Exhibit 99.1

G r een la n d E ne r g y Compan y A Ne w En erg y Fronti e r T h r o u g h bu si n e ss a c c o mm o d a t ion ag r ee m e n t P e li c a n A cqu isi t io n , G r ee n l a nd E x p lo r a t io n , a n d Ma r c h GL C o mp a n y s h a ll m e r g e i n t o G r ee n l a n d E n e r g y C o mp a n y .

Th i s p r e s ent a t i o n (th i s “ P r e s e n t a t i on ”) i s b e i n g f u r n i s h e d f o r t h e e x c l u s i v e u s e o f , a n d s o l e l y f o r t h e pu r po s e o f a ss i s t i n g , t h e p a r t i es ( s uc h p a r t i e s , to g ether w i th t h e i r s ub s i d i a r i es a n d a ff ili a te s , t h e “ Re ci p i e n t s ”) to who m i t i s a d d r e s s ed i n ma k i ng t h e i r i nd e p end e n t e va l u a t i o n w i th r e s pe c t to a p r opo s e d bu s in e s s c omb i n a t i o n (t h e “ B u s in e s s C omb i n a t i on ”) b y a n d am ong Pe li c an Ho l d co , Inc . ( “ Ho l dco ” ) , Pe li c an A c qu i s i t i o n C o r po r at i o n ( “S PA C” ) , G r een l a n d E x p l o r at i o n L i m i t e d ( “ G r ee nl a nd ” ), a n d M a r c h G L C omp a n y ( “ M a r c h G L ” , a n d to g ether w i th G r een l a nd , e a c h a “C omp a n y” a n d c o ll e c t i v e l y , t h e “C omp a n i e s” ) . Th i s i n f o r m a t i o n i s b e i n g d i s t r i bu t e d to t h e R e ci p i en ts o n a c o n f id en t i a l b a s i s a n d may no t b e r ep r o duce d o r u s e d , i n who l e o r i n p a r t, f o r a n y o t her p u r po s e s , n o r may i t b e d i s cl o s e d o r othe r w i s e ma de ava il a b l e to a n y th i r d p a r ty . B y r e c e i v i ng th i s i nf o r m a t i on, R e ci p i e nt s , t h e i r a f f i l i a te s a n d r e p r e s e n t a t i v es ag r ee to m a i nt a i n t h e c o n f i den t i a li t y o f t he i nf o r m a t i o n c on ta in e d h e r e i n . W i thou t t h e exp r e s s p ri o r w ri t te n c on s en t o f e a c h o f t h e p a r t i e s , t h i s P r e s ent a t i o n a n d a n y i n f o r m a t i o n c on ta in e d he r e i n may no t b e ( i ) r e p r o du c e d ( i n who l e o r i n p a r t ) , ( ii ) c op i ed at a n y t i m e, ( i i i ) u s e d f o r a n y p u r po s e o t her th an t h e R e c i p i en t s ’ e v a l u a t i o n o f t h e p a r t i e s a n d t h e B u s in e s s C omb i n a t i o n o r ( i v ) p r o v i d e d to a n y p e r s o n ex c e p t t h e R e ci p i e nt s ’ em p l oyees a n d a d v i so r s w i th a need to kno w wh o a r e a d v i s e d o f t h e c o n f i dent i a li t y o f t h e i n f o r m a t i on . Th i s P r e s ent a t i o n s up e r s e d e s a n d r e p l a c e s a l l p r e v i ou s o r a l o r w ri t te n c ommun ic a t i on s between Ho l dc o , t h e C omp a n i e s a n d SP AC r e l a t i ng to t h e s ub j e c t matter he r e o f . The p r o v i s i o n o f t h i s P r e s ent a t i o n s h a ll no t b e take n as a n y fo r m o f c o mm i tment o n t h e p a r t o f Ho l d co , t h e C omp a n i e s a n d SP AC to p r o c eed w i th a n y ne g ot i a t i on s o f t h e B u s in e s s C omb i n a t i o n o r a n y o t her t r an s a c t i on, a n d Ho l d co , t h e C omp a n i e s a n d SP AC r e s e r v e t h e ri g ht to d i s c on t i nu e d i s c u ss i on s o r ne g ot i a t i on s r e ga r d i ng a n y t r an s a c t i o n at a n y t i m e a n d f o r a n y r e a s o n o r n o r e a s on . No Re pr e s e n t a ti ons or W a rr an t ies N o r e p r e s ent a t i on s o r w a rr ant i e s , exp r e ss o r i m p l i e d, a r e g i v e n i n , o r i n r e s pe c t o f , t h e a ccu r a c y o r c omp l ete n e ss o f t h e i nf o r m a t i o n c on ta in e d i n th i s P r e s ent a t i o n o r a n y o t her i n fo r m a t i o n (w h et h er w r i tte n o r o r a l ) th a t h as been o r w i l l b e p r o v i de d to you . T o t h e fu ll e s t exte n t pe r m i t te d b y l a w, n e i t h er Ho l dc o , t h e C omp a n i e s a n d SP A C , n o r a n y of the i r r e s pe c t i v e s ub s i d i ar i e s , eq u i t y h o l d e r s , a f f i l i ate s , r e p r e s e n t a t i v e s , p a r tne r s , di r e c to r s , o f f i ce r s , em p l oyee s , a d v i s e r s o r ag en ts s h a l l b e r e s pon si b l e o r li a b l e f o r a n y d i r e c t, i nd i r e c t o r c on s equ e n t i al l o s s o r l o s s o f p r o f i t ar i s i ng f r o m t h e u s e o f t h i s P r e s ent a t i on, i ts c on t en t s , i ts a ccu r a c y o r s u ff i c i e n c y, i ts om i ss i on s , i ts e r r o r s , r e li a n c e o n t he i nf o r m a t i o n c on ta in e d w i t h i n i t , o r o n o p i n i on s c o mm un ic ate d i n r e l a t i o n the r et o o r othe r w i s e a ri s i ng i n c onne c t i o n t he r e w i t h . In a dd i t i o n , th i s P r e s e nt a t i o n d o e s no t pu r po r t to b e i n cl u s i v e o f a l l o f t h e i nf o r m a t i o n ne c e s s a r y to make an e va l u a t i o n o f Ho l dc o , t h e C omp a n i e s , SP AC o r t h e B u s in e s s C omb i n a t i on . V i e we r s o f th i s P r e s ent a t i o n s hou l d e a c h make t h e i r o wn e va l u a t i o n o f Ho l dc o , t h e C o mp a n i e s a n d S P AC a n d o f t h e r e l eva n c e a n d a d e q u a c y o f t h e i n f o r m a t i o n a n d s hou l d make s uc h o t h er i n v e s t i g a t i on s as t h ey deem ne c e s s a r y . N oth i n g he r e i n s hou l d b e c on s t r u e d as l ega l , f i n a nc i a l , t ax o r o t h e r a d v i ce . Yo u s hou l d c on s u l t your o wn a d v i s e r s c once r n i n g a n y l eg a l , f i n a n c i a l , t ax o r o t h e r c on s i de r at i on s c once r n i n g t h e oppo r tun i ty de s cri be d he r e i n . The g e n e r al e x p l a n a t i on s i nc l ud ed i n th i s P r e s ent a t i o n c a nnot, a n d a r e no t i n t end ed t o , a dd r e s s your s pe ci f i c i n v e s tmen t ob j e c t i v e s , f i n a nc i al s i t u a t i on s , o r f i n a nc i al n eed s . Forwa rd - L ook i n g S t ate m en ts Th i s P r e s ent a t i o n c on ta i n s c e r t a i n f o r w a r d - l oo k i ng s tateme n ts w i t h i n t h e me a n i n g o f t h e f e d e r a l s e c u ri t i es l a w s w i th r e s pe c t to t h e B u s in e s s C omb i n a t i o n , i n c l ud i n g e x p e c t a t i on s , ho p e s , b e l i ef s , i n t en t i on s , p l a n s , p r o s pe c t s , f i n a n ci a l r e su l ts o r s t r ate g i es r e g a r d i ng H o l dco, t h e C o m p a n i e s , S P AC a n d t h e p r opo s e d B u s in e s s C omb i n a t i on . Any s tateme n ts o t her th an s tat e men ts o f h i s to ri c al f a c t c on ta in e d i n th i s P r e s ent a t i on, i n cl u d