Hibiscus Petroleum Bhd. · MYX:HIBISCS
Hibiscus Petroleum Bhd — Investor Presentation (August 2026)
63 slides from Hibiscus Petroleum Bhd's investor presentation, August 2026
Slide 1: Investor Presentation
• Bursa Malaysia Quality 50 Shariah Index • FTSE4Good Bursa Malaysia Shariah Index INVESTOR PRESENTATION Logo August 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: Structural Upsides for Asia's E&P Sector
STRUCTURAL UPSIDES FOR ASIA’S E&P SECTOR Magnitude of impact on Asia’s E&P activity due to ongoing conflicts, positive upsides for Hibiscus Source: Rystad Energy 3
Slide 4: 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 5: Hibiscus Today
@ Hisiscus Petroleum
Slide 6: 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 5 2P: 15.8 MMboe 2C: 64.2 MMboe 82 Producing Development MMboe assets opportunities Net 2P Reserves Vietnam 97% 2P: 19.9 MMboe 2C: 15.0 MMboe
Slide 7: Growing Dividend, Growing Returns
GROWING DIVIDEND, GROWING RETURNS Prioritising Returns To Shareholders Increasing Dividend Trend High priority within capital allocation framework 15 • Ranking after OPEX and debt servicing 6.0 • Dividends are paid on a quarterly basis Div. Yield (%) 13 4.3 Exceeded minimum dividend guidance in FY20
Slide 8: 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 1.45b 737.4m Market cap Total shares Retail Investors Institutional 33.3% Holdings 75% 3.5m 44
Slide 9: 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 10: Our Assets
® : i pS mm, aie: OUR ASSETS 8 Hieiscus Petroleum
Slide 11: On Track to Hit 35,000 boe/day in 2026
ON TRACK TO HIT 35,000 BOE/DAY 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 • Drilled a total of 10 wells Status Updates • No tax expected to be paid in • T
Slide 12: Asset Replenishment Record
ASSET REPLENISHMENT RECORD Successful reserves replacement, strong IRRs, & short payback periods Asset Replenishment Record (MMboe) Anasuria North Sabah Peninsula Hibiscus Cluster Reserves Replacement Reserves Replacement Ratio 2017 - 2024: Ratio 2024 - 2025: 201% 283% 2016 2018 2022 13.6 Total Net
Slide 13: 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 13.8 - Kinabalu PSC Malaysia 5.3 - PM3 CAA PSC Malaysia-Vietnam CAA 6.1 13.8 Anasuria Cluster United Ki
Slide 14: 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 and Strong uptick in gas sales post acquisition of PM3 CAA PSC in January 2022 and
Slide 15: Operational Excellence
OPERATIONAL EXCELLENCE Track record in increasing uptime and enhancing production of assets Previous Operator Hibiscus Previous Operator Hibiscus 94% 97% Gross Production 25 91% 92% 92% 93% 92% 90% 91% 92% 100 North Sabah 86% 90% 89% 90% 93% 96% 95% Peninsula Gross Production 20 80 92% 91% (kbbl/d)
Slide 16: Transitioning Towards Net Zero 2050
TRANSITIONING TOWARDS NET ZERO 2050 MSCI ESG RATINGS A Membrane Roadmap to reduce 50% of GHG Scope 1 and 2 Phase 1 Membrane Phase 2 -22% Emissions by FY2030 Flare Tip Replacement Membrane Equipment Net Scope 1 + 2 Phase 2 Reliability/ -46% Process Fuel Cell, -50% Improvements Debottlenecking CCUS So
Slide 17: Awards & Recognition (1)
AWARDS & RECOGNITION (1) Prime Minister’s Bursa Malaysia Quality Investors in People (IIP) Awards Hibiscus Award (PMHA) 50 Index Exceptional Achievement in Listed in the newly created IIP Gold Award received in March 2026 by Environmental Performance for our • Bursa Malaysia Quality 50 Index (BMQ) A
Slide 18: Awards & Recognition (2)
AWARDS & RECOGNITION (2) Forbes Asia’s The Edge Billion Ringgit Club Fortune Southeast Asia 500 List Best Under A Billion 2025 List (BRC) Awards • Included in Fortune Southeast Asia 500 • Recognised as 1 out of 9 Malaysian • Received a corporate award for the list for the third year in a row in 2026
Slide 19: Financial Highlights
FINANCIAL HIGHLIGHTS HiBiscu
Slide 20: P&L Highlights
P&L HIGHLIGHTS Revenue > RM2 bil since FY23, EBITDA > RM1 bil since FY22 Revenue (RM million) EBITDA (RM million) 630 308 244 274 573 544 518 209 433 191 1,321 1,270 2,716 3QFY25 4QFY25 1QFY26 2QFY26 3QFY26 3QFY25 4QFY25 1QFY26 2QFY26 3QFY26 1,083 2,345 2,333 1,007 1,697 549 213 381 334 988 805 156
