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Vaalco ENERGY Q2 2026 Supplemental Information Profitably and Sustainably Growing Value August 2026
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Vaalco Energy 2 Vaalco Energy 2 Safe Harbor Statement Forward Looking Statements Safe Harbor This presentation of VAALCO Energy, Inc. (“Vaalco” or the “Company”) includes “forward -looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act o f 1934, as amended, which are intended to be covered by the safe harbors created by those laws and other applicable laws and “f orward-looking information” within the meaning of applicable Canadian securities laws (collectively, “forward -looking statements”). Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. All statements other than statements of histori cal fact may be forward-looking statements. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “forecast,” “outlook,” “ai m,” “target,” “will,” “could,” “should,” “may,” “likely,” “plan” and “probably” or similar words may identify forward -looking statements, but the absence of these words does not mean that a statement is not forward -looking. Forward-looking statements in these materials include, but are not limited to, statements relating to (i) estimates of future drilling, production, sales and costs of acquiring crude oil, natural gas and natural gas liquids; (ii) expectations regarding future exploration and the development, growth and potential of Vaalco’s operations, project pipeline and investments, and schedule and anticipated benefits to be deri ved therefrom; (iii) expectations regarding future acquisitions, investments or divestitures; (iv) expectations of future dividen ds; (v) expectations of future balance sheet strength; and (vi) expectations of future equity and enterprise value. Such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward -looking statements. These risks and uncertainties include, but are not limited to: risks relating to any unforeseen liabilities of Vaalco; the ability to generate cash flows t hat, along with cash on hand, will be sufficient to support operations and cash requirements; risks relating to the timing and c osts of completion for scheduled maintenance of the floating, production, storage and offloading (“FPSO”) servicing the Baobab field; and the risks described under the caption “Risk Factors” in Vaalco’s most recent Annual Report on Form 10- K filed with the SEC and any subsequent Quarterly Reports on Form 10-Q filed with the SEC. Any forward -looking statement made by Vaalco in this presentat ion is based only on information currently available to Vaalco and speaks only as of the date on which it is made. Except as may be required by applicable federal securities laws, Vaalco undertakes no obligation to publicly update any forward -looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise. Dividends beyond the third quarter of 2026 have not yet been approved or declared by the Board of Directors (the “Board”) for Vaalco. The declaration and payment of future dividends remains at the discretion of the Board and will be determined based on Vaalco’s financial results, balance sheet strength, cash and liquidity requirements, future prospects, crude oil and natural gas prices, and other factors deemed relevant by the Board. The Board reserves all powers related to the declaration and payment of dividends. Consequently, in determining the dividend to be declared and paid on Vaalco common stock, the Board may revise or terminate the payment level at any time without prior notice. Non-GAAP Financial Measures: This presentation contains certain non -GAAP financial measures determined by methods other than in accordance with U.S. generally accepted accounting principles (“GAAP”). Vaalco uses non -GAAP financial measures, including “Adjusted EBITDAX” and “Adjusted Net Income,” as useful measures of Vaalco’s core operating and financial performan ce and trends across periods. These non-GAAP financial measures have limitations as analytical tools and should not be viewed as a substitute for financial results determined in accordance with GAAP, nor are they necessarily comparable to non -GAAP performance measures that may be presented by other companies. Reconciliations of these non -GAAP financial measures to the most directly comparable GAAP financial measures are included at the end of this presentation or in the Q2 2026 earnings release. Oil and Natural Gas Reserves: This presentation contains crude oil and natural gas metrics