i ng s tatemen ts r e ga r d i ng t h e a nt i c i p a te d b e n e f i t s a n d t i m i ng o f t h e c omp l e t i o n o f t h e B u s in e s s C omb i n a t i o n , s tatemen ts a bou t e a c h C omp a n y ’ s ma r ket op p o r tun i ty a n d t h e poten t i al g r o wth o f th a t ma r ket, E a c h C omp a n y ’ s s t r a te g y, out c o m e s a n d g r o wth p r o s p e c t s , t r end s i n e a c h C omp a n y ’ s i ndu s t r y a n d ma r ket s a n d t h e c ompet i t i v e en v i r on m en t i n wh i c h e a c h C omp a n y op e r ate s , a r e f o r w a r d - l oo k i ng st atement s . The s e f o r w a r d - l ook i ng s tatemen ts g ene r a l l y a r e id en t i f i e d b y t h e wo r d s “ b e l i e v e , ” “ex pe c t , ” “a nt i c i p a te , ” “e s t i m a te , ” “ i nten d , ” “ s t r ate g y , ” “ fu t u r e , ” “ opp o r tun i ty , ” “ p l a n , ” “ may , ” “ s hou l d , ” “ w ill, ” “ wou l d , ” “ w il l b e , ” “ w i l l c on t i nu e , ” “ w il l li k e l y r e su l t , ” a n d s i m i l a r e x p r e ssi on s . F o r w a r d - l oo k i ng s tatemen t s ( i n cl u d i ng p r o j e c t i on s ) a r e p r e d ic t i on s , a n d o t her s tatemen ts a bou t fu t u r e e v e n t s o r c ond i t i on s th a t a r e b a s e d o n c u r r en t expe c t a t i o ns , e s t i mate s a n d a ss u m p t i on s a nd , as a r e s u l t , a r e s ub j e c t to ri s k s a n d un c e r t a i nt i e s . M a n y f a c t o rs c ou l d c a u s e a c tu al fu t u r e e v e n t s to d i f f e r m a te r i a ll y f r o m t h e f o r w a r d - l oo k i ng s tatemen ts i n th i s d o c u m en t , wh i c h f a c t o r s w i l l b e d i s c u ss e d i n do c u m en ts o f Ho l dc o a n d SP AC f i l e d , o r to b e f il e d , w i th t h e S e c u ri t i es a n d E x c h a n g e C omm i ss i o n ( “S E C” ) . Yo u s hou l d c a r e fu l l y c on s id er t h e r i s k s a n d un c e r t a i nt i es d e s c r ib e d i n t h e “ R i s k Fa cto r s ” s e c t i o n of t h e r e g i s t r a t i o n s tatement o n F o r m S - 4 a n d p r o x y s tateme n t /p r o s pe c t u s th a t w il l b e f i l ed b y H o l dco, a n d o t her do c u m en ts th a t w il l b e f i l ed b y Ho l dc o a n d SP AC f r o m t i m e to t i m e w i th t h e S E C . The s e fi li n gs d o o r w i l l id en t i f y a n d a dd r e s s o t her i m po r t a nt ri s k s a n d un c e r t a i nt i es th a t c ou l d c a u s e a c tu al e v e n t s a n d r e su l ts to d if f er m a te ri a ll y f r o m tho s e c on ta in e d i n t h e f o r w a r d - l oo k i ng s tatemen t s . F o r wa r d - l oo k i ng s tatemen ts s p e a k on l y as o f t h e d a te t h ey a r e ma de . The R e ci p i e nt s a r e c a u t i o n e d n o t to pu t undu e r e l i a n c e o n fo r w ar d - l ook i ng s tatemen t s , i nc l ud i n g p r o j e c t i on s , a n d Ho l dc o a ss ume s n o ob li g a t i o n a n d d o e s no t i n t en d to upd a te o r r e v i s e t h e s e fo r w a r d - l ook i ng s tatemen t s , w h et h er as a r e s u l t o f n ew i nfo r m a t i on, fu t u r e e v e n t s , a n y c h a n g e i n the i r e x p e c t a t i on s , c ond i t i on s o r c i r cum s t a n c e s o n wh i c h a n y s uc h s tatement i s b a s e d , o r othe r w i s e . N e i t h er Ho l d co , t h e C omp a n i e s n o r SP AC g i v e s a n y a ss u r a nce th a t e i ther Ho l d co , t h e C omp a n i e s o r SP AC w il l a c h i ev e i ts e x p e c t a t i on s . I ndus t r y and Mar ket D a ta In th i s P r e s ent a t i on, Ho l dc o , t h e C omp a n i e s a n d SP AC r e l y o n a n d r e f e r to c e r t a i n i n f o r m a t i o n a n d s ta t i s t ic s r e ga r d i ng t h e ma r ket s a n d i ndu s t ri e s i n wh i c h e a c h C omp a n y c ompet e s . S uc h i nfo r m a t i o n a n d s ta t i s t ic s a r e b a s e d o n e a c h o f t h e C omp a n y ’ s ma na g ement ’ s e s t i mate s a nd/or ob ta in e d f r o m th ir d - p a r ty s ou r c e s , i n cl u d i ng r epo r t s b y ma r ket r e s e a r c h f ir m s a n d c omp a n y f i li n g s . W h il e Ho l dc o , t h e C omp a n i e s a n d S P AC b e li ev e s uc h th i r d - p a r ty i n f o r m a t i o n i s r e li a b l e , th e r e c a n b e n o a ss u r a n c e as to t h e a ccu r a c y o r c omp l ete n e ss o f t h e i n d i c a te d i n f o r m a t i on . N e i t h er H o l dco, t h e C o m p a n i e s n o r S P AC h as i nd e p e nd e n t l y v e r if i ed t h e a ccu r a c y o r c omp l ete n e ss o f t h e i n f o r m a t i o n p r o v i de d by t h e th ir d - p a r ty s ou r c e s . E a c h o f Ho l d co , t h e C omp a n i e s a n d SP AC e x p r e ss l y d i s cl a i m a n y r e s pon s i b ili t y o r li a b ili t y f o r a n y dama g e s o r l o ss e s i n c onne c t i o n w i th t h e u s e o f s uc h i nfo r m a t i o n he r e i n . Tra de m a rk s Th i s P r e s ent a t i o n may c ont a i n t r a dema r k s , s e r v i c e ma r k s , t r ade name s a n d c op yr i g h ts o f o t h e r c o mp a n i e s , wh i c h a r e t h e p r o p e r ty o f t h e i r r e s pe c t i v e owne r s , a n d e a c h o f H o l d c o ’ s , t h e C omp a n i e s ’ o r S P A C ’ s u s e the r e of d o e s no t i m p l y an a f f i l i a t i o n w i t h, o r endo r s emen t b y , t h e owne r s o f s u c h t r a dema r k s , s e r v i ce ma r k s , t r ade name s a nd c opy ri g ht s . S o l e l y f o r c on v en i ence, s o m e o f t h e t ra dema r k s , s e r v i ce ma r k s , t r ade name s a n d c op y r i g h ts r e fe r r e d to i n th i s P r e s ent a t i o n may b e l i s te d w i thou t t h e T M , © o r ® s ymbo l s , bu t Ho l dc o , t h e C omp a n i e s a n d SP AC w i l l ass e r t, to t h e f u ll e s t e x te n t und e r a pp l ic a b l e l a w, t h e ri g ht s o f t h e a p p li c a b l e own e r s , i f a n y , to t h e s e t r adem a r k s , s e r v i ce ma r k s , t r ade name s a n d c opy ri g ht s . No Off e r or So li c it a ti on Th i s P r e s ent a t i o n d o e s no t c on s t i t ute ( i ) a s o li c i ta t i o n o f a p r oxy, c on s en t o r a u t ho r i zat i o n w i th r e s p e c t to a n y s e c u r i t i es o r i n r e s pe c t o f t h e B u s in e s s C omb i n a t i o n o r ( i i ) an o ff e r to s e l l , a s o li c i ta t i o n o f an o f f e r to bu y o r a r e c ommendat i o n to p u r c h a s e a n y s e c u r i t y o f H o l dco, t h e C omp a n i e s , SP AC o r a n y o f th e i r r e s pe c t i v e a f f i li a te s . N o s uc h o ff e r i ng o f s e c u ri t i es s h a l l b e ma de ex c e p t b y me a n s o f a p r o s p e c tu s meet i ng t h e r equ ir ement s o f t h e S e c u ri t i es A c t o f 1933 , as a mend e d , o r an exempt i o n the r ef r o m . N E I THE R TH E U . S . S E C UR ITIE S A N D E XC HA N GE C O M MI SS I O N N OR A N Y S T AT E O R TE RR ITO R IA L S E C UR ITIE S C O M MI SS I O N H A S APP R OVE D O R D ISAPP R OVE D O F TH E P RO PO S E D T R A N SAC TIO N , A N Y S E C UR ITIE S O R D ETERMI N E D IF THI S P R E S EN TATION IS TR U TH F U L O R C OMPLETE . A N Y RE P R E S EN TATION T O TH E C O N T R AR Y IS A C R IMI N A L O FF E N S E . A dd iti onal I n f o rm a ti on and W he re t o F i nd It In c onne c t i o n w i th t h e B u s in e s s C omb i n a t i o n , H ol dc o i n t end s to f i l e r e l eva nt mate r i a l s w i th t h e S E C , i n cl u d i ng a r e g i s t r at i o n s tatement o n F o r m S - 4 , wh i c h w i l l i nc l ud e a do c u m en t th a t s e r v es as a p r o x y s t a temen t /p r o s p e c tu s . The p r o x y s t a temen t /p r o s p e c tu s w i l l b e s en t to a l l SP AC s h a r e h o l d e r s . Ho l dc o a n d SP AC w i l l a l s o f il e o t h e r do c u m en ts r e ga r d i ng t h e B u s in e s s C omb i n a t i o n w i th t h e S E C . B ef o r e mak i ng a n y v ot i ng o r i n v e s tmen t de ci s i o n, i n v e s to r s , s h a r eh o l de r s a n d o t h e r i nt e r e s te d p e r s on s o f H o l dco, t h e C omp a n i e s a n d SP AC a r e u r g e d to r e ad t h e r e g i s t r at i o n s tatement, t h e p r o x y s tateme n t /p r o s pe c t u s a n d a l l o t h e r r e l eva nt do c u m en ts f il ed o r th a t w i l l b e f il ed w i th t h e S E C in c onne c t i o n w i th B u s in e s s C omb i n a t i o n c a r efu ll y a n d i n the i r ent ir ety as t h ey be c o m e ava il a b l e b e c a u s e t h ey w il l c ont a i n i m po r t a nt i nfo r m a t i o n a bou t t h e B u s in e s s C omb i n a t i on . I n v e s to r s a n d s e c u ri t y ho l de r s w il l b e a b l e to obt a i n f r ee c op i es o f t h e r e g i s t r at i o n s tatement, t h e p r o x y s t a temen t /p r o s p e c tu s a n d a l l o t her r e l eva nt do c u m en ts f il ed o r th a t w il l b e f il ed w i th t h e S E C b y Ho l dc o a n d SP AC th r ou g h t h e web s i te ma i nt a i ne d b y t h e S E C at www . s e c . g o v . The do c u m en ts f il ed b y H o l d c o a n d SP AC w i th t h e S E C a l s o may b e ob ta in e d f r ee o f c h a r g e, on c e a v a il a b l e , o n t h e S E C ’ s web s i te at www . s e c . g o v o r b y d i r e c t i ng a r equ e s t t o : P e li c an H o l dc o Inc . , 118 5 A v enu e o f t h e Ame r ic a s , S u i t e 30 4 , N ew Yo r k , N Y 1003 6 o r Pe l i c an A c qu i s i t i o n C o r p o r at i o n , 118 5 A v enu e o f t h e Am e r ic a s , S u i t e 30 4 , N ew Y o r k, N Y 10036 , r e s pe c t i v e l y . P ar ti c i pan t s i n So li c it a ti on Ho l d co , t h e C omp a n i e s , S P AC a n d t h e i r r e s pe c t i v e d i r e c to r s a n d exe c ut i v e o f f i ce r s may b e deemed und e r S E C r u l es to b e p a r t i c i p a nt s i n t h e s o l i c i ta t i o n o f p r o x i es f r o m SP AC ’ s s h a r eh o l d e r s i n c onne c t i o n w i th t h e B u s in e s s C omb i n a t i on . A li s t o f t h e name s o f t h e d i r e c to r s a n d exe c ut i v e of f i c e r s o f H o l d co , t h e C omp a n i e s a n d SP AC, a n d i n f o r m a t i o n r e ga r d i ng t h e i r i nte r e s t s i n t h e B u s in e s s C o m b i n a t i o n a n d t h e i r owne r s h i p o f SP AC ’ s s e c u ri t i es a r e , o r w i l l b e, c on ta in e d i n Ho l d c o ’ s a n d SP A C ’ s f i l i n gs w i th t h e S E C . Add i t i on al i nf o r m a t i o n r e ga r d i ng t h e i nte r e s t s o f t h e p e r s on s wh o may, und e r S E C r u l e s , b e deemed p a r t i c i p a nt s i n t h e so li c i ta t i o n o f p r o x i es o f SP A C ’ s s h a r eh o l d e r s i n c onne c t i o n w i th t h e B u s in e s s C omb i n a t i o n w il l b e s et fo r t h i n t h e p r o x y s t a temen t /p r o s p e c tu s i nc l ud ed i n t h e F o r m S - 4 f o r t h e B u s in e s s C omb i n a t i o n , wh i c h i s expe c ted to b e f il ed w i th t h e S E C . Yo u may obt a i n f r ee c op i es o f t h e s e do c u m en ts as de s cri be d i n t h e p r e c ed i n g pa r a g r a ph . Use of Pr oje c t i ons and E s ti m ates Th i s p r e s ent a t i o n c on ta i n s p r o j e c t i on s a n d e s t i m a te s . The s e p r o j e c t i on s a n d e s t i mate s h av e no t been a ud i te d o r r e v i ewe d , n o r h as a n y a ud i t o r c o m p il ed o r p e r f o r me d a n y p r o c edu r e s w i th r e s pe c t to t h e p r o j e c t i on s a n d e s t i mate s f o r t h e p u r po s e o f t h e i r i n cl u s i o n i n t h i s p r e s ent a t i on, a n d a cc o r d i n g l y , n o s uc h a ud i t o r h as ex p r e s s ed an op i n i o n or p r o v i de d a n y o t her fo r m o f a ss u r a nce w i th r e s p e c t the r et o f o r t h e p u r po s e o f th i s p r e s ent a t i on . T h e s e p r o j e c t i on s a n d e s t i mate s a r e f o r i ll u s t r at i v e p u r po s e s o n l y a n d s ho u l d no t b e r e l i ed upo n as b e i n g ne c e ss ar il y i nd i c a t i v e o f fu t u r e r e s u l t s . The a ss u m p t i on s a n d e s t i mate s und er l y i n g t h e p r o j e c ted i n fo r m a t i o n a r e i nh e r ent l y un c e r t a i n a n d a re s ub j e c t to a w i de v a ri ety o f s i gni f i c a nt bu s in e ss , r e g u l a to r y, e c ono m i c a n d c ompet i t i v e r i s k s a n d u n c e r t a i nt i es th a t c o u l d c a u s e a c tu al r e su l ts to d i f fer m a te ri a ll y f r o m tho s e c on ta in e d i n t h e p r o j e c ted i n fo r m a t i on . E v e n i f t h e a ss u m p t i on s a n d e s t i mate s a r e c o rr e c t, p r o j e c t i on s a n d e s t i mate s a r e i nhe r ent l y un c e r t a i n du e to a nu m b er o f f a c to rs ou t s id e our c ont r o l . A cc o r d i n g l y , th e r e c a n b e n o a ss u r a nce th a t t h e p r o j e c ted r e s u l ts a r e i n d i c a t i v e o f o u r fu t u r e p e r f o r m a nce o r th a t a c tu al r e s u l t s w il l no t d i ff e r mate r i a l l y f r o m tho s e p r e s e n ted i n t h e p r o j e c ted i nf o r m a t i on . In cl u s i o n o f t h e p r o j e c ted i nf o r m a t i o n i n th i s p r e s ent a t i o n s hou l d no t b e r e g a r de d as a r e p r e s ent a t i o n b y a n y p e r s o n, i nc l ud i n g , w i thou t li m i ta t i on, Ho l d co , t h e C omp a n i e s , o r SP AC, th a t t h e r e s u l ts c on ta in e d i n t h e p r o j e c ted i nfo r m a t i o n w il l b e a c h i e v e d . 1

