This presentation, which has been prepared by Highlands Natural Resources PLC (the “Company”), has not been approved in any jurisdiction by a securities regulator or person authorised under applicable financial services legislation and does not constitute or form part of any offer for sale, or solicitation of any offer to buy or subscribe for, any securities, nor shall it or any part of it form the basis of or be relied on in connection with, or act as any inducement to enter into, any contract or commitment whatsoever or otherwise in evaluating the merits of investing in any securities. The material in this presentation is general information intended for recipients who understand the risks associated with investment. It does not take account of whether an investment, course of action or associated risks are suitable for the recipient.

In addition, this presentation includes forward-looking statements that reflect the Company’s current views with respect to future events and financial performance. These views are based on a number of assumptions and are subject to various risks. Such forward-looking statements are not guarantees of future performances and no assurance can be given that any future events will occur, that any projections will be achieved or that the Company’s assumptions will prove to be correct. Actual results may differ materially from those projected, and the Company does not undertake to revise any such forward-looking statements to reflect future events or circumstances.

The past performance of the Company cannot be relied upon as a guide to its future performance. The price of shares can go down as well as up and investors may not recoup the amount originally invested.

No reliance may be placed, for any purposes whatsoever, on the information contained in these slides or the presentation or on the completeness, fairness or accuracy thereof and nothing contained herein or in the presentation should be considered a recommendation to purchase or subscribe for any securities of the Company. No undertaking, representation, warranty or other assurance, express or implied, is made or given by or on behalf of the Company or any of its subsidiaries or any of their respective directors, officers, partners, employees, agents or advisers or any other person as to the accuracy, fairness or completeness of the information or opinions contained in these slides or the presentation and no responsibility or liability is accepted by any of them for any such information or opinions . Accordingly no such person will be liable for any direct, indirect, consequential or other loss or damage suffered by any recipient of these slides and/or the presentation resulting from the use in any manner whosoever of the information or opinions contained therein or any errors, omissions or misstatements in respect of the same. However, nothing in this disclaimer shall be effective to limit or exclude any liability which, by law or regulation, cannot so be limited or excluded.

These slides are for distribution in the UK only to those persons to whom these slides may be lawfully distributed pursuant to the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, including in reliance on article 69 of such Order. Other persons in the United Kingdom should not rely on these slides nor take any action upon them, but should return them immediately to the Company.

The distribution of these slides in other jurisdictions may be restricted by law and persons into whose possession the slides may come should inform themselves about and observe any such restrictions. In particular, neither these slides nor any copy of them may be taken or transmitted into or distributed in any jurisdiction which prohibits the same except in compliance with applicable securities laws. Any failure to comply with this restriction may constitute a violation of applicable securities laws.

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Montana Helios Two Natural Gas and Helium Prospect

Advancing a diversified portfolio of high-potential projects

Colorado Shale Shale

Oil & GasWells

Cash flow from East Denver supports development of upside opportunities

HNR Well Performance

Enhancement Portfolio

Colorado Shale Shale

Oil & GasWells

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• The East Denver Project is fully funded

▪ Initial production for the first two wells reached ~290k Boe

▪ On April 19th, Highlands entered into an agreement with True Oil that will fund all future development in East Denver

▪ All six planned wells (Buckskin, Grizzly, Ouray, Thunder, Hagar, and Citadel) have been drilled, cased, cemented, and secured

▪ Hydraulic fracking operations started

• Under the agreement terms

▪ Highlands sold 49.5% of its 57% interest in the Wildhorse, Powell and all future East Denver wells to True Oil

▪ The Company received US $5.4 million in cash

▪ Highlands retains 7.5% carried interest in current and future wells

• True Oil assumed all operational responsibilities enabling Highlands’ team to focus on other projects

Highlands’ shale development business model:• Efficient land acquisition• Non-dilutive third party funding from private equity funds and strategic partners• Revenue generation from land acquisition and re-sale, overriding royalty interests, carried interest and back-in

after payout

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• Highlands recently acquired 3,617 net acres of leases in Jefferson County▪ Ongoing leasing campaign targeting additional acreage▪ “Grassroots” land work in enlarging core area

