Announcement PDF Investor Presentation A European Gas Producer January 2026 ASX: PVE | OTCQB: PVLEF ASX: PVE | OTCQB: PVLEF 2 DISCLAIMER This presentation is for informational purpose only and does not constitute an offer to sell and should not be considered as an invitation or recommendation to purchase securities in Po Valley Energy Limited. Such Offer can be made only through proper subscription documentation and only to investors meeting strict suitability requirements. Any failure to comply with these restrictions may constitute a violation of applicable securities laws. In providing this presentation Po Valley Energy has not considered the financial position or needs of the recipient. Persons needing advice should consult their stockbroker, bank manager, solicitor, attorney, accountant or other independent financial and legal advisors. Please be advised that any opinions, forecasts, or estimates regarding the performance of Po Valley Energy Limited provided by analysts are solely those of the analysts and do not represent the views, expectations, or predictions of Po Valley Energy Limited or its management. The reference to such analysts by Po Valley Energy Limited does not constitute an endorsement of, or agreement with, their perspectives. SUMMARY INFORMATION This presentation contains summary information about the current activities of Po Valley Energy and its subsidiaries as at the date of this Presentation and does not purport to be all inclusive or to contain all information which its recipients may require or purport to contain all the information required that an investor should consider when making and investment decision nor does it contain all the information which would be required in a disclosure document or prospectus prepared in accordance with the requirements of the Corporations Act. It should be read in conjunction with Po Valley Energy’s other periodic and continuous disclosure announcements lodged with the ASX which are available at www.asx.con.au/markets/company/pve. Neither Po Valley Energy nor its directors, employees or advisers give any warranties in relation to the statements and information in this Presentation.. The views expressed within this document are solely those of Po Valley Energy Limited. FORWARD LOOKING STATEMENTS This presentation contains statements related to our future business and financial performance and future events or developments involving Po Valley Energy Limited (‘PVE’ or “the Company’) that may constitute forward looking statements. All statements, other than statements of historical fact, that refer to any future oil and gas production, resources or reserves, exploration results and events that the Company expects to occur are forward-looking statements. Although the Company believes the expectations in these forward-looking statements are based upon reasonable assumptions, such statements are not a guarantee of future performance and actual results or developments may differ materially from the outcomes anticipated. This may be due to several factors, including market prices, exploration and exploitation success, and the continued availability of capital and financing, plus general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance, and actual results or performance may differ materially from those projected in the forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise. RESERVES AND RESOURCES Po Valley Energy Limited (ASX:PVE) provides the following additional information to this Presentation: 1. The estimates of Reserves, Contingent and Prospective Resource included in the Presentation are estimates reported in the Competent Persons Report (CPR) dated 25 July 2022 issued by CGG Services UK Limited (CGG) and as per the ASX announcement of 26 July 2022 and are pre-production reserves. 2. All estimates, except for those relating to Teodorico, have been determined using a deterministic method. Estimates for Teodorico have been determined using a probabilistic method. 3. Where reported, aggregated Reserves and Contingent Resources are aggregated by arithmetic summation by category. 4. In relation to Prospective Resources reported in the Presentation on slides 6,10,14 and 15: Prospective Resources are the estimated quantities of petroleum that may potentially be recovered by the application of a future development project(s) relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further exploration appraisal and evaluation is required to determine the existence of a significant quantity of potentially moveable hydrocarbons. 