Hindustan Petroleum Corporation Limited

Investor Presentation

Singapore
23rd & 24th November, 2023
Plan of Presentation

HPCL at a Glance

Business Overview

Plan of . Performance Overview

Presentation

Future Plans

` Net Zero
2
HPCL at a Glance
HPCL at a Glance

Operating in India Maharatna

for 100+ Years Company

Owns & Operates 2nd largest Retail

Largest Lube Network Holder
Refinery In India

2nd largest Cross

Country Product 2nd largest LPG
Pipeline Network Marketer

State-of-the-art Enduring
R&D Setup Relationship with
Stakeholders
4
Shareholder Profile and strong presence in Indian O&G Sector

Shareholding Profile as of 30th Sep, 2023 Strong presence in Indian Oil & Gas Sector

9.65% ONGC

12.52% Refining Capacity in India*

7.90%
FPIs

14.29% Mutual Domestic Market Share in

Funds 19.41%
Petroleum Products

Insurance
Cos.

13.26%
54.90% Others
* Incl. HMEL capacity
• Visakh refinery Under Capacity Expansion to 15 MMTPA
(~ 16.9% post-expansion of VRMP, HMEL and post-completion of HRRL) 5
 Legacy of over 100 years

2019
2018

1997
Maharatna*
1978 Status to
GoI transfers
HPCL
1974 its 51.11%
Navratna equity share to
1969 Status to ONGC
Merger of HPCL
1962 Caltex
Formation of undertaking
HPCL by in India into
1955 HPCL
Commissioning Amalgamating
1952 of 165 TMTPA ESSO and
Stanvac’s name Lube refinery Lube India
1911 changed to at Mumbai Ltd
Incorporation ESSO by Lube India
of Caltex Oil Standard Ltd
Incorporation Refining
Refining Co.
Of Standard Company of
Marketing Vacuum
operations India Ltd
Refining
in India by Company of
Standard India Ltd.
Oil (Stanvac)
Company
* Highest Status accorded by GoI to Mega Central Public Sector Enterprises
6
Business Overview
 Diversified Portfolio

Market Sales Pipelines

43.4 MMT 5,132 Kms

Refining JVs &

23.2 MMTPA (HPCL Capacity) Subsidiaries
11.3 MMTPA (JV Capacity) 19 Numbers

Natural Gas R&D

End-to-End Solutions *55 Products & Technologies
Renewables
*Wind & Solar - 194 MW
Visakh Refinery under capacity expansion to 15 MMTPA * As on 30.09.2023 8
 Refinery Infrastructure

Refining Capacity in MMTPA

HMEL Mumbai 9.5
Refinery
(JVC) *Visakhapatnam 13.7
HRRL
Total HPCL 23.2
Refinery
(JVC)
HMEL (JVC) 11.3
Total (marketing rights) 34.5
Mumbai
Visakh
Refinery
Refinery
Lube Refinery (Mumbai) : 428 TMTPA
Mangalore
Refinery
(Associate
Company)
• Coastal Refineries
• Pipeline connectivity to hinterlands
• Product evacuation majorly through
 Stake in HMEL: 48.99% Pipelines
 Stake in MRPL: 16.96%
* Visakh Refinery under capacity expansion to 15 MMTPA
 Stake in HRRL (Under Construction): 74% 9
Cross Country Pipeline Network

LPG Pipeline Barwala–Hisar

Liquid POL Pipeline Ramanmandi- Bathinda P/L
*17 cross country
Bahadurgargh- Trikikalan P/L
Ramanmandi – Bahadurgarh P/L
Pipelines with total
Bathinda
Refinery
Pipeline network of
Awa – Salawas P/L
Bahadurgarh Delhi
5,132 km
Ajmer Kanpur

Mundra – Delhi P/L Palanpur Rewari – Kanpur P/L

Mundra

Vadodara
Palanpur– Vadodara P/L
Chakan Cherlapally
Mumbai Refinery Pune Solapur
S’bad Hassan-Cherlapally P/L
Mumbai – Pune – Solapur Uran Pipelines by JV
Visakh Refinery
P/L R’ Mundry companies: 1,380 Km
Hazarwadi
Anantpur Vijayawada Vizag-Vijaywada-
1,017 Km: HPCL Mittal Crude P/l , 363 Km: PMHBL
Kadapa Secun’bad P/L
Uran-Chakan LPG P/L Hassan
Mangalore
B’lore Vijaywada-Dharampuri P/L
Mangalore- Hassan - Mysore LPG P/L Dharmapuri

