Dana Gas Pjsc · ADX:DANA
Dana Gas Pjsc — Investor Presentation (November 2025)
34 slides from Dana Gas Pjsc's investor presentation, Nov 11, 2025
Slide 1: Cleaner Energy for the Future
Corporate Presentation Cleaner Energy for the Future November 2025
Slide 2: Contents
Contents 1. Performance Snapshot Page 4 2. Dana Gas At a Glance Page 6 3. Why Invest in Dana Gas Page 9 4. Operational Performance Page 11 5. Sustainability Page 21 6. Financial Performance Page 24 7. In Closing Page 33 2
Slide 3: Disclaimer
Disclaimer This presentation contains forward-looking statements which may be identified by their use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “estimates” or other words of similar meaning. All statements that address expectations or projections abo
Slide 4: 1. Performance Snapshot
CLEANER ENERGY FOR THE FUTURE 1. Performance Snapshot 4
Slide 5: Latest Earnings Update – 9M 2025
Latest Earnings Update – 9M 2025 Operations Liquidity Group operations remained stable programme underway Cash balance: $183mm, incl. Receivables (Dana Gas share): and uninterrupted in 9M 2025 $150mm at Pearl JV Egypt continues make steady • KRI: $76mm Successful early completion of progress on dril
Slide 6: 2. Dana Gas At a Glance
CLEANER ENERGY FOR THE FUTURE 2. Dana Gas At a Glance 6
Slide 7: Dana Gas At a Glance
Dana Gas At a Glance A growth-focused regional gas company listed on the Abu Dhabi Securities Exchange What We Do Where We Operate By the Numbers* Produce and deliver domestic Market Cap Net production gas, condensate and LPG to the KRI and Egypt, supplying critical TURKEY Kurdistan Region of Iraq (
Slide 8: Group Structure
Group Structure Strategic partnerships anchored in Pearl Petroleum Dana Gas PJSC Pearl Petroleum, formed in 2009 by Crescent Petroleum and Dana Gas, is a five-shareholder partnership, including four listed entities across Europe and the Middle East. 100% 100% Established in 2009 by Crescent Petroleu
Slide 9: 3. Why Invest in Dana Gas
CLEANER ENERGY FOR THE FUTURE 3. Why Invest in Dana Gas 9
Slide 10: Why Invest in Dana Gas
Why Invest in Dana Gas Strong cash flow generation, dividend distribution and substantial organic growth potential 2P gas reserves of over 1 billion boe net to Dana Gas World-class gas reserves; 1 Huge production growth potential 50% production increase by the end of 2026 (gas sales revenue to doubl
Slide 11: 4. Operational Performance
CLEANER ENERGY FOR THE FUTURE 4. Operational Performance 11
Slide 12: KRI: World Class Assets and Low-Cost Production
KRI: World Class Assets and Low-Cost Production Partnering to deliver energy security for the Kurdistan Region of Iraq Pearl Petroleum holds 100% WI in the PDA covering Khor Mor, Chemchemal, and exploration Blocks 19 & 20 Kor Mor is producing; Chemchemal is in appraisal and early development phase K
Slide 13: Years of Reliable Production; Significant Growth to Come
15 Years of Reliable Production; Significant Growth to Come Dana Gas is expecting a substantial increase in production with KM250 onstream: with monetized gas production set to almost double from 2026 onwards. KM250 to increase production capacity by c. 50% (2026 onwards) 1000 900 Second bypass Firs
Slide 14: KRI: Resilient Operations Driving Steady Growth
KRI: Resilient Operations Driving Steady Growth Organic production growth underpinned by stable revenues and robust collections KRI Production Continuing Pearl Production Unaffected Improved Payment Structure Supporting to Grow Organically By KRI Political Issues & Regional Export Healthy Cash Flow
Slide 15: KM250: Completed Ahead of Schedule – Unlocking the Next Phase of Growth
KM250: Completed Ahead of Schedule – Unlocking the Next Phase of Growth Project successfully delivered eight months early, adding 50% to processing capacity Delivering Step-Change in Capacity and Cash Flow Project completed and commissioned in October 2025, eight months ahead of the revised schedule
Slide 16: KM250: Additional Site Images
KM250: Additional Site Images 16
Slide 17: Chemchemal: High-Impact Growth Beyond KM250
Chemchemal: High-Impact Growth Beyond KM250 Appraisal and development underway for Pearl’s second gas field in the KRI. Chemchemal is one of Iraq’s largest undeveloped gas fields. Chemchemal EWT Project Highlights Reserves Overall Field Layout Stage: Estimated total volume initially FID approved, ea
Slide 18: Egypt: Trusted Deliverer
Egypt: Trusted Deliverer 17+ years of reliable gas supply, contributing to Egypt’s energy security and domestic market stability Egypt Offers Diversified Production and Cash Flow Dana Gas Egypt (DGE) has been operating in Egypt since 2007; currently the 7th largest gas producer in the country Curren
Slide 19: Egypt: Unlocking Value Through Focused Reinvestment
Egypt: Unlocking Value Through Focused Reinvestment Two-year investment programme to boost output and value advancing $100 million, two-year programme launched following signing of Historical Production Profile kboe/d Consolidated Concession Agreement (2024) • Programme aims to drill 11 wells and ex
Slide 20: UAE Gas Project – Material Monetization Opportunity
UAE Gas Project – Material Monetization Opportunity Arbitration process underway with confirmed first arbitration award of $607 million and significant additional claim in progress The UAE Gas Project involves the purchase of 600 MMscf/d imported gas sourced from the National Iranian Oil Company (NI
Slide 21: 5. Sustainability
CLEANER ENERGY FOR THE FUTURE 5. Sustainability 21
Slide 22: Delivering Measurable Sustainability Impact Across Our Operations
Delivering Measurable Sustainability Impact Across Our Operations Dana Gas operates with As the main domestic gas We are committed to safe, We have reduced a top quartile carbon intensity supplier in the KRI and a responsible operations, GHG emissions by 59% over profile, recording 5.39 kg CO₂ long-
Slide 23: Delivering Measurable Sustainability Impact Across Our Operations (contd.)
