Pancontinental Energy NL : Presentation to Annual General Meeting

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Annual General Meeting

Presentation

29 November 2021

Utilising Pancontinental's collective knowledge and experience in the industry to seek future energy sources and sustainable business growth to add shareholder value.

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Disclaimer

These materials are strictly confidential and are being supplied to you solely for your information and should not be reproduced in any form, redistributed or passed on, directly or indirectly, to any other person or published, in whole or part, by any medium or for any purpose. Failure to comply with this restriction may constitute a violation of applicable securities laws.

These materials do 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, or any offer to underwrite or otherwise acquire any securities, nor shall any part of these materials or fact of their distribution or communication form the basis of, or be relied on in connection with, any contract, commitment or investment decision whatsoever in relation thereto. The information included in the presentation and these materials is subject to updating, completion, revision and amendment, and such information may change materially. No person is under any obligation to update or keep current the information contained in the presentation and these materials, and any opinions expressed in relation thereto are subject to change without notice.

The distribution of these materials in other jurisdictions may also be restricted by law, and persons into whose possession these materials come should be aware of and observe any such restrictions.

This presentation includes forward-looking statements that reflect the company's intentions, beliefs or current expectations. Forward looking statements involve all matters that are not historical fact. Such statements are made on the basis of assumptions and expectations that the Company currently believes are reasonable, but could prove to be wrong. Such forward looking statements are subject to risks, uncertainties and assumptions and other factors that could cause the Company's actual results of operations, financial condition, liquidity, performance, prospects or opportunities, as well as those of the markets it serves or intends to serve, to differ materially from those expressed in, or suggested by, these forward- looking statements. Additional factors could cause actual results, performance or achievements to differ materially. The Company and each of its directors, officers, employees and advisors expressly disclaim any obligation or undertaking to release any update of or revisions to any forward-looking statements in the presentation or these materials, and any change in the Company's expectations or any change in the events, conditions or circumstances on which these forward-looking statements are based as required by applicable law or regulation.

By accepting any copy of the materials presented, you agree to be bound by the foregoing limitations.

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Disclaimer continued

The resources referred to in this presentation were announced on 11 September 2018 (PEL 87), 14 July 2019 (ATP 920 & ATP 924 conventional gas prospective resources) and 30 October 2019 (ATP 920 & ATP 924 oil prospective resources) .

The estimated quantities of petroleum that may potentially be recovered by the application of a future development project(s) relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further exploration appraisal and evaluation is required to determine the existence of a significant quantity of potentially moveable hydrocarbons.

The company confirms that it is not aware of any new information or data that, in its opinion, materially affects the information included in the relevant market announcement and that all the material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.

The hydrocarbon resource estimates in this report have been compiled by Mr Brian Diamond and Mr Kane Marshall and reviewed to the satisfaction of Mr Roy Barry Rushworth, the Technical Director of Pancontinental Oil & Gas NL. Mr Rushworth has more than 35 years' experience in practising petroleum geology and exploration management. Mr Rushworth consents to the inclusion in this report of information relating to the hydrocarbon Prospective Resources in the form and context in which it appears.

Prospective Resource estimates in this report have been prepared as at the date disclosed under the prospective resource numbers. The estimates have been prepared in accordance with the definitions and guidelines set forth in the Petroleum Resource Management System as revised in 2018 and approved by the Society of Petroleum Engineers and have been prepared using deterministic methods and probabilistic methods depending on the project and this is disclosed under the prospective resource numbers. Unless otherwise stated the estimates provided in this report are Best Estimates. The estimates are unrisked and have not been adjusted for an associated risk of discovery and risk of development. The 100% basis refers to the total resource.

The meanings of "Prospects" and "Leads" in this report are in accordance with the Petroleum Resource Management System as revised in 2018 and approved by the Society of Petroleum Engineers. A Prospect is a project that is sufficiently well defined to represent a viable drilling target. A Lead is a project associated with a potential accumulation that is currently poorly

defined and requires more data acquisition and / or evaluation to be classified as a Prospect.	3

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Corporate Snapshot

	CORPORATE OVERVIEW		DIRECTORS
	Issued Share Capital 7,034 million shares		HD Kennedy	Non-Executive Chairman
	Options	270 million options		EA Myers	Executive Director, CEO
	Share Price	0.1 cent **		RB Rushworth	Executive Director, Tech
	Market cap	A$7.0 million **		V Petrovic	Executive Director, Sec
	Cash	c. A$900k		MM Malaxos	Non-Executive Director

** At close of ASX trading 26 November 2021

PROJECTS

• PEL 87, Orange Basin, offshore Namibia
• PEL 37, Walvis Basin, offshore Namibia (pending Ministerial approval and the grant of an extension)
• ATP 920, Cooper Eromanga Basin, Queensland, Australia
• ATP 924 (Ace Area), Cooper Eromanga Basin, Queensland, Australia

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Pancontinental's Exploration Projects

Block	PCL%	Partner		Operator
Namibia PEL 87	75%	Custos 15%	Namcor 10%	PCL
Namibia PEL 37	Pending Ministerial approval and grant of extension
Australia ATP 920	20% earning	Key Petroleum 80%		KEY
Australia ATP 924	25% earning	Key Petroleum 75%		KEY

NAMIBIA PEL 37 Offshore
Regional drilling on-trend	NAMIBIA PEL 87 Offshore
2021/22	"SATURN" OIL PROJECT	AUSTRALIA Cooper Basin
Awaiting Ministerial Approval	Drilling on-trend by	5
and grant of extension	Majors in 2021/22	Ongoing exploration
		affected by COVID-19