Analysts/Institutional Investor Meet/Con. Call Updates

Hindustan Oil Exploration Company Limited ‘Lakshmi Chambers’, 192, St. Mary’s Road, Alwarpet, Chennai - 600 018. INDIA. Phone: 91 (044) 66229000 ● Fax: 91 (044) 66229011 / 66229012 E-mail: contact@hoec.com ● Website: www.hoec.com CIN: L11100GJ1996PLC029880 June 19, 2026 By Online The Listing Department The Corporate Relationship Department National Stock Exchange of India Ltd., BSE Limited “Exchange Plaza”, Bandra Kurla Complex, 1st Floor, P. Jeejeebhoy Towers, Bandra (East), Mumbai – 400 051 Dalal Street, Mumbai – 400 001 Stock Code: HINDOILEXP Stock Code: 500186 Dear Sir / Madam, Sub: Earnings Call Q4 FY2025-26 – Transcript In continuation to our intimation dated June 12, 2026 and pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the transcript of the Earnings Call of the Company for the Q4 FY2025-26 held on June 12, 2026 is here with attached. The same is also available on website of the Company at https://hoec.com/earnings-call/. We request you to take the same on record. Yours Sincerely, For Hindustan Oil Exploration Company Limited Baroruchi Mishra Managing Director & CEO DIN: 09223144 Encl.: a/a Registered Office: ‘HOEC HOUSE’, Tandalja Road, Off Old Padra Road, Vadodara - 390 020. INDIA. Phone: 91 (0265) 2330766 ● E-mail: contact@hoec.com ● Website: www.hoec.com “Hindustan Oil Exploration Company Limited Q4 FY26 Earnings Conference Call” June 12, 2026 MANAGEMENT: MR. BARORUCHI MISHRA – MANAGING DIRECTOR & CHIEF EXECUTIVE OFFICER – HINDUSTAN OIL EXPLORATION COMPANY LIMITED; MR. ALLEN JOSEPH ANDRADE – CHIEF FINANCIAL OFFICER – HINDUSTAN OIL EXPLORATION COMPANY LIMITED Page 1 of 24 Hindustan Oil Exploration Company Limited June 12, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Hindustan Oil Exploration Company Limited Q4 and FY26 Earnings Conference Call. As a reminder, all participant lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing “star” then “zero” on your touch-tone phone. Please note that this conference is being recorded. I now hand the conference call over to Mr. Cyril Paul from EY. Thank you, and over to you, sir. Cyril Paul: Thank you. Good day, everyone, and welcome to the Q4 and FY26 Earnings Call of Hindustan Oil Exploration Company Limited. The company published its results and has uploaded the Investor Presentation on the exchanges earlier today. I trust all of you would have had the opportunity to review them. Before we start, a disclaimer. Some of the statements made in today's earnings call may be forward-looking in nature. Such forward-looking statements are subject to risks and uncertainties, which could cause the actual results to differ from those anticipated. Such statements are based on the management's beliefs and assumptions based on information currently available to management. Audiences are cautioned not to place undue reliance on these forward-looking statements while making their investment decisions. On that note, let me introduce you to the management participating with us in today's conference call. We have with us Mr. Baroruchi Mishra, Managing Director & CEO; and Mr. Allen Joseph Andrade, CFO. Without further ado, I'd like to hand over the call to Mr. Mishra. Thank you, and over to you, sir. Baroruchi Mishra: Thank you. Good morning, and a warm welcome to all our investors. I thank you all for joining us today for our earnings call for the quarter and year ended March 31, 2026. It's indeed a privilege to address you in my capacity as the Managing Director and the CEO of Hindustan Oil Exploration Company Limited. This is my first call with you, and I'm very excited about this session. Today, HOEC stands at a pivotal inflection point in its journey. Over the past years, we have systematically built a diversified and balanced portfolio of producing, development and exploration assets across India's key hydrocarbon basins. As a result, we are uniquely positioned with a compelling and rare combination of 4 things: number one, established production and stable cash flows; number two, multiyear near-term development opportunities, meaning it has a very clear line of sight and significant upsides in the reserves. Our 3P reserves, and you will see those in the slides that have been sent to you are over 100 MMBOE, and strong alignment in the India's increasing focus on energy security. So our strategic priorities remain clear and unwavering. We want to maximize value from our existing producing assets and that is very important because a lot of that is low-hanging fruits and accelerate monetization of discovered resources. Page 2 of 24 Hindustan Oil Exploration Company Limited June 12, 2026 In that way, we also want to improve or enhance our operational efficiency through technology and disciplined execution. Capital efficiency is key for us. Therefore, looking ahead, the next 3 years are expected to be transformational for HOEC. We have an active pipeline comprising multiple drilling campaigns. So, as we speak, we would have 20 wells, which are in various stages of being prepared for execution, infrastructure expansion initiatives, and a production ramp-up planned across our offshore and onshore assets. So, HOEC has been professionally managed. What we have done today is we have raised that competency to a new level where we have tried to get the industry bests to be in our leadership team. So we have been joined by 3 very capable individuals. The first one is our CFO, Mr. Allen Joseph Andrade. He is the Chief Financial Officer with 40 years of experience across British Gas and Shell India and a deep expertise in oil and gas joint ventures. The second individual is Mr. Sanjay Kundu, who is the Head of our Offshore Operations with 30 years of experience spanning Shell and BG across U.K. and India, including deep offshore operations. The third individual is Parthasarathy Bandopadhyay. He is our Principal Reservoir Consultant with 30 years of experience across India, British Gas, PTTEP in Total in Thailand and the World Bank. And of course, we continue to have a very capable individual, Mr. Krishnan Raghavan, who is our Chief Technology Officer, and has a lot of experience across the globe, but also in HOEC and both the Eastern and the Western blocks in India. So our immediate priority is to embed a high-performance execution culture underpinned by strong governance, uncompromising safety standards and a disciplined capital allocation. Reflecting on the past year, FY26 was both significant and challenging. We have learned from all the challenges, and we are in the process or we have overcome quite a lot of these challenges. On the positive side, we achieved continued production from our core assets, albeit that we had some upsets once in a while, but that is the nature of the beast. Meaningful progress in development planning and advancement of key drilling programs, and we'll talk about those when we talk about on the slides and strengthening of our technical organization, which you just saw, and we have a lot more at the next levels in the organization where we have strengthened capability and competency and progress on infrastructure and monetization initiatives. But at the same time, we faced a number of operational and commercial challenges. I have a few that you probably would know, but even so, let me draw your attention to a few of those. We had delays in certain monetization initiatives, which essentially means drilling wells, doing workovers, etcetera. That was driven by some of our ability to complete our commercial settlement on the sale of crudes, etcetera, and we'll talk a little bit of those because they are highlighted items. Infrastructure constraint, especially in the East, pipeline infrastructure constraints, and we are happy to talk about those as well. [Showing first 8,000 characters — download PDF for full document]