Investor Presentaiton

2023 Alaska Investor Trip Nanushuk Fairway Proven play fairway with developments in progress and further running room Santos/Repsol . Pikka Santos Portfolio and Offset Activities US Geological Survey estimates >6 billion barrels yet-to-find Discovered in 2013 with the Qugruk-3 (Q-3) well, completed appraisal in 2019 Phase 1 initial drill site and processing facilities Phase 2 additional permitted drill sites Quokka - Discovered in 2020 (Mitquq) Horseshoe Discoveries in 2017 (Horseshoe) and 2020 (Stirrup) Offset operator • Qannik (CD2) • . • First oil in 2008; 6 producers, 3 injectors Narwhal (CD4) Appraised in 2019 (1 producer and 1 injector) following Q-3 and Pikka appraisal success. Planning additional wells in CD4. Potential new drill site (CD8) as tie back to CD4. Coyote Appraised in 2021 following Mitquq discovery in 2020; Currently producing from 2-well EOR pilot drilled in 2023 and advancing new 11 well development Willow Appraised in 2018 following Q-3 success; Pending development Willow Qannik (CD2) ors S hoe air a y Horseshoe Unit Narwhal (CD4) NT 4-6 Fairway Santos Terminal Nanushuk Coyote Pikka Unit Fairway Quokka Quokka Fairway Unit STO Units Nanushuk Fairways 5 10 Miles NPRA State Lands 20 20

View entire presentation