#1Corporate Presentation Exploring for Oil & Gas in Guyana August 2022 MAERSK DISCO MAERSK DISCOVERER cgx F energy inc#2Forward-looking Statements cgx energy inc This presentation includes "forward-looking statements", within the meaning of applicable securities legislation, which are based on the opinions and estimates of management and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate", "budget”, “plan”, “continue”, “estimate”, “expect”, “forecast”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and other similar words suggesting future outcomes or statements regarding an outlook. Such risks and uncertainties include, but are not limited to, risks associated with the offshore and onshore oil and gas industry (including operational risks in exploration development and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve and resources estimates; the uncertainty of estimates and projections in relation to production, costs and expenses; the uncertainty surrounding the ability of CGX to obtain all permits, consents or authorizations required for its operations and activities; and health safety and environmental risks), the risk of commodity price and foreign exchange rate fluctuations, the risk of CGX not being able to fund the capital and operating expenses necessary to achieve its business plan, the uncertainty associated with commercial negotiations and negotiating with foreign governments and risks associated with international business activities, as well as those risks described in public disclosure documents filed by CGX. The ability of the Company to carry out its business plan is primarily dependent upon the continued support of its shareholders, the discovery of economically recoverable reserves, the ability of the Company to secure customers for the use of its deep-water harbor upon completion of the project and the ability of the Company to obtain financing to develop such reserves. Due to the risks, uncertainties and assumptions inherent in forward-looking statements, prospective investors in securities of CGX should not place undue reliance on these forward-looking statements. Although the forward-looking statements contained in this presentation are based on assumptions that management believes to be reasonable, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. Readers are cautioned that the foregoing lists of risks, uncertainties and other factors are not exhaustive. The forward-looking statements contained in this presentation are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or in any other documents filed with Canadian securities regulatory authorities, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. The forward-looking statements are expressly qualified by this cautionary statement. www.cgxenergy.com 2#3Company Overview cgx energy inc • CGX Energy Inc. (TSX-V:OYL) is an oil and gas exploration company focused on the Guyana Basin E&P and construction of a Deep Water Port on the Berbice River. • Headquartered in Toronto, Canada with operational offices in Houston, Texas USA and Georgetown, Guyana. • CGX Energy wholly owned subsidiary, CGX Resources Inc. (CRI), holds 32% Working Interest ("WI") of the Corentyne Petroleum Prospecting License in Guyana (Corentyne PPL). • • . CGX has, in principle, reached agreements with the Government of Guyana to relinquish the Demerara and Berbice blocks through mutual termination agreements which terms remain to be defined and documented. On May 9, 2022, CGX confirmed a discovery at Kawa-1 with 228 feet (69 meters) of net pay across the Maastrichtian, Campanian, Santonian and Coniacian reservoir target intervals. • CGX, through its wholly owned subsidiary; Grand Canal Industrial Estates Inc. (GCIE), is constructing the Berbice Deep Water Port on a site north of Crab Island 4.8 km from the Atlantic Ocean. • CGX has a highly skilled and qualified management team with extensive Guyanese and industry experience. • CGX has been operating in Guyana for 23 years and is widely acclaimed as Guyana's "Indigenous Oil Company;" maintaining strong relationships with the Government and People of Guyana. • Frontera Energy Corp. (TSX: FEC), a major independent O&G Canadian company operating in Latin America, supports CGX initiatives, as a 78% equity shareholder. 