Capricorn Energy Plc · LSE:CNE
Capricorn Energy — H1 2025 Earnings Presentation
17 slides from Capricorn Energy's earnings presentation, Sep 18, 2025
Slide 1: Half-Year Results Presentation
Half-Year Results Presentation 18 September 2025
Slide 2: Disclaimer
HY 2025 Results 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 and be
Slide 3: Introduction
Introduction Randy Neely
Slide 4: Delivering a clear pathway for scalable growth
HY 2025 Results Delivering a clear pathway for scalable growth Solid operational performance underpinned by a culture of operational and financial discipline Shareholder returns-focused cultural shift >$600m returned Delivered Relationships with Egyptian government renewed PSC modernisation talks in
Slide 5: Building business scale and longevity
HY 2025 Results Building business scale and longevity • Solid operational and financial 2023 performance driven by capital discipline Delivered • Unlocking value in Egypt through transformative concession agreement • Accelerating development drilling in H2 in line with commitments • Strong momentum
Slide 6: Transformative concession agreement
HY 2025 Results 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 extension opportunities Step timing
Slide 7: Value proposition
HY 2025 Results Value proposition 700 • Clear strategy and 700 focus • Improved concession 600 600 agreement terms maximise the potential of the Egyptian portfolio 500 >$200m 500 • Value driven by investment 400 400 • Focused on realisation US$m GBP/share of UK embedded value 300 300 • Consistent sh
Slide 8: Finance
Finance Eddie Ok
Slide 9: H1 2025 Financial performance
HY 2025 Results H1 2025 Financial performance • 20,342 boepd average WI production, 43% EGPC payment plan Production liquids forecast further • Revenues from Egypt production: $59m receipts of >$90m by year end Revenue • Oil price: $73.56/bbl • Gas price: $3/mscf Opex • $5.1/boe on a WI basis FY for
Slide 10: H1 2025 Cashflows and FY25 Guidance
HY 2025 Results H1 2025 Cashflows FY25 Guidance Production 17,000 – 21,000 boepd 80 Total Capex $75-85m 50.0 (0.7) Operating Costs $5-$7/boe 70 60 34.9 50 (5.8) (25.0) (3.7) US$m 40 32.5 30 (13.1) 23.3 20 (27.4) 10 0 * Opening cash at 1 January 2025 of $123m before Egypt debt drawn of $100m ** Closi
Slide 11: Operational update
Operational update Geoff Probert
Slide 12: Egypt H1 2025 activity
HY 2025 Results Egypt H1 2025 activity NUMB exploration SEH exploration • Fourth rig added success under review success under review to accelerate exploration and dedicated to development following the new operational terms effective 1 July • Hydrocarbon testing in two exploration wells ongoing to e
Slide 13: Prioritising production opportunities
HY 2025 Results Prioritising production opportunities Rig activity H2 2025 onwards 2025 2026 July August September October November December January February March April May June Rig 1 Rig 2 Rig 3 Rig 4 BED(50%) AESW (20%) Obaiyed/ North Matruh (50%) Operational activity update Near Field Exploratio
Slide 14: Resource potential unlocked
HY 2025 Results 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 discovered 2C resources to 2P reserves of which up to ~20 mmboe are expected to
Slide 15: Summary
Summary Randy Neely
Slide 16: Delivering scale and longevity
HY 2025 Results Delivering scale and longevity Capricorn is grounded in financial discipline and committed to creating shareholder value • Strong track record of delivery • Renewed concession terms mark key milestone in Capricorn’s Egypt asset ➢ Creates a relevant and sustainable business ➢ Expected
Slide 17: www.capricornenergy.com
C Capricorn Capricorn www.capricornenergy.com