PT Medco Energi Internasional Tbk · IDX:MEDC
PT Medco Energi Internasional Tbk — Investor Presentation (January 2026)
45 slides from PT Medco Energi Internasional Tbk's investor presentation, January 2026
Slide 1: January 2026 Investor Presentation
January 2026 Investor Presentation PT Medco Energi Internasional Tbk (IDX: MEDC, OTCQX: MDCOY) | Jakarta, January 2026
Slide 2: Full Year 2025 Operational Update
Full Year 2025 Operational Update 2026 GUIDANCE Q4 2025 FY 2025 Oil & Gas Production 165-170 176 156 Oil: 47 | Gas: 129 Oil: 43 | Gas: 113 (mboepd) ✓ Within range ↑ 6-9% YoY Power Sales 4,550 1,183 4,371 (GWh) IPP: 887 | Renew: 296 IPP: 3,276 | Renew: 1,095 ↑ 4% YoY ↑ 2% vs guidance 2P Reserves: Inc
Slide 3: Investor Meetings
Investor Meetings Company Overview 4 Business Strategy 9 Nine-Month 2025 Highlights 23 2026 Guidance 30 Appendix: 32 Operational, Financial, and ESG Oyong Platform, Sampang PSC, East Java The following presentation has been prepared by PT Medco Energi Internasional Tbk. (“Company” or “MedcoEnergi”)
Slide 4: Company Overview
Company Overview 4 Belida Platform, Block B, Riau Islands
Slide 5: MedcoEnergi at a Glance
MedcoEnergi at a Glance Ownership, leadership and key metrics Ownership Structure1 Company Overview Medco Daya Abadi Lestari Diamond Bridge Others ~21% Indonesian gas production2 52.4% 21.9% 72% 25.7% Production sold under long-term gas contracts Market cap1: ~USD 2bn 52/48 Mix of indexed price and
Slide 6: Our Business Strategy is Delivering Long-Term Value
Our Business Strategy is Delivering Long-Term Value Medco has built a diversified energy and natural resources portfolio anchored in Southeast Asia and the Middle East Oil & Gas Power Copper & Gold Mining Production 155-160 Sales 4,300 Production 228 90 Guidance mboepd Guidance GWh IPP Power Sold Gu
Slide 7: A Growing, Diversified Energy Group
A Growing, Diversified Energy Group Delivering value through accretive Oil & Gas acquisitions and investments in Power and Mining OTCQX Listing Three core business lines Launched sponsored ADR on OTCQX: MDCOY Oil & Gas Power Copper & Gold Mining Growing horizons 2025 Oman acquisition, 2025 Corridor
Slide 8: Anchored in Indonesia, We Operate in Southeast Asia and The Middle East
Anchored in Indonesia, We Operate in Southeast Asia and The Middle Eas Diverse energy mix of Oil & Gas, Clean Power, and Copper & Gold Mining Assets Mexico Yemen Thailand Bualuang, Simenggaris Thailand Tarakan South Natuna West Bangkanai Block Onshore Receiving A Sea Block B Bangkanai Facility, Sing
Slide 9: Business Strategy
Business Strategy 9 Bualuang Platform, Thailand
Slide 10: Capitalizing on Growing Energy Demand and Regional Electrification
Capitalizing on Growing Energy Demand and Regional Electrification Building diversification and resilience for the long term Expanding successful Oil & Gas Investing in Clean & Renewable business model to support Power and in Copper & Gold ffordable growing energy demand A Mining to capture long-ter
Slide 11: Southeast Asian Economies Among the Fastest-Growing in the World
Southeast Asian Economies Among the Fastest-Growing in the World Indonesia is the most populous country in Southeast Asia and has one of the fastest-growing economies Indonesia’s share of global GDP1 set to nearly double by 2050 Hydrocarbons continue to grow; renewables take on a vital role 2 10 Ind
Slide 12: Acquisitions Support Growing Regional Energy Demand
Acquisitions Support Growing Regional Energy Demand Portfolio of sizeable high-margin, low-cost producing assets across Southeast Asia and the Middle East Track Record of Value-Accretive Acquisitions Medco’s Acquisition Criteria Targets Assets Which … Corridor PSC, USD 1,355mn, March 2022 Improve pr
