Capricorn Energy Plc · LSE:CNE
Capricorn Energy — Shareholder Meeting (May 2025)
12 slides from Capricorn Energy's shareholder meeting presentation, May 22, 2025
Slide 1: 2025 Annual General Meeting
2025 Annual General Meeting Capricorn Energy PLC 22 May 2025
Slide 2: Disclaimer
Capricorn Energy PLC Disclaimer These materials contain forward-looking statements regarding Capricorn, our corporate plans, future financial condition, future results of operations, future business plans and strategies. All such forward-looking statements are based on our management's assumptions a
Slide 3: AGM Resolutions
Capricorn Energy PLC AGM Resolutions No. Resolution 1 To receive the report and accounts for the year ended 31 December 2024. 2 To approve the directors’ remuneration report contained in the report and accounts. 3 To re-appoint PricewaterhouseCoopers LLP as auditor. 4 To authorise the directors to d
Slide 4: Strategic delivery building a platform for growth
Capricorn Energy PLC Strategic delivery building a platform for growth Capricorn is a business grounded in financial discipline and committed to delivering scalable growth Shareholder returns-focused cultural shift >$600m returned Relationships with Egyptian government renewed PSC modernisation talk
Slide 5: Key milestone delivered in transformative concession agreement
Capricorn Energy PLC Key milestone delivered in transformative concession agreement • Eight existing development concessions plus one PSC Modernisation Process exploration concession consolidated into a single integrated concession (50% WI), with an increased Indicative footprint covering field exte
Slide 6: Asset potential aligned with investment incentives
Capricorn Energy PLC Asset potential aligned with investment incentives Current Western Desert concessions (x8) Merged concessions Obaiyed BED 2/17 BED 3 Sitra Others* FY25 Production Of mid guidance, 6,930 3,250 2,630 1,830 860 (boepd) 15,500 impacted ** Profit share 20% 17% 17% 17% 18-20% 27-29%**
Slide 7: Improved agreement unlocks higher returns and growth
Capricorn Energy PLC Improved agreement unlocks higher returns and growth • Sustainable cash flow All concessions being merged* Brent oil price Projected netback Cost base unchanged (i.e. same fixed ($/bbl) ($/boe) Opex and same G&A) Old terms New terms New fiscal terms drive free cash flow 40 8
Slide 8: Operational impact – consolidated concessions
Capricorn Energy PLC Operational impact – consolidated concessions Short term operational implications • Four rigs currently drilling development wells and to fulfil legacy exploration commitments • Company anticipates investing under new terms prior to formal ratification • Sequence optimisation un
Slide 9: Material discovered resource potential unlocked
Capricorn Energy PLC Material discovered resource potential unlocked Egypt reserves & resources Impact of merged concession on resources 500 Targeting contingent resource conversion to 2P 450 • New terms and extension facilitate a conversion of 2C resources to 2P reserves of which up to ~20 mmboe ex
Slide 10: Value proposition
Capricorn Energy PLC Value proposition >$200m 700 • Clear strategy and focus 700 • Improved concession 600 >$100m agreement terms 600 maximise the potential of the Egyptian portfolio 500 >$200m 500 • Value driven by GBp/share investment 400 400 • Focused on realisation US$ m of UK embedded value 300
Slide 11: Delivering business scale and longevity
Capricorn Energy PLC Delivering business scale and longevity Capricorn is a business grounded in financial discipline and committed to delivering scalable growth Strong track record of strategic priority delivery demonstrated by the reset business Renewed concession terms mark key milestone in the e
Slide 12: Annual General Meeting 2025
Annual General Meeting 2025 Capricorn Energy PLC 22 May 2025