Slide 21: 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 22: Maintaining Strong EBITDA Margins
MAINTAINING STRONG EBITDA MARGINS PM3 CAA NORTH SABAH KINABALU 70 100% 100 100% 140 100% 90% 90 94 95 90% No No 90% 60 65 120 80% 80 90 80% offtake offtake 84 121 80% 50 54 70% 70 78 79 78 70% 100 in this in this 70% 51 52 73 73 74 101 49 47 60% 60 69 60% quarter quarter 60% 40 45 45 80 92 50% 50 57
Slide 23: Strong Past 5-Year Growth
STRONG PAST 5-YEAR GROWTH Exceeding 20% CAGR in production, operating cashflows and EBITDA over five years Daily Production (kboe/d) 2P Reserves (MMboe) 2C Resources (MMboe) CAGR 26 CAGR 88 CAGR +24% +13% +8% 110 47 74 9 FY2021 FY2025 FY2021 FY2025 FY2021 FY2025 Revenue (RM m) EBITDA (RM m) Total As
Slide 24: Growth Plan
GROWTH PLAN @ Hisiscus Petroleum
Slide 25: 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 26: 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 26
Slide 27: Thrust 1: Doubling to 70,000 boe/day by 2030
THRUST 1: DOUBLING TO 70,000 BOE/DAY BY 2030 2X GROWTH • SF30 Waterflood Phase 2 (Malaysia) 2026 Mission: On Track • Block B MLJ Asset LPC Project (Brunei) 2030 Mission ➢ Daily production of 35,000 70,000 • Teal West Development (UK) • PKNB FDP Approval – 2C to 2P boe/day ➢ 2P reserves of 100 MMboe
Slide 28: 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 29: 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 30: Growth Pillar: Expansion Within Brunei
GROWTH PILLAR 2 : EXPANSION WITHIN BRUNEI Unlocks future opportunities in a well-established oil and gas jurisdiction Rystad Projects 45% Decline ~29 years1 of Remaining 2C Unlocking Block B MLJ JV in Production by 2035 Resource Life Opportunities Partners Immediate objective: to be Exploited 2015:
Slide 31: Thrust 2: Energy Transition Initiatives
THRUST 2: ENERGY TRANSITION INITIATIVES Leveraging on our competencies to operate and maintain decentralised power generation Our Group generates 126 MW of power offshore across our assets1 • We will transfer this know-how to address electricity generation specifically to support data centres or sem
Slide 32: 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 33: Fundamentals Not Reflected in Share Price
FUNDAMENTALS NOT REFLECTED IN SHARE PRICE
Slide 34: 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) Consensus* 7.2 5.9 25.5 2.8 5.8 18.7 2.0 2.0 Hibiscus Peer Average Hibiscus Peer Average Hibiscus Peer Average Hibiscus Analysts' TP Consensus Our market valuation is si
Slide 35: 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 @ 31 March 2026 of RM3.71 Unique platform with attractive portfolio of SEA assets Successful highly scalable acquisition and enhan
Slide 36: Investment Merits
INVESTMENT MERITS Growth target supported by untapped resources and strong capital position to support development On track to hit 35,000 boe/day daily production rate by 2026 and 2P reserves of 100 MMboe with identified opportunities in the pipeline for further growth. Growth Story Strategy to hit
Slide 37: Thank You
THANK YOU For more information, please contact faq@hibiscuspetroleum.com
Slide 38: Appendices
APPENDICES ws
Slide 39: FY2025 & FY2026 Guidance Snapshot
FY2025 & FY2026 GUIDANCE SNAPSHOT • FY2025 Sales Guidance Achieved • FY2025 Dividend Guidance Surpassed • On Track To Achieve FY2026 Dividend Guidance FY2025 FY2026 Guidance Guidance Actual Sales Volume 8.6 to 9.1 MMboe 8.9 MMboe 9.0 – 9.4 MMboe Production N/A 9.0 MMboe 9.1 – 9.5 MMboe OPEX N/A ~USD
Slide 40: FY2025 Operational Summary by Asset
FY2025 OPERATIONAL SUMMARY BY ASSET Block 46 Cai PM3 CAA North Sabah Kinabalu Block B MLJ Anasuria Cluster Total or Average Nuoc Average uptime % 93 92 81 91 76 93 - Average gross oil & condensate bbl/day 17,542 12,771 6,679 2,087 4,859 296 44,234 production Average net oil & condensate bbl/day 3,11
Slide 41: FY2025 Profit or Loss (by Segment)
FY2025 PROFIT OR LOSS (BY SEGMENT) Peninsular Malaysia Sabah Malaysia Total United RM'000 PM305 and Brunei Vietnam Others1 PM3 CAA PKNB PM327 Subtotal North Sabah Kinabalu Subtotal Kingdom (HPB Group) PM314 Revenue 809,706 7,845 - - 817,551 625,392 309,475 934,867 205,448 303,138 56,506 15,372 2,332
