Investor Presentaiton

Disclaimers and key terms C CRITERIUM ENERGY The information in this presentation is provided as of September 5, 2023 for informational purposes only, is not complete and does not contain all material information about Criterium Energy Ltd. or the management team ("Criterium" or "Company" or "Management"), including important disclosures and risk factors associated with the current business plans and objectives of Management. This Presentation is not intended to provide financial, tax, legal or accounting advice and do not purport to contain all the information that a prospective investor may require. Each prospective investor should perform and rely on its own investigation and analysis of the Company and the terms of any offering of the securities referenced herein, including the merits and risks involved, and are advised to seek their own professional advice on the legal, financial and taxation consequences of making an investment in the Company. Forward Looking Information. Certain statements contained in this Presentation are forward looking statements. These forward-looking statements are not based on historical facts but rather on the expectations of management of the Company regarding the resulting company's future performance. All statements, other than statements of historical fact, may be forward looking statements. Forward looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "propose", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct, and actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements. Forward-looking statements contained in this Presentation include, but are not limited to, statements with respect to the Company's business strategy, the market in which the Company operates; the ability of the Company to successfully integrate businesses; the timing and nature of equity offerings to be completed by the Company; the Company's potential revenue; the ability of the Company to successfully complete mergers and acquisitions; the ability of the Company to realize on the potential of target companies; and other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking statements contained in this Presentation reflect the current beliefs and assumptions of the Company's management based on information in its possession as of the date of this Presentation. The material risk factors that could adversely impact on the forward looking information and assumptions include, but are not limited to: (i) the inability to obtain equity and debt financing on terms acceptable to it, or at all; (ii) the uncertainty of estimates and projections relating to the Company's industry; (iii) fluctuations in interest rates; (iv) the risks of the competition; (v) the possibility that government policies or laws may change or governmental approvals may be delayed or withheld; and (vi) the risk and changes of international, national and regional economic and business conditions. The foregoing list of risk factors is not exhaustive. Readers are cautioned that the foregoing list is not exhaustive. The forward looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward looking statements included in this Presentation are made as of the date of this Presentation and the Company does not undertake and is not obligated to publicly update such forward looking statements to reflect new information, subsequent events or otherwise unless so required by applicable securities laws. Future Oriented Financial Information. The future orientated financial information contained in this Presentation are examples only and are not a guarantee or representation of the future performance of the Company and should not be relied upon to indicate a potential rate of return that may be earned by an investor. Statutory Rights of Rescission. Securities legislation in each of the Provinces in which securities will be sold, provides investors with remedies for rescission or, in some jurisdictions, damages, if this Presentation contains a misrepresentation, provided that the remedies for rescission or damages are exercised by the investor within the time limit prescribed by the securities legislation of the investor's province. An investor should refer to any applicable provisions of the securities legislation of the investor's province for the particulars of these rights or consult with a legal adviser. UNLESS INDICATED OTHERWISE, ALL DOLLAR AMOUNTS IN THIS PRESENTATION ARE EXPRESSED IN USD. Barrel of oil equivalent (BOE) is equivalent to 6 mmscf of gas All forecasts are based on $80/bbl brent pricing The Reserve Report: Reserve Report commissioned by MOPL and prepared by ERCE Limited dated March 15, 2023 with effective date of December 31, 2022 (the "Reserve Report"), which was prepared in accordance with the definitions, standards, and procedures contained in the Canadian National Instrument 51-101 Standards of Disclosure of Oil and Gas Activities. The Reserve Report will be made available on Criterium's SEDAR profile The Resource Report: Resource Report prepared by Netherland, Sewell & Associates, Inc. dated February 6, 2023 with an effective date of December 31, 2022 (the "Resource Report"), which was prepared in accordance with the definitions, standards, and procedures contained in the Canadian National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities. The Resource Report is available in the Annual Information Form on Criterium's SEDAR profile. 2

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