Aminex Plc · LSE:AEX
Aminex — Shareholder Meeting (September 2026)
28 slides from Aminex's shareholder meeting presentation, Sep 30, 2026
Slide 1: Annual General Meeting
Annual General Meeting Wednesday 30 September 2026 London Stock Exchange: AEX www.aminex-plc.com ‹#›
Slide 2: Disclaimer
Disclaimer Certain information contained herein constitutes forward - looking statements, which can be identified by the use of forward - looking terminology such as “anticipates”, “believes”, “estimates”, “expects”, “intends”, “may”, “plans”, “projects”, “should” or “will”, or, in each case, their
Slide 3: Welcome and thank you for joining us
Welcome and thank you for joining us Agenda • Ntorya Today • The Opportunity • Disciplined Corporate Model • Questions & Answers
Slide 4: Ntorya Today
Ntorya Today
Slide 5: Where we are today
Where we are today • The development of the Ntorya Gas Project – the key growth driver for Aminex and strategic project for Tanzania – is well under way • Revised work programme agreed by Ntorya stakeholders • Ntorya - Madimba pipeline approaching completion • NT - 1 prelim works planned for October
Slide 6: Keeping Ntorya on track
Keeping Ntorya on track During 2026, proposed changes to the approved 2026 Work Programme and Budget created uncertainty over the timing and sequencing of key activities at Ntorya These changes had not been approved by Aminex, the Tanzanian Petroleum Development Corporation (TPDC) or the Petroleum U
Slide 7: Revised Work Programme
Revised Work Programme • Following the Notice of Dispute, Tanzania’s Ministry of Energy convened a meeting involving Aminex, APT, TPDC and PURA • Aminex actively engaged with APT, TPDC, PURA and the Ministry of Energy to protect the agreed development timetable and seek a workable resolution • Amine
Slide 8: Revised Work Programme
Revised Work Programme Under the Revised Work Programme , all parties agreed to ensure that the Ntorya Project would be implemented according to an amended schedule. ARA is responsible for the execution of the planned activities: • October 2026: NT - 1 preliminary works – wellhead maintenance and sl
Slide 9: On the Ground Today
On the Ground Today • Ntorya - Madimba pipeline • pipelaying and backfilling 95% complete • connection and metering works ongoing • Land rights for NT - 3 wellsite and access roads secured and civil works have commenced • Contract for gas processing unit (GPU) is being finalised , with mobilisation
Slide 10: Ntorya-3, Ntorya-East, Ntorya-West and Chikumbi-1
Ntorya-3, Ntorya-East, Ntorya-West and Chikumbi-1 • Revised Work Programme incorporates a new well, NT -3 • NT - 3 is a well previously planned in a later phase of the development that has been brought forward • NT - 3 is targeting a location that is considered by the Operator to have a lower geolog
Slide 11: Recent Uncertainty
Recent Uncertainty • We recognise that recent developments have created uncertainty and frustration for shareholders • During this period, Aminex had to establish facts, engage with the operator and Tanzanian stakeholders, and assess its contractual options while meeting its market disclosure obliga
Slide 12: The opportunity
The opportunity Where We Are Today - Pushing For Performance - The Near Future - The Field Development Plan - A Disciplined Corporate Model - Q&As
Slide 13: Ntorya: a substantial, long-life gas project
Ntorya: a substantial, long-life gas project • Potentially Tanzania’s largest onshore gas development • 25 - year Development Licence and Gas Sales Agreement in place • Estimated multi - Tcf gas in place • Initial production ramping to 60 MMcf /d, with phased growth to 140 MMcf /d, with potential to
Slide 14: Natural Gas in Tanzania's Energy Transition, Economic Development
Natural Gas in Tanzania’s Energy Transition, Economic Development Tanzania’s total energy consumption Energy Mix 2023 • Tanzania’s energy use dominated by harmful consumption of firewood, farm waste and dung, according to latest International Energy Agency data Oil products • National population to
Slide 15: Ntorya – Ntorya-Central (NT-C) Location; to be spudded as NT-3
Ntorya – Ntorya-Central (NT-C) Location; to be spudded as NT-3 NT-C / NT-3 Ntorya Today - The Opportunity - Disciplined Corporate Model - Q&As
Slide 16: Ntorya – APT 2026 – Reservoir Thickness Map
Ntorya – APT 2026 – Reservoir Thickness Map Ntorya Today - The Opportunity - Disciplined Corporate Model - Q&As
Slide 17: 2,570 bcf 543 bcf 3,970 bcf
amMinex CATION iV Base case Polygon (35.8Km2): - Selected based on GDT. - Selected based on thickness map by following isoline of 110m. Low case Polygon (10.7Km2): Selected based on GDT. High case Polygon (67.9Km2): : - -Selected based on 750m - Selected based on GOT. radius from WT. - Selected base
Slide 18: Ntorya – APT 2026 – Appraisal/Development Polygons & In-Place Volumes
Ntorya – APT 2026 – Appraisal/Development Polygons & In-Place Volumes NT-1 & NT-2 Polygon GIIP - 543 bcf Ntorya Today - The Opportunity - Disciplined Corporate Model - Q&As
Slide 19: Ntorya – APT 2026 – Appraisal/Development Polygons & In-Place Volumes
Ntorya – APT 2026 – Appraisal/Development Polygons & In-Place Volumes Deterministic GIIP Volumes per Segment identifies Central Segment as containing greatest reserve potential • NT - C location preferred over CH -1 • NT - W & NT - E to be drilled contingent upon results of NT -C APT 2026 estimate B
Slide 20: Ntorya – APT GIIP Volumetric Reconciliation – 2026 vs 2024
Ntorya – APT GIIP Volumetric Reconcilliation – 2026 vs 2024 Volumes represent different approaches to estimation APT-2024/FDP-2025 3D interpretation – whole field geological model derived from seismic by inversion • P90 from Pessimistic model – 1,990 bcf • P10 from Optimistic model – 4,700 bcf • P50
Slide 21: Ntorya – Production Profile – Little change - Phased Development Maintained
Ntorya – Production Profile – Little change - Phased Development Maintained TPDC committed to buying up to 60 MMscf /d under the Gas Sales Agreement of 2024 Additional offtakers targeted for ramping up production: • Power and fertiliser industries • Regional export pipelines • Potential LNG integrat
Slide 22: Ntorya Today - The Opportunity - Disciplined Corporate Model - Q&As
Ntorya Today - The Opportunity - Disciplined Corporate Model - Q&As
Slide 23: Ntorya Today - The Opportunity - Disciplined Corporate Model - Q&As
Ntorya Today - The Opportunity - Disciplined Corporate Model - Q&As
Slide 24: Disciplined corporate model
Disciplined corporate model
Slide 25: Right-sizing Aminex 2020-2025
Right-sizing Aminex 2020-2025 Since 2020, Aminex’s management has worked hard to significantly de - risk the company: • Workforce and executive positions cut, board of directors reduced • Pay cuts implemented, replaced by compensatory share options for some • Office liquidated, fully virtual set - u
Slide 26: The Past Year
The Past Year • Construction began on the long - planned Ntorya gas development, marking the transition into the development phase of the project • Aminex continued its diligence and active participation in the project as a non - operator • When uncertainty arose over project priorities and timing,
Slide 27: Aminex: The Future
Aminex: The Future What does the successful development of Ntorya enable Aminex to become? • A financially sustainable company, underpinned by reliable production and cash generation • A company with greater strategic and financial optionality • A company with the freedom to determine its own direct
Slide 28: Thank you Q&As
Thank you Q&As Ntorya Today - The Opportunity - Disciplined Corporate Model - Q&As