which do not have standardized meanin gs or standard methods of calculation as classified by the SEC and therefore such measures may not be comparable to similar measures used by other companies. Such metrics have been included herein to provide readers with additional measures to eval uate Vaalco; however, such measures may not be reliable indicators of future performance. WI CPR Reserves: WI CPR reserves represent proved (1P) and proved plus probable (2P) estimates as reported by NSAI and GLJ and prepared in accordance with the definitions and guidelines set forth in the 2018 Petroleum Resources Management Systems approved by the Society of Petroleum Engineers. The SEC definitions of proved and probable reserves are different from the definitions contained in the 2018 Petro leum Resources Management Systems approved by the Society of Petroleum Engineers. As a result, 1P and 2P WI CPR reserves may not be comparable to United States standards. The SEC requires United States oil and gas reporting companies, in their filing s with the SEC, to disclose only proved reserves after the deduction of royalties and production due to others but permits the o ptional disclosure of probable and possible reserves in accordance with SEC definitions. 1P and 2P WI CPR reserves, as disclosed herein, may differ from the SEC definitions of proved and probable reserves because: Pricing for SEC is the average closing price on the first trading day of each month for the prior year which is then held flat i n the future, while the 1P and 2P WI CPR pricing assumption was $65.00 per barrel of oil beginning in 2026, $70.00 in 2027, and inf lating 2% thereafter; and Lease operating expenses are typically not escalated under the SEC’s rules, while for the WI CPR reser ves estimates, they are escalated at 2% annually beginning in 2027. In addition, Vaalco uses terms in this presentation, includi ng “2C” that SEC guidelines strictly prohibit Vaalco from including in its SEC filings. 2C is a best estimate scenario of “conti ngent resources”; that is, quantities of petroleum potentially recoverable from known accumulations by the application of developme nt projects not currently considered to be commercial owing to one of more contingencies. Prospective resources are those quanti ties of petroleum estimated, as of a given date, to be potentially recoverable from undiscovered accumulations by application of f uture development projects. These estimates are by their nature are more speculative than estimates of proved, probable and possibl e reserves that meet the SEC’s definitions of such terms and are subject to substantially greater risk of being realized. Management uses 1P and 2P WI CPR reserves and 2C resources as a measurement of operating performance because it assists manag ement in strategic planning, budgeting and economic evaluations. Management believes that the presentation of these metrics is useful to its international investors, particularly those that invest in companies trading on the London Stock Exc hange, in order to better compare reserve information to other London Stock Exchange -traded companies that report similar measures. However, these metrics should not be used as a substitute for proved reserves calculated in accordance with the definitions p rescribed by the SEC. In evaluating Vaalco’s business, investors should rely on Vaalco’s SEC proved reserves and other oil and n atural gas disclosures included in Vaalco’s latest Form 10- K and other reports and filings with the SEC and consider 1P and 2P WI CPR r eserves and 2C resources only supplementally. Investors are cautioned when viewing BOEs in isolation. BOE conversion ratio is based on an energy equivalency conversion met hod primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalencies d escribed above, utilizing such equivalencies may be incomplete as an indication of value.