1 The Company signed an agreement with Frontera on July 21, 2022 to transfer 34.667% interest in the Corentyne block to FEC: after closing, the Company will hold 32% Working Interest in the Corentyne block. The closing of the agreement is subject to certain precedent conditions including TSX-V and Government of Guyana approval. www.cgxenergy.com 3#4Company Overview 100% CGX Resources Inc. (Bahamas) 100% CGX Energy Management Corp. (Delaware) 100% CGX Resources Inc. (Guyana Registered Branch) 32% Corentyne PPL 1 66.667% Demerara PPL CGX Energy Inc. (Ontario) 100% GCIE Holdings Ltd. (Barbados) 100% Grand Canal Industrial Estates Inc. (Guyana) 100% Berbice Deep Water Port Project 62% cgx energy inc ON Energy Inc (Guyana) 100% Berbice PPL 1 The Company signed an agreement with Frontera on July 21, 2022 to transfer 34.667% interest in the Corentyne block to FEC: after closing, the Company will hold 32% Working Interest in the Corentyne block. The closing of the agreement is subject to certain precedent conditions including TSX-V and Government of Guyana approval. 2 The Company has, in principle, reached agreements with the Government of Guyana to relinquish the Demerara and Berbice blocks through mutual termination agreements which terms remain to be defined and documented www.cgxenergy.com#5CGX at a Glance cgx energy inc • The Company has a clean balance sheet and is fully funded through the Wei-1 exploration well, to be spudded in October 2022, upon closing of a recent transaction signed with its JV partner, FEC, on July 21, 2022. • • • . The July 21, 2022 transaction proposes the transfer of 34.67% of working interest in the Corentyne block to FEC in exchange of (i) up to $130.0 million funding for Wei-1 well, (ii) up to $28.8 million of certain Kawa-1 exploration well, Wei-1 well pre-drill, and other costs, (iii) $54 million of outstanding payables settled, and (iv) $3.8 million cash consideration. On closing the transaction, subject to condition precedents being satisfied, the Company will own 32% of the interest in Corentyne PA. The Company recorded a discovery on the Corentyne block at the Kawa-1 well in 2022: condensate and light oil discovered in 228 feet of pay in the Maastrichtian, Campanian, Santonian and Coniacian levels. This discovery has helped de-risk the Wei-1 well, located 14km from Kawa-1 well, raising chance of success from 29 to 56%. • Secured funding for the Wei-1 well, secured all permitting, contracted the Maersk Discoverer to drill the well, retained 95% of expert team which drilled Kawa-1. Spud expected in October 2022. • Company has spent $21.8 million to date on its Berbice Deep Water Port and is focused on the completion of the first phase of the facility in 2023. CGX was recognized as one of the top-performing companies on the TSX Venture 50 2022. (https://v50.stocktrak.com/) www.cgxenergy.com 5#6Company E&P Overview Corentyne Acreage and Activity cgx Corentyne Block In and Around Recent Discoveries CGX Offshore Acreage Position energy inc • • Corentyne Block - 845,715 acres North Corentyne - 140,850 acres Stabroek Pluma Haimara Maka Central Carapa Wei Kanuku A Ꮎ Kawa Kwaskwasi Sapakara Jaguar Eagle T CGX 2 Well Drilling Campaign in 2012 • Eagle Well Oil shows Jaguar Well Light oil recovered - CGX Corentyne Discovery 2022 • Kawa-1 Discovery in Multiple Reservoir Intervals Light oil and Condensate CGX Future Drilling Activity 2022 2022 upcoming Wei-1 Spud targeting Maastrichtian, Campanian, and Santonian Reservoirs Corentyne West Keskesi East Northern Corentyne 3D Seismic Survey 25 miles = Discoveries = Planned = CGX 2012 Wells www.cgxenergy.com 6#7CGX Working Commitments Corentyne Block Commitment Date 27 November 2019 Deliverables Acquired additional seismic or conduct seismic reprocessing cgx energy inc Status Complete 27 November 2021 Drilled 1st exploration well - Kawa-1 - Discovery Complete 27 November 2022 Drill 2nd exploration well - Wei-1 Upcoming www.cgxenergy.com 7#8• Guyana Basin E&P Derisking Basin with Discoveries Stabroek Block • Liza was the original discovery in May 2015 cgx energy