Investor Presentaiton

Criterium Capital Structure & Use of Proceeds Capital Structure (in C$ millions and millions of shares) (TSXV: CEQ) MOPL (Current) Acquisition Financing Pro Forma Share Price $0.110 $0.110 $0.110 $0.110 Estimated Use of Proceeds (5) Putting Criterium in position to execute our value creation strategy in a disciplined manner while creating a resilient portfolio Gross Proceeds Gross Proceeds C CRITERIUM ENERGY (C$MM) Shares Issued & Outstanding 38.4 43.6 (1)(2) 48.2 130.2 Warrants 27.2 117.3 Drilling activities in 144.5 C$9.0MM (US$MM) US$6.6MM H1 2024 Options & RSUs 3.0 3.0 Fully Diluted Shares Outstanding 68.5 43.6 165.5 277.6 Debt repayment w/ C$6.3MM US$4.6MM MOPL Acquisition Market Capitalization $4.2 $4.8 $5.3 $14.3 Total Estimated C$15.3MM US$11.2MM Use of Proceeds Debt $21.5 (2) $10.0 $31.9 (3) Cash $1.8 $6.9 $15.3 $11.7 (4) Net Debt ($1.8) $14.7 ($5.3) $20.2 Enterprise Value $2.4 $19.5 $34.6 1 Includes debt converted to equity at closing and payment to MOPL shareholders 2 Assumed F/X of $0.73 CAD/USD 3 Reduced to US$16.0MM (C$21.9MM) at closing of the acquisition by US$4.6MM debt repayment in cash at closing from the financing and debt-to-equity conversions 4 Includes cash in MOPL and deducting US$4.6MM debt repayment but excluding adjustments for fees/expenses related to the financing 5 Gross proceeds from C$10.0MM convertible loan and C$5.3MM equity subscription receipt financing, excluding the exercise of over-allotment options 15

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