Ethanol Presentation May 2012

7/31/2019 Ethanol Presentation May 2012

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9 May 2012

Maple Energy


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Disclaimer

This Presentation and other information which you are given at the time of presentation, in whatever form, do not constitute or form part of any offer orinvitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any shares in Maple, nor shall it or any part of it form the basis of, orbe relied upon in connection with, any contract or commitment whatsoever. This Presentation does not constitute a recommendation regarding theshares of Maple. No part of the contents of this Presentation is to be taken as any form of commitment on the part of the Company to proceed with anytransaction, and the right is reserved to terminate any discussions or negotiations with any prospective investors. The distribution of this Presentation incertain jurisdictions may be restricted by law. No action has been taken or will be taken by Maple, by the existing shareholders or by any professionaladviser to Maple, that would permit an offer of shares or possession or distribution of this Presentation where action for that purpose is required. Personsinto whose possession this Presentation comes should inform themselves about, and observe, any such restrictions. Any failure to comply with theserestrictions may constitute a violation of the securities laws of any such jurisdiction.

In no circumstances will Maple be responsible for any costs, losses or expenses incurred in connection with any appraisal or investigation of Maple. Infurnishing this Presentation, Maple does not undertake or agree to any obligation to provide the recipient with access to any additional information or toupdate this Presentation or to correct any inaccuracies in, or omissions from, this Presentation that may become apparent.

This Presentation has been prepared by Maple and all reasonable care has been taken to ensure that the facts stated in the Presentation are true andaccurate in all material respects to the best of thedirectorsknowledge, information and belief and that the opinions expressed are fair and reasonable.No reliance can be placed for any purpose whatsoever on the information contained in this Presentation or on its completeness. Certain figures notedherein are illustrative projections and are based on a number of assumptions, and no figures should be regarded as a profit forecast.

This Presentation contains forward-looking statements, which are based on Maple's current expectations and assumptions and involve known andunknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in suchstatements. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a number of variables, whichcould cause actual results or trends to differ materially. Each forward-looking statement speaks only as of the date of the particular statement. Except asrequired by the AIM Rules, the London Stock Exchange or by law, the Company disclaims any obligation or undertaking to release publicly any updatesor revisions 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.

In this presentation, theCompanyand Maple refer to Maple Energy plc and/or its subsidiaries, unless otherwise indicated or the context otherwiserequires.


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Company Highlights

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Vertically integrated Ethanol Project which began producing ethanol in April 2012

Expected low-cost, globally competitive ethanol producer

Enhanced operational efficiency of Ethanol Project through automation and sophisticated techniques and

processes

Attractive ethanol demand outlook supported by existing and increasing mandates for ethanol on a global basis

Stable existing cash flow from hydrocarbon production, refining and marketing operations

Management team with significant in-country project management, development and operational experience


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Maple Summary

Core Business

An integrated independent energy company with assets andoperations in Peru

Primary goal of becoming one of the lowest cost producers of fuel-grade ethanol in the world

Current Operations

Operation of an integrated ethanol production business producingfuel-grade ethanol

Operation of a fully integrated liquid hydrocarbon business fromproduction to refining and marketing

Evaluation of a shale gas opportunity Strategy

Complete Ethanol Project and ramp up commercial production

during 2012

Seek to expand current Ethanol Project

Seek to identify additional ethanol development opportunities

Maximise efficiency and profitability of hydrocarbon production,refining and marketing operations

Management Team

Significant in-country experience since 1993

Project management, construction, development and operationexpertise

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100% working interest in three producing oilfields in Peru:

December 2011 average production: approximately 485 bpd

Total net 2P reserves of 1.423 mmbbls and net 3P reserves of2.402 mmbbls as of 31 December 2011

Exploration assets within prospective hydrocarbon region

Oil & Gas Production & Exploration (2)

Summary Ethanol Project

Agriculture:

Approximately 13,500 ha of land owned near Northern coast of Peru Water rights to irrigate sugar cane plantation

Water delivery and drip irrigation systems in operation

Industrial:

Distillery with capacity to produce up to 35 million gallons of ethanolper annum

37 MW co-generation power plant expected to be placed intooperation during the middle of 2012

Total estimated project cost is in the range of US$275-280 million(1)

Commercial production of ethanol commenced in April 2012

Refining and Marketing

Maple-operated Pucallpa refinery

Feedstock directly from Maples producing fields and Aguaytia Energy

Daily capacity of 3,000-4,100 bbls based on type of feedstock andproduct demand

Storage capacity of approximately 200,000 bbls

Products sold primarily into local markets

(1) Based on Maples management estimates (including interest during construction, a debt service reserve account, and certainvalue-added taxes, and excluding assets acquired under finance leases). The estimated total costs for the Ethanol Project aremanagement estimates based on numerous assumptions and such estimates are subjective, and therefore susceptible tovarying interpretations and periodic re-evaluation based on actual experience and business, market and industry conditions.

