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Coro Energy Plc Investor Presentation Q1 Q1 2020 Plc Energy Coro Q1 Presentation Investor Disclaimer

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Coro Energy Plc Investor Presentation Q1 Q1 2020 Plc Energy Coro Q1 Presentation Investor Disclaimer Q1 2020 CORO ENERGY PLC PLC ENERGY CORO INVESTOR PRESENTATION Q1 INVESTOR PRESENTATION Q1 PRESENTATION INVESTOR DISCLAIMER The information contained in this document (“Presentation”) has been prepared by Coro Energy plc (the “Company”). While the information contained herein has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers give, have given or have authority to give, any representations or warranties (express or implied) as to, or in relation to, the accuracy, reliability or completeness of the information in this Presentation, or any revision thereof, or of any other written or oral information made or to be made available to any interested party or its advisers (all such information being referred to as “Information”) and liability therefore is expressly disclaimed. Accordingly, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers take any responsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tortious, statutory or otherwise, in respect of, the accuracy or completeness of the Information or for any of the opinions contained herein or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this Presentation. CORO ENERGY PLC PLC ENERGY CORO This Presentation may contain forward-looking statements that involve substantial risks and uncertainties, and actual results and developments may differ materially from those expressed or implied by these statements. These forward-looking statements are statements regarding the Company’s intentions, beliefs or current expectations concerning, among other things, the Company’s results of operations, financial condition, prospects, growth, strategies and the industry in which the Company operates. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These forward-looking statements speak only as of the date of this Presentation and the Company does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of this Presentation. INVESTOR PRESENTATION Q1 PRESENTATION INVESTOR Neither the issue of this Presentation nor any part of its contents is to be taken as any form of commitment on the part of the Company to proceed with any transaction and the right is reserved to terminate any discussions or negotiations with any prospective investors. In no circumstances will the Company be responsible for any costs, losses or expenses incurred in connection with any appraisal or investigation of the Company. In furnishing this Presentation, the Company does not undertake or agree to any obligation to provide the recipient with access to any additional information or to update this Presentation or to correct any inaccuracies in, or omissions from, this Presentation which may become apparent. This Presentation should not be considered as the giving of investment advice by the Company or any of its shareholders, directors, officers, agents, employees or advisers. In particular, this Presentation does not constitute an offer or invitation to subscribe for or purchase any securities and neither this Presentation nor anything contained herein shall form the basis of any contract or commitment whatsoever. Each party to whom this Presentation is made available must make its own independent assessment of the Company after making such investigations and taking such advice as may be deemed necessary. In particular, any estimates or projections or opinions contained herein necessarily involve significant elements of subjective judgment, analysis and assumptions and each recipient should satisfy itself in relation to such matters. The distribution of this document in or to persons subject to other jurisdictions may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. Any failure to comply with these restrictions may constitute a violation of the laws of the relevant jurisdiction. 