AFENTRA PLC - Investor Presentation

Afentra PLC delivered a strong investor update highlighting significant operational progress, strategic growth initiatives, and an enhanced financial platform to support long-term expansion in Angola’s offshore and onshore oil assets. The company reaffirmed its growth strategy following a completed strategic review, citing strong asset value, improving market conditions, and confidence in its independently funded expansion plans. Afentra targets production growth from approximately 6,500 barrels of oil per day to more than 20,000 boepd by 2030 through a combination of offshore drilling, infrastructure upgrades, hydraulic workovers, and near-term development projects including the high-impact Picasa Southwest and Impala wells. The company also emphasized substantial reserve and contingent resource upside across its portfolio, alongside exploration potential in the underexplored Kwanza Basin. Financially, Afentra strengthened its balance sheet with a new $125 million refinancing facility, improving funding flexibility, lowering borrowing costs, and supporting both organic growth and selective M&A opportunities. Management highlighted robust cash flow generation, disciplined capital allocation, strong EBITDA potential, and improving operating margins driven by anticipated production increases and OPEX efficiencies. With recent revenue momentum, rising oil prices, and multiple near-term catalysts including drilling results, first oil developments, and seismic campaigns, Afentra believes it is well positioned to deliver significant shareholder value and sustained long-term growth.