▪ O v e r 2 M i ll i o n A c r es ▪ 3 L i c en se s c o v er i n g th e en t i r e b a s i n . ▪ 50 + L e a d s a n d p r o spe c t s . ▪ 1 ,800 - l i ne k m o f q u a l i t y 2 D d a t a c o v e ri ng m a j o ri t y o f t he b a s i n . ▪ O v e r 1 3 B i ll i o n Bar r e l s o f G r o s s O i l 1 D en se r S ei s m i c S u r v e y s , E v a l u a t i o n o f D eep e r F o r m a t i o n s , a n d Un c o n v en t i o n a l m a y S i g n i f i c a nt ly I n c r e a s e R ese r v e s . ▪ P e a k d a i ly p r o d u c t i o n c o ul d r e a c h a n e x c ess o f 1 . 5 - 2 . 0 + m i ll i o n b a r r els per d a y . ▪ M a r ch G L t o E x pl o r e a n d E a r n u p t o 70 % o f t he J am e s o n L an d B a s i n . ▪ T h e d e a l i s s t r u c t u r e d t o i n c e n t ivi z e r a p i d a n d t h or ou g h e x p l or a t i on o f o n e o f G r een l a n d ’ s l a r g e s t u n d ev el o p e d en e r g y a ss e t s . ▪ F un d i ng : Ma r c h G L fu n d s 100 % o f i niti a l d rill i ng a t J a m eso n L a n d B a s i n - $40 m m fo r the fi rst w e ll , a nd $20 m m fo r the s e c o nd w e ll . I n t e r e s t E a r n i n g: ▪ ▪ ▪ ▪ I niti a ll y a pp o i nte d a s Fi e l d O p e ra ti o ns Ma na g e r. 50 % o f e nti re b a si n a fte r fi rst w e ll . 70 % o f e nti re b a si n a fte r s e c o nd w e ll . E xc lu s i v e Li censes for O v er 2 Milli on Acres i n Green l and's Ja m eson Land Bas i n: O n e o f t h e La r ges t Supe r g ian t U nexp l o r e d H y d r oca r bo n R esou r ces 1 : Ind e p en d ent en g i nee r i ng r e p or t p r e p a r e d by Sp r o u l e - E R C E r e p or t S e p t e m b e r 1 , 202 5 ov e r 1 3 bill i o n b a rr e l s o f g ross o i l , 9 . 1 b i ll i o n b a rr e l s o f n et o il ( P 1 0 ) . T h e C o m p a n y e s t i m a t e s t h e J a m e s o n L a n d B a s in m a y ha v e s i g n i f ican tl y m or e b a rr e l s o f o il w i t h f u r t h e r e v a l u a ti o n o f t h e d eep er h or i z o n s , m or e d e n s e l y c o n d u c t e d s e i s m i c su rv e ys , a n d e v a l u a ti o n of u n c o n v en t i o n a l r e sou r c e s . 2

