Transformational Growth Through Exploration

Transformational Growth Through Exploration Morocco Brazil Namibia South Atlantic 100 Ma econstruction www.chariotoilandgas.com 1

Disclaimer and forward looking statements These Presentation Materials do not constitute or form part of any invitation, offer for sale or subscription or any solicitation for any offer to buy or subscribe for any securities in the Company nor shall they or any part of them form the basis of or be relied upon in any manner or for any purpose whatsoever. These Presentation Materials must not be used or relied upon for the purpose of making any investment decision or engaging in an investment activity and any decision in connection with a purchase of shares in the Company must be made solely on the basis of the publicly available information. Accordingly, neither the Company nor its directors makes any representation or warranty in respect of the contents of the Presentation Materials. The information contained in the Presentation Materials is subject to amendment, revision and updating in any way without notice or liability to any party. The presentation materials contain forward-looking statements which involve risk and uncertainties and actual results and developments may differ materially from those expressed or implied by these statements depending on a variety of factors. No representation or warranty, express or implied, is made as to the fairness, accuracy or completeness of the information or opinions contained herein, which have not been independently verified. The delivery of these Presentation Materials shall not at any time or in any circumstance create any implication that there has been no adverse change, or any event reasonably likely to involve any adverse change, in the condition (financial or otherwise) of the Company since the date of these Presentation Materials. The Presentation Materials are confidential and being supplied to you for your own information and may not be reproduced, further distributed, passed on, or the contents otherwise divulged, directly or indirectly, to any other person (except the recipient s professional advisers) or published, in whole or in part, for any purpose whatsoever. The Presentation Materials may not be used for the purpose of an offer or solicitation to subscribe for securities by anyone in any jurisdiction. 2

Chariot Transformational growth through exploration Chariot USP: High impact Atlantic Margins explorer: Assets in Morocco, Namibia and Brazil Portfolio of a Major in scale Nimbleness of an Independent Exploring for Giants - potential for transformational value Morocco Drill-ready Inventory Prospective resources 768mmbbls* 464mmbbls*** Emerging region Clear and focused risk management strategy: Portfolio diversity combined with focus on known geology Expert in-house sub-surface team with state-of-the-art technology Endorsement and risk-sharing through partnering Active portfolio management focused on quality Strong balance sheet with track record of capital discipline Experienced in-house team focused on maximising value: Operating capability throughout the exploration value chain Explore Discover Sell and return value to shareholders Brazil Lead Inventory Prospective resources 300mmbbls+** Frontier region Namibia Drill-ready Inventory Prospective resources 459mmbbls* 469mmbbls* Frontier region Market Cap ~ 54m YE 2017 Cash (unaudited) ~US$77m*** US$15.2m * From Netherland Sewell and Associates Inc. ( NSAI ) estimate Gross Mean Prospective esource ** Internal Chariot estimate of Gross Mean Prospective esource 3 *** As at 23.02.18

Transformational growth through exploration Why invest in Chariot: Transformational impact in the success case of the fully-funded D-1 well in Morocco: Material upside in the adjoining Chariot acreage in the success case Downside protection through partnering and technical de-risking Cash significantly exceeds commitments and no debt Not a one-trick pony: targeting 3 company-making wells in the near-term from a portfolio in 3 countries, 4 plays, 5 licence areas * * Subject to shareholder approval ** Net from Netherland Sewell and Associates Inc. ( NSAI ) estimate Gross Mean Prospective esource at current equity level *** Internal Chariot estimate of Gross Mean Prospective esource at current equity level 4

CHA CHA CHA CHA CHA mmboe abat D, Morocco mmboe The Investment case Chariot to be exposed to the drilling of two giant potential wells this calendar year* Success in any of these wells has the potential to create transformational value Any success de-risks material running room in each licence Firm drilling commitment gives commercial advantage in ongoing partnering discussions: educes dilutive effect of partnering at a commercial disadvantage Partnering enables acceleration of drilling the follow-on portfolio in the success case Committing to drilling offers additional costs savings and operational synergies with 3rd party drilling Company 2P eserve at YE2016 vs CHA prospect net mean P** CHA prospect net mean P** for drilling inventory and follow-on prospects Central Blocks, Namibia Mohammedia-Kenitra, Morocco * Subject to shareholder approval ** Net from Netherland Sewell and Associates Inc. ( NSAI ) estimate of individual prospect Gross Mean Prospective esource ( P ) at current equity level *** Internal Chariot estimate of Net Mean Prospective esource at current equity level 5

