Media Interaction9th October, 2020

Oil and Natural Gas Corporation Ltd

1

Disclaimer

• This presentation does not provide individually tailored advice but is an effort to express views that may be considered debatable, andmay not conform to different views on the topic and does not contain any information of strategic nature emerging from the ONGCgroup of Companies.

• The Company has prepared this presentation based on information available to it, including information derived from public sourcesthat have not been independently verified. While reasonable efforts have been made to provide reliable information through thispresentation, no representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness,completeness or reliability of the information, opinions or conclusions expressed herein. Neither the Company nor anyone else acceptsany liability whatsoever for any loss, howsoever, arising from use or reliance on this presentation or its contents or otherwise arising inconnection therewith.

• This presentation had been prepared without regard to any pressure group, institution/ lobby on international affairs or relations and isnot meant to aim at any individual, institution, group, country, government or political representatives, its ideology, thinking orprophesy.

• This presentation is not intended to be relied upon as advice to investors or potential investors and does not take into account theinvestment objectives, financial situation or needs of any investor. The information contained herein does not purport to be all-inclusiveor to contain all of the information a prospective or existing investor may desire. All investors should conduct their own investigationand analysis of the Company and consider such factors in consultation with a professional advisor of their choosing when deciding if aninvestment is appropriate.

• This presentation may contain forward looking statements including statements regarding our intent, belief or current expectations.While due care has been used in the preparation of forecast information, actual results may vary in a materially positive or negativemanner.

2

COVID - 19

Multi-layered, complex and evolving challenges on a daily basis – a situation that is unprecedented for our times

ONGC RESPONSE

3

COVID - 19

Immediate bar on foreign visits by employees (both official and private)

Self quarantine mandated for employees returned from abroad

Restrictions on domestic tours, travels and transfers

Committee headed by Director (Offshore) constituted to prepare contingency plans for evacuation

in case of COVID19 case at Offshore

4

• OCAY Desk (ONGC Covid19 Assistance for You): a 24x7 Helpdesk

• ‘Operation Nishtha’, to replenish and change operational crews (stranded for 50-60 days)

• Charter-hiring of aircraft from Air India for mobilizing the crew and maintain continuity ofoperations

• SOPs formulated for crew change, and for Onshore sites/Offshore sites/Plants and forResidential Complexes / Hospitals and dispensaries

• Continuous engagement of top management with field , asset and basin executivesProactive Response • Virtual Meeting platforms made accessible to ONGC users (e.g. Microsoft teams, Cisco

WebEx and Sametime) to facilitate virtual meetings

• Drilling Operation in Onshore continued on Rigs deployed at highly critical wells; Rigs deployed at wells where operations were non-critical and were facing Logistics issues due to restrictions on movement were secured with appropriate SOPs

COVID - 19

5

• Meetings being conducted through video conferencing & virtual platforms

• Physical meetings only for jobs requiring unavoidable presence

Meetings Trainings Travel Future preparedness

• Online training startedduring lockdown

• Annual Training Calendar 2020-21 reworked to include 100% online trainings

• Since April 2020: More than 220 Online training programs covering 7664 employees & 57,943 training days

• Official Travel restricted for operational needs only

• Digital infrastructureand ERP system being upgraded

• Integrated Share Service Center being introduced

• Organization wide focus on Re-skilling, Capacity Building & Leadership development

COVID - 19

6

New Way of Working

Contribution towards Society

ONGC donated Rs.300 Crore to PM CARES Fund

Around Rs.25 Crore worth of CSR projects implemented by different Work Centres for the benefit of local populace

More than 44 lakh people benefitted till date

Major activities: Distribution of Food / Ration kits / Masks / PPE kits / Sanitizers & funding 39 Ventilators

COVID - 19

7

COVID - 19

Employees voluntarily contributed Rs. 30 Crore from salary8

ONGC: Crude price realizationONGC’s crude oil price realization moved in tandem with global decrease in oil pricesdue to OPEC+ price war and demand reduction due to COVID-19.