*Product Pipeline includes : 21Km: Mumbai Vashi

Black oil Pipeline (BOPL), 20Km: MR to Airport ATF
Pipeline and 17Km: Trombay to Wadibunder Lube
Second largest Petroleum Product Pipeline Network in India Oil Pipeline (LOPL) 10
 Supply Infrastructure

Terminals/TOPs Depots LPG Plants ASFs

44 73 56 54
Lube Blending Plants
Description Capacity
Petroleum Oil Lubes (POL)Tankage 3.2 MMT
LPG bottling capacity 6.5 MMTPA
Lube blending capacity 340 TMTPA
QC Labs 48 Nos.

Strategically located state-of-art Infrastructure 5

TOP = Tap off Point As on 30.09.2023 11
Customer Touchpoints

Retail Outlets 21,431

LPG Distributorships 6,312

SKO / LDO Dealerships 1,638

Lube Distributors (Ind & Auto) 435

Mobile Dispensers 783
CNG facilities at ROs 1,527
EV Charging facilities at ROs 2,308
LPG Consumers 94 Million
Daily Customer Interactions 25 Million
As on 30.09.2023 12
Focus on Research and Development

R&D Achievements
New Technologies / Products demonstrated 55
Patents applied 477
Total Patents granted 182

R&D Technologies and Products

Technologies: H2 PSA Technology, HP-HiGAS Technology,
SprayMax Feed Nozzle etc.
Products: Fuel Additives, Catalysts, Bio Products, Process
Chemicals, Hygiene Products, Specialty Products.
R&D Thrust Areas
 Indigenisation of Refinery Technologies, Catalysts &
Chemicals
 Process intensification
 Bio Fuels
 Petrochemicals & Polymers
All figures are as of 30.09.2023 13
HPGRDC Research Labs

Phase-I
Crude Evaluation & Process Modelling
Hydro-processing
Fuels Research & Simulation

CoE Nano-
Catalysis Bioprocess
Technology

Analytical and
Standard testing FCC
Chemical Synthesis

Phase-II
Petrochemicals Centre of
Battery
& Polymers Excellence Lubes

Residue Corrosion
Engine
Upgradation Studies
Novel
Separations 14
Joint Ventures and Subsidiaries

Oil refining Oil supply infrastructure and marketing Joint venture in Natural gas infrastructure & marketing

Subsidiaries
Biofuels Natural Gas Upstream Overseas
Marketing

GITL- GSPL INDIA TRANSCO LIMITED

Growth through Partnerships GIGL – GSPL INDIA GASNET LIMITED
HMEF- HPCL Middle East FZCO

15
Ratings and Accolades

At par with India’s Sovereign Rating Recognitions and Accolades

Recipient of FIPI’s
Company of the Year in
Baa3 (Stable) Excellence in Human
Resource Management
2022

CII DX (Digital Transformation

Award 2023)

Recipient of CII DX Award

BBB- (Stable) for Customer service stack
– HP Pay app, Chatbot and
CEEP and digital
empowerment for service
excellence to HPGAS

16
Emphasis on Talent Management

Induction Capability Building

Structured Induction process Behavioural / Functional
to Learn, Grow and Lead and Technical training

SAMAVESH

Recognition
Leadership
Rewarding Values for Building Strong
driving Performance Leadership Pipeline

17
 CSR : Touching Lives Every Way

CSR : Touching lives Every Way

~30 lakh lives benefitted since implementation of CSR Rules, 2014

18
Performance Overview
Performance Highlights: H1 2023-24

Record Half Yearly Consolidated Net Profit US$ 1.52 billion

- Highest Ever Half yearly Standalone Profit at US$ 1.36 billion

Highest Ever Half Yearly Market Sales of 22.59 MMT

- Domestic Sales Volume Growth of 6% ; Market Share gain of 51 bps vis-à-vis PSU counterparts

Highest Ever Half Yearly & Quarterly Refinery Thruput of 11.15 MMT & 5.75 MMT
- 108.8% Capacity Utilization