inc • • • Over 11 billion barrels of recoverable oil equivalent have been discovered, with billions of barrels of undrilled potential 32 major oil discoveries to date Multiple play types: Cretaceous and Tertiary sands as well as carbonates Discoveries adjacent to CGX's Corentyne Block at Pluma and Haimara found 37 meters and 63 meters of high-quality hydrocarbon-bearing sandstone reservoir Block 58 Suriname • • • Adjacent to Northern Region of Corentyne Block, 5 discoveries were made analogous to prospects identified by CGX in its Northern Corentyne Block January 2020: significant oil discovery in Maka Central well announced offshore Suriname; discovery 7 miles from North Corentyne April 2020: Sapakara-West well announced 79 meters of net oil and gas condensate pay in two intervals; 20 miles from North Corentyne August 2020: Kwaskwasi 278 meters of net oil and volatile oil / gas condensate pay 15 miles from North Corentyne • . January 2021: Keskesi discovered oil/gas condensate pay 30 miles from North Corentyne February 2022: significant oil discovered at Krabdagu-1; drilled to approximately 17,300 ft and encountered multiple stacked pay targets in Maastrichtian and Campanian intervals with approximately 295 of net oil pay www.cgxenergy.com 8#9Corentyne Geologic Setting Reservoir Development Schematic Fan Lobe Deposition in the North Corentyne Region STABROEK BLOCK Turbot, Longtail, etc Lau Lau Lukanani Pluma Haimara OCK North Corentyne depositional Upper environment continental se Lower continental Submarine Middle. continental pe Santonian Unconformity at base of Santonian Wedge Depth Grid Grid = 5 km C.I.= 100 m KANUKU BLOCK Berbice Canyon CORENTYNE BLOCK Guyana Suriname ° WEI-1 KAWA-1 Maka-1 North Corentyne target agle T-1 Kwaskwasi-1 Sapakara -1 Keskesi -1 Krabdagu -1 plain Continental shelf cgx energy inc Low Mud-rich Sediment supply High Sand-rich Reservoir structure type Confined channel complex Weakly confined channel complex Lobe Amplitude window The "Berbice Canyon" carried sand into the Guyana basin during the Upper Cretaceous Period and deposited basin floor and slope sand complexes These complexes became the primary reservoirs of offshore discoveries in the Guyana-Suriname basin Highly favorable northern region of the Corentyne Block near mouth of sand sourcing Berbice Canyon • Large Santonian and Campanian depositional systems delineated by 3D seismic • Targets analogous to recent discoveries in Block 58 • Kawa-1 targeted stacked pay in eastern fan complex; discovered pay in channel and fan morphologies identified by seismic analysis Upcoming Wei-1 Well will target additional exploration opportunities across CGX's licensed block www.cgxenergy.com 9 By-passi channel Slope progradation/anticline growth#10CGX Energy Offshore Activity Map - - Exploration Activity Adjacent to North Corentyne cgx North Corentyne is surrounded by recent discoveries in several Cretaceous horizons • SEABOB (2022): • 40 meters of reservoir ⚫ Campanian FANGTOOTH (December 2022): • WD 6,029 ft ⚫L.Campanian/Santonian- Exxon's first dedicated deep test • 164 ft oil-bearing reservoir BARRELEYE (April 2022): WD 3840 ft 230 ft pay (52 ft oil) L. Campanian/Santonian Targets and "additional shallower and deeper" targets LUKANANI (April 2022): 115 ft pay (76 ft oil) Maastrichtian/L. Campanian targets • WD 4048 ft LAU LAU (January 2022): • WD 4,792 ft • 315 ft "hydrocarbon-bearing" reservoir KIRU KIRU (2022): • 30 meters of reservoir • Campanian and Santonian PLUMA (December 2018): TD 16,443 ft (WD 3,339 ft) • Maastrichtian/U.Campanian 121 ft "hydrocarbon-bearing" reservoir Berbice Canyon WE AWA HAIMARA (February 2019): ⚫ TD 18,286 ft (WD 4,589 ft) • Maastrichtian/U.Campanian 207' gas condensate pay Suriname MAKA CENTRAL (January 2020) • TD 18,900 ft (WD 3,281 ft) • Campanian 164 ft oil and gas condensate pay (40-60 API) • Santonian 239 ft oil pay (35-45 API) KWASKWASI (July 2020) ⚫ TD 21,804 ft (WD 3,281 ft) Campanian 207 ft oil pay & 282 ft oil/gas condensate (34-43 API) • Santonian 423 ft oil pay SAPAKARA (April 2020) TD 20,700 ft (WD 3,281 ft) Campanian 42 ft net condensate pay & 98 ft net oil pay (35-40 API) Santonian 118 ft oil pay (40-45 