E n g i ne e ri ng Ha lli burton, IP T , and S ta m pede D rilli ng a r e m ob ili z i ng the i r pe r sonnel and equ i p m ent to Opt i m a ll y P os i t i oned W e ll s (O P W 1 and O P W 2) L o g i s t i c s a n d S e r v i c e P r o v i der D r i ll i n g O pe r a t i o n s O pe r a t i on s an d Log is t ic s T eam Lead i n g I ndus t ry V e t e r ans 3

▪ S ei s m ic ▪ F ie l d W o r k ▪ D a t a P r o c e ss i ng a n d I n t e r p r e t a t i o n A R C O I n v e s tme n t ( i n 202 5 d o ll a r s ) $27 5 MM D r i ll - R e a d y P r o j e ct w i t h o v e r $280 M i ll i o n I n v e s t e d 8 0 Mil e E q u i p m e n t 8 0 Mil e a n d M a r c h G L M o d e rn D a t a P r o ce ss i n g , E n g i ne e ri ng a n d L o g i s t i c a l S pen d ▪ D9 B u ll d o z e r ▪ H ou s i n g f or 40 + w o r k e r s ▪ G e n e r a t o r s a n d o t h e r e q u ip m e n t ▪ S ei s m i c r e p r o c e s s i n g ▪ L i d ar an d g r av i t y ▪ L og i s t i cs $ 8 MM O ve r $28 0 M illi o n Inves t e d i n t h e P r o ject P r i m e d f o r D r illi n g 4

