Our Assets
® : i pS mm, aie: OUR ASSETS 8 Hieiscus Petroleum
Slide 8: Asset Replenishment Record
ASSET REPLENISHMENT RECORD Successful reserves replacement, strong IRRs, & short payback periods Asset Replenishment Record (MMboe) Anasuria Peninsula North Sabah Cluster Hibiscus RRR: 231% RRR with PM3 Extension: 267% 2016 2018 2022 35.5 12.6 Internal Rate of 689% 298% 96% Return (IRR) 82.1 Total N
Slide 9: Producing Asset Licence Tenures
PRODUCING ASSET LICENCE TENURES Current reserves and resources to last up until 2047 2P Oil 2P Gas Name of Asset Country (MMbbl) (MMboe) 2015 2020 2025 2030 2035 2040 2045 2050 North Sabah PSC Malaysia 14.5 - Kinabalu PSC Malaysia 5.6 - Malaysia-Vietnam PM3 CAA PSC 7.6 17.0 CAA Block 46 Cai Nuoc Vie
Slide 10: Operational Metrics
OPERATIONAL METRICS Production and sales have risen through a series of strategic acquisitions Net Oil Production and Sales (MMbbl) Net Gas Sold (MMscf) Steady growth in net oil and condensate production and sales driven by Strong uptick in gas sales post acquisition of PM3 CAA PSC in January strate
Slide 11: Asset Enhancement Record
ASSET ENHANCEMENT RECORD Skilled in stabilising and increasing production rate post-acquisition North Sabah Peninsula Previous Operator Hibiscus Previous Operator Hibiscus 25 92% 92% 93% 92% 94% 90% 91% 90% 91% 89% 90% 100 97% 96% 86% 93% 95% 92% Gross Production (kbbl/d) Gross Production (kboe/d) 2
Slide 12: Received 20 Awards and Recognitions in FY2024
RECEIVED 20 AWARDS AND RECOGNITIONS IN FY2024 For safety, project delivery and excellence FOCUSED RECOGNITION FROM PETRONAS MALAYSIA UPSTREAM AWARDS 2024 ✓ High commitment excellent towards Production ✓ GOLD Award for Project Delivery Enhancement and Idle Well Reactivation activities ✓ GOLD Award fo
Slide 13: Transitioning Towards Net Zero 2050
TRANSITIONING TOWARDS NET ZERO 2050 Target to reduce 50% of GHG Scope 1 and 2 Emissions by FY2030 ❑ Malaysia and Vietnam : emissions reduction being addressed in PM3-CAA area, North Sabah and Kinabalu ▪ Material methane reduction through Membrane Phase 2; collaboration with PETRONAS on Fuel / Combus
Slide 14: Financial Highlights
FINANCIAL HIGHLIGHTS HiBiscu
Slide 15: P&L Highlights
P&L HIGHLIGHTS Consistent annual and sequential growth in topline and profitability Revenue (RM million) EBITDA (RM million) 738.0 339.9 308.2 653.2 300.2 302.6 603.5 572.8 477.4 149.8 1,321.1 1,269.7 2,715.7 3QFY24 4QFY24 1QFY25 2QFY25 3QFY25 1,082.7 2,344.8 3QFY24 4QFY24 1QFY25 2QFY25 3QFY25 797.9
Slide 16: Balance Sheet Overview
BALANCE SHEET OVERVIEW Robust balance sheet on the back of growing unrestricted cash balance and total assets Total Assets and Shareholders’ Funds (RM million) Unrestricted Cash and Total Debt (RM million) Total Assets and Shareholders’ Funds expanded on the Healthy net cash position to support CAPE
Slide 17: Still Maintaining Robust EBITDA Margins
STILL MAINTAINING ROBUST EBITDA MARGINS • Proven track record in navigating downturns • Operational control over assets gives us flexibility to adapt expenditures PM3 CAA NORTH SABAH KINABALU 70 100% 100 100% 140 100% 90% 90 90% No 90% 94 94.8 60 65 90 120 offtake 80% 80 80% 121 80% 84 79 in this 50
Slide 18: Group Performance
GROUP PERFORMANCE Multifold growth since 2016 SPAC: 2011 Anasuria: March 2016 Peninsula Hibiscus: January 2022 North Sabah: March 2018 Brunei: October 2024 121 ↑ 17.3x 2C Resources (MMbbl) 2P Reserves (MMboe) 78 ↑ 2.9x 27 Daily production (kboe) 28 ↑ 7.0x 7 4 FY2011 FY2013 FY2016 FY2017 FY2018 FY201
Slide 19: Growth Plan
GROWTH PLAN @ Hisiscus Petroleum
Slide 20: Growth Pillar 1: PM3 Master Hub Plan
