RH Petrogas LimitedBuilding Resilience, Charting Forward

19 November 2018

Corporate Overview• Listed on the mainboard of SGX

• Ticker code: T13 (SGX), RHP SP (Bloomberg)• Share price (16/11/18): S$0.090 per share • No of shares outstanding: 734 MM• Market cap: S$66 MM• Free float: ~35%

• O&G upstream pure play with a diversified portfolio in the full oil and gas cycle

• Asset profile

Basin PSC Island PSC Fuyu 1 PSC SK 331 PSC

Area 872 km2 1,097 km2 255 km2 8,309 km2

Working Interest 60% 33.2% 49% 40.8%

Operator RHPPetroChina and

PertaminaRHP RHP*

PartnersPetroChina (30%)Pertamina (10%)

PetroChina (16.8%)Pertamina (50%)

CNPC (51%)Petronas Carigali

(20%)

* Operated by RHP (Mukah) Pte Ltd, a subsidiary which is 51% owned by RHP and 49% owned by Tumbuh Tiasa Enterprises S/B

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Oil-based Reserves and Resources

MMBOE Net 2P Net 2C

Indonesia 4.0 34.1

China 12.9 14.3

Total 16.9 48.4

2P+2C(67% oil, 33% gas)

25%

42%

1%

32%

2P Oil

2C Oil

2P Gas

2CGas

3

12

20 20

18

17

-

5

10

15

20

25

End 2013 End 2014 End 2015 End 2016 End 2017

Net 2P Reserves*, MMBOE2P-Gas

2P-Oil

Series4

As at 1 Jan 2018*

*Figures were certified by independent qualified person

Proven Operating Record

4

0

1,000

2,000

3,000

4,000

5,000

2012 2013 2014 2015 2016 2017

Production, BOEPD

• Net Production from Basin and Island PSCs has maintained relatively stable at around 4,000 BOEPD level over the years through production optimization strategiesincluding workover, infill drilling, EOR to counter natural field decline

• Implementation of integrated subsurface and EOR strategies to further evaluate field potential

• Cost reduction strategies continued via contract renegotiations, streamlining of business processes

28

32

30

29

25

29

20

22

24

26

28

30

32

34

2012 2013 2014 2015 2016 2017

Production cost, US$/BBL

Diversified Oil & Gas Portfolio

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Fuyu 1 PSC• Started small scale

production from 14 of the 29 development wells drilled in 2014/2015

• Has produced and sold 8,100 barrels of oil to-date as of Oct 2018

Fuyu 1 PSC

Fuyu 1 PSC

Jilin, China

West Papua, Indonesia

Island PSCBasin PSC

Sarawak, Malaysia

SK 331 PSCSingapore

ProductionDevelopmentExploration

SK 331 PSC• Completed

comprehensive G&G study over entire block

• Further extension of PSC exploration period to 5 December 2019

• To acquire new 2D seismic in lieu of exploration well commitment.

• Seismic contract awarded in Oct 18.

• Relinquishment of approximately 28% of the acreage

Island PSC• Renegotiated FPSO rates

to extend TBA economics

Basin PSC• Conducted pilot

integrated subsurface study over Walio field

• Workover of 6 wells with encouraging results

• Conducted EOR tests at selected wells

• Concluded agreements for increased gas sales

• Cost control measures implemented

Renewed PSCs Post 2020

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• New 20-year PSCs for the Basin PSC and IslandPSC post 2020 signed in July 2018

• PSCs under the new Gross Split Schemeimplemented in Indonesia in 2017

• RHP awarded participating interest of 70% andPertamina will hold the balance 30% for bothblocks

• RHP retained Basin PSC operatorship andappointed new operator for Island PSC

• Operational and cost synergies for the contiguousblocks

• 5-year work commitment for exploration anddevelopment activities with financial value ofUS$98 MM (gross)

