Horizon Oil Limited · ASX:HZN
Horizon Oil — FY2026 Earnings Presentation
24 slides from Horizon Oil's earnings presentation, Aug 27, 2026
Slide 1: FY26 Results Presentation
20 HORIZON OIL LIMITED (ASX: HZN) FY26 RESULTS PRESENTATION 26 AUGUST 2026 HORIZON FY26 RESULTS
Slide 2: Compliance Statement
COMPLIANCE STATEMENT ● This presentation contains forward-looking statements regarding future events, including future production, reserves and resources, costs, revenues, commodity prices, cash flows, dividends, returns, development activities and growth opportunities . Forward-looking statements a
Slide 3: Horizon at a Glance
HORIZON AT A GLANCE A DIVERSIFIED, RESILIENT AND CASH - GENERATIVE FIVE - COUNTRY ASIA - PACIFIC OIL & GAS PRODUCER, DELIVERING RESERVES GROWTH, STRONG CASH GENERATION AND DISCIPLIN ED CAPITAL ALLOCATION Diversified Asia -Pacific portfolio Five -country Asia -Pacific footprint across Thailand, Indon
Slide 4: Diversified Asia-Pacific Producing Portfolio
DIVERSIFIED ASIA - PACIFIC PRODUCING PORTFOLIO 2P reserves China, Beibu Gulf 13.6 MMBOE Block 22/12 oil project HZN 26.95% working interest Onshore Thailand Sinphuhorm gas field 2C resources HZN 7.5% effective interest Nam Phong gas field HZN 60% effective interest Indonesia 19.8 MMBOE Mahato PSC (o
Slide 5: FY2026 Investment Highlights
FY2026 INVESTMENT HIGHLIGHTS RECORD PRODUCTION, STRONG CASH GENERATION AND AN ENLARGED ASIA - PACIFIC PRODUCTION PLATFORM TOTAL SHAREHOLDER TOTAL FY26 DIVIDENDS PRODUCTION RETURN 18% AUD2.5 cps 1 2.15MMboe Including FY26 distributions 1.5 cps interim plus 1.0 cps final Record FY26 net production CAS
Slide 6: ESG Performance
ESG PERFORMANCE CONTINUED FOCUS ON ESG PERFORMANCE LOST TIME INJURIES ● Safety performance remained better than industry Per million hours worked benchmarks across the portfolio 2.5 ● Developed Horizon's Sustainability strategy, action plan and FY 27 goals and targets, aligned with 2.0 Horizon's new
Slide 7: Delivering on Strategy
DELIVERING ON STRATEGY RECORD PRODUCTION, PORTFOLIO EXPANSION AND DISCIPLINED CAPITAL A LLOCATION STRENGTHENED HORIZON’S PLATFORM FOR SUSTAINABLE GROWTH AND SHAREHOLDER RETURN S MAXIMISE CASH FLOW REINVEST FOR GROWTH RETURN CAPITAL ● Record production of 2.15 MMboe and ● Integrated the Thailand asse
Slide 8: Reserves and Resources
1 RESERVES AND RESOURCES 2P RESERVES RECONCILIATION (MMboe) 2C CONTINGENT RESOURCES RECONCILIATION (MMboe) ● Net 2P Reserves up 51% from 9.0 MMboe (43% liquids) at 19.8 30 Jun 2025 to 13.6 MMboe (27% liquids) at 30 Jun 2026. 13.6 (51% YOY (61% YOY Acquisitions, revisions and transfers added 6.7 MMbo
Slide 9: Financial Report
FINANCIAL REPORT HORIZON FY26 RESULTS
Slide 10: FY26 Financial & Commercial Highlights
FY26 FINANCIAL & COMMERCIAL HIGHLIGHTS HIGHLIGHTS FY2026 FY2025 ● RECORD PRODUCTION & SALES VOLUMES – 2.15 Production Volumes 1 (MMboe) (net working interest) 2.15 1.62 million boe produced and 1.98 million boe sold in FY26,CONTINUE INVESTING supported by the IN successful integration of the Thailan
Slide 11: Strong Cashflow
STRONG CASHFLOW DRIVING BOTH SHAREHOLDER RETURNS, DEBT REDUCTION & CONTINUED INV ESTMENT US$ MILLION (40.6) 4.0 (12.0) 95.7 ( 33.1 ) 47.2 30.2 ( 25.6 ) ( 10.6 ) ( 3.2 ) ( 7.4 ) 39.8 37.4 Opening cash Revenue Operating Dividends Corporate, Net cash Dividends Debt Payments for Net proceeds Payments fo
Slide 12: Record Production & Sales Volumes
RECORD PRODUCTION & SALES VOLUMES OIL & GAS SALES 1 UNDERLYING REVENUE1,2,3 2.5 200 100 2.0 160 80 1.5 120 60 US$/boe MMboe US$m 1.0 80 152.1 40 1.77 1.98 1.62 108.1 111.5 105.3 107.2 1.30 0.5 1.20 40 20 - 0 0 FY2022 FY2023 FY2024 FY2025 FY2026 FY2022 FY2023 FY2024 FY2025 FY2026 Oil & gas sales Oil
Slide 13: Continued Profitability
