UMW Oil & Gas Corporation Berhad

Confidential

BRIEFING ON 2013 RESULTS

25th February 2014

1

Agenda

Company Overview 1

Business Strategies 2

Strategic Roadmap 3

Financial Overview 4

2

1. Company Overview

Overview

3

• 1988 Establishment of UMW Oilpipe Services Sdn Bhd marks

our foray into the oil and gas business

• 2002 UMW Oil & Gas division was established

• 12 November 2012 UMW Oil & Gas Corporation Sdn Bhd incorporated in

Malaysia as a private limited company

• 14 May 2013 UMW Oil & Gas Corporation Sdn Bhd converted into a

public company

• 1 November 2013 UMW Oil & Gas Corporation Bhd Listed in Bursa Malaysia

• Staff Strength 719 (as at 31 Dec 2013)

Background

Financial Performance 2013

• Revenue RM 737 Million / USD 234 Million

• PBT RM 205 Million / USD 65 Million

• PAT RM 192 Million / USD 61 Million

Exchange rate 31.12.2013 : RM 3.1504 = USD 1

Share price performance

4

Key Data as at 24.2.2014

Issue Price RM 2.80

52 Week High

52 Week Low

RM 4.63

RM 3.10

Issued shares 2.62 Billion

Market Capitalisation RM 9.4 Billion

52 week high: RM 4.63 10.2.2014

Provide drilling services for both exploration and development activities

Semi-submersible drilling rig - Jointly-own and operate one semi-submersible drilling rig

Premium jack-up drilling rigs - Currently owns seven premium jack-up drilling rigs

UMW-OG’s market share(2)

Malaysia

5%

Business overview

5

Portfolio of high quality assets and premium-focused business Source: (1) 10 February 2014 : UMW Petrodril puchased an advanced hydraulic workover unit (HWU) from Canadian Energy Equipment Manufacturing (CEEM). UMWOG expects to take delivery of the HWU by

Q42014 (2) ODS petrodata as at 21 February 2014 (3) Douglas-Westwood annual average contracted rig count from 2009-2012 (4) Douglas Westwood: Based on threading market share on average over 2009-2012.

Drilling services Oilfield services

Provide OCTG threading, inspection and repair services

Facilities in Malaysia, Thailand, China and Turkmenistan

6 plants in 4 countries

Offshore drilling OCTG threading,

Inspection & repair services

Provide workover, repair and maintenance services for oil ad gas wells

Also provides agency services for specialised equipment and services for overseas clients

Own and operate four Hydraulic

Workover Units(1)

Hydraulic workover

SEA

36%

11%

Malaysia SEA

< 1%

UMW-OG’s market share(4)

Threading - Malaysia

Threading - China

11%

UMW-OG’s market share(3)

We are a Malaysian-based multinational oil & gas (“O&G”) player focused on providing drilling and oilfield services for the upstream sector of the O&G industry

29%

Local 66%

International 34%

First domestic owner and operator of jack-up drilling rigs in Malaysia

Sole Malaysian Owner & Operator of HWUs

Complementary oilfield services business

UMWOG at a glance

6

Drilling services 94%

Oilfield services 6%

Revenue breakdown for 2013

(1) 6 February 2014: UMWOG entered into a Vessel Construction Agreement with Keppel FELS Limited ("Keppel FELS") for the design, engineering and construction of a Rig Vessel, KFELS B Class jackup rig, for a cash consideration of US$218 million. UMWOG expects to take delivery of the drilling rig by the end of September 2015. 12 February 2014: UMWOG entered into a Sale and Purchase Agreement with Tianjin Haiheng for the purchase of two jack-up drilling rigs for a total purchase consideration of US$434 Million. UMWOG expects to take delivery of the drilling rigs by September 2014 and December 2014.