Refinery GRM US$ 10.49/bbl

Improved Refinery Yield and Lower F&L

Highest Ever Half yearly Pipeline Thruput of 12.62 MMT

- Efficient economic and environment friendly transportation thru pipelines 20

20
Quick Snapshot: FY 2022-23

Highest Revenue from

Operations Highest Crude Thruput
US$ 56.73 billion 19.09 MMT

Highest Pipeline
Highest Market Sales Thruput
43.45 MMT 23.25 MMT

Net Loss Refinery GRM

US$ 1.09 billion US$ 12.09 / bbl

21
Strong Refining & Marketing Performance
1.4

115% 113% 115% $23.69

Utilisation (%)

112% 113%
20 103% 105% 101%
1.2

$18.69
1

74% 13.03 $14.82

15
12.74 0.8 $13.08
9.80 $11.22
8.41 9.29 $9.20 $9.91
Throughput (MMT)

0.6
10

6.52 $7.60 $6.92

5.56 6.19
4.96 0.4

5
0.2

0 0

1 2 3 4 5 6 7 8 9 10 11 Mumbai Vizag HMEL (JV)

2021-22 2022-23 H1 2023-24
Refinery Throughput and Utilisation Gross Refining Margins* (US$ /bbl)

43.45 93.6 94.06

25,000 95
39.14 2.80 91.2
2.98 4.32 90
21,186 21,431
4.77 8.12 20,025 85

7.74 22.59
20,000

80
1.96
28.22 2.41
23.66 4.04 75

14.17 15,000 70

20 21- 2 2 202 2- 2 3 H 1 20 23- 2 4 Mar'22 Mar'23 Sep'23

Retail LPG Direct Others Retail Outlets LPG Consumers (Million)
Market Sales (in MMT) Retail Outlets and LPG Consumers
* Gross of Export Cess 22
Infrastructure Capability enhancement in last 5 Years
Refining Infrastructure Refining Capacity (MMTPA)* Customer Touchpoints Infrastructure

15.8 20.5

Mar 18 Mar 23

Supply & Distribution POL Terminals & LPG Plant (Nos.) Retail Outlet (Nos.) LPG Distributors (Nos.)
98
21186 6283
89
15062 4849

Mar 18 Mar 23
Mar 18 Mar 23
Mar 18 Mar 23

Pipeline Network (Kms.) CNG Stations (Nos.) EV Stations (Nos.)

5132 1387 2037

3370
239 0
Mar 18 Mar 23 Mar 18 Mar 23
Mar 18 Mar 23
* Considering enhanced VR capacity of 11.0 MMTPA eff. Apr’23 23
Strengthening of Infrastructure across value chain

Investment Investment
Area of Value Chain (Rs Cr.) (US$ Billion)
Refining Capacity Expansions 31,000 3.8
Expansion of Pipeline Network 8,500 1.0
LPG Plants / POL Depots / Capacity Augmentations 5,800 0.7
Expansion of CGD Network 2,000 0.2
Enhancing Biofuels & Renewable capacities 1,000 0.1
Expanding Customer touch points 14,000 1.7
Equity Investment in JVs & Subsidiaries 10,000 1.2

Others (R&D, Digital Transformation etc.) 1,700 0.2

Investments during last 5 years 74,000 8.9

24
Return to Stakeholders

Return to shareholders Market Cap (US$ million)* Share buy-back Program

Bonus share Issue

4,353 First & only PSU to do Open

2 Market buy-back
Sep 2016 (2:1)

47.81% increase
from 28th Oct 20

6 CAGR 3.4
July 2017 (1:2) 1,034 15.5% 2.3 2.5

28/10/20 04/11/20 14/05/21

HPCL share price on BSE
9 Sep-13 Sep-23 (In US$/Share)

*BSE at close of month. • Board approval - share buy back worth

US $ 332 Million on 4th November 2020
2 shares in 2016 became 9 Total return to shareholders ~ 31% • Maximum Buyback Price at a premium of
45.52% and 45.43% over the closing prices
on both BSE and NSE, respectively, on
Consistent returns to stakeholders October 28, 2020.
25
 Key Financial Performance Parameters

19.7% 19.4% 2.9 3.1 3.05

17.6% 16.8%* 2.63 2.65
10.8% 2.2
6.86%
1.36*
-10.7%

2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 H1 2023-24 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 H1 2023-24

Return on Capital Employed (ROCE%) Asset Turnover Ratio (In Times)

1.80 79.8
70.6
41.7 39.6 44.9
1.18 17.3
0.84 0.90
0.70
0.43 0.48
-63.3
2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 H1 2023-24 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 H1 2023-24

