Prospex Energy Plc · LSE:PXEN
Prospex Energy — Investor Presentation (March 2026)
25 slides from Prospex Energy's investor presentation, Mar 26, 2026
Slide 1: Investor Meet Presentation
Investor Meet Presentation Corporate update, 26 March 2026 AIM : PXEN
Slide 2: Disclaimer
Disclaimer This Presentation does not constitute or form part of any offer for sale or solicitation of any offer to buy or subscribe for any securities nor shall it or any part of it form the basis of or be relied on in connection with, or act as any inducement to enter into, any contract or commitm
Slide 3: Investment Case & Process
PROSPEX RRO PLC Investment Case & Process
Slide 4: Investment criteria
Investment criteria Real energy assets Invested in natural gas, an essential energy Assets which become more valuable during periods commodity with resilient value of monetary inflation Resource sovereignty European focus offering security of supply in Assets which will be strategically more valuabl
Slide 5: Value creation
Value creation Prospex identifies opportunities in the European gas 1st market to invest in assets, financial instruments, or Production companies with a clear pathway to increasing value. Value ($/boe) Acquire FDP & FID Hold & add value Define Drill ready prospects Sell & capture return De-risking
Slide 6: Investment approach
Investment approach • Each asset is held with a specific investment objective • Valuation will be monitored and updated regularly • Any follow-on investment will be viewed through the lens of value add for Prospex shareholders The risked value of any In funding incremental incremental investment wil
Slide 7: Prospex Energy, December 2025
Prospex Energy, December 2025 • Attractive exposure to a series of high potential assets • Strategic exposure to the European energy market • Insufficient resources (human and capital) to advance all of these opportunities • AIM listed, no secured debt, CLN raise launched to fund near term investmen
Slide 8: Prospex Energy, March 2026
Prospex Energy, March 2026 • Asset review complete – clear value pathway for each Lookahead - balance of 2026 asset identified • Identified resourcing plan to ensure company has access to capital and people to deliver programme Engage with Spanish regulators regarding permits for Romeral and licence
Slide 9: Asset Summary
PROSPEX ENERGY PLC Asset Summary
Slide 10: Selva Malvezzi, Po Valley
Selva Malvezzi, Po Valley • Prospex holds 37%, operator Po Valley Energy 63% • Steady production @ c. 80,000 Scm/d (gross) • Gas sold to local utility Hera at premium to TTF gas price • 2026 focus is characterising upside opportunities through seismic processing, CPR preparation • EIA and drilling a
Slide 11: Selva Malvezzi, additional resource targets
Selva Malvezzi, additional resource targets • Surface well locations and subsurface targets identified for four new wells to be drilled on the concession • Drilling permits lodged with relevant Selva North authorities (9 Bcf) (gas) • Environmental update to be lodged Q2 2026 Selva (13 Bcf) • Opportu
Slide 12: Tarba Energía, Spain – Romeral power plant
Tarba Energía, Spain – Romeral power plant Prospex owns 100% interest in Tarba via shareholding • Historically gas was developed to supply electricity generation • Generation activity ceased in 2025 due to a transformer failure • A rental transformer was installed in late February, reinstating the a
Slide 13: Tarba Energía; El Romeral - 5 well programme
Tarba Energía; El Romeral - 5 well programme • Applications lodged with regulators to drill 5 wells and connect to export grid for direct export • Near term activity is focused on obtaining the permits and identification of farm-in partner • Re-assess project philosophy, phasing • Assessing opportun
Slide 14: Tarba Energía, Tesorillo and Ruedalabola Concessions
Tarba Energía, Tesorillo and Ruedalabola Concessions • Greater Andalusian Potential - Tesorillo & Ruedalabola concessions • Licences currently suspended • Key activity is to re-engage with regulators to support re-start of investigative activity in line with 2021 application • Two petroleum explorat
Slide 15: Viura, Rioja Province, Spain
Viura, Rioja Province, Spain • Production trials continue to support dynamic reservoir model calibration • Objective of the model is to support design of new well construction and placement • Average production rates during January and February 2026 are 101,000 Ncm/d gas and 148 cubic metres produce
Slide 16: San Licence, Poland – Miocene gas play
San Licence, Poland – Miocene gas play • Licence expected to be formally awarded in April/May 2026 • Highly prospective acreage on Gas fields< 20Bcf GIIP Miocene trend with clear commercial gas discovered on adjacent acreage • Limited activity since 2000 offers Gas fields> 20Bcf opportunity to apply
Slide 17: Dunajec licence, Poland – Miocene & Cretaceous/Jurassic
Dunajec licence, Poland – Miocene & Cretaceous/Jurassic • Licence expected to be formally awarded in April/May 2026 • Highly prospective acreage including Miocene gas play and Cretaceous and Mniscow discovery Jurassic oil & gas prospectivity • Limited activity since 2000 offers opportunity to apply
Slide 18: Dunajec licence, undeveloped Mniscow oil discovery
Dunajec licence, undeveloped Mniscow oil discovery • Multiple discovery wells in 1966 • 13m of oil pay in fractured carbonate at 600m depth • Historically mapped oil water contact shown which estimated c. 2 mmbbl OOIP • Mniszów-3 well (log inset): • 13m oil saturated interval • Cased hole test flowe
Slide 19: Summary and Outlook
PROSPEX ENERGY PLC Summary and Outlook
Slide 20: Unaudited cash reconciliation, 2025 and provisional Q1 '26
Unaudited cash reconciliation, 2025 and provisional Q1 ‘26 Unaudited Group C ash F low Provisional (C ash under sole control of Prospex ) 2025 2026 2025 Summary Q1 Q2 Q3 Q4 Total Q1 £000's £000's £000's £000's £000's £000's Group C ash on Hand at Beginning of Quarter 1,192 1,438 569 189 1,192 42 Sha
Slide 21: Reserves and Resources
Reserves and Resources Net 2C Contingent Net Best Estimate Net 2P Reserves Resources Prospective Resources 26 March 2026 Prospex Energy PLC | Corporate Presentation | Q1 2026 21
Slide 22: Key asset activity timeline
Key asset activity timeline ASSET 2026 2027 Value Delivery Deliver regulatory permits to drill and De-risk initial 5 targets converting contingent export direct to gas grid Romeral Introduce JV partner Drilling and associated tie-in works resources into proven reserves Progress proven reserves into
Slide 23: Prospex Energy – the Route to Value
Prospex Energy – the Route to Value Assets Convergence Explosive growth end 2026 2027+ Convergence occurs end 2026 when This convergence offers significant Tarba Energia all assets will reach decision points potential reserve and production related to significant work programmes growth in 2027 and b
Slide 24: Why Invest in Prospex?
Why Invest in Prospex? New leadership and reset completed Clear capital discipline with a non- dilutive, value focus Multiple assets approaching decision points Exposure to European gas security 26 March 2026 Prospex Energy PLC | Corporate Presentation | Q1 2026 24
Slide 25: www.prospex.energy
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