Slides
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Half Year 2026 Results 9 September 2026
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2 Disclaimer This presentation contains certain forward-looking statements that are subject to the usual risk factors and uncertainties associated with the oil and gas exploration and production business. Whilst Energean believes the expectations reflected herein to be reasonable considering the information available to them at this time, the actual outcome may be materially different owing to factors beyond the Group's control or within the Group's control where, for example, the Group decides on a change of plan or strategy. The Group undertakes no obligation to revise any such forward-looking statements to reflect any changes in the Group's expectations or any change in circumstances, events or the Group's plans and strategy. Accordingly, no reliance may be placed on the figures contained in such forward-looking statements.
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Strong Operational Momentum into H2, with Production Exceeding 180 Kboe/d1 in August • Strong recovery since the re-start of production in Israel and increase in liquids revenues. • On track to deliver FY guidance of 130-140 Kboe/d2. • ~$1.4 billion Sorek GSPA signed, bringing total contracted revenues to ~$22 billion3. Egypt Merger Terms Agreed, New Investment Opportunities, Improved Payment Environment • Historical arrears settled, current dues paid regularly, net receivables at lowest ever level. • Egypt concession merger terms agreed, enhancing cash flow and unlocking new growth opportunities. • ~50 mmboe upside, >4 Tcf4 total exploration potential. Executing Next Phase of Growth, With Major Milestones Achieved • As operator, 2nd oil train commissioned, first Katlan heavy-lift completed, and two deepwater development wells drilled & completed. • ~9.5 Tcf4 Block 2 prospect drilling in Q2 2027. • Disciplined EMEA M&A evaluation, including in existing countries of operation. Net debt and Cost of Production Down, Free Cash Flow Up • Cash Cost of Production of $259m, down 5% YoY . • Free cash flow of $250m, up 35% YoY . • Net debt reduced by $97m during Q2 2026. • Q2 2026 dividend of $0.10/share declared today, scheduled to be paid on 30 September 2026. 3 +180 Kboe/d1 achieved. Multiple growth catalysts. Delivering long-term shareholder value. Highlights H1 2026 Highlights $743 million Total revenue from production activities $558 million Adjusted cash flow from operating activities $478 million Adjusted EBITDAX5 $250 million Free cash flow6 $0.40/share Dividends per share 124 Kboe/d H1 2026 production2 1. Average Group August 2026 production (including Cassiopea) was 165 Kboe/d and reflects the planned shutdown for the first Katlan heavy lift operation between 23 – 26 August 2026. 2. Production includes Cassiopea (2 Kboe/d net to Energean’s 40% working interest in H1 2026 and 8-months 2026; H1 2025: 6 Kboe/d). Production guidance excludes Cassiopea. 3. Annual Contracted Quantity revenue as at 1 January 2026, assuming a 2% annual increase in PT and CPI. 4. Internal estimate based on Pmean GIIP. Block 2 volumes shown before Energean’s 30% working interest. Pmean GIIP estimates are presented on an unrisked basis and therefore do not incorporate recovery factors or chance of success. 5. Adjusted EBITDAX is a non-IFRS measure used by the Group to measure business performance. 6. Free cash flow is defined as cash flow from operating activities less cash flow for investing activities.
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H1 2026 FINANCIAL REVIEW
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5 Financial Results (1/2) H1 2026 H1 2025 Increase/ (Decrease)% Gas sales volumes (kboe) 16,779 19,020 (12%) Liquids sales volumes (kboe) 3,391 3,794 (11%) Total sales volumes (kboe)1 20,170 22,814 (12%) Realised weighted average liquid price ($/boe)2 79.6 61.6 29% Realised weighted average gas price ($/mcf) 4.8 5.2 (8%) Gas sales revenues ($m)1 429 541 (21%) Liquids sales revenues ($m) 286 250 14% Other revenues from production activities ($m)1 28 13 133% Total revenue and other income ($m) 743 804 (8%) Increase in liquids revenues driven by higher realised liquids pricing in Israel, Italy, Egypt and the UK. Lower gas sales revenues driven by lower sales volumes in Israel and Italy (Cassiopea) compared to prior year. Other revenues for H1 2026 include other income from production activities related to Cassiopea (refer to Note 4 to the Group’s interim condensed consolidated financial statements). 14% year-on-year growth in liquids revenues partly offset the impact of the 41-day shutdown in Israel 1. Sales volumes are reported on a net entitlement basis in Egypt, exclude flux volumes in Italy, and exclude Cassiopea volumes from 1 October 2025 (refer to Note 30 in the Group’s Annual Report for the year ended 31 December 2025 and Notes 4 and 25 to the interim condensed consolidated financial statements). Accordingly, Cassiopea revenues in H1 2026 are presented within ‘Other revenue from production activities’, whereas in H1 2025 they were presented within ‘Revenue from gas sales’. 2. Realised liquids price excludes flux revenues in Italy.