(2) 10 February 2014 : UMW Petrodril puchased an advanced hydraulic workover unit (HWU) from Canadian Energy Equipment Manufacturing (CEEM). UMWOG expects to take delivery of the HWU by Q42014

(3) OCTG = Oil country tubular goods

1 semi-submersible drilling rig

7 premium jack-up drilling rigs(1)

PETRONAS-licensed

5 Hydraulic Workover Units (“HWUs”) (2)

PETRONAS-licensed provider of HWU services

Provides OCTG(3) threading, inspection and repair services

6 Plants in 4 countries (Malaysia, Thailand, Turkmenistan and China)

7

Gait I

Workover rig hp: 400

Gait II

Workover rig hp: 600

Gait III

Workover rig hp: :600

Gait V

Workover rig hp: 600

NAGA 1

Semisubmersible Rig

Water depth: 1000ft

NAGA 2

Jack-up Rig

Water depth: 350 ft

8 Offshore Rigs

5 Workover rigs

Our assets : Drilling Operations

NAGA 3

Jack-up Rig

Water depth: 350 ft

NAGA 4

Jack-up Rig

Water depth: 400 ft

NAGA 5

Jack-up Rig

Water depth: 400 ft

Gait VI

Workover rig hp: 600

Delivery: Q4 2014

NAGA 8

Jack-up Rig

Water depth: 400 ft

Delivery : Sept 2015

NAGA 6

Jack-up Rig

Water depth: 375 ft

Delivery : Q32014

NAGA 7

Jack-up Rig

Water depth: 375 ft

Delivery : Q42014

7

Our assets : Oilfield Services Operations

UMW Oilpipe Services Sdn Bhd Year : 1988 Location : Labuan – West Plant & East Plant

UMW Oilpipe Services (Turkmenistan) Ltd. Year : 2006 Location : Turkmenbashi, Turkmenistan

UMW Oilfield Services (Tianjin) Co., Ltd Year : 2002 Location : Tianjin, China

UOT (Thailand) Ltd Year : 1997 Location : Songkla & Sattahip, Thailand

8

0 052 100

237 026 058

246 139 031

107 072 157

0 122 192

255 204 204

255 204 153

199 184 222

153 204 255

9

NAGA 1 –Offshore Sarawak

NAGA 3 – Offshore Labuan

NAGA 2 – Offshore Vietnam

UOS – Labuan, Malaysia

UOS-TK – Turkmenbashi, Turkmenistan

UOS-TJ – Tianjin, PRC

UOT – Songkhla and Sattahip, Thailand

Semi-submersible rig

Oilfield services operations

GAIT I – KSB, Malaysia

GAIT II – ASB, Malaysia

NAGA 4 – Offshore Sarawak

Jack-up rigs

GAIT III – KSB, Malaysia

China

Malaysia

Vietnam

Thailand

Turkmenistan

Hydraulic workover units

GAIT V – Bongkot Field, Songkhla, Thailand

Our presence

International experience and platforms facilitate further growth overseas

10

International presence

Experience with international oil and gas companies

Accumulate

knowledge of local

regulations and

relationships

Track record

enables UMW-OG

to be competitive in

bids for contracts

from international oil

and gas companies

Familiarity with

operations and

HSE(1) requirements

of international oil &

gas companies

PETRONAS Carigali

In a favourable position to undertake projects for international customers as well as Malaysian customers operating internationally

(1) HSE = Health, Safety and Environment

China

Oilfield

services

Thailand

Oilfield

services

Workover

units

Indonesia

Offshore

drilling

Workover

units

Vietnam

Offshore

drilling

Workover

units

Turkmenistan

Oilfield

services

Malaysian 96%

Foreign 4%

UMW Holdings

55.1%

PNB 9.3%

EPF 6.4%

Others 29.2%

Shareholding structure (as at 28.1.2014)