Slide 13: Expanding Oil & Gas Business Supported by Accretive Acquisitions
Expanding Oil & Gas Business Supported by Accretive Acquisitions We continue to focus only on value- and credit-accretive acquisitions South Natuna Sea Corridor PSC, Sakakemang PSCs and Ophir Energy Plc Corridor PSC Oman 60 & 48 EPSA Block B PSC Transgasindo (TGI) (USD 544 Million) (USD 1,355 millio
Slide 14: Proven Ability to Extract Value from Acquisitions
Proven Ability to Extract Value from Acquisitions 105% Average Reserves Replacement Ratio on acquired assets Oil & Gas Production (mboepd) 2P Reserves Reserves1,2 and Resources as of 30 September 2025: 163 155 - 160 160 152 153 150 539 528 1P Reserves 364 MMBOE 481 493 50% 389 430 2P Reserves 528 MM
Slide 15: Investing in Gas & Renewable Power to Capture Long-term Growth
Investing in Gas & Renewable Power to Capture Long-term Growth New projects and expansions with larger scale and attractive economics Gas to Power Geothermal Solar PV Expanding footprint New greenfield development Pursuing projects with larger scale Completed Projects: Riau, 275 MW Sarulla, 330 MW S
Slide 16: MEDC 21% Shareholding in Amman Mineral (IDX: AMMN)
MEDC 21% Shareholding in Amman Mineral (IDX: AMMN) Highly undervalued investment with significant growth potential; market value MEDC 21% ~USD 6.6bn1 Metric Q3-25 Q2-25 QoQ % 9M-25 9M-24 YoY % Copper Gross Reserves & Resources Gold Gross Reserves & Resources (Moz) Production (Blbs) 31/12/2024 31/12/
Slide 17: Other Non-RG Business
Other Non-RG Business Supporting Oil and Gas operations with ownership of infrastructure and services • Ensures significant influence and/or control of essential supporting infrastructure and PT Transportasi 40% Donggi Senoro 11.1% PT Satria Raksa 100% services Gas Indonesia LNG Buminusa Pipeline LN
Slide 18: Enhancing Shareholder Returns with Disciplined Investment and Deleveraging
Enhancing Shareholder Returns with Disciplined Investment andDeleveraging Financial discipline has delivered competitive profitability and shareholder returns Proactive portfolio Repay acquisition management debt within 2-3 years High-grade Flexibility to fund capital new acquisitions opportunities
Slide 19: Strategy in a Low-Price Environment
Strategy in a Low-Price Environment Financial resilience through PSC structure, fixed-price gas and cost discipline Financial Strength Ensuring Stability EBITDA (USD mn) 96 80 • PSC Cost Recovery mechanisms prioritize return of 68 78 78 68 invested capital 1,593 40 1,255 1,272 • Medco operates the m
Slide 20: Outperforming Industry Peers
Outperforming Industry Peers Consistent execution has generated growth and value Relative Share Price 1 TSR vs Peers 2 through Sep 2025 • Acquisitions have significantly increased our size, 400% scale and cash generation capacity 300% • Enhanced financial strength enables us to quickly 200% repay de
Slide 21: Largest Private Indonesian Bond Issuer
Largest Private Indonesian Bond Issuer Consistently improving credit profile through the commodity - economic cycle Bond Price Chart Positive Credit Rating Trajectory Covid-19 Fed Rate Tightening “Liberation Day” 25 BB- BB- 20 B+ B+ B+ B B1 BB- BB- Yield to Maturity 15 B+ B B+ B2 10 B Ba3 B1 5 B2 0
Slide 22: Well-Executed Pricing with Subsequent Secondary Outperformance
Well-Executed Pricing with Subsequent Secondary Outperformance Steady Secondary Performance Since Launch Summary of Offering Terms Bid Price 110.00 Issuer Medco Cypress Tree Pte. Ltd. 105.75 105.00 Guarantor PT Medco Energi Internasional Tbk (“Medco”) 104.50 101.13 Format 144A / Reg S / 3(c)(7) 100.