ARC O D iscove r e d P r udho e B a y - Th e La r ges t Oil F i e l d i n N o rt h A m e r ica The eng i ne of A l aska ’ s E c o no m y s i nce 1970s - 13 b illi on barre l s, 1 . 5 Milli on BO E/ day peak 1 R a n k e d J a m e s o n L a n d B a s i n a s t o p h y d r o c a r b o n p r os p e c t i n G r ee n l a n d – w i t h s i m i l a r 70 d e g r ee s L a t i tu d e a s P r u d h o e B a y O i l p r i c e c o l l a p s e ( 1985 – 19 8 6) A R C O ’ s Con t r i b u t i o n 3 W h y A R C O H a d t o R e l i n q u i s h 4 C o n d uc t e d f i e l d ma pp i n g , s e is m i c , g r a v i t y , a n d m a g n e t ic d a t a a c q u i s i t i on I d e nt i f i e d s i g n i f i c a nt r e s ou r c e p o t e nt i a l w i t h e s t i m a t e s o f t e n s o f b i ll i on s o f b a r r e l s C o r p o r a t e r e s t r uc tu r i n g a n d c o s t - c ut t i n g ( 12 , 000 j o b s c ut 1985 – 198 7 ) E x t r e m e r o y a lt i e s a n d c a s h c r un c h d i s i n c e nt i v i z e d A R C O f r om d r i l l i n g th e f ir s t w e ll Ja m eso n Lan d B as i n w a s ARC O ’ s t o p p r ospec t t ha t w a s neve r d r ill ed 1 : h tt p s : // d e c .a l a s k a. g o v / s p a r / pp r / r e s p o n s e / s u m _ f y 0 6 / 0 6 0 3 0 23 0 1 / f a c t s h e e t s / 0 6 0 30 2 3 0 1_ f a c t s h e e t _ P B . pd f # : ~ : t e x t =in% 2 0 N o r t h % 20 A m e r i c a % 2 0 a n d % 2 0 t h e , A % 2 0 co nfi r m a t i o n % 20 w e ll % 2 0w a s % 2 0 d r i ll e d 2: P 10 R e s o u r c e E s t i m a t e , S p r o u l e - E R C E S e p t em b e r 1, 2025 R e p o r t Ja m eson Land Bas i n has t h e sa m e p o tent i a l 2 5 3 : A R C O I n t e rn a l R e p o r t , 01/06/ 1 9 87 4 : h ttps : // w ww . c o mpa n y - h i s t o r i e s . c o m / A t l a n t i c - R i c h f i e l d - C o mpa n y - C o mpa n y - Hi st o r y . h t ml

A r ct ic Resou r ces 6 U SGS 1 E s t i m a t e s t h e A r c t i c C i r c le co n t a i n s 2 ,3 : • 30 % o f t h e w o r l d ’ s u nd i s c o v e r e d n a t u r al g a s r es o u r c es • 13 % of t h e w o r l d ’ s u n d i s c o v e r e d oi l r es o u r c es • 7 bas i n s w i t h o v e r 360 b i ll i o n B O E, i n c l u d i n g t h e Ea s t Gr ee nl an d R if t B as i n M u c h o f t hi s a r e a ha s be e n c l o se d d u e t o g o v e r n m e n t po l i c y an d sanc t i o ns J ame s on L a n d B a s i n 1 : Un i t ed S t a t es Geol og i c a l S u r v e y 2 : A r c t ic o il an d natura l ga s r e s our c es - U . S. E n e rg y I n f or m at i o n A d m i n i s trat i o n ( E I A) 3 : ht t p s ://g e o l og y . c o m /art icle s /ar c t ic - o il - and - ga s /

PL A Y ANA L OG UES J ame so n L a n d B asin – M id N o r w a y / B a r e n t s S e a • U pp er P e r m i a n • C ar b o n a te bu il d - u p s o n loca l high s ( L opp a High , Bare nts S ea) • Int er - hig h pla t for m car b o n a t e s a nd clas t ic s ( L opp a High , Bare nts S ea) • D eepe r b asi n a l shale s • T r iassi c – Ju r assi c • T ra n si t io n fro m fl u via l play a to lac u s t ri ne d el ta to shorefac e m ari ne clas t ic s • Golia t, J oha n C as tb erg , S k all e - Bare nts S e a • Hei d r u n, S k u l d - Mi d N orwa y , • S t ra t h m or e - E as t S ola n Basi n, U K CS Jam e s o n L an d B a s i n B a r e nt s S ea Mi d N o rway 7

