Condor Energies Inc · TSX:CDR
Condor Energies — Investor Presentation (March 2026)
25 slides from Condor Energies's investor presentation, March 2026
Slide 1: Corporate Presentation March 2026
Corporate Presentation March 2026 www.condorenergies.ca
Slide 2: Energizing Condor's Future
Energizing Condor’s Future Developing sustainable energy sources and critical minerals using proven Western technologies Canadian-based, TSX-listed with Executive Team experience of +100 years in Central Asia Established in 2006 by the founders of the multi-billion-dollar Osisko mining group P
Slide 3: Our Value Creation Strategy
Our Value Creation Strategy Build on current natural gas production to develop cleaner fuels + critical minerals that support Central Asia’s sustainable energy transition Advance critical mineral opportunities at Condor’s 2 licenses • Interpreting recent aeromagnetic survey for copper and lithium br
Slide 4: Advantages of Central Asia
Advantages of Central Asia Rapidly growing domestic energy and minerals demand with significant remaining resources Tashkent, Uz – Major Advancements in an Expanding Economy Stable and Safe Operating Environment Multiple super-major energy & mining companies continue to expand operations with ongo
Slide 5: Production Enhancement in Uzbekistan
Production Enhancement in Uzbekistan Condor is the first and only Western natural gas producer in Uzbekistan Large land position that is lightly developed Number of Active Field 282 8 71 gas fields Wells Area km2 • 8 licenses = 282 km2 or 109 sections with 71 active wells Q4 2025 10,534 Q4 2025 $2
Slide 6: Under-exploited Jurassic Stack
Under-exploited Jurassic Stack Multiple Play Types with Material Thicknesses, Derisked with Modern Technologies 1,400-meter column of stacked clastic and carbonate reservoirs • An extensive drilling inventory has been generated from multiple stacked pays Currently producing from Carbonates and J
Slide 7: Robust Prospect and Lead Inventory
Robust Prospect and Lead Inventory Application of Western technologies has identified an extensive opportunity base Example of Condor’s Inventory from Southern Asset Area 18 target structures identified from reprocessed 3-D seismic • Contiguous seismic coverage across all Condor’s fields has: – Id
Slide 8: Recent Drilling Successes
Recent Drilling Successes All three wells drilled to-date have encountered commercial hydrocarbons Andakli Field Andakli 21 horizontal TD’d at 3456 meters • 1279 m lateral – longest horizontal well drilled in Uzbekistan • Geo-steered to intersect over 960 m of Carbonate reservoir • Test flow rate
Slide 9: Near Term Cash Flow Growth
Near Term Cash Flow Growth Multiple initiatives to increase gas production rates and recovery factors Pad Drilling and Workover Operations Ongoing multi-well drilling campaign is increasing production rates and reserves volumes • Two wells completed and producing in February 2026 – Combined rate =
Slide 10: Modular LNG Overview
Modular LNG Overview Applying proven liquefaction technologies and end-user applications Modular LNG Facility LNG is cryogenic natural gas in a liquid state Stored at low pressure and -162° C 600x less volume than natural gas* LNG is easy and safe to transport and store Non-explosive, non-corr
Slide 11: LNG Production Benefits for Central Asia
LNG Production Benefits for Central Asia More environmentally friendly & cost-effective than diesel with better engine performance LNG reduces the carbon footprint of the equipment used to acquire and transport minerals that are critical for energy transition and renewable energy initiatives 30% L
Slide 12: Kazakhstan's 1st LNG Production in 2026
Kazakhstan’s 1st LNG Production in 2026 Condor’s LNG will help alleviate the impact of Kazakhstan’s diesel shortages Planning for Multiple Modular LNG Facilities is Underway 1st LNG production planned for late Q4 2026 • Recently purchased a 182,000 liters/day (48,000 gpd) facility will be transpor
Slide 13: Critical Mineral Licenses in Kazakhstan
Critical Mineral Licenses in Kazakhstan Awarded 2 x 6-year licenses with over 40,300 hectares in the Chu Sarysu Copper Basin Condor critical Minerals License Highlights: Condor’s Kolkuduk and Sayakbay Critical Mineral Licenses Active copper exploration activities underway in neighboring licenses b
Slide 14: Environment, Social & Governance
Environment, Social & Governance Environment Lead Sponsor of 2026 Grand Slam Judo Event E Introducing LNG production to reduce diesel fuel usage and reduce emissions Implementing Canadian Health, Safety and Environmental training and policy guidelines DLE lithium brine extraction for EV batter
Slide 15: Near Term Priorities & Catalysts
Near Term Priorities & Catalysts Increase Gas production Execute Financing Advance Kazakhstan Agreements for Modular LNG Critical Minerals in Uzbekistan Production in Kazakhstan Development Multi-well horizontal drilling Finalize project funding discussions Recent aeromagnetic survey program u
Slide 16: Condor's Leadership Team
Condor’s Leadership Team Decades of international experience, including a combined 80 years working in Central Asia EXECUTIVE BOARD OF DIRECTORS Don Streu – President, CEO & Director Dennis Balderston Former Chevron Chairman Honorary Consul: Republic of Kazakhstan for Alberta Former Partner at E&Y S
Slide 17: Management Biographies
Management Biographies Mr. Streu has over 40 years experience in the oil and gas industry including 22 years with Chevron working in Angola, Indonesia, Nigeria, Canada and the United States. Mr. Streu was the asset manager of Angola’s first deepwater production: a 100,000 bopd operation that went fr
Slide 18: Management Biographies
Management Biographies Mr. Mercier specializes in international resource project transactions and public-private investment law, and has advised operating companies, supply companies, financial institutions and governments on resource projects in over 25 countries. He was a partner and global co-cha
Slide 19: Appendix – Additional Information
Appendix – Additional Information November 2010 www.condorpetroleum.com
Slide 20: Barrels of Oil Equivalent Advisory; Non-Controlling Interest
Barrels of Oil Equivalent Advisory References herein to barrels of oil equivalent (“boe”) are derived by converting gas to oil in the ratio of six thousand standard cubic feet (“Mcf”) of gas to one barrel of oil based on an energy conversion method primarily applicable at the burner tip and does not
Slide 21: Abbreviations
Abbreviations $ Canadian dollars IP initial production rate % percent ISO International Organization for Standardization + more than Kz The Republic of Kazakhstan °C degrees Celsius Li Lithium 3D three dimensional LNG liquefied natural gas B Billion mg/L milligram per litre bbls barrels mLNG modular
Slide 22: Forward Looking Statements (1 of 3)
Forward Looking Statements (1 of 3) Certain statements contained in this presentation constitute forward looking statements. These statements may relate to future events or Condor’s future performance. All statements other than statements of historical fact are forward looking statements. The use of
Slide 23: Forward Looking Statements (2 of 3)
Forward Looking Statements (2 of 3) Regarding lithium historical estimates, the Company is not treating the historical estimate as current mineral resources or mineral reserves as additional drilling and testing is necessary, and a qualified person has not done sufficient work to classify the histor
Slide 24: Forward Looking Statements (3 of 3)
Forward Looking Statements (3 of 3) These risk factors are discussed in greater detail in filings made by Condor with Canadian securities regulatory authorities including the Company’s: Annual Information Form, Consolidated Financial Statements and related Management’s Discussion and Analysis for th
Slide 25: Market and Industry Data and Forecasts
Market and Industry Data and Forecasts Any market share, industry data and other statistical information contained in this presentation is based on a variety of sources, including internal data and estimates based on management’s beliefs, independent industry publications, government publications, r