Enauta Participações S A : 1Q23 Webcast Presentation

May 11th, 2023

1Q23 Earnings Presentation

Disclaimer

This document contains certain statements and information relating to Enauta that reflect current vision and/or expectation of the Company and its management concerning its business performance and in future events. Certain statements and information are based on estimates, projections, they indicate or imply results, performance or future achievements, and may contain words, such as "believe", "estimate", "expect", "envisage", "probably will result" or other similar words or expressions. These statements are subject to various risks, uncertainties and assumptions.

We warn that several relevant factors may cause actual results to significantly differ from plans, objectives, expectations, estimates and intentions expressed herein, so that we cannot guarantee that projections or conclusions mentioned herein will occur and/or be materialized. Under no circumstances shall the Company or its board members, officers, representatives or employees be liable towards any third party (including investors) for decision or acts of investment or business made based on information and statements contained herein, nor for indirect damages, loss of profit or similar event.

The Company does not intend to provide shareholders with a review of statements or analysis of differences between statements and actual results, as well as does not undertake to update or review this presentation upon new information and/or future events.

This presentation does not contain all the information required for a complete evaluation of investments in the Company. Each investor should make their own evaluation, including related risks, in their investment- related decision.

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1Q23 Highlights

• Startup of new 5H well, within the expected timeframe
• Accumulated production of 25 million barrels in five years of the Atlanta Field's operation
• Revenue of R$445.7 million, with a gross margin of 47.8%
• Total production of 1.4 million boe
• Chartering costs lowered by nearly USD130 thousand/day, year-over-year
• EBITDAX of R$340.9 million, with an EBITDAX margin of 76.5%
• Net income of R$118.4 million, a R$216.7 million year-over-year increase
• Declared dividends of R$0.15 per share
• Capex of USD107.7 million, of which USD71.2 million were allocated to the FDS
• FDS project schedule and budget of USD1.1 billion until the 1st oil, by mid-2024, remain unaltered

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1Q23 Highlights

Startup of new well

5H

On schedule and

on budget

Potencial of production

>15 kbbl/day

Starting in May, aiming to extend the lifespan of the subsea pumps, the Company

has decided to limit their

flow rate to

• 9 kbbl/day

EPS: 5 years of operation, with 25 million bbl produced

FPSO Petrojarl I contractual renewal gives comfort to the Company, in terms of liquidity, during the two-systems transition process

Production & EBITDAX (% Enauta)

6.782

													6.441
5.130
												5.005
				3.795
				3.461			3.141			3.306 3.365	3.358
							2.496			2.658
1.462								2.045
												942
					1.249
															442
			575
2018	2019		2020	2021	2022	1Q23
		Atlanta production (thousand bbl)			Manati production (thousand boe)		Accumulated EBITDAX (R$ MM)

LANDMARK OF

25 MILLION BARRELS PRODUCED

IN THE ATLANTA FIELD (SINCE 2018)

Test oil characteristics, also behavior of the Atlanta Field's reservoir to

EPS	support investment decision in the FDS
Objectives	Generate operating cash during the two-systems transition process