5. The Company confirms it is not aware of any new information or data that materially affects the information included in the original market announcements referred to in this presentation and, in the case of estimates for petroleum reserves, contingent resources and prospective resources, all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not materially changed from the original market announcements. Important Notices and Disclaimer ASX: PVE | OTCQB: PVLEF 3 Po Valley Energy WHO WE ARE • Lean, efficient, no-nonsense local management team • Highly experienced in obtaining and operating exploration and production assets in the Italian oil and gas industry. • Strong alignment with shareholders at 33% insider ownership • European natural gas producer with multiple assets in Italy • HQ in Australia and an operating office in Rome • Cash flow positive since 2023 from production at the Selva Malvezzi asset in northern Italy • Strong Balance Sheet: High FCF, healthy cash position. • Consistent Results: Gas production is stable since the well start-up in 2023 (80k Scm/d) with very low cost of sales. • Ambitious growth: New wells targeted to be drilled starting in 2027 at the flagship asset (Selva Malvezzi Production Concession) with potential incremental production OUR TEAM WHY INVEST Refer to June 2025 Quarterly Announcement on the ASX dated 31 July 2025. Image 1 : Podere Maiar -1 Well Site during drilling phase ASX: PVE | OTCQB: PVLEF Capital Structure 4 Market Data *As reported 30 September 2025 Stuart Baker Ticker ASX: PVE OTCQB: PVLEF Share price (Close at January 16, 2026) A$0.060 US$0.050 Market Cap (January 16, 2026) A$69.5m US$57.9m Share Structure Shares Outstanding 1,158.96m Options, Warrants Nil Fully Diluted Shares Outstanding* 1,158.96m Ownership Analyst Coverage Share Price Chart – 12 Months 33% 19% 10% 7% 3% 28% Insiders • Kevin Bailey 26% • Michael Gentile 4% • Joseph Constable 3% Michael Masterman Beronia Investments & Associates Paul Lambert & Associates Laurence Macri Float DISCLAIMER Please be advised that any opinions, forecasts, or estimates regarding the performance of Po Valley Energy Limited provided by analysts are solely those of the analysts and do not represent the views, expectations, or predictions of Po Valley Energy Limited or its management. The reference to such analysts by Po Valley Energy Limited does not constitute an endorsement of, or agreement with, their perspectives. ASX: PVE | OTCQB: PVLEF Board and Management Team Kevin Bailey AM Chairman and CEO Kevin joined the Board in 2016, became Chairman in 2022, and CEO in 2025. A shareholder since 2008, he brings extensive business experience, including roles on several boards such as the Timor- Leste Petroleum Fund. Sara Melinda Edmonson Non-Executive Director Sara joined the Board in 2019 and previously led PVE from 2010 to 2017. She brings deep gas sector and international advisory experience and is a former President of Associazione Energia Nazionale. Joseph Constable Non-Executive Director Joseph joined the Board in 2021 and is a long-term shareholder with deep knowledge of PVE’s assets. Experienced investor and company director; former Portfolio Manager at Hancock & Gore Ltd Katrina O'Leary Non-Executive Director Katrina joined the Board in 2022. An experienced IP and IT lawyer, she advises on ESG compliance and has worked internationally. She brings legal compliance, governance, and risk management expertise to the Board. Michael joined the Board in 2024. A leading Canadian strategic investor, he co-founded Bastion Asset Management and brings deep capital markets expertise from his extensive experience in mining and portfolio management. Michael Gentile Non-Executive Director Giorgio Bertuzzi Exploration & New Projects Manager Giorgio has 46 years’ experience in oil and gas, including 31 years at ENI/Agip, with exploration and management roles in Italy and Africa. Gianluca De Rosa Senior Geophysicist & Team Leader Gianluca joined in 2008 with over 30 years in oil and gas, including 10 years at Eni specializing in upstream exploration across onshore, offshore, gas, and deep oil projects. Pier Paolo Poncia Senior Geologist Pier Paolo joined in 2010 and has 25 years’ experience in geology, structural monitoring, GIS, and oil & gas exploration. He previously worked on major Italian transportation infrastructure projects. Diego Balistreri Development and Production Manager Diego, started his career in 1978 with ENI and later worked at Elf Aquitaine and Enterprise Oil. Since joining Po Valley in 2011, he has managed development and production of multiple gas fields, currently overseeing Podere Maiar. Daria Fortunati Geologist Production Manager An experienced Geologist & Production Manager that is knowledgeable with Italian compliance reporting, external and government relations. Manuel Porcelli General Manager Appointment as General Manager in December 2025: seasoned executive with 20 years of extended Contract, Project and Financial Management experience in the Energy sector in Italy and abroad. 