Long Term Debt Equity Ratio (In Times) Earning per Share (in Rupees)

All Financial parameters reflecting inherent strength & growth potential

* Not annualized 26
Key Financial Performance Parameters
4.50

2.1 2.2 2.50

2.0
4.00

2.6 3.50 1.8 1.7 2.00

2.3
1.9
3.00

1.9 1.7 2.50

1.50

1.1
0.9
2.00

1.80 0.9 1.00

1.50

1.00

0.84 0.70 0.90 1.18

0.50

0.50
0.43 0.48
-0.7 - -

2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 H1 2023-24 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 H1 2023-24

EBITDA (US$ billion) Capex (US$ billion) & Debt Equity ratio (Times)

4.9 5.1 6.1

4.7 5.6
3.7 4.1 3.8 4.6
3.4
3.2 3.4

1.6 1.9

2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 H1 2023-24 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 H1 2023-24

Net worth (US$ billion) Long Term Debt (US$ billion)

Value Creation thru Effective Leveraging (Now Past Peak Debt Cycle)
Capex includes Equity Investments in JVCs/Associates/Subsidiaries etc. 27
Future Plans
Future Plans: Focus Areas

Existing Business Area

Existing Business Adjacent Business New Business Emerging Business
Area Area Area Area

Businesses areas Business areas Business

Business areas
which are where HPCL is in opportunities
where HPCL is
associated or the process of which have a
conducting its
extension to our enhancing it’s future potential,
current
existing business presence. but currently does
businesses.
area. Eg. Road e.g. not have an
Products line
side amenities, Petrochemicals, established
such as-
Convenience LNG, Logistic commercial
MS, HSD, Auto
stores, food Services, Retail model e.g.
LPG, Lubes, I&C
stalls, car wash at Chains at locations hydrogen, fuel
Products ATF
Retail Outlet etc other than Retail cells etc.
Outlets

29
Framework

Goal

Action

Enablers

Creating Value and Delivering Growth Responsibly

by strengthening existing businesses, leveraging new growth engines and
seizing green & emerging opportunities with focus on technology & innovation
30
Refinery Capacity Additions

Refining Capacity

45.3
29.1
MMTPA
MMTPA
2022-23 2027-28

Refinery 2022-23 2027-28 Capacity Addition Project Completed Physical Project Cost
(MMTPA) (MMTPA) (MMTPA) progress (US$ billion)

MR 9.5 9.5 0.0 MR Expansion (7.5 to 9.5 MMTPA) Commissioned 0.6

VR 8.3 15.0 6.7 Progressive
VR Modernization (8.3 to 15.0 MMTPA) Commissioning 3.2
HMEL (JV) 11.3 11.8 0.5 (96.5%)

HRRL 0.0 9.0 9.0 HRRL – 9 MMTPA Green Field Refinery

72% 8.8
Total 29.1 45.3 16.2 & Petrochemical complex

31
 Rajasthan Refinery (HRRL): Project Snapshot

 JV of HPCL (74%) and Govt. of Rajasthan (26%)

 Project cost : ~ US$ 8.8 billion

 Capacity : 9 MMTPA

 Location : Pachpadra, Rajasthan

 Configuration based on local crude from Barmer

oil field / imported crude

 Land : ~ 4500 acres

 Expenditure : ~ US$ 4.46 billion (30th Sep 23)

HRRL Project, Rajasthan

32
HRRL: Uniqueness of the Project

Largest PE capacity in India (2X500 KTPA)

Largest PPU capacity in India (2X490 KTPA)

FUEL &
OTHERS
PRODUCTS
26% Petrochemical Yields

14 grades of Polyethylene &

21 grades of Polypropylene
State of the
Art Refinery Flexibility in switching between
Fuel & Petrochemicals

Quartile-1 energy performance at design stage

Nelson Complexity Index of 17.0

33
 HRRL: Units, Product Slate & Expected Margins

Refinery Complex : Product Production (KTPA)

CDU/VDU, MS Block Unit, Prime G, DHDT Unit, HGU, MS 995
SRU, VGO-HDT, PFCC Unit, DCU, Treating /sweetening
HSD 4,035
facilities
Poly Propylene (PP) 1,073
Petrochemical Complex : LLDPE 479
DFCU, PPU, Butene-1, LLDPE/HDPE Swing
HDPE 479

Utilities & Offsite/Associated Facilities: Butadiene 146

DCPP, Raw Water Reservoir at Nachna, Township, Benzene 134
Crude Import Facilities
Toluene 104
Pipelines: Sulphur 157
Crude P/L Mundra to HRRL
Crude P/L from Mangala Processing Terminal Expected Complex GRM : 20.95 US$/Barrel
Raw water Pipeline
34
Marketing Network Expansion

Pipelines Terminal/Depots (No.)

