The Israel Land Development Company Ltd.

REPORT ON PAYMENTS TO GOVERNMENTS FOR THE YEAR ENDED JUNE 30, 2024

INTRODUCTION

Oil and Gas Development Company Limited (OGDCL) has prepared the following report on payments to governments ('Report') for the year ended June 30, 2024 in accordance with the Reports on Payments to Governments Regulations 2014 (2014/3209), as amended by the Reports on Payments to Governments (Amendment) Regulations 2015 (2015/1928), (the 'Regulations'). The Report also addresses OGDCL reporting obligations under DTR 4.3A of the Financial Conduct Authority Disclosure Guidance and Transparency Rules. The 'Basis of Preparation' section below contains information about the content of the Report, the types of payments included and the principles that have been applied in preparing the Report.

BASIS FOR PREPARATION

Activities

Payments made by OGDCL to governments arising from activities involving the exploration, prospection, discovery, development, and extraction of minerals, oil and natural gas deposits (extractive) activities are disclosed in this Report.

Government

The term "government" refers to any national, regional or local authority of a country, and includes a department, agency or entity that is a subsidiary of a government.

Project

Payments are reported at project level except that payments that are not attributable to a specific project are reported at entity level. Project is defined as operational activities which are governed by a single contract, license, lease, concession or similar legal agreement, and form the basis for payment of liabilities with a government.

Payments

The information is reported under the following payment types :

Production entitlements

Under Production - sharing agreements (PSAs), the production is shared between the government and other parties to the PSA. For the year ended June 30, 2024, there were no reportable production entitlement payments to a government.

Taxes

These are taxes paid by OGDCL on its income, profits or production. Payments are reported net of refunds. Consumption taxes, personal income taxes, sales taxes, Gas Infrastructure Development Cess, Petroleum Levy, Federal Excise Duty, procurements (Contractors withholding taxes), taxes withheld by other parties, custom duties and related penalties are excluded.

Royalties

These are payments for the rights to extract oil and gas resources, typically at set percentage of revenue less any deductions that may be taken. Any adjustment related to prior year are reported as negative amounts in the Report.

Dividends

These are dividend payments other than dividends paid to a government as an ordinary shareholder of an entity unless paid in lieu of production entitlements or royalties. For the year ended June 30, 2024, there were no reportable dividend payments to a government.

Bonuses

These are payments for Bonuses. These are usually paid upon signing an agreement or a contract, or when a commercial discovery is declared, or production has commenced or reached a milestone. For the year ended June 30, 2024, there were no reportable bonus payments to a government.

License fees, rental fees, entry fees and other considerations for licenses and/or concessions

In preparing this report OGDCL has included license fees, rental fees and all other payments that are paid in consideration for new and existing license and / or concessions. Fees paid to Governments for administration services are excluded. Payments made in return for services provided by a government are also excluded.

Infrastructure improvements

Payments related to infrastructure improvements, for example building of roads, school or hospital etc. including contribution made in respect of social welfare obligation under licenses and / or concessions are included. Payments which are of social investment in nature other than infrastructure improvements (i.e. scholarships or donations etc. for education and health etc.) & contribution made to OGDCL CSR Trust are excluded.

Operatorship

When OGDCL makes a payment directly to a government arising from a project, regardless of whether OGDCL is the operator or not, the full amount paid is disclosed even where OGDCL is proportionally reimbursed by its operating/non-operating venture partners through a partner billing process (cash-call).

Cash and in-kind payments

Payments are reported on cash basis. Refunds are also reported in the period they are received by OGDCL and are shown as negative amounts in the Report. For the year ended June 30, 2024, there were no reportable in-kind payments to a government.

Materiality Level

The Regulations require that payments made as a single payment exceeding £86,000 or as part of a series of related payments within a financial year exceeding £86,000 be included in this Report. Payments below the above stated threshold are also included in this Report.

Currency

All payments have been reported in Pakistani Rupees (PKR).

General

The Payments shown in this report are rounded to the nearest thousand (PKR).

The table below shows the relevant payments to government made by OGDCL for the year ended June 30, 2024 shown by country and department type.

Of the seven payment types required by the regulations, OGDCL did not pay any relevant production entitlements, dividends and bonuses and therefore these categories are not shown.

Concessions (DGPC)		- 59,979,340 10,257,978	358,680 70,595,998
Total	116,467,899 59,979,340 10,432,073		358,680 187,237,992

Project wise details are included in the annexure to this report.