GROWTH PILLAR 1 : PM3 MASTER HUB PLAN PM3 CAA 20-year extension – a key enabler of the PM3 Master Hub Plan Block 46 Cai Nuoc (Production) PM3 CAA (Production) Participating Interest PSC Expiry Year Operated Interest Partner: 70% 2027 35% PSC extended to PKNB Cluster PSC (Development) 2047 4 Discover
Slide 21: Growth Pillar 1: PM3 Master Hub Plan
GROWTH PILLAR 1 : PM3 MASTER HUB PLAN 2P Unlocks capacity for value accretive projects Reserves: 12.6 MMboe PM3 Bunga Saffron Incremental • Discovered gas field 2P + 2C: Bunga Yarrow • Potential gas development 26.0 2C Resources: MMboe CCS 13.4 Bunga Orkid • To commence injection MMboe Bunga Pakma b
Slide 22: Growth Pillar 2: Expansion Within Brunei
GROWTH PILLAR 2 : EXPANSION WITHIN BRUNEI Unlocks future opportunities in a well-established oil and gas jurisdiction Value Creation Strategies for Block B MLJ Future Potential Opportunities in Brunei • Increasing recoverable reserves and resources with the block • Cost rationalisation Current O&G P
Slide 23: Growth Pillar 2: Expansion Within Brunei
GROWTH PILLAR 2 : EXPANSION WITHIN BRUNEI Additional catalysts to build on our strategic presence in Brunei USD100 million syndicated Participation in future Islamic financing secured licensing rounds or field Solar farm project backed by Bruneian financial redevelopment opportunities (see next slid
Slide 24: Growth Pillar 2: Solar Farm Project
GROWTH PILLAR 2 : EXPANSION WITHIN BRUNEI Solar farm project Business Objective and Drivers • To develop new solar farm in Brunei for Hibiscus EP (Brunei) (“HEB”) Low Pressure Compressor as primary off taker for 10 years • Capacity: 12 MWp • In line with Brunei’s aspiration to install 600MW of solar
Slide 25: Growth Pillar: United Kingdom
GROWTH PILLAR 3 : UNITED KINGDOM Exploring other potential value accretive opportunities Marigold and Sunflower fields – First oil expected in 2028 Marigold and Sunflower are located Marigold Asset Future Opportunities around Marigold: north-east of Aberdeen, UK Kildrummy and Crown Discoveries Ithac
Slide 26: Fundamentals Not Reflected in Share Price
FUNDAMENTALS NOT REFLECTED IN SHARE PRICE
Slide 27: A Compelling Entry Point Relative to Peers 1
A COMPELLING ENTRY POINT RELATIVE TO PEERS… 1 Outperformed industry peer average over the past 5 years 5-YEAR REVENUE CAGR EBITDA Margin 22% Red Hibiscus 64% Blue Peer Average 47% 54% 49% 33% 44% 45% 44% 32% 19% Net Profit Margin 38% 13% 17% 17% -8% 14% 1% -2% 2% 7% -43% Return on Equity 30% 7% 15%
Slide 28: A Compelling Entry Point Relative to Peers 2
A COMPELLING ENTRY POINT RELATIVE TO PEERS… 2 HPB’s market valuation is significantly lower than the peer average and do not reflect its fundamentals EV/2P EV/EBITDA EV/PRODUCTION (USD’000) 5.1 2.5 16.0 2.9 9.3 1.0 Hibiscus Peer Average Hibiscus Peer Average Hibiscus Peer Average Source: Bloomberg a
Slide 29: A Compelling Entry Point Relative to Peers 3
A COMPELLING ENTRY POINT RELATIVE TO PEERS… 3 Overall growth has more than doubled vs FY2020, but market value lags behind, indicating undervaluation FY2020 Trailing 12 months % Change (T12M) (T12M vs FY2020) Operations: Daily Production (boe/d) 9,120 26,956 +196% 2P Reserves (MMboe) 46 85 +84% Aver
Slide 30: Short Story Ends; Rebound Chapter Begins
“SHORT” STORY ENDS; REBOUND CHAPTER BEGINS 1 2 Historical share price was RM2.40-RM 2.50 in June 2024. If Stable platform whereby future positive events are expected not for the short selling issue, with the stream of positive to impact share price favourably 200 events, the share price would be exp
Slide 31: Investment Merits
INVESTMENT MERITS Growth target supported by untapped resources and strong capital position to support development Strategy to hit 35,000 boe/day daily production rate by 2026 with identified opportunities in the Growth pipeline for further growth Operation Track record of operational excellence, sk
