Investor Presentaiton

Equatorial Guinea¹: Future Growth Potential | Maximizing the value in VAALCO's portfolio Block H EG-10 Southwest Grande Marte North Marte South א VAALCO ENERGY, INC. Block P PDA VENUS Discovery EG-21 Urano Saturno EUROPA Discovery Block P 0 2000 4000 6000 8000 10000m 1:175559 EG 19 Gulf of Guinea Դ EQUATORIAL GUINEA Block P PDA CAMEROON EQUATORIAL GUINEA VENUS DISCOVERY Potential to add: 2P CPR reserves EUROPA DISCOVERY Upside potential: Unrisked 2C resource SW GRANDE PROSPECT Upside potential: Unrisked Prospective Resources Material Development Opportunity with Further Upside > All wells drilled on Block P have oil shows or oil sands > PSC license period is for 25 years from date of approval of a development and production plan › Discoveries on Block were made by Devon, a prior operator/owner Current Status > In 2021, completed feasibility study of Venus standalone project > In September 2022 Plan of development approved by EG government GABON > POD in place, finalizing agreements, with first oil forecasted for 2026 ☑ Strategy to Accelerate Value Creation While Adding Second Core Area, Reduces Risk and Enhances Upside Slide 15

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