Conrad Asia Energy (CRD) Investor Presentation summary

Portfolio overview and strategic positioning

• Holds a diversified portfolio of offshore gas assets in Indonesia, including the cornerstone Mako Gas Field and two Aceh PSCs, with significant contingent and prospective resources identified across all assets.

• Operates with high participating interests, providing control and flexibility for funding via farmout or divestment.

• Publicly listed on the ASX, offering pure play exposure to Asia’s rapidly growing offshore gas market.

Mako Gas Field development and commercialisation

• Mako is the largest undeveloped gas field in the West Natuna Sea, with 2C Contingent Resources of 376 Bcf (187 Bcf net) and high-quality, low-impurity gas.

• Phase 1 development estimated at US$322 million, targeting 112 mmscfd sales gas for seven years, with first gas expected late 2026.

• Binding gas sales agreements signed with Sembcorp Gas and PGN, enabling export to Singapore and potential supply to Indonesia if a spurline is built.

• Project leverages underutilised West Natuna Transportation System infrastructure, with strong demand from Singapore’s expanding power sector.

Aceh PSCs: discovered and prospective resources

• Two Aceh PSCs cover 20,000 km² with 100% interest, containing 2C Contingent Resources of 214 Bcf (161 Bcf net) and prospective resources exceeding 11 Tcf (net attributable).

• Shallow-water discoveries have high historical exploration success rates; modern 3D seismic planned to further define and expand resource base.

• Net present value of US$88 million ascribed to discovered resources, with first gas targeted for 2030.