Ascent Resources : Corporate Presentation - September

Ascent Resources Plc Natural Resources across Latam

Energy & Natural Resources across the Hispanic Americas & Europe

September 2022

2

Ascent

Resources PLC

Corporate

Presentation

Disclaimer

The information contained in this confidential document ("Presentation") has been prepared by Ascent Resources plc (the "Company"). It has not been fully verified and is subject to material updating, revision and further amendment. This Presentation has not been approved by an authorised person in accordance with Section 21 of the Financial Services and Markets Act 2000 ("FSMA") and therefore it is being delivered for information purposes only to a very limited number of persons and companies who are either existing shareholders or are persons who have professional experience in matters relating to investments and who fall within the category of person set out in Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or are high net worth companies within the meaning set out in Article 49 of the Order or are otherwise permitted to receive it. Any other person who receives this Presentation should not rely or act upon it. By accepting this Presentation and not immediately returning it, the recipient represents and warrants that they are a person who falls within the above description of persons entitled to receive the Presentation. This Presentation is not to be disclosed to any other person or used for any other purpose.

While the information contained herein has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers give, have given or have authority to give, any representations or warranties (express or implied) as to, or in relation to, the accuracy, reliability or completeness of the information in this Presentation, or any revision thereof, or of any other written or oral information made or to be made available to any interested party or its advisers (all such information being referred to as "Information") and liability therefore is expressly disclaimed. Accordingly, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers take any responsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tortious, statutory or otherwise, in respect of, the accuracy or completeness of the Information or for any of the opinions contained herein or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this Presentation.

This Presentation may contain forward-looking statements that involve substantial risks and uncertainties, and actual results and developments may differ materially from those expressed or implied by these statements. These forward-looking statements are statements regarding the Company's intentions, beliefs or current expectations concerning, among other things, the Company's results of operations, financial condition, prospects, growth, strategies and the industry in which the Company operates. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These forward-looking statements speak only as of the date of this Presentation and the Company does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of this Presentation.

Neither the issue of this Presentation nor any part of its contents is to be taken as any form of commitment on the part of the Company to proceed with any transaction and the right is reserved to terminate any discussions or negotiations with any prospective investors. In no circumstances will the Company be responsible for any costs, losses or expenses incurred in connection with any appraisal or investigation of the Company. In furnishing this Presentation, the Company does not undertake or agree to any obligation to provide the recipient with access to any additional information or to update this Presentation or to correct any inaccuracies in, or omissions from, this Presentationwhich may become apparent.

This Presentation should not be considered as the giving of investment advice by the Company or any of its shareholders, directors, officers, agents, employees or advisers. In particular, this Presentation does not constitute an offer or invitation to subscribe for or purchase any securities and neither this Presentation nor anything contained herein shall form the basis of any contract or commitment whatsoever. Each party to whom this Presentation is made available must make its own independent assessment of the Company after making such investigations and taking such advice as may be deemed necessary. In particular, any estimates or projections or opinions contained herein necessarily involve significant elements of subjective judgment, analysis and assumptions and each recipient should satisfy itself in relation to such matters.

You should be aware of the risks associated with this type of investment and that in emerging markets, the risks are far greater than in more developed markets (including significant legal, economic and political risks) and that the Company could potentially lose the benefit of its assets. You acknowledge the high number of expenses and difficulties frequently encountered by companies in the early stages of development, particularly companies operating in emerging markets and you should be aware that this may lead to the loss of your entire investment.

Neither this Presentation nor any copy of it may be (a) taken or transmitted into Australia, Canada, Japan, the Republic of Ireland, the Republic of South Africa or the United States of America (each a "Restricted Territory"),

their territories or possessions; (b) distributed to any U.S. person (as defined in Regulation S under the United States Securities Act of 1933(as amended)) or (c) distributed to any individual outside a Restricted Territory who	is
a residentthereof in any suchcase forthe purpose of offer forsale or solicitationor invitationto buy or subscribe any securities or in the contextwhere its distributionmay be construed as suchoffer,solicitationor invitation,	in

any such case except in compliance with any applicable exemption. The distribution of this document in or to persons subject to other jurisdictions may be restricted by law and persons into whose possession this documentcomes should inform themselves about, and observe, any such restrictions. Any failure to comply with these restrictions may constitute a violation of the laws of the relevant jurisdiction.

Disclaimer

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Ascent

Resources PLC

Corporate

Presentation

The re-birth of Ascent

Building an ESG compatible natural resources business

Asset Portfolio

Investment Proposition

The re-birth of Ascent

Strategy

Broadencurrentonshoregas portfolioagainstbackdropofrole ofgasasatransitionalfueland recentstructuralpriceincreases

IntroduceESGMetalsprocessing projectsprovidingearly cashflow frommodestupfront capital outlays

Peruasprimarytargetgeography takingadvantageofpolitical uncertainty / pandemic impact and the resulting attractive asset entry points

Pursue €500M+ damages claim against the Republic of Slovenia under the ECT and UK- Slovenia BIT, funded by specialist arbitration litigating lawyers

Legacy75%interest in Sloveniantightgas developmentproject

Averageproductionof circa 110kscm/monthof gasover first 6monthsof 2022from PG-10 & PG-11A wells Mediation process September regards Ascent claim to additional revenues above a baseline number for other wells in concession area

Initiated significant monetary damages claim, in excess of €500 million, against the Republic of Slovenia under the Energy Charter Treaty and UK-Slovenia Bilateral Investment Treaty

Large damages claim (EURO 500M+) against Republic of Slovenia

PipelineofpotentialO&GaswellasESG Metalsdeals inPeru and Europewith maidendeal expectedbefore year end

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Ascent

Resources PLC

Corporate

Presentation

The team

The team

Andrew Dennan

Chief Executive Officer

Over15years'experienceincapitalmarkets,corporate finance,resourceassetfundingandtransactional experienceinLondon

Formerlyprominentleadingrolesinstockbrokingand specialsituationinvestmentmanagement(8years)

BSc(hons)inActuarialScience,CassBusinessSchool

Stephen Birrell

Independent Non-Executive Director

Spanishspeaking,geologistwith35years'O&Gandmining

experiencewithadeepfocusonCentralEasternEurope.

Operatedacrossmultiplejurisdictionsincludingthe

CaribbeanandCEEwithBritoil,BPandElf.

BScHonoursinAppliedGeology

ChairsRemunerationCommitteeandthe

Technical/HSECommittee.

James Parsons

Executive Chairman

Over 20years' experienceinthefieldsof strategy, management, finance and corporate development in the energy industry across Europe, South AmericaandCentralAmerica

12yearswithRoyal DutchShell previouslyworkinginBrazil,theDominion Rebpulic,Scandinavia,theNetherlandsandLondon

Chairman of Corcel plc, Echo Energy plc and Coro Energy plc. AqualifiedaccountantandBAHonoursinBusinessEconomics

Malcolm Graham Wood

Non-Executive Director

Over40years'experienceinenergybusiness,wellknown corporatebrokerandmarketcommentator

FoundingpartnerofHydrocarbonCapitalwhichprovides independentadvisoryservicestotheO&Gsector

DirectoroftheMavenIncomeandGrowthVCT4PLC,aventure capitaltrustlistedonthepremiumsectoroftheLSEwherehe chairstheriskcommittee

ChairmanoftheAuditCommittee;Memberofthe

RemunerationCommittee

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Ascent

Resources PLC

Corporate

Presentation

Legacy Slovenia Position and Damages Claim