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Investor Presentaiton

Natural Gas Exploration and Exploitation Prospects for Cyprus as an energy producer and exporter ■ Noble Energy International announced the first natural gas discovery ("Aphrodite") in Block 12 in January 2012, which was declared commercial in 2015. Current estimated natural gas resources are in the order of 4,5 trillion cubic feet (best estimate). The regional pipelines option seems to be the optimal monetization alternative, under the current economic and commercial conditions. ■ The "Aphrodite" field project opens up new investment opportunities, including a subsea pipeline connecting Cyprus and Egypt. An Intergovernmental Agreement between Cyprus and Egypt has been signed. (Shell) ■ The Noble Energy / Delek Drilling/ BG Cyprus consortium is working on the development of the "Aphrodite" gas field. ■ The active exploration licenses within Cyprus EEZ are held by ENI/KOGAS/TOTAL for Blocks 2, 3 and 9, by ENI/TOTAL for Blocks 6 and 8, by TOTAL/ENI for Blocks 7 and 11, and by ExxonMobil/Qatar Petroleum for Block 10. Offshore exploration licenses of Republic of Cyprus CYPRUS 9 5 6 7 8 En EgenMob 10 11 Aphrodite 12 M HYDROCARBONS SERVICE Ministry of Energy Commerce and industry 0 0 Ene 2 3 Currently, there are four gas discoveries in Cyprus, including "Aphrodite" in Block 12, "Onesiphoros West 1" in Block 11 (technical discovery), "Calypso-1" in Block 6 under evaluation, and the "Glaucus-1" in Block 10 by ExxonMobil/QP that encountered a gas bearing reservoir with preliminary estimates of approximately 5 trillion to 8 trillion cubic feet. The "Glaucus" field is currently under appraisal. 14
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