Investor Presentaiton

2023 Alaska Investor Trip Pikka Phase 1 Exploits High Reservoir Quality Highly appraised reservoir underpins robust Phase 1 economics · • • Pikka Phase 1 targets the heart of the Nanushuk 2/3 reservoirs Greatest net pay with up to 140' (~43m) in the Nanushuk 2/3 reservoirs across the NDB development area - Excellent resource density with 397 MMbbl gross (165 MMbbl net) of 2P reserves Nanushuk 2/3 is fully appraised at Pikka with excellent control of reservoir properties and deliverability – 7 nearby appraisal wells with log data - 5 wells with core data around the NDB laterals - 4 flow tests constrain deliverability around the Phase 1 area of interest Strong per well recoveries expected across the Phase 1 footprint underpin a capital-efficient development plan Development drilling commenced June 2023 5992000 6000000 6008000 6016000 5952000 5960000 5968000 5976000 5984000 5936000 5944000 Santos Pikka is Fully Appraised with Logs, Core Data, 1512000 1520000 1528000 NT3 Depth (feet - SSTVD) -3900.00 -3950.00 -4000.00 -4050.00 -4100.00 -4150.00 -4200.00 -4250.00 -4300.00 -4350.00 -4400.00 -4450.00 -4500.00 -4550.00 -4600.00 -4650.00 -4700.00 -4750.00 -4800.00 -4850.00 -4900.00 -4950.00 -5000.00 -5050.00 NDB Area Appraisal NT 2/3 Appraisal 4000 and Strong Flow Tests 1536000 1544000 COLVID RIVU 504 P PKKAB ST1 NDC Phase 2 COLVILLE R004 1552000 1560000 1568000 IGRUK 2 4000 Qua NDA Phase 2 POKA 1576000 350 41 Nanyshuk wells 2 Alpine wells NDB Phase 1 0 5000 10000 15000 20000ftUS 1:132037 OBERON 1 6016000 6008000 6000000 5992000 5984000 5976000 5968000 5960000 5952000 5944000 5936000 1512000 21 1520000 1528000 1536000 1544000 1552000 1560000 1568000 1576000

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