API) Being presented KESKESI (January 2021) TD 22,900 ft (WD 2,379 ft) Campanian 190 ft condensate and oil pay (27-28 API) Santonian 16 ft oil pay (35-37 API) Aptian-Neocomian "very rich HC pay in high quality reservoir" Being appraised KRABDAGU (2022): 295 ft net oil pay Maastrichtian and Campanian • KAWA (January 2022) TD 21,578 ft (WD 1174 ft) Maastrichtian 68 ft condensate pay Campanian 66 ft condensate pay Santonian 76 ft oil pay Coniacian 18 ft oil pay All well info from operator press releases and investor conferences CGX's North Corentyne Block on trend with the "Golden Lane" of discoveries on Stabroek Block (11+ Bboe) • North Corentyne on trend with recent Campanian/ Santonian discoveries of Block 58 in Suriname (1.7+ Bboe) • Corentyne Block on trend with developing Lower Campanian-Santonian exploration play up-dip of Golden Lane in Stabroek Block (Fangtooth, Lukanani, Barreleye, Kiru Kiru) • Kawa-1 results are consistent with discovery wells reported by other operators surrounding the northern portion of the Corentyne Block www.cgxenergy.com 10#11Corentyne Block Summary and Highlights Guyana Basin Exploration Guyana Basin Early Stages of Exploration • • • • CGX has state-of-the-art 3D seismic acquired over the northern region of its Corentyne Block Provided enhanced look at Corentyne prospectivity, in view of discoveries in adjacent Stabroek Block (Guyana) and Block 58 (Suriname) Robust, potentially low-risk and high-value prospect inventory developed from seismic data processing Success at Kawa proved the working petroleum system in the Corentyne block and further derisked CGX's exploration portfolio • Kawa-1 provided Information for seismic-rock type calibration and predictive models RANGER cgx energy inc Guyana Deepwater Discoveries 2000m JOE CARAPA CANJE Exxon Mobil JETHRO HAMMERHEAD PAYARA UARU LIZA 1000m KANUKU Repsol SA 200m CORENTYNE YELLOWTAIL PLUMA Wei Suriname Maritime Boundary TURBOT BLOCK 42 Shell BLOCK 53 Apache N HAIMARA MAKA KWASKWASI SLOANEA BAJA SAPAKARA KAWA KESKESI KRABDAGU-1 BLOCK 58 Apache CGX Northern Corentyne 30 Seismic Survey BLOCK 8 BLOCK 52 Petronas BLOCK 5 SURINAME LEGEND Oil Discovery Gas Condensate Discovery Oil/Gas Condensate Discovery Prospects Well Location Oil Show Well ☐ CGX/FEC W.I. Blocks ☐ Other Blocks FRONTERA cgx www.cgxenergy.com 11#12North Corentyne Block Exploration Kawa-1 Results TERTIARY Maas/Camp 1,2,3 Camp 16 Sant 18- 19 Sant 22 Con 23C APTIAN-ALBIAN 36" 22 " 18' 135" 113/4" TD (not reached) 21,578 ft TURONIAN Log pay and shows suggesting condensate Log pay and shows suggesting oil cgx energy inc An active hydrocarbon system has been proven to extend over 6000 ft of depth, with preservation of good porosity at depth, and 228 feet of log pay. Highlights of gross pay intervals are displayed. Hydrocarbon type mirrors regional trends in this area; gas condensate prone in Maastrichtian to Campanian, and oil prone in Santonian and deeper MAASTRICHTIAN Package of three blocky sands with combined 68 ft log pay, 16 - 26% effective porosity, and indications of gas condensate; analogous to Pluma and Haimara discoveries on Stabroek Block CAMPANIAN Thin sands with good porosity and interpreted large area connected deep offshore; combined 66 ft log pay, 14-26% effective porosity, and indications of gas condensate; analogous to discoveries on Stabroek Block and Block 58 UPPER SANTONIAN Channel complex with two packages of sands with combined 41 ft log pay, 12 - 19% effective porosity, and indications of light oil; analogous to discoveries in Block 58 and deep discoveries on Stabroek Block. Thicker complex and more sands expected away from wellbore. LOWER SANTONIAN Thick package of thin bedded sands with 35 ft log pay, 10 - 18% effective porosity and indications of light oil CONIACIAN Stacked sands with 18 ft log pay, mostly in bottom sand, effective porosity 10 - 13%; but kick and good porosity in cuttings at TD indicates additional better reservoir below; oil indicated by shows and presence of light oil in annulus mud. www.cgxenergy.com 12#13North Corentyne Kawa Discovery Santonian Channel Complex Pay Intervals . cgx energy inc Kawa-1 targeted Horizon 19 and found numerous