Corporate Update Oil Capital Conference, London 1 February 2018 Disclaimer This presentation may contain forward-looking statements. Forward-looking statements refer to events and conditions which are not historical facts and include, for example, statement concerning our objectives, goals, strategies, future events, future performance, capital expenditures, financing needs and business trends. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. You should not place undue reliance on these forward-looking statements. Any forward-looking statements are based upon information available to us on the date of this presentation. Actual results may differ materially from those anticipated in these statements. This presentation does not constitute or form part of any advertisement of securities, any offer or invitation to sell or issue or any solicitation of any offer to purchase or subscribe for, any shares in Solo Oil plc, nor shall it or any part of it nor the fact of its presentation or distribution form the basis of, or be relied on in connection with, any contract or investment decision. Corporate Presentation 2 About Solo: a diverse portfolio of investments UK: Interests in Weald Basin, including Horse Hill and licence 6.5% award on the Isle of Wight 28.6% Horse Hill Ausable, Ontario 30% Isle of Wight 7.55% CANADA: Kiliwani North Currently dormant Enhanced Oil Recovery project in Ausable 25% Ruvuma Field, Ontario Basin PSA TANZANIA: WEST AFRICA: Material stake in the prolific Strategic investment in Burj 20% Ruvuma Basin, producing Kiliwani Africa, with applications for Burj Africa North gas development on Songo field development projects in 15% Helium Songo Island and 15% equity in Nigeria One Helium One Corporate Presentation 3 Our strategy Mission Vision Investment criteria Portfolio approach to mitigate risks and provide Exploration-development-production access to multiple opportunities Principally focussed on Africa & Europe Screen numerous opportunities on an annual basis Typically seek original WI positions between 10-50% Non-operated but meaningful influence on JV Leverage equity acquired through early stage entry to fund net operating costs Seek unique opportunities with an established market Corporate Presentation 4 Investment highlights Proven track record for executing investment strategy. 5 out of 6 wells resulted in commercial discoveries Diverse portfolio of assets mitigates risks and provides multiple catalysts through active work programs Significant upside potential from high-impact exploration assets Experience Network Cash generative Low corporate and operating cost structure Corporate Presentation 5 Steady portfolio growth • First gas revenues and cash flow achieved from Kiliwani North-1 in April; • Ntorya-2 appraisal well spudded in December; and • Successful testing of Horse Hill-1 oil discovery well with combined rate over 1,600 bopd • Appraisal well Ntorya-2 successfully drilled and tested at a constrained rate of 17 mmscfd; • Significant increase to resources estimates as a result of Ntorya-2, to over 1.34 tcf gross discovered gas in place; • Filed a development plan for the Ntorya Gas Field including an early production scheme; and • Strategic investment in helium to gain access to a potentially world scale helium project in Tanzania • Further upgrade to Ntorya resources expected shortly; • Ntorya-3 appraisal well expected to spud in second quarter; • Horse Hill long-term production tests anticipated to start shortly; and • Helium One resource report update planned and potential IPO on ASX around mid-year Corporate Presentation 6 Operational & corporate priorities • Protect investment in existing • Recycle proceeds of Ruvuma • Ntorya EPS on stream and full core assets monetisation into new and development significantly existing opportunities advanced • Determine development options for Ntorya • Monetisation of the Horse Hill • Horse Hill oil production on discover by sale or early stream • Obtain a development licence for development Ntorya • Seek to monetise early stage • Drilling of high impact investment in Helium One • Initiate the monetisation of the exploration wells on the helium Ntorya development project in Rukwa • Continue to evolve portfolio, including progressing IoW and • Long-term production testing of other investments Horse Hill-1 well • Target further new investments • Advance the Helium One Rukwa as appropriate Project through technical work Corporate Presentation 7 Ruvuma Three wells drilled to date that all show hydrocarbons, with two flowing at commercial rates Onshore extension of the world scale offshore gas province in Tanzania and Mozambique Development licence