Condor Energies Inc · TSX:CDR
Condor Energies — Investor Presentation (October 2025)
22 slides from Condor Energies's investor presentation, October 2025
Slide 1: Scalable Projects to Deliver Sustainable Cash Flow
Corporate Presentation October 2025 Scalable Projects to Deliver Sustainable Cash Flow 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 +95 years in Central Asia Established in 2006 by the founders of the multi-billion-dollar Osisko mining group Pr
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 Kazakh Critical Minerals Kazakh Modular LNG • Strategic supplier to EU, China • Secured feedgas = 1.5 MM • Documented subsurface
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 Amu-Darya: World Class Hydrocarbon Basin Number of Active Field 282 8 71 Prolific gas basin with over 270 TCF discovered to date* gas fields Wells Area km2 Remaining potential estimated
Slide 6: Modern Techniques to Maximize Value
Modern Techniques to Maximize Value Condor’s application of best practices are 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 geologic’ reflecto
Slide 7: Multi-well Drilling Campaign is Underway
Multi-well Drilling Campaign is Underway Efforts underway to contract a second drilling rig Drilling Condor’s 1st Hz Well in Uz Drilling of 1st well is ongoing • Pilot hole targeted to be completed in Oct ‘25 and horizontal leg in Nov ’25 – Pilot hole is collecting modern log and core data to opti
Slide 8: 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 9: LNG Production Benefits for Central Asia
LNG Production Benefits for Central Asia More environmentally friendly & cost-effective than diesel while providing enhanced 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 init
Slide 10: Kazakhstan’s 1st LNG Production in 2026
Kazakhstan’s 1st LNG Production in 2026 Condor’s LNG will help alleviated 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 48,000 gpd facility with fabrication expected to ship in Q1 2
Slide 11: 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 Critical Minerals License Highlights: Material Critical Minerals Land Position is Established Active copper exploration activities underway in neighboring licenses by major
Slide 12: Environment, Social & Governance
Environment, Social & Governance Employee Safety Training Environment E DLE lithium brine extraction for EV battery manufacturing Introducing LNG production in Central Asia to reduce diesel fuel usage and reduce emissions Implementing Canadian Health, Safety and Environmental training and poli
Slide 13: 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 Subsurface Mapping underway program
Slide 14: 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 15: 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 16: 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 17: Appendix – Additional Information
Appendix – Additional Information November 2010 www.condorpetroleum.com
Slide 18: Under-exploited Jurassic Stack
Under-exploited Jurassic Stack Multiple Play Types with Material Thicknesses, Derisked with Modern Technologies Carbonate and Clastic Reservoirs • More than 1400-meter thickness of gas-charged proven and prospective reservoirs • Multiple play types provide a diverse prospect inventory • Prior expl
Slide 19: Barrels of Oil Equivalent Advisory and Abbreviations
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 20: 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 21: 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 22: 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
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