Why now? An opportunity to accelerate at low cost Drilling costs at historic lows. Down by 65-75% of the 2014 peak, but expected to increase with a return to exploration ig day rates down from >$650k/day to < $200k/day Ayame-1X ultra-deepwater well offshore Cote d Ivoire drilled for <$20m - similar design and target depth to the Chariot wells Low cost window is expected to close. Chariot captured bottom of the seismic market with extensive surveys in Morocco, Namibia and Brazil Seismic costs are now recovering from historic lows with PGS Q3 results showing growing limitations on streamer availability Increasing seismic activity enables additional exploration drilling Industry return to exploration. In response to stabilised oil price, reduced cost environment and the challenge of reserve replacement First signs of increasing drilling activity in West Africa Worldwide Drillships (>7500 WD) Average day rate vs. total contracted utilisation 6

Near-term triggers Country Licence 1H 2018 2H 2018 1H 2019 2H 2019 1H 2020 MOOCCO abat Deep Saipem 12000 D-1 Zero Cost Carried well 10% JP-1 768mmbbls**** NAMIBIA No remaining commitments Central Blocks 2312 & 2412A 65% Well Partnering Drilling* Prospect S 459mmbbls**** Drilling*** Prospect W 284mmbbls*** MOOCCO No remaining commitments Kenitra 75% Well Partnering Drilling** Kenitra-1 464mmbbls***** MOOCCO No remaining commitments Mohammedia 75% Well Partnering Drilling*** LKP-1a 350mmbbls**** BAZIL No remaining commitments BA-M-292/3 BA-M-313/4 100% Well Partnering Drilling*** Lead potential 300 500mmbbls***** New Ventures 100% Evaluation of New Venture Opportunities * Subject to shareholder approval ** Funded through partnering *** Subject to partnering and dependent on outcome of adjacent drilling **** NSAI estimate of Gross Mean Prospective esource ***** Internal Chariot estimate of Gross Mean Prospective esource 7

Drill-ready inventory of high margin targets in diversity of plays Portfolio of drill-ready assets in emerging and frontier basins - substantial play opening opportunities A range of play types and investment opportunities Water depths range from 750m to 1650m in basins with benign metocean conditions and normal pressure/temperature regimes lower deepwater exploration and development costs expected Priority drilling candidates all have material follow-on targets and running room in the success case Transformational scale, excellent commercial terms and lower costs result in high margin assets with robust economics Summary of high-graded drilling targets and follow-on potential: Drilling Inventory Target potential Water depth JP-1 (D-1 well) (abat Deep) 768mmbbls* 1115m Prospect S (Central blocks) 459mmbbls* 1650m Kenitra-1 (Kenitra) 464mmbbls** 750m Trap & Play type 4-way dip closed structure Jurassic carbonate reservoir Jurassic source Dip-closed structure Upper Cretaceous turbidite clastic reservoir Aptian source 3-way dip, faulted closed structure Lower Cretaceous deltaic clastic reservoir Jurassic source Follow-on potential 6 leads (109 to 1041mmbbls*) JP-2 (Moh) (117mmbbls*) 4 prospects (283 to 393mmbbls*) Summed mean >1.75 Bbbls 4 prospects (182 to 350mmbbls*) Summed mean > 1Bbbls Drill-ready inventory in lower-cost deepwater operating environments in new and emerging basins with excellent commercial contract terms creating high-margin assets offering transformational potential in the success case * NSAI estimate of Gross Mean Prospective esources ** Internal Chariot estimate of Gross Mean Prospective esources 8

2014 Equity raise End 2012 Cash Investment in the portfolio Farm-in recoveries 2017 YE Cash Capital discipline Prudent financial management of funds 2013 to 2017: eduction in Annual Cash Overhead ($m) 2013 to date: $68.3m $41.5m $15.2m* Cash position: YE 2017 cash Equity raise (gross) $15.2m* $15.0m** $108.6m $14m Cash in excess of licence commitments Other than the third-party fully-funded abat Deep-1 well, no remaining work programme commitments No debt * Unaudited ** Subject to shareholder approval 9

