Investor Presentaiton

Capital is available for the right opportunities Block 3/05 Production Profile¹ 30 Oil Rate, kbbl/d (gross) 20 20 10 10 2P 2C 3C 0 2022 2024 2026 2028 2030 2032 1 Production profile is based on ERCE CPR gross 2P, 2C & 3C estimates as at 01/04/2022 21.35 bnbbls production to YE 22 Afentra plc Debt financing appetite from banks, traders, bond market $110m RBL RBL and ($30m) Working Capital facilities agreed with Trafigura and Mauritius Commercial Bank Institutional equity appetite for accretive deals and high-calibre team with African track record Equity appetite Institutional equity (private/public), HNWIS, family offices across UK, Europe, US Short payback on 2P production <3 years at $75/bbl on 2P production alone Stable, mature production with gettable upside >3 billion barrels OIIP, 43% RF2 long life, low decline asset; extensive infrastructure, 8 fields Low-cost entry <$4/2P bbl gross 2P reserves of 108 mmbbls at 1/1/23 (per 2023 CPR) and $122.5m combined upfront consideration Attractive asset breakeven economics ~$35/bbl

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