GM Accounts

Manager Accounts

Name of Project	Taxes	Royalties	Fees	Infrastructure Improvements	Total
			-----PKR '000-----------------------------------------------------------------------------------------------------------------------------------------------------------------
Head Office	116,467,899		507		116,468,407
Kunnar		1,603,406	26		1,603,432
Pasakhi		3,615,671	3,282,755		6,898,426
Pasakhi North		256	739,894		740,150
Kunnar Deep		59,535			59,535
Bobi	I	229,244	100		229,343
Tando Alam	1	133,165	30		133,195
Thora		167,790	23		167,813
Palli	1	50,634	128		50,763
Lashari Center		259,172	310,943		570,115
Jandran - Lease			1,275	4,192	5,467
Sari/Sari Sung			120		120
Sara (Suri)	-	1,772			1,772
Misan		79			79
Daru		(955)	(1,146)		(2,100)
Sono	1	1,115,017	1,335,805		2,450,823
Buzdar			103		103
Uch		10,986,664	166,840		11,153,504
Uch-II	1	8,217,386			8,217,386
Pirkoh			105		105
Loti		1,502			1,502
Dhodak		58,509	955		59,464
Fimkassar		91,112	138,428		229,540
Kal		129,834	328		130,162
Bhal Syedan		4,305	353		4,659
Sadqal		50,628	9,948		60,576
Fatehjang	1			10,468	10,468
Missakeswal		11,869	293		12,162
Rajian	-	795,585	I	1	795,585
Toot		158,745			158,745
Dakhni		576,181	3,600		579,781
Samandar	-		4,055	11,178	15,233
Thal	1		2,564	8,384	10,949
Thal East			104		104
Thal West	I	5,984	119		6,103
Bhambhra	1		194		194
Shakardara	1		1	16,767	16,767
Soghri		555,757	1,102	13,973	570,831
Wali			9,212	8,400	17,612
Shakarganj West				2,683	2,683
Bettani		1,439,723	1		1,439,723
Bostan			1	4,460	4,460
Cholistan		1		19,405	19,405
Jandaran West			1,165	6,329	7,493
Jhelum	I	1		14,907	14,907
Lilla			1,889	2,593	4,482
Sujawal South	I			2,589	2,589
Khewari East	1		1,161	5,223	6,384
Vehari			1,990	5,229	7,219
Sutlej	D				8,687
Hazro		I	3,381 523	5,305
Nowshera	1			5,096	5,619
Qadirpur	-		1,369	3,822	5,191
Tando Allah Yar	1	2,898,507	4,353,686 105		7,252,192 116,136
	1	74,106	12	41,925
Tando Allah Yar South West		12,557			12,570

Aggo

Name of Project	Taxes	Royalties	Fees	Infrastructure Improvements	Total
			--- PKR '000 ----------
Dars			164		164
Dars West		636,281			636,281
Unhar		48,871	15	1	48,885
Chandio			127		127
Pasakhi East		3,357	1		3,357
Pasakhi East -1 (Ta. all. yar)		14,863		-	14,863
Kunnar South - 1(Ta.all.yar)		81,076		1	81,076
Shah		48,923	19		48,941
Tando Allah Yar North	1		45		45
Dars Deep		14,569			14,569
Chak Naurang		202,045	140		202,185
Hala	1
Jakhro		(22,247)	-	5,590	5,590
Zin					(22,247
Bitrism	1		4,347	7,501	11,848
Bitrisim West		3,342 120,263	7,144 55		10,486
Gundanwari					120,318
Pandhi			72		72
Chanda		1,518			1,518
		1,684,432	505		1,684,937
Chak 63 South East	1		150		150
Chak 66	1		399		399
Chak 2			340		340
Hakim Dahu	1		183		183
Chak 7A	=		96		વેદ
Lala Jamali	D		106		106
Sara West	-		3,378		3,378
Sinjhoro	=	1,933,606			1,933,606
Nashpa	1	7,277,723	7,969	41,919	7,327,611
Mela	1	594,710	606		595,316
Khewari	I		7,978	5,589	13,567
Chabaro		24,364	71		24,435
Nim East	I	145,036	I		145,036
Nim				5,590	5,590
Saand (Old Gulsher)		80,138	13		80,151
Chhutto		19		1	19
Mangrio		103,265	88		103,353
Kalchas				16,800	16,800
Guddu Block				10,479	10,479
Reti			67		67
Murradi			1,791		1,791
Maru-Reti	1	206,221	-	1	206,221
Kohat	I		1	28,145	28,145
Togh	1	901,638	76		901,714
Baratai	1		-	13,973	13,973
Dhok Hussain	1	1,142,232	73
Gawadar	1			1	1,142,304
Ranipur	1		3,623	916	3,623 916
Suleiman	1	329	183	2,592	3,104
Killa Saifullah	1		1,938		4,526
Buzdar South	1			2,588
Jabo		40,680	1		40,680
	1	15,137	I		15,137
Meyun İsmail	-	2,579	D	1	2,579
Paniro	1	10,831	1	1	10,831
Zaur	-	93,485			93,485
Jagir		38,748			38,748

Name of Project	Taxes	Royalties	Fees	Infrastructure Improvements	Total
		----PKR '000------------------------------------------------------------------------------------------------------------------------------------------------------------------
Muban	1	23,364	1		23,364
Dhurnal	1	20,548	1		20,548
Adhi	-	346,255		1	346,255
Armala	1		1,792	-	1,792
Adhi Sakesar	1	1,575,649		-	1,575,649
Kadanwari	1	1,274	1	-	1,274
Makori Deep	1	61,299	-		61,299
Makori East	M	3,219,215	1	1	3,219,215
Mardan Khel		260,398	-		260,398
Manzalai	1	1,375,094	I		1,375,094
Mami Khel		125,679			125,679
Mami Khel South		262,313	I		262,313
Maramzai		474,763	1		474,763
Bhit		11,666		1	11,666
Rehsam	I		439		439
Ratana	I	5,716	907		6,623
Pakhro	1		33		33
Pindori		106,943			106,943
Miano		183,705	1		183,705
Chaman	1	681			681
Lashari	D		181		181
Kunnar Pasakhi deep	1	2,945,629			2,945,629
Nur Bagla	1	131,229	1		131,229
Kot Nawab	-	18,162			18,162
Kunnar South			54		54
Korta East	1		1,999		1,999
Nur			2,646	1	2,646
Tanishpa			1,922		1,922
Zindan			768		768
Makori	1	(51)	1		(51)
Tolang West		59,239		12,035	71,275
Badhra		1,538	I		1,538
Lugai			1,902	12,035	13,937
Tolanj		17,254	1		17,254
Sahu
Sehwan			1,431		1,431
Baloch			229		229
Bagla			232		232
Chah Bali
Total	116,467,899	59,979,340	1,735 10,432,073	358,680	1,735 187,237,992

them.

Shussin