Criterium Energy Ltd · TSXV:CEQ
Criterium Energy — Shareholder Meeting (June 2026)
24 slides from Criterium Energy's shareholder meeting presentation, Jun 16, 2026
Slide 1: 2026 Annual General Meeting
Criterium’s Tungkal PSC – South Sumatra, Indonesia 2026 Annual General Meeting Criterium Energy Ltd (TSX:CEQ.V) June 16, 2026
Slide 2: Disclaimers and Key Terms
Disclaimers and Key Terms The information in this presentation is provided as of June 16, 2026 for informational purposes only, is not complete and does not contain all material information about Criterium Energy Ltd. or the management team ("Criterium” or “Company” or “Management"), including impor
Slide 3: Invest in the Energy of SE Asia
Invest in the Energy of SE Asia Introducing Criterium Energy (TSXV:CEQ) § SE-Asia focused upstream energy company with Criterium’s Portfolio three Production Sharing Contracts (“PSCs”) in Indonesia § Material onshore gas and oil production in the Tungkal PSC (100% operated) § Large-scale Lengo gas d
Slide 4: A Diverse and Growth-Oriented Portfolio
A Diverse and Growth-Oriented Portfolio § Existing production of 845 bbl/d1 from MGH & PLT fields in the Tungkal PSC § Material and near-term production growth from SE-MGH (5-8 mmcf/d2) in Q3 2026 § More gas to follow with N-MGH (2-3 mmcf/d3), Macan Gedang (4-6 mmcf/d4), Cerah, and Lengo under evalu
Slide 5: Executing Our Infrastructure Led Strategy
Executing Our Infrastructure Led Strategy Low-Capital Resource-to-Cashflow Transformation SE-MGH: Resource to Cashflow for US$0.4/2P boe1 Monetized Value § MGH & PLT § Key commercial agreements (GSA) Cashflow § Oil Production Action § Utilize existing infrastructure § US$1.9 MM targeted capital depl
Slide 6: In the Right Region, Producing Much Needed Energy
In the Right Region, Producing Much Needed Energy SE-Asia Overview Indonesia Real GDP1 60 Projection 55 Indonesia USA 50 Euro Area 45 Japan China 40 35 Trn USD 30 25 20 15 10 § Radius encapsulates 4.5 billion people 5 § SE Asia’s energy demand forecasted to grow by 60% by 2040 § Indonesia is the 4th
Slide 7: Assets Located Near Demand and Infrastructure
Low Medium High Assets Located Near Demand and Infrastructure Contracted out to LNG importers (China, Japan, South Korea) Medan Natuna Bontang West Salawati PSC Badak/Tunu/Peciko Nusantara Donggi-Senoro Kasim Tungkal PSC Tangguh Palembang Jakarta Makassar Bulu PSC CEQ Asset Bandung Major Domestic Ga
Slide 8: Government Supports Domestic Energy Development
Government Supports Domestic Energy Development Policy increasingly favors reliable, centrally located domestic oil and gas production Indonesia Oil Production Indonesia Gas Production (mbbl/d) (bcf/d) +73% +71% 1,000 12 579 7 2025 2030 Target1 2025 2030 Target1 8
Slide 9: Why Criterium Wins Here
Why Criterium Wins Here Brent vs ICP vs CEQ realized crude oil price § Support for oil and gas development 140 Brent ICP CEQ § Premium oil pricing, monthly lifting that 120 historically receives premium to Brent and ICP benchmarks 100 § Stable gas pricing, anticipate US$6- 80 USD/bbl $7/MMbtu for Tu
Slide 10: Delivering Against Our Priorities
Delivering Against Our Priorities 2025 – 2026 Progress § Successful tests at SE-MGH (8 mmcf/d)1 and N-MGH (2.5 mmcf/d)2 § Plan of Development approved Tungkal Gas Development § Key terms agreed for GSA, FSA § Vendor financed pipeline construction commenced § SE-MGH (21 bcf3) and N-MGH (5 bcf3) upgra
Slide 11: Reserve & Resource Growth
Reserve & Resource Growth 70% Increase in 2P Reserves1 24% Increase in 2C Resource1 § SE-MGH reserve upgrade and +40% increase (+21 bcf) § MGH Waterflood addition (+8.4 MMbbl) § N-MGH addition (+5 bcf) § Lemat addition (+4.7 MMbbl) § 2P Reserves = 55% Gas § Macan Gedang upgraded to Development Pendi
Slide 12: Tungkal PSC
Tungkal PSC Value creation via gas monetization, secondary recovery, and low-risk step out exploration Key Facts Tungkal PSC To Duri Ownership Criterium Energy (100%)* Oil Fields MGH, PLT Gas Fields SE MGH, N-MGH, Macan Gedang, Cerah PLT Field To Singapore License & Expiry Gross Split PSC, expires i