Slide 23: Nine-Month 2025 Highlights
Nine-Month 2025 Highlights 23 Ijen Geothermal, East Java
Slide 24: Nine-Month 2025 Operating & Financial Highlights
Nine-Month 2025Operating & Financial Highlights EBITDA & Production & Capex & Net Income Consolidated Credit & RG Net Debt Power Sales Cash Cost & ROE & RG Debt ESG Ratings to EBITDA 150 297 86 3.7 946 Fitch S&P : BB- : BB- O&G: 276 Power: 21 mboepd USD mn USD mn USD bn USD bn Moody's : Ba3 2.0x 3,1
Slide 25: Focused Acquisitions
Focused Acquisitions Expanding Sumatra footprint and infrastructure Acquisition of 24% Corridor PSC Core South Sumatra Footprint • Ownership increased to 70% from 46% • Acquired 45% operating interest in Sakakemang PSC • USD 425mn purchase funded with 34% cash and 66% debt, • Increased effective int
Slide 26: Incremental Production Onstream
Incremental Production Onstream Production and value growth Corridor: Seismic and Suban re-wheeling Senoro-Toili: Phase 2A – South Senoro Development • Completed 365 km² of 3D seismic in Rebonjaro and Sumpal to • The project will maintain production plateau 110 - 150 mmscfd unlock future development
Slide 27: Incremental Production Onstream
Incremental Production Onstream Production and value growth Natuna: Forel oil and Terubuk gas fields Oman 60: Bisat-C Expansion and ABBN Development • Forel and Terubuk fields produce 20 mbopd and 60 mmscfd, ~30 • Completed Bisat-C Expansion and new production record of 77 mboepd1 mboepd, now levele
Slide 28: Additional Power Capacity
Additional Power Capacity Increasing Power footprint and scale Ijen Geothermal Phase I: 35 MW COD1 Q1 2025 East Bali Solar PV Phase I: 25 MWp COD Q2 2025 ELB Expansion: 39 MW COD Q4 2025 Bonjol Geothermal: Exploration Drilling 28 1 Commercial Operation Date
Slide 29: 2025 Guidance
2025 Guidance Oil & Gas Oil & Gas RG Net Debt Power Sales Capex ROE Production Cash Cost to EBITDA Nine-Month 2025 Financial Results 2.0x 150 3,188 297 8.8 USD 68 per boe 9 O&G: 276 Power: 21 2.1x mboepd GWh USD mn USD per boe Mid-cycle at USD 65 per boe Percent 2025 Guidance 155 - 160 4,300 430 < 1
Slide 30: 2026 Guidance
2026 Guidance 30 Corridor PSC, South Sumatera
Slide 31: 2026 Guidance
2026 Guidance Oil & Gas Oil & Gas RG Net Debt Power Sales Capex ROE Production Cash Cost to EBITDA 2025 Guidance 155 - 160 4,300 430 < 10 < 2.5 > 10 O&G: 400 Power: 30 mboepd GWh USD mn USD per boe Mid-cycle at USD 65 per boe Percent 2026 Guidance 165 - 170 4,550 400-430 < 10 O&G: 415 Power: 15 < 2.