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Vaalco Energy 3 Affirmed Elevated FY26 Production and Sales Guidance, While Maintaining CapEx Guidance Flat • a • FY26 NRI production and sales guidance raised in May by 8% and 12%, respectively at the midpoint • 2026 Capex guidance remains unchanged even with additional drilling in Egypt included • Q3’26 production guidance up 23% over Q2’26, with Côte d’Ivoire liftings resuming in August 2026 Q2 2026 Highlights Invested $103.6 Million in Capital Expenditures (Cash Basis), Primarily in Gabon, Egypt and Côte d’Ivoire • a • Successfully drilled and completed multiple wells in Gabon boosting Q2’26 production • Egypt drilling began in May 2026 with the HE-9 well; multiple wells drilled and completed in June and July • Baobab FPSO reconnected and Côte d’Ivoire production restarted in June 2026; 1st 2026 lifting in August • Preparing for upcoming drilling campaign in Côte d’Ivoire with drilling to start in September 2026 Q2 2026 Supplemental Information: Profitably and Sustainably Growing Value August 2026 Reported Strong Operational and Financial Results • a • Q2’26 NRI sales of 17,812 BOEPD were above the midpoint of guidance, up 47% from Q1’26 • Reported $42.4 million of Net Income ($0.39 per diluted share) and $54.8 million in Adjusted EBITDAX • Restarted production in June 2026 at the Baobab field in offshore Côte d’Ivoire, as planned • Production in Q2’26 was 21,796 WI BOEPD an increase of 10% compared to Q1’26
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Vaalco Energy 4 $30 $123 Cash at 6/30/26 Availability Under Credit Facility Solid Financial Foundation Generating Strong Adjusted EBITDAX and Returned >$130MM Cash to Shareholders Since 2021 Adjusted EBITDAX & Net Income (US$ millions) Returning Cash to Shareholders (US$ millions) Liquidity (US$ millions) $61.7 $72.5 $92.8 $76.2 $57.0 $49.9 $23.7 $42.9 $11.6 $54.8 $0.00 $10.00 $20.00 $30.00 $40.00 $50.00 $60.00 $70.00 $80.00 $90.00 $100.00 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 $12.0 $6.5 $6.5 $6.5 $6.5 $6.5 $6.5 $6.5 $6.7 $6.7 $6.7 $0.00 $2.00 $4.00 $6.00 $8.00 $10.00 $12.00 $14.00 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 (2) (1) 1) Facility commitments were increased in January 2026 to $255 million and in April 2026 to $300 million, with $177 million draw n at 6/30/26. An additional $40 million was drawn in July 2026. 2) $30 million share buy back program concluded in Q1 2024. 3) Net income (loss), the most directly comparable GAAP measure, was $42.4 million in Q2’26, $(93.8) million in Q1’26 and $8.4 m illion in Q2’25. See Reconciliations of Non- GAAP Measures. FPSO refurbishment at Baobab, no sales in Côte d’Ivoire after February 2025, sales resume in Q3 2026 No partner liftings in Gabon in Q3’25 and Q1’26 Q2 2026 Supplemental Information: Profitably and Sustainably Growing Value August 2026
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Vaalco Energy 5 $48.0 $30.4 $73.7 $103.6 $25.0 $6.7 $6.0 $- $20.0 $40.0 $60.0 $80.0 $100.0 $120.0 $140.0 Cash at March 31, 2026 Cash from Operations Capital Expenditures (Cash) Debt Drawn Dividends Other, net Cash at June 30, 2026 Cash Flow Movement and Hedging Slide 5 Cash Movement March 31, 2026 to June 30, 2026 (US$ millions) Hedging Positions as of June 30, 2026 (As of June 30, 2026) Q2 2026 Supplemental Information: Profitably and Sustainably Growing Value August 2026 8,446 7,522 7,478 6,198 2,011 $55 $60 $65 $70 $75 $80 $85 $90 $95 $100 $105 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 Q3 2026 Q4 2026 Q1 2027 Q2 2027 Q3 2027 Hedged Volumes (Bbls/d) Wtd Avg Floor Wtd Avg Ceiling › Q3’26 hedged volumes are ~47% of quarterly NRI sales guidance at the midpoint; Q4’26 ~40% of implied full year guidance › Dated Brent collars in place at 6/30/26; additional 2027 collars and puts were entered into subsequent to June 30, 2026 Note: Daily volumes calculated using quarterly hedged volumes divided by actual days in each quarter
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Vaalco Energy 6 Strategically Expanding Our Diversified African-Focused Portfolio Building Scale and Diversification with a Full-cycle, Low-risk, High Return Portfolio › Full-cycle portfolio with material production and cash flows › Critical mass of operations with running room for growth › Highly capable subsurface/technical, operational and business development teams supporting growth A Growing, Diversified Footprint in Africa Non-Operated Operated Operated Operated 21,796 BOEPD WI Production 100% / 0% / 0% Oil NGL Gas 1,621 MBOE NRI Sales $103.6 million Capex (cash basis) Q2 2026 Metrics Organic Growth Opportunities Côte d’Ivoire FPSO maintenance and upgrade, coupled with Phase 5 drilling Gabon Phase Three drilling campaign Egypt Continued high return workovers and recompletions, with planned 12 well drilling program Equatorial Guinea FEED study completed; FID targeted in Q4 2026 with potential drilling post 2026 Q2 2026 Supplemental Information: Profitably and Sustainably Growing Value August 2026