Slide 32: Thank You
THANK YOU For more information, please contact faq@hibiscuspetroleum.com
Slide 33: Appendices
APPENDICES ws
Slide 34: Current Portfolio of Reserves
CURRENT PORTFOLIO OF RESERVES Hibiscus is the operator for all the producing assets Block 46 Cai Nuoc Net 2P Oil Reserves Anasuria Cluster 70% 50%^ 2P Oil 0.2 MMbbl 2P Oil 15.6 MMbbl | 2P Gas 0.9 MMboe Fyne Block B MLJ 37.5% 2P Oil 3.1 MMbbl | 2P Gas 16.1 MMboe 50.3 42.5% 2C Oil 1.0 MMbbl | 2C Gas 5
Slide 35: Overview of North Sabah PSC
OVERVIEW OF NORTH SABAH PSC North Sabah Asset includes the Labuan Crude Oil Terminal which processes 50K oil barrels per day Kinabalu 4 1979 2040 Producing fields Production Start Date PSC expiry PM3 CAA 18.4 MMbbl 8.9 MMbbl Net 2P Oil Reserves Net 2C Oil Resources Vietnam Ownership Structure Off-ta
Slide 36: North Sabah PSC
NORTH SABAH PSC North Sabah Completion of near-field drilling campaign at South Furious Kinabalu Average Net Oil Production Rate (bbl/day) Near-Field Drilling Campaign South Furious Ungu Well PM3 CAA • Lab analysis on collected hydrocarbon sample for South Furious Ungu is 5,065 expected to be comple
Slide 37: Overview of Kinabalu PSC
OVERVIEW OF KINABALU PSC North Sabah Low-cost liquids producing asset with ongoing redevelopment projects; close proximity with North Sabah Kinabalu 3 1997 2032 6.4 MMbbl PM3 CAA Producing fields Production Start Date PSC expiry Net 2P Oil Reserves Vietnam Ownership Structure Off-taker PETRONAS Unit
Slide 38: Kinabalu PSC
KINABALU PSC North Sabah Successful infill drilling programme Kinabalu Average Net Oil Production Rate (bbl/day) PM3 CAA 2,904 2,638 Vietnam 2,371 2,368 United Kingdom Australia Brunei Darussalam 4QFY24 1QFY25 2QFY25 3QFY25 38
Slide 39: Overview of PM3 CAA PSC
OVERVIEW OF PM3 CAA PSC North Sabah A low-cost producing asset with long production history; possesses material future developments Kinabalu 7 1997 2047 Producing fields Production Start Date PSC expiry PM3 CAA 2 7.6 MMbbl 101.9 Bscf Exploration fields Net 2P Oil Reserves Net 2P Gas Reserves Vietnam
Slide 40: PM3 CAA PSC
PM3 CAA PSC North Sabah Stable gas lift operations and successful well work activities Licence Granted Under Kinabalu Average Net Oil and Gas Production Rate (boe/day) Enhanced PSC & UGSA Terms Sustained oil production from the H4 reservoir, stable gas lift operations, and • PSC expiry (at the time
Slide 41: Overview of Block Cai Nuoc PSC
OVERVIEW OF BLOCK 46 CAI NUOC PSC North Sabah Producing field is tied back to PM3 CAA’s facilities with potential to unlock undeveloped Hao Mai field Kinabalu 1 2003 2027 Producing field Production Start Date PSC expiry PM3 CAA 1 0.2 MMbbl Development field Net 2P Oil Reserves Vietnam Ownership Stru
Slide 42: Overview of Anasuria Cluster
OVERVIEW OF ANASURIA CLUSTER North Sabah Prominent location in the North Sea Kinabalu 4 1996 2035 15.6 MMbbl PM3 CAA Producing fields Production Start Date Economic Life Net 2P Oil Reserves Vietnam Effective Ownership Marketing Agreement with Hibiscus’ United Kingdom Asset Name Asset Type Stake Guil
Slide 43: Further Opportunities at the Anasuria Cluster
FURTHER OPPORTUNITIES AT THE ANASURIA CUSTER North Sabah Strong growth opportunities through our 100% owned development asset – Teal West Kinabalu Exciting Tie back opportunity in Teal West PM3 CAA July Sep 2023 2023 Vietnam Environmental Final Investment Statement (ES) Decision (FID) United Kingdom
Slide 44: Potential Game Changer Development Assets in the UK
