Conrad Asia Energy (CRD) Investor presentation summary

Strategic positioning and market context

• Developing the largest undeveloped gas field in Indonesia's Natuna Sea, targeting Southeast Asia's growing energy demand and transition to cleaner fuels.

• Gas is prioritized for domestic use in Indonesia, with government policies supporting increased local gas utilization and international-level pricing.

• PLN forecasts a 60% increase in Indonesia's gas demand over the next decade.

Project portfolio and reserves

• Operates three PSCs in Indonesia, including the Mako Gas Project and two Aceh offshore blocks.

• Mako Gas Project holds 330 Bcf gross 2P reserves (170 Bcf net), with first gas targeted for Q4 2027.

• Aceh PSCs contain over 200 Bcf 2C contingent resources and significant prospective resources, with high historical exploration success rates.

Mako Gas Project development and funding

• Final Investment Decision (FID) reached in March 2026, transitioning to a fully funded, contracted gas developer.

• Over 80% of the $320 million capex committed; project is fully funded with no equity dilution.

• Nations Natuna Barat funds 75% of development costs and carries the remaining 25% through a loan repaid from production revenues.

• All gas volumes contracted to PLN EPI at ICP-linked prices, with plateau production of ~120 mmscfd for 6-7 years.