Coro Energy : Investor Update Q3 2022

Q3 2022 UPDATE

CORO ENERGY PLC

A SOUTH EAST ASIAN LOW CARBON ENERGY BUSINESS

PLC ENERGYQ3 PRESENTATIONCORO INVESTOR

DISCLAIMER

The information contained in this document ("Presentation") has been prepared by Coro Energy plc (the "Company"). While the information contained herein has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers give, have given or have authority to give, any representations or warranties (express or implied) as to, or in relation to, the accuracy, reliability or completeness of the information in this Presentation, or any revision thereof, or of any other written or oral information made or to be made available to any interested party or its advisers (all such information being referred to as "Information") and liability therefore is expressly disclaimed. Accordingly, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers take any responsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tortious, statutory or otherwise, in respect of, the accuracy or completeness of the Information or for any of the opinions contained herein or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this Presentation.

This Presentation may contain forward-looking statements that involve substantial risks and uncertainties, and actual results and developments may differ materially from those expressed or implied by these statements. These forward-looking statements are statements regarding the Company's intentions, beliefs or current expectations concerning, among other things, the Company's results of operations, financial condition, prospects, growth, strategies and the industry in which the Company operates. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. These forward-looking statements speak only as of the date of this Presentation and the Company does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of this Presentation.

Neither the issue of this Presentation nor any part of its contents is to be taken as any form of commitment on the part of the Company to proceed with any transaction and the right is reserved to terminate any discussions or negotiations with any prospective investors. In no circumstances will the Company be responsible for any costs, losses or expenses incurred in connection with any appraisal or investigation of the Company. In furnishing this Presentation, the Company does not undertake or agree to any obligation to provide the recipient with access to any additional information or to update this Presentation or to correct any inaccuracies in, or omissions from, this Presentation which may become apparent.

This Presentation should not be considered as the giving of investment advice by the Company or any of its shareholders, directors, officers, agents, employees or advisers. In particular, this Presentation does not constitute an offer or invitation to subscribe for or purchase any securities and neither this Presentation nor anything contained herein shall form the basis of any contract or commitment whatsoever. Each party to whom this Presentation is made available must make its own independent assessment of the Company after making such investigations and taking such advice as may be deemed necessary. In particular, any estimates or projections or opinions contained herein necessarily involve significant elements of subjective judgment, analysis and assumptions and each recipient should satisfy itself in relation to such matters. The distribution of this document in or to persons subject to other jurisdictions may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. Any failure to comply with these restrictions may constitute a violation of the laws of the relevant jurisdiction.

PLC ENERGYQ3 PRESENTATIONCORO INVESTOR

EXECUTIVE SUMMARY

SOUTH EAST

ASIA PORTFOLIO

EXECUTIVE SUMMARY

A South East Asian focused low carbon energy business, blending a strong revenue generating gas portfolio with early stage but growing renewables exposure

15% interest in Duyung gas field in Indonesia; 495 Bcf 2C discovered gas resource (gross) with the intent to feed Singapore markets

Italian producing gas portfolio (Annual free cash flow estimated at €5m)

150 MW Vietnam rooftop solar project (development stage) including 3MW pilot (under construction)

100MW Solar and 100MW onshore wind projects in Philippines (development stage)

20.3% equity interest in IoN Ventures, a private developer of flexible power assets

Coro Energy plc's equity essentially a leveraged play on commodity prices

Utilise existing cash resources and funds from the Italian portfolio to fund Duyung pre FID spend to the end of Q1 2023 (net US$1m up to FID) and G&A (US$2.4mio pa)

Support operator of Duyung to secure GSA (expected 2022), reach FID (2023) and possibly farm out and / or monetise earlier given current strong global gas backdrop

Increasing deployment of capital into Asian renewables projects to provide sustainable cash flows (c. targeting mid-teens to mid-twenties IRRs) and look for opportunities to sell projects at RTB for a development fee and carry (immediate value recognition)

Continue to evaluate new projects

in the region across oil, gas and clean energy (a number of oil and gas and renewables projects already under assessment)

ITALY

CONCESSIONS

THE TEAM

James Parsons

Executive Chairman

Experienced AIM Chairman with over 20 years' experience

in the fields of strategy, management, finance and corporate development

Qualified accountant and has a BA Honours in Business Economics

Mark Hood

CEO

Over 20 years' experience in utility scale energy projects at all stages of development and asset transition, and rejuvenating off track organisations and projects

Qualified Project Manager with PMP and a MSc in Project management

Michael Carrington

COO

30 years' experience of energy efficiency and clean tech generation in the built environment, including strategic management, acquisition integration, research development, commercialisation, origination, due diligence and project pre-development across Europe,

UK and ASEAN countries.

PLC ENERGYQ3 PRESENTATIONCORO INVESTOR

Stephen Birrell

Independent Non-Executive

Director

Non-Executive Director of Ascent Plc, director of Ossian Energy Limited and president of ROPEPCA, the upstream oil and gas operator association of Romania. Spanish speaking geoscientist with over 35

THE TEAMyears experience in the upstream oil and gas industry.

BSc Honours in Applied Geology

Marco Fumagalli

Non-Executive Director

Non-Executive Director & Managing Partner with over 25 years' experience in private equity, infrastructure, energy and biosciences, among others

Qualified accountant with a degree in Business Administration

Ewen Ainsworth

CFO

Non-Executive Director of Corcel Plc and CEO of Discovery Energy Limited, an advisory, consultancy and investment company with over 30 years experience in a variety of board level roles.

Qualified chartered management accountant

WHY SOUTH EAST ASIA?

Governments noted to be shelving coal projects in favour of clean energy substitutes

PRESENTATION INVESTOR

WHY SOUTH EAST ASIA?

PROJECTED ASEAN GDP GROWTH, 2020-2040

ELECTRICITY

DEMAND

FORECAST NEW INSTALLED CAPACITY

ANNUALLY TO 2040 - GIGAWATTS

COAL

GAS

RENEWABLES

RENEWABLES AS A SHARE OF PRIMARY ENERGY SUPPLIED - 2021

UK

VIETNAM

THAILAND

PHILIPPINES

MALAYSIA

INDONESIA

COAL AS A SHARE OF

PRIMARY ENERGY SUPPLIED - 2021

PLC ENERGYQ3 CORO