Hibiscus Petroleum Bhd. · MYX:HIBISCS
Hibiscus Petroleum Bhd — Investor Presentation (September 2026)
56 slides from Hibiscus Petroleum Bhd's investor presentation, September 2026
Slide 1: Investor Presentation
• Bursa Malaysia Quality 50 Shariah Index • FTSE4Good Bursa Malaysia Shariah Index INVESTOR PRESENTATION Logo September 2026 www.hibiscuspetroleum.com www.hibiscuspetroleum.com R1
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: Ongoing Middle East Turmoil's Impact to Hibiscus
ONGOING MIDDLE EAST TURMOIL’S IMPACT TO HIBISCUS Hibiscus is well-positioned to capitalise from current market conditions Increasing Production Maintaining Cost Discipline ▪ Focus on opportunities to: ▪ Capitalise on contracts which were executed • Immediately increase gas production under low oil p
Slide 4: Hibiscus Today
@ Hisiscus Petroleum
Slide 5: Diversified Asset Base with Balanced O&G Exposure
DIVERSIFIED ASSET BASE WITH BALANCED O&G EXPOSURE Assets in well-established regions; production with development upside; oil and gas balance United Kingdom 5 3 2P: 15.6 MMboe 2C: 64.2 MMboe 77 Producing Development MMboe assets opportunities Net 2P Reserves Vietnam 98% 2P: 17.1 MMboe 2C: 14.6 MMboe
Slide 6: Shareholding Structure
SHAREHOLDING STRUCTURE A truly public, Shariah-compliant company with actively traded stock Actively Traded Counter1 Broad-based Ownership2 • Strong increase in institutional holdings over last 3 months RM 1.62b 737.4m Market cap Total shares Retail Investors 32.8% Institutional Holdings 75% 3.1m 44
Slide 7: Growing Dividend, Growing Returns
GROWING DIVIDEND, GROWING RETURNS Prioritising Returns To Shareholders Increasing Dividend Trend High priority within capital allocation framework • Ranking after OPEX and debt servicing Dividend Guidance • Dividends are paid on a quarterly basis 10.0 On track to achieve a total of 10.0 sen/share fo
Slide 8: Leadership Team
LEADERSHIP TEAM Board of Directors Zainul Rahim bin Dato’ Dr Kenneth Dato’ Sri Roushan Thomas Michael Taylor Dato’ Dr Zaha Rina Emeliana Dallan Zaidah binti Ibrahim Mohd Zain Gerard Pereira Arumugam Senior Independent Non- binti Zahari Rice-Oxley Independent Non- Non-Independent Non- Managing Direct
Slide 9: Our Assets
® : i pS mm, aie: OUR ASSETS 8 Hieiscus Petroleum
Slide 10: Key Projects in 2026
KEY PROJECTS IN 2026 Increasing production through 3 key projects UK: Brunei: Malaysia: Teal West Development Low-Pressure Compressor Project SF30 Waterflood Phase 2 • Achieved first oil on 4 July 2026 • No tax expected to be paid in • Drilled a total of 10 wells FY2026, due to available capital Sta
Slide 11: Asset Replenishment Record
ASSET REPLENISHMENT RECORD Successful reserves replacement, strong IRRs, & short payback periods Asset Replenishment Record (MMboe) Anasuria North Sabah Peninsula Hibiscus Reserves Replacement Reserves Replacement Cluster Ratio 2017 - 2024: Ratio 2024 - 2026: 201% 207% 2016 2018 2022 18.3 37.8 Total
Slide 12: 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) 2020 2025 2030 2035 2040 2045 2050 North Sabah PSC Malaysia 12.8 - Kinabalu PSC Malaysia 4.8 - PM3 CAA PSC Malaysia-Vietnam CAA 5.2 11.9 Anasuria Cluster United Ki
Slide 13: Operational Metrics
OPERATIONAL METRICS Production and sales have risen through a series of strategic acquisitions Net Oil Sales (MMbbl) Net Gas Sold (MMboe) Steady growth in net oil and condensate sales driven by strategic acquisitions Strong uptick in gas sales post acquisition of PM3 CAA PSC in January and targeted
Slide 14: Operational Excellence
OPERATIONAL EXCELLENCE Track record in increasing uptime and enhancing production of assets Previous Operator Hibiscus Previous Operator Hibiscus 94% 100 97% Gross Production 25 91% 92% 92% 93% 92% 90% 91% 90% 92% 90% North Sabah 86% 90% 89% 96% 93% 95% Gross Production Peninsula 20 80 92% 91% 88% 8
Slide 15: GHG Reduction Roadmap