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H1 2026 H1 2025 Increase/ (Decrease)% Cash cost of production including royalties ($m)1 259 272 (5%) Cash G&A ($m)2 21 21 - Adjusted EBITDAX ($m)3 478 505 (5%) Profit after tax ($m) 160 110 45% Adjusted cash flow from operating activities ($m)4 558 458 22% Capital expenditure ($m) (excludes decommissioning) 353 297 19% Decommissioning expenditure ($m) 4 31 (87%) Free cash flow ($m) 250 185 35% Dividend per share ($ per share) 0.40 0.60 (33%) 6 Financial Results (2/2) 162 175 97 97 0 50 100 150 200 250 300 H1 2026 H1 2025 Operating costs Royalties 3 325 278 25 21 4 31 0 100 200 300 400 H1 2026 H1 2025 Exploration Development Asset Integrity Decommissioning Cash Cost of Production ($m) Capital and decommissioning expenditure ($m) $259 $272 $357 $328 1. Cash Cost of Production is a non-IFRS measure that is used by the Group as a useful indicator of the Group's underlying cash costs to produce hydrocarbons. Refer the 'Financial Review' section in the Group's H1 2026 results for a reconciliation to 'cost of sales'. 2. Cash G&A is calculated as follows: administrative and distribution expenses, excluding depletion and amortisation of assets and share-based payment charge that are included in G&A. 3. Adjusted EBITDAX is a non-IFRS measure used by the Group to measure business performance. Refer the 'Financial Review' section in the Group's H1 2026 results for a reconciliation to 'profit after tax’. 4. Defined as cash flow from operating activities, as reported in the cash flow statement, adjusted for the prepayment received in 2025 and repayment made in 2026 to one of the Group's customers in Italy. Cash cost of production reduced, free cash flow increased (2)
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7 Resilient Cash Flow Generation Significant receivables collection combined with disciplined capital allocation and cost management 501 24 97 (25) (250) (129) (43) (74) (12) 227 315 H1 2026 movement in cash ($ million) 1. Cash position shown excluding restricted cash. Restricted cash at 31 Dec 2025: $103 million; 30 June 2026: $6 million. 2. Includes payment for purchase of property, plant and equipment & exploration and evaluation, and other intangible assets. 3. Includes proceeds from disposal of exploration and evaluation and other intangible assets, other investing activities and interest received.
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8 1. Calculated on YE25 2P reserves for LSE and OSE peers and YE25 1P reserves for NYSE and Nasdaq peers and 2025 W.I. average production. Source: 2025 financial accounts from: Aker BP, Antero Resources, APA Corporation, Capricorn, Diamondback Energy, EnQuest, Expand Energy, Harbour Energy, Ithaca Energy, Kosmos Energy, Murphy Oil, Seplat Energy, Serica Energy, Talos Energy, Tullow Oil and Var Energi. 2. Annual Contracted Quantity revenue as at 1 January 2026, assuming a 2% annual increase in PT and CPI. 3. Calculated as of 30 June 2026. 4. Not including hedging effects. As at 30 June 2026, ~30% linked to floating rates. Capital Structure Balance Sheet Supported by Long-Life, Majority Contracted Cash Flows Structural cash flow protections 18-year reserves life ~2X greater than LSE, OSE, NYSE and Nasdaq peer average1 c.$22 billion2 contracted revenues Long-term gas contracts in Israel and Egypt Floor pricing protections and take-or-pay / exclusivity Debt maturity profile 0 200 400 600 800 1000 1200 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 $ million Energean Israel Senior Secured Notes Energean PLC Senior Secured Notes Greek State-Backed Loan Revolving Credit Facility (RCF) Term Loan Third-Party Facility Nitzana Term Loan Facility 30 Jun '26 31 Mar '26 31 Dec '25 Net Debt – Consolidated ($ million) 3,227 3,325 3,255 Leverage (Net Debt / L12M Adjusted EBITDAX) 3.0 3.2 2.9 No near-term maturities Expects to refinance 2028 Notes; evaluating a range of options • Current3 weighted average maturity: ~5 years • Current3 weighted average cost of debt4: ~7% Expects to refinance 2028 Notes