Slide 32: Appendix
Appendix 32 Terubuk Platform, Block B, Riau Islands
Slide 33: Operational and Financial Performance
Operational and Financial Performance 33 Ijen Geothermal Power Facilities, East Java
Slide 34: Oil & Gas Operational Results
Oil & Gas Operational Results Monetizing resources value Metric Q3-25 Q2-25 Qo Q % 9M -25 9M -24 Yo Y % Oil & Gas Production (mboepd) Oil & Gas Cash Cost1 (USD/boe) Production Total (mboepd) 163 143 13.7 150 153 (2.3) 163 96 - Oil (mbopd) 45 42 7.7 42 42 0.5 160 155 - 160 152 153 150 78 78 80 - Gas
Slide 35: Power Operational Results
Power Operational Results Building scale and growing both Gas and Renewables IPPs Metric Q3-25 Q2-25 Qo Q % 9M -25 9M -24 Yo Y % IPP Power Sold, Gross 100%, GWh Gross Operating Installed Capacity, MW IPP Sold (GWh) 1,194 1,122 6.4 3,188 2,962 7.6 4,155 4,300 3,138 - Renewables (GWh) 302 254 19.2 799
Slide 36: Pulau Bulan Project
Pulau Bulan Project Export to a premium market with attractive returns Conditional License to import 600 MW to Singapore • One of the largest solar power projects in Southeast Asia • Building Indonesia’s capacity in PV and BESS • Pacific Medco Solar Energy consortium1 secured Conditional Approval in
Slide 37: Financial Results
Financial Results Financial resilience with strong EBITDA and liquidity Metric Q3-25 Q2-25 Qo Q % 9M -25 9M -24 Yo Y % EBITDA (USD mn) Restricted Group (RG) Debt (USD bn)1 Revenue (USD mn) 619 578 7.0 1,757 1,783 (1.5) - Oil and Gas (USD mn) 564 524 7.6 1,598 1,611 (0.8) 163 160 152 153 150 2.7 - Po
Slide 38: Delivering Shareholder Value
Delivering Shareholder Value Strong debt discipline and committed to increasing shareholder returns ROE vs Peers Relative 20231 Share 1Price Dividend History (IDR/share) Equity 45 41 • Outperforming both Brent and IDX LQ45 39 • Performance improvements justify dividend 28 24 29 25 growth 21 • Share
Slide 39: ESG Update
ESG Update 39 Sarulla Geothermal Power Facilities, North Sumatra
Slide 40: Tracking Our Climate Commitments and ESG Performance
Tracking Our Climate Commitments and ESG Performance E&P Scope 1&2 GHG Emissions1,3, million tCO2e AAA 30% reduction from Base Year 2019 AA AA ACHIEVED . A A A 5.4 4.8 4.6 4.4 4.2 3.8 20% 30% BBB BBB As of 2024, PT Medco Energi BB BB Internasional Tbk received 2019 2020 2021 2022 2023 2024 2025 2030
Slide 41: Sustainability Reporting
Sustainability Reporting Reports in accordance with the 2016 GRI Standards and its subsequent updates Improved quality of disclosure in our reporting by increasing the number of GRI performance indicators disclosed and assured by Ernst & Young year-on-year 2024 101 indicators 2023 96 indicators 2022
Slide 42: Board of Commissioners and Directors
Board of Commissioners and Directors Board of Commissioners Yani Panigoro Yaser Raimi A. Panigoro Marsillam Simanjuntak President Commissioner Commissioner Independent Commissioner Board of Directors Hilmi Panigoro Roberto Lorato Anthony R. Mathias Ronald Gunawan Amri Siahaan President Director Chie
Slide 43: Financial Statistics
Financial Statistics Q3 25 vs Q3 25 vs 9M 25 vs Metrics Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 9M 24 9M 25 Q3 24 ∆% Q2 25 ∆% 9M 24 ∆% Average Realized Price Oil 79.8 81.9 78.1 72.3 72.2 66.5 66.4 (14.9) (0.0) 79.9 68.3 (14.6) Gas 7.0 7.0 7.0 7.1 7.1 6.9 6.8 (2.9) (1.2) 7.0 6.9 (1.1) Revenue Conso
Slide 44: Investing in Copper Mining to Capture Long-term Growth in Electrification
Investing in Copper Mining to Capture Long -term Growth in Electrification World’s 5th largest copper-equivalent reserves, including established, low-cost Batu Hijau mine & Elang development project Batu Hijau mine Phase 7 3.0km diameter Phase 8 3.4km diameter Indonesia Phase 7 1,000m deep Phase 8 1
Slide 45: 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. [email protected] [email protected] Website : www.medcoenergi.com
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