GHG REDUCTION ROADMAP 50% GHG Reduction And Zero Routine Flaring/ Venting By 2030 Roadmap to reduce 50% of GHG Scope 1 and 2 Emissions by FY2030 Membrane Membrane Note: Figures are Net Scope 1 and 2 based on equity Phase 1 Phase 2 Flare Tip Replacement -22% Membrane Equipment Net Scope 1 + 2 Phase 2
Slide 16: Awards & Recognition (1)
AWARDS & RECOGNITION (1) Bursa Malaysia Investor Prime Minister’s Bursa Malaysia Quality Relations (IR) Awards 2026 Hibiscus Award (PMHA) 50 Index Best Company in IR by Sector (Mid & Exceptional Achievement in Listed in the newly created Small Cap) Energy, voted by fund Environmental Performance for
Slide 17: Awards & Recognition (2)
AWARDS & RECOGNITION (2) The Edge Billion Ringgit Club Fortune Southeast Asia 500 List Investors in People (IIP) Awards (BRC) Awards • Included in Fortune Southeast Asia 500 IIP Gold Award received in March 2026 by • Received a corporate award for the list for the third year in a row in 2026 Anasuri
Slide 18: Financial Highlights
FINANCIAL HIGHLIGHTS HiBiscu
Slide 19: P&L Highlights
P&L HIGHLIGHTS Revenue > RM2 bil since FY23, EBITDA > RM1 bil since FY22 Revenue (RM million) EBITDA (RM million) 400 846 244 274 630 544 209 518 191 433 1,321 4QFY25 1QFY26 2QFY26 3QFY26 4QFY26 1,270 2,716 1,108 4QFY25 1QFY26 2QFY26 3QFY26 4QFY26 1,083 2,345 2,333 2,342 1,007 1,697 549 213 381 334
Slide 20: 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 cash position to support CAPEX ne
Slide 21: Maintaining Strong EBITDA Margins
MAINTAINING STRONG EBITDA MARGINS PM3 CAA NORTH SABAH KINABALU 80 100% 120 100% 140 100% 70 76 90% 90% No No 90% 120 80% 100 104 80% 121 offtake offtake 123 80% 60 65 70% 94 95 70% 100 in this in this 70% 80 90 101 50 54 60% 84 60% quarter quarter 60% 51 52 78 79 78 80 92 49 47 73 73 74 83 40 45 45
Slide 22: Strong Past 6-Year Growth
STRONG PAST 6-YEAR GROWTH Exceeding 20% CAGR in production, operating cashflows and EBITDA over six years Daily Production (kboe/d) 2P Reserves (MMboe) 2C Resources (MMboe) CAGR 25 CAGR CAGR 77 122 +23% +10% +11% 47 74 9 FY2021 FY2026 FY2021 FY2026 FY2021 FY2026 Adjusted Operating Revenue (RM m) EBI
Slide 23: Growth Plan
GROWTH PLAN @ Hisiscus Petroleum
Slide 24: Potential Timely Entry of Strategic Investors
POTENTIAL TIMELY ENTRY OF STRATEGIC INVESTORS Ongoing discussions with reputable parties to further capitalise on current bullish O&G market OBJECTIVES Access To Potential Asset Opportunities Access To Funding Availability of high-quality assets Ability to pursue larger-scale opportunities PLATFORM
Slide 25: Pursuing Growth & Sustainable Horizons: 2030 Mission
PURSUING GROWTH & SUSTAINABLE HORIZONS 2030 MISSION THRUST 1 THRUST 2 OIL & GAS REMAINS ENERGY TRANSITION AS CORE BUSINESS INITIATIVES Setting Up A Robust Generating Stable Platform For Growth Cashflows 25
Slide 26: 70,000 boe/day by 2030
70,000 BOE/DAY BY 2030 2030 Mission 70,000 Completed Catalysts bridging 50kboe/d to 70kboe/d • Block B MLJ Asset LPC Project (Brunei) ➢ Growth plans in Brunei • Teal West Development (UK) 20,000 ➢ M&A potentially funded by entry of Daily Production (boe/day) In progress • SF30 Waterflood Phase 2 (Ma
Slide 27: Malaysia Growth Plan
MALAYSIA GROWTH PLAN PM3 CAA 20-year extension – a key enabler of the PM3 Master Hub Plan PKNB Cluster PSC (Development) PM3 CAA (Production) 4 Discovered Gas Fields Operated interest Platforms Substantial gas resources with tie-back 35% 14 opportunities to existing PM3 CAA infrastructure PSC extend
Slide 28: 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 oil development 26.0 2C Resources: MMboe* CCS 13.4 Bunga Orkid • To commence injection by MMboe Q42028 *a
Slide 29: Growth Pillar: Expansion Within Brunei
GROWTH PILLAR 2 : EXPANSION WITHIN BRUNEI Unlocks future opportunities in a well-established oil and gas jurisdiction Rystad Projects ~47% Decline ~30 years1 of Remaining 2C Unlocking Block B MLJ JV in Production by 2036 Resource Life Opportunities Partners to be Exploited 2016: ~350k boepd • Tappin
Slide 30: Energy Transition Initiatives to Complement Core Business