stacked off-axis sand packages as part of thick eastern channel complex • Two sand packages were identified in the channel complex: Horizon 18 and 19 • Presence of good porosity and hydrocarbon shows, with a gas-ratio analysis suggesting oil . Kawa partially de-risks surrounding horizons elsewhere on the block, 545000 prospect inventory at similar GWC Final PSDM Hor 15 6by6 SM RMS amplitude X-axis 555000 560000 565000 570000 120000.00 115000.001 110000.00 105000.00 SW 3700 3650 namely upcoming Wei-1 Amplitude: troughs in red Kawa-1 1300 1300 1300 1300 1300 3600 3500 3450 2300 1300 2300 3400 1300 1300 1300 1300 2300 3300 3250 3200 3150 3050 2950 2900 2050 2800 2750 2700 2650 -5000 -5050. -5100 -51501 -5200 -5250 -5300 -5350 Channel -5400 -5450 complex -5500 -5550 -5600 -5650 -5700 -5750 -5800 -5850. Displayed Horizon -5950 -6000 -6050 -6100 -6130 -6200 -6250 -6300 -6400 -6450 -6500 -6550 <-6600 Seismic resolution = ~100'+ www.cgxenergy.com 19 22 18 NE Wei-1 Kawa-1 -100000.00 -95000.00 -90000.00 85000.00 -80000.00 75000.00 ·70000.00 05000.00 00000.00 VIEW OF CHANNEL COMPLEX RMS Amplitude Above Background of Channel Portion Horizon 19 Post Wireline Initial Petrophysical Calculations Interval Maastrichtian Net Pay Thickness 68 feet Campanian 66 feet Santonian 76 feet Coniacian 18 feet Total 228 feet 13#14Northern Corentyne 3D Seismic Survey Large Sand Complexes 10000m 1:82476 cgx energy inc Wei-1 H20 Wei H19A H19 Map view RMS Seismic Attribute Illustrating Sand Complexes of North Corentyne Kawa Kawa-1 N Corentyne's Large Channel Complexes • Kawa Eastern Complex Discovery: . Multi-stacked pay intervals Proximity to adjacent block oil discoveries Promotes amplitude analysis across block Central Complex Area Stacked pay potential; reduced risk Multi-stack targets with similar play types Wei Prospect Western Complex Area Stacked pay potential: Maastrichtian through Santonian age targets across multiple zones Additional deeper targets (Coniacian) for future appraisal Wei - Western Complex Multiple large channel complexes identified Analogous to adjacent Stabroek Block discoveries Western complex shows significant hydrocarbon probability with Kawa Discovery www.cgxenergy.com 14#15Northern Corentyne Prospectivity Large Sand Complex Objectives WESTERN COMPLEX Channel complexes of North Corenytne Wei-1 Central Kawa-1 cgx energy inc EASTERN COMPLEX •Wel-1 Condensate Prone Maas/Campanian Oil Prone Campanian / Santonian Kawa-1 • Wei-1 will target light oil in Tertiary U. Cretaceous Maastrichtian channels and fans Campanian channels and fans Santonian channel complexes intervals similar to pay zones in Coniacian "Wedge" Kawa discovery Source Rock Planned spud 4Q'22 with Maersk Discoverer Wei-1 Kawa-1 Condensate Prone Maas/Campanian Oil Prone Campanian / Santonian • Kawa-1 reached TD 1Q'22 • Pay identified in Maastrichtian, Campanian, Santonian, and Coniacian • Three (Maastrichtian, Campanian, and Santonian) pay zones identified in North Corentyne Block Three (Western, Central, and Eastern) sand complexes identified in North Corentyne Block Kawa-1 discovered oil in the Eastern complex, Wei-1 will penetrate similar intervals in Western complex Additional deeper targets of the Coniacian are present for future appraisal www.cgxenergy.com 15#16cgx energy inc NW WEI-1 prospect 14 km KAWA-1 discovery • • Northern Corentyne Exploration Approaching Spud of Wei-1 OPPORTUNITY HIGHLIGHTS Multiple Targets (Maastrichtian, Campanian, and Santonian reservoirs) Seasoned team with decades of deep-water experience Kawa significantly de-risked Wei-1 (14km inside North Corentyne Block) 2000m 1:171364 . Proved hydrocarbons of Corentyne Block up- dip from established production • Verified geological model of large sand • complexes Substantiated preservation of good porosity at depth Confirmed necessity for exploration expansion High quality seismic to rock type substantiated • Large stacked channel complexes • Upside potential in Coniacian deeper targets Coniacian Turonian View Across Corentyne Block Further de-risking of Central Complex and Greater Corentyne Block www.cgxenergy.com WEI-1 Risk Assessment Individual primary zones Maastrichtian Campanian Santonian SE