Investor Presentaiton

Financial Overview 3Q22 USD/bbl 140.00 120.00 100.00 80.00 60.00 40.00 20.00 0.00 ago-16 jan-17 jun-17 nov-17 abr-18 set-18 fev-19 jul-19 dez-19 mai-20 out-20 1) Considers proceeds of capital increase net of fees (USD 19 million) and equity balance at 3Q 22 (USD 116.6 million); 2) Considers the cash balance (USD 11.3 million) and debt (USD 49.4 million) at 3Q 22 plus the capital increase net of fees 3) Updated on 3 February 2023 Source: Company information mar-21 USD 0.92 SEK 9.51 SEK/sh Brent Maha USD 2.44 SEK 23.88 52 Week High 35.00 USD 0.78 SEK 8.14 52 Week Low ago-21 jan-22 jun-22 nov-22 19 30.00 THE STOCK³3 Current Stock Price USD 0.5 million SEK 5.2 million ADTV 30 days CAPITALIZATION 25.00 USD 131.8 million Market capitalization³ USD 19.1 million Net debt¹ 20.00 USD 150.1 million USD 30.3 million 0.3x 15.00 Enterprise Value Cash¹ Net debt / EBITDA 10.00 USD 90 million 3,300 boepd 5.00 USD 62 million USD 48 million 0.00 KEY FINANCIALS - LAST TWELVE MONTHS PER 3Q22 Revenue Net production EBITDA Operating cash flow USD 30 million Net result MAHA ENERGY

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