Investor Presentaiton

Egypt: Eastern Desert PSC Terms Improved PSC terms enhance sustainable future investment Gross Production Barrels Oil Production (quarterly average) 40% 60% Brent Price US$/bbl ≤ 5,000 Bopd > 5,000 Bopd and ≤ 10,000 Bopd > 10,000 Bopd > 15,000 Bopd > 25,000 and ≤ 15,000 and ≤ 25,000 Bopd Bopd Bopd EGPC TG EGPC TG EGPC TG EGPC TG EGPC TG % % % % % % % % % % Cost Oil Profit Oil ≤ 40 US$ 67 33 68 32 31 70 30 71 29 100% > 40 and ≤ 60 US$ 68 32 69 31 70 30 71 29 72 28 Cost oil actual recoverable costs > 60 and ≤ 80 US$ 70 30 0 30 > 80 and ≤ 100 US$ 72.5 27.5 > 100 US$ 75 25 25 236 71 73 76 222 29 72 28 74 26 76 24 27 74 26 76 24 78 22 24 77 23 78 22 80 20 22 Excess Cost Oil 85% 15% Allocation per Table > > > Cost Oil - Company PSC expenditures are recovered out of 40% of all petroleum produced Profit Oil - Of the remaining 60% of all petroleum produced (after cost recovery) the production is shared between the Company and EGPC based on the above table Excess Cost Oil - If Cost Oil above exceeds the actual allowable recoverable costs, this is Excess Cost Oil and is shared between the Company and EGPC (TransGlobe 15%) > Taxes - Captured in the net government entitlement oil share due to EGPC (no additional TransGlobe burden) TransGlobe Energy EGPC CORPORATION EGPC > TransGlobe Oil Entitlement is the sum of Cost Oil, Profit Oil and Excess Cost Oil (if any) Slide 23

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