5 ASX: PVE | OTCQB: PVLEF 6 Po Valley Energy Asset Portfolio Reserves and Resources Summary (100%)1 Gas Reserves (2P) 48,1 bcf Contingent Resources (2C) 32,1 bcf Prospective Resources (Best) 607,5 bcf Production to date (as at Dec 2025) 2,3 bcf Oil Contingent Resources (2C) 43 MMbbl Prospective Resources (Best) 55 MMbbl *Selva Malvezzi: PVE 63% ownership. JV partner Prospex Energy PLC * 1 Contingentand Prospective Resources are not reserves and may not be developed. Total aggregated Reserves and Resources are aggregated by arithmetic summation by category. The table above represents 100% of Reserves and Resources. Reserves and Resources in relation to Selva Malvezzi concession Net to PVE are 63% of the gross amounts shown*. Reserves and Resources per CGG CPR (July 2022) Refer to ASX Announcement 26 July 2022 adjusted for cumulative production up to 31 December 2025. Prospective Resources are the estimated quantities of petroleum that may potentially be recovered by the application of a future development project(s) relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further exploration appraisal and evaluation is required to determine the existence of a significant quantity of potentially moveable hydrocarbons. ASX: PVE | OTCQB: PVLEF Selva Malvezzi Asset Overview • 1 well in production since 2023 (Podere Maiar 1d) • 4 new wells targeted to be drilled to unlock potential additional FCF* 7 *Main dependencies: - 3D Geophysical survey results - EIA Ministry approval - No major negative impact to current business case economics Image: PM1- Production facility ASX: PVE | OTCQB: PVLEF Key Financials 8 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Quarterly production (‘000 Scm) 4,023 4,306 4,421 4,614 4,236 4,574 4,566 4,392 Weighted average price (per Scm) € 0.30 € 0.34 € 0.39 € 0.46 € 0.50 € 0.39 € 0.37 € 0.33 Revenue (‘000) € 1,201 € 1,456 € 1,737 € 2,129 € 2,103 € 1,805 € 1,689 €1,450 Field Operating costs (‘000)2 € 146 € 174 € 179 € 162 € 196 € 126 € 146 €276 Quarterly Cashflow from production (‘000)3 € 1,011 € 1,201 € 1,511 € 1,733 € 2,001 € 1,1364 € 1617 € 1,200 G&A and Other costs (‘000) €144 €171 €2955 € 6225 € 303 € 222 € 5875 €3415 Exploration or development expenditure (‘000) €9 €25 €168 €273 €124 €36 €22 €860 Cash at End of Period (‘000) € 2,108 € 3,114 € 4,159 € 4,994 € 6,567 € 7,475 € 8,487 € 2,463 Investments in Short-term bonds(‘000) - - - - - - - € 6,000 Debt Nil Note: All figures in the table above are quoted on a net-63%share to PVE 1. Refer to Quarterly Announcements released on the ASX on or around 30 April, 31 July, 31 October and 30 January 2. Cash outflows field operating costs per quarter excludes accrued royalties 3. Net cash from production before staff and administration costs. 4. Includes impact of royalties paid of €616k which relate to FY2024. 5. Includes provisional and regional taxation payments : of € 32k Q3/24; € 44k Q4/24 ,€ 209k Q3/25 and € 106k Q4/25 ASX: PVE | OTCQB: PVLEF Selva Malvezzi Key Milestones 9 ✓ Geology and geophysics work programs and drilling programs on 4 new wells: Casale Guida 1d, Ronchi 1d, Bagnarola 1d, Selva Malvezzi 1d Perform 3D geophysical survey over the whole Production Concession Process and interpret 3D geophysical data Submit EIA (Environmental Impact Analysis) for drilling and development Receive Ministry approval (EIA Decree) ✓ In Progress (Expected Q2 2026) In Progress (Expected Q2 2026) ✓ Estimated 2027 Podere Maiar well built on time and on budget 2023 2025-onward ✓ Consistent execution Ongoing Maintain steady production at Podere Maiar 1d generating cash revenues ASX: PVE | OTCQB: PVLEF 10 Secure permits and funding for growth potential Data shown in the tables is based on 100%; Net to PVE is 63% of data shown. Future potential development or production is contingent on 3D Seismic confirmation of contingent and prospective resource estimates. Podere Maiar 1d production based on historic production volumes and profile Selva Malvezzi Production status and potential expansion 1-2 years 2-3 years 10-20 years Best Prospective Resources 34.8 bcf Best Prospective Resources 38.8 bcf 2C Contingent Resources 14.1 bcf Prospective Resources are the estimated quantities of petroleum that may potentially be recovered by the application of a future development project(s) relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further exploration appraisal and evaluation is required to determine the existence of a significant quantity of potentially moveable hydrocarbons. budgeted COSTS- CAPEX (m €) 14.00 26.13 ASX: PVE | OTCQB: PVLEF Other Assets – Additional Growth Potential 11 Project Owner ship Location Stage Prospects/targets Options Teodorico 100% Offshore Production Concession application Two gas discoveries in shallow water (35 m) drilled and tested by the former operator ENI (Carola 1, Irma 1) in multilayers Pleistocene sand (1300- 1600 m) - Sell to a major offshore operator - Secure JV partner through a farm- in arrangement - Sell asset while retaining royalty Status: under evaluation Cadelbosco di Sopra 100% Onshore Exploration Licence Quaternary and Pliocene sandy gas targets (1000-1300 m) /deep Eocene- Oligocene limestones oil discoveries (4500m) Introduction of third-party investors/partners interested in participating in development of the asset. Status: under evaluation Grattasasso 100% Onshore Exploration Licence Deep Eocene limestones oil discoveries (4500m) Torre del Moro 100% Onshore Exploration Licence Faulted anticline trap in Lower Cretaceous limestone (3500-4000 