Investor Presentaiton

Delivering against a clear and focused strategy Building a material African independent ESTABLISHED brand and team о Strategy built around helping Africa о о produce oil and gas responsibly, achieving scale through acquisition of production assets and discovered resources from the accelerating regional energy transition Robust governance structure and strengthened board of directors Strengthened organisation with recruitment of high calibre talent with history of identifying, assessing and acquiring high-quality assets Afentral RELATIONSHIPS across West Africa, industry & capital markets о о о Strengthened profile in industry as a credible counterparty of choice across West Africa focus region Regional network and experience enables efficient high- grading of M&A Supportive equity and debt capital markets through continuous engagement, providing access to capital to execute and guide on M&A strategy NEXT STEPS • Azule SPA signed placement of 10% transaction deposit • Amended Sonangol SPA • Shares suspended 19 July 2023 Publication of Admission Document anticipated early Q4'23 SMART DEAL-MAKING structured attractively о о о Three non-dilutive deals from a starting cash balance of $40.8m at 30 June 2021 Low entry cost with implied acquisition cost of <$4/bbl¹ and short payback (~2-3 years at $75/bbl) Quality production assets and discovered resources with low-cost upside, delivering material cashflow }| ROBUST FINANCIAL POSITION to grow both organically and inorganically о о ° Secured debt facilities with Mauritius Commercial Bank and Trafigura to fund transactions and working capital Low completion settlements through deal structuring (protecting downside) and strong cash flow foundation enabling organic and inorganic growth Cash at 1 January 2023 of $30.6m² Shareholder vote post-publication of Admission Document Governmental approvals and completion of transactions Q4 2023 1 Based on CPR 2P reserves of 108 mmbbls, effective 1/1/2023 2 Including restricted funds of $10.2m Afentra plc 11

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