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9 2026 Guidance FY26 Guidance1,2 PRODUCTION Israel (kboed) 98 – 1043 Rest of portfolio (kboed) 32 – 36 Total production (kboed) 130 – 140 CASH COST OF PRODUCTION (OPERATING COSTS PLUS ROYALTIES) Israel ($ million) 310 – 330 (includes 190 – 205 royalties) Rest of portfolio ($ million) 200 – 220 (includes 10-15 royalties and 30-35 of flux in Italy) Total Cash Cost of Production ($ million)4 510 – 550 (includes 200 – 220 royalties) Cash G&A ($ million) 35 – 40 CAPITAL EXPENDITURE AND DECOMMISSIONING Israel ($ million) 700 – 750 Rest of portfolio ($ million) 100 – 110 Total development & production ($ million)5 800 – 860 Exploration expenditure ($ million) 5 – 10 (previously 10 – 15) Decommissioning spend ($ million) 40 – 50 (previously 50 – 60) Consolidated net debt ($ million) 3,250 – 3,350 1. Guidance excludes Cassiopea. 2. Development and production capital expenditure, exploration expenditure and decommissioning expenditure guidance are presented on an accrual basis and not on a cash basis. 3. Includes 4.7-4.9 bcm of gas. SCM to BOE conversion factor for Israel used is 153.78. 4. Note that flux in Italy is not reflected in the production guidance but is included in sales revenue actuals. 5. Guidance excludes $70-75 million of contingent Prinos Carbon Storage expenditure which is expected to be funded by grants. All 2026 guidance reiterated, except for exploration and decommissioning expenditure, both of which have been reduced
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H1 2026 OPERATIONAL REVIEW
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Focus on HSE Underpinning all Operations H1 2026 8.3 0.408 0.242 0.408 0.000 8.1 H1 2025 H1 2026 H1 2025 H1 2025 H1 2026 (100%) (41%) (2%) 11 1. Number of LTIs and TRIRs for employees and contractors at Energean-operated sites and premises per million hours worked. 2. Scope 1 and 2 emissions. On an equity share basis. Total Recordable Injury Rate (TRIR)1 Emissions Intensity (kgCO2e/boe)2 Lost Time Injury Frequency (LTIF)1 Committed to safe and responsible operations at all times
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Group Production Exceeded 180 Kboe/d1 in August 2026 12 Remains on track to deliver full year production of 130 – 140 Kboe/d Group Average W.I. Production H1 2026 124 Kboe/d2 8 months to 31 August 2026 135 Kboe/d2 FY 2026 outlook 130 – 140 Kboe/d 1. Average Group August 2026 production (including Cassiopea) was 165 Kboe/d and reflects the planned shutdown for the first Katlan heavy lift operation between 23 – 26 August 2026. 2. Production includes Cassiopea (2 Kboe/d net to Energean’s 40% working interest in H1 2026; H1 2025: 6 Kboe/d; 8-months to 31 August 2026: 2 Kboe/d). 87 104 94 87 98 98-104 25 31 29 27 27 11 11 15 10 11 32-36 123 146 138 124 135 130-140 0 20 40 60 80 100 120 140 160 H1 2023 H1 2024 H1 2025 H1 2026 End-August 2026 FY 2026E Kboe/d Israel Egypt Europe Egypt and Europe (H1 2025: 138 Kboe/d), down 10% due to: • Ministry ordered suspension of production in Israel for 41-days due to regional conflict. • Cassiopea (non-operated) production under-performance. Production has recovered strongly: • August production reached levels over 180 Kboe/d1. • Robust summer gas demand in Israel, completion of second oil train, coupled with strong performance across operated assets. Full year guidance reiterated.
