MEETING // 14 May 2014 Strategy Our strategy is to grow - PowerPoint PPT Presentation

ANNUAL GENERAL MEETING // 14 May 2014

Strategy Our strategy is to grow shareholder value through investment in high quality projects within a disciplined financial framework. We seek to maintain the highest standards of corporate responsibility. 14 May 2014 // Page 1

Five year track record 5 year average return on capital of 14% 14 May 2014 // Page 2

Production and development West Telesto on Dua Roll up of Solan jacket Pelikan project Offtake Floating Storage Tension Leg Tanker & Offloading Platform Gas Disposal Wells Catcher project Sea Lion project 14 May 2014 // Page 3

Exploration 2013 • 6 successes from 7 exploration wells – 40 mmboe of resource added – Finding costs $5.3/boe (pre-tax) • >800 mm of prospective resource added • Portfolio management 2014 • Oil and gas discovery at Kuda Laut • Gas discovery at K-36 in Pakistan • Singa Laut and Ratu Gajah drilling 2013 drilling success rate of >80% 14 May 2014 // Page 4

Outlook • Significant growth in cash flow Cash Flows (Current Oil Prices) generation – Focus investments on our highest return projects – Sustained distributions to shareholders • Deliver our development projects • Reduce capital exposure to the Sea Lion project • Ongoing disposal programme • Prioritise balance sheet strength 2013 2014 Post Solan Post Catcher and financial flexibility 14 May 2014 // Page 5

RESOLUTIONS//

Resolution 1 Adoption of the Report of Directors, the Auditor’s Report, and the Financial Statements for the year ended 31 December 2013 For Against Withheld Votes % Votes % Votes 337,324,714 99.90 331,070 0.10 1,060,758 14 th May 2014 // Page 7

Resolution 2 Declaration of a final dividend of 5 pence per Ordinary Share for the year ended 31 December 2013 For Against Withheld Votes % Votes % Votes 336,162,667 99.46 1,829,259 0.54 724,616 14 th May 2014 // Page 8

Resolution 3 Approval of the Annual Report on Remuneration for the year ended 31 December 2013 For Against Withheld Votes % Votes % Votes 331,325,251 98.56 4,850,298 1.44 2,540,993 14 th May 2014 // Page 9

Resolution 4 Approval of the Directors’ Remuneration Policy For Against Withheld Votes % Votes % Votes 289,525,378 86.12 46,648,769 13.88 2,542,395 14 th May 2014 // Page 10

Resolution 5 Re-election of Mr R A Allan as a Director For Against Withheld Votes % Votes % Votes 336,016,402 99.43 1,933,687 0.57 766,453 14 th May 2014 // Page 11

Resolution 6 Election of Dr S A D Bamford as a Director For Against Withheld Votes % Votes % Votes 337,566,169 99.89 377,220 0.11 773,153 14 th May 2014 // Page 12

Resolution 7 Election of Mrs A M Cannon as a Director For Against Withheld Votes % Votes % Votes 337,570,097 99.89 375,161 0.11 771,284 14 th May 2014 // Page 13

Resolution 8 Re-election of Mr J Darby as a Director For Against Withheld Votes % Votes % Votes 333,957,129 98.82 3,984,412 1.18 775,001 14 th May 2014 // Page 14

Resolution 9 Re-election of Mr A R C Durrant as a Director For Against Withheld Votes % Votes % Votes 334,353,291 98.94 3,595,509 1.06 767,742 14 th May 2014 // Page 15

Resolution 10 Re-election of Mr N Hawkings as a Director For Against Withheld Votes % Votes % Votes 336,021,372 99.43 1,927,316 0.57 767,854 14 th May 2014 // Page 16

Resolution 11 Re-election of Ms I J Hinkley as a Director For Against Withheld Votes % Votes % Votes 336,487,361 99.57 1,439,219 0.43 789,962 14 th May 2014 // Page 17

Resolution 12 Re-election of Mr D C Lindsell as a Director For Against Withheld Votes % Votes % Votes 333,609,505 98.82 3,989,007 1.18 1,118,030 14 th May 2014 // Page 18

Resolution 13 Re-election of Mr S C Lockett as a Director For Against Withheld Votes % Votes % Votes 306,942,624 90.83 30,984,579 9.17 789,339 14 th May 2014 // Page 19

Resolution 14 Re-election of Mr A G Lodge as a Director For Against Withheld Votes % Votes % Votes 336,024,573 99.43 1,924,511 0.57 767,458 14 th May 2014 // Page 20

Resolution 15 Re-election of Mr M Romieu as a Director For Against Withheld Votes % Votes % Votes 332,736,831 98.46 5,212,678 1.54 767,033 14 th May 2014 // Page 21

Resolution 16 Re-election of Mr M Welton as a Director For Against Withheld Votes % Votes % Votes 332,170,896 98.29 5,762,584 1.71 783,062 14 th May 2014 // Page 22

Resolution 17 Re-appointment of Deloitte LLP as auditor For Against Withheld Votes % Votes % Votes 326,163,353 97.70 7,667,136 2.30 4,886,053 14 th May 2014 // Page 23

Resolution 18 Remuneration of the Auditor For Against Withheld Votes % Votes % Votes 332,355,013 98.34 5,621,841 1.66 739,688 14 th May 2014 // Page 24

Resolution 19 Authority to allot relevant securities pursuant to s551 of the Companies Act 2006 For Against Withheld Votes % Votes % Votes 322,372,044 95.40 15,557,009 4.60 787,489 14 th May 2014 // Page 25

Resolution 20 Authority to allot equity securities pursuant to s571 of the Companies Act 2006 For Against Withheld Votes % Votes % Votes 332,374,757 98.35 5,572,484 1.65 769,301 14 th May 2014 // Page 26

Resolution 21 Authority to make market purchases of Ordinary Shares For Against Withheld Votes % Votes % Votes 315,216,213 93.27 22,738,664 6.73 761,665 14 th May 2014 // Page 27

Resolution 22 Authority to call general meetings by notice of at least 14 clear days For Against Withheld Votes % Votes % Votes 307,347,583 90.94 30,607,108 9.06 761,850 14 th May 2014 // Page 28

www.premier-oil.com 14 th May 2014