6,000
5,132 KM 85
KM
81
2022-23 2027-28 2022-23 2027-28

LPG Bottling Plants (No.) Retail Outlets (No.)

60 21,431 26,000
55
2022-23 2027-28 2022-23 2027-28

35
Portfolio expansion in Petrochemicals & Natural Gas

Petrochemical Capacity Natural Gas

4.6
 LNG Import Facilities

0.5
1,387
Natural Gas Pipelines
MMTPA MMTPA Nos Nos
2022-23 2027-28  CGD Network & Marketing

 2.4 MMTPA Petchem Capacity in HPCL Rajasthan

CNG Stations (No.)
Refinery Ltd (JVC)

 HMEL Polymer Addition project with 1.2 MMTPA dual

feed cracker (Completed)

 Petrochemical Marketing started by HPCL under ‘HP 1,387 3,000

Durapol’ Brand
 15.2 TMT sales in FY 2023-24 (up to Oct’23)
2022-23 2027-28
36
Natural Gas: Participation across entire value chain

Regasification Transportation Marketing

LNG Import Facilities Natural Gas Pipelines CGD Network & Marketing
 5 MMTPA LNG  Mehsana to Bhatinda  23 GAs in 12 states
Regasification (1669 Km) – GIGL(JV)  HPOIL (JV)
Terminal at Chhara,  CNG facilities at Retail
 Bathinda to Gurdaspur
Gujarat (Subsidiary) Outlets
(260 Km) – GIGL (JV)
 Gas Marketing
 Connection to  Mallavaram to Bhilwara  LNG facilities at Highways
National Gas Grid (1881 Km) – GITL (JV)
Pipelines
Participation through Participation through JV
Participation through JV and standalone basis
Subsidiary

GITL- GSPL INDIA TRANSCO LIMITED

GIGL - GSPL INDIA GASNET LIMITED
37
Snapshot: 5 MMTPA LNG Import & Regasification Facilities

LNG Import Facilities

 5 MMTPA LNG Regasification Terminal

at Chhara , Gujarat

 Executed by 100% Subsidiary of HPCL

–HPLNG Limited

 Project Cost US$ 517 million

Current Status

 Mechanically completed

 Pipeline Connectivity at under

advanced stage (BY GSPL)

 Breakwater facilities under construction

(By Simar Port Private Ltd.)
38
Green Opportunities - Biofuels

Biofuel Capacity

300
12.06
TMT TMT
2022-23 2027-28

CBG Plant at Budaun- Milling Section

Biofuels Projects Status Project Cost (US$ million)

14 TPD Capacity CBG Plant at Budaun, UP Commissioned 16.0
1.6 TPD CBG Plant at Pathmeda, Rajasthan Commissioned 3.0
100 KLPD 2G Ethanol Bio- Refinery at Bathinda Ongoing 171.2
16TPD Compressed Biogas (CBG), Eluru, West Godavari, AP Ongoing 27.4
39
 Green Opportunities - Renewables

Renewable Capacity

184 2,400
MW MW
2022-23 2027-28
Solar Panels at HRGRDC, Bengaluru
• Current power requirements to renewable sources (500MW) under Conversions
• Participation in Tariff Bidding
• 100% Solarisation of Retail Outlets (52% completed)
• Wholly owned subsidiary for consolidation of ‘Green & Emerging Business’ opportunities under one umbrella
Renewables Project Status Project Cost (US$ million)
Panipat Solar Project Ongoing 5.4
Jhansi Solar Project Ongoing 4.4
Solar Power Plant at Galiveedu Upcoming 82.1
Greening Retail Outlets- Delhi Upcoming 6.6
40
Green Opportunities - Green Hydrogen

Green Hydrogen

16,870
3.5
TPA TPA
2022-23 2027-28

 370 TPA Green Hydrogen Plant under

construction at Visakh Refinery

 12,200 TPA Green Hydrogen Project at Visakh

Refinery

 4,300 TPA Green Hydrogen Project at HRRL

41
Digital Vision & Strategy

HPCL Digital Vision Digital Strategy Framework

HPCL commit to leverage

Digital Technologies in
every aspect of our
business for continuous
innovation, operational
excellence and new
business models to provide
best in class experience
and value to all
Stakeholders.