Actual project costs may differ from the estimates above, and such differences may be material.(2) Reserves based on 10-year extension of License Contract for Blocks 31-B and 31-D.


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Peru: Stable Emerging Market Supports Growing Ethanol Industry

Peru is a stable and expanding economy

6.9% GDP growth for 2011 (1)

Low inflation: 4.7% for 2011 (1)

Foreign reserves at the end of 2011 were US$48.8 billion (1)

Sovereign risk rating for Peru among the lowest in Latin America (2)

Foreign currency sovereign credit investment grade rating from FitchRatings, Standard & Poors and Moodys

Economic Summary Peruvian Ethanol Industry

Existing Peruvian sugar cane and ethanol production:

As of 2010 approximately 80,000 hectares of sugar cane plantations inoperation

Currently, sugar cane is primarily grown for sugar rather than ethanol

Current government is encouraging the development of ethanol

Another local, independent ethanol producer currently producing fuel-grade ethanol

High sugar cane yields:

Climate allows year-round planting and harvesting of sugar cane

Peruvian annual sugar cane yields per hectare are among the highest in

the world

Duty-free trade agreements:

Under existing regulations, Peru is able to export ethanol directly to theEU and US duty-free

Peru has an ethanol mandate:

Existing legislation requiring a 7.8% ethanol content in gasoline sold

Demand for ethanol in the Peruvian domestic market is expected toeventually reach over 30million gallons per year

Peruvian GDP Growth (1)

(1) Source: Peruv ian Cent ra l Bank

(2) Source: Fitch Ratings February 2012

5

0%

2%

4%

6%

8%

10%

12%

2003 2004 2005 2006 2007 2008 2009 2010 2011

Growth%


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EU 2009 Renewable Energy DirectiveEU 2003 Renewable Energy Directive

Biofuels: EU Sustainability Criteria (1)

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5.75% of biofuels in transport sector

by December 2010 (non-compulsory)

Sustainability criteria for biofuels

10% share of energy from renewablesources in transport by 2020 (mandatory)

Sustainability Criteria

Only biofuels that meet sustainability criteria will count toward the targets of the 2009 RenewableEnergy Directive

Germany began implementing sustainability criteria in 2011

35% greenhouse gas emission savings target from the use of biofuels by 2010 (50% by 2017)

Biofuels should not be made from raw materials from tropical forests or recently deforested areas,drained peatland, wetland, or highly biodiverse or natural protected areas

Maples Ethanol

Sugar cane ethanol has a 71% greenhouse gas emission savings compared to fossil fuelsaccording to EU default values for biofuels (versus 49% corn, 34% wheat, and 52% sugar beet)(2)(3)

Maple is currently applying for sustainability certification with the Roundtable on SustainableBiofuels (RSB); the RSB certification process has been approved for use in the EU

SustainableBiofuels

Certificates(voluntaryschemes)

(1) Source: European Commission - Renewable Energy. Directive 2003/30/EC, Directive 2009/28/EC and MEMO/10/247.(2) Source: Directive 2009/28/EC Annex V, Rules for calculating the greenhouse gas impact of biofuels, bioliquids and their fossil fuel comparators.(3) Default value for wheat is based on natural gas as process fuel in a conventional boiler.


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Ethanol Project: Expected Low Cost Producer

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Key Project Drivers and Competitive Positioning

High Sugar Cane Yield Unique growing conditions in Northern Peru result in high sugar cane production yields per hectare

Climate allows year-round growing and harvesting

Drip irrigation system enhances productivity and yields

Integrated Model Vertically integrated production model generates significant benefits and efficiencies Direct control of feedstock supply and costs

Low Transportation Costs Ethanol plant within the plantation reduces transportation costs and improves production efficiency Proximity to a sea-port

Low Cost Ethanol

Production Sugar cane is the most efficient feedstock for the production of ethanol

Modern techniques and automation enhance operational efficiency

Unit production costs are expected to be competitive, on a global basis, with existing producers ofethanol

Duty Free Trade Peru is positioned to sell duty-free to both the EU and US under existing trade agreements


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Ethanol Project: Location

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Ethanol Project: Agriculture and Irrigation

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Agriculture Irrigation

Approximately 13,500 hectares of total land:

Initial acquisition of 10,676 hectares in 2007

2,839 hectares subsequently acquired

7,800 hectares net sugar cane plantation planned in first phase

Seed cane farm developed (345 ha) with three principal varieties; tenadditional varieties under further evaluation for potential future use

