Finder Energy Holdings Limited · ASX:FDR
Finder Energy — Merger or Acquisition (December 2025)
37 slides from Finder Energy's merger presentation, Dec 3, 2025
Slide 1: Acquisition of the Petrojarl I and Equity Raising
ACQUISITION OF THE PETROJARL I AND EQUITY RAISING December 2025 Not for release to US wire services or distribution in the United States 1
Slide 2: Disclaimers and Cautionary Statement
Disclaimers and Cautionary Statement IMPORTANT: You must read the following before continuing. based on the Company's own information and estimates and recommendation to investors or potential investors in relation to including future share price performance. Past performance of has not been indepen
Slide 3: Disclaimers and Cautionary Statement continued
Disclaimers and Cautionary Statement continued been released to the market. Investors should also be aware definitions and guidelines set forth in the SPE-PRMS. Refer to contingencies such as technological or business hurdles or directors, employees, agents or advisers, nor any Limited that certain
Slide 4: Overview of FPSO acquisition and Equity Raising
Overview of FPSO acquisition and Equity Raising • Finder has entered into agreements to acquire the Petrojarl I FPSO from Amplus Energy for US$15m in cash and shares • The acquisition of the PJI de-risks and accelerates the KTJ Project by securing a critical infrastructure asset, enabling the FPSO t
Slide 5: Acquisition of the Petrojarl I
1 Acquisition of the Petrojarl I 5
Slide 6: Acquisition of the Petrojarl I FPSO
Acquisition of the Petrojarl I FPSO The most critical element of the KTJ Project now secured Acquisition of the PJI from Amplus Energy for US$15 million in cash and shares Identified through a global target asset survey of FPSO’s suitable for redeployment to the KTJ Project Enables FPSO to be integr
Slide 7: FPSO Click to view our video on the Petrojarl I
FPSO Click to view our video on the Petrojarl I www.finderenergy.com/fpso/ 7
Slide 8: PJI Acquisition Terms
PJI Acquisition Terms1 • Finder will acquire 100% ownership interest in the PJI from Amplus Energy in consideration for the following: • The issue of US$9.0m in FDR shares to Amplus at a deemed issue price of 37 cents per share (subject to shareholder approval) • US$3.5m in cash on completion • US$2
Slide 9: PJI Highlights
PJI Highlights PJI is an excellent fit for the KTJ Project which achieves our acceleration objectives • Fast and cost-effective redeployment solution for KTJ Project • Proven track record of redeployment across multiple stringent regulatory environments (UK, Norway, Brazil) • 11 successful deploymen
Slide 10: PJI Specifications
PJI Specifications Flag | Bahamas Class | DNV Topside & Processing Facilities | 25-30,000 bopd Oil Separation, Produced Water Treatment, Artificial Lift Systems (ESP & Gas Lift), Bridge/Control Room/Offices Chemical Injection, Gas Compression System, Fuel Gas System, Flare, 3 Deck Galley/Mess/Gym/Ac
Slide 11: PJI acquisition delivers significant benefits
PJI acquisition delivers significant benefits Vessel Significant reduction in opex with removal of third party charter payments over field life (see example below) Ownership Acceleration – PJI is a fast/low-cost redeployment opportunity Facilitates debt funding Economics Enhanced economics and exten
Slide 12: KTJ Project update
2 KTJ Project update 12
Slide 13: Rapid Progress
Rapid Progress 2024/25 | Subsurface FPSO • Independent resource upgrade verified by RISC Advisory • Significant upside mapped at Krill & Squilla oil discoveries 2025 | Development Acceleration SPS/SURF • Strategic Alliance with SLB to accelerate project delivery and First Oil • Integrated SLB expert
