Investor Presentaiton

Appendix PremierOil Sea Lion Ph.1, Falkland Islands: a basin opening project ■ North Sea operating environment Conventional new build FPSO/subsea development ■ FEED completed - Substantially de-risked - - Best available technology Gas Tee P2 Main Drill Centre P1 FPSO ■ Tier 1 supply chain secured via LOIs prior to downturn Vendor funding agreed ■ Phase 1 optimised: ☐ - - - 250 mmbbls $1.8bn pre-first oil capex 85 kbopd plateau oil rate Rapid payback, high capital efficiency ■ ECA-backed project financing - Discussions on hold due to current macro environment ■ Supportive government with attractive fiscal regime West Flank Gas Well WI1 Casper Gas Well (Contingency) Phase 1 cash breakeven ~$40/bbl Southern Drill Centre P3 Peak annual FCF >$1.5bn Sanction ready project, currently on hold W13 Eastern Drill Centre W12 Water Injection Tee KEY Production Water Injection Diesel Gas Production/Injection Gas Lift Control Umbilical Production Manifold W Water Injection Manifold P Premier continues to work with the Falkland Islands Government on licensing, fiscal and regulator matters The proposed farm-out of the Sea Lion licences to Navitas is subject to FIG and, pursuant to the Merger Agreement, Chrysaor's approval. November 2020 P24

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