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Vaalco Energy 7 CI40 Baobab Field › Baobab Ivoirien FPSO reconnected to field infrastructure; production restarted in June 2026, as planned, with first lifting anticipated to occur in August 2026 › Phase Five Drilling Campaign expected to commence in late September 2026 › Phase Five capital allocation will include a mix of producing (4), injection (2 or 3), and workover (2) wells › Well positioned with multiple prospect areas to capitalize on explosive growth in the basin CI 40 Kossipo FEED › Vaalco (60%) confirmed as operator with partner PetroCI (40%) › Field development plan expected to be completed in the first half of 2027 › New OBN seismic data driving and derisking Vaalco’s updated evaluation and development plans › Gross 2C resources of 102.1 MMBOE, first oil expected 2030(1) CI-705 License Extension Evaluation › Operator with a 70% working interest › Block technical evaluation underway; lead/prospect portfolio build currently underway 1) Based on management’s assumptions as of 12/31/2025. Please read the information set forth under the header “Oil and Natural Gas Reserves” in the Safe Harbor Statement at the beginning of this presentation. Vaalco’s Material Asset Base in Côte d’Ivoire High-Quality Infrastructure Drives Asset Development Q2 2026 Supplemental Information: Profitably and Sustainably Growing Value August 2026 U. Cretaceous Lead 40 km
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Vaalco Energy 8 Key Highlights › Significant oil discovery ready to develop with nearly 293 MMBOE in Place located 8km SW of Baobab Field › Field was discovered in 2002 and later appraised in 2019 › Kossipo-1X drilled in 2002; Kossipo-2A appraisal well drilled in 2019 › Subsea development planned with FDP completion expected in 1H’27 › Ocean Bottom Node Seismic acquired in 2024 › Waveform Inversion processing completed January 2026 with significant improvement over previous Streamer data › Oil Water Contact identified in wells visible on OBN seismic confirming accumulation size › New Field Modeling Underway › Updated seismic interpretation underway › Regional reservoir study underway to assess flow behavior expectations › Static and Dynamic Modeling to inform FDP and well designs Kossipo-1X Kossipo-2A SW NE Oil-Water Contact Kossipo Discovery Enhances Asset Development Pipeline Seismic Results Indicate New Prospect of Growth in Dynamic Côte d’Ivoire Portfolio Q2 2026 Supplemental Information: Profitably and Sustainably Growing Value August 2026
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Vaalco Energy 9 Côte d’Ivoire Update Baobab Field Back Online Asset Highlights › Baobab Ivoirien FPSO field restarted in June 2026 › Phase Five Drilling Campaign anticipated to target first oil 4Q’26 › Phase Five capital allocation will include a mix of producing (4), injection (2 or 3), and workover (2) wells › Well positioned with multiple prospect areas to capitalize on explosive growth in the basin › Kossipo Vaalco (60%) confirmed as operator with partner PetroCI (40%) › Field development plan expected to be completed in the first half of 2027 › New OBN seismic data driving and derisking Vaalco’s updated evaluation and development plans 2Q 2026 Asset Stats 1,161 BOEPD WI Production 100% / 0% / 0% Oil NGL Gas Q2 2026 Supplemental Information: Profitably and Sustainably Growing Value August 2026
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Vaalco Energy 10 Gabon Update Production Optimization Asset Highlights › Commenced Phase Three Drilling Program in December 2025; announced successful pilot in January 2026 › Etame 15H development well drilled, completed and placed on production in late February 2026 › West Etame non-commercial; sidetracked to Etame 14H, on production late April › Ebouri-5H on production June 2026 › ETBNM-3 at SEENT online in late July 2026 › Rig moved July 27th to drill ETSEM-3PH with development well to follow › Completed Production Sharing Contracts with Gabon for offshore Niosi Marin and Guduma Marin blocks (previously G&H); combined 4,918 km2 › 3D seismic acquisition across Niosi and Guduma licenses completed; technical evaluation underway › Strong production uptime and optimization efforts, offsetting decline › Achieved ~97% production uptime in 2023 & 2024, ~95%(1) in 2025 and ~93% in 2026 YTD 2Q 2026 Asset Stats Operational Production Uptime 9,353 BOEPD WI Production 100% / 0% / 0% Oil NGL Gas ~85% ~97% ~97% ~95% ~93% 78% 80% 82% 84% 86% 88% 90% 92% 94% 96% 98% 100% 2022 average 2023 average 2024 average 2025 average 2026 average YTD Percentage Uptime Maintaining Strong Production and Executing on Drilling Campaign 1 1) 2025 average calculated excluding the July field shutdown. Including the shutdown period, the average uptime is ~91% Q2 2026 Supplemental Information: Profitably and Sustainably Growing Value August 2026