Pre-Kawa Post Kawa Source 0.9 1 Migration 0.95 1 Reservoir 0.7 0.7 Trap 0.7 0.8 Seal 0.7 1 0.29 0.56 16#17Northern Corentyne Exploration Additional Prospectivity Western Complex Central Complex Eastern Complex 2:48128 2000m 1:171364 www.cgxenergy.com Coniacian Turonian cgx energy inc Maastrichtian Campanian Santonian Central Complex North Corentyne Expansion Multi-stacked pay intervals identified Reduced risk by Kawa and upcoming Wei High-quality seismic to rock type substantiated Promoted by amplitude analysis across block Proximity to adjacent block oil discoveries Upside potential in Coniacian deeper targets Further de-risk of Greater North Corentyne Complex 17#18Well Design Advancements Improvements and Advantages Kawa-1 Wellbore Wei-1 Well Design cgx energy inc 18" 13-5/8" 11-3/4" 9-5/8" 36" 22" 14" 16" 18" 36 • 22" • Drilling Advantages Wei-1 vs Kawa-1 Wei-1 shallow sections will maintain similar design & operational procedures as Kawa Increased base case casing design; adding 16" liner at Wei equivalent to Kawa's 13-5/8" casing Achieve Kawa-1 equivalent of 11-3/4" liner with Wei-1 14" casing string - casing off Kawa-1 Campanian challenging section and avoid slow deep underreaming operations • 2 contingency strings (11-7/8" and 9-5/8") available to reach main objectives in last hole section • Drill out in 12-1/4" hole section to TD ~ 2500 feet: Improves stable well bore conditions and logging options No deep high pressure base case objectives - Coniacian • • • Operational Advantages: Actual drilling data vs drilling model Same rig and crews - with excellent basin experience Continuity in well services Continuity of highly experienced CGX drilling team www.cgxenergy.com 18#19Basin Upside Potential Guyana and Suriname cgx① cgx Guyana-Suriname Basin significantly de-risked with discoveries adjacent to the CGX offshore Blocks • • • • • Kawa discovery significantly derisked the North Corentyne Block energy inc Suriname discoveries since 2020 (Maka Central, Sapakara West, Kwaskwasi, Keskesi, and most recently Krabdagu), immediately adjacent to CGX, provide a direct analog to further de-risk prospect inventory in the Corentyne block These discoveries are reported to be Santonian in age with amplitude supported data similar to Corentyne Block 32 discoveries over the last 7 years in Stabroek Block, accounting for more than 11 billion barrels of oil equivalent Adjacent to CGX acreage, numerous discoveries have been made, de-risking the prospects: . • • • • • • • • • Pluma discovery: 2 miles north of Corentyne Maka Central discovery: 7 miles northeast of Corentyne Haimara discovery: 8 miles north of Corentyne Kiru Kiru discovery: 11 miles north of Corentyne Seabob discovery: 15 miles north of Corentyne Kwaskwasi discovery: 15 miles east of Corentyne Turbot discovery: 16 miles north of Corentyne Sapakara West discovery: 20 miles east of Corentyne Keskesi discovery: 29 miles northeast of Corentyne Krabdagu discovery: 33 miles northeast of Corentyne Liza discovery: 40 miles northwest of Corentyne www.cgxenergy.com 19#20Grand Canal Industrial Estates (GCIE) Company Details cgx energy inc ● Berbice Deep Water Port Grand Canal Industrial Estates Inc. incorporated in Guyana June 30, 2010 Office registered at 234 Lance Gibbs and Irving Streets, Georgetown Principal objectives are to build and operate the Berbice Deep Water Port on the Berbice River in Guyana The original lease from Government of Guyana for 55 Acres of Berbice River Front Land adjacent and North of "Crab Island" was acquired by CGX Resources Inc. on February 4, 2010, for a period of 50 years In August 2012, GCIE acquired the lease from CGX Resources Inc. GCIE currently holds 30 acres of the Berbice River Front Land GCIE has expended a total of US $21.8 million to date, on the development of the Berbice Deep Water Port www.cgxenergy.com 20 20#21GCIE Vision Berbice Deep Water Port deep seaport cgx energy inc Multi-Service Port Oil and Gas Exploration and Production Services Commodity Import/Export Regional Shipping Phase 1 Target: 2023 • • • 90m x 30m wharf platform build-out, channel access via a 49m long x 12m wide trestle Access channel intended draft 7m and basin