POTENTIAL GAME CHANGER DEVELOPMENT ASSETS IN THE UK North Sabah Marigold and Sunflower fields – First oil expected in 2028 Kinabalu Future Opportunities around Marigold: Marigold Asset Kildrummy and Crown Discoveries Marigold and Sunflower are located PM3 CAA north-east of Aberdeen, UK Ithaca Energy
Slide 45: Anasuria Cluster
ANASURIA CLUSTER North Sabah Teal West to produce first oil in CY2026 Kinabalu Average Net Oil and Gas Production Rate (boe/day) Teal West • Subsea tie-back installation PM3 CAA expected in second-half of 2,132 CY2025. 1,912 • First Oil scheduled for Q1 1,819 Vietnam CY2026. Fyne United Kingdom 1,04
Slide 46: Overview of Australia Assets
OVERVIEW OF AUSTRALIA ASSETS North Sabah Exposure to the prolific O&G producing province – Bass Strait Kinabalu Key Highlights Ownership Structure Direct Interest PM3 CAA 2013 2026 Direct Award Date Licence Expiry Interest 8.0 Vietnam 100.0% MMbbl Net 2C Oil Reserves Hibiscus United Kingdom VIC/P79
Slide 47: Overview of Brunei Darussalam Assets
OVERVIEW OF BRUNEI DARUSSALAM ASSETS North Sabah Exposure to LNG markets, backed by long term gas contract up to 2033 1 2039 Producing field PSC expiry Kinabalu 3.1 MMbbl 96.6 Bscf PM3 CAA Net 2P Oil Reserves Net 2P Gas Reserves 1.0 MMbbl 34.6 Bscf Vietnam Net 2C Oil Resources Net 2C Gas Resources O
Slide 48: Capital Allocation Framework
CAPITAL ALLOCATION FRAMEWORK Guiding principles assuming USD70 bbl Brent, selective and disciplined deployment CASHFLOW WATERFALL KEY PRINCIPLES CONTROL LEVERS Priority Spend Investment Criteria Target Criteria Funding 1 Debt Servicing Work program & Minimum Annual Dividend IRR ≥ 15% Internal cash 2
Slide 49: Profiles: Board of Directors
PROFILES: BOARD OF DIRECTORS Zainul Rahim bin Mohd Zain, Non-Independent Non-Executive Chairman • Appointed to the Board in December 2010. • Serves on the Boards of Standard Chartered Saadiq Berhad. • Previously Board member of Malaysian Dutch Business Council, UKM Holdings Sdn Bhd, Bank Pembangunan
Slide 50: Profiles: Board of Directors
PROFILES: BOARD OF DIRECTORS Dato’ Dr Zaha Rina Zahari, Independent Non-Executive Director • Appointed to the Board in September 2017. • More than 35 years of experience in financial (including Islamic), commodities and securities industry and the developing of the Malaysian Financial Market, M&A in
Slide 51: Profiles: Key Management
PROFILES: KEY MANAGEMENT Yip Chee Yeong, Chief Financial Officer • Joined Hibiscus in November 2013; previously VP Finance & Group Controller in Hibiscus. • Has over 30 years of accounting and finance experience in various industries, namely oil and gas, manufacturing, technology, services, risk con
Slide 52: Profiles: Key Management
PROFILES: KEY MANAGEMENT Chong Chee Seong, VP Strategic Ventures • Joined Hibiscus in December 2017 as COO of SEA Hibiscus Sdn Bhd and appointed CEO in March 2021 prior to assuming current role in January 2024. • Over 23 years work experience in the oil and gas industry, with experiences in surface
Slide 53: Profiles: Key Management
PROFILES: KEY MANAGEMENT Syarifah Aliza Syed Azauddin, VP Corporate Governance and Sustainability Reporting • Joined Hibiscus in September 2011; previously Senior General Manager, Corporate Finance, Secretarial and Regulatory Compliance prior to commencing current role. • Over 27 years of experience
Slide 54: Profiles: Key Management
PROFILES: KEY MANAGEMENT Dr Ambrose Gerard Corray, VP InfoTech & Digitalisation • Joined Hibiscus in January 2019. Previously consulted for Hibiscus from bid submission for North Sabah asset in 2016 through transition and transfer in March 2018. • Over 41 years oil and gas industry global experience
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