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Vaalco Energy 11 6 4 3 2 2 1 2 4 6 4 5 1 1 0 1 2 3 4 5 6 7 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Capital Workovers New Drills Egypt Update Drilling and Improving Financial Health Asset Highlights › Completed 23 wells as part of continuous drilling program › Completed successful 2025 Egyptian drilling program in Q4 2025 › Reduction in spud-to-spud cycle time led to increased drill opportunities, faster production uplift and enhanced reserve monetization › Resumed 2026 drilling program in May 2026, previously unbudgeted, without adding capex to total company original guidance › Production increased 7% year over year in Egypt › Materially reduced aged Accounts Receivable balance, and are effectively current on sales with collections 2Q 2026 Asset Stats Capital Workovers/New Drills Completed in 2024-2026 11,281 BOEPD WI Production Drilling Program Provided Production Boost in 2025 and Resumed Drilling Program in May 2026 With Continued Production Optimization from Workovers/Recompletions Driving Production Growth in 2026 100% / 0% / 0% Oil NGL Gas Q2 2026 Supplemental Information: Profitably and Sustainably Growing Value August 2026
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Vaalco Energy 12 Equatorial Guinea: Future Growth Potential Maximizing the Value in Vaalco’s Portfolio Strategy to Accelerate Value Creation While Adding Another Core Area, Reduces Risk and Enhances Upside Material Development Opportunity with Further Upside › Operator with a 60% working interest in undeveloped Block P › All wells drilled on Block P have oil shows or oil sands › PSC license period is for 25 years from first oil production › Discoveries on Block were made by Devon, a prior operator/owner Current Status › In 2021, completed feasibility study of Venus standalone project › In September 2022 Plan of Development approved by EG government › On March 22, 2024, 3rd Amendment to the Block P JOA was executed › Initial FEED study completed, confirming viability of the development concept › Assessing market for available hostredeployment opportunities › Evaluating technical alternatives; FID targeted for Q4 2026 VENUS DISCOVERY EUROPA DISCOVERY SW GRANDE PROSPECT Potential to add: 2P CPR reserves Upside potential: Unrisked 2C resource Upside potential: Unrisked Prospective Resources Q2 2026 Supplemental Information: Profitably and Sustainably Growing Value August 2026
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Vaalco Energy 13 Accelerating Shareholder Returns and Value Growth A World-class African-focused E&P Supporting Sustainable Shareholder Returns and Growth Building a diversified, African- focused E&P with meaningful upside. Complementary asset base spanning Côte d’Ivoire, Gabon, Egypt, Equatorial Guinea and Nigeria Robust balance sheet providing a strong foundation for meaningful shareholder returns. Significant cash distribution returning over $130 million to shareholders since 2021 with a current dividend yield of ~4% Step change in production and cash flows support sustainable returns and growth. Material growth in production potential and reserves over past two years supports significant cash generation for shareholder returns and growth investment Material reserves and production with a high-quality inventory of multi-year investment options. Significant 1P and 2P (NRI) reserve base with upside across multiple assets Enlarged scale enhances investment proposition for the global capital markets. Increased scale and profile promotes enhanced market visibility and uplift in trading liquidity Proven team with an established track record of value creation. Strong record of value creation and returns, coupled with returning value to shareholders, enhances investment thesis Q2 2026 Supplemental Information: Profitably and Sustainably Growing Value August 2026