2 A FULL CYCLE SOUTH EAST ASIAN FOCUSSED E&P COMPANY Regional gas & oil Focussed business SHAREHOLDERS CORO ENERGY PLC PLC ENERGY CORO strategy backed by: development team 4% Supply/demand imbalance Positioned to benefit from rapidly changing environment Strong local gas markets in SE Asia 7% INVESTOR PRESENTATION Q1 PRESENTATION INVESTOR Scarcity of credible small PSC in Indonesia with 19% cap operators discovered resource Close to market for early monetisation 25% Experienced and Large exploration upside in successful founder West Natuna and Malaysia group 45% Directors with experience A FULL in mid-cap E&P CYCLE SOUTH Management with deep EAST ASIAN regional experience FOCUSSED E&P COMPANY RETAIL LOMBARD ODIER CONRAD CIP OTHER PETROLEUM LTD 3 BOARD OF DIRECTORS James Parsons James Menzies Andrew Dennan Non-Executive Chairman Chief Executive Officer Chief Financial Officer Non- executive Chairman of Echo Energy Plc, Founder & CEO of Salamander Energy plc Over 10 years’ experience in capital markets PLC ENERGY CORO Executive Chairman Regency Mines Plc, Executive (sold in Feb 2015) Leading proprietary investment decisions, capital Chairman Ascent Resources Plc (proposed). Extensive experience of building & monetising raising, risk oversight and portfolio management Over 20 years’ experience in the fields of strategy, asset portfolio in Thailand, Indonesia & Malaysia BSc (Hons) degree in Actuarial Science from management, finance and corporate development BSc (Hons) Geology, MSc Geophysics City University, London Qualified accountant and has a BA Honours in & Planetary Physics Q1 PRESENTATION INVESTOR Business Economics Fiona MacAulay Marco Fumagalli Nick Cooper Non-Executive Director Non-Executive Director Non-Executive Director Chairperson at Independent Oil and Gas and Managing Partner at Continental Non-executive director at Siccar Point Energy Non- Executive director at Echo Energy Plc Investment Partners Formally CEO of Ophir Energy plc from 2011-18 Formerly CEO at Echo Energy Plc Non-Executive director at Merchant Capital Ltd and CFO and co-founder of Salamander Energy and COO at Rockhopper plc from 2005-2011. Qualified accountant with a degree in Business Chartered Geologist and European President of Administration from Bocconi University in Milan Began his career as a geophysicist with BG and BOARD OF the American Association of Petroleum Geologists Amoco. Goldman Sachs oil and gas team 1999-2005. DIRECTORS BSc and PhD in Geophysical Sciences and an MBA from INSEAD 4 WHY SOUTH EAST ASIA? INCREASING DEMAND SOUTH EAST ASIA AND EUROPE IN COMPARISON CORO ENERGY PLC PLC ENERGY CORO SE Asia Europe POPULATION 1.0% INVESTOR PRESENTATION Q1 PRESENTATION INVESTOR GROWTH -0.3% GDP 4-6% GROWTH* 1-2% ENERGY 4.0% DEMAND GROWWTH** -0.3% *AVERAGE ANNUAL GROWTH UNTIL 2025 WHY SOUTH **AVERAGE ANNUAL GROWTH UNTIL 2040 EAST ASIA? 5 SOURCE: WORLD BANK, OECD IEA WHY SOUTH EAST ASIA? WHILE SUPPLY IS FALLING Indigenous supply in decline as demand grows; future output increasingly dominated by gas CORO ENERGY PLC PLC ENERGY CORO SUPPLY BY REGION SUPPLY BY HYDROCARBON 8 18 INVESTOR PRESENTATION Q1 PRESENTATION INVESTOR 7 16 14 6 12 5 10 GAS 4 8 MILLION BOE/D MILLION BOE/D MILLION 3 6 2 4 LIQUID 1 2 0 0 WHY SOUTH 2015 2020 2025 2030 2035 2040 2015 2020 2025 2030 2035 2040 EAST ASIA? AUSTRALASIA EASTERN ASIA SOUTH-EASTERN ASIA SOUTHERN ASIA SOURCE: WOOD MACKENZIE, LENS 6 WHY SOUTH EAST ASIA? Asia Pacific holds 70 billion boe of discovered but undeveloped resource WATER DEPTH RESOURCE THEME OPERATOR CORO ENERGY PLC PLC ENERGY CORO INVESTOR PRESENTATION Q1 PRESENTATION INVESTOR ONSHORE SHELF CONVENTIONAL DEEPWATER NOCS MAJORS DEEPWATER ULTRA- LNG UNCONVENTIONAL LARGE & OTHERS DEEPWATER MID CAPS ACID/SOUR GAS WHY SOUTH ~75% onshore Close to half conventional More than 1/2 held by majors... EAST ASIA? and shallow water but this is changing 7 SOURCE: WOOD MACKENZIE, LENS INDEPENDENT E&P STRATEGY IN SE ASIA TRIED AND TESTED MODEL HUB STRATEGY WELL SUITED TO SE ASIA LARGE OPERATED EQUITY PARTICIPATION CORO ENERGY PLC PLC ENERGY CORO ENHANCED TECHNICAL INSIGHT INCREASED ACCESS TO OPPORTUNITIES OPERATIONAL FLEXIBILITY CONTROL TIMING/SPEND FINANCIAL SYNERGIES PARTIAL SELL DOWN FURTHER UP THE VALUE CURVE CAPITAL RETURN Q1 PRESENTATION INVESTOR TO SHAREHOLDER PICK UP SURROUNDING SURROUNDING ACREAGE OPPORTUNITIES IN SAME BASIN PORTFOLIO OF HUB POSITIONS STEP-OUT LOW RISK EXPLORATION EXPLORATION USING SUBSURFACE KNOWLEDGE CAPITAL REDEPLOYMENT BROWN/ ADD VALUE THROUGH DEVELOPMENT / HUB GREEN FIELD VALUE RESOURCE DISCOVERED DEVELOPMENT REDEVELOPMENT STRATEGY COMMERCIALISATION 8 DEVELOPMENT MATURITY FALLOW DISCOVERIES HAVE BEEN A SOURCE OF GREAT VALUE FOR INDEPENDENTS WEST DESARU, 40MMbo HESS PLC ENERGY CORO MALAYSIA PETROFAC 85MMbo CENDOR, HESS MALAYSIA PETROFAC DISCOVERY INVESTOR PRESENTATION Q1 PRESENTATION INVESTOR JASMINE, 55MMbo HARRODS ENERGY PRODUCTION THAILAND PEARL ENERGY START UP BUALAUNG, SUN OIL 85MMbo LONG FALLOW THAILAND SALAMANDER PERIODS COMMON BERTRAM, 25MMbo HESS MALAYSIA LUNDIN LOW COST, CONVENTIONAL BUA BAN, 100MMbo SHALLOW WATER PREMIER OIL THAILAND COASTAL ONSHORE KERENDAN, 600BCF UNOCAL INDONESIA SALAMANDER MIDCAP 25MMbo SUCCESS GALOC, CITIES SERVICES PHILIPPINES OTTO 1980 1985 1990 1995 2000 2005 2010 2015 9 MAKO GAS FIELD, DUYUNG
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