Commercial planting of sugar cane started in January 2011

Over 6,500 hectares of sugar cane planted by the end of April 2012

Agricultural operations overseen by Booker Tate

Harvesting and processing of sugar cane started in late March 2012

Water sourced from Chira river, and key water rights obtained

Macacara and El Arenal pumping stations completed and in operation

Macacara and El Arenal reservoirs completed and in operation

Approximate 43-km water pipeline system completed and in operation

Approximately 7,280 hectares of drip irrigation tape installed to date

Commercial PlantingMacacara Pumping StationSeed Cane Farm


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Legend

1. River pumping stations2. Water reservoirs3. Re-pumping stations

4. Water pipeline system

5. Drip pumping stations6. Drip irrigation system7. Sugar cane field

1

3

2

4

6

5

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Ethanol Project - Water Delivery System Overview

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Ethanol Project: Industrial Facilities

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Ethanol and Power Generation Plant

Located within the sugar cane plantation to minimise transportationcosts and reduce sucrose deterioration

Substantial completion of ethanol plant and start-up by early April2012, except for certain works primarily related to the 37-megawattpower plant

Commenced ethanol production in April 2012

37-megawatt power plant substantially completed and expected to befully commissioned and placed into operation during the middle of2012

60 kilovolt electric transmission line completed and in operation

Storage, Loading and Export Facilities

Land acquired near Paitas industrial zone for storage and loadingfacilities

Key permits and authorisations for the relevant stage of developmenthave been obtained

Contract executed with third-party contractor to build, own andoperate facilities

Substantial portion of facilities completed, including the storagefacility which is currently available for use

Submarine pipeline and mooring system installed

Entire facility is expected to be placed into operation in Q2 2012

Ethanol Plant

Paita Storage , Loading and Export Facilities


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Integrated Production Process for Ethanol

Land clearing Bed forming Installation of dripirrigation system

GPS mechanical planting

A. SOIL PREPARATION AND DRIP IRRIGATION B. MECHANICAL PLANTING AND HARVESTING

D. TRANSPORTATION AND MARKETINGC.SUGAR CANE PROCESSING AND ETHANOL

PRODUCTION

GPS mechanicalharvesting

Sugar cane industrialprocess

Ethanol transportation

Storage, loading andexport facilities

Sales offuel-gradeethanol

Juice Diffuser

Bagasse and foliage

35 MM GALLONETHANOL PLANT

37 MW POWERPLANT

TRANSMISSION LINE

STORAGE ANDLOADING FACILITY

Sales to national

power grid

ESTIMATED 17 MEGAWATTS

ESTIMATED 20 MEGAWATTS

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Ethanol Project: Export Strategy and Ethanol Off-Take

Maples Ethanol Project is export-oriented

Initial primary export market will be the EU

Five-year Ethanol Distribution Agreement with a subsidiary of Mitsui & Co. Ltd has been executed

Ethanol to be sold FOB at the loading facilities near Paita where the counterparty will assume risk and responsibility

Peru is positioned to sell duty-free to both the EU and US under existing trade agreements

Peruvian domestic market expected to have capacity for a portion of Maples ethanol production

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Ethanol Export Locations


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Maple Oil & Gas Assets Map

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(1) Reflects Maple's historic unaudited production volumes of crude oil from the Maquia, Agua Caliente and Pacaya oil fields for theperiods indicated.

(2) Source: Netherland, Sewell and Associates Inc.Based on 10-year extension of License Contract for Blocks 31-B and 31-Dthrough March 2024.

(3) Reflects Maple's net oil reserves as at 31 December 2011.(4) Reflects Maple's contingent resources as at 31 December 2011.

Maple Crude Oil Production (1)

Oil & Gas Exploration and Production

Maple is currently producing crude oil in three oilfields:

Maquia (Block 31-B) Agua Caliente (Block 31-D)

Pacaya (Block 31-E)

Maple is the operator and holds a 100% working interest in allthree blocks

Average crude oil production for December 2011 wasapproximately 485 bpd

Oil quality is high gravity (30 44 API) low sulphur

Fiscal regime with attractive royalty obligations:

Pacaya 15% (fixed), Maquia 50% (capped) and Agua Caliente 30% (capped)

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Producing Assets

Exploration

100% working interest in Block 31-E:

New shale gas opportunity

Devonian shale formation underlies Blocks 31-E and 31-B

Maple intends to identify a joint venture partner for further explorationand appraisal of Block 31-E

33.77% economic interest in the Aguayta Deep gas prospect in Block31-C

Reserves and Resources (2)

