Investor Presentaiton

Highlights Executive summary Proposed merger with Chrysaor, announced October 2020 ■ Premier to acquire Chrysaor through reverse takeover PremierOil ■ Creates the largest UK listed independent oil and gas company with a strong balance sheet and significant international growth opportunities - Will join the ranks of other large, international independent oil and gas companies like AkerBP, Lundin, Hess, Apache and Marathon ■ Transaction completion expected by end Q1 2021 Premier year to date highlights ■ Production of 62.5 kboepd ■ 2020 guidance revised to 61-64 kboepd (recent Catcher constraints) ■ Solan P3 on-stream in September. ■ Tolmount: On track for first gas in Q2 2021 ☐ Significant growth optionality maintained. ■ Forecast 2020 opex of $12/boe and capex of $325m, reflects $255 million of savings / deferrals ■ Net debt of $2.05 billion (end of October). ■ Financial covenants waived through to Transaction completion Valaris 123 rig over Tolmount November 2020 23 P3

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