Condor Energies Inc · TSX:CDR
Condor Energies — Investor Presentation (December 2025)
25 slides from Condor Energies's investor presentation, December 2025
Slide 1: Corporate Presentation December 2025
Corporate Presentation December 2025 www.condorenergies.ca
Slide 2: Energizing Condor’s Future
Energizing Condor’s Future Developing sustainable energy sources and critical minerals using proven Western technologies Canadian-based, TSX-listed with Executive Team experience of +100 years in Central Asia Established in 2006 by the founders of the multi-billion-dollar Osisko mining group P
Slide 3: Our Value Creation Strategy
Our Value Creation Strategy Build on current natural gas production to develop cleaner fuels + critical minerals that support Central Asia’s sustainable energy transition Advance critical mineral opportunities at Condor’s 2 licenses • Ongoing aeromagnetic survey for copper and lithium brines • Monit
Slide 4: Advantages of Central Asia
Advantages of Central Asia Rapidly growing domestic energy and minerals demand with significant remaining resources Tashkent, Uz – Major Advancements in an Expanding Economy Stable and Safe Operating Environment Multiple super-major energy & mining companies continue to expand operations with ongo
Slide 5: Production Enhancement in Uzbekistan
Production Enhancement in Uzbekistan Condor is the first and only Western natural gas producer in Uzbekistan Lightly developed with significant upside Number of Active Field 282 8 71 gas fields Wells Area km2 3-D seismic has identified numerous undrilled structures previously not recognized from
Slide 6: Under-exploited Uz Jurassic Stack
Under-exploited Uz Jurassic Stack Multiple Play Types with Material Thicknesses, Derisked with Modern Technologies Carbonate and Clastic Reservoirs • Multiple play types provide a diverse prospect inventory • Prior exploration and development resulted in low recovery factors • Significant upside p
Slide 7: Modern Techniques to Maximize Value
Modern Techniques to Maximize Value Application of industry best practices is mitigating risk and growing production 3-D Seismic Before Reprocessing Recently reprocessed 1462 km2 of 3-D seismic to mitigate subsurface risks • Provides superior detail, creating smoother and ‘more geologically repres
Slide 8: Robust Prospect and Lead Inventory
Robust Prospect and Lead Inventory Application of Western technologies has identified an extensive opportunity base Example of Condor’s Inventory from Southern Asset Area 18 target structures identified from reprocessed 3-D seismic • Contiguous seismic coverage across all Condor’s fields has provi
Slide 9: Near Term Cash Flow Growth
Near Term Cash Flow Growth Multiple initiatives to increase gas production rates and recovery factors Drilling Condor’s 1st Horizontal Well Multi-well drilling campaign underway is expected to increase production rates • Two rig drilling program with 12 new wells planned for 2026 – Data from succe
Slide 10: Modular LNG Overview
Modular LNG Overview Applying proven liquefaction technologies and end-user applications Modular LNG Plant LNG is cryogenic natural gas in a liquid state Stored at low pressure and -162° C 600x less volume than natural gas* LNG is easy and safe to transport and store Non-explosive, non-corrosi
Slide 11: LNG Production Benefits for Central Asia
LNG Production Benefits for Central Asia More environmentally friendly & cost-effective than diesel with better engine performance LNG reduces the carbon footprint of the equipment used to acquire and transport minerals that are critical for energy transition and renewable energy initiatives 30% L
Slide 12: Kazakhstan’s 1st LNG Production in 2026
Kazakhstan’s 1st LNG Production in 2026 Condor’s LNG will help alleviate the impact of Kazakhstan’s diesel shortages Planning for Multiple Modular LNG Facilities is Underway 1st LNG production planned for Q3 2026 • Recently purchased a 182,000 liters/day (48,000 gpd) facility will be transported t
Slide 13: Critical Mineral Licenses in Kazakhstan
Critical Mineral Licenses in Kazakhstan Awarded 2 x 6-year licenses with over 40,300 hectares in the Chu Sarysu Copper Basin Condor critical Minerals License Highlights: Condor’s Kolkuduk and Sayakbay Critical Mineral Licenses Active copper exploration activities underway in neighboring licenses b
Slide 14: Environment, Social & Governance
Environment, Social & Governance Employee Safety Training Environment E Introducing LNG production in Central Asia to reduce diesel fuel usage and reduce emissions Implementing Canadian Health, Safety and Environmental training and policy guidelines DLE lithium brine extraction for EV battery
Slide 15: Near Term Priorities & Catalysts
Near Term Priorities & Catalysts Increase Gas production Execute Financing Advance Kazakhstan Agreements for Modular LNG Critical Minerals in Uzbekistan Production in Kazakhstan Development Multi-well horizontal drilling Finalize project funding discussions Aeromagnetic survey underway program
Slide 16: Condor’s Leadership Team
Condor’s Leadership Team Decades of international experience, including a combined 95 years working in Central Asia EXECUTIVE BOARD OF DIRECTORS Don Streu – President, CEO & Director Dennis Balderston Former Chevron Chairman Honorary Consul: Republic of Kazakhstan for Alberta Former Partner at E&Y S
Slide 17: Management Biographies
Management Biographies Mr. Streu has over 39 years experience in the oil and gas industry including 22 years with Chevron working in Angola, Indonesia, Nigeria, Canada and the United States. Mr. Streu was the asset manager of Angola’s first deepwater production: a 100,000 bopd operation that went fr
Slide 18: Management Biographies
Management Biographies Mr. Pachell has over 24 years of experience in geoscience and cross-disciplinary managerial roles. Previously he was VP of Development and Exploration at Pieridae Energy and held various technical Matt Pachell and managerial roles at Anadarko Petroleum, Talisman Energy, Condor
Slide 19: Appendix – Additional Information
Appendix – Additional Information November 2010 www.condorpetroleum.com
Slide 20: Barrels of Oil Equivalent Advisory
Barrels of Oil Equivalent Advisory References herein to barrels of oil equivalent (“boe”) are derived by converting gas to oil in the ratio of six thousand standard cubic feet (“Mcf”) of gas to one barrel of oil based on an energy conversion method primarily applicable at the burner tip and does not
Slide 21: Abbreviations
Abbreviations GHG Green House Gas d day mg/L milligram per litre % percent MM Million CEO Chief Executive Officer B Billion CFO Chief Financial Officer TCF trillion cubic feet VP Vice President bbls barrels TSX Toronto Stock Exchange bopd barrels of oil per day YoY Year over Year boepd barrels of oi
Slide 22: Forward Looking Statements (1 of 3)
Forward Looking Statements (1 of 3) Certain statements contained in this presentation constitute forward looking statements. These statements may relate to future events or Condor’s future performance. All statements other than statements of historical fact are forward looking statements. The use of
Slide 23: Forward Looking Statements (2 of 3)
Forward Looking Statements (2 of 3) Regarding lithium historical estimates, the Company is not treating the historical estimate as current mineral resources or mineral reserves as additional drilling and testing is necessary, and a qualified person has not done sufficient work to classify the histor
Slide 24: Forward Looking Statements (3 of 3)
Forward Looking Statements (3 of 3) These risk factors are discussed in greater detail in filings made by Condor with Canadian securities regulatory authorities including the Company’s: Annual Information Form, Consolidated Financial Statements and related Management’s Discussion and Analysis for th
Slide 25: Market and Industry Data and Forecasts
Market and Industry Data and Forecasts Any market share, industry data and other statistical information contained in this presentation is based on a variety of sources, including internal data and estimates based on management’s beliefs, independent industry publications, government publications, r
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