ENERGY TRANSITION INITIATIVES TO COMPLEMENT CORE BUSINESS Investing in solar projects solely for internal Leveraging on our competencies to operate use to reduce OPEX on our assets and maintain decentralised power generation • Construction of a 12MW solar PV farm in Brunei Our Group generates 126 MW
Slide 31: Driving Growth Through Disciplined Capital Allocation & OPEX/boe Reduction
DRIVING GROWTH THROUGH DISCIPLINED CAPITAL ALLOCATION & OPEX/BOE REDUCTION Maintaining Disciplined Capital Allocation Reducing OPEX/boe Capital allocation framework in place Increase in operations: Priority Spend Value Accretive Economies of scale and reduced costs • Debt servicing Acquisitions • Mi
Slide 32: Fundamentals Not Reflected in Share Price
FUNDAMENTALS NOT REFLECTED IN SHARE PRICE
Slide 33: A Compelling Entry Point Relative to Peers
A COMPELLING ENTRY POINT RELATIVE TO PEERS EV/Production Analysts’ Target Price (TP) EV/2P (USD/boe) EV/EBITDA (x) (USD’000/boepd) Consensus1 7.4 4.5 2.8 26.0 5.2 2.1 15.5 1.4 Hibiscus Peer Average Hibiscus Peer Average Hibiscus Peer Average Hibiscus Analysts' TP Consensus Our market valuation is si
Slide 34: Significant Discount to Company and Asset Value
SIGNIFICANT DISCOUNT TO COMPANY AND ASSET VALUE Share price is not reflective of tangible and intangible value of Hibiscus Discount even against the book value per share @ 30 June 2026 of RM3.97 Unique platform with attractive portfolio of SEA assets Successful highly scalable acquisition and enhanc
Slide 35: Investment Merits
INVESTMENT MERITS Growth target supported by untapped resources and strong capital position to support development Strategy to hit 70,000 boe/day and 2P reserves of 150 MMboe through our 2030 Mission, with Malaysia and Growth Story Brunei as growth hubs, underpinned by ~15 years of reserves & resour
Slide 36: Thank You
THANK YOU For more information, please contact faq@hibiscuspetroleum.com
Slide 37: Appendices
APPENDICES ws
Slide 38: FY2026 & FY2027 Guidance Snapshot
FY2026 & FY2027 GUIDANCE SNAPSHOT • FY2026 Sales & Production Guidance Achieved • FY2026 Dividend Exceeded Minimum Guidance FY2026 FY2027 Guidance Guidance Actual Sales Volume 9.0 – 9.4 MMboe 9.3 MMboe 10.7 – 11.2 MMboe Production 9.1 – 9.5 MMboe 9.4 MMboe 10.7 – 11.2 MMboe OPEX ~USD20-25/boe ~USD22
Slide 39: FY2026 Operational Summary by Asset
FY2026 OPERATIONAL SUMMARY BY ASSET Block 46 Cai PM3 CAA North Sabah Kinabalu Block B MLJ Anasuria Cluster Total or Average Nuoc Average uptime % 90 90 83 89 65 90 - Average gross oil & condensate production bbl/day 15,418 12,854 7,379 1,897 3,339 326 41,213 Average net oil & condensate production b
Slide 40: FY2026 Profit or Loss (by Segment)
FY2026 PROFIT OR LOSS (BY SEGMENT) Peninsular Malaysia Sabah Malaysia United Total RM'000 Brunei Vietnam Others1 PM3 CAA PM305 PKNB PM327 Subtotal North Sabah Kinabalu Subtotal Kingdom (HPB Group) Revenue 790,688 - - - 790,688 604,050 332,084 936,134 173,739 440,584 (11,928) 12,553 2,341,770 Cost Of
Slide 41: 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 70% Anasuria Cluster 2P Oil 0.1 MMbbl 40.4 50%^ 2P Oil 9.1 MMbbl | 2P Gas 1.0 MMboe Teal West 100% MMbbl 2P Oil 5.5 MMbbl | 2C Oil 3.6 MMbbl Block B MLJ Fyne 37.5% 2P Oil 2.9 MMb
Slide 42: Overview of North Sabah PSC
OVERVIEW OF NORTH SABAH PSC Asset includes the Labuan Crude Oil Terminal which processes 50K oil barrels per day North Sabah 4 1979 2040 Kinabalu Producing fields Production Start Date PSC expiry 12.8 2.3 PM3 CAA MMbbl MMbbl Net 2P Oil Reserves Net 2C Oil Resources Vietnam Ownership Structure Off-ta
Slide 43: Overview of Kinabalu PSC
OVERVIEW OF KINABALU PSC Low-cost liquids producing asset with ongoing redevelopment projects; close proximity with North Sabah North Sabah 3 1997 2032 Producing fields Production Start Date PSC expiry Kinabalu 4.8 MMbbl 0.7 MMbbl Net 2P Oil Reserves Net 2C Oil Resources PM3 CAA Ownership Structure
Slide 44: Overview of PM3 CAA PSC