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13 Israel – Second Oil Train Completed Increasing Brent-linked liquids output 1. Liquids production averaged 10 kbbl/d in H1 2026 and, in line with Energean's 2026 guidance, is expected to average 17-21 kbbl/d in H2 2026. 2. H1 2026 average realised liquids price in Israel: $82.9/bbl. 3. Leviathan and Tamar liquids production data sourced from NewMed Energy and Tamar Petroleum’s Q2 2026 reports, respectively. from 18 kbbl/d to 31 kbbl/d FPSO total liquids processing capacity increased Liquids production successfully tested at rates of 25 kbbl/d H2 2026 average liquids production expected to increase 70% - 110%1 Israel’s largest liquids producer 3x greater than Leviathan and Tamar combined3 32% Of H1 2026 Israel revenues from liquids $88.4/bbl Q2 2026 Israel realised liquids price2
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0 5 10 15 20 25 30 2026 2028 2030 2032 2034 2036 2038 2040 2042 2044 Bcm Electricity Transportation Industry 14 New ~$1.4 Billion GSPA Signed With Sorek Brings total contracted revenues to $22 billion1 over the next two decades; demonstrates strength of domestic gas demand outlook >10 Bcm Gas Demand Growth2 Expected over the next two decades Driven by long-term growth in electricity consumption Sorek, Kesem and Dalia II expected online around the end of the decade >10 bcm of demand growth over 2 decades For Sorek’s new H-class power station 1. Annual Contracted Quantity revenue as at 1 January 2026, assuming a 2% annual increase in PT and CPI. 2. Source: BDO. New ~$1.4 billion GSPA All major new power stations contracted >10 Bcm gas demand growth ~80% of gas demand growth Energean Power FPSO Kesem Nitzana Existing Major Gas Customers Dalia II Sorek $22 Billion1 Long-Term Contracted Revenues 90 km
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15 2026 progress and path to first gas Subsea campaigns 1 & 2 Complete M01 & M091 FPSO installation Complete (Aug 2026) Athena & Zeus development wells drilling Complete (Sep 2026) Subsea campaigns 3 & 4 & commissioning H2 2026 – H1 2027 First gas, Athena & Zeus 26 Bcm2 H1 2027 M04 & M061 FPSO installation 2027 Apollo & Hera development wells drilling 11 Bcm2 2027 Katlan Development – Major Milestones Complete Katlan phase 1A on track and on budget for first gas in H1 2027, Katlan phase 1B drilling in 2027 1. M01: Inlet Heaters; M09: E-House (LER/LIR); M04: MEG Reclamation Unit (MRU); M06: Fired Heaters Module. 2. Includes, per D&M YE25 CPR, Athena, Zeus and Hera 2P reserves and Apollo 2U Pmean (prospective resources). Tanin (I/16) Katlan (I/21) Karish (I/17) Karish North Karish Main Cronus Tanin A Tanin B Tanin C Ares Dionysus Artemis Perseus Hera Zeus Apollo Achilleus Athena Belus Legend Producing Fields Katlan Phase 1A Katlan Phase 1B
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16 Next Phase of Growth New exploration bid round announced, aiming to build on our track record of exploration success in Israel Existing leases and licenses OBR51 offered zones Energean acreage Key Milestones Bid submission deadline November 2026 Successful bid announcements and execution Q1 2027 Prequalification of operators September 2026 1. Offshore Bid Round.
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17 Egypt — Highest Ever Half Year of Collections; Lowest Ever Net Receivables 0 50 100 150 200 250 2020 2021 2022 2023 2024 2025 2026 H1 collection H2 collection Improved payment environment - 50 100 150 200 250 300 Net overdue Not yet due Net receivables 226 Receivables collection ($ million) Net overdue ($ million) 75 17
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Target to double production and reserves Unlocks additional exploration acreage 18 Egypt — Concession Merger Agreed, Unlocking Growth Enhances cash flow generation Parliament ratification expected by mid-2027, concession merger terms effective from 1 Jan 2027 • Abu Qir, NEA and North Idku to be merged into one concession • Improved fiscal terms and gas price • Initial $150 million committed investment over next four years • Target to develop in aggregate ~50 mmboe • New acreage unlocked, including in the deep horizon • >4 Tcf1 exploration potential in total, including ~3 Tcf1 of gas in aggregate in the deep horizon 1. Internal estimate includes prospectivity on existing licences and is based on Pmean Gas Initially In Place (“GIIP”). Pmean GIIP estimates are presented on an unrisked basis and therefore do not incorporate recovery factors or chance of success. 2. Includes new deep exploration acreage under current concession. New exploration acreage Abu Qir2 NEA-NI