applied for and a further appraisal well agreed Major market growth potential with bulk of the infrastructure already in place Corporate Presentation 8 Investment case study Solo Oil 75% Aminex 25% (operator) 2010 2011 2014 2015 2016 2017 2018 - 2019 Expected news flow: • Competent Persons Report First well Further Appraisal well program: NT-2 was • NT-3 appraisal well Likonde-1 drilled: 2D seismic acquired drilled and successfully tested. • 25-year development excellent shows for Resources increased to 1344 bcf gas in licence residual oil and gas place with further significant upside in the • Early production scheme Second well Ntorya-1 made a gas and license engineering condensate discovery of commercial • Technical work potentially CPR by Senergy: interest: including 3D seismic Potential 4.7 tcf of gas within the Ruvuma • Gas Flow 20.1 mmscfd through a 1-inch • Solo assessing options project (153 bcf of gas in place for Ntorya 1; choke; with regards to monetising some 70bcf of 2C.) Upgrade of 4 “drillable • Formation pressure of 5,424 psi; and interest in Ruvuma • Liquids Production 139 bopd of condensate targets” accounted for 3 tcf of gas in place at a gas rate of 20 mmscfd Corporate Presentation 9 Ntorya Discovery, Ruvuma Source: Aminex Source: Aminex Corporate Presentation 10 Ntorya seismic interpretation A A’ Ntorya-3 Ntorya-2 Ntorya-1 Arbitrary line through wells NT-1 – NT-2 – proposed NT-3 A A’ 4 km Albian reservoir Source: Aminex Corporate Presentation 11 A material regional source of gas supply Ntorya Resource Estimates (bcf) New Independent Resource ? Report (est. Feb 2018) Mean Updates In-house Resource Model 1,344 (Sept 2017) Mean May 2017 Resource Update post Ntory-2 success 466 (April 2017) Mean Synergy 2015 Resource Estimate post Ntorya-1 153 (May 2015) So far a ~9 fold increase in mean GIIP Source: Aminex Source: Aminex Corporate Presentation 12 Ready access to markets 500 mmscfd Infrastructure – access to market through regional Distribution network progressing in order to Chinese built/financed gas pipeline connecting satisfy a large domestic demand for natural gas Mnazi Bay to Dar es Salaam. Operational since estimated at over 500 mmscfd 2015, currently below 25% utilisation Large-scale electricity producers, other Liquids in the gas found in the discovery industrial users and major population centres to well NT-1 potentially provides access to receive the gas in fast growing economy alternate market Source: Aminex Corporate Presentation 13 Rukwa All necessary conditions for world-scale helium project are in place Technical work continues to support the 100 bcf resource estimate already independently assessed Engineering studies fully support commercial exploitation Global supply and demand dynamics are extremely compelling Corporate Presentation 14 Helium One Helium One is an First mover advantage into Helium One’s Rukwa Project in independent specialist helium market positions Solo to Tanzania has independently certified explorer focused on capitalise on an anticipated most likely unrisked prospective becoming a major supplier surge in helium demand and recoverable helium volume of 98.9 to the global helium market weak supply fundamentals billion cubic feet (“bcf”) Corporate Presentation 15 Uses and applications of helium Cryogenics (primarily in medical applications) is the largest use of the gas and accounts for around 32% of global demand 8% Used in infrastructure, such as the Large 3% Hadron Collider at CERN, which requires 120 Cryogenics 5% 23% tonnes of superfluid helium to maintain its Lifting magnets at their operating temperature and a Electronics 6% further truckload of helium each week to keep it Optical Fiber topped up Welding Helium use 6% Leak Detection by sector: Other applications include arc welding, Analytical purging, leak detection, chromatography, 15% Purging 9% super-conduction, breathing mixtures, heat Diving transfer, gas lift; and used extensively as a Other 11% purge gas in the oxygen/hydrogen propulsion 14% units used for Space rocketry and nuclear ICBMs Source: TechSci Research Google X Project Loon – “Balloon powered internet for everyone” Corporate Presentation 16 Market and demand dynamics Demand growth: Currently, crude helium Strong price growth: Price of this Current global annual The helium market now faces a demand for helium has is worth approximately increasingly important, non- consumption of 6.0 major supply shortfall in the been growing at around 30 to 50 times more substitutable, resource has bcf, an industry worth next few years. Federal Helium 3% each year and than the equivalent increased by over 95% in the past in excess of US$6 Reserve was down to 20