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Vaalco Energy 14 Step Change in Total Production and Reserves Significant Increase in Scale and Reserves Depth 5,579 8,734 12,177 23,946 24,738 21,305 23,575 0 2,500 5,000 7,500 10,000 12,500 15,000 17,500 20,000 22,500 25,000 27,500 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 Est. WI BOEPD Production (WI)(4) SEC Proved Reserves(1) (MMBOE) 11.2 27.9 28.6 45.0 44.4 - 5.0 10.0 15.0 20.0 25.0 30.0 35.0 40.0 45.0 50.0 VAALCO YE 2021 VAALCO YE 2022 VAALCO YE 2023 VAALCO YE 2024 VAALCO YE 2025 19.5 76.4 77.3 96.1 76.9 - 20.0 40.0 60.0 80.0 100.0 VAALCO YE 2021 VAALCO YE 2022 VAALCO YE 2023 VAALCO YE 2024 VAALCO YE 2025 2P WI CPR Reserves(2,3) (MMBOE) 1) SEC reserves are NSAI and GLJ estimates as of December 31, 2021 through 2025 2) 2P WI CPR Reserves are NSAI and GLJ estimates as of December 31, 2021 through 2025 with Vaalco’s management assumptions for escalated crude oil price and costs. YE 2025 is pro forma for the Canada divestment, which closed February 19, 2026; prior years are as reported. See “Oil and Nat ural Gas Reserves” in the Safe Harbor Statements for further information 3) 2P WI CPR reserves in YE 2022 and YE 2023 for Equatorial Guinea POD approval are NSAI estimates as of September 2022 with Vaalco ’s management assumptions for escalated crude oil price and costs Q2 2026 Supplemental Information: Profitably and Sustainably Growing Value August 2026 4) FY 2020 – FY 2025 include Canadian volumes. FY 2026 Est. is the midpoint of current guidance and reflects the Canada divestment
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Vaalco Energy 15 › CDI - MV10 FPSO Refurbishment and Tie-In (~$75MM), Phase 5 Drilling Program (~$85MM), Kossipo (~$4MM) and Other (~$10MM) › Gabon - Phase Three Drilling Program Including Maintenance Upgrades › Egypt – 2026 Drilling Program, Workovers, Recompletions and Maintenance Capital › EG & Other - Continued Technical Studies, Corporate and IT Capital 2026 Full Year Capital Expenditures Guidance (As of August 7, 2026) Diligent Capital Allocation to High-Return Projects 2026 Full-Year Capital Guidance: $290 - $360 million CDI ~54% Gabon ~36% Egypt ~9% EG & Other ~1% Q2 2026 Supplemental Information: Profitably and Sustainably Growing Value August 2026 Midpoint Spend Profile: Q1 22%, Q2 31%, 2H 47%
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Vaalco Energy 16 Q3 and Full Year 2026 Guidance (As of August 7, 2026) Q3 2026 FY 2026 WI Production1,4 (BOEPD) Gabon 9,500 - 10,500 9,000 – 10,000 Egypt 10,900 – 12,000 10,850 – 12,000 Canada 0 250 – 300 Côte d’Ivoire 4,000 – 4,400 2,200 – 2,550 Total Vaalco WI Production 24,400 – 26,900 22,300 – 24,850 NRI Production1 (BOEPD) Total Vaalco NRI Production 19,600 – 21,600 17,500 – 19,400 WI Sales (BOEPD) Gabon 7,800 – 8,400 8,300 – 10,500 Egypt 10,900 – 12,000 10,850 – 12,000 Canada 0 250 – 300 Côte d’Ivoire 3,200 – 3,500 2,400 – 2,700 Total Vaalco WI Sales 21,900 – 23,900 21,800 – 25,500 NRI Sales (BOEPD) Total Vaalco NRI Sales 17,200 – 18,900 17,100 – 20,050 Production Expense2 (millions) $39.5 – $48.0 $159.5 – $187.0 Production Expense per WI BOE $19.00 – $23.00 $19.00 – $23.00 Production Expense per NRI BOE $25.00 – $29.00 $24.00 – $29.00 Exploration Expense (millions) $3.00 - $4.00 $28.00 - $31.00 Offshore Workovers (millions) $0 – $0 $0 – $0 Cash G&A3 (millions) $7.0 – $9.0 $32.0 – $36.0 CAPEX (millions) $75.0 – $115.0 $290.0 – $360.0 DD&A ($/BOE) $18.00 – $21.00 $18.00 – $21.00 1) WI is Working interest to VAALCO and NRI is net of royalties 2) Excludes offshore workover expense and stock-based compensation 3) Excludes stock-based compensation 4) Vaalco sold all of its producing properties in Canada to a third party in Feb 2026 Q2 2026 Supplemental Information: Profitably and Sustainably Growing Value August 2026
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Vaalco Energy 17 Reconciliations of Non-GAAP Measures Please refer to Q2 2026 Earnings Release for additional reconciliations Q2 2026 Supplemental Information: Profitably and Sustainably Growing Value August 2026
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Vaalco Energy Corporate Offices United States 2500 CityWest Blvd., Suite 400 Houston, TX 77042 o. 713.623.0801 f. 713.623.0982 vaalco@vaalco.com United Kingdom Henry Wood House, 4-5 Langham place, London, W1B 3DG T +44 20 7647 2500 Branch Offices Vaalco Energy Gabon B.P. 1335, Port Gentil, Gabon +241-(0)1-56-55-29 Investor Contacts United States Al Petrie 713.543.3422 apetrie@vaalco.com vaalco@vaalco .com Vaalco.com For More Information United Kingdom Barry Archer 44.0.20.7466.5000 vaalco@Buchanan.uk.com Vaalco Energy Egypt 6 Badr Towers Ring Road, Maadi Cairo, Egypt T +03 4845237 VAALCO Energy Guinea Ecuatorial Office 2-1, 3rd Floor, Energy Square, Autovia Aeropuerto - Ela Nguema Malabo II, Equatorial Guinea T +240-222-991002 Vaalco Energy Cote d’Ivoire Succursale de Côte d’Ivoire Abidjan Plateau, Rue A7 Pierre Semard, Villa NA2 01 BP 4053 Abidjan 01 Côte d’Ivoire T +225 07 78 26 46