Crash in Crude Oil Price

Oil prices have recovered since March’20 and presently above $40 per barrel

71.00 70.01

62.37 63.6359.35 61.72 59.70 62.53 65.50 64.31

54.63

33.36

19.90

30.60

40.63 43.35 44.19

69.12 68.36

61.77 62.86

57.5360.49

56.4959.76

63.19 61.88

54.51

32.46

19.97

27.31

38.1641.67 42.93

Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20

Cru

de o

il pri

ce (

$/b

bl)

Indian Basket vs ONGC Crude Price Realization

Indian Basket ($/bbl) ONGC crude price realization ($/bbl)

9

Presentation Overview

1 ONGC

3

2

4

ONGC Group

6

Overseas operations

Responsible Corporate

5 Beyond E&P

Refining

7 Rankings & Awards

10

1 ONGC

3

2

4

ONGC Group

6

Overseas operations

Responsible Corporate

5 Beyond E&P

Refining

7 Rankings & Awards

11

ONGC: Exploration & Monetization of Discoveries

12 Hydrocarbon Discoveries (7 Onshore; 5 Offshore)

22 discoveries monetized including 4 discoveries made during the year

Six more discoveries notified so far in current year12

12

17

22

FY'18 FY'19 FY'20

Discoveries monetized during the year

53.21 MMTOE of 2P Reserves accreted

RRR of > 1 for 14th consecutive year –contributing to operations sustainability

92 100 119 105 106

293

401 384 411 394

FY'16 FY'17 FY'18 FY'19 FY'20

Num

ber

of W

ells

Exploratory Development

ONGC: Drilling

4th consecutive year of drilling 500 wells or more

516503501

385

500

13

22.37 22.25 22.31 21.11 20.71

21.18 22.09 23.48 24.75 23.85

FY'16 FY'17 FY'18 FY'19 FY'20

Oil(MMT) Gas(BCM)

ONGC: Standalone Production

Oil and Gas production VAP production

44.3443.55 45.79 45.86 44.57

FY'16 FY'17 FY'18 FY'19 FY'20

Others*

C2-C3

LPG

HSD

SKO

Naptha

3,2352,955

3,3863,641 3,548

14

ONGC: Contribution to India’s Production

69.20 67.91 68.33 67.07

63.35

48.46 48.80 50.05 50.0448.25

70.0%

71.9%73.2%

74.6%

76.2%

50.0%

55.0%

60.0%

65.0%

70.0%

75.0%

80.0%

25.00

35.00

45.00

55.00

65.00

75.00

85.00

95.00

FY'16 FY'17 FY'18 FY'19 FY'20

India (O+OEG) ONGC (O+OEG) % Share (O+OEG)

* Percentage share of ONGC oil & gas production (including condensate & JV share of ONGC) in the country.

15

ONGC : Standalone Financials

Gross Revenue (Rs. Crore) PAT (Rs. Crore)

FY’20: Revenue Rs. 96,214 Crore; PAT Rs. 13,445 Crore

77,742 77,90885,004

1,09,655

96,214

FY'16 FY'17 FY'18 FY'19 FY'20

16,14017,900

19,945

26,765

13,445

FY'16 FY'17 FY'18 FY'19 FY'20

Net profit impacted due to low oil & gas prices and for booking impairment loss considering long term crude oil price of US$45/bbl

16

77742

77908

85004

109655

96214

0 20000 40000 60000 80000 100000 120000

FY'16

FY'17

FY'18

FY'19

FY'20

Revenue from Operations

28149.6

26437.2

30401

42521

28091

0 10000 20000 30000 40000 50000

FY'16

FY'17

FY'18

FY'19

FY'20

Profit Before Interest, Tax & Exceptional Items

1324

1222

1509

2492

2824

0 500 1000 1500 2000 2500 3000

FY'16

FY'17

FY'18

FY'19

FY'20

Finance Cost

Year Realized Crude Price ($/bbl)

