Slides
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Interim Results 2026 1 October 2026
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Block 2A SEA 10% (INPEX 42.5%, Petronas 40% Petros 7.5%) • Giant, 9TCF Kertang gas prospect • Well drilling summer ’27 • Full, uncapped carry 1 Unaudited Interim Results as at 30 Jun 2026 2 Sproule ERCE Competent Persons Report Jan-26, mean prospective resources are unrisked 3 Seascape Energy estimates based on current equity level Peninsular Malaysia Seascape Energy: a Malaysian E&P pure - play £7 million Cash @ 30 Jun, no debt1 64 mmboe certified 2C resources2 324 mmboe net mean prospective resources2 £70 million market cap (approx.) 2 Sabah Brunei Indonesia Sarawak` Temaris Cluster SEA 100%, operator • ~250 bcf gas development • >1 Tcf exploration upside • First gas H2 2028 • Est production ~17 kboepd (net)3 DEWA Cluster SEA 28% (EnQuest 42%, Petros 30%) • >200 bcf gas development • First gas by 2030 • Est production ~6 kboepd (net) 3
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£ MM Notes Admin expenses (0.6) Tight cost controls, capitalisation of Temaris project costs Loss for period (0.5) Positive impact of active cash management Total cash and equivalents 7.1 Includes restricted cash (majority released post-period end) Non-current assets 7.4 Increase largely reflects investment into Temaris Source: Seascape Interim Results 20263 Interim results for six-month period ending 30 June 2026 Financial summary Robust cash position to Temaris Project FID and beyond
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Middle East conflict continues to disrupt global commodity flows • Impact of drawdown on global hydrocarbon stocks likely to be felt for years Global commodity market increasingly becoming ‘regionalized’ • Security of supply is now a key concern • Potential for politics to upend historic flows Heightened interest in Asian upstream • Growing, power-hungry economies • Lack of opportunity in NW Europe • Traditionally dominated by state-owned companies Source: Energy Institute Statistical Review of World Energy 20264 Constructive macro backdrop Coal Gas Oil
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5 Portfolio update
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1 All resource estimates based on Sproule ERCE audited figures 2 Indicative production profile based on SEA estimates including potential exploration upside6 Temaris countdown to FDP Temaris PSC Key Facts Mengkuang (29 bcf) Tembakau (246 bcf) Sum of Negative Composite Map Peninsular Malaysia Temaris • Award: Jun-25 • Size: 1,200 km2 • Water depth: ~68m • Hydrocarbon: Gas (100%) • 2C Resources: 275 bcf • Mean Prospective: >1 Tcf • First gas: H2 2028 • Production: 100 mmscfd Field Development Plan progressing to schedule • Dec-26 submission Active negotiations with PETRONAS regarding inclusion of additional acreage to Temaris PSC • Extension of high-quality, Miocene channelised system • Commercial agreement anticipated in Q4-26 Farm-out process restarted, strong industry interest • Uniquely positioned asset • Geographically advantaged • Seek conclusion late Q4-26
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Source: Sproule ERCE CPR Jan-26 (Tembakau) and Seascape internal estimates (Tualang) Note: Seismic sections are of the same vertical and horizontal scale 7 Temaris unlocking additional low-risk prospectivity Tembakau FieldTualang Prospect A B C D Mean Prospective Resources: 275 bcf 2C Resources: 246 bcf A B C D Tualang Tembakau
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Production profile assumes 95% uptime8 Temaris strong base with significant, scalable upside Temaris Indicative Production (mmscfd) Investing for future success 0 50 100 150 200 250 300 350 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 Base Near-Field Risked Upside pipeline capacity Tembakau Base 450 3rd Party Host-Platform 32” x 167 km Tembakau WHP-B Tembakau WHP-A Kerteh Onshore Slug Catcher Pre-built pipeline spur 6 spare well slots Additional riser 16” x 25 km 16” x 50 km
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Source: Seascape estimates9 Temaris delivering an execution-ready project by Q4 Sei 2026 2027 2028 Q4 H1 H2 H1 H2 FDAP FID Survey Long Leads Host Mods Offshore Execution First Gas Procurement & Construction Project Workstreams Targeting material gas production in only ~18 months Seismic Reprocessing Done, improved imaging New prospectivity added Resource Assessment Reservoir modelling done Updated CPR underway Well Head Platform Engineering underway Costs in-line Pipeline Market sounding complete Costs in-line Commercial Host platform engaged Gas Sales negotiation underway
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Initial development and concept planning completed and supported by PETRONAS • Gas transported to the MLNG plant via Shell-operated facilities at E8 field EnQuest committed to the project, targeting sanction for end-2026 • production no later than 2030 to align with expected system capacity EnQuest 2C resource figure in-line with Seascape’s independent CPR • 350 bcf & ~6 MMstb of condensate Source: Seascape Interim Results 2026, EnQuest plc10 DEWA providing incremental volumes into MLNG Project status update Sei
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Kertang 1 location, 1,100 m water depth Cycle VI/VII (0.7 Tcf) Cycle II (3.4 Tcf) 22” 18” 16” 13 - 3/8” 11 - 3/4” 9 - 5/8” 7” Cycle I (5.0 Tcf) 2A: Kertang Rig tender in final stages • Award mid Q4 - 26 Significant purchase orders for well equipment placed Drilling summer ’27, <12 months away! Source: Sproule ERCE CPR Jan - 26 11 10.0% 42.5% 40.0% 7.5%
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12 Summary
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Source: Company disclosures, London Stock Exchange @ 30 Sep 26, Valeura and Horizon converted at current FX rates 13 Selected E&P Peer Group Market Capitalisation & H1 2026 Production Seascape production potential in context 0 5 10 15 20 25 30 35 40 45 50 £0 £100 £200 £300 £400 £500 £600 £700 £800 £900 £1,000 Serica EnQuest Valeura Jadestone Seascape Kistos Horizon Afentra Genel Pharos M/Cap kboepd Production Potential Market Capitalisation H1 2026 Production
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14 Capturing the entire play Countdown to FDP submission Farm-out underway Huge upside potential Active negotiations underway with PETRONAS to increase Temaris PSC area Field development plan submission imminent, deliver first gas in ~18 months Strong industry interest in an execution- ready development with huge upside Kertang drilling now <12 months away giving exposure to multi-Tcf exploration upside Growing our footprint Execution ready project Multi-TCF opportunities Uniquely positioned asset
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