11

Institutional Vs. Individual Top 3 Shareholders

Foreign Vs. Domestic Investors

Individual 3.4%

Body Corporate

74.5%

Government 0.2%

Nominees 21.9%

12

2. Business Strategies

Build Asset Base

Build Capabilities

Secure Market Share

Manage Day rates

& Utilisation

13

UMW-OG’s key focus areas

Drilling academy

Experienced management

Strong HSE

Increase in number of assets

Assets with higher technical capabilities

Strong in Malaysia

International experience

Ability to secure contracts

Higher asset base

Higher utilisation

Higher day rate

Balance between short and long term contracts

Optimise utilisation

Design: MSC CJ-46-X 100D

Delivery: Sept 2014

Cost: US$217 Million

Vendor: Tianjin Haiheng Shipbuilding & Offshore Engineering Service Co

Design: MSC CJ-46-X 100D

Delivery: Dec 2014

Cost: US$217 Million

Vendor: Tianjin Haiheng Shipbuilding & Offshore Engineering Service Co

Design: KFELS B Class

Delivery: Sept 2015

Cost: US$218 Million

Design, engineering and construction: KEPPEL Fels Ltd

Design: CEEM 460K AHWU

Delivery: Q4 2014

Cost: US$2.8 Million

Vendor: Canadian Energy Equipment Manufacturing FZE

14

Recent Rigs Acquisition

UMW NAGA 6, UMW NAGA 7, UMW NAGA 8 and GAIT VI

To further expand into the

broader Asia-Pacific region as

part of our plan to be a global

player

To capitalise on favourable

industry conditions with an

enlarged asset capacity

To be more efficient in our

operation and maintenance due

to common equipment and

spare parts since we have four

of similar specifications rigs in

our fleet

To capitalise on the strong

market demand for our rigs

UMW

NAGA 6

UMW

NAGA 8

UMW

NAGA 7

GAIT VI

Build Asset Base

APPROACH STRATEGY

Drilling academy was established

in collaboration with INSTEP

The Academy will be fully operational by the first quarter of 2014

Building Capabilities and Competencies 15

Build Capabilities

Land Rig

Rig Simulator

Objectives:

• Building Capabilities & Competencies

• Addressing shortage of skilled

personnel

Secure Market Share

NAGA 2

• PetroVietnam

• Country: Vietnam

• Date: June 2013

NAGA 3

• PetroVietnam

• Country: Vietnam

• Date: April 2014

NAGA 5

• NIDO

• Country: Philippines

• Date: June 2014

GAIT V

• PTTEP

• Country: Thailand

• Date: July 2013

UOS Tianjin

• Baosteel

• Country: China

• Date: August 2013

UOS Turkmenistan

• Scomi Oiltools

• Country: Turkmenistan

• Date: January 2014

16

17

2010 2011 2012 2013 2014 2015 2016 2017 2018 N

AG

A

1

NA

GA

4

N

AG

A

2

NA

GA

3

Contracted with PCSB until Aug 2018

Contracted with Petrovietnam Drilling till Mar 2015

Optional extension until Apr 2018

Deli

ve

ry

(2

00

9)

Deli

ve

ry

(20

10

)

De

live

ry

20

13

Contracted with PCSB till Apr 2013

PETRONAS Carigali

NA

GA

5

Awarded 6 week contract (December 2013) D

eli

ve

ry

Ma

y 2

01

4

Contracted with PCSB till Mar 2014

Petrovietnam for two wells (Sept 2013)

1000ft

350ft

350ft

400ft

400ft

Rated

Water

depth

Secure Contracts

PETRONAS Carigali

PETRONAS Carigali

Rigs fully contracted out to blue chip customers

>25%

18

Manage Day Rates and Utilisation

NAGA 1

PETRONAS Carigali

Contract till Nov 2015

Extension to Aug 2016

Extension to Aug 2018

30%

75%

NAGA 2 Extension to Oct

2014 + option till

Mar 2015

NAGA 3

PETRONAS Carigali

>15%

Contract for 2

wells : estimated

till Sept 2014

NAGA 4

PETRONAS Carigali : NAGA 3

PETRONAS Carigali

~5%

Contract till Apr

2016 + option

till Apr 2018

NAGA 5

PETRONAS Carigali : NAGA 3

>15%

Contract for 6 weeks :

estimated till July 2014

Securing contracts with higher day rates

19

Certifications

Commitment to Safety Practices

Total Recordable Case Frequency (TRCF)(1)

Committed to the health and safety of personnel, protection of the environment and

compliance with applicable laws and regulations

(1) For a period, the total recordable case frequency is equal to the number of recordable cases multiplied by 1,000,000 and divided by actual man hours worked. Recordable

cases consist of fatalities, permanent total or partial disabilities and lost workday cases (excluding restricted workday cases).