Outlook and Objectives Strategy underpinned by: Diverse portfolio and a drill-ready inventory with transformational potential NAMIBIA MOOCCO BAZIL Core focus on risk management - partnering and technical development to optimise drilling outcomes A highly experienced technical, operational, financial and commercial team Strong balance sheet, strict capital discipline - Cash exceeds commitments and no debt Delivery of a capped carry on the D-1* well scheduled spud 1Q, 2018 with transformational potential Preparations underway to drill Prospect S** Namibia targeting 2H, 2018 spud - Partnering continues Preparations underway to drill Prospect Kenitra-1*** Morocco targeting 1Q, 2019 spud - Partnering continues Focused on growth Drilling 2** wells this calendar year with potentially an additional 2**** wells in the near term Ongoing evaluation of potential opportunities to broaden the portfolio and balance the risk profile Seeking to create transformational value and generate sustainable growth over the longer term * Funded by Eni ** Funded from proceeds, subject to shareholder approval *** Funded through partnering **** Subject to partnering and /or dependent on outcome of adjacent drilling 10

Portfolio theme Nova Scotia Morocco Late Jurassic eserve 4TCF and associated liquids Panuke Deep (Encana) Sable (ExxonMobil, Shell) Argentina / Uruguay Namibia Early Cretaceous Springhill play epsol et al BP, Shell, Total, Exxon, Statoil, Tullow, Petrobras, YPF Brazil Barreirinhas Ghana Mid Cretaceous Jubilee 370mmbbls TEN 300-500mmbbls Discoveries Exploration targets 11

Morocco Summary Ownership abat Deep 10%; Eni (Op.) 40%; Woodside 25%; ONHYM 25% Mohammedia 75% (Op.); ONHYM 25% Kenitra 75% (Op.); ONHYM 25% ecent Chariot Activity D-1 to spud early 2018 Gas-condensate discovery epsol JP-1 Gas production abat Deep farm-out and transfer of operatorship to Eni Now zero-cost and capped carry on the D-1 well Acquired commitment 2D and 3D seismic data over Mohammedia & Kenitra Chariot Planned Activity 2018 Jurassic light oil production Drill D-1 (abat Deep) with a capped carry scheduled to spud in late Q1 2018 with the Saipem 12000 drilling unit: 768mmbbls* 4-way dip closed Jurassic carbonate prospect in 1115m WD Potential to de-risk an additional 6 Jurassic leads ranging from 119 to 1041mmbbls* Drill Kenitra-A** (Kenitra), with LKP-1a*** (Mohammedia) back-to-back subject to well results and partnering: Kenitra-A 464mmbbls**** is an attribute supported 3-way dip closed faulted lead in Cretaceous deepwater clastics targeted by the 2017 3D seismic acquisition campaign LKP-1a 350mmbbls* is an attribute supported 3-way dip closed faulted Cretaceous clastic prospect in 350m WD defined on 3D seismic data Chariot abat Deep Kenitra Mohammedia Morocco LKP-1a Kenitra-A Complete 2D/3D seismic interpretation over Mohammedia & Kenitra to define additional prospectivity * NSAI estimate of Gross Mean Prospective esource ** Subject to partnering *** Subject to partnering and dependent on outcome of adjacent drilling **** Internal Chariot estimate of Gross Mean Prospective esource 12

Morocco Portfolio SW NE abat Deep Kenitra Mohammedia NE JP-1 Kenitra-A LKP-2A JP-2 Primary Source Carbonate eservoir Clastic eservoir LKP-1a LKP-1A Proven source rocks, modelled mature kitchens and nearby onshore legacy light oil fields support hydrocarbon source presence and effectiveness. eservoir demonstrated in Jurassic carbonates from ontrend offshore wells and in Lower Cretaceous deltaic and shallow marine clastics in both offshore shallow water wells and mapped in outcrop in the onshore adjacent to the Mohammedia licence. Early Aptian Structure & AVO 13

Namibia Summary Ownership Central Blocks: 65% (Op.); AziNam 20%; NAMCO 10%; BEE 5% Southern Blocks: Option to back-in post drilling for 10% equity at no cost ecent Chariot Activity 2600km 2 3D seismic acquired over the outboard high and processed in conjunction with existing 3500km 2 3D The evaluation of these data has defined a structural fairway which will be focus of the forward exploration programme Five 4-way dip-closed structures have been identified in the Upper Cretaceous turbidite clastic play fairway, and the focus prospects are: Good reservoir 2 source rocks Prospect W Central Blocks 41 API Oil Prospect B Prospect S Prospect S 459mmbbls*** 2018 drilling candidate Prospect W 284mmbbls*** Follow-on candidate Southern Blocks Option Prospect B 469mmbbls*** Deeper target in a stratigraphic trap Partnering process initiated Chariot Planned Activity in 2018 World-class source rock 2 source rocks Complete detailed well engineering and tendering on rig, services, logistics and long-lead items Drill Prospect S* in 2H, 2018 Drill back-to-back well on Prospect W** subject to Prospect S results Industry Activity ~3 wells in 2018 2019 Kudu Gas Field * Subject to shareholder approval ** Subject to partnering and dependent on outcome of adjacent drilling *** NSAI estimate of Gross Mean Prospective esources 14