alongside wharf 8.5m at low tide Facility Targets: fuel, oil-field service, agriculture, and commodities (water & electricity) Facility Includes: Warehouse, Workshop, Office Block, Open Logistics Yard at Port Site, and Waste Management Facility Phase 2 Expansion Target: 2024 - 2025 • Expansion Deliverables: Incorporate Container Stackers, Expand Container Yard, Increase Silo Capacity, Wharf Expansion Project, and Traffic Optimization www.cgxenergy.com 21#22Berbice Deep Water Port in Guyana Factors Motivating • • • • • Two functional Commercial Oil and Gas Ports available in Guyana Berbice Port located East of Georgetown Harbour Strong desire for local ports in region New port being built on Demerara River Congested Georgetown Harbour has little room for expansion Stabroek Block Partners utilize majority of current Guyanese ports and surrounding international ports cgx Exploration activities in Guyana basin are increasing rapidly with limited local shorebase availability Significant exploration expansion planned in both Guyana and Suriname in near term Government of Guyana has prioritized the development of the Deep Water Port in Berbice energy inc Agricultural products in Regions 5 and 6 produce approximately 65% of the national rice crop There is a 20% additional transportation cost on Guyana commodities to ship to Port Georgetown www.cgxenergy.com 22#23GCIE Near Term - Phase 1 Objectives 2023 cgx Build and operate initial phase of the Berbice Deep Water Port to service the highly active offshore oil and gas exploration industry and agricultural sector in the Guyana-Suriname Area • • 90x30 meter wharf platform and 49x12 meter approach trestle from shoreline into the Berbice River Capable of accommodating 2 Platform Supply Vessels or Anchor Handlers simultaneously • Site is flood protected . • • · • • • World-class compact yard, covered warehousing, and tubular storage on site Construction of access road and bridges and utility services Full range of services: water, bulk dry and liquid mud supply, cement, electricity, telecommunications, fuel, container mobilization of agriculture products Full range of security services and secure bonded area for controlled customs accountability (fenced and protected) Dredging of an access channel to 7m at low tide and basin alongside wharf to 8.5m at low tide, complete shoreline protection Full-service wharf support for offshore drilling Administrative offices and customs administration offices Workshop and covered warehouse Completely contained waste management • Fire protection system • Facility targeted to be fully operational 2023 • Full indemnification insurance will be procured to protect environment, existing infrastructure, public and client property www.cgxenergy.com 23#24Berbice Deep Water Port Expansion 2024 - 2025 Targeted Expansion Oil and Gas Exploration and Production Services Agricultural Export Commodity Import/Export Regional Shipping www.cgxenergy.com deep seaport cgx energy inc 24 24#25Grand Canal Industrial Estates (GCIE) Site Advantages GCIE Selection Criteria for Site Location (Shore-base and Port Facility) cgx energy inc Berbice River is one of three major rivers in Guyana, spanning 600 km long, and 2.3 km wide at project location Berbice River channel was dredged and maintained at a depth of 8.3 m at low tide up until 2019 GCIE site is a sheltered area, 4.8 km from the river mouth, with no interferences to open sea The site location is 11-13 hours sailing to the Stabroek Block and shorter times to the Corentyne, Kanuku, Orinduik and Demerara Blocks (compared to 2.5 days from Trinidad) No congestion and significant land available for expansion projects contiguous to the site (> 200 acres) Well-maintained service roads connect site to the existing highway system • Minimal exposure to environmentally sensitive or residential areas • Locally abundant and accessible skilled labor force www.cgxenergy.com 25 25#26Grand Canal Industrial Estates (GCIE) Site Advantages • • cgx energy inc In 2010, Guyana Lands and Surveys Commission, in its land use planning map for Region 6, listed the area for development of a Deep-sea Port, New Airport Runway of 1.2km, and an Industrial