Karoon Energy Ltd · ASX:KAR
Karoon Energy — Shareholder Meeting (November 2022)
20 slides from Karoon Energy's shareholder meeting presentation, Nov 24, 2022
Slide 1: Karoon Annual General Meeting
Karoon Annual General Meeting 24 November 2022 sb fi KAROON ENERGY
Slide 2: Strategy Delivery
KAROON ENERGY » Strategy Delivery Julian Fowles, MD and CEO -p2
Slide 3: Disclaimer
Disclaimer eaeey This presentation has been prepared by Karoon Energy Ltd, The information contained in this presentationis for information purposes only and does not constitute an offer to issue, or arrange to issue, securities or other financial products. The information contained in this presenta
Slide 4: Karoon interests in Santos Basin, Brazil
Karoon interests in Santos Basin, Brazil bie BASIN ; ( a cm : “ff - , wy SF
Slide 5: Creating a strong foundation for growth
Creating a strong foundation for growth Performance above expectations from Bauna base business, with focus on safety, reliability and strict capital controls On track to more than double production through delivery of Bata intervention and Patola development projects Pursuing organic and inorganic
Slide 6: Brazil: Attractive location to invest
Brazil: Attractive location to invest be AER Prospectivity and favourable fiscal terms > Brazil is world’s 9th largest oil producer, set to become 5th by 2030 through continued development of highly productive upstream assets > Oil and gas industry well established with stable regulator > Long tradi
Slide 7: Baúna Operating Performance
Batina Operating Performance High facilities uptime and active well management > Core focus is on maintaining safe and reliable operations: > TRIR of 0.77 per 200,000 hours worked in FY2022 > High operational uptime in FY2022 of 99%' maintained through 1023, despite intervention activity ongoing > R
Slide 8: Baúna and Patola field well map
BM-S-40 PRA-1 SPS-57 SPS-93 SPS-92 Piracaba PRA-2 PRA-3 Baúna PAT-1 PAT-2 SPS-56 SPS-91 BAN-1 SPS-87D Patola SPS-88 SPS-89
Slide 9: Utilising Maersk Developer rig
Utilising Maersk Developer rig Wet Christmas Tree pm Wet Christmas Tree <5 <- Legend: Mo cas I Equipment replaced Tubing Hanger Wet Christmas Tree Electrical Submersible Pump (ESP) KAROON -p9
Slide 10: Patola Development
Patola Development KAROON ENERGY Targeting >10,000 bopd, increasing total production to >30,000 bopd > % on.s.00 > Patola development drilling complete Preliminary analysis of PAT-1 results indicates top reservoir depth and reservoir thickness within expected range, reservoir quality better than ant
Slide 11: FY2023 Indicative Production and Cost Profile
FY2023 Indicative Production and Cost Profile! KAROON ENERGY Material production growth and cost reductions expected INDICATIVE PRODUCTION PROFILE (MMBBL) 7.5-9 4.6 = oS FY20214 FY2022A FY2023F INDICATIVE UNIT OPERATING COST (US$/BBL) 25 25 L L - FY20214 FY20224 FY2023F > Interventions and Patola ta
Slide 12: Potential Neon Development
Potential Neon Development be Ee Control well drilling aimed at de-risking development Interproted Fluid Zones =e > Neon, Goia light oil discoveries 50-60km NE of Batina — pier nee oa > One, potentially two, control wells, Neon-1 and Neon-2, to be drilled after Patola development drilling? Potential
Slide 13: Assessing Inorganic Growth Options
ENERGY Assessing Inorganic Growth Options bie Disciplined process to identify value-accretive growth opportunities >» Continuing to actively screen inorganic growth opportunities >» Focus on oil assets located in Brazil and the Americas > Rigorous and disciplined screening process used, with key cri
Slide 14: Carbon neutral in FY2021, targeting Net Zero by 2035
KAROON & C Carbon neutral’ in FY2021, targeting Net Zero’ by 2035 Climate targets: Carbon neutral! on Batina operations from FY2021 - achieved for FY2021 and planned to be achieved for FY2022, with Net Zero by 20352 Scope 1 and 2 emissions in FY2022 of 82,870 tCO,e (82,805 tCO,e Scopel, 65 tCO,e Sco
Slide 15: Implementing our Carbon Management Action Plan
A /) VW karoon 2 Implementing our Carbon Management Action Plan Priority to reduce emissions where possible. Emissions reduction projects implemented: Optimisation of support vessel movements avoided ~1,000 tCO,e Scope 1 emissions Mooring buoy project, allowing vessels to anchor safely while at FPSO
Slide 16: Social Projects
Social Projects Aiming to generate lasting benefits for communities > In addition to regulatory social projects, committed to four voluntary social projects in Brazil, focused on Education, Sustainable Economic Development and Biodiversity: > Pro-CREP - comprises container production warehouse and w
Slide 17: Karoon's five pillar sustainability plan
Karoon’s five pillar sustainability plan bie Other achievements in FY2022 > First standalone Sustainability Report released in August 2022 > First Modern Slavery Statement submitted in December 2021 > Major investment in cyber security upgrades > Scope 3 emissions reported for first time > 46% femal
Slide 18: Cash and Available Liquidity
Cash and Available Liquidity bie ENERGY FACILITY TENURE (USS MILLION) > At 30 September 2022, total liquidity of US$361.8 million, 250 210 210 210 210 comprising US$181.8 million cash/cash equivalents and 200 USS$180 million in undrawn available debt 50 50 50 50 1s8 ee 38 wos > Debt facility compris
Slide 19: Summary: Well Positioned to Deliver Shareholder Value
Summary: Well Positioned to Deliver Shareholder Value bie Strong base business with organic and inorganic growth potential > One of the few ASX listed companies with pure oil exposure > Three-well Batina intervention program has added ~11,000 bopd to production, stabilised at ~24,000 bopd prior to n
Slide 20: KAROON
KAROON ENERGY