Hindustan Oil Exploration Co. Ltd.

Allen Joseph Andrade

Thanks, Baroruchi. I will now take you through the financial and operational performance of the company for the quarter. During the current quarter, the company recorded standalone revenues from operations of INR117.5 crores compared with negative of INR194 crores in the previous quarter. After accounting for profit petroleum and revenue share of INR9.83 crores, the net revenue stands at INR107.6. The previous quarter was impacted by the reversal of the HPCL sale of INR259 crores, as we are well aware. The consolidated revenue from operations for the quarter was INR124 crores, and after profit petroleum and revenue sharing, the net consolidated revenue stands at INR114.17 crores.

August 13, 2026Page 6 of 21The improvement in the current quarter, as Baroruchi had mentioned, was driven by higher production from the Kharsang field, mainly crude, and favorable Brent prices. This was augmented by the commencement of the liquidation of the B-80 crude, although at a slower than expected pace. Even from an operational perspective, the production from Kharsang has been most encouraging, where production increased from approximately 12,300 barrels of oil to 17,400 BOE. The average realization of crude and condensate improved significantly to about $95.5 a barrel, compared with approximately $70.8 per barrel in the previous quarter on a standalone basis. In addition, the average gas price realization improved to $12 MMBTU, compared with 9.8 MMBTU in the previous quarter.