Capricorn Energy (CNE) investor relations material

Executive summary

• Production in Egypt remained resilient, with WI production averaging 19,337 boepd (46% liquids), slightly above the mid-point of 2026 guidance of 18,000–22,000 boepd.

• Revenue in Egypt reached $100m, supported by a realised oil price of $89.5/bbl and gas price of $3.4/mscf.

• The merged concession agreement in Egypt was ratified, improving the framework for long-term investment and extending asset life.

• Two firm takeover offers were received after the period end, from Genel Energy plc and DNO ASA.

Financial highlights

• Group cash at 30 June 2026 was $114m, after early repayment of all remaining debt in April.

• Operating costs in Egypt were $5.0/boe, within the guidance range.

• Gross profit for H1 2026 was $71.1m, up from $11.1m in H1 2025.

• Profit after tax for the period was $24.1m, compared to a loss of $6.5m in H1 2025.

• Development and production capex was $52m; exploration capex was $1m.

Outlook and guidance

• FY26 production is expected to be above the mid-point of the 18,000–22,000 boepd guidance range.

• Full-year net capital expenditure is forecast toward the upper end of $85–95m, reflecting increased drilling efficiency.

• H2 2026 will focus on liquids-rich Abu Roash G reservoir and resume activity in the Obaiyed field.