Valeura Energy (VLE) Corporate presentation summary

Strategic priorities and growth focus

• Emphasis on maximizing cash flow from core assets and reinvesting to grow reserves through near-field exploration and development opportunities.

• Operational excellence driven by experienced leadership, efficiency, and high HSE standards.

• Inorganic growth targeted via value-accretive M&A, focusing on cash-generative or near-term producing assets in Southeast Asia.

• Robust risk management and disciplined capital allocation underpin strategy.

Portfolio overview and operational highlights

• Operates a diversified portfolio in the Gulf of Thailand, including Nong Yao, Jasmine, Wassana, and Manora fields, with a combined Q1 2026 production of 22.3 mbbls/d.

• Significant reserves growth: 2P reserves at 57.8 mmbbls, with Jasmine and Wassana fields showing substantial increases.

• Wassana redevelopment underway, targeting production increase to 10 mbbls/d and first oil in Q2 2027.

• Strategic farm-in with PTTEP adds gas exposure and portfolio diversity, with 15 discoveries and near-term development plans.

Financial performance and capital allocation

• 2025 EBITDAX projected at US $300 million, with cash flow from operations at US $247 million and a record cash position of US $262 million at year-end 2025.

• Oil revenue for 2025 reached US $594 million, with an average realised price of US $70.2/bbl and operating netback of US $35.2/bbl.

• 2026 guidance: production of 19,500–22,500 bbls/d, capex of US $175–185 million, and adjusted opex of US $190–220 million.

• Strong cash flow supports ongoing investment, M&A, and share buybacks, with 2.76 million shares repurchased in the last 12 months.