DANA GAS (DANA) Corporate Presentation summary

Company overview and asset base

• Established in 2005, operates as the largest private-sector natural gas company in the Middle East, listed on the Abu Dhabi Securities Exchange with a market cap of $1.2bn and over 1 billion barrels of 2P reserves.

• Maintains a stable production track record, averaging 55 Kboe/d in 2023, with over 12 years of production above 50 Kboe/d.

• Operates through a streamlined structure, with significant interests in Pearl Petroleum and assets in KRI, Egypt, and a legal claim in the UAE.

• Board and management possess deep regional oil and gas expertise and strong governance.

Kurdistan Region of Iraq (KRI) operations

• Holds the largest 2P gas reserves in KRI (3.1 billion BOE gross to Pearl), supplying over 80% of KRI's electricity generation.

• Current production capacity exceeds 500 MMscf/d, with expansion (KM250) set to add 250 MMscf/d and $150m in annual revenue (DG share) at $70/bbl Brent.

• Payment mechanism ensures timely, full payments since late 2023, with receivables trending down and consistent monthly collections.

• Revenue streams diversified across gas, condensate, and LPG, with gas accounting for 49% of H1 2024 KRI revenue.

Egypt operations

• Active since 2007, currently the 7th largest gas producer in Egypt, operating 13 development leases and producing 21.8 Kboe/d in 2023.

• New consolidation agreement with EGAS improves fiscal terms, extends asset life, and includes $100m investment to increase production and reserves.

• FX situation has improved, enabling better USD repatriation; capex program aims to mitigate production decline and extend field life by up to 5 years.