Invictus Energy Limited · ASX:IVZ
Invictus Energy — Investor Presentation (April 2026)
20 slides from Invictus Energy's investor presentation, Apr 29, 2026
Slide 1: Investor Presentation
Investor Presentation Unlocking a new hydrocarbon province in the Cabora Bassa Basin April 2026 invictusenergy.com ASX: IVZ I OTCQB:IVCTF I VFEX: INV
Slide 2: Disclaimer
DISCLAIMER This document is for information purposes only. It is not a prospectus, disclosure document or offering document under Australian law or under any other law and does not constitute an offer or invitation to apply for securities. In particular, this document is not an offer of securities f
Slide 3: Invictus Snapshot
INVICTUS SNAPSHOT LISTED MARKET CAP HQ ACREAGE OPERATOR OTCQB: IVTCF SG 4571 ASX:IVZ | VFEX:INV A$121M @ $0.07 Perth, WA 360,000 ha | EPOs 1848/49 80% Upstream E&P operator developing the Cabora Bassa Project — Sub-Sahara Africa's 2nd-largest oil/gas discovery of 2023# Dominant Licence Position Sign
Slide 4: Invictus Board & Management Team
Invictus Board & Management Team Experienced Board leverages expertise from successful African E&P independents & IOCs JOE MUTIZWA JOHN BENTLEY ROBIN SUTHERLAND SCOTT MACMILLAN GLEN BOWMAN RYAN SINGH Deputy Chairman & Non-Executive Non-Executive Chairman Non-Executive Director Managing Director & CE
Slide 5: Cabora Bassa Portfolio - Multi TCF gas plus billion-barrel oil potential
Cabora Bassa Portfolio - Multi TCF gas plus billion-barrel oil potential* Invictus has matured a substantial portfolio through successful execution of two large seismic acquisition surveys and drilling two gas discoveries in Mukuyu EASTERN BASIN DANDE EASTERN BASIN ANGWA A MUSUMA B MOPANE C MURURO D
Slide 6: Invictus & Cabora Bassa History And Future Project Strategy
Invictus & Cabora Bassa History And Future Project Strategy Proven execution maturing assets from frontier exploration through to development and production CB23 seismic results Invictus acquires Mukuyu-1 — multiple hydrocarbon- MOU for Gas to Power pilot project bearing reservoirs & working with Hi
Slide 7: Zimbabwe's Positive Investment Environment
Zimbabwe’s Positive Investment Environment Pro-business reforms coupled with bankable petroleum industry regulatory framework REGULATORY & LEGAL FRAMEWORK Petroleum Production Amended Indigenization Sharing Agreement (PPSA) & Empowerment Act • Administered by Ministry of • 100% foreign ownership of
Slide 8: Strategic Priorities for 2026-2027
1 SECURE THE FOUNDATION • $10M Capital Raise to support near term activity completed • Execute Petroleum Production Sharing Agreement (PPSA) with Republic of Zimbabwe. • Complete farmout or financing to support activity. • Pursue new venture acquisition with non-dilutive funding. 2 EXPAND THE RESOUR
Slide 9: Musuma-1: High Impact Low Cost Well - Drilling H2 2026
Musuma-1: High Impact Low Cost Well - Drilling H2 2026 Targeting 1.2 Tcf + 77 million bbls condensate (gross mean unrisked) / High Side 3.2 Tcf + 197 million bbls; GPOS 38% • Dande reservoirs intersected at Mukuyu correlated to seismic amplitude and velocity anomalies in eastern basin tilted fault b
Slide 10: Musuma-1: Westwood "Key Wells to Watch 2026"
Musuma-1: Westwood “Key Wells to Watch 2026” Why it matters • Westwood's inclusion of Musuma-1 in its global "Key Wells to Watch 2026“1 list places Invictus alongside the year's most consequential frontier exploration tests, validating Cabora Bassa's scale following the Mukuyu gas discovery. The wel
Slide 11: Southern Africa: A Gas-starved Market
Southern Africa: A Gas-starved Market Gas Price >US$10/mcf with multiple high-value markets in desperate need of new short, medium and long-term supply POWER GENERATION GAS SUPPLY OPTIONS & MARKET DEMAND Domestic shortfall ~2,500 MW; regional shortfall >10,000 MW. Tanzania Export via Southern Africa
Slide 12: Southern Africa: Large Scale Infrastructure to Deliver to Market
Southern Africa: Large Scale Infrastructure to Deliver to Market Multiple routes to markets across underutilised existing infrastructure INFRASTRUCTURE OFFTAKE OPTION INFRASTRUCTURE ROUTE TO DEMAND CENTRES Tanzania Dar es Salaam • Connect to ROMPCO pipeline (>600 MMscf/d capacity) via DRC Gas Harare
Slide 13: Critical Minerals Energy Supply
Critical Minerals Energy Supply Uniquely positioned to provide energy to the critical minerals industry US$8.6T Estimated value of stranded mine assets in Africa2 Critical Minerals Powerhouse • Southern Africa hosts globally significant critical minerals essential for the energy transition and indus
Slide 14: Commercialisation Pathway
Commercialisation Pathway Sequenced approach to supply the gas market as infrastructure build progresses E&A Appraisal & Further Exploration • Build and understand resource base to underpin Anchor/Target future development phases Customers Seismic Drilling Testing Studies Field Development Planning
Slide 15: Eureka Pilot Project
Eureka Pilot Project MoU with Himoinsa and Dallaglio to evaluate gas to power for nearby Eureka Gold Mine • Eureka is one of the largest gold mines in the Phase One - Pilot Development Phase Two - Piped Gas/Large-Scale country and is currently reliant on grid and diesel Gas to Power to Eureka Mine (
Slide 16: Corporate
Corporate invictusenergy.com I 16
Slide 17: Investment Catalysts Ahead
1 EXECUTE PPSA • Establishes a strong and bankable petroleum industry regulatory framework is critical to unlocking the full value of the Cabora Bassa Project and the Mukuyu discovery. 2 PARTNERING & FINANCING • Complete farmout process or secure alternative financing to fund future activity includi
Slide 18: New Ventures Strategy
1 STRATEGIC RATIONALE • Diversification beyond Cabora Bassa. • Cash flow generation. • Leverage Invictus’ technical capability to grow production and reserves. 2 ASSET TYPES • Producing assets. • Near-term development projects. • Undervalued opportunities. • Strategic M&A opportunities 3 GEOGRAPHIC
Slide 19: Investment Proposition
Investment Proposition DOMINANT POSITION IN NEW EXTENSIVE PORTFOLIO IN NEWLY DEEP BOARD & MANAGEMENT NEAR-TERM, HIGH IMPACT PETROLEUM BASIN PROVEN BASIN EXPERTISE EXPLORATION ACTIVITY • SG 4571 & EPOs 1848/49 located in • Discovered resources + upside of multi- • Successful Track record of discoveri
Slide 20: Get in touch
ASX: IVZ I OTCQB:IVCTF I VFEX: INV CONTACT US Get in touch Scott Macmillan Managing Director P. +61 (08) 6102 5055 E. info@invictusenergy.com L1 10 Outram Street West Perth WA 6005 invictusenergy.com ABN 57 063 977 579