Elisabeth Femsteinevik

§ MaintainsignificantportfolioofProspectiveResources§ ParticipateinLicensingRounds

§ Grow2CContingentResources§ High-graded,high-qualityprogrammeofE&Awells

§ Optimumworkinginterestsandgoodsuccessrate

§ Grow2PReserves§ Participateindevelopmentprojects

§ Swap2Ccontingentfor2Preserves

§ GrowProfitableProduction§ Exploitmarketopportunitiesthroughacquisitions&swaps

§ Investinourproducingfieldswhereappropriate

§ Prudentfinancialmanagement§ Ensurebalancesheetstrengthatalltimes

EvolutionFaroe’s growth model – Building core value and scale

Faroesuccessfullyexecutingitsstrategy– balancesheetdisciplineensuresastronggrowthplatform

Currentproductionwith DONG

assets

Oda

NjordFutureProject

Brasse

PilandBue

Sources:Managementestimates

16 – 18mboepd

40 - 50mboepd

5yearoutlook

§ Organicandinorganicgrowth

§ Arobusteconomicalsituationimportanttobeabletoperformhighqualityworktogetaccesstohighqualityacreage

EvolutionCreating value through growth

Grafenerillustrativ

FaroeoperertFaroepartner

WelltargetCretaceousJurassicTriassic

§ Balancedportfolio– frontier/near-field

§ Coreareas

§ 3-4wellsayear

§ Focusonqualitytechnicalevaluations

§ Technology

EvolutionExploration strategy and portfolio

EvolutionResults from exploration

§ Sustainedexplorationdrilling

§ Sustainedexplorationsuccessrates

§ Consistentdeliveryofcommercialdiscoveries

§ Coreareascentraltosuccess

Novus

Solberg

NF2/3

Bue

Pil

Oda

Maria

T-Rex

Snilehorn

Rodriguez

Boomerang

Brasse

Skirne E

Fogelberg

EvolutionPL740 – Brasse results

§ Faroe(50%,operator),PointResources(50%)

§ Results

§ Maximumcolumninthediscoveryis24moiland30mgas

§ GoodqualityJurassicreservoirsandstonesanalogoustotheeffectivereservoirintheBrageproducingoilfield

§ Preliminaryestimatesof43-80mmboerecoverablevolumes:

§ recoverableoil:28-54mmbbl

§ recoverablegas:89-158bcf

§ Tie-backdevelopment– similardistancetoOsebergandBragefacilities

§ Optimalexploitationplanningunderway

EvolutionE&A drilling activity

Prospect EquityQ1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Brasse 50%

Brassesidetrack 50%

NjordNF2 7.5%

Dazzler/Bonè 20%

Oshun 20%

Brasseappraisal 50%

Fogelbergappraisal 25%

Aerosmith/Iris 20%

Cassidy 15%SouthEastTor 85%

2016 2017 2018

§ Continuedfocusonexploration

§ Highgradeprospects

EvolutionSummary

§ Consistentstrategy

§ Technologyandtechnicalworkofhighstandard

§ Bothfrontierandnear-fieldexploration

§ Continuetoidentifyexcitingopportunities

ThesematerialsdonotconstituteorformanypartofanyofferorinvitationtosellorissueorpurchaseorsubscribeforanysharesinFaroePetroleumplc(the“Company”)norshalltheyoranypartofthem,orthefactoftheirdistribution,formthebasisof, or bereliedoninconnectionwith,anycontractwiththeCompanyrelatingtoanysecurities.AnydecisionregardinganyproposedacquisitionofsharesintheCompanymustbemadesolelyonthebasisofpublicinformationontheCompany. Thesematerialsarenotintendedtobedistributedorpassedon,directlyorindirectly,toanyotherpersons.Theyareavailabletoyousolelyforyourinformationandmaynotbereproduced,forwardedtoanyotherpersonorpublished,inwholeorinpart,foranyotherpurpose.

Noreliancemaybeplacedforanypurposewhatsoeverontheinformationcontainedinthesematerialsorontheircompleteness.Anyreliancethereoncouldpotentiallyexposeyoutoasignificantriskoflosingallofthepropertyinvestedbyyouortheincurringbyyouofadditionalliability.Norepresentationorwarranty,expressorimplied,isgivenbytheCompany,itsdirectorsoremployees,ortheirprofessionaladvisersastotheaccuracy,fairness,sufficiencyorcompletenessoftheinformation,opinionsorbeliefs containedinthesematerials.Saveinthecaseoffraud,noliabilityisacceptedforanyloss,costordamagesufferedorincurredasaresultoftherelianceonsuchinformation,opinionsorbeliefs.

Certainstatementsandgraphsthroughoutthesematerialsare“forward-lookingstatements”andrepresenttheCompany’sexpectationsorbeliefsconcerning,amongotherthings,futureoperatingresultsandvariouscomponentsthereof,includingfinancialcondition,resultsofoperations,plans,objectivesandestimates(includingresourceestimates),theCompany’santicipatedfuturecash-flowandexpenditureandtheCompany’sfutureeconomicperformance.Thesestatements,whichmaycontainthewords“anticipate”,“believe”,“intend”,“estimate”,“expect”andwordsofsimilarmeaning,reflectthedirectors’beliefsandexpectationsandinvolveanumberofrisksanduncertaintiesastheyrelatetoeventsanddependoncircumstancesthatwilloccurinthefuture.Forward-lookingstatementsspeakonlyasatthedateofthesematerialsandnorepresentationismadethatanyofthesestatementsorforecastswillcometopassorthatanyforecastresultswillbeachieved.TheCompanyexpresslydisclaimsanyobligation toupdateorreviseanyforward-lookingstatementsinthesematerials,whetherasaresultofnewinformationorfutureevents.

IfyouareconsideringbuyingsharesintheCompany,youshouldconsultapersonauthorisedbytheFinancialConductAuthoritywhospecialisesinadvisingonsecuritiesofcompaniessuchasFaroePetroleumplc.

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