Investor Presentaiton

A Diversified African-Focused E&P | Complementary businesses coming together to create a stronger, Pan-African entity A Growing, Diversified Footprint in Africa Operated ------ Gabon (offshore) A Etame Marin Permit Q3'23 Prod (NRI)(1)(2): 8.6 mbopd WI 58.8% (Operated) 1P Reserves (NRI)(1): 10.2 mmbbl Acreage (gross): 46,300 Egypt (onshore) Eastern Desert WI 100% (Operated) South Ghazalat WI 100% (Operated) D A Q3'23 Prod (NRI)(1)(2): 8.0 mbopd 1P Reserves (NRI) (1): 8.6 mmbbl Acreage (gross): 52,500 Supported by High-Quality Canadian Acreage Operated > Full-cycle portfolio with material production and cash flows > 100% operated assets > Critical mass of operations with running room for growth > Combination of two highly capable subsurface/technical, operational and business development teams Operated Operated I Equatorial Guinea (offshore) Block P WI 45.9% (3) (Operated) Canada (onshore) Harmattan WI 94.5% (Operated) P Production D Development E Received approval of Venus standalone development plan, negotiating final documents for approval Acreage (gross): 57,300 P Q3'23 Prod (NRI)(1)(2): 2.3 mboepd 1P Reserves (NRI) (1): 9.2 mmboe Acreage (gross): 75,400 A Appraisal E Near-Field Exploration > Majority operated assets > Significant near-term growth potential through large drilling inventory > Highly cash generative in current price environment > High-quality technical team supporting the wider business > North American drilling, completion and unconventionals technologies with applications across broader portfolio ☑ Building Scale and Diversification With an Operated, Full-cycle, Low-risk, High Return Portfolio (1) Net Revenue Interest ("NRI") share of volumes on a working interest basis, after deduction of royalty. (2) Q3'23 NRI production reported in Q3 2023 earnings release (3) In February of 2023, the Company acquired an additional 14.1% participating interest, increasing VAALCO's participating interest in the Block to 60% Slide 3

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