Afentra Plc · LSE:AET
Afentra — H1 2025 Earnings Presentation
12 slides from Afentra's earnings presentation, Sep 9, 2025
Slide 1: Value Driven Growth: HY 2025 Results Presentation
African Energy Transition Value Driven Growth HY 2025 Results Presentation September 2025 Afentra plc 1
Slide 2: Disclaimer
Disclaimer The information set out in this presentation and the accompanying verbal presentation including any question and answer session and any documents or other materials distributed with the presentation (the “Presentation”) has been produced by Afentra plc (the “Company”) as at the date of th
Slide 3: Executive Summary
Executive Summary Strategic Progress in Angola – further expansion of our diversified portfolio Balance sheet strength maintained in volatile markets, fully self-funded growth Stable production performance, offshore redevelopment underpinning reserve replacement Onshore workstreams initiated, unlock
Slide 4: H1 2025 Highlights
H1 2025 Highlights Asset Performance 2024 was a year of disciplined execution, Financial Highlights Balance Sheet with every key strategic milestone achieved asWorking plannedInterest — no overpromising, Production no Revenue Cash Balance1 surprises. 6,348 bopd $52.0 million $21.6 million (↓ 29% vs
Slide 5: H1 2025 Net Cash Reconciliation ($m)
H1 2025 Net Cash Reconciliation ($m) Net Cash Net Cash4 $12.6m $19.9m 57.0 54.8 35.4 -8.9 -7.3 Net Debt $15.5m -8.8 21.6 -6.5 -1.9 21.6 Total Cash @ Asset Cash Acquisition Debt Interest G&A Others³ Total Cash @ Total Cash Post 01-Jan-25 Generation Payments¹ + Repayment² 30-Jun-25 Lifting 01-Jul-25 S
Slide 6: Crude Oil Sales & Hedging Position
Crude Oil Sales & Hedging Position 2025: Estimated Crude Oil Sales ~ 2mmbbls 2025 Crude Oil Sales % Hedged 71% 75% 70% 62% ▪ H1 crude oils sales of 0.71 mmbbls with average realised price of $72/bbl Put Options 71% puts @ 75% puts @ 70% puts @ 62% puts @ $60–65/bbl $60–65/bbl $60–65/bbl $60/bbl ▪ Fu
Slide 7: Debt Profile & Working Capital Facility
Debt Profile & Working Capital Facility RBL Debt Maturity Profile Working Capital Facility Principal drawn ($m) ▪ Up to $30 million revolving facility. Facility Rate Maturity Dec-24 Aug-25 ▪ 4.75% margin over 1-month SOFR. RBL 42.0 31.5 3m SOFR + 8% May 28 ▪ Payable using proceeds from liftings. ▪ P
Slide 8: H1 2025 Operational Highlights
H1 2025 Operational Highlights Offshore Delivery - Building Momentum and Future Capacity ▪ Block 3/24 milestone – HoT signed with ANPG for 40% WI as Operator, complementing core offshore portfolio ▪ ETU acquisition positions Afentra to unlock near-term production, add reserves, and broaden exposure
Slide 9: Strategic Focus for H2 2025
Strategic Focus for H2 2025 Driving Offshore Performance & Growth Advancing Onshore Readiness ▪ Advance integration of eFTG data and legacy subsurface ▪ Sustain stable production performance from Blocks information to support prospect definition and 2D seismic 3/05 and 3/05A, with interventions and
Slide 10: Activity Roadmap: Milestones & Catalysts
Activity Roadmap: Milestones & Catalysts Op. / 2025 2026 2027 Onshore / Offshore Activity Non-Op. Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Offshore Cobo Sector Revamping Palanca Sector Pacassa Sector LWI’s 40+ LWI’s LWI’s continue LWI’s continue Non-Op. Block 3/05 (30%) HWO’s HWO planning HWO execution W
Slide 11: Experience & Strategic Clarity Underpins Future Growth
Experience & Strategic Clarity Underpins Future Growth Delivery since 2021 start… Unlocking the next phase of Growth Focus and experience delivers results ▪ Block 3/05, 3/05A & 3/24 Area Redevelopment Plan ▪ Target further 100% increase in production ▪ Afentra transformed from cash shell to full- cy
Slide 12: Uniquely positioned to capitalise on the African Energy Transition
Uniquely positioned to capitalise on the African Energy Transition 1. 2. 3. 4. 5. Significant hydrocarbon Gap in market for Proven team Committed to African Energy Transition resource base in Africa credible operators to with significant responsible stewardship provides compelling with material M&A