Carnarvon Energy Limited · ASX:CVN
Carnarvon Energy — RIU South West Connect Conference 2026
20 slides from Carnarvon Energy's conference presentation, Oct 29, 2026
Slide 1: High-Impact Exploration in 2027
Click to edit Master title style rsonal use only High-Impact Exploration in 2027 RIU South West Connect Conference 29 October 2026 ASX:CVN 1
Slide 2: Disclaimer
Click to edit Master title style Disclaimer Contingent and prospective resources Forwarding looking statements The resource estimates outlined in this presentation are based on and fairly represent information and This presentation contains certain “forward looking statements” which involve subjecti
Slide 3: Who is Carnarvon Energy
Clickis Who toCarnarvon edit Master Energy title style Board of Directors Robert Black, Non-Executive Chair Australian Oil & Gas Explorer and Developer Finance and Commercial with a world class portfolio in the Bedout Susan Jones, Non-Executive Director rsonal use only Sub-basin, Western Australia L
Slide 4: Why Carnarvon Energy
ClickCarnarvon Why to edit Master Energy title style “National oil production more than halved in Q2 The nation needs new secure 2026, down 3.4 MMbbl (−53.6%) to a record and reliable sources of crude low of 2.9 MMbbl – one of the steepest quarterly rsonal use only oil – we can deliver falls in the
Slide 5: Where Carnarvon Energy Operates: Bedout Sub-basin
Bedout Click toisedit Where Carnarvon Master title Energystyle Sub-basin INDIAN OCEAN We have a vast, complimentary, high-growth, Broome PACIFIC OCEAN Western Australian focused energy portfolio rsonal use only Dampier Offshore Bedout Sub-basin WESTERN ASX:CVN | CORPORATE PRESENTATION AUSTRALIA 300k
Slide 6: The Bedout Sub-basin
Click The Bedout to editSub-basin Master title style Bedout Sub-basin An immense, under-explored oil rsonal use only WA-436-P (CVN: and gas basin with huge potential WA-435-P (CVN: 10%) 20%) and high historical success ASX:CVN | CORPORATE PRESENTATION ~2 in 3 exploration wells have found oil or gas
Slide 7: The Size of the Prize
Click The Size to edit of the Master Prize title style Quality data has nearly doubled the size of the potential resource in the Bedout Sub-basin rsonal use only +92% +107% ASX:CVN | CORPORATE PRESENTATION Total estimate for our prospective 2023 2026 3,233 resources rose from 3.3 to 6.3 billion boe
Slide 8: Success at Ara Unlocks Scale
Success at Ara Click to Game Changing edit Master Exploration title style unlocks scale WA-435-P WA-436-P “Australia could be set for another game-changer if (CVN: 10%) (CVN: 20%) the upcoming Bedout basin exploration campaign opens up a fresh offshore frontier” rsonal use only – Upstream Online | 6
Slide 9: Dorado – A Tier-1 Project Ready for Development
Dorado Click to –edit A Tier-1 Project Master Ready for Development title style In addition to exploration, Carnarvon holds equity in Australia’s largest offshore oil development project rsonal use only Dorado (and Pavo) Development ASX:CVN | CORPORATE PRESENTATION FEED-ready with pre-FEED work comp
Slide 10: Strike Energy – Onshore Gas and Power
Striketo Click Energy – Onshore edit Master title Gas styleand Power Carnarvon holds a 19.9% strategic investment in Strike Energy rsonal use only Recently announced the unlocking of the West Erregulla ASX:CVN | CORPORATE PRESENTATION Development, a significant onshore resource with a binding head o
Slide 11: Carnarvon Energy – Deep Value
Click to edit Carnarvon Master Energy titleValue – Deep style Our share price is backed by cash and our investment in Strike Energy representing deep value for investors rsonal use only Core value recognised in share price ASX:CVN | CORPORATE PRESENTATION CVN Share Price History A$97 million cash 0.
Slide 12: Multiple short & medium-term price catalysts
ClickCarnarvon Why to edit Master Energy title style Multiple short & medium-term price catalysts rsonal use only ASX:CVN | CORPORATE PRESENTATION Bedout Exploration Portfolio Dorado and Pavo Strike Energy Investment • High-impact drilling from Q2 2027 • 25 million barrels oil resources net • Walyer
Slide 13: Why Now: Funded to Unlock the Bedout Sub-basin
ClickNow Why rsonal use only to edit Master title style ASX:CVN | CORPORATE PRESENTATION CARNARVON ENERGY FUNDED TO UNLOCK THE BEDOUT SUB-BASIN Australia’s oil Dorado is the one Rig contracted and production has halved major new oil project funded for high-impact in a year - the time is on the horiz
Slide 14: Philip Huizenga, Chief Executive Officer
Click to edit Master title style rsonal use only ASX:CVN | CORPORATE PRESENTATION Philip Huizenga Chief Executive Officer E: investor.relations@cvn.com.au T: +61 8 9321 2655 Level 2, 76 Kings Park Road, West Perth, WA, 6005 www.carnarvon.com.au 14
Slide 15: Appendices
rsonal use only Appendices Click to edit Master title style ASX:CVN | CORPORATE PRESENTATION 15
Slide 16: Bedout Basin Contingent Resources
Click toBasin Bedout rsonal use only edit Master titleResources Contingent style ASX:CVN | CORPORATE PRESENTATION 16
Slide 17: Bedout Basin Prospective Resources: WA-435-P
Click toBasin Bedout edit Master titleResources* Prospective style WA-435-P Gross and Net Prospective Resources (10%) Liquids (MMbbls) Gas (Bscf) BOE (MMBOE) Risked rsonal use only CVN No. Prospect Permit Pg (%) P90 P50 Pmean P10 P90 P50 Pmean P10 P90 P50 Pmean P10 Mean equity Gross Net Gross Net Gr
Slide 18: Bedout Basin Prospective Resources: WA-436-P
Click toBasin Bedout edit Master titleResources* Prospective style WA-436-P Gross and Net Prospective Resources (20% Net) Liquids (MMbbls) Gas (Bscf) BOE (MMBOE) Risked CVN No. Prospect Permit Pg (%) P90 P50 Pmean P10 P90 P50 Pmean P10 P90 P50 Pmean P10 Mean rsonal use only equity Gross Net Gross Ne
Slide 19: Bedout Basin Prospective Resources: WA-437-P
Click toBasin Bedout edit Master titleResources* Prospective style WA-437-P Gross and Net Prospective Resources (10% Net) Liquids (MMbbls) Gas (Bscf) BOE (MMBOE) Risked CVN rsonal use only No. Prospect Permit Pg (%) P90 P50 Pmean P10 P90 P50 Pmean P10 P90 P50 Pmean P10 Mean equity Gross Net Gross Ne
Slide 20: Bedout Basin Prospective Resources: WA-438-P
Click toBasin Bedout edit Master titleResources* Prospective style WA-438-P Gross and Net Prospective Resources (20% Net) rsonal use only Liquids (MMbbls) Gas (Bscf) BOE (MMBOE) Risked CVN No. Prospect Permit Pg (%) P90 P50 Pmean P10 P90 P50 Pmean P10 P90 P50 Pmean P10 Mean equity Gross Net Gross Ne
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