FY’20 58.61

FY’19 68.19

FY’18 55.19

FY’17 50.30

FY’16 47.10

23599

25216

28893

40029

20369

0 10000 20000 30000 40000 50000

FY'16

FY'17

FY'18

FY'19

FY'20

Profit Before Tax

ONGC : Standalone Financials

17

3227

0

0

0

4899

0100020003000400050006000

FY'16

FY'17

FY'18

FY'19

FY'20

Exceptional Item

With improvement of crude prices, part of Impairment / Exceptional Item in 2015-16 was reversed in following years

ONGC : Standalone Financials

96,214

28,091 25,268 2036913445

2,8244,899

6924

0

20,000

40,000

60,000

80,000

1,00,000

1,20,000

Revenue

from

Operations

Profit

before

Interest and

Tax

Finance

Cost

Profit

Before Tax

and

Exceptional

Item

Exceptional

Item

Profit

Before Tax

Corporate

Tax

PAT

FY'20

1,09,655

42,521 40,029 4002926765

2,492 0

13265

0

20,000

40,000

60,000

80,000

1,00,000

1,20,000

Revenue

from

Operations

Profit

before

Interest and

Tax

Finance

Cost

Profit

Before Tax

and

Exceptional

Item

Exceptional

Item

Profit

Before Tax

Corporate

Tax

PAT

FY‘19

Impairment loss of Rs. 4,899 Crore charged considering long term oil price of US$45/bbl - adversely impacting PAT

FY’20: Revenue Rs. 96,214 Crore; PAT Rs. 13,445 Crore

Crude oil price net realization : 58.61 US$/bbl Crude oil price net realization : 68.19 US$/bbl

18

45.1%43.4% 42.5%

32.9%

46.8%

54.2%52.2% 51.1%

39.7%

56.4%

30%

40%

50%

60%

70%

FY'16 FY'17 FY'18 FY'19 FY'20

Payout % without Tax Payout % with Tax

ONGC: Dividend

# Adjusted for bonus of 1:2 in FY’17

54.79%

with

buyback

Dividend Dividend pay-out ratio

FY’20: Dividend Rs. 6,290 Crore; Dividend payout ratio : 56.4% (incl. DDT)

7,272 7,764 8,470 8,8066,290

1,4801,579

1,728 1,810

1,293

5.676.05

6.607.00

5.00

0.00

1.00

2.00

3.00

4.00

5.00

6.00

7.00

8.00

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

FY'16 FY'17 FY'18 FY'19 FY'20

Dividend (Rs. Crore) Tax on Dividend (Rs. Crore)

Dividend per share(Rs.)

# #

19

ONGC: Human Resources

29,200 Regular employees Oct 2020

22,852 Technical personnel (78%)

18,337 Executives(62.8%)

10,863 Non-executives(37.2%)

2149 women employees(7.4 %)

20

In 2019-20: 20460 employees trained 992 training programs 1,81,363 training Days

Capacity Building

Last 5 years:

Average Employee Age: Decreased from 46.5 years to 42.8 years

Women Employees Percentage: Increased from 6.6% to 7.4%

ONGC: Growth Pursuits

Aggressive Investment in Upstream• E&P expenditure of about Rs. 1,50,000 Crore in last 5 years• 11 Projects costing Rs. 21,882 Crore completed during FY’20; three of them

ahead of schedule

15 Projects (>100 Crore) under execution *• 9 Development and 6 Infrastructure Projects - Investment more than

Rs. 59,000 Crore

• Envisaged lifecycle Gain of 121 MMTOE

* As on 30th September 2020

21

Upstream: DomesticUpstream:

International

Downstream &

PetrochemicalsRenewables

Production (MMTOE/year)

Production (MMTOE/year)

Downstream Capacity (MMTPA / year)

Capacity (GW)

50

70

2019 2040

15

40

2019 2040

35

100

2019 2040

0.2

10

2019 2040

ONGC Energy Strategy 2040: The strategic blueprint of ONGC for its future

ONGC Energy Strategy 2040

Continued long term focus amidst current downturn22

1 ONGC

3

2

4

ONGC Group

6

Overseas operations

Responsible Corporate

5 Beyond E&P

Refining

7 Rankings & Awards

23

A Maharatna PSU

Produces ~ 76% of domestic O+OEG

Holds ~ 60% of domestic reserves

Redefining Value Chain through Petrochemicals

OPaL – One of the Largest Dual Feed Crackers in the World

OMPL – World-class Aromatic Petchem Complex

Beyond E&P

OTPC – 726.6 MW Gas based Power Plant

Petronet LNG – India’s largest LNG importer

Renewables – 153 MW Wind Power & 25 MW Solar Capacity

Vertically Integrated – Refining & Marketing

HPCL & MRPL – Over 35 MMT of refining capacity

Extensive Network – 16,483 Retail Outlets

ONGC - A Vertically Integrated Energy Company

24

ONGC Group: Reserves as on 1st April 2020 (MMTOE)

MMTOE Oil Gas Total

ONGC 344.96 406.76 751.72

PSC JV 14.52 6.11 20.64

ONGC Videsh 238.99 347.92 586.91

Total 598.48 760.78 1359.26

2P Reserves as on 1st April 2020 = 1,359.26 MMTOE

25

22.36 22.25 22.31 21.11 20.71

21.18 22.09 23.48 24.75 23.85

3.57 3.293.13 3.12

2.641.35 1.18

1.13 1.061.04

5.518.43

9.35 10.109.76

3.41

4.374.81 4.73

5.23

FY'16 FY'17 FY'18 FY'19 FY'20

ONGC(Oil) ONGC(Gas) PSC-JV(Oil) PSC-JV(Gas) ONGC Videsh(Oil) ONGC Videsh(Gas)

ONGC Group: O+OEG Production (in MMTOE)

57.38

61.6164.21 64.87 63.23

26

ONGC Group: Financials

4,53,6834,25,001

FY'19 FY'20

33,938

11,560

FY'19 FY'20

Revenue (Rs. Crore) PAT (Rs. Crore)

• Upstream: Decrease in PAT mainly due fall in crude prices, impairment to factor in estimated future crude oil & natural gas prices,

• Downstream: Profit reduced due to impact of inventory losses due to fall in crude prices and exchange rate fluctuations.

27

1 ONGC

3

2

4

ONGC Group

6

Overseas operations

Responsible Corporate

5 Beyond E&P

Refining

7 Rankings & Awards

28

ONGC Videsh

Exploration: 16 Development: 4 Producing: 14 Pipeline: 3

Libya 1

South Sudan 2

Mozambique 1

Venezuela 1 1

Colombia 6 1

Brazil 1 1

Syria 1 1

Iraq 1

Iran 1

UAE 1

Israel 1

Middle East

Latin America

Africa

Vietnam 1 1

Myanmar 2 2 2

Bangladesh 2

South East Asia

Azerbaijan 1 1

Russia 3

Kazakhstan 1

CIS & Russia

ONGC Videsh, a wholly owned subsidiary of ONGC with 37 projects in 17 countries

29

ONGC Videsh: Performance

2P Reserves of 587 MMTOE

(as on 01.04.2020)

596

704 711676

587

FY'16 FY'17 FY'18 FY'19 FY'20

ONGC Videsh 2P reserves (MMTOE)

5.51

8.439.35 10.10 9.75

3.41

4.37

4.814.73 5.23

FY'16 FY'17 FY'18 FY'19 FY'20

Oil (MMT) Gas (BCM)

Highest production of 14.98 MMTOE during FY’20

8.92

14.8314.16

12.80

14.98

30

ONGC Videsh: Financials

Turnover (Rs. Crore) PAT (Rs. Crore)

FY’20: Turnover Rs. 15,538 Crore*; PAT Rs. 454 Crore

10,080 10,418

14,632 15,538

FY'17 FY'18 FY'19 FY'20

757

981

1,682

454

FY'17 FY'18 FY'19 FY'20

* Operational Revenue

31

ONGC Videsh: Financials

Decline in profitability mainly on account of lower crude oil price and impairment.

15,538

7,718 6,802

3,675454

916

3,127

3240

Revenue

from

Operations

Profit

before

Interest

and Tax

Finance

Cost

Profit

Before Tax

and

Exceptional

Item

Exceptional

Item

Profit

Before Tax

Corporate

Tax

PAT

FY'20

14,632

8,2536,825

5,249 1682

1,428

1,576

3569

Revenue

from

Operations

Profit

before

Interest

and Tax

Finance

Cost

Profit

Before Tax

and

Exceptional

Item

Exceptional

Item

Profit

Before Tax

Corporate

Tax

PAT

FY‘19

FY’20: Turnover Rs. 15,538 Crore; PAT Rs. 454 Crore

32

1 ONGC

3

2

4

ONGC Group

6

Overseas operations

Responsible Corporate

5 Beyond E&P

Refining

7 Rankings & Awards

33

Hindustan Petroleum Corporation Ltd. (HPCL)

• # 1 Lube Marketer and # 2 LPG marketer of India

• Highest export of lubes during FY’20

• Commissioned First overseas retail outlet in Bhutan

• Commissioned record number of 1,194 new retail outlets

and 245 new LPG distributorships during FY’20

• Both refineries upgraded to produce BS-VI grade MS & HSD

34

HPCL – Performance

FY’20: Highest ever sales volume of 39.6 MMT

Domestic sales of Petrol increased by 4.7% and LPG sales grew by 7.3%

2,43,227

2,95,713 2,86,250

FY'18 FY'19 FY'20

18.28 18.4417.18

FY'18 FY'19 FY'20

6,3576,029

2,637

FY'18 FY'19 FY'20

Throughput (MMT) Gross Sales (Rs. Crore) PAT (Rs. Crore)

• Decrease in Net Profit is mainly because of impact of inventory losses due to sharp fall in crude prices and exchange rate fluctuations

35

Mangalore Refinery & Petrochemicals Ltd. (MRPL)

• Commenced production of BS-VI grade compliant Motor Spirit and High Speed Diesel

• Raised Rs. 2,560 Crore through its maiden issue of Non-Convertible Debenture (NCD) during Jan 2020

• Issue has been rated AAA by ICRA and CRISIL and received good response from Market

• MRPL and Mitsui entered into a non-binding MoU for setting up of 2G Ethanol Plant

36

MRPL – Performance

2,224

332

-2,708

FY'18 FY'19 FY'20

Throughput (MMT) Gross Sales (Rs. Crore) PAT (Rs. Crore)

16.31 16.43

14.14

FY'18 FY'19 FY'20

63,084

72,315

60,752

FY'18 FY'19 FY'20

Main reasons for reduction in GRM/profitability are:

- Water shortage during Q1;

- landslide inside refinery during Q2; and

- Inventory losses due to sharp fall in crude prices and exchange rate fluctuations37

1 ONGC

3

2

4

ONGC Group

6

Overseas operations

Responsible Corporate

5 Beyond E&P

Refining

7 Rankings & Awards

38

ONGC Petro Additions Ltd. (OPaL)

• Plant operating at full capacity

• More than 1.6 MMT in Sales of polymer and chemicals

• Hazira - Dahej Naphtha Pipeline commissioned which will reduce the feed cost to OPaL

• FY’20 Total Income: Rs. 10,207 Crore

• FY’20 Net Loss: (Rs. 2,090) Crore

One of the Largest Dual feed crackers in the world

1.1 MMTPA Feedstock integration project of ONGC (Utilizing C2, C3 and C4 gas feed and Naphtha produced by ONGC)

39

• Two products added to the revenue, namely Paraffinic Raffinate & Heavy Aromatics

• As part of capital restructuring, OMPL issued CCD amounting to Rs. 1,000 Crore in March 2020

• FY’20: Revenue from Operations was Rs. 4,954 Crore and the Company posted a loss of Rs. (1,400) Crore

ONGC Mangalore Petrochemicals Ltd. (OMPL)

Aromatic Petrochemical Complex producing Paraxylene & Benzene

40

Only dividend paying standalone gas based power generation company in India

ONGC Tripura Power Company Ltd. (OTPC)

• Meets 35% power requirement of all the North

Eastern states

• 3,885 Million Units generated

• FY’20 Total Income: Rs. 1,277 Crore

• FY’20 PAT: Rs. 71 Crore

726.6 MW (363.3x2) Combined Cycle Gas Turbine (CCGT) Thermal Power Plant

41

Petronet MHB Limited (PMHBL)

• In Mar’20, ONGC and HPCL each acquired additional

17.28% of equity shares held by eight banks

increasing shareholding to~ 49.996% each.

• FY’20 performance:

• Throughput 2.925 MMTPA

• Total Income: Rs. 162 Crore

• PAT: Rs. 88 Crore

Mangalore – Hassan – Bengaluru JV pipeline (362.3 Km) transporting products from MRPL to OMCs hinterland of Karnataka in cost effective and environment friendly manner.

42

Other Initiatives

•Captive Solar Power:

Added 13 MW of captive solar power capacity in FY’20

Another 6.09 MW capacity installed in current year taking total to 31 MW

•Energy saving measures:

Most lights across various work centres changed to energy efficient lights

Resulted in energy saving of approx. 52MU per annum - monetary savings of about Rs. 36 Crore annually

• Innovation: Uran Plant increased C2-C3 production by 200 MT/day regaining annual revenue of about Rs. 175 Crore

Attained process chilling in Ethane Propane Recovery Unit (EPRU) during non-availability of Propane compressor

•Renewable Energy:

Total installed capacity as on 31st March, 20 is 178 MW.

ONGC and NTPC have signed an MOU to set up Joint Venture for Renewable Energy Business

43

1 ONGC

3

2

4

ONGC Group

6

Overseas operations

Responsible Corporate

5 Beyond E&P

Refining

7 Rankings & Awards

44

CSR Expenditure > Rs.500 Crore in last 4 yrs

ONGC is pursuing a number of major projects such as setting up Educational

Institutes, Hospitals, etc.

Corporate Social Responsibility

421

526 503

615 607

0

175

350

525

700

FY'16 FY'17 FY'18 FY'19 FY'20

CSR Spend (Rs. Crore)

45

Championing Sports in the country

✤Padma Bhushan = 1 ✤Padma Shri = 6

✤Khel Ratna = 2 ✤Arjuna Award = 44 ✤Dhyan Chand Award = 2

ONGC Sportspersons have won 55 National

Awards till date

Recognitions & Awards 2020★Rashtriya Khel Protsahan Puruskar by Hon’ble President of India★Arjuna Award – 3 (Vishesh Bhriguvanshi, Ishant Sharma & Madhurika Patkar)

★Dhyan Chand Award – 1 (Manpreet Singh)

46

1 ONGC

3

2

4

ONGC Group

6

Overseas operations

Responsible Corporate

5 Beyond E&P

Refining

7 Rankings & Awards

47

Rankings & Awards *

#11 in Platts Global 250 # 190 in Fortune Global 500

# 269 in Forbes Global 2000

S&P Platts Global Energy Awards 2019 - for Corporate Social Responsibility

FIPI Oil & Gas – Exploration Company of the Year 2019 award

48* Ranking are of 2020 and awards of 2019

Thank You

49