0

100

200

300

400

500

600

2008 2009 2010 2011

bpd

(Thousand bbls) 31-B 31-D 31-E

Oil Reserves (3) Maquia Agua Caliente Pacaya Total

Proven 294.4 391.2 265.3 950.9

Probable 313.0 109.4 50.0 472.4

Possible 425.7 352.2 200.7 978.6

Total 1,033.0 852.8 516.1 2,401.9

Contingent Oil Resources (4) Gross (Thousand bbls) Net (Thousand bbls)

Low Estimate (1C) 349.2 329.0

Best Estimate (2C) 142.9 134.6

High Estimate (3C) 13.2 12.4


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Refining & Marketing

Maple operates the Pucallpa Refinery and Sales Plant, located in

Pucallpa in the Central Peruvian jungle The refinery has daily capacity to process:

3,000 barrels of crude oil producing a Residual 6 fuel oil;

3,400 barrels of crude oil producing a Residual 5 fuel oil; or

4,100 barrels of natural gasoline

The facility also maintains approximately 200,000 barrels of feedstockand refined product storage capacity

Feedstocks for the refinery consist of natural gasoline purchased from

Aguaytia Energy and crude oil produced from Maples oilfields

Maple produces a number of refined products from the refineryincluding gasoline, diesel, solvents, aviation fuel, naphthas andresidual fuel oil

These products are marketed by Maple in the Central Peruvianjungle, Central Peruvian highlands and Lima

The strategic location of the refinery in the rapidly growing CentralPeruvian jungle region and the integration of Maples operations

provide an important competitive advantage

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Refining & Marketing

Pucallpa Refinery

(1) Reflects Maples unaudited historic feedstock volumes delivered to the Pucallpa Refinery for the periodsindicated.

Refining Feedstock Volumes (1)

0

500

1,000

1,500

2,000

2,500

3,000

2008 2009 2010 2011

bpd


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Maple Financial Summary

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(1) Adjusted earnings before interest, taxation, depreciation and amortisation (Adjusted EBITDA) is calculated as operating income plus depreciation,amortisation, Base Logistica Ucayali (BLU Camp) impairment, and employee termination cost.

Key Performance

Indicators

2011 2010

Refinery sales volume, barrels 681,894 731,460

Gross profit per barrel sold US$41.90 US$28.82

US$000Consolidated

US$000Consolidated

Revenue from operations 86,979 71,153

Gross profit 28,570 21,079

Operating income 9,978 3,665

Profit for the year 12,710 236

Adjusted EBITDA (1) 16,710 11,843


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Corporate Information

Listing Venue / Ticker AIM (London): MPLE; BVL (Peru): MPLE

Ordinary SharesOutstanding 149.2 million

Nomad & Main Brokers

Cenkos Securities plc (nomad & joint-broker) - UK

Mirabaud Securities Limited (joint-broker) - UK

Credibolsa SAB (listing sponsor) - Peru

Listing Highlights

Lima Stock Exchange main indexes: IGBVL (36), ISBVL (15), INCA

Eligible security for investment by Peruvian Pension Funds

Part of the first Peruvian ETF MSCI All Peru Capped Index Fund (EPU)

Part of FTSE AIM 100 Index

Board of Directors

Nigel B. Christie Chairman of the Board and Independent Non-Executive Director

Rex W. Canon Chief Executive Officer, President and Executive Director

Tony L. Hines Senior Vice President of Operations and Executive Director

Carlos A. Palacios Rey Independent Non-Executive Director

Gianfranco Castagola Ziga Non-Executive Director

Alberto Camet Blanco Non-Executive Director

Francisco Mesquita Neto - Independent Non-Executive Director

Independent Research

Mirabaud Securities Limited - UK

Cenkos Securities plc - UK

BBVA Research - Peru

Kallpa Securities SAB - Peru

Seminario & Ca SAB - Peru

Website WWW.MAPLE-ENERGY.COM


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Ethanol Project Photo Album


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Ethanol Project: Land Development

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Macacara River Pumping Station

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S


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El Arenal River Pumping Station

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M W t R i


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Macacara Water Reservoir

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Drip P mping Station DPS 5


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Drip Pumping Station DPS 5

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Drip Irrigation System


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Drip Irrigation System

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Plantation Equipment


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Plantation Equipment

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Sugar Cane Commercial Planting


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Seed Cane Farm


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Seed Cane Farm

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Ethanol Plant


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Ethanol Plant

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Sugar Cane Reception and Preparation Facilities


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Sugar Cane Reception and Preparation Facilities

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Diffuser


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Fermentation Facilities


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Distillation Facilities


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Cooling Water System


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Steam Generation Facilities


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Motor Control Center Room


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Power Generation House


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Electric Substation


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Electric Transmission Line


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Ethanol Storage and Loading Facility


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Ethanol Storage and Loading Facility


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Documents

Ethanol Presentation May 2012