Investor Presentaiton

Development Growth projects with material upside potential ◉ Large, operated equity stakes in high quality projects, providing growth optionality Participation optimised via farm downs. Ability to flex and control capex as operator Significant value in development portfolio Group 2P Producing 127 mmboe UKCS Tolmount 48 mmboe UKCS Tol. East 16 mmboe Mexico Indonesia Zama Tuna c.100 mmboe 44 mmboe PremierOil Falkland Islands Falkland Islands Sea Lion Ph.1 Sea Lion Ph.2 102 mmboe 113 mmboe 2020 >>> 2021 >>> 2023 >>> 2024 >>> 2025 >>> 2025 >>> 2030 2P PRODUCING Producing ▪ 2P producing ■ Excludes producing assets 2C "hopper" resource 1 Reflects post farm down equity Tolmount ■ 50% op. ■ Under construction ■ First gas Q2 2021 November 2020 DEVELOPMENT PROJECTS Tol. East Zama Tuna ■ 50% op. ☐ FEED ongoing ■FID Q4 2020 ■ 25% (Block 7), non-op ■ 50% op.1 ■ Farm down agreed ■ FEED ongoing ■Sales process underway ■ 2 well appraisal in 2021 Sea Lion 1 ■ 40% op.1 ■ Farm down agreed ■ Sanction ready project Sea Lion 2 ■ 40% op.1 ■Farm down agreed P14

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