Adx Energy Ltd · ASX:ADX

Adx Energy — Shareholder Meeting (May 2019)

16 slides from Adx Energy's shareholder meeting presentation, May 31, 2019

1. Slide 1: AGM Presentation Update

   For personal use only ADX Energy Ltd AGM Presentation Update A European focused appraisal and development company By Ian Tchacos - Executive Chairman 31 May 2019 www.adxenergy.com 1

2. Slide 2: Disclaimer

   DISCLAIMER This document has been prepared by ADX Energy Ltd for the purpose of providing an activity update to interested analysts/investors and shareholders. Any statements, opinions, projections, forecasts or other material contained in this document do not constitute any commitments, representat

3. Slide 3: Company Overview

   COMPANY OVERVIEW ASSET SUMMARY CORPORATE SUMMARY Strategic Mediterranean Nilde Oil Redevelopment Project ASX Code ADX Position For personal use only  Offshore Sicily  100% equity Shares on Issue 1,213 million Nilde Oil  33 MMBO 2C Resources No of Shareholders 2,545 Project Recently secured Farm o

4. Slide 4: 2018 Review: Key Achievements

   2018 REVIEW Key Achievements Corporate For personal use only  Set up of Danube Petroleum Limited as a funding and operating vehicle for Romanian activities Asset Acquisitions  Purchased 100% of Iecea Mare Production License at low cost  Secured 50% interest in Parta Exploration license Interest a

5. Slide 5: Key Asset Status - Nilde Oil Redevelopment Project

   KEY ASSET STATUS - Nilde Oil Redevelopment Project (100% Equity) For personal use only Project Summary  Material remaining oil resource (Independently Assessed)  Field prematurely abandoned due to low oil price and primitive FPSO technology  Proven, highly productive reservoirs , high quality cru

6. Slide 6: Nilde Oil Redevelopment Project (continued)

   - Nilde Oil Redevelopment Project (continued) Commercial Situation For personal use only • Achieved fully funded work program with SDP farmout in Far-right League victory October 2018 (Euro 20.8 million) in EU vote strains Italy • Informal recognition by licensing authority that farmout has satisfie

7. Slide 7: Key Asset Status - Parta Appraisal Project

   KEY ASSET STATUS - Parta Appraisal Project (63% interest via Danube SPV) For personal use only Project Summary Calacea oil and gas plant  Proven appraisal potential assessed by Independent Expert - redrill of previously tested Appraisal wells with multiple pay zones now defined on 3D Program Area s

8. Slide 8: Parta Appraisal Project (Continued)

   - Parta Appraisal Project (Continued) Commercial Parta Assets and Commercial Structure For personal use only • The formation of Danube has provided an excellent platform for growth and funding ADX Energy Ltd (Australia) • US$ 3 million Danube funding obtained for first well (from Danube AIM listed R

9. Slide 9: Parta Appraisal Project: Location of Key Activities

   - Parta Appraisal Project (Continued) “Location of key Appraisal & Exploration Activities” For personal use only Parta Exp Well 9

10. Slide 10: IM-1 Well to Appraise Discovery & Test Basement Play

    Parta Appraisal Project (Continued) “IM-1 Well to Appraise Discovery & Test Basement Play” TEST SHALLOW PROVEN GAS: EXPLORE DEEPER OIL / GAS 16 bscf Prospective Best Case Resources For personal use only 6.1 bscf 2C Contingent Resources 2007 m MD, gas reservoir Pa IV 2500 m MD, Badenian/ fractured ba

11. Slide 11: IM-1 Well Shallow Gas Target

    Parta Appraisal Project (Continued) “IM- 2 Well Shallow Gas Target (3D defined Stratigraphic Trap) “ For personal use only 15.6 BSCF Best Case Prospective Resources + Deeper 15.5 bscf 2C resources at ~ 2000 m SS Note: ERCE Experts Report, ADX report Date 11/7/2018 All Government & Landowner Approval

12. Slide 12: Key Asset Status - Dougga Gas Condensate Project

    KEY ASSET STATUS – Dougga Gas Condensate Project (ADX 100%) Dougga Gas For personal use only  Large Gas Condensate Resource & Exploration Potential Condensate Project defined on 3D seismic (Independently Assessed) 122 MMBOE (2C) 405 BCF & 63 MMBBLS  Discovered by Shell when no gas demand or infras

13. Slide 13: Dougga Gas Condensate Project (Continued)

    - Dougga Gas Condensate Project (Continued) Commercial Dougga Base Case Production (Ideal Product Yields) • ADX requires investment support to drill and For personal use only test Dougga Sud Appraisal Well • There is interest in the Dougga development after the resource has been de-risked by the dri

14. Slide 14: 2019 Objectives

    2019 OBJECTIVES A Pragmatic Strategy is Required for Challenging Markets For personal use only 1. Keep administrative costs low and maintain a capable team 2. Build near term activity where funding can be readily sourced >> Romania then Italy subject to politics 3. Seek to increase presence in compl

15. Slide 15: Investment Overview

    INVESTMENT OVERVIEW  Three technically mature Appraisal & Development Assets – All are transformational for ADX  Operated assets with high equity interests & material Independently Assessed Contingent For personal use only Resources  Well developed and credible Development Concepts have been matu

16. Slide 16: Thankyou for you Support

    For personal use only Thankyou for you Support Ian Tchacos – Executive Chairman www.adx-energy.com 16

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