Slide 1: Creating the Leading Asia-Pacific Independent Upstream Company
Full-Year 2024 Results Presentation CREATING THE LEADING ASIA-PACIFIC INDEPENDENT UPSTREAM COMPANY May 2025
Slide 2: Disclaimer
Full-Year 2024 Results Presentation DISCLAIMER You must read the following before continuing. The following applies to this document, the presentation of the information in this The content of the Presentation has not been approved by an authorized person within the meaning of the Financial Services
Slide 3: 2024 Highlights
Full-Year 2024 Results Presentation 2024 HIGHLIGHTS ⚫ Over 10 million manhours worked without an LTI(1) across the Group’s Indonesia and Malaysia operations ⚫ Start-up of a major development project Akatara, diversifying Jadestone’s production base ⚫ Record annual production of 18,696 boe/d, +35% ye
Slide 4: A Strong Start to 2025 – A New Management Team Delivering
Full-Year 2024 Results Presentation A STRONG START TO 2025 – A NEW MANAGEMENT TEAM DELIVERING ⚫ Strong operational performance – Record production of 20,830 boe/d for the first four months of 2025, a 22% increase y-o-y – Akatara production and uptime ahead of plan – Submission of field development p
Slide 5: Significant Portfolio Success and Development
Investor Presentation Exit of Thailand assets for US$39.4 SIGNIFICANT million PORTFOLIO SUCCESS Malaysia – Phase 9 AND DEVELOPMENT drilling (2026), Vietnam- submission of opportunities to Nam Du/U Minh FDP, DURING 2025 TO DATE restructure licenses progress towards GSPA and further growth Akatara – u
Slide 6: 2024 Operational and Financial Summary
Full-Year 2024 Results Presentation 2024 OPERATIONAL AND FINANCIAL SUMMARY Selected operational and financial metrics ⚫ Production increased 35% y-o-y (US$ million) unless stated 2023 2024 ∆ – Montara, CWLH and Akatara main drivers ⚫ Revenues up 28% to US$395 million Production (boe/d) 13,813 18,696
Slide 7: Operating Cost Analysis
Full-Year 2024 Results Presentation OPERATING COST ANALYSIS Production cost comparison 2023-2024 Operating cost analysis 2023-2024 US$ million US$ million 325 Inventory/lifting (non-cash) 300 Other Royalties 277.0 275 Operating and transportation costs 21 250 10.9 238.2 232.8 17 15.5 5.7 13 213.5 22
Slide 8: 2024 Cash Bridge
Full-Year 2024 Results Presentation 2024 Cash Bridge Reconciliation of cash from 1 January 2024 to 31 December 2024(1) – US$ million US$ million Operating cash flows 250 Investing cash flows Financing cash flows 53.1 200 153.4 150 (50.5) 100 21.4 43.0 95.2 (83.8) 50 (41.4) 0 Cash at Cash from operat
Slide 9: Liquidity Position Provides Resilience Against Volatile Oil Prices
Full-Year 2024 Results Presentation LIQUIDITY POSITION PROVIDES RESILIENCE AGAINST VOLATILE OIL PRICES Net debt evolution YTD 2025 US$ million 250 ⚫ c.US$142 million liquidity at end of April 2025 200 – US$112 million consolidated Group cash balances (incl. restricted cash) US$30 million working cap
Slide 10: Guidance and Priorities
Full-Year 2024 Results Presentation GUIDANCE AND PRIORITIES Metric Guidance Comments 2025 Priorities 2025 Group 18,000 – 21,000 Would be another annual record for • Safe operations boe/d Jadestone Production – Reflects Sinphuhorm sale in April 2025 • Deliver against production Growth vs. 2024 driven
Slide 11: Akatara: High Uptime, Safe Operations
Full-Year 2024 Results Presentation AKATARA: HIGH UPTIME, SAFE OPERATIONS • 8.2 million manhours worked without a lost-time injury • 96% plant uptime in YTD 2025 • YTD 2025 gross production of c.6,200 boe/d • Planned shutdown in May 2025 for seven days – Enhance plant reliability and ability to reco
Slide 12: Australia Operations: Target High Uptime and Efficiency
Full-Year 2024 Results Presentation AUSTRALIA OPERATIONS: TARGET Recovery of Skua-11 subsea tree HIGH UPTIME AND EFFICIENCY Montara • Production averaged 4,200 bbls/d YTD 2025 after downtime associated with drilling operations, in line with budget • Skua-11ST drilling ahead, results expected in June
Slide 13: Vietnam Gas: FDP Submitted, GSPA Nearing Final Stages
Investor Presentation VIETNAM GAS: FDP SUBMITTED, GSPA NEARING FINAL STAGES • Revised NDUM Field Development Plan submitted to regulator in March 2025 and under formal review • GSPA negotiations approaching final stages – Fixed price gas underpinned by buyer take-or-pay volume commitment – New Vietn
Slide 14: Malaysia – Gearing Up for 2026 Drilling Activity on PM323
Full-Year 2024 Results Presentation MALAYSIA – GEARING UP FOR 2026 East Belumut Field – K10L Top Structure Map DRILLING ACTIVITY ON PM323 1km • Production averaged 4,200 boe/d YTD 2025, in line with budget Main • Ongoing preparation work for 2026 East Belumut (PM323) Phase 9 infill drilling campaign
Slide 15: Asia-Pacific: Jadestone Well Placed to Capitalize on Material Growth Opportunity
Full-Year 2024 Results Presentation ASIA-PACIFIC: JADESTONE WELL Remaining Asia-Pacific recoverable resources, by country PLACED TO CAPITALIZE ON MATERIAL GROWTH OPPORTUNITY • Decision in early 2025 to focus growth on areas where Jadestone has operating capability and critical mass • Thailand sale i
Slide 16: Optimizing Cash Generation to Drive Growth, Flexibility and Shareholder Returns
Full-Year 2024 Results Presentation OPTIMIZING CASH GENERATION TO DRIVE GROWTH, FLEXIBILITY AND SHAREHOLDER RETURNS Near-term financial priorities Medium-term financial priorities • Operational and financial • Strict approach to capital • Deliver 2025-2027 • Deliver funding solutions discipline allo
Slide 17: Jadestone's Investment Case
Investor Presentation JADESTONE’S INVESTMENT CASE Existing Portfolio Growth • Diversified production • High premium oil production Organic Non-organic • Six assets across three • Vietnam gas • Operator experience and countries • Fixed price gas production capability • Malaysia upside • Add value thr
Slide 18: Appendix
Full-Year 2024 Results Presentation Appendix May 2025
Slide 19: Outlook and Catalysts
Full-Year 2024 Results Presentation OUTLOOK AND CATALYSTS Assets Activity 2025 2026 Skua-11ST Montara RIC Compressor upgrade Swallow-1 subsea intervention LLIs PM 323 (East Phase 9 infill drilling campaign Belumut) AGPF operability enhancement Akatara Phase Phase Phased debottlenecking project 1 2 P
Slide 20: Thank You
For further information, please contact: PHIL CORBETT Head of Investor Relations ir@jadestone-energy.com THANK YOU May 2025