Park The GCIE location can service import/export of agricultural products and other goods which are transported from the landlocked state of Roraima in Brazil, once the Brazil/Guyana road is completed A report prepared by the study team of the Ministry of Shipping, Government of India (1), on the construction of a deep-sea port in Guyana, identified the eastern bank of the Berbice River as the preferred location Quote from this Report: "The aforementioned factors strongly suggest need for a deep sea port with a modern container terminal in Guyana. This will greatly improve Guyana's maritime access, reduce its dependence on transshipment of its cargo at a Caribbean port resulting in savings in freight/handling costs and also help Guyana reap economic benefits from its integration into North East Brazil. The ideal location for this purpose appears to be New Amsterdam near the mouth of Berbice River considering the available channel depth and large tract of available land suitable for multi user terminals with ancillary facilities." (1) "Report Of The Study Team On Construction Of Deep Water Port In Berbice River Of Guyana" - Prepared by Ministry of Shipping on the Request of Ministry of External Affairs, Government of India (April 2010) www.cgxenergy.com 26#27cgx energy inc Berbice Deep Water Port Project STATUS UPDATE www.cgxenergy.com 27#28Access Bridge www.cgxenergy.com cgx energy inc Contract Summary Component Name: Construction of Access Bridge Progress: 100% Completed Timeline: 6th April 2021 to 23rd December 2021 Contractor: Home Designs Engineering Associates (Berbice) Particulars: Connects Corentyne highway to access road - Specifications - 40 tons per axle capacity 8m x 15m prestressed concrete - 1m dedicated pedestrian walkway 28#29Quayside Laydown Yard cgx energy inc Contract Summary Component Name: Quayside Laydown Yard Progress: 100% completed Timeline: 10th June 2021 to 15th July 2022 Contractor: BK International Inc. Specifications - 5 tons per sq meter (load capacity) - 200 meters x 200 meters - 40,000 square meters www.cgxenergy.com 29#30Rip Rap Flood Protection cgx energy inc Contract Summary Component Name: Rip Rap Flood Protection Progress: 100% completed Timeline: 10th June 2021 to 5th August 2022 Contractor: BK International Inc. Specifications 400m Rip Rap flood protection - 56m Northern flood protection - 20m Southern flood protection www.cgxenergy.com 30#31Water to Port cgx energy inc Contract Summary Component Name: Water to Port Progress: 100% completed Timeline: 4th October 2021 to 15th November 2021 Contractor: Mohamed Ahmad Construction Works (Berbice) www.cgxenergy.com Specifications - 2.7km of 150mm Pipeline - Installed to GWI specifications - Verified and approved by GWI 31#32Power to Port www.cgxenergy.com cgx energy inc Contract Summary Component Name: Power to Port Progress: 100% completed Timeline: 16th October 2020 to 15th December 2021 Contractor: Guyana Power and Light Inc. - Specifications 70 KVA transformer - Installed by GPL - 3-phase capacity with stepdown to 110/220 2-phase 32#33Access Road to Port Site www.cgxenergy.com + cgx energy inc Contract Summary Component Name: Seawell Road Rehabilitation Progress: 100% completed Timeline: 5th November 2020 to 2nd February 2022 Contractor: KP Jagdeo General Contractors (Berbice) Specifications - ASHTO Standards - 2.6 km from access bridge to port site - 5 m wide with 2 pullover 33#34Concrete Drain and Residents' Concrete Bridges www.cgxenergy.com cgx energy inc The First 200 meters of the access road, adjacent to the Seawell village residents, was fully paved with the construction of a concrete drain and concrete bridges for each resident. The contract for Access Road was amended to include this component. Specifications Concrete Drain: length 200m width 2m depth 1.5m Concrete Driveway/Bridge: width 2.5m 34#35Corporate Office 333 Bay Street, Suite 1100 Toronto, ON, Canada M5H 2R2 +1 (416) 364-5569 Houston Office 810 Highway 6 South, Suite 240 Houston, TX, USA 77079 +1 (832) 300-3200 MAERSK DISCOVERER cgx energy inc Guyana Office 234 Lance Gibbs and Irving Streets, Queenstown, Georgetown, Guyana +011 (592) 227-0521 MAERSK DISCO Thank You F