Slide 14: PSC 19-11 – KTJ Project & Upside
PSC 19-11 – KTJ Project & Upside Gross (100%) Contingent and Prospective Resources Karungu 180 KTJ Project Oil – MMbbl 10 25 MMbbl 160 26 Kuda Tasi 140 Jahal PSC 19-11 30 Lanjara/SW 120 Laminaria/ 66% Corallina 100 49 MMbbl 34% Kitan 26 MMbbl 80 Buffalo N 21 MMbbl 60 Krill 9 10 km 14 MMbbl Squilla 1
Slide 15: KTJ Resources certified by RISC Advisory
KTJ Resources certified by RISC Advisory KTJ Gross Contingent Resource1 (MMbbl) 1C 2C 3C 19.0 25.5 34.6 Top Reservoir 3D Kuda Tasi Depth Map Fully appraised with 5 wells – logs, core and well tests data Covered by high-end Ikan 3D reprocessed seismic data Jahal Excellent quality Laminaria Formation
Slide 16: Fast & Cost-effective Development Concept
Fast & Cost-effective Development Concept Jahal Strategic Alliance with SLB to JH2 accelerate FEED, Project Production Tree Delivery and First Oil1 FPSO & ESP Skid PJI processing capabilities allow use of seabed ESPs to enhance production & maximise Moorings KT 4 recovery Production Tree ESP Skid De
Slide 17: Powerful reservoir performance
Powerful reservoir performance JH 1 & ST1 KT 1 KT 2 KT 3 • High quality Laminaria Formation reservoir JH 2 KT 4 • Strong aquifer drive and pressure support KT 5 • Light sweet oil, 55-60° API Jahal Kuda Tasi 25,000 2C Production Model Forecast1 25 20,000 Owned FPSO extends 20 Cumulative Production (M
Slide 18: Upside – KTJ is just the beginning
Upside – KTJ is just the beginning Core Value + Undeveloped Discoveries + Low Risk Exploration KTJ Development Project Krill & Squilla Multiple Prospects 25 MMbbl, Gross 2C 23 MMbbl, Gross 2C 116 MMbbl, Gross Pmean KTJ Development Lanjara Prospect Kitan Krill Kurisi Prospect Squilla 25 MMbbl 26 MMbb
Slide 19: Krill & Squilla Oil Discoveries – Significant Upside Identified
Krill & Squilla Oil Discoveries – Significant Upside Identified HISTORICAL MAPPING 2025 MAPPING GRV New 2025 Ikan 3D Reprocessing FIELD Step-change in image quality resolving GRV (m3 x 106) GRV (m3 x 106) Variance shallow fault complexity and improving Krill 136 217 +60% reservoir definition Squilla
Slide 20: Catalysts
Catalysts The KTJ Project is gathering momentum off the back of a series of major de-risking events Strategic Alliance with SLB RISC Independent Resource upgrade TIMOR GAP Farmin PJI acquisition We are in a phase of intense activity as we execute our acceleration strategy with a pipeline of upcoming
Slide 21: Equity Raising Overview
3 Equity Raising Overview 21
Slide 22: Equity Offer Summary
Equity Offer Summary • Finder has received binding commitments for a strongly supported two-tranche, non-underwritten institutional placement to raise A$25m ("Placement"), via the issue of approximately: - ~53.5m fully paid ordinary shares (“New Shares”) to raise ~A$19.8m pursuant to the Company’s e
Slide 23: Use of Proceeds
Use of Proceeds Sources A$m Finder is raising A$25 million under the Placement to fund the KTJ Project to FID: Proceeds from Tranche One Placement (before costs) 19.8 • FPSO Acquisition, Holding & Maintenance Costs Proceeds from Tranche Two Placement (before costs) 5.2 - Completion payment to purcha
Slide 24: Timetable and pro-forma position
Timetable and pro-forma position Pro-forma capital structure Event Date1 Shares (m) Shares on issue 385,352,254 Trading halt lifted and announcement of completion of Placement Wednesday, 3 December 2025 New Shares issued to Amplus 37,233,008 Settlement of New Shares issued under Tranche 1 of the Pla
Slide 25: Corporate Snapshot (ASX:FDR)
Corporate Snapshot (ASX:FDR) Year-to-Date Price Chart Price (c) Company Directors Vol (m) Share Price 0.60 47.0c 25 60 20 0.50 50 15 40 0.40 Bronwyn Barnes 28 November 2025 30 0.30 Chairman 10 20 0.20 Market Capitalisation 5 10 0.10 $181m 0 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Shareholder Jul-2
