Pioneering Energy Exploration
and Productionfor a Sustainable Future

OQEP At A Glance

1. Reserves as of December 2023 based on company data.
2. On working interest (“WI”) basis, WI basis defined as the proportion of production and/or reserves per OQEP’s ownership stake in assets prior to the deduction of the government royalties or share of production.
3. Adjusted EBITDA. EBITDA calculated as Profit for the year before tax adjusted for income tax, finance income, finance costs and depreciation, depletion and amortization (“DD&A”). Adjusted EBITDA (including Abraj) is EBITDA adjusted for reversal of impairment on oil and gas assets and other property plant and equipment and to remove the gain on divestment of Block 60 and Block 48 for the year ended 31 December 2023. Adjusted EBITDA is Adjusted EBITDA (including Abraj) further adjusted for the contribution of Abraj.
4. Adjusted FCF defined as Net cashflow from operating activities minus capital expenditure. OQEP FCF is adjusted to remove FCF attributable to Abraj.
5. 2023 In Country Value (ICV) retained of $142m (40% of total procurement spend). 2023 SMEs spend of $76m (38% to SMEs RIYADA)