mmbbls: million of barrels bopd: barrels of oil per day FURTHER EXPLORATION AND DEVELOPMENT LPH’s portfolio in Germany contains additional oil discoveries, and also significant exploration targets. Both the Rhein River valley, and northern Germany have not had significant exploration activities in the past 20 years, thus there is potential for large discoveries by using modern exploration and drilling technology. LRG will look to develop the additional discoveries as well as evaluate exploration targets with an eye for cost efficient operations. 2025 OPERATIONS UPDATE • Commissioned a Competent Person’s Report (CPR) by Sproule ERCE which certified some 8.6 mmbbls of 2P reserves in the Erfelden Field, which also encompasses Schwarzbach, and 13.6 mmbbls of 2C resources, pending development in the Steig Field in the Rhine Valley. Furthermore, contingent resources of 4.5 mmbbls are certified for the Graben discovery. Four prospects have been defined, and significant additional prospectivity is defined beneath the main discovered reservoirs in the Steig and Graben Fields. • Finalised plan for further development of the Schwarzbach/ Erfelden Field i.e. to drill two production wells in Q4 2026, utilising existing well slots at the field’s production pad. These wells will immediately be put on production into the existing Schwarzbach production facilities. The two wells are expected to initially produce 200 bopd each, increasing to 600 bopd each in Q2 2027 when more advanced completions have been installed in the wells. This initial two-well programme will be followed by a larger drilling campaign to add more wells, to bring production up to the Schwarzbach facility’s capacity of 2,000 bopd. • Performed a work-over on the Schwarzbach 1 well, aiming to bring it back online in Q1 2026 with production of some 20 bopd, from the previous 12 bopd. • Obtained approval for the Main Operating Plan (Hauptbetriebsplan) for the Steig Field, in which LRG holds a 100 per cent interest and is the operator, from the Mining Authority (Landesamt für Geologie, Rohstoffe, und Bergbau) of Baden Württemberg. The approval is granted for a limited period until 31 May 2027. 40 Annual Report 2025
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