Namibia Portfolio B S U V Primary Source All petroleum play elements proven by nearby drilling. Wells adjacent to Chariot acreage encountered excellent quality, oil-prone source rocks. Light oil (41o API) recovered adjacent to Central Blocks in reservoirs of the same age as Chariot s target prospects. Excellent quality Upper Cretaceous turbidite reservoir rocks encountered in Namibian deepwater wells, with a nearby well having good porosity and permeability at a similar depths as Chariot s targets. Secondary Source Primary eservoir Secondary eservoir S94 S94 deep S102 S106 Prospect S Prospect W 15

Brazil Summary Jubilee Field Guajuru Prospect Barreirinhas Basin Petrobras PTTEP & Mitsui farm ins 1 well 3,000 km 2 3D seismic 131 M$ signature bonus Ownership BA-M-292, 293, 313, 314; 100% (Operator). ecent Chariot Activity Acquired and processed 775km 2 of 3D seismic (PSDM) covering all 4 blocks; no remaining commitments Identified large structural prospect with multiple stacked targets; independent audit initiated Chariot Planned Activity in 2018 Partnering process to be initiated Q2 2018 for a partner to join in drilling to follow a play opening commitment well to be drilled by a third-party in the neighbouring deepwater block Industry Activity 10 deepwater wells, most committed from ound 11, to be drilled over the next 3 years 1 well committed in the block to the north of Chariot s acreage <800 km 2 3D 2 M$ bonus Shell Chariot Chariot proprietary 3D acquired 2016 Brazil Petrobras Petrobras Shell 8 wells 5,000 km 2 3D seismic 178 M$ signature bonus CGG multiclient 3D acquired 2015/16 BP 16

Brazil Portfolio Only 3 deepwater wells drilled in the basin. Presence of excellent Tertiary and Cretaceous turbidite reservoirs. Presence of Cenomanian-Turonian source rocks demonstrated in shallow-water wells drilled in-board of Chariot s acreage. Evidence for sufficient burial of the Cenomanian-Turonian source rock for hydrocarbon generation; supported by shows and potential seismic DHI s. Direct conjugate to Cote d Ivoire & Ghana discoveries. Prospectivity 200 km 2 four-way dip-closed structure identified on Chariot acreage from high quality, commitment proprietary 3D seismic data. Deepwater turbidite seismic facies and fan entry points indicate presence of reservoir sand on the fastrack processing of the 3D data. Numerous leads identified within Chariot acreage on legacy 2D seismic data and subject of the 2016 3D seismic survey ranging from 50m to 1800m WD. Potential for material hydrocarbon accumulations comparable to those found in Ghana (Jubilee 370mmbbls*, TEN 300-500mmbbls**). *Offshore Technology ** euters 17

Appendices - Corporate 18

Corporate snapshot Key Shareholders Market Statistics Shareholders* % Total Board & Senior Management 11.1 Listing Ticker Symbol AIM, London CHA Including Westward Investments Limited (A Pouroulis - Director & Founder) Protech Namibia (Pty) Limited (H Ndume Founder) 7.5 10.6 Issued Shares (at 9 January 2018) 268,873,197 Share Price (at 9 January 2018) 22.95p Newlands Capital 3.2 Market Capitalisation (at 9 January 2018)) ~US$84m Sprott Asset Management 2.9 ichard Griffiths 2.7 Total Director / Employee share awards (at 31 December 2016) 18,907,151 *Figures as per latest Equiniti share holding analysis (29.12.2017) 19

