Investor Presentaiton

Why Southeast Asia? Supportive governments, premium netbacks, and underutilized infrastructure Supportive Regulatory Environment Energy security has led governments to increase domestic production targets ■ Tax incentives are available for natural resource development¹ Indonesian Gov. Production Targets Premium Netbacks ■ Brent + pricing Conventional low-opex production² Illustrative Netback @ US$80/bbl Brent C CRITERIUM ENERGY Low-risk value creation opportunities Undercapitalized assets Underutilized infrastructure Natural decline plus limited investment results in 5 bcf/d of spare capacity by 2035 Oil (kbbl/d) 612 +63% Natural Gas (bcf/d) Netback ($/bbl) 1 16 12 12 9 (bcf/d) 20 Diff to Brent 15 1,000 +107% Royalties 22 22 15 Existing Infrastructure 5 bcf/d 12 Opex B/Tax Netback 49 10 Demand 6 37 Southeast Asia Production 2022 2030 Target 2022 2030 Target 5 Onshore Indonesia Western Canada Light Oil 2020 2025 2030 2035 Source: Reuters, Indonesia's 2022 oil lifting miss target, hopes stalled projects resume, January 18, 2023 Onshore Indonesia is illustrative of a recent Production Sharing Contract Western Canada is illustrative of SE Saskatchewan Wood Mackenzie Energy Transition Service 2021. Asian gas demand includes North Asia, ASEAN, and Southern Asia 1 Oil and Gas in Indonesia, Investment and Taxation Guide. December 2020, 11th Edition. Pwc. Page 60 2 In comparison to unconventional assets in North America, Criterium's target assets in SE Asia have lower operating costs of which a major portion is fixed. Therefore operating cost per barrel improves with production increase

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