D i r ec t H y d r oca r bo n O bse r va t i ons O i l a n d G as S ee p s A t S ur f a ce a n d G e n e ti c M a t c h t o N o r th S e a O i l 8

P r opose d W e l l Loca t i ons Fi r s t Loc a ti o n – O P W 1 (2 . 9 Billi o n B a r r e l s 1 ) 1 : P 1 0 R e s o u r c e Es t i m a t e , S p r o u l e - ER CE S e p t e m b e r 1 , 202 5 R e po rt 9

P r opose d W e l l Loca t i ons Fi r s t Loc a ti o n – O P W 1 (2 . 9 Billi o n B a r r e l s 1 ) A RC O se i sm i c d a ta r e p r o cesse d w i t h a d v a n ce d t ec hno l ogy L i n e 1 O P W 1 SW NE O PW 1 L i n e 2 1 : P 1 0 R e s o u r c e Es t i m a t e , S p r o u l e - ER CE S e p t e m b e r 1 , 202 5 R e po rt 10

P r opose d W e l l Loca t i ons Se c o n d Lo c a ti o n – O P W 2 (1 . 1 Billi o n B a r r e l s 1 ) 1 : P 10 R e sou r c e Es t i ma t e , S p ro u l e - E R C E S e p t e m b e r 1 , 2025 R e p ort R E S E R V OIR O PW 2 R E S E R V O IR 11

La r ges t Oil F i e l d s i n t h e W o r l d ( No w S i gn i f i c a n t l y D e p l e t e d) Ja m eson Land Bas i n Ho l ds the P otent i al For Be i ng a T op O i l F i e l d i n the W or l d h tt p s : / / www . w o r l d wi d e - r s . c o m / b l o g / 2023 / 08 / u n ve ilin g - t h e - w o r l d s - l a r g est - o il - f i e l d s/ 12 I n d e p e n d e n t e ng i n e e r i ng r e p o r t p r e p a r e d b y S p r ou l e - E R C E i n d i c at e s 13 + b i ll i o n b a r r e l o f o i l ( P 10 ) . T h e C o m p a n y es t i m at e s t he J am e s o n L a n d B a si n m a y h a v e si g n if i c a n t l y m o r e b a rre l s o f o i l w i t h fu r t h e r e v a l u a t i o n o f t he d ee p e r h o r i z o n s , m o r e d e n s e l y c o n d u c t e d se is m i c s u r ve y s , a nd e v a l u a t i o n o f u n c o nv e n t i o n a l r es o u r c e s . C ur r e nt D a i ly P r o d uc t io n (Mi ll io n B a r r e l s ) Rec o v e r a b l e Oi l ( B i ll io n B a r r e l s ) L o c a t io n F ie ld Na m e 3.8 88+ Sau d i A r a bia G h awa r F ie l d 1.7 66+ K uwa it B u r g a n F ie ld 0.48 66 I r a n G a ch s a r a n F ie ld 2.6 - 3.0 30+ V e n e zu e la B o l iv a r C o a s t a l F ie l d 1.2 30 Sau d i A r a bia Sa f a n iya Oil F ie l d 0.40 30 K a z a k h s t an K a s h a g a n F ie ld 0.44 28 I r a n A g h a j ar i F ie l d 0.65 26+ K a z a k h s t an T e n giz F ie l d 0.75 25 I r a n A h v a z F ie ld 0.75 21 U AE Upper Za k u m Oil F ie l d 0.16 18+ M e xi c o Ca n t a r e l l F ie l d 0.60 16 C h i na Da q i n g F ie ld 1.5 - 2.0 + ( P e a k) 13+ G r ee nl a nd J a mes o n L a n d B a sin

▪ P r u d h o e B a y $5+ / bb l b r e a k e v e n i n 1970s ▪ T h i s w a s w i t h 1960 s - 70 s t e c hn o l o gy a nd z e r o a r c t i c i n f r a s t ru c t u r e ▪ M o d e rn a r c t i c s u pp l y c h a i n s (i ce - c l a ss t a n k e r s , m o d u l a r p l a nt s , r em o t e o p e r a t i o n s ) o f f e r r e d uc e d l o g i s t i c s c o s t s v s . 1970 s A r c t i c o p e r a t i o n s ▪ J am e so n L a n d B a si n o i l : ~ 40 ƒ A P I , l i g ht , h i gh e r B r e nt C r u d e p r i c i ng Mo d e r n t e c hn o l o g y a n d s u p e r g i a nt s c a l e e c o n o m i c s o f J am e s o n L a n d B a s i n ma y a c h i e v e c o m p e t i t i v e b r e a k e v e n i n t h e $25 + p e r - b a r r e l r a n g e . J ame s on L a nd Ba sin S up e r gi a n t Oil Field - E n e r g y S ec u ri ty a nd Inde p e nd e n c e J am e s o n F i el d ha s t h e P o t ent i a l t o b e L o w e r - C o s t P r o d u c e r P r u d h o e B a y U . S . s hal e a v e r a g e b r ea k e v e n o f $6 1 t o $70 / bbl . L a r g e - s c a l e po t ent i a l r e s e r v es L ow e r - c o s t s uppl y a l t er n at i v e w he n pr i ces d r o p R edu ce U . S . & E u r o pea n v u l ne r a b i l i t y t o v o l a t i l e ene r g y s uppl i e r s 13 http s: // i se r a l a sk a . o r g / st a t i c / le ga c y _ p u b l i c a t i o n _ l i n k s / f o r m a l / f pp a p e r s / f pp1 1 . pdf http s: // d s p a c e. m i t . e d u / b i t st r e a m / h a n dl e / 1721. 1 / 43131 / 24592617 - M I T . pd f ? se q u en c e= 2 & i sA llo w e d = y http s : // www . n yt i m e s . c o m / 197 7 / 0 3 / 22 / a rc h i v e s / 3 - u s - c o n c e r n s - wa nt - f u ll - p r i c e - fo r - pr ud h o e - b a y - o i l . html http s: // o n e p et r o . o r g / s p e / g en e r a l - i n f o r m a t i o n / 2020 / P r u dh o e - B a y - f i eld htt p s : // www . s t a t i s t a. c o m / s t a t i s t i c s / 7 48207 /b r e a ke ve n - p r i c e s - fo r - u s - o i l - p r o d u c e r s - b y - o i lf i el d /

