Longboat Energy : Investor Update - 24 June 2021

Longboat Energy plc

• unique, multi-well Norwegian exploration drilling opportunity

June 2021

DISCLAIMER

The information contained herein has been provided solely for information purposes and does not purport to be comprehensive or contain all the information that may be required by recipients to evaluate Longboat Energy plc (the "Company"). This presentation and the information contained in it has not been independently verified and no reliance should be placed on it or the opinions contained within it. In furnishing the presentation, the Company reserves the right to amend or replace the presentation at any time and undertakes no obligation to provide the recipient with access to any additional information. The Company may, but shall not be obliged to, update or correct the information set forth in this presentation or to provide, update or correct any additional information.

The Company does make any representation or warranty, express or implied, as to the accuracy or completeness of this presentation or the information contained herein and, except in the case of fraud, the Company shall not have any liability (direct, indirect, consequential or otherwise) for the information contained in, or any omissions from, this presentation.

This presentation does not constitute a prospectus or offering memorandum or offer in respect of any securities and should not be considered as a recommendation by the Company, its affiliates, representatives, officers, employees or agents to acquire an interest in the Company. This presentation does not constitute or form part of any offer or invitation to sell or issue or any solicitation of any offer to purchase or subscribe for any securities in any jurisdiction, nor shall it (or any part of it) or the fact of its distribution, form the basis of or be relied upon in connection with, or act as any inducement to enter into, any contract or commitment or engage in any investment activity whatsoever relating to any securities.

The contents of this presentation have not been approved by any person for the purposes of section 21 of the Financial Services and Markets Act 2000, as amended ("FSMA"). Reliance on the presentation for the purpose of engaging in any investment activity may expose an individual to a significant risk of losing all of the property or other assets invested. Any person who is in any doubt about the subject matter to which the presentation relates should consult a person duly authorised for the purposes of FSMA who specialises in the acquisition of shares and other securities.

This presentation contains forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Certain forward-looking statements are based upon assumptions of future events which may not prove to be accurate. These forward-looking statements speak only as to the date of the presentation and neither the Company nor any of its members, directors, officers, employees, agents or representatives assumes any liability for the accuracy of such information, nor is the Company under any obligation to update or provide any additional information in relation to such forward-looking statements. Nothing in this presentation is, or should be relied upon as, a promise or representation as to the future.

Recipients of this presentation outside the United Kingdom should inform themselves about and observe any applicable legal restrictions in their jurisdiction which may be relevant to the distribution, possession or use of this presentation and recognise that the Company does not accept any responsibility for contravention of any legal restrictions in such jurisdiction. The Company's securities have not been and will not be registered under the United States Securities Act of 1933, as amended ("Securities Act"), or under the securities legislation of any state of the Unites States nor under the relevant securities laws of Australia, Canada, Japan or the Republic of South Africa and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable state securities laws.

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Introduction

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Longboat team

Ex-Faroe team has a proven track record of resource growth on the NCS

Executives		Non-Executives

Helge Hammer - Chief Executive Officer

• COO of Faroe Petroleum since entry into Norway in 2006 until 2019 sale
• Over 30 years' technical & business experience, incl. Shell (Norway, Oman, Australia and Holland) and Paladin Resources
• Petroleum Engineering degree (NTH University of Trondheim), Economics

degree (Institut Français du Pétrole, Paris)		Graham Stewart
		Non-Executive Chairman
Jonathan Cooper - Chief Financial Officer
 CFO of Faroe Petroleum from July 2013 until 2019 sale
 Formerly CFO at Gulf Keystone, Sterling Energy and Lamprell plc
 Former Director of the Oil and Gas Corporate Finance Team of Dresdner
Kleinwort Wasserstein
 PhD Mechanical Engineering (University of Leeds)
	Brent Cheshire CBE	Jorunn Saetre	Katherine Roe
Nick Ingrassia - Corporate Development Director
Senior Independent	Independent Non-	Independent Non-
 Group BD Head at Faroe Petroleum from 2017 until 2019 sale and	Non-Executive Director	Executive Director	Executive Director
remained with DNO as UK Country Head until 2020
 Prior BD roles at Valiant Petroleum, Salamander Energy
 Previously held banking roles with Morgan Stanley and RBS
 MA Hons Ancient History (University of St Andrews)

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Delivering energy responsibly

Longboat is committed to supporting the energy transition

Longboat is committed to delivering energy responsibly Corporate 'Net Zero' target (Scope 1 & 2) by 2050

• Exploration success crucial to reducing CO2/boe through maximising mature infrastructure

Norwegian commitment to decarbonisation, including:

• Hydroelectric power-from-shore projects to reduce offshore CO2 emissions
• World's first floating wind farm (Hywind Tampen) to power offshore platforms
• Northern Lights project providing open and flexible infrastructure for CO2 storage and sequestration

Actively contribute to Norwegian decarbonisation and 'Net Zero' targets

Longboat committed to upholding high standards of corporate governance

Strongly held principles of diversity and inclusion

Global CO2/boe Ranking

Global average

(18 kg/boe)

Source: NPD Exploration Resource report 2020

Emission Intensity for Gas Deliveries to the UK

Source: NPD Exploration Resource report 2020

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