FY2022 Results (Analysis against FY2021)

• Revenue improved to RM375.3 billion, mainly due to the favourable price impact for all products aligned with higher benchmark prices.

• PAT increased to RM101.6 billion and EBITDA stood at RM170.7 billion.

• Cash Flows from Operating

Activities ("CFFO") increased to

RM135.3 billion.

• Capital Investments ("CAPEX")

stood at RM50.1 billion contributed by Upstream and Downstream projects.

• Total Assets strengthened to

RM710.6 billion as at 31 December

2022.

• Shareholders' Equity increased to

RM401.6 billion as at 31 December

2022, mainly attributable to the profit recorded during the year.

For the financial year ended 31 December 2022 (FY2022), PETRONAS recorded revenue of RM375.3 billion, mainly due to the favourable price impact for major products aligned with higher benchmark prices.

Despite the prolonged volatility seen in the markets throughout 2022, moving forward the Group will continue to exercise prudent financial management and firm discipline in reinvesting to provide the energy security needed today and for a just and responsible transition.

 Financial Statement Petronas

PETRONAS remained on steady
footing to weather possible market shocks

PETRONAS delivered a strong set of financial and operational results for the year as we continued to accelerate recovery efforts. The focused execution of strategies coupled with agile and resilient operations, have been key to PETRONAS' commendable performance in 2021.

The significant increase in revenue was contributed by rising energy prices, following a rebound in demand for gas, petroleum products and Liquefied Natural Gas (LNG), amongst other market influences.

Forward-looking statements in this Financial Results Announcement presentation or in subsequent discussions with regards to this presentation involve inherent risks and uncertainties. Should one or more of these or other uncertainties or risks materialise, actual results may vary materially from those estimated, anticipated or projected. Specifically, but without limitation, capital costs could increase, projects could be delayed, and anticipated improvements in capacity, performance or profit levels might not be fully realised. Although PETRONAS believes that the expectations of its management as reflected by such forward-looking statements are reasonable based on information currently available to it, no assurances can be given that such expectations will prove to have been correct. Accordingly, you are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date they are made. PETRONAS undertakes no obligation to update or revise any of them, whether as a result of new information, future developments or otherwise.

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