Greenland Energy Company · NASDAQ:GLND
Greenland Energy — SPAC Merger (October 2025)
19 slides from Greenland Energy's SPAC merger presentation, Oct 20, 2025
Slide 1: Greenland Energy Company: A New Energy Frontier
G r een la n d E ne r g y Compan y A Ne w En erg y Fronti e r T h r o u g h bu si n e ss a c c o mm o d a t ion ag r ee m e n t P e li c a n A cqu isi t io n , G r ee n l a nd E x p lo r a t io n , a n d Ma r c h GL C o mp a n y s h a ll m e r g e i n t o G r ee n l a n d E n e r g y C o mp a n y .
Slide 2: Presentation disclaimer and confidentiality notice
Th i s p r e s ent a t i o n (th i s “ P r e s e n t a t i on ”) i s b e i n g f u r n i s h e d f o r t h e e x c l u s i v e u s e o f , a n d s o l e l y f o r t h e pu r po s e o f a ss i s t i n g , t h e p a r t i es ( s uc h p a r t i e s , to g ether w i th t h e i r s ub s i d i a r i es a
Slide 3: Over 2 Million Acres in Jameson Land Basin
▪ O v e r 2 M i ll i o n A c r es ▪ 3 L i c en se s c o v er i n g th e en t i r e b a s i n . ▪ 50 + L e a d s a n d p r o spe c t s . ▪ 1 ,800 - l i ne k m o f q u a l i t y 2 D d a t a c o v e ri ng m a j o ri t y o f t he b a s i n . ▪ O v e r 1 3 B i ll i o n Bar r e l s o f G r o s s O i l 1 D
Slide 4: Engineering and logistics team mobilizing for drilling
E n g i ne e ri ng Ha lli burton, IP T , and S ta m pede D rilli ng a r e m ob ili z i ng the i r pe r sonnel and equ i p m ent to Opt i m a ll y P os i t i oned W e ll s (O P W 1 and O P W 2) L o g i s t i c s a n d S e r v i c e P r o v i der D r i ll i n g O pe r a t i o n s O pe r a t i on s an
Slide 5: Over $280 million invested; drill-ready project
▪ S ei s m ic ▪ F ie l d W o r k ▪ D a t a P r o c e ss i ng a n d I n t e r p r e t a t i o n A R C O I n v e s tme n t ( i n 202 5 d o ll a r s ) $27 5 MM D r i ll - R e a d y P r o j e ct w i t h o v e r $280 M i ll i o n I n v e s t e d 8 0 Mil e E q u i p m e n t 8 0 Mil e a n d M a r c h G L M
Slide 6: ARCO discovered Prudhoe Bay
ARC O D iscove r e d P r udho e B a y - Th e La r ges t Oil F i e l d i n N o rt h A m e r ica The eng i ne of A l aska ’ s E c o no m y s i nce 1970s - 13 b illi on barre l s, 1 . 5 Milli on BO E/ day peak 1 R a n k e d J a m e s o n L a n d B a s i n a s t o p h y d r o c a r b o n p r os p e c t
Slide 7: Arctic Resources
A r ct ic Resou r ces 6 U SGS 1 E s t i m a t e s t h e A r c t i c C i r c le co n t a i n s 2 ,3 : • 30 % o f t h e w o r l d ’ s u nd i s c o v e r e d n a t u r al g a s r es o u r c es • 13 % of t h e w o r l d ’ s u n d i s c o v e r e d oi l r es o u r c es • 7 bas i n s w i t h o v e r 360 b
Slide 8: Play Analogues: Jameson Land Basin
PL A Y ANA L OG UES J ame so n L a n d B asin – M id N o r w a y / B a r e n t s S e a • U pp er P e r m i a n • C ar b o n a te bu il d - u p s o n loca l high s ( L opp a High , Bare nts S ea) • Int er - hig h pla t for m car b o n a t e s a nd clas t ic s ( L opp a High , Bare nts S ea) • D eepe
Slide 9: Direct Hydrocarbon Observations
D i r ec t H y d r oca r bo n O bse r va t i ons O i l a n d G as S ee p s A t S ur f a ce a n d G e n e ti c M a t c h t o N o r th S e a O i l 8
Slide 10: Proposed Well Locations: First Location OPW1
P r opose d W e l l Loca t i ons Fi r s t Loc a ti o n – O P W 1 (2 . 9 Billi o n B a r r e l s 1 ) 1 : P 1 0 R e s o u r c e Es t i m a t e , S p r o u l e - ER CE S e p t e m b e r 1 , 202 5 R e po rt 9
Slide 11: Proposed Well Locations: First Location OPW1 seismic
P r opose d W e l l Loca t i ons Fi r s t Loc a ti o n – O P W 1 (2 . 9 Billi o n B a r r e l s 1 ) A RC O se i sm i c d a ta r e p r o cesse d w i t h a d v a n ce d t ec hno l ogy L i n e 1 O P W 1 SW NE O PW 1 L i n e 2 1 : P 1 0 R e s o u r c e Es t i m a t e , S p r o u l e - ER CE S e p t e m
Slide 12: Proposed Well Locations: Second Location OPW2
P r opose d W e l l Loca t i ons Se c o n d Lo c a ti o n – O P W 2 (1 . 1 Billi o n B a r r e l s 1 ) 1 : P 10 R e sou r c e Es t i ma t e , S p ro u l e - E R C E S e p t e m b e r 1 , 2025 R e p ort R E S E R V OIR O PW 2 R E S E R V O IR 11
Slide 13: Largest Oil Fields in the World
La r ges t Oil F i e l d s i n t h e W o r l d ( No w S i gn i f i c a n t l y D e p l e t e d) Ja m eson Land Bas i n Ho l ds the P otent i al For Be i ng a T op O i l F i e l d i n the W or l d h tt p s : / / www . w o r l d wi d e - r s . c o m / b l o g / 2023 / 08 / u n ve ilin g - t h e - w o
Slide 14: Prudhoe Bay breakeven and modern Arctic economics
▪ P r u d h o e B a y $5+ / bb l b r e a k e v e n i n 1970s ▪ T h i s w a s w i t h 1960 s - 70 s t e c hn o l o gy a nd z e r o a r c t i c i n f r a s t ru c t u r e ▪ M o d e rn a r c t i c s u pp l y c h a i n s (i ce - c l a ss t a n k e r s , m o d u l a r p l a nt s , r em o t e o p e r a t
Slide 15: A Case Study: Norway, North Sea, and Barents Sea
A C as e S t ud y : N o r w a y , N o rt h S ea , an d B a r en t s S e a P r oduc t i on US D $1. 9 T r illi o n S ove r e i g n W ea l t h Fun d B u il t w i t h E ne r g y Resou r ces ▪ E st a b l i s h ed i n 199 0 t o m a n a g e su rp l u s p et ro l eu m re v e n u es f o r l o n g - t erm b
Slide 16: October Beach Landing on Jameson Land
Oc t obe r 202 5 B e a c h L a ndin g o n Jame s o n L a n d Th e tu g b o a t a n d b a r g e a r e e n r o u t e w ith th e r o ad a n d p ad building e qui p me n t. D 9 Bulld o z e r , E x c a v at o r , B a ck h oe, G e n e r at o r , T r u c k s, C r a n e, a n d H o u s in g E qui p me n t w
Slide 17: M/V Nordika Desgagnés Summer sailing
M/ V N o r d i k a D es g a g n és S u m m e r 202 6 t h e s h i p e x pe c t s t o sa i l f o r J a m eso n L a n d w i t h S t a m p e d e d r i l l i n g r i g , e q u i p m e n t a n d H a l l i b u r t o n S e r v i c e s 16
Slide 18: Equipment Mobilization October 2025
Equ ip m en t M ob ili z a t io n O c t obe r 2025 F i r s t W e l l E xpec t e d t o b e D r ill e d S u mm e r 2026 P er m i tt i n g c o m p l e t e f o r p l a c e m en t o f e a r t h m o vi n g equ i p m en t , w ork i n g w i t h Green l a n d M L S A ( Mi ner a l L ic ens e a n d S a f e t y
Slide 19: Transaction Summary and Pro Forma Ownership
28% 7% 59% 5% 1% Pu b lic S h a r e h o l d er s S p o n s o r S h a re h o l d er s M a r c h G L S h a re h o l de r s G r ee n l a n d S h a r e h o l d e r s U n d erw ri t e r S h a re h o l d ers T r a n s a c t i o n S u m m a r y P r o F o r m a V alu a t ion ( $mm , e x cept per sha r e) P
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