Armour Energy : 18 December 2020 - CEO Presentation to AGM

Armour Energy

Annual General Meeting

18 December 2020

CEO Presentation

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COMPLIANCE STATEMENT

Disclaimer

This investor presentation has been prepared by Armour Energy Limited ACN 141 198 414 (Armour or the Company).

Any material used in this presentation is only an overview and summary of certain data selected by the management of Armour. The presentation does not purport to contain all the information that a prospective investor may require in evaluating a possible investment in Armour nor does it contain all the information which would be required in a disclosure document prepared in accordance with the requirements of the Corporations Act and should not be used in isolation as a basis to invest in Armour. Recipients of this presentation must make their own independent investigations, consideration and evaluation of Armour. Armour recommends that potential investors consult their professional advisor/s as an investment in Armour is considered to be speculative in nature.

This presentation contains "forward looking statements" concerning the financial condition, results of operations and business of Armour. All statements other than statements of fact or aspirational statements, are or may be deemed to be "forward looking statements". Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "continue", "outlook", and "guidance", or other similar words & may include, without limitation, statements regarding plans, strategies and objectives of management, future or anticipated production or construction commencement dates and expected costs, resources or reserves, exploration results or production outputs.

Assumptions

Forward looking statements are statements of future expectations that are based on management's current expectations and assumptions, known and unknown risks and uncertainties that could cause the actual results, performance or events to differ materially from those expressed or implied in these statements. These risks include, but are not limited to price fluctuations, actual demand, currency fluctuations, drilling and production results, commercialisation reserve estimates, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory developments, economic and financial market conditions in various countries and regions, political risks, project delay or advancement, approvals and cost estimates.

Statements in this presentation are made only as of the date of this presentation unless otherwise stated & the information in this presentation remains subject to change without notice. Reliance should not be placed on information or opinions contained in this presentation. To the maximum extent permitted by law, Armour disclaims any responsibility to inform any recipient of this presentation on any matter that subsequently comes to its notice which may affect any of the information contained in this document and presentation and undertakes no obligation to provide any additional or updated information whether as a result of new information, future events or results or otherwise.

No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions contained in or derived from this presentation or any omission from this presentation or of any other written or oral information or opinions provided now or in the future to any person. To the maximum extent permitted by law, neither Armour nor, any affiliates, related bodies corporate and their respective officers, directors, employees, advisors and agents (Relevant Parties), nor any other person, accepts any liability as to or in relation to the accuracy or completeness of the information, statements, opinions or matters (express or implied) arising out of, contained in or derived from this presentation or any omission from this presentation or of any other written or oral information or opinions provided now or in the future to any person

Competent Persons Statement

Statements in this presentation as to gas and mineral resources has been compiled from data provided by Armour's Chief Operating Officer, Mr Michael Laurent. Mr Laurent's qualifications include being a professionally registered engineer in both Australia and Canada, has over 20 years of diverse oil and gas industry experience and has successfully held various senior managerial and GM positions. His career spans a number of sectors and includes expertise in reservoir, drilling, facilities, production and operations with particular emphasis on resource and business development. Experience is underpinned with strong strategic, commercial and technical acumen in both conventional and unconventional reservoirs. Prior to joining Armour Energy, Michael successfully held a variety of domestic and international technical leadership appointments. Most recently he worked for Santos where he was responsible for managing Cooper Basins oil and gas appraisal/development wells and field optimisation initiatives from inception through to approval and implementation. Mr Laurent has sufficient experience that is relevant to Armour's reserves and resources to qualify as a Reserves and Resources Evaluator as defined in the ASX Listing Rules. Mr Laurent has consented to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Authorisation

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This presentation and announcement has been authorized by the Board of Directors of Armour Energy Limited

PRIMED FOR GROWTH

AND FOCUSED ON

DELIVERY

• Vast prospective acreage in proven fairways
• Deep multi-TCF resource project & prospects pipeline
• Material reserves with growth from overlooked pay
• Long life production with near-term growth & activity
• Operator with significant infrastructure & capacity
• Well-establishedpathways to premium markets
• Clear priorities & focused on delivery
• Proven CEO to drive strategy & committed to

execution	3

BOARD AND MANAGEMENT

Nicholas Mather	Stephen Bizzell	Brad Lingo	Karl Schlobohm
Chief Executive Officer	Company Secretary
Executive Chairman	Non-Executive Director

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Ronald Sleeman	Eytan Uliel	Michael Laurent	Toni Hawkins
Non-Executive Director	Non-Executive Director
Chief Operating Officer	Chief Financial Officer