• Upcoming QPR to reflect reserve upgrade

Financial Update 9M 2018

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9M 2018 9M 2017

Realised Oil Price* (US$/barrel) 71 52

EBITDAX, US$ MM 7.6 8.5

Net Profit, US$ MM 2.4 2.7

Operating Cash Flow, US$ MM 2.5 8.5

External Debt Nil Nil

* Realised Oil Price for Indonesian assets

Deepening our Capabilities and Planning for Growth

• Outlook and Strategies Developing work strategies and programs for new 20-year term of the Basin

PSC and Island PSC post 2020

Planning for optimisation of operational and cost synergies as operator of the 2 contiguous blocks in the new PSC term

Target to expand production to 14 wells and to drill 4 new development wells for Fuyu 1 PSC in 2018

Further exploration work programme planned for SK 331 PSC, following Petronas’ approval for a 2-year exploration period extension to Dec 2019

Reviewing new acquisitions in the Asean region as and when opportunities arise

Continue to explore and tap suitable funding options to fund expansion

• Strengthening our operations Focus on maintaining oil production and increasing gas sales

Continue to improve cost efficiency through various initiatives

Continue to be a responsible operator and engage on sustainability practices in our operated blocks

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Strong HSE Emphasis

• PBL achieved 7.8 MM man hours of work without lost time accidentfrom Jan 2015 to Dec 2017 and received several awards fromgovernment

• OHSAS 18001 Occupational Health and Safety ManagementCertification(1) for Arar block, Basin PSC

• ISO 14001 Environmental Management Certification(2) for Ararblock, Basin PSC

(1) OHSAS 18001 Occupational Health and Safety Management Certification is an international standard which provides a framework to identify, control and decrease the risks associated with health and safety within the workplace.

(2) ISO 14001 Environmental Management System (EMS) is a systematic framework to manage the immediate and long term environmental impacts of an organisation's products, services and processes.

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Corporate Social Responsibility

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To support and foster relationship with local communities and contribute to the improvement of their living standard

Focus areas of CSR programmes in Papua, Indonesia:

Education

Health assistance

Economic development

Environment

Infrastructure development

Education support through education assistance fund, teacher training etc

Free health service and nutritious food distribution

Economic development through donation of fish and crabs to improve local’s livelihood and also help to protect the environment by reducing excessive fishing in the sea

Establishment of a captive breeding centre for jungle deer, listed as vulnerable under IUCN#

# The International Union for Conservation of Nature

Disclaimer

The information set out in this presentation has been produced by RH Petrogas Limited as of 19 November2018. This presentation and the information contained herein does not constitute an offer to sell or aninvitation to purchase any securities in, or any underlying assets of RH Petrogas Ltd, nor is it intended to formany part of any investment decision.

For the avoidance of doubt, RH Petrogas Ltd, including its subsidiaries, associated companies, and theirrespective directors, employees, or advisers makes no express or implied representation or warranty and noresponsibility or liability is accepted by any of them with respect to the accuracy or completeness of theinformation set forth in this presentation. Nothing contained herein is, or shall be relied upon as, a promise ora representation regarding the historic or current position or performance, or any future events orperformance of RH Petrogas Ltd. Parties should make their own assessment, undertake such investigations asthey see fit and obtain their own independent legal or other advice thereon.

This presentation may include certain forward-looking statements. All statements, other than statements ofhistorical facts, that address activities, events or developments that RH Petrogas Ltd expects or anticipateswill or may occur in the future are forward-looking statements. RH Petrogas Ltd’s actual results ordevelopments may differ materially from those indicated by these forward-looking statements as a result ofvarious factors and uncertainties, including but not limited to price fluctuations, actual demand, exchange ratefluctuations, market shares, competition, environmental risks, changes in legal, financial and regulatoryframeworks, international economic and financial market conditions, political risks, project delay, projectapproval, cost estimates and other risks and factors beyond the control of RH Petrogas Ltd. In addition, RHPetrogas Ltd makes the forward-looking statements referred to in this presentation as of today andundertakes no obligation to update these statements.

This presentation was prepared exclusively for the parties presently being invited for the purposes ofdiscussion. Neither this presentation nor any of its content may be used without the prior written consent ofRH Petrogas Ltd. This presentation contains proprietary and confidential information regarding RH PetrogasLtd.

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