0.8

0.24 0.21

2012 2013 Jan-2014

UMW-OG has demonstrated a strong operational track record and a focus on Health, Safety and Environmental compliance:

Health, Safety and Environment

Policies

Quality Health, Safety & Environment Drugs & Alcohol Stop Work Smoking

20

3. Strategic Roadmap

Fleet Expansion & Geographical Expansion

21 Planned

Growing our fleet to capture the demand in SEA and ASEAN region

22

Long Term Short Term

• NAGA 1 :

• Contracted till 2018 NAGA 2 :

6 + 6 + 4 +

5 (option) months

• Earnings visibility

• Revenue stability • Higher Day rates

NAGA 4 :

Contracted till 2016,

extension 2018

NAGA 3:

~5 months

NAGA 5 :

6 weeks

Balancing for sustainability and capitalising on the high demand for rigs

Balancing Long Term & Short Term Contract

23

4. Financial overview

2013 Financial Results

24

RM Million Revenue Profit /(Loss) Before Tax Profit /(Loss) After Tax

2012 2013 2012 2013 2012 2013

Drilling Services 678 692 99 191 88 176

Oilfield Services 43 44 6 7 5 6

Others 3 1 (21) 7 (21) 10

TOTAL 724 737 84 205 72 192

2012 2013

Drilling Oilfield Others

724 737

2012 2013

Drilling Oilfield Others

84

205

2012 2013

Drilling Oilfield Others

72

192

144% growth 2% growth 167% growth

(41)

102 84

205

(48)

79 72

192

(100)

(50)

-

50

100

150

200

250

-

100

200

300

400

500

600

700

800

2010 2011 2012 2013

Drilling Oilfield Others PBT PAT

Financial Performance

25

349

550

724 737

RM Million RM Million

Rig Ownership Rig Utilisation

NAGA 1 50%

NAGA 2 100%

NAGA 3 100% -

NAGA 4 100% - - -

Hakuryu 5 BBC -

Increase in number of rigs in operations contributing to the growth

0 – 25%

utilised 26% – 50%

utilised

51% – 75%

utilised 76% – 99%

utilised

100%

utilised

212

385

539 506 36

145

161

66

-

-

-

124

101

21

24 41

2010 2011 2012 2013

Malaysia Indonesia Vietnam Others

236

512

678 692

110

35

43 44

2

3

3 1

2010 2011 2012 2013

Drilling Oilfield Others

Revenue development

26

Revenue segmentation (RM Million) Revenue by geography (RM Million)

(1) Others segment is involved in investment holdings, provision of support services, management and corporate services. (2) Other countries include Turkmenistan, Thailand, China, Singapore and others. (3) Totals may not form an arithmetic aggregate of their components due to rounding.

724

349

550

349

724

550

737 737

Robust revenue growth driven by UMWOG’s execution capabilities

32

182 185

319

2010 2011 2012 2013

Earnings development

27

9.1%

EBITDA EBITDA margin PAT/(LAT) margin PAT/(LAT)

33.2% 25.6% -13.7% 14.4% 9.9% 26.1% 43.3%

(48)

79 72

192

2010 2011 2012 2013

EBITDA (RM Million) Profit / (Loss) after tax (RM Million)

6.3

0.9 0.3

2.9

0.7

-0.1

28

Gearing Ratio Figures in times

RM 1.2 Billion cash in hand significantly reduced the gearing ratio

Net Gearing

Gross Gearing

Include inter-company advance

Exclude inter-company advance

2013 Q3 2013 2012

After internal

reorganisation After IPO

Capital expenditure (as at 18.2.2014)

29

Rigs & HWUs RM 1.9 Billion

99.0%

Plant & machinery

RM 10.9 Million 0.6%

Others RM 8.5 Million

0.4%

Developing and further expanding our asset base 2014 TOTAL CAPEX = RM 1.9 Billion

Q&A

30

Thank You 31