Reabold Resources : Corporate Presentation Nov 2022

Reabold corporate presentation

November 2022

Disclaimer

These Presentation Materials do not constitute or form part of any invitation, offer for sale or subscription or any solicitation for any offer to buy or subscribe for any securities in the Company nor shall they or any part of them form the basis of or be relied upon in any manner or for any purpose whatsoever.

These Presentation Materials must not be used or relied upon for the purpose of making any investment decision or engaging in an investment activity and any decision in connection with a purchase of shares in the Company must be made solely on the basis of the publicly available information. Accordingly, neither the Company nor its directors makes any representation or warranty in respect of the contents of the Presentation Materials.

The information contained in the Presentation Materials is subject to amendment, revision and updating in any way without notice or liability to any party. The presentation materials may contain forward-looking statements which involve risk and uncertainties and actual results and developments may differ materially from those expressed or implied by these statements depending on a variety of factors. No representation or warranty, express or implied, is made as to the fairness, accuracy or completeness of the information or opinions contained herein, which have not been independently verified. The delivery of these Presentation Materials shall not at any time or in any circumstance create any implication that there has been no adverse change, or any event reasonably likely to involve any adverse change, in the condition (financial or otherwise) of the Company since the date of these Presentation Materials.

The Presentation Materials are confidential and being supplied to you for your own information and may not be reproduced, further distributed, passed on, or the contents otherwise divulged, directly or indirectly, to any other person (except the recipient's professional advisers) or published, in whole or in part, for any purpose whatsoever. The Presentation Materials may not be used for the purpose of an offer or solicitation to subscribe for securities by anyone in any jurisdiction.

Introduction

• the Reabold business model and strategy

• Reabold Resources is an investor in near-term, high growth energy projects where an injection of our capital facilitates activity and drives an uplift in realisable value
• Reabold's distinctive approach
• • We identify oil & gas assets at the appraisal stage where there is a clear value creation opportunity between the investment required to progress the asset and the asset's value at the point of monetisation
  • We invest in and provide modest funding for a diverse range of low risk, high impactprojects with near term catalysts to create value
  • We are disciplined in our exit routesand consider selling assets prior to full project development, in order to maximise the value of the whole Reabold portfolio
• A small executive team with significant investment experience in oil and gas projects, company evaluation and commercial industry expertise. Specific technical skills insourced where required
• Listed on AIM with a highly qualified Board of Directors who bring significant listed oil and gas experience skills, oversight and transparency
• Conservative financial management

Disciplined, distinctive and transparent approach

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Our strategy in action - invest, develop, sell, recycle

- sale of Corallian a useful case study

Strict investment criteria drives our portfolio potential

We focus on:

Geology

• Projects that are substantially de-risked from a technical perspective due to previous drilling
• Existing regional production with historic discovery wells in place, low geopolitical risk
• As projects are low cost, they typically exhibit materially lower carbon intensity than the industry average

Economics of investment

• Focus on low capex, fast cycle with rapid monetization, Non-operator model keeps cost low

Disciplined exit

• Very important - bespoke to each project and asset, with focus on the redistribution of the capital

Sale of Corallian to Shell plc - significant value uplift and redistribution

• Sale of Corallian and its Victory licence for a total of £32 million; Reabold's share of net proceeds £12.7 million
• Victory asset valuation a significant uplift on Reabold's total investment of £7.5 million in Corallian
• Acquisition of North Sea licences from Corallian for very attractive price £250,000
• Quality of counter-party reflects Reabold management's strong capabilities in identifying, advancing and monetising undervalued, strategic assets
• Reabold committed to return £4 million to shareholders post receipt of second tranche of Corallian proceeds

We aim to repeat this across our portfolio of assets

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The Reabold portfolio - November 2022

• operational progress and corporate activity has shifted the portfolio focus

Reabold portfolio today

West Newton (UK onshore oil & gas)

• 56% economic ownership of key UK onshore project
• Potentially one of the largest UK conventional onshore oil and gas discoveries
• CPR published
• Conceptual development plan now under way with first development well expected to be drilled in H1 2023

Reabold North Sea (UK offshore oil & gas)

• Six North Sea licences acquired from Corallian in May 2022
• Similar development potential to Victory licence
• Low to moderate geological risk and nearby infrastructure

Simwell Resources South North Sea (acq Sept 2022)

• Exposure to 4 licences offshore Newcastle. Shell drilling Q4 nearby Pensacola prospect. Success here could derisk a number of prospects in licence P2332

Reabold North Sea

West Newton

PEDL 183

Reabold California

Danube Petroleum

Reabold stake in Daybreak Oil & Gas (California USA)

• 42% ownershipof listed, OTC traded company

• Self funded business with opportunity for capital appreciation
• Proven abilityto raise external capital to fund development

opportunities

Danube Petroleum (Romania onshore oil & gas)

• £5m invested to date for 50.8% ownership
• Danube holds a 100% interest in the Parta licence in Western Romania
• Formulation of work programme and farm out opportunities under way

Compelling opportunities forinvestment in existingand new assets

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