Jadestone Energy (JSE) investor relations material

Company overview and strategy

• Diversified production from six assets across Australia, Malaysia, and Indonesia, with core assets Akatara and CWLH and significant Vietnam gas resource potential.

• Strategic focus on maximizing value from existing fields, developing proven gas resources, and pursuing accretive M&A, with no new exploration activities.

• Listed on AIM, London Stock Exchange, with a market cap of $192 million as of March 2026.

• 2P reserves of 56.2 MMboe at YE 2025 and 2026e production guidance of 18-21 kboe/d.

• 2025 revenue of $408 million and projected unlevered FCF of $260-400 million for 2026-2030.

Operational performance and asset base

• Six producing assets across three countries, with Akatara (Indonesia) and CWLH (Australia) as core cash-generative fields.

• Akatara achieved first gas in July 2024, with 2025 production averaging 6.1 kboe/d and 94% uptime.

• CWLH delivers high-value barrels with low decline and low opex, and abandonment capex is pre-funded.

• PenMal in Malaysia adds value through infill drilling and holds 60-100% interests in four PSCs.

• Vietnam's Nam Du/U Minh project holds 93.9 MMboe 2C resources, with FID targeted by end-2026 and first gas expected in late 2028/2030.

Financial discipline and capital allocation

• Focus on cash generation, cost optimization, and high-return, quick payback investments.

• 2026 capex guidance of $50-80 million, with two-thirds allocated to development in Malaysia and Vietnam.

• Active hedging policy covers 20-70% of oil production, with rolling strategy to manage price volatility.

• Portfolio resilience through diversification, strict capital allocation, and ongoing balance sheet optimization.

• Manageable decommissioning costs, with major abex expected in the 2030s and pre-funded for key assets.