CONTINUED PROFITABILITY EBITDAX 1,2 AND CASH OPERATING COST PER BOE PROFIT AFTER TAX 1,2 120 30 60 120 100 25 50 100 80 20 40 80 US$/boe US$m US$/boe US$m 60 15 30 60 103.5 43.9 40 10 20 40 73.0 71.5 54.8 56.4 25.9 24.3 20 5 10 20 12.2 11.1 0 0 0 0 FY2022 FY2023 FY2024 FY2025 FY2026 FY2022 FY2023 FY
Slide 14: Strong Free Cashflow
STRONG FREE CASHFLOW FREE CASH FLOW 1 HISTORICAL NET CASH/(NET DEBT) AND DISTRIBUTIONS 100 200 80 160 60 120 40 183.0 US$m 149.9 US$m 72.0 64.2 80 118.1 56.9 81.2 20 35.9 47.2 34.8 40 0 (10.4) (9.7) (15.0) (10.6) 42.8 35.7 26.2 13.7 (20) (32.3) 0 (11.3) (40) (40) FY2022 FY2023 FY2024 FY2025 FY2026 F
Slide 15: Asset Update & Outlook
ASSET UPDATE & OUTLOOK HORIZON FY26 RESULTS
Slide 16: Thailand: Nam Phong and Sinphuhorm
THAILAND: NAM PHONG (NP) AND SINPHUHORM (SPH) LOW- COST, OIL- LINKED DOMESTIC GAS WITH NEAR -TERM DELIVERABILITY UPSIDE Thailand is a significant cash - flow contributor. With material 2P reserves and 2C/2U resource opportunities linked to Pad D, inf ill drilling, compression and potential concessio
Slide 17: Indonesia: Mahato and Sampang
INDONESIA: MAHATO AND SAMPANG ACTIVE NEAR -TERM OIL GROWTH AT MAHATO AND DISCIPLINED EXIT STRAT EGY AT SAMPANG At Mahato, long - life oil production in a proven basin with substantial growth potential, while at Sampang, domestic gas deliveri es into the fast - growing Indonesian market MAHATO PSC KE
Slide 18: Australia Amadeus Basin: Mereenie, Palm Valley & Dingo
AUSTRALIA AMADEUS BASIN: MEREENIE, PALM VALLEY & DINGO DOMESTIC GAS PLATFORM WITH ESTABLISHED INFRASTRUCTURE, MATERIAL RESOURCE BASE AND NEAR -TERM DRILLING CATALYSTS Long - life production underpinned by long - term sales with material future expansion opportunities KEY ASSET HIGHLIGHTS STRATEGIC D
Slide 19: Maari Oil Project
MAARI OIL PROJECT ESTABLISHED OFFSHORE OIL CASH FLOW WITH FUTURE INFILL OPTIONALIT Y Maari remains a mature offshore oil contributor, with near - term workover focus sustaining production and future infill and life - extension optionality KEY ASSET HIGHLIGHTS ASSET OVERVIEW HORIZON INTEREST ESTABLIS
Slide 20: Block 22/12 Oil Project: Beibu Gulf, China
BLOCK 22/12 OIL PROJECT: BEIBU GULF, CHINA RELIABLE OFFSHORE OIL PRODUCTION WITH OPTIMISATION AND 12 - 8E UPS IDE Block 22/12 continues to provide material production and cashflow, aided by its low cash operating cost. KEY ASSET HIGHLIGHTS Export to Weizhou WZ6-12 North ASSET OVERVIEW Terminal WZ6-1
Slide 21: Acquisitions Have Built a Stronger Production Platform
ACQUISITIONS HAVE BUILT A STRONGER PRODUCTION PLATFORM THE PORTFOLIO HAS GROWN THROUGH ASSET ACQUISITIONS, WITH THE ADD ITION OF MEREENIE, THAILAND AND CUE SUPPORTING BASE PRODUCTION AND FUTURE ORGANIC GROWTH POTENTI AL TO 2035 AND BEYOND HISTORICAL PRODUCTION AND INDICATIVE FORECAST TO END 2035, BO
Slide 22: Near Term Value Runway
NEAR TERM VALUE RUNWAY 2026 2027 2028 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Nam Phong booster compression First Gas THAILAND, Sinphuhorm Pad D (PH-1ST1& PH14) NAM PHONG & tie-in and deliverability First Gas enhancement SINPHUHORM Sinphuhorm 2027 drilling program long leads procured First Gas three infill wells
Slide 23: Investment Highlights
INVESTMENT HIGHLIGHTS A DIVERSIFIED, RESILIENT AND CASH - GENERATIVE FIVE - COUNTRY ASIA - PACIFIC OIL & GAS PRODUCER, DELIVERING RESERVES GROWTH, STRONG CASH GENERATION AND DISCIPLIN ED CAPITAL ALLOCATION ● 9 Production assets across five countries representing a highly diversified portfolio Materi
Slide 24: Contacts
CONTACTS Richard Beament CEO 20 26 +61 2 9332 5000 info@horizonoil.com.au Horizon Oil Limited Level 4, 360 Kent Street Sydney NSW 2000 Australia horizonoil.com.au HORIZON FY26 RESULTS