Star Phoenix : Document 2022

Disclaimer

This presentation has been prepared by Range Resources Limited ("Range" or the "Company").

This presentation is for information purposes only and does not constitute or form part of an offer, solicitation or invitation of any offer, to buy or subscribe for any securities, nor should it or any part of it form the basis of, or be relied in any connection with, any contract or commitment whatsoever.

The information contained in this presentation has not been independently verified. No representation or warranty expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Neither the Company nor any of its respective officers, employees, affiliates, advisers or representatives accept any liability whatsoever (in negligence or otherwise) for any loss howsoever arising, whether directly or indirectly, from any use, reliance or distribution of this presentation or its contents or otherwise arising in connection with this presentation.

This presentation includes forward-looking statements. These statements contain the words "anticipate", "believe", "intend", "estimate", "expect", "plan" and words of similar meaning. All statements other than statements of historical facts included in this presentation, including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to the Company's business and services) are forward- looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company to be materially different from results, performance or achievements expressed or implied by such forward-looking statements. These forward-looking statements speak only as at the date of this presentation. Predictions, projections or forecasts of the economy or economic trends of the markets are not necessarily indicative of the future or likely performance of the Company. Past performance is not necessarily indicative of future performance. The forecast financial performance of the Company is not guaranteed. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current views of the Company on future events. The Company expressly disclaims any obligation or undertaking to disseminate any updates

2	Corporate Presentation

or revisions, except as required by law, to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Resources estimates provided in presentation have been extracted from the competent persons reports prepared in respect of the Company's Trinidadian and Indonesian assets and which are available on the Company's website and conform to the ASX Listing Rules and AIM Rules for Companies.

The Company is not aware of any new information or data that materially affects the assumptions and technical parameters underpinning the estimates of resources.

The estimated quantities of petroleum that may potentially be recovered by the application of future development projects relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development. Further exploration appraisal and evaluation is required to determine the existence of a significant quantity of potentially moveable hydrocarbons.

Neither this presentation nor any copy or portion of it may be sent or taken, transmitted or distributed, directly or indirectly, into the United States, Japan, Canada or any other jurisdiction which prohibits the same. The securities of the Company have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state or other jurisdiction of the United States or elsewhere, and the securities may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state or local securities laws. This presentation is not for distribution in, nor does it constitute an offer for sale of securities in the United States. The Company does not intend to conduct a public offering of its securities in the United States.

Executive summary

revenue, reserves, rigs

• Oil producing assets generating revenues
• Material reserves of 15 million barrels and significant exploration upside
• Netbacks in Trinidad in excess of US$14 / barrel at current production
• In-houseservices company with modern rigs
• Balanced mix of shareholders retail and cornerstone
• Working on key objectives of improving operational efficiencies and tidying up the balance sheet

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Corporate Presentation

FY 2018 - financial performance highlights

• Significant overall improvement achieved in financial performance in FY2018
• Strengthening the balance sheet is a key priority during the next 12 months

Component	FY 2018	FY 2017	% change
Production	237,352 bbls	190,546 bbls	+ 25%
Revenue	$13.1 m	$8.4 m	+ 55%
Realised oil price	$55.4 / bbl	$44.3 / bbl	+ 25%
OPEX (Trinidad upstream)	$26 / bbl	$46 / bbl	- 43%
EBITDAX (loss)	$6.0 m	$7.9 m	- 24%
Loss after tax	$17.5 m	$54.4 m	- 68%
G&A expenses	$4.1 m	$5.2 m	- 21%
Cash and liquid assets	$6.7 m	$17.3 m	- 61%
Borrowings and payables	$87.0 m	$61.9 m	+ 41%
$ - United States Dollars
4	Corporate Presentation

2018 / 2019 activities and strategy

Asset	Activity	Objective
Trinidad	•	Infrastructure upgrade	¾	Improve operational efficiencies
	•	Geotool studies	¾	Improve competitiveness
	•	Workovers and reactivation >150	¾	Grow revenue
		wells
	•	Waterflood expansion
	•	New drilling
	•	Corporate restructuring

• New contracts for RRDSL

Indonesia	•	2 well reopenings	¾	Establish production
		•	G&G and integrity studies	¾	Finalise development strategy
Corporate	•	Repaying and / or refinancing the	¾	Strengthen balance sheet
			payable position	¾	Focus on assets with most
		•	Georgia and Colombia resolution		potential to deliver highest
		•	Optimise portfolio		returns
5	Corporate Presentation

Infrastructure modernisation programme

to accommodate future production growth

• Infrastructure upgrades at Beach Marcelle underway
• To provide greater resilience and production capacity
• Upgrades on oil handling and storage facilities completed earlier in 2018
• Upgrades on sales facilities are underway

• Completion expected in Q3 2019

New tanks installed at the Beach Marcelle field

6	Corporate Presentation