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19 Block 2 — 9.5 Tcf Prospect To Be Drilled In Q2 2027 Partnering with ExxonMobil to drill Greece's first deepwater exploration well in 45 years 1. Internal unrisked Gross (100%) GIIP estimate (1.64 bnboe equivalent). Energean has a 30% working interest in the Block 2 licence. Pmean GIIP estimates are presented on an unrisked basis and therefore do not incorporate recovery factors or chance of success. Block 2 Exploration Drilling ● Energean 30% W.I., ExxonMobil 60% W.I., HELLENiQ Energy 10% W.I. ● Energean retains operational control of the exploration, reflecting our excellent drilling track record ● Exploration well to be drilled in Q2 2027, first deepwater well since 1981 in Greece ● Unrisked Gross (100%) GIIP of 9.5 Tcf1, equivalent to 1.64 bnboe Block 2
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20 Europe – Operating Across the Full Life Cycle Operated activity spanning exploration, development, production and decommissioning 1. Includes non-operated assets, excluding Cassiopea. 2. Estimate as of 30 June 2026 and includes both Energean UK and Energean Exploration. £334 million in RFCT losses, £322 million in SC losses and £58 million in EPL losses. Italy operated production Stable year-on-year, producing ~8 Kboe/d1 in line with budget Epsilon development 27 mmboe 2P oil project (YE25) Irena development First gas expected in H1 2027 + additional exploration via Izabela-9 UK decommissioning Garrow and Kilmar platforms safely removed + tax losses of £715 million2
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OUTLOOK
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22 M&A – Disciplined Approach to Delivering Transformational M&A Actively assessing opportunities to diversify our production base, enhance cash flow and support deleveraging Assets EMEA growth, including existing operating countries, with supportive fiscal regimes, operated, gas-weighted and offshore. Strategy Deploy Energean’s deepwater development and operating track record in producing assets and de- risked undeveloped resources. Goals Diversify production, build a new core hub, increase cash flow. Discipline Strict capital allocation: leverage-neutral or better.
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23 Gas Liquids 10 Kboe/d2 87 Kboe/d2 27 Kboe/d2 Resilient Production Base And A Clear Growth Strategy Underpin The Next 18 Months H1 2026 W.I. production 124 Kboe/d2 1. Guidance excludes Cassiopea. Average Group August 2026 production (including Cassiopea) was 165 Kboe/d and reflects the planned shutdown for the first Katlan heavy lift operation between 23 – 26 August 2026. 2. Group Production = 124 Kboe/d; Israel = 87 Kboe/d; Egypt = 27 Kboe/d; Europe = 10 Kboe/d. Includes Cassiopea. 3. Energean has a 30% working interest in the Block 2 licence. Pmean GIIP estimates are presented on an unrisked basis and therefore do not incorporate recovery factors or chance of success. 1 Full-year production of 130–140 Kboe/d1, with August already above 180 Kboe/d1 — momentum building into H2. 2 Signing of Egypt concession merger and a new $150m investment program — targeting a doubling of Egypt production and reserves, plus material exploration upside. 3 Katlan first gas in H1 2027 — expected step-change in EBITDAX margin and inflection point on capex. 6 Q2 2026 dividend of $0.10/share declared, to be paid on 30 September 2026 — focused on shareholder returns. 7 Targeting transformational EMEA M&A opportunities in existing core countries and West Africa. 4 Block 2 drilling in Q2 2027 — ~9.5 Tcf gross gas3, Greece’s first deepwater well in 45 years. 5 Focused on deleveraging and increasing free cash flow.
