Coro Energy : Investor Update Q2 2023

Q2 2023

CORO ENERGY PLC

A SOUTH EAST ASIAN LOW

CARBON ENERGY BUSINESS

UPDATED29/03/23

PRIVATE & CONFIDENTIAL

DISCLAIMER

The information contained in this document ("Presentation") has been prepared by Coro Energy plc (the "Company"). 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.

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15% Interest in Duyung PSC containing

EXECUTIVE SUMMARY

Revenue producing 3MW Vietnamese rooftop Solar project with a further 3.25MW acquisition under exclusivity

100MW Solar and 100MW onshore wind projects in Philippines (development stage)

20.3% equity interest in IoN Ventures, a private developer of flexible power assets

Coro Energy plc's equity essentially a leveraged play on commodity prices (Duyung NPV10 US$87M - net to Coro at USD80/bbl)

EXECUTIVE SUMMARY

"Blending SE Asian high quality gas assets with growing renewables"

Mako Gas field in Indonesia; 437 Bcf discovered gas resource (gross) with the intent to feed Singapore markets

STRATEGY

Support operator of Duyung to secure

GSA, reach FID and farm out and / or monetise earlier given current strong global gas backdrop

Increasing deployment of capital into Asian renewables projects

Continue to evaluate new projects in the region across oil, gas and clean energy

Maintaining alignment with investors in the Eurobond, maturing in April 2024.

THE TEAM

THE TEAM

James Parsons

Leonardo Salvadori

Michael Carrington

Ewen Ainsworth

Executive Chairman

Managing Director

(Oil & Gas)

Managing Director (Renewables)

Chief Financial Officer

Experienced AIM Chairman with over 25 years' experience in the fields of strategy, management, finance and corporate development

Leonardo has over 30 years of international exploration, business development and general management experience.

Qualified accountant and has a BA Honours in Business Economics

He has worked in Libya and Norway as an explorationist and in Italy with exploration and new venture roles, focussing on international asset evaluations, portfolio development and corporate acquisitions.

30 years' experience of energy efficiency and clean tech generation in the built environment, including strategic management, acquisition integration, research development, commercialisation, origination, due diligence and project pre-development across Europe,

Non-Executive Director of Corcel Plc and CEO of Discovery Energy Limited, an advisory, consultancy and investment company with over 30 years experience in a variety of board level roles.

Qualified accountant

UK and ASEAN countries.

Stephen Birrell

Marco Fumagalli

Naheed Memon

Independent Non-Executive Director

Independent Non-Executive Director

Non-Executive Director of Ascent Plc, director of Ossian Energy Limited and president of ROPEPCA, the upstream oil and gas operator association of Romania. Spanish speaking geoscientist with over 35 years experience in the upstream oil and gas industry.

Non-Executive Director & Managing Partner with over 25 years' experience in private equity, infrastructure, energy and biosciences, among others

Independent Non-Executive Director Subject to regulatory checks

Naheed is a dual UK and Pakistani national who has worked extensively across the private and public sector in both Pakistan and internationally.

Qualified accountant with a degree in Business Administration

BSc Honours in Applied Geology

She routinely rotates between Islamabad, Dubai and London and is Chief Executive of AIM quoted Oracle Power plc.

WHY SOUTH EAST ASIA?

WHY SOUTH EAST ASIA?

Rapid GDP growth will increase energy demandSignificant new annual investment in renewables is forecast to 2040 to meet growing demand

Governments noted to be shelving coal projects in favour of clean energy substitutes

PROJECTED ASEAN GDP GROWTH, 2020-2040

ELECTRICITY DEMANDRENEWABLES AS A SHARE OF PRIMARY ENERGY SUPPLIED - 2021

20,000

15,000

BILLION USDTERAWATTHOURS

10,000

2010

2018

2020

2025

2030

2035

2040

0%

6%

12%

18%

24%

30%

>36%

FORECAST NEW INSTALLED CAPACITY ANNUALLY TO 2040 - GIGAWATTSCOAL AS A SHARE OF

PRIMARY ENERGY SUPPLIED - 2021

5,000

2020

2025

2030

2035

2040

BRUNEI

LAO PDR

PHILIPPINES

THAILAND

CAMBODIA

MALAYSIA

SINGAPORE

VIETNAM

0

2

4

6

8

10

INDONESIA

MYANMAR

SOLAR PV

WIND

HYDRO

OTHER RENEWABLES

SOURCE: 6TH ASEAN ENERGY OUTLOOK 2020

SOURCE: IEA 2019

SOURCE:BP STATISTICAL REVIEW OF WORLD ENERGY 2021