• Prospective for Niobrara and Codell formations with upside potential from Ft. Hays formation▪ Opportunity for opening up a new front in the basin▪ Potential for enlarging the scope of the project, targeting multiple formations

• Targeting project scale with at least 48 horizontal wells▪ Continuously increasing acreage position ▪ Discussions underway with prospective joint venture partners for non-dilutive financing

DT UltravertRe-Frac and Parent Well Protection

Kansas Nitrogen Low cost, High

Volume and High Purity Gas Resources

Carbon Dioxide ExplorationArizona CO2

Prospect for Enhanced Oil

Recovery

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DT UltravertRe-Frac and Parent Well Protection

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• Presented DT Ultravert (DTU) at North American Petroleum Exposition (NAPE) in February▪ DT Ultravert, a technology demonstrated to mitigate against well bashing, introduced to broader industry through hundreds

of in-person conversations

• Highlands has 4 granted and numerous pending patents for DTU technology▪ DT Ultravert has patents for a variety of uses, furthering its applications in the market

▪ Highlands and its consultants continuously work to improve DTU technology

• Successful DTU deployments in horizontal and vertical wells in the Permian and Piceance Basins▪ DT Ultravert has a proven track record

▪ Both re-fracking and parent well protection applications of DT Ultravert have been tested and proven effective

• High volume, high pressure and highly pure nitrogen resource discovered▪ Employing its creative and technical expertise in natural resources exploration, Highlands has identified, acquired and

discovered high pressure and highly pure nitrogen resources

▪ Nitrogen, a gas suitable for the DT Ultravert applications, is a big cost component of potential commercial operations

▪ Through acquiring these resources, Highlands believes that it has secured enough resources for many years worth of nitrogen feedstock for potential DT Ultravert commercialization

• Ongoing commercialization talks with strategic partners▪ Licensing discussions continue with major service company and oil and gas producers

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DT Well 1DT Well 2Percentile 10Percentile 90Percentile 50

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Performance – Permian Horizontal

DTU achieved an average15% production increase compared to child wells completed without DTU

Child with DTUParent well1

Child without DTU1

(1) Averaged across dataset to maintain host operator’s confidentiality

Days On Production

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Performance – Piceance Vertical

Cu

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Sample: 11 Wells. Same Pad

Days On Production

DTU treated wells outperformed the average child wells

Kansas Nitrogen Low cost, High

Volume and High Purity Gas

Resources

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• 800-acre direct leases

• Paving the way for commercialization of DT Ultravert

▪ Previous DT Ultravert deployments in the Permian and Piceance basins both used significant amounts of nitrogen in its liquid and gaseous forms

▪ The cost of nitrogen for the Permian Basin was $79,200 for 8,762 Mcf of nitrogen, with average unit price of $9.04 per Mcf of nitrogen

▪ The cost in the Piceance Basin was $140,400 for 12,000 Mcf of nitrogen, with a unit price of $11.70 per Mcf of nitrogen

▪ Discovery of high volume low-cost nitrogen source should accelerate commercialization and improve operational margins

• Flow test, conducted on June 21st, indicates high pressure and highly pure nitrogen resources in the reservoir

▪ Test performed at 48/100th choke

▪ Initial flow rate of 2,581 Mcfpd at 415 PSI

▪ 99.59% nitrogen

• Highlands is in discussions with various end users of nitrogen

• Highlands has identified additional acreage positions with its ongoing leasing campaign

• Industrial nitrogen gas market is a $4.1 billion annual industry in the United States

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• Equipment being mobilized to location in September to extract and concentrate Argon for further testing

• In discussions with end users

• Nearby Enhanced Oil Recovery (EOR) opportunities

• Possible by-product of Argon recovery

Sample: GSC003 3 Min. 06/21/2018

• Normal recovery, using the natural pressure ofthe reservoir and artificial pumps, can leave 50-70% of the oil in place