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APPENDIX SUPPLEMENTAL FINANCIALS For H1 2026
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25 Group Total Comprehensive Income Statement H1 2026 Items that may be reclassified subsequently to profit or (loss) Net investment hedge - - Cashflow hedges – (loss)/ gain recognised in OCI, net of tax (529) 28,789 Exchange difference on the translation of foreign operations, net of tax 2,457 36,407 Items that will not be reclassified subsequently to profit or (loss) Remeasurement of defined benefit plan (1) - Other comprehensive profit after tax 1,927 65,196 Total comprehensive profit for the period 161,564 175,680 30 June 2026 $'000 30 June 2025 $'000 Revenue 743,072 803,780 Cost of sales (428,580) (469,078) Gross profit 314,492 334,702 Other operating income 13,017 33,593 General and administrative expenses (29,960) (27,541) Change in decommissioning provision (2,402) (3,927) Exploration and evaluation expenses and new ventures (7,084) (4,271) Expected credit loss reversal/ (expense) 4,134 (2,205) Other operating expenses (983) (1,292) Operating profit 291,214 329,059 Finance income 2,983 3,202 Finance costs (121,421) (128,276) Net income/(loss) on derivatives 117 (2,983) Net foreign exchange gain/ (loss) 5,519 (26,853) Profit before tax 178,412 174,149 Taxation expense (18,775) (63,665) Profit for the period after taxation 159,637 110,484
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26 Group Statement of Financial Position (1/2) H1 2026 30 June 2026 $'000 31 December 2025 $'000 ASSETS Non-current assets 4,861,972 4,694,273 Property, plant and equipment 4,395,966 4,250,419 Intangible assets 256,969 249,220 Equity-accounted investments 4 4 Other receivables 28,726 30,861 Derivative financial instruments 239 3,931 Deferred tax assets 176,820 156,493 Restricted cash 3,248 3,345 Current assets 741,693 895,017 Inventories 111,187 94,193 Trade and other receivables 294,619 451,822 Derivative financial instruments 18,237 22,390 Restricted cash 2,460 99,399 Cash and cash equivalents 315,190 227,213 Total Assets 5,603,665 5,589,290
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27 Group Statement of Financial Position (2/2) H1 2026 30 June 2026 $'000 31 December 2025 $'000 EQUITY AND LIABILITIES Equity attributable to owners of the parent Share capital 2,465 2,459 Share premium 465,331 465,331 Merger reserve 139,903 139,903 Other reserves 20,187 26,231 Foreign currency translation reserve (6,316) (8,773) Share-based payment reserve 53,232 49,340 Retained earnings (446,978) (532,869) Total Equity 227,824 141,622 Non-current liabilities 4,457,894 4,317,068 Borrowings 3,529,965 3,355,741 Deferred tax liabilities 149,476 145,110 Retirement benefit liability 1,534 1,704 Provisions 751,239 777,804 Trade and other payables 25,680 36,709 Current liabilities 917,947 1,130,600 Trade and other payables 774,828 780,062 Current portion of borrowings 18,346 229,005 Current tax liability 3,302 8,449 Provisions 121,471 113,084 Total Equity and Liabilities 5,603,665 5,589,290
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28 Group Statement of Cash Flows (1/2) H1 2026 30 June 2026 $'000 30 June 2025 $'000 Operating activities Profit before taxation 178,412 174,149 Adjustments to reconcile profit before taxation to net cash provided by operating activities: Depreciation, depletion and amortisation 189,138 194,431 Impairment (reversal)/loss on exploration and evaluation assets - (656) Change in decommissioning provision estimates 2,402 3,927 Defined benefit (gain)/loss (162) 10 Movement in other provisions (1,864) (829) Expected credit loss (reversal)/expense on trade receivables (4,134) 2,205 Other income and expenses, net (10,223) (1,270) Finance income (2,983) (3,202) Finance costs 121,421 128,276 Non-cash revenues from Egypt (16,526) (12,957) Share-based payment charge 3,898 3,678 Net (income)/loss on derivative instruments (1,721) 2,983 Net foreign exchange loss (5,519) 26,853 Working capital adjustments: (Increase)/decrease in inventories (18,242) 17,279 Decrease/(increase) in trade and other receivables 174,377 (17,110) (Decrease)/increase in trade and other payables (107,196) 147,591 Cash flow from operations 501,078 665,358 Income tax paid (25,403) (110,460) Net cash inflow from operating activities 475,675 554,898
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29 Group Statement of Cash Flows (2/2) H1 2026 30 June 2026 $'000 30 June 2025 $'000 Investing activities Payment for purchase of property, plant and equipment (220,129) (331,109) Payment for exploration and evaluation, and other intangible assets (29,944) (53,412) Proceeds from disposal of exploration and evaluation and other intangible assets 20,423 668 Other investing activities (116) 9,500 Interest received 3,827 4,160 Net cash outflow for investing activities (225,939) (370,193) Financing activities Drawdown of borrowings 115,000 238,000 Repayment of borrowings (158,000) (33,000) Movement in restricted cash 96,939 (834) Dividend Paid (73,746) (110,267) Repayment of obligations under leases (12,494) (9,191) Finance costs paid (129,354) (121,599) Net cash outflow for financing activities (161,655) (36,891) Net increase in cash and cash equivalents 88,081 147,814 Cash and cash equivalents at beginning of the period 227,213 235,270 Effect of exchange rate fluctuations on cash held (104) 17,566 Cash and cash equivalents at end of the period 315,190 400,650