Slide 42: 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 43.5 50%^ 2P Oil 9.3 MMbbl | 2P Gas 1.0 MMboe Fyne 42.5% 2C Oil 4.0 MMbbl MMbbl Block B MLJ Teal West 37.5% 2P Oil 3.4 MMbbl | 2P Gas 24.0 M
Slide 43: 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 13.8 4.9 PM3 CAA MMbbl MMbbl Net 2P Oil Reserves Net 2C Oil Resources Vietnam Ownership Structure Off-ta
Slide 44: North Sabah PSC
NORTH SABAH PSC North Sabah Average Net Oil Production Rate (bbl/day) SF30 Water Flood Phase 2 Kinabalu • Drilled a total of 10 wells (5 oil producers & 5 water injectors) PM3 CAA • Refurbished topside installed 4,875 4,803 4,916 • Water injection facility to be delivered in 4,767 4,736 CY2026 • 2HC
Slide 45: 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 5.3 MMbbl 0.8 MMbbl Net 2P Oil Reserves Net 2C Oil Resources PM3 CAA Ownership Structure
Slide 46: Kinabalu PSC
KINABALU PSC North Sabah Average Net Oil Production Rate (bbl/day) Kinabalu 3,363 PM3 CAA 3,170 3,055 2,591 2,368 Vietnam United Kingdom Brunei Darussalam 3QFY25 4QFY25 1QFY26 2QFY26 3QFY26 46
Slide 47: 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 6.1 MMbbl 13.8 MMboe Kinabalu Producing fields Production Start Date Net 2P Oil Reserves Net 2P Gas Reserves 2 2047 5.5 9.5 PM3 CAA MMbbl MMboe Exploration field
Slide 48: PM3 CAA PSC
PM3 CAA PSC Stable gas lift operations and successful well work activities North Sabah Licence Granted Under Average Net Oil and Gas Production Rate (boe/day) Enhanced PSC & UGSA Terms Kinabalu • PSC expiry (at the time of 11,968 acquisition): 2027; PSC previously 11,151 extended from 2018 to 2027 P
Slide 49: 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 50: 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 9.3 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 51: Further Opportunities at the Anasuria Cluster
FURTHER OPPORTUNITIES AT THE ANASURIA CUSTER Strong growth opportunities through our 100% owned development asset – Teal West North Sabah Kinabalu Exciting Tie back opportunity in Teal West PM3 CAA July Sep 2023 2023 Vietnam Environmental Final Investment Statement (ES) was Decision (FID) was approv
Slide 52: 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 53: Anasuria Cluster
ANASURIA CLUSTER Teal West to produce first oil in CY2026 North Sabah Average Net Oil and Gas Production Rate (boe/day) Teal West Kinabalu • First Oil achieved on 4 July 2026 2,132 2,123 • 2HCY2026 net production: PM3 CAA ~6kbbl/day 1,821 1,696 Vietnam 1,989 1,985 United Kingdom 1,649 1,609 698 Fyne
Slide 54: 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 3.4 MMbbl 24.0 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 55: Brunei Darussalam Assets
BRUNEI DARUSSALAM ASSETS North Sabah Low Pressure Compression (LPC) Average Net Condensate and Gas Production Rate (boe/day) Project Kinabalu • HSE: Project achieved the 2- million manhour Lost Time 6,952 Injury (LTI)-free milestone in PM3 CAA 760 Mar 2026 5,460 5,459 • Commenced operations in April
Slide 56: Delivering Reserves, Converting Resources
DELIVERING RESERVES, CONVERTING RESOURCES CAPEX (USD m) ASSETS KEY PROJECTS FY2026 FY2027 Malaysia-Vietnam: PM3 CAA 34 48 Bunga Aster Appraisal Well (1) and Infill/Exploration Wells (3) Malaysia: North Sabah 13 8 SF30 Waterflood Phase 2 Malaysia: Kinabalu 18 40 Redevelopment Project Malaysia: PKNB 5
Slide 57: 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 58: 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 59: 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 36 years of experience in financial (including Islamic), commodities and securities industry and the developing of the Malaysian Financial Market, M&A in
Slide 60: 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 61: 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 62: 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 63: 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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