OVERVIEW OF PM3 CAA PSC A low-cost producing asset with long production history; possesses material future developments North Sabah 7 1997 5.2 MMbbl 11.9 MMboe Kinabalu Producing fields Production Start Date Net 2P Oil Reserves Net 2P Gas Reserves 2 2047 5.5 9.1 PM3 CAA MMbbl MMboe Exploration field
Slide 45: Overview of Block Cai Nuoc PSC
OVERVIEW OF BLOCK 46 CAI NUOC PSC Producing field is tied back to PM3 CAA’s facilities with potential to unlock undeveloped Hao Mai field North Sabah 1 2003 2027 Kinabalu Producing field Production Start Date PSC expiry 1 0.1 PM3 CAA MMbbl Development field Net 2P Oil Reserves Vietnam Ownership Stru
Slide 46: Overview of Anasuria Cluster
OVERVIEW OF ANASURIA CLUSTER Prominent location in the North Sea North Sabah 4 1996 2035 Producing fields Production Start Date Economic Life Kinabalu 9.1 MMbbl 1.0 MMboe Net 2P Oil Reserves Net 2P Gas Reserves PM3 CAA Effective Ownership Offtake Agreement with Vietnam Asset Name Asset Type Hibiscus
Slide 47: Potential Game Changer Development Assets in the UK
POTENTIAL GAME CHANGER DEVELOPMENT ASSETS IN THE UK Marigold and Sunflower fields – First oil expected in 2030 North Sabah Future Opportunities around Marigold: Kinabalu Marigold Asset Kildrummy and Crown Discoveries Marigold and Sunflower are located Caldera Petroleum north-east of Aberdeen, UK 8.7
Slide 48: Overview of Brunei Darussalam Assets
OVERVIEW OF BRUNEI DARUSSALAM ASSETS Exposure to LNG markets, backed by long term gas contract up to 2033 North Sabah 1 2039 Producing field Concession expiry Kinabalu 2.9 MMbbl 23.6 MMboe Net 2P Condensate Reserves Net 2P Gas Reserves PM3 CAA 0.2 MMbbl 2.0 MMboe Net 2C Condensate Resources Net 2C G
Slide 49: Delivering Reserves, Converting Resources
DELIVERING RESERVES, CONVERTING RESOURCES CAPEX (USD m) ASSETS KEY PROJECTS FY2027 Pipeline upgrade, Bunga Aster & Saffron Development, Bunga Yarrow & Malaysia-Vietnam: PM3 CAA 52 Butang Exploration Malaysia: North Sabah 14 St Joseph Gas Reinjection System, SF30 Waterflood Phase 2 Malaysia: Kinabalu
Slide 50: Capital Allocation Framework
CAPITAL ALLOCATION FRAMEWORK 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 budget phasing as 2 Production Payback ≤5 year
Slide 51: 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 Board of Standard Chartered Saadiq Berhad. • Previously Board member of Malaysian Dutch Business Council, UKM Holdings Sdn Bhd, Bank Pembangunan
Slide 52: 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 37 years of experience in financial (including Islamic), commodities and securities industry and the developing of the Malaysian Financial Market, M&A in
Slide 53: Profiles: Key Management
PROFILES: KEY MANAGEMENT Yip Chee Yeong, Chief Financial Officer • Joined Hibiscus in November 2013; previously VP Finance & Group Controller in Hibiscus. • Over 31 years of accounting and finance experience in various industries, namely oil and gas, manufacturing, technology, services, risk consult
Slide 54: Profiles: Key Management
PROFILES: KEY MANAGEMENT Lai Wai Peng, SVP International Assets • Joined Hibiscus in March 2023. • Over 24 years’ experience in the oil and gas industry with proven track record of establishing, creating value and monetising successful operated upstream oil and gas company. • Worked in diverse roles
Slide 55: Profiles: Key Management
PROFILES: KEY MANAGEMENT Justin Chow, Group General Counsel • Joined Hibiscus in December 2025. • Over 20 years’ experience in the oil & gas industry, with deep expertise in regulatory compliance, complex litigation, high-value contract negotiations, and strategic legal advisory to executive leaders
Slide 56: Profiles: Key Management
PROFILES: KEY MANAGEMENT Noor Ashiah Yang, VP Group Human Capital • Joined Hibiscus in February 2023. • Over 27 years’ experience in various areas of human capital namely organisational development, talent management, reward and compensation, employee engagement/industrial relation, corporate govern
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