Chariot (CHAR) AGM 2026 presentation summary

Strategic focus and asset portfolio

• Concentrates on upstream oil and gas with material exposure to producing assets offshore Angola and a clear pathway to cashflows from long-term production.

• Progresses opportunities to acquire additional barrels and strengthens operational capability through selective new ventures.

• Morocco remains a strategic asset with ongoing exploration and development discussions.

• Divesting renewables to realize value and focus on core upstream activities.

Angola operations and transactions

• Secured economic exposure to producing assets in Angola via partnerships with Etu Energias and BW Energy, supported by acquisition debt funding from Shell Trading.

• Two major transactions: Azule Energy and Chevron interests in Blocks 14 and 14K, totaling over $450M in consideration, fully funded by Shell Trading.

• Chariot's economic exposure is approximately 8,000 bopd, with contingent payments linked to oil price and development milestones.

• Significant upside potential with over 93 MMbbls gross remaining reserves and more than 500 MMbbls additional upside.

Production and development upside

• Block 14 produces 40,000 bopd with over 900 MMbbls produced to date and ongoing OPEX optimization strategies.

• PKBB Pinda reservoir discovery in 2024 supports a new development phase targeting ~20,000 bopd gross.

• Existing infrastructure enables low-cost, rapid payback development drilling and further exploration potential.