▪ This primary recovery method is ultimatelylimited in its efficiency

• Recovery of remaining 30-50% of the reservesrequires Enhanced Oil Recovery (EOR) methods,both secondary and tertiary

▪ Secondary and tertiary recovery techniquesinject gases and water to displace oil left inplace and re-pressurize the reservoir

• Highlands acreage is well-positioned for servingnitrogen enabled recovery and DT Ultravertservices to many oil and gas wells in the nearbyHugoton field and DJ Basin

▪ Hugoton field wells extend from southernKansas to Texas

▪ Highlands is exploring various concepts forwell productivity enhancement in the areaincluding acquisition and re-vitalization oflegacy wells

▪ The natural gas extracted from Hugotonfield of Kansas and Oklahoma usuallycontains high concentrations of helium

COLORADO

KANSAS

Nearby Colorado Wells

Nearby Northwestern Hugoton Field

Wells 14

Nitrogen is an essential industrial gas for the aerospace industry, used in autoclaving airplane wings, manufacturing of

carbon composites and metals, wind tunnels, laser cutting, tires etc.

Nitrogen based fertilizers are the backbone of modern agriculture and nitrogen’s uses extend to anything from

freezing fresh products to filling most packaged food items on supermarket shelves

Modern steel and aluminum production utilizes nitrogen for manufacturing lightweight, strong metals and for preventing

oxidation to preserve quality

From heat treatment and welding of various composites to manufacturing of glasses and airbags, nitrogen is one of the

vital industrial gases used in auto manufacturing15

Carbon Dioxide Exploration

Arizona Carbon Dioxide Prospect for Enhanced Oil

Recovery

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• 46,000-acre direct leases in Apache County, Arizona

• Area is adjacent to Kinder Morgan’s carbon dioxide project, where that company was planning a $982 million carbon dioxide pipeline project which lost momentum with the oil price decline in 2014

▪ This removes some of the development risk of the asset▪ In 2015, the carbon dioxide pipeline was put on hold

• Oil prices recovered and other operational costs have improved since 2014-2015▪ Higher oil prices can make carbon dioxide enhanced oil recovery more attractive

• Highlands is in discussions with parties to explore and market its carbon dioxide

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Carbon dioxide Enhanced Oil Recovery enables producers to recover the oil that was not effectively captured by traditional

methods

Carbon dioxide is an essential gas for the food and beverage industry, as it plays an important part in carbonation and food preservation. The recent shortage of carbon dioxide in the UK

made headlines

Carbon dioxide is a feedstock for the firefighting industry, as it replaces the oxygen and extinguishes the fire

Carbon dioxide is used in the pulp and paper industry to control pH levels, enhance pulp yield, and wash brown stock

and bleached stock18

Montana Helios Two

Natural Gas and Helium Prospect

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(1) RPS Knowledge Reservoir Competent Persons Report dated 6 January, 2017

(2) Zedi Solutions Sample Analysis Report dated 25 January 2017

Locator Map with Nearby Production

• P50 NPV10 of U.S.$ 341 million1

• 221,973 acres leased in Montana

• Multi-stage evaluation and commercialization process

▪ Helios 5-52 16-22 injected with water and foam-based stimulation

▪ Two stages opened for production testing and data gathering on 5 Dec 2017

▪ Gas production peaked at 216 Mcfpd

▪ Stage #1 currently undergoing clay hydration treatment to potentially generate significant permeability

▪ Opening of Stage #1 shortly

• Confirmed helium presence of 0.31% to 0.33%2

▪ Not included in Competant Person’s Reports NPV10 estimate

HNR acreage

Oil wells Natural gas wells

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Dry well

HNR Helios 2 Operations

Highlands Natural Resources

Robert Price

President & CEO

+1 (0) 303 322 1066

robert.price@highlandsnr.com

Redleaf Communications

Elisabeth Cowell

Ian Silvera

Fiona Norman

highlands@redleafpr.com

Cantor Fitzgerald

Nicholas Tulloch

David Porter

Nick.Tulloch@cantor.co.uk

dporter@cantor.co.uk