42
Leveraging Digital Technologies

Customer Experience
HP Pay – Unified loyalty & Capability Building
Payment Solution Digital Experience Centre
Omni Channel Chatbot AR/VR Based Training
Metaverse
Generative AI

Data driven Decisions

ERP Modernization Workforce Enablement
Enterprise Data Repository & Analytics HR Analytics
Connected Enterprise Connected worker
Supply Chain Control Tower Smart Helmets
Centralized Command centre

Assets & Project Mgmt.

New Business Models Central Energy Mgmt. System
E- commerce Platform Project Portfolio Management Office
Warehouse Management

Operational Excellence
Supply Chain Management
Video Analytics @ Retail Outlets
Demand Forecasting
Video Analytics @ Plants & Terminals
Smart Fleet management
Predictive Analytics based maintenance
Robotic Process Automation

An array of Digital Initiatives spanning across technologies

43
Capex – HPCL and Equity in JVs/ Subsidiaries (FY 24 to FY 28)

Investment Shift

• 36% Investment in Renewables,

Biofuels, Natural Gas, Alternate 52% 7% 5% 6%
Fuels, Net zero
Capex
Petroleum Non Fuel Petchem
Net Zero

• 12% in Non-Fuel & Net Zero

Investment
8% 15% 4% 3%
US$ 9.3 billion
EV/alter
Renewable Gas Biofuels
nate
44
Maturing CAPEX to help Boost Bottomline
• Progressively commissioning Refinery upgrades
Refinery Capacity, Thruput & Market Sales (MMT)
• Leveraging Marketing infrastructure to boost
58.2 (6%)
volumes
55.5 (5%)
52.9 (4%) • Past the Peak Debt Cycle (Standalone)
43.5

• Nearing Peak Debt (Consolidated)

36.9
MMT
MMT • Improved self-sufficiency and product security
50.8*
45.3
• Working towards 2x + jump in EBITDA levels by
29.1 31.8 FY28
27.1

• Strengthening Key financial and leverage ratios

• Net Debt to EBITDA
17-18 22-23 27-28
• Retained Cash Flows to Net Debt
Ref. Capacity Ref. Thruput Market Sales (CAGR 6%/5%/4%)
• Long Term Debt to Equity
* Based on projected Refinery Capacity utilisation
45
Net Zero
Net Zero Announcement

HPCL Net Zero plan - Investment of ~US$ 7.20

Announcement on 31st billion towards Net-zero
Jan 2022 plans by 2040

• HPCL is committed to conduct business with an objective of preserving the

environment and contributing to sustainable development.

• Plans underway to achieve Net zero Scope 1 & 2 emissions by 2040.

• Dedicated Energy Transition Cell

47
 HPCL Net Zero Plan: Development of Roadmap

HPCL – Emission Reduction Roadmap Key Levers/investment for emission reduction

9

8
7.9 Lever Investment % Reduction
7

6 5.6
Unit : MMT of Co2e 1 Efficiency US$ 1.20 billion 19%
5
5.0
3.6 16%
4
4.4 2 Renewables US$ 1.20 billion
3
2.5
2 Fuel switch
1
3 to bio gas
US$ 3.52 billion 36%
1.4
0
0 Green
4 Hydrogen
US$ 0.51 billion 20%

Total emission to
be abated by 2040
2030 2035 2040 5 CCUS US$ 0.77 billion 6%

Conservative Technology Adoption Flare

6 reduction US$ 0.02 billion 3%
Base Case Scenario
Accelerated Technology Adoption Total US$ ~ 7.20 billion 100 %
48
Energy Transition Strategy Framework

Transition to Energy Company

Energy Security

Decarbonisation
Petrochemicals

Emission Intensity
Reduction
R&D & Innovation ESG Focus Collaboration Capital Efficiency
49
Nayaa HPCL : Fresh Fast Fluid

• Transformation to an Energy Company

creating value and growth in step with
society
• With significant presence in
• Traditional Fuels
• Natural Gas
• Petrochemicals
• Green energy
• Non Fuels