Slide 26: Appendices
APPENDICES 26
Slide 27: High Growth Portfolio
Located in prolific hydrocarbon basins All permits operated by Finder Minimal cost exposure in forward work High Growth programs Portfolio UK - North Sea High impact infrastructure-led-exploration (ILX)1 Strategic partnerships formed with nearby facility owners opens development pathways Indications
Slide 28: Prolific UK Central North Sea ILX Portfolio
Prolific UK Central North Sea ILX Portfolio Finder P2610 (50%) P2530 – Serica farmin1 licence Equinor and Aker BP drilling updip Langemann Production and Lofn now • Recent farm-in with Serica Energy platform FPSO Boaz Eirin • NSTA extend Licence 9 months allowing newly P2655 (100%) Gina Krog formed
Slide 29: Australia - key positions in prolific basins
Australia - key positions in prolific basins Northern Carnarvon Basin Vulcan Sub-basin Australian investment in oil exploration has stalled in Phoenix Proven Play recent years due to lack of Phoenix South surrounded by full- Oliver policy direction from Roc to-spill discoveries Audacious government
Slide 30: Glossary
Glossary Term/Acronym Definition Term/Acronym Definition 1C Denotes low estimate of Contingent Resources MMbbl millions of barrels - a unit of measure for crude oil volumes 2C Denotes best estimate of Contingent Resources MMboe Million barrels of oil equivalent 3C Denotes high estimate of Contingent
Slide 31: Contingent and Prospective Resources
Contingent and Prospective Resources Contingent Resources7 Oil/Cond Gross Contingent Resources Net Contingent Resources ASX announcement reference date and Country Licence FDR Equity Name Status (MMbbl)/ notes3 Gas (BCF) 1C 2C 3C 1C 2C 3C KTJ Project ASX – 8 Oct 2025 – RISC independent Kuda Tasi Fie
Slide 32: Notes on Petroleum Resource Calculations
Notes on Petroleum Resource Calculations Table Notes 1. Finder calculates reserves and resources according to the Society of Petroleum Engineers Petroleum Resource Management System (SPE-PRMS) definition of petroleum resources. Finder reports reserves and resources in line with ASX listing rules. 2.
Slide 33: Key Risks
Key Risks INTRODUCTION Exploration • unanticipated natural disasters, accidents, political opposition, litigation, commodity prices or foreign exchange, which may materially and adversely This section discusses some of the risks associated with an investment in Oil and gas exploration is a speculati
Slide 34: Key Risks continued
Key Risks continued with a counterparty as a consequence of these or other factors may also sell assets or defer capital expenditure. Finder does not have producing assets Laws, regulations and government policies Finder has and will engage consultants and contractors in Timor-Leste in adversely aff
Slide 35: Key Risks continued
Key Risks continued Completion of the Placement is not conditional on the completion of the FPSO Condition not identified during Finder’s due diligence or which are greater than expected, The market price of Finder’s shares can fall as well as rise and may be subject Acquisition. If the Acquisition
Slide 36: International Offer Restrictions
International Offer Restrictions This document does not constitute an offer of new ordinary shares (“New Shares”) of are Canadian tax implications for investors in the Provinces. • is an investment business within the meaning of clause 37 of Schedule 1 of the (“SCA”) or any other authority in the UA
Slide 37: www.finderenergy.com
+61 8 9327 0100 info@finderenergy.com www.finderenergy.com 37
Finder Energy Holdings — Merger or Acquisition (December 2025) on 6ix