m) Optionality available ASX: PVE | OTCQB: PVLEF 12 Investment summary Selva Production providing stable free cash flows Strong Market conditions with growing demand for domestic gas supply for energy security Local management team with prior experience in the PVE assets and with bringing gas to market in Italy Aligned Board 33% insider ownership gives clear alignment with shareholders Growth Portfolio Potential path to incremental FCF with additional optionality Portfolio diversification and potential hedge 13 CONTACT US Po Valley Energy Ltd Kevin Bailey AM Chairman and CEO +61 (0) 417 556 458 Chairman@povalley.com Level 5, 191 St. Georges Terrace Perth WA 6000 www.povalley.com info@povalley.com ASX: PVE | OTCQB: PVLEF 14 Table of Reserves and Resources* Prospective Resources are the estimated quantities of petroleum that may potentially be recovered by the application of a future development project(s) relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further exploration appraisal and evaluation is required to determine the existence of a significant quantity of potentially moveable hydrocarbons. The Company confirms it is not aware of any new information or data that materially affects the information included in the original market announcements referred to in this announcement and, in the case of estimates for petroleum reserves, contingent resources and prospective resources, all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not materially changed from the original market announcement. * Gas Reserves and Resources by Field (as per CPR dated 25 July 2022 ASX announcement 26 July 2022) with the **exception of the Podere Maiar1 Reserves which are adjusted for depletion from PM1 cumulative net production from commencement of production to 31 December 2025. Gas Reserves and Resources*: Licence Project Reserves Contingent Resources Prospective Resources Gas Bcf 1P 2P 3P 1C 2C 3C Low Best High Selva Malvezzi (NET 63%) Selva (Podere Maiar1)** 1.14 6.97 17.36 Selva level A Ronchi-1d 0.7 1.1 2.3 Selva level B Casale Guida-1d 2.2 5.6 11.2 Selva level B Ronchi-1d 0.6 2.2 5.9 Fondo Perino 6.4 9.2 12.9 Selva Malvezzi 1d 18.3 21.9 25.6 Bagnarola-1d 8.2 24.4 81.2 d.40.AC-PY Teodorico 27 37 48 Teodorico 7.4 10.6 14.0 PL3-C 7.9 15.9 25.0 Cadelbosco di Sopra Zini (Qu-B) 1.1 2.7 4.6 Canolo (Qu-A) 0.7 1.1 1.7 Canolo (Plioc) 0.4 3.6 10.5 Zini (Qu-A) 0.6 1.4 2.4 Torre del Moro Torre del Moro 420.7 502 596.1 Oil Reserves and Resources**: Licence Project Reserves Contingent Resources Prospective Resources Oil MMbbl ** 1P 2P 3P 1C 2C 3C Low Best High Cadelbosco di Sopra Bagnolo in Piano 6.6 27.3 80.6 Bagnolo SW 22.1 54.5 112.0 Grattasasso Ravizza 2.8 16.1 41.6 ** The Oil resources were previously removed from the statement of Resources due to the “PITESAI” legislation in 2022 restricting activities on Oil discoveries. With that legislation now repealed, the above table now includes the original reported Resources as per the CPR dated 24 April 2019 (ASX announcement 26 April 2019). ASX: PVE | OTCQB: PVLEF PM-1 unlocks Selva Malvezzi upside potential – look alike prospects CGG CPR (July 2022) Refer to ASX Announcement 26 July 2022 Podere Maiar well (2P Reserve: 13.4 Bcf gross)1 • Producing well • Revenue generating Selva Malvezzi 1d prospect (Prospective Resource (best): 34.8 Bcf gross) 1 • Podere Maiar - 1 Well proved the concept that this prospective resource is based on the same play of Selva trend Selva levels A+B Prospects (Casale Guida 1d and Ronchi 1d wells) (2C Contingent Resource: 14.1 Bcf gross) 1 • Stratigraphic pinch-out prospects proved viable by successful Podere Maiar-1 well • Level A and B sands in mid-Pliocene reservoir Bagnarola 1d prospect (Prospective Resource (best): 38.8 Bcf gross) 1 • Lower pliocene sand target • Riccardina-1 well did not hit the structure • Structural trap on the footwall of a back thrust associated to Selva main thrust 1. Reserves and Resources Net to PVE are 63% of the gross amounts shown above : Podere Maiar Well Net 8.4 Bcf 2P Reserve (pre-production), Casale Guida 1d and Ronchi 1d wells Net 8.9 Bcf 2C Contingent Resource; Selva Malvezzi 1d prospect Net 21.9 Bcf Prospective Resource, Bagnarola 1d prospect Net 24.4 Bcf Prospective Resource CPR Prospective Resources are the estimated quantities of petroleum that may potentially be recovered by the application of a future development project(s) relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further exploration appraisal and evaluation is required to determine the existence of a significant quantity of potentially moveable hydrocarbons. 15 ASX: PVE | OTCQB: PVLEF 16 3D Geophysical Acquisition - November 2025 140km2 3D acquisition covering the whole concession area - Compressive sensing 3D (CS) fast acquisition technique (first time in Italy) - 5050 Source Points, 8700 WiFi Receiver Points, 1050 landowners/farmers involved - Recording phase (14 days), negligible environmental impact, no damages - Costs/time in line with planned budget Selva Malvezzi Production Concession 3D survey area