Investor Presentaiton

Namibia Overview Attractive Location / Fiscal Terms Camelot ANGOLA ExxonMobil Farmin April 2019 NAMCOR Grisham. Tse Oil & Gas Jupiter Kayuco Osprey Prospect Oranto Global Eco Oil & Gas AFRICA ENERGY Azinam Galp South Murombe-1 HRT Wells 2013 Pan African Oil Atlantic Ocean Wingat -1 PEL 37 Maurel Eco Oil Rhino & Gas & Prom Maurel Chariot Sungu & Prom Serica Energy Lekoil Africa Energy block Gas field Cowan 200km Walvis Bay Windhoek History of Oil Industry Chevron Kudu gas discovery in 1974. Mature oil source proven by HRT wells in 2013. Total Venus and Shell Graff large oil discoveries in 2022. Recent Country Entrants ExxonMobil NAMIBIA Fiscal Terms TO Shell TotalEnergies AE AFRICA ENERGY قطر للطاقة QatarEnergy State Take < 50% ⚫Luderitz Kudu Gas Field 1.3 Tcf - 2C Windfire Petroleum Qatar Energy Farmin April 2021 Shell acquires from Kosmos Sept. 2020 Royalty: 5% Income Tax: 35% Additional Profits Tax (APT): levied in 3 tiers, if after-tax rate of return levels achieved, nil for PEL 37 in 2nd and 3rd tiers After Tax Profit Tax Deductible Costs: E&P expenses deductible when incurred, development costs depreciated over time Other key terms: No state participation/ No carry-forward limitation on losses Venus-1 Discovery Graff-1 Discovery Chariot Rhino Total Farmin Galp Qatar Energy October 2017 Farmin August 2019 Slide 23 Total/ QE Impact/ Total/ QE Shell Rhino Africa Energy | March 2022

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