A C as e S t ud y : N o r w a y , N o rt h S ea , an d B a r en t s S e a P r oduc t i on US D $1. 9 T r illi o n S ove r e i g n W ea l t h Fun d B u il t w i t h E ne r g y Resou r ces ▪ E st a b l i s h ed i n 199 0 t o m a n a g e su rp l u s p et ro l eu m re v e n u es f o r l o n g - t erm b e ne f i t s. ▪ L a r g est so v ere i g n w e a l t h f u n d g l o b a ll y , w i t h $1 . 9 t r il l i o n i n a ss e t s a s o f J u n e 2025 . ▪ ~U S D $340 k p e r E a c h N o r w e g ia n . ▪ Ho l d s 1 . 5 % o f a l l l i s t e d c o m p a n i e s w o r l d wi d e , in ve s t in g i n o ve r 8 , 50 0 f i r m s a c r o ss 70+ c o u n t r i es. ▪ N o r w a y ’ s p et ro l eu m i n d u st ry b eg a n a f ter t h e d i s c o v ery o f t h e G ro n i n g en g a s f i e l d i n t h e N e t h e r l a n d s , w hi c h hi g h l i g ht e d t h e N o r t h S e a ’ s p o t e nt i a l . ▪ Key exa mp l e: E k o f i sk ( d i s c o v ered 1969 , P h i ll i p s P et ro l eu m) , i n i t i a l reserv es o f 3 . 4 b i ll i o n b a rrel s, st i l l p ro d u c i n g a f ter 50 + y e a rs . ▪ A pp r ox i m a t e l y ~ 2 m i ll i o n B O E/ d a y , a cc o u n t i n g f o r ~ 2 % o f g l o b a l oi l s u pp l y . N o r w a y E ne rg y I ndu s t r y 1 Den m a r k E ne rg y I ndu s tr y 3 N o r w a y G o v e r n m e n t P ension Fund G lobal 2 ▪ P r o d u c ti o n b e g a n i n 1972 ▪ P e a k P r o d u c ti o n wa s 389 , 16 3 b a rr e l s / d a y i n 2004. ▪ D e n m a rk w a s se l f - s u ffi ci e n t i n o i l and g a s f r o m 199 7 t o 2013. ▪ N et ex p o rt er u n t i l e a r l y 2020s . T o ta l m a r k e t v a l u e ( $U S D tr i ll i o n) $2 . 0 $1 . 8 $1 . 6 $1 . 4 $1 . 2 $1 . 0 $0 . 8 $0 . 6 $0 . 4 $0 . 2 $ - 1 9 98 1 9 99 2 0 00 2 0 01 2 0 02 2 0 03 2 0 04 2 0 05 2 0 06 2 0 07 2 0 08 2 0 09 2 0 10 2 0 11 2 0 12 2 0 13 2 0 14 2 0 15 2 0 16 2 0 17 2 0 18 2 0 19 2 0 20 2 0 21 2 0 22 2 0 23 2 0 24 ▪ O i l re v e n u es a re i n t eg r a t ed i n t o g e n era l b u d g et , f u n d i n g u n iv ersa l h e a l t h c a re ( 100 % c o v era g e) , f ree ed u c a t i o n , soc i a l serv i c es a n d re n e w a b l e e n er g y d ev e l o p me n t . ▪ M a n y D a n i sh i n f r a st ru c ture p ro j e c t s p a rt l y f u n d ed b y o i l re v e n u es. D e n ma r k r e v e n ue s f r o m o i l a n d g a s i n t h e N o r t h S e a $6 5 b i ll i o n + 4 G o v er n me n t S h a re o f O i l R ev e n u es ( $ b i ll i o n s) $ 8 .0 $ 7 .0 $ 6 .0 $ 5 .0 $ 4 .0 $ 3 .0 $ 2 .0 $ 1 .0 $ - 2 0 00 2 0 01 2 0 02 2 0 03 2 0 04 2 0 05 2 0 06 2 0 07 2 0 08 2 0 09 2 0 10 2 0 11 2 0 12 2 0 13 2 0 14 2 0 15 2 0 16 2 0 17 2 0 18 2 0 19 2 0 20 14 1 : C o u n t r y A na l y s i s Br i e f N o r w a y , E I A , A u g u s t 202 4 2 : h t t p s : // www .nb i m . n o / e n/in v e s t m e n t s / t h e - f u nd s - v a lu e/ 3 : h t t p s : // www . c e ic d a t a. c om / e n/ in d ica t o r / d e n m a r k /cr u d e - o i l - p r o d u c t i o n 4 : h t t p s : // e n g . n o r d s o e f o nd e n . d k/ o i l - an d - g a s / o i l - an d - g a s - in - d e n m a r k

Oc t obe r 202 5 B e a c h L a ndin g o n Jame s o n L a n d Th e tu g b o a t a n d b a r g e a r e e n r o u t e w ith th e r o ad a n d p ad building e qui p me n t. D 9 Bulld o z e r , E x c a v at o r , B a ck h oe, G e n e r at o r , T r u c k s, C r a n e, a n d H o u s in g E qui p me n t w il l b e in pla ce t o b eg in 3 - m il e r o ad t o O P W 1 in Q 1 2026 15

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