Rockhopper Exploration (RKH) investor relations material

Executive summary

• NDA 1 project sanctioned in late 2025, fully funded, targeting first oil in Q1 2028; manufacturing and on-island work progressing, with drilling to start early 2027.

• Second FPSO purchased for CDA, aiming to increase total production to ~180,000 bbls/d; FID for CDA targeted in H1 2028, first oil possible in 2030.

• Updated reserves and resources report shows 2P reserves of 110mmbbls and 2C resources of 219mmbbls; post-tax NPV10 at 2P+2C level increased by $0.79bn to $2.95bn.

• Capital raise of $200 million completed, funding operations through mid-2028, including NDA 1, CDA, and exploration.

• Board strengthened with new CFO and Non-Executive Director; Italian asset disposal pending final regulatory approval.

Financial highlights

• Loss after tax for H1 2026 was $3.4 million, a significant improvement from $51.0 million loss in H1 2025.

• Administrative expenses flat at $2.5 million; finance income rose to $2.2 million, finance expenses increased to $3.1 million.

• Cash and term deposits at 30 June 2026 were $147.0 million (down from $171.0 million at year-end 2025).

• Additions to property, plant, and equipment totaled $76.3 million, mainly for NDA 1 development.

• Total equity increased to $352.6 million, reflecting capital raise and share-based payments.

Outlook and guidance

• Fully funded to mid-2028, with first oil from NDA 1 targeted for Q1 2028 and CDA FID readiness by mid-2028.

• Exploration drilling to recommence in NFB during or after the development campaign.

• Contingency funding and undrawn $350 million Senior Debt Facility provide additional liquidity.