The Management Team Larry Bottomley CEO Over 35 years experience Track record of building E&P businesses Developed exploration programmes that led to major discoveries including Franklin, Cusiana, Cupiagua, Florena, Pauto, Yaguara, Ursa Minor, Thunder Horse, Ceiba, Okume, Oveng, SNE and FAN Julian Maurice-Williams CFO Chartered Accountant with over 10 years of experience in the oil and gas sector. Previously with BDO LLP s natural resources department Worked with Main Market, AIM and ASX quoted oil and mining companies with exploration and production assets David Brecknock Drilling Manager 22 years experience Expert deepwater drilling manager Managed deepwater and ultra-deepwater drilling operations in Morocco, Brazil, Cote d Ivoire, Gabon and Egypt Additional international experience in UKCS, Ireland, Italy, Bulgaria, omania, Greece, Israel, Thailand, Myanmar, Peru Duncan Wallace Exploration Manager Over 15 years experience in exploration and production. Held a wide variety of technical and management positions, focused largely on the African Atlantic margin and Andean foreland basins in Latin America. Manages exploration activity and partnering processes and is responsible for the identification and evaluation of new acreage and farm-in opportunities Over 25 years of experience in the oil and gas industry A Senior Geophysicist with a specialisation in the seismic acquisition, processing and quantitative geophysical analysis in the interpretation and evaluation of 2D and 3D seismic programmes as well as the assessment of new opportunities Over 25 years of experience in the business development, commercial and financial aspects of the upstream oil and gas sector. Expertise in negotiating oil and gas sales agreements and undertaking financial and commercial analysis for business development Julia Kemper Principal Geophysicist Alex Green Commercial Manager Chariot team has a complement of 10 subsurface professionals 20

The Non-Executive Team George Canjar, Non-Executive Chairman Over 35 years with Shell, Carrizo Oil & Gas and Davis Petroleum supervising exploration & seismic operations; deep offshore W. Africa and the Gulf of Mexico. Specific expertise in deal structuring, portfolio development, risk analysis and strategic modelling. Broad experience in the E&P sector as well as a variety of corporate activity. Currently Director of New Business Development for Hess Corporation. Adonis Pouroulis, Non-Executive Director Extensive experience in the exploration and mining sector, primarily on the African continent. Expertise lies in the discovery and exploration of natural resources and bringing them into production. Founded and listed Petra Diamonds (LSE: PDL) in 1997 a FTSE 250 company and one of the largest independent diamond producers in Africa today. Co-founder of Chariot and a founder of Pella esources. obert Sinclair, Non-Executive Director Managing Director of Artemis Trustees Limited, a Guernsey-based fiduciary services group. Over 45 years experience in finance and accountancy, of which over 39 have been spent in the Guernsey financial services industry. Extensive experience of offshore trusts and corporate entities and financial planning for both individuals and corporations. 21

Team Track ecord Over 200 years of experience in exploration, development and production. Participated in the evaluation, access and interpretation leading to the discovery of over 40 fields with 14 major discoveries. Management team with a track record of securing funding and delivering exploration success. History for accessing quality acreage ahead of the Industry. 31 Countries with Operator exploration experience within the Chariot team 11 Countries with Operator development and production experience within the Chariot team 22

isk Management Strategy ACCESS DE-ISKING Secure large acreage positions in new and emerging basins Take operated position in the early phases to maintain control over destiny Build a diversity of basins and plays etain broad portfolio and risk profile VALUE CYCLE Position the portfolio as a Fast Follower Apply appropriate risk reduction technologies Levered partnering at investment phases Maintain portfolio diversity and management Maintain Capital Discipline DILL Build a drill-ready inventory: 3 drill-ready prospects in Morocco; 2 drill-ready prospects in Namibia Accelerate the drilling programme: D-1 Q1 2018 ; Prospect S* H2 2018 ; Kenitra-1* H1 2019 eturn transformational shareholder value by the early monetisation of discoveries * Subject to funding 23

Progress to date Acquired C-19 Mauritania Acquired BA-M- 292,293,313,314 Brazil Acquired Mohammedia econ Morocco e-award Central blocks Namibia Acquired Mohammedia & Kenitra Morocco Acquired Loukos, Casablanca/Safi and abat Deep Morocco elinquished Casablanca Morocco elinquished Northern Blocks, Namibia elinquished Loukos, Morocco elinquished C-19, Mauritania Option Southern Blocks, Namibia 3,500km² 3D Central blocks, Namibia 3,500km² 3D Mauritania 2,128km 2D 2714B Namibia 1,700km² 3D Morocco 1,700km 2D Central blocks, Namibia 2,600km² 3D Central blocks, Namibia 775km² 3D Brazil 1,027km² 3D 2,254km 2D Morocco CP on 2D of all Blocks, Namibia CP on Central Blocks 3D Namibia CP on Moroccan 2D CP on Mauritanian 3D CP audit on Moroccan 3D Farm-in Petrobras 2714A Namibia Farm-ins BP (2714A) and PGS (Central blocks) Namibia Farm-in Cairn C-19 Mauritania Farm-in Woodside abat Deep Morocco Farm-in Eni abat Deep Morocco Tapir South well Northern Blocks, Namibia Kabeljou well 2714A, Namibia 2011 2012 2013 2014 2015 2016 2017 Placing raises US$140 million Placing raises US$48.7 million to part fund the drilling of Tapir South Placing raises US$14.0m to fund NV and Brazilian seismic programme Chariot was founded in 2008 with an IPO on AIM raising US$90m with a purely Namibia focused portfolio. 24

