Conrad Asia Energy (CRD) Investor Presentation summary

Strategic positioning and market context

• Focused on capitalizing on Southeast Asia's rapidly growing energy demand, particularly in Indonesia, where gas demand growth has outpaced China and global averages over the last decade.

• Natural gas is positioned as a key transition fuel, with Indonesia's government seeking to increase gas in the energy mix from its current 16% share.

• Recent agreements, such as the Mako gas deal, highlight willingness to pay global prices and urgency in securing gas supply.

Project portfolio and resource base

• Holds a portfolio of discovered and prospective gas assets, including the Duyung PSC (Mako Gas Field) and two 100%-owned Aceh PSCs covering 20,000 sq km.

• 2C Contingent Resources total 592 Bcf (100%), with 355 Bcf net attributable, rising to 392 Bcf after the Coro settlement.

• Aceh PSCs offer 216 Bcf (gross) 2C Contingent Resources and unrisked prospective resources exceeding 15 Tcf (100%), with 11 Tcf net to the company.

• Mako Gas Field is the largest undeveloped gas resource in the West Natuna Sea, with infrastructure in place and a revised plan of development approved.

Development and commercialisation plans

• Mako Gas Field targets first production in 2027, with GSA, farm-down, and FID all forecast for completion in 2025.

• Recent GSA with PLN secures global pricing for gas, reflecting strong Indonesian demand.

• Aceh shallow-water discoveries are being matured for commercialisation, with 3D seismic planned to refine resource estimates and support small-scale LNG and gas-to-power opportunities.

• Farm-down discussions are ongoing for both Mako and Aceh assets, aiming to secure carry and cash considerations.