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Investor Presentaiton

Significantly higher free cash flow expected in 2025... ...driven by materially lower capital expenditure and improved gas hedging profile Hedging profile² Harbour Energy Gas: hedged production, avg. hedged price³ (p/therm) Oil: hedged production, avg. hedged oil price ($/bbl) 84 90 77 99 Guidance 2024 2025 vs 2024 Volumes hedged kboepd 40 67 Production kboepd 150-165 Unit opex $/boe c.18 20 Total capex $bn 1.2 0 Sensitivity 2024 Brent oil 85 85 Total capital expenditure $/bbl $ billion UK gas NBP 70 70 p/therm 2024 Free Cash Flow¹ $bn Small +ve Tax payments 2025 1.0 $bn 2025 2026 1.2 1 $200 million free cash flow forecast provided in January 2024 reflected $85/bbl and 100p/therm 2 As at 31 December 2023 3 Hedge price for gas hedge collars reflects the forward curve as at 6 March 2024 Harbour Energy | Investor Presentation 20
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