Level 6, 134 William Street

P +61 2 9332 5000

Woolloomooloo NSW 2011

F +61 2 9332 5050

Australia

horizonoil.com.au

For personal use only

19 November 2021

The Manager

Company Announcements

ASX Limited

Exchange Centre

20 Bridge Street

Sydney NSW 2000

HORIZON 2021 ANNUAL GENERAL MEETING POLL RESULTS AND PRESENTATION

In accordance with Listing Rule 3.13.2 and section 251AA of the Corporations Act, we advise details of the resolutions and the proxies received in respect of each resolution as set out in the attached proxy summary.

Also attached is the AGM Presentation made by the CEO during the meeting.

Authorisation

This ASX announcement is approved and authorised for release by the Company Secretary.

Horizon Oil Limited

More Information Chris Hodge

T +61 2 9332 5000

ABN 51 009 799 455

Horizon Oil Limited

info@horizonoil.com.au

r personal use only

only2021 AGM PRESENTATION

useersonalANNUAL GENERAL MEETING PRESENTATION

COMPLIANCE STATEMENT

DisclaimerReserves Disclosure

only

• Unless otherwise stated, all petroleum reserves and resource estimates refer to

• Statements contained in this material, particularly those regarding the possible or assumed

future performance, costs, dividends, returns, production levels or rates, prices, reserves,

those estimates as set out in Horizon's Reserves and Resources Statement as at the

potential growth of Horizon Oil Limited, industry growth or other trend projections and any

balance date (i.e. 30 June) as most recently released to ASX. Horizon is not aware of

estimated company earnings are or may be forward looking statements. Such statements

any new information or data that materially affects the information included in this

relate to future events and expectations and as such involve known and unknown risks and

presentation. All the material assumptions and technical parameters underpinning

uncertainties. Actual results, actions and developments may differ materially from those

these estimates continue to apply and have not materially changed.

expressed or implied by these forward looking statements depending on a variety of factors.

• For the purposes of this presentation, 6 bcf of raw gas equals 1 mmboe.

• While every effort is made to provide accurate and complete information, Horizon accepts no

• The estimates of petroleum reserves and resources contained in this statement are

responsibility for any loss, damage, cost or expense incurred by you as a result of any error,

based on, and fairly represent, information and supporting documentation prepared

omission or misrepresentation in information in this presentation.

by staff and independent consultants under the supervision of Mr Gavin Douglas, the

• In this presentation, references are made to EBITDAX, Underlying Profit and Free Cashflow,

GM-Production and Exploration of Horizon Oil Limited. Mr Douglas is a full-time

use

which are financial measures which are not prescribed by Australian Accounting Standards:

employee of Horizon Oil Limited and is a member of the American Association of

Petroleum Geologists and the Society of Petroleum Engineers. Mr Douglas'

• EBITDAX represents the profit adjusted for interest expense, taxation expense, depreciation,

qualifications include a Master of Reservoir Evaluation and Management from Heriot

ersonal

amortisation, and exploration expenditure (including non-cash impairments)

Watt University, UK and more than 24 years of relevant experience. Mr Douglas

• Underlying profit represents the profit adjusted for the unrealised movement in the value of

consents to the use of the petroleum reserves and resources estimates in the form

options issued under the subordinated loan facility, and non-cash impairments

and context in which it appears.

• Free Cash Flow represents Cashflow from Operating Activities less Investing cashflows

• This presentation should be read in conjunction with the 2021 Reserves and

Resources Statement, the Annual Financial Report for the year ended 30 June 2021

• All references to dollars in the presentation are United States dollars unless otherwise noted.

and ASX Announcements.

ANNUAL GENERAL MEETING PRESENTATION

2

OUR STRATEGY

only

Further Distributions to

use

Maximise Free

Invest in New Business

Shareholders

Cashflow

if exceptional

when prudent to do so

ersonal

ANNUAL GENERAL MEETING PRESENTATION

3

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Horizon Oil Limited published this content on 19 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 November 2021 02:22:01 UTC.