50
Experienced Management Team

Mr. Pushp Kumar Joshi, Chairman & Managing Director

• He is a Doctorate in Human Resource Management, Post Graduate in Human Resource Management from XLRI, Jamshedpur and Bachelor of Law from Andhra University. Prior to
this, he was Director, HR of the Corporation from August 01, 2012. In past, he also held key portfolios in HR functions viz. Executive Director, HRD and Head, HR of Marketing
Division. During his tenure as Director HR, he was responsible for overseeing the design and deployment of key HR policies and strategies while leading Human Resources practices
that are employee-oriented and aimed at building high performance culture
• He also holds the directorship on the boards of Hindustan Colas Pvt Ltd (HINCOL), HPCL Rajasthan Refinery Limited (HRRL) and HPCL Mittal Energy Ltd. (HMEL)

Mr. Rajneesh Narang, Director – Finance

• He is Director -Finance of HPCL effective March 22, 2022. He is a Member of the Institute of Chartered Accountants of India (ICAI) and a Post Graduate in Financial Management.
He brings with him rich and varied professional exposure of more than 3 decades across various spectrum of Downstream Oil Company.
• He has headed the position of Marketing Finance which is considered as backbone of the company. He has also held various key challenging assignments in HPCL in the field of
Corporate Finance, Treasury, Risk Management, Margin Management, Marketing Finance, Budgeting, SBU Commercial, C&MD’s Office and Refinery Project. He is on Board of
several HPCL Subsidiary/Joint venture Companies.

Mr. S Bharathan, Director – Refineries

• He is Director- Refineries of the Company effective October 01, 2022. Prior to this, he was an Executive Director – Refineries Coordination of the Company with Additional Charge
of R&D.
• He has wide exposure to the Refinery operations of the Company and has worked in Operations and Technical Departments of Mumbai and Visakh Refinery for over 25 years. He
has also worked in the Corporate Office on Margin Management & Refinery Project Process for over 4 years. Further, he is also leading HPCL’s Green R&D Centre in Bengaluru for
the last 3 years. Under him, HPCL Green Research & Development Centre (HPGRDC) has reached filing of about 380 patents.

Mr. Amit Garg , Director – Marketing

• He is Director- Marketing of the Company effective December 27, 2022. Prior to this, he was an Executive Director-Aviation in Bharat Petroleum Corporation Limited (BPCL). He is
a Post Graduate in Electronics & Management.
• He is a senior leader in Oil & Gas space having rich and varied experience of over 35 years across the entire value chain in the Industry including sourcing, storage, logistics and
sales across various functions in BPCL. He also served as a full time Director with Indraprastha Gas Limited, the largest CGD in the country and as a Nominee Director with
Maharashtra Natural Gas Limited, a Joint Venture of BPCL & GAIL (India) Limited.

Mr. K S Shetty , Director – Human Resource

• He is Director- Human Resources of the Company effective May 01, 2023. Prior to this, he was an Executive Director – Human Resources with additional charge of Employee
Relations Department. He is a Gold Medalist in HR Management from Andhra University and also an alumnus of the Swedish Institute, Stockholm for Diploma in Sustainable
Development in 2012. He has completed his Advanced Management Program from MDI, Gurgaon / ESCP Europe Business School, Paris. (2016). He is an SHRM, USA - Senior
Certified Professional and is currently on the AIMA Core Committee on HR and also on the National Council of the Indian Society for Training and Development (ISTD). He is also on
the Board of HPLNG. He has over 25 years of experience in HR in various capacities at HPCL.
Disclaimer

The information contained in this material have been obtained from sources believed to be reliable, but no representation
or warranty express or implied, is made that such information is accurate or complete and it should not be relied upon as
such. The information contained in this material may not be perfect and some part of the information may be left out.
While the Company will use reasonable efforts to provide reliable information through this presentation, no representation
or warranty (express or implied) of any nature is made nor is any responsibility or liability of any kind accepted by the
Company or its directors or employees, with respect to the truthfulness, completeness, accuracy or reliability or otherwise
whatsoever of any information, projection, representation or warranty (expressed or implied) or omissions in this
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change without notice and its accuracy is not guaranteed, it may be incomplete or condensed and it may not contain all
material information concerning the Company. We do not have any obligation to, and do not intend to, update or otherwise
revise any statements reflecting circumstances arising after the date of this presentation or to reflect the occurrence of
underlying events, even if the underlying assumptions do not come to fruition.