Pharos Energy (PHAR) Investor presentation summary

TGT fiscal terms and contractor take

• Contractor oil take before Dec 2026 is 64% with a 35% cost recovery cap; post-Dec 2026, contractor take ranges from 36% to 84% depending on cost recovery and royalties.

• Oil royalty rates range from 8% to 19%, with cost oil recovery caps increasing to 50% in certain scenarios.

• Windfall tax of 50% to 60% applies to profit oil above 20% of base price; environmental fees and windfall tax are deductible from enterprise tax.

CNV fiscal terms and contractor take

• Contractor oil take before Dec 2027 is 72% with a 35% cost recovery cap; post-Dec 2027, contractor take ranges from 43% to 84%.

• Oil royalty rates range from 6% to 10% for production up to 75kbopd; gas royalties range from 0% to 10%.

• Environmental fees and windfall tax are deductible from enterprise tax.

El Fayum and NBS fiscal terms

• El Fayum pre-consolidation contractor take is 50.8%, post-consolidation is 56.8% assuming full cost oil utilisation and production ≤5kbopd.

• NBS pre-consolidation contractor take is 45.4%, post-consolidation is 56.8% under similar assumptions.

• Profit oil splits are based on production rates and Brent price, with deductions if Brent exceeds $80.