Countries MOOCCO: GDP: US$103.6 billion ; Annual Growth: 1.2% Population: 33.9 million; Inflation: 1.8% Major Industries: automotive parts; phosphate mining and processing; aerospace; food processing; leather goods; textiles; construction; energy; tourism Major trading partners: Spain; France; USA; China Constitutional monarchy; obust economy; Good trade relations Country risk profile: BBB- NAMIBIA: GDP: US$10.9 billion; Annual Growth: 1.1% Population: 2.4 million; Inflation: 6.7% Major Industries: meatpacking; fish processing; dairy products; beverages; mining (diamonds; lead; zinc; tin; silver; tungsten; uranium; copper) Major trading partners: South Africa; South Korea; Botswana; Switzerland Democracy; Good relations with neighbours; Encouraging international foreign investment Country risk profile: BBB- Atlantic Margins Explorer Chariot Morocco: Tax & oyalty: 31% Corporation Tax and CGT oyalty: Oil 7-10%, Gas 3.5-5% 10 year Corporation Tax Holiday on production Chariot Namibia: Tax & oyalty: oyalty: 5% 35% Corporation Tax and CGT 25%- Additional Profits Tax when I >15% Cash flow after Corporation Tax Chariot Brazil: BAZIL: GDP: US$1.7 trillion; Annual Growth: 3.6% Population: 207.3 million; Inflation: 8.7% Major Industries: textiles; shoes; chemicals; cement; lumber; iron ore; tin; steel; aircraft; motor vehicles and parts; other machinery and equipment Major trading partners: China; USA; Argentina; Netherlands Democracy; Significant player in world markets; Diverse economy Country risk profile: BB South Atlantic 100 Ma econstruction Sources: CIA World Factbook (2016/2017 estimates); FCO; Standard and Poor s; Fitch Group; http://globaledge.msu.edu/countries/namibia/tradestats 25 Tax & oyalty: oyalty: 10% 34% Corporate Income Tax and CGT ~15% indirect value added taxes on Opex & Capex and other minor taxes and fees Special Participation Tax depending on water depth and production rates

Chariot portfolio and our neighbours MOOCCO Chariot s Portfolio transposed on to southern UK BAZIL 26

Portfolio maturity Contract Area Acquired Working Interest Approximate Licence Area (km 2 ) Operator Ongoing Commitments Significant Seismic Acquisition To Date Drill eady (subject to Partnering) Namibia offshore Central Blocks 2312, 2412A 2014 65% AziNam 20% 16,800 Chariot None 3000km 2D; 3500km 2 3D; 1700km 2D; 2600km 2 3D Partnering Process underway Morocco offshore abat Deep 2012 10% Eni 40% (Op.) Woodside 25% 6,738 Eni 1 exploration well 1075km 2 3D Mohammedia 2016 75% 4,654 Chariot None 375km 2 & 318km 2 3D 2254km 2D Eni farm-out process completed Partnering Process underway Kenitra 2017 75% 1,400 Chariot None 710km 2 3D Brazil offshore BA-M-292, 293, 313, 314 2013 100% 768 Chariot None 775km 2 3D Partnering Process underway Anticipated 2020 27

Prospect Inventory Netherland Sewell and Associates Inc. ( NSAI ) Chariot Internal Estimate* Morocco: Namibia: All Prospective esource ( P ) estimates are gross and based on the evaluation of 3D seismic data 28

Exploration investment, Production and eserve replacement Change in organic upstream capex for NOC s, IOC s and Independents (%YOY) Annual Production (mmboe) Oil Production by region mmbbls/day ~33 Bbbls pa eserves (Bboe, bar) eserves life* (years, line) Discovered conventional resources BP Statistical eview of World Energy June 2016 2000 2005 2010 2015 29