Slide 13: SE-MGH & N-MGH
SE-MGH & N-MGH 2x production step-change from low-cost gas developments MGH Complex Top GH Sand South-East Mengoepeh1 (“SE-MGH”) N § Upgraded to reserves, 40% increase in base case recoverable N-MGH1 Highlights § First gas anticipated Q2 2026 at 5-8 MMcf/d § All capex net to CEQ incurred to date 2P
Slide 14: SE-MGH Sets Stage For Broader Gas Development
SE-MGH Sets Stage For Broader Gas Development Tungkal Gas Development Outline Legend Phase 1(A+B) (2026) N-MGH Existing Infrastructure Test: 2.5 MMcf/d 1 2C Resource: TBD Phase 1 Activity § SE-MGH & N-MGH gas fields Phase 2 Activity Pipeline (Existing) § Utilize existing wells to produce gas Pipelin
Slide 15: Achieving Premium Pricing and Funding Growth
Achieving Premium Pricing and Funding Growth GBT-02: Upgraded service rig to conduct well interventions at the Tungkal PSC Oil sales achieving premium to benchmark § US$121/bbl realized in April 2026 lifting § Premium to Brent and Indonesia Crude Price (“ICP”) Near-term oil optimization amidst highe
Slide 16: Waterflood & Lemat Boost Tungkal Resource
Waterflood & Lemat Boost Tungkal Resource Sizeable waterflood opportunity extends field life1 Applying proven technology to unlock Lemat reservoir 84 MMstb OOIP with only 6.2% recovered to date Stacked pay potential: MGH-Lemat underlies the Talang Aker formation throughout the MGH field Waterflood i
Slide 17: Bulu PSC and the Lengo Gas Field
Bulu PSC and the Lengo Gas Field Material gas resource awaiting development into the undersupplied Java market Key Facts1 Ownership Criterium Energy (42.5%, non-operated) License & Expiry Cost Recovery PSC, expires in 2033 Resource (1C/2C/3C) 115 / 134 / 156 bcf Net Working Interest Location Offshor
Slide 18: West Salawati PSC
West Salawati PSC High-margin exploration upside utilizing established oil transportation network Key Facts1 West Salawati PSC Ownership Criterium Energy (100%)* License & Expiry Cost Recovery PSC, expires in 2033 Reserves (1P/2P/3P) - / 0.1 / 0.3 MMbbl Prospective (1U/2U/3U) 0.5 / 2.3 / 12.3 MMboe
Slide 19: Looking ahead - CEQ in 2026-2027
Looking ahead - CEQ in 2026-2027 Aligned with debt & tax activities SE-MGH Online § Producing at 5-8 MMcf/d § Sets baseline cashflow for CEQ, allowing further development in Tungkal Gas Production N-MGH Development § Requiring 14 km pipeline from PAD-03 to SEM-01 § Allows MGH stranded gas fields to
Slide 20: Criterium Energy Corporate snapshot
Criterium Energy (TSX:CEQ.V) Corporate snapshot Share Price Performance (1-year lookback) Capital Markets 0.14 Close 1,200 Volume (MM) Symbol CEQ.V 0.12 900 Share Price (C$/share) 0.10 Share Price (May VWAP) C$0.11 Volume (000 s) 0.08 Market Capitalization C$18.2 MM1 600 0.06 ’ 52 Week High/Low C$0.
Slide 21: The Criterium Energy Investment Opportunity
The Criterium Energy Investment Opportunity Value creation rooted in operational excellence, technology and a collaborative approach Attractive Organic, Targeted Commercialize Deleveraging Jurisdiction self-funded reserves gas to support growth developments growth production growth Strong growth for
Slide 22: Notes
Notes Slide 3 – Invest in the Energy of SE Asia 1 Production is based on field estimates year to date in 2025 which was recorded as 890 bbl/d. Does not reflect total liftings or sales volumes 2 Forecasted production is based on gas test results 3 Reserve and resource information is contained in the
Slide 23: Notes
Notes Slide 12 – Tungkal PSC 1 Reserve and resource information is contained in the report prepared by Sproule ERCE as of 31 December 2025 with an effective date of 15 April 2026 2 Based off 2C SE-MGH in the report prepared by Sproule ERCE as of 31 December 2025 with an effective date of 15 April 20
Slide 24: For more information
For more information Phone: +1 (403) 668 1630 Website: www.criteriumenergy.com Email: info@criteriumenergy.com X (formerly Twitter): https://x.com/CriteriumEnergy LinkedIn: https://www.linkedin.com/company/criterium-energy/ YouTube: https://www.youtube.com/@CriteriumEnergyCEQV 24