Press Release_MedcoEnergi First Half 2026 Results.pdf

 PT Medco Energi Internasional Tbk                                     Tel +62-21 2995 3000
 The Energy 53rd Fl., SCBD Area Lot 11 A                               Fax +62-21 2995 3001
 Jl. Jend. Sudirman, Jakarta 12190                                     www.medcoenergi.com




                                       MedcoEnergi Reports Solid Performance in First-half 2026

Jakarta, 21 September 2026 – PT Medco Energi Internasional Tbk (“MedcoEnergi” or the “Company”) today announced
its audited financial results for the first-half of 2026. During the period, the Company delivered solid performance, with
first-half oil and gas production reaching 170 thousand barrels of oil equivalent per day (mboepd), in line with its 2026
guidance, with gas accounting for approximately 72% of total production. This achievement was supported by the
performance of the Company’s oil and gas assets, including production from the Corridor Block following the additional
participating interest, production performance from the Forel and Terubuk fields in the South Natuna Sea Block B,
development drilling at the Bualuang field in Thailand, completion of the Bisat C project in Oman Block 60, and the full
contribution from the Senoro Phase 2A project.

Ronald Gunawan, CEO of MedcoEnergi, said the first-half results reflected the Company’s reliable project execution
and production operations management. “Our focus throughout the first-half was to ensure that our key assets operated
optimally and that development projects progressed according to schedule. Senoro Phase 2A reached full operation in
June, while Sakakemang remains on track for first gas in the third quarter of 2027. These are the foundations for our
future growth,” said Ronald. During the period, the Company also signed Production Sharing Contracts (PSCs) for the
Nawasena Block in East Java and the Cendramas Block in Malaysia, where the Company was appointed as operator,
marking its first production operations in Malaysia.

The Power segment recorded electricity sales of 2,323 GWh, higher than the same period last year, supported by the
reliable operations of Dalle Energy Batam (DEB), the expansion of Energi Listrik Batam (ELB), and the operation of the
East Bali Solar PV project. Renewable energy accounted for approximately 25% of total electricity sales, in line with the
Company’s energy transition strategy. Meanwhile, the Company’s copper and gold mining investment in PT Amman
Mineral Internasional contributed positively, supported by the smelter operating at full capacity.

Financially, MedcoEnergi recorded revenue of US$1,415 million, while EBITDA was US$805 million and gross profit
was US$588 million. Oil and gas cash production costs were maintained at US$8.4 per barrel of oil equivalent, below
this year’s guidance. First-half net income attributable to owners of the parent entity was US$275 million, improving from
the same period last year, driven by higher oil and gas production, improved global oil prices, and the contribution from
Amman Mineral following the smelter’s full operation. At the end of June, consolidated debt stood at US$4,128 million,
with cash and cash equivalents of US$1,402 million. Net debt to EBITDA for the Restricted Group1 was maintained at
1.4x, below the 2.5x guidance based on a mid-cycle oil price of US$65 per barrel. The Company’s idAA- credit rating
from Pefindo, as well as its international ratings from Fitch, S&P, and Moody’s, were maintained.

MedcoEnergi maintains its 2026 performance guidance, targeting oil and gas production of 165-170 mboepd, electricity
sales of 4,550 GWh, and oil and gas cash production costs below US$10 per barrel of oil equivalent. In line with the
Company’s commitment to investing in value-accretive growth opportunities, MedcoEnergi has increased its 2026
capital expenditure guidance to US$450-475 million for the Oil & Gas segment and up to US$50 million for the Power
segment. (*)

 PT Medco Energi Internasional Tbk (“MedcoEnergi”) is a leading Southeast Asian energy and natural resources company listed on the Indonesia Stock Exchange
 (MEDC-IDX). MedcoEnergi has three key business segments, Oil & Gas, Power and Copper & Gold Mining. MedcoEnergi explores for and produces oil and gas
 primarily in Indonesia. The Group operates gas, PV, geothermal and hydro power plants in Indonesia through PT Medco Power Indonesia and has a non-consolidated
 interest in PT Amman Mineral Internasional Tbk which operates a large copper and gold mine in Indonesia.

 This document may contain projections, plans, strategies, policies and objectives of MedcoEnergi which should be treated as forward-looking statements within the
 meaning of applicable law. Forward-looking statements, by their nature, involve risks and uncertainties that could cause actual results to differ materially from those
 expressed or implied in these statements. The Company does not guarantee that any action taken in reliance on this document will bring specific results.

                                                                For further information please contact:
                                      Corporate Secretary | Investor Relations | Tel: (62-21) 2995 3000, Fax: (62-21) 2995 3001
                                       Email: corporate.secretary@medcoenergi.com | investor.relations@medcoenergi.com
                                                                  Website: www.medcoenergi.com




 1
     Annualized and excluding PT Medco Power Indonesia (“MPI” or “Medco Power”) and PT Medco LNG Indonesia ("MLI")