Delivering Measurable Sustainability Impact Across Our Operations (contd.) 2024 sustainability performance highlights Performing Responsibly Safeguarding Our Workforce and Assets Contributing to In-Country Value Significant spills over Voluntarily offset CO2e Lost-Time Incident free at Safety observ
Slide 24: 6. Financial Performance
CLEANER ENERGY FOR THE FUTURE 6. Financial Performance 24
Slide 25: Production
Production KRI production up 1% YoY; Egypt volumes impacted by natural field declines ahead of new investment cycle which is expected to support recovery Average Production 9M 2024 vs 9M 2025 (kboepd) Quarterly Breakdown of Production (kboepd) 55.3 55.3 50.9 LPG LPG 6.0 5.9 50.7 5.4 Condensate 5.4 C
Slide 26: Realized Prices
Realized Prices Softer Brent-linked prices; uplift from new Egypt gas pricing and stable LPG helped protect margins Average Realized Price – Condensate $/bbl Average Realized Price – LPG $/boe 83 83 80 80 75 71 72 71 69 69 65 63 56 52 50 48 44 44 39 36 35 33 36 34 33 34 34 30 29 28 29 28 Brent Dana
Slide 27: Revenue Highlights
Revenue Highlights Revenue impacted by lower Egypt volumes and softer oil prices; uplift from Egypt gas pricing and higher volumes in the KRI partially offset revenue decline. Once fully operational KM 250 is expected to add $150mm to the Company’s annual revenue. Gas Condensate LPG Total Historical
Slide 28: Profit Highlights
Profit Highlights 8% drop in profitability in 9M; mainly driven by lower quantities in Egypt (-$33mm), lower realized prices in the KRI (-$11mm) and higher operating costs (+7mm). Offset by stronger pricing in Egypt (+$12mm), lower DDA charges(-$9mm) and reduced finance (-$6mm) Annual EBITDA $mm Q3
Slide 29: CAPEX / OPEX / G&A Highlights
CAPEX / OPEX / G&A Highlights Capex increased with KM250 and Egypt drilling ramp-up; OPEX and G&A remain efficient and within top quartile at $4.05/boe Egypt operating costs rose by $2mm in 2025, primarily due to scheduled maintenance at the El Wastani plant in Q2, while the increase in KRI costs wa
Slide 30: Balance Sheet Evolution
Balance Sheet Evolution Low corporate leverage maintained over last decade; Pearl project debt supporting KM250 expansion – expected to enhance cash flow once online Continued improvement in balance sheet Dana Gas Borrowing Evolution $mm strength with minimal corporate debt 723 Dana Gas Corporate De
Slide 31: Receivables and Collections
Receivables and Collections Timely payments from partners remain key to sustaining investments and operational momentum Cash collections totalled $183mm in 2024 Full Year 9M 2025 2025 KRI Egypt (105% Realization) Egypt (79% Realization) • 94% collection realisation in 95* 42 9M 2025 (33) • Dana Gas
Slide 32: 7. In Closing
CLEANER ENERGY FOR THE FUTURE 7. In Closing 32
Slide 33: Focused on Delivering Growth, Strengthening Cash Flow and Continuing to Create Shareholder Value
Focused on Delivering Growth, Strengthening Cash Flow and Continuing to Create Shareholder Value 2025-2026 Delivery Priorities Continue to Create Shareholder Value Realize full benefits from KM250 completion; output and revenue Consistent delivery from world-class KRI asset base increase Deliver Che
Slide 34: Contact Us
Contact Us Dana Gas PJSC P. O. Box 2011, Sharjah, UAE E-mail mohammed.mubaideen@danagas.com Direct +971 6 519 4401 www.danagas.com
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