Serica Energy (SQZ) AGM 2025 presentation summary

Strategic positioning and operational focus

• Production from two major hubs ensures strong cash generation and balanced oil/gas output, with Bruce Hub gas representing about 5% of UK production.

• Emphasis on safety, operational delivery, and maintaining emissions below the UK North Sea average.

• Robust balance sheet with low decommissioning liabilities supports ongoing growth and shareholder returns.

Recent operational achievements

• Successful Triton drilling campaign delivered five wells safely, on time, and on budget, with two wells already enhancing production.

• Bittern B6 and Gannet GE05 wells achieved strong initial flow rates, exceeding 5,000 and 6,000 boepd net, respectively.

• Triton maintenance and repairs completed, with production set to resume by end of June.

Near-term growth and development projects

• Belinda BE01 well completed ahead of schedule and under budget, flow tested at 7,500 boepd, with first oil expected January 2026.

• Tie-back operations and reservoir optimization at Belinda field demonstrate strong technical execution.