Finder Energy Holdings Limited · ASX:FDR
Finder Energy — Investor Presentation (February 2026)
23 slides from Finder Energy's investor presentation, Feb 23, 2026
Slide 1: Corporate Presentation
KTJ Fast-Track to First Oil Corporate Presentation February 2026 ASX : FDR 1
Slide 2: Highlights
Highlights We are targeting a series of high Ownership of Petrojarl I FPSO de-risks the KTJ Project and unlocks impact catalysts on the KTJ Project in strategic and economic benefits1 1H 2026… 50% of development capex (US$170m) secured for 1 Secure rig for development wells KTJ Project under farmin
Slide 3: Corporate Snapshot (ASX:FDR)
Corporate Snapshot (ASX:FDR) 1 Year Price Chart Company Directors Vol (m) Price ($) Share Price 0.60 57c 25 60 20 0.50 50 0.40 15 40 Bronwyn Barnes 20 February 2026 0.30 30 Chairman 10 0.20 20 Market Capitalisation 5 0.10 10 $283m 0 0.00 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25
Slide 4: PSC 19-11 Timor-Leste Overview
PSC 19-11 Timor-Leste Overview 4
Slide 5: PSC 19-11 Resources – KTJ Upgraded
PSC 19-11 Resources – KTJ Upgraded Gross (100%) Contingent and Prospective Resources1 Karungu 180 KTJ Project Oil – MMbbl 10 25 MMbbl 160 26 Kuda Tasi 140 Jahal PSC 19-11 30 Lanjara/SW 120 Laminaria/ 66% Corallina 100 49 205 MMbbl 34% Kitan 26 MMbbl 80 Buffalo N 21 MMbbl 60 Krill 9 10 km 14 MMbbl Sq
Slide 6: Powerful reservoir performance
Powerful reservoir performance JH 1 & ST1 KT 1 KT 2 KT 3 • High quality Laminaria Formation reservoir JH 2 KT 4 • Strong aquifer drive and pressure support KT 5 • Light sweet oil - 55-60° API Jahal Kuda Tasi 25,000 2C Production Model Forecast1 25 20,000 Owned FPSO extends 20 Cumulative Production (
Slide 7: Fast-Track Development – Gathering Momentum
Fast-Track Development – Gathering Momentum 2024/25 | Subsurface • Fully appraised with 5 well penetrations in Kuda Tasi and Jahal, including logs, core and flow tests • Independent resource upgrade verified by RISC Advisory1 • Significant upside mapped at Krill & Squilla oil discoveries2 2025 | Dev
Slide 8: SLB Strategic Alliance
SLB Strategic Alliance • SLB and FDR entered into an Alliance1 to fast-track development of the Kuda Tasi and Jahal oil fields (KTJ Project) • The alliance mobilises resources across the Subsea Integration Alliance (SIA) which comprises Subsea7, SLB and OneSubsea, bringing enormous resources and dev
Slide 9: KTJ Final Development Concept
KTJ Final Development Concept 1 FDR & SIA2 delivered the Accelerated FEED Project on PJI FPSO time an on budget 3 production wells connected to Production Trees & ESP Manifold the PJI via flexible flowlines Subsea ESPs optimise Production Trees & production, maximise field ESP Manifold FPSO Moorings
Slide 10: FEED Complete on time and on budget
FEED Complete on time and on budget1 SUBSURFACE AND RESERVOIR DRILLING AND COMPLETION • Detailed reservoir model constructed • Well construction and engineering completed • Model refined with latest technical • Two Kuda Tasi well designs improved to updates, Ikan 3D repro, mapping, include a drill c
Slide 11: The Petrojarl I
The Petrojarl I1 Strategic infrastructure ownership is expected to deliver material economic benefits Acquisition US$15m acquisition price Accelerates First Oil • Comprehensive due diligence Cash and scrip consideration to 2027 year-end target by maritime & production facility Amplus Energy experts
Slide 12: Development Funding
Development Funding • In 2025, Finder entered into a farmout transaction with TIMOR GAP securing 50% of the total development capex for the KTJ Project from FID, up to a gross cap of US$338 million1 • TIMOR GAP is a highly valued joint venture partner and the National Oil Company of Timor-Leste • Fi
Slide 13: KTJ Resources certified by RISC Advisory
KTJ Resources certified by RISC Advisory KTJ Gross Contingent Resource1 (MMbbl) 1C 2C 3C 19.0 25.5 34.6 Top Reservoir 3D Kuda Tasi Depth Map Fully appraised with 5 wells – logs, core and well tests data Covered by high-end Ikan 3D reprocessed seismic data Jahal Excellent quality Laminaria Formation
Slide 14: Upside – KTJ is just the beginning
Upside – KTJ is just the beginning Core Value + Undeveloped Discoveries + Low Risk Exploration KTJ Development Project Krill & Squilla Multiple Prospects 25 MMbbl, Gross 2C 23 MMbbl, Gross 2C 116 MMbbl, Gross Pmean KTJ Development Lanjara Prospect Kitan Krill Kurisi Prospect Squilla 25 MMbbl 26 MMbb
Slide 15: Krill & Squilla Oil Discoveries – Significant Upside Identified
Krill & Squilla Oil Discoveries – Significant Upside Identified HISTORICAL MAPPING 2025 MAPPING GRV New 2025 Ikan 3D Reprocessing FIELD Step-change in image quality resolving GRV (m3 x 106) GRV (m3 x 106) Variance shallow fault complexity and improving Krill 136 217 +60% reservoir definition Squilla
Slide 16: Catalysts
Catalysts The KTJ Project is gathering momentum off the back of a series of major de-risking events Strategic Alliance with SLB RISC Independent Resource upgrade SPS/D&C FEED Complete TIMOR GAP Farmin PJI acquisition We are in a phase of intense activity as we execute our acceleration strategy with
Slide 17: APPENDICES
Ar tinder APPENDICES
Slide 18: UK North Sea – ILX Exploration Portfolio
UK North Sea – ILX Exploration Portfolio Finder P2610 (50%) licence Equinor and Aker BP Prolific Central North Sea drilling updip Langemann Production and Lofn now platform • All licences operated by FPSO P2655 (100%) Boaz Eirin Finder Gina Krog Claymore Piper Sleipner • Strategic partnerships Tarta
Slide 19: Australia - key positions in prolific basins
Australia - key positions in prolific basins WA-547-P (100%) Northern Carnarvon Basin Vulcan Sub-basin • 508 MMboe over Phoenix Proven Play Oliver 3 key prospects1 Phoenix South surrounded by full- to-spill discoveries Roc • Along trend from Dorado Pavo Audacious Dorado Discovery Tenacious Mutineer
Slide 20: Contingent and Prospective Resources
Contingent and Prospective Resources Contingent Resources7 Oil/Cond Gross Contingent Resources Net Contingent Resources ASX announcement reference date and Country Licence FDR Equity Name Status (MMbbl)/ notes3 Gas (BCF) 1C 2C 3C 1C 2C 3C KTJ Project ASX – 8 Oct 2025 – RISC independent Kuda Tasi Fie
Slide 21: Notes on Petroleum Resource Calculations
Notes on Petroleum Resource Calculations Table Notes 1. Finder calculates reserves and resources according to the Society of Petroleum Engineers Petroleum Resource Management System (SPE-PRMS) definition of petroleum resources. Finder reports reserves and resources in line with ASX listing rules. 2.
Slide 22: Disclaimers and Cautionary Statement
Disclaimers and Cautionary Statement Forward-looking statements This report contains certain “forward-looking statements”, which can generally be identified by the use of words such as “will”, “may”, “could”, “likely”, “ongoing”, “anticipate”, “estimate”, “expect”, “project”, “intend”, “plan”, “beli
Slide 23: www.finderenergy.com
+61 8 9327 0100 info@finderenergy.com www.finderenergy.com 23
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