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Maple Energy

May 2012

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 or invitation 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, or be relied upon in connection with, any contract or commitment whatsoever. This Presentation does not constitute a recommendation regarding the shares 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 any transaction, and the right is reserved to terminate any discussions or negotiations with any prospective investors. The distribution of this Presentation in certain jurisdictions may be restricted by law. No action has been taken or will be taken by Maple, by the existing shareholders or by any professional adviser to Maple, that would permit an offer of shares or possession or distribution of this Presentation where action for that purpose is required. Persons into whose possession this Presentation comes should inform themselves about, and observe, any such restrictions. Any failure to comply with these restrictions 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. In furnishing this Presentation, Maple does not undertake or agree to any obligation to provide the recipient with access to any additional information or to update 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 and accurate in all material respects to the best of the directors knowledge, 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 noted herein 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 and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a number of variables, which could cause actual results or trends to differ materially. Each forward-looking statement speaks only as of the date of the particular statement. Except as required by the AIM Rules, the London Stock Exchange or by law, the Company disclaims any obligation or undertaking to release publicly any updates or 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, the Company and Maple refer to Maple Energy plc and/or its subsidiaries, unless otherwise indicated or the context otherwise requires.

Company Highlights

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

Maple Summary
Summary

Ethanol Project

Core Business An integrated independent energy company with assets and operations in Peru Primary goal of becoming one of the lowest cost producers of fuelgrade ethanol in the world Current Operations Operation of an integrated ethanol production business producing fuel-grade ethanol Operation of a fully integrated liquid hydrocarbon business from production 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 operation expertise
Based on Maples management estimates (including interest during construction, a debt service reserve account, and certain value-added taxes, and excluding assets acquired under finance leases). The estimated total costs for the Ethanol Project are management estimates based on numerous assumptions and such estimates are subjective, and therefore susceptible to varying 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. Reserves based on 10-year extension of License Contract for Blocks 31-B and 31-D.

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 ethanol per annum 37 MW co-generation power plant expected to be placed into operation 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
Oil & Gas Production & Exploration (2)

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 of 2.402 mmbbls as of 31 December 2011 Exploration assets within prospective hydrocarbