Deutsche Rohstoff (DR0) International Investment Forum Presentation summary

Business overview and operations

• Focuses on oil and gas production in the US Rocky Mountain region, with operations in Colorado and Wyoming through four subsidiaries.

• 2024 production expected at ~15,000 BOEPD, with 54 million BOE of proven and probable reserves.

• Diversified asset base, with all companies structured for long-term operation or non-operation.

• Active in two major basins: Powder River Basin (65,000 acres, 12,000 BOEPD) and DJ Basin (6,000 acres, 3,000 BOEPD).

• Among the top 10 players in the Powder River Basin by 2024, with over 100 potential well locations.

Financial performance and growth

• 2024 revenue guidance is €210–230 million, with 9M24 revenue at €171.6 million (+29% YoY).

• EBITDA for 9M24 reached €122.2 million (+20% YoY), with group result at €37.9 million.

• Strong share price performance: +65% since Jan 2023, outperforming DAX and oil peers.

• Market capitalization at €192 million as of Feb 2025, with a 1.75 EUR dividend paid in 2024 (+35% YoY).

• Completed €4 million share buyback and full repayment of 19/24 bond.

Reserves and asset value

• Reserve report shows a 17% YoY increase in reserve value, with reserves more than doubling since 2019.

• YE2024 discounted cash flow (10%) for reserves at $493 million; proved reserves at 54 million BOE.

• Oil price sensitivity: raising long-term oil price from $60 to $80 increases reserve value by $390 million.

• Cash flow from existing wells (PV10) ranges from $473m (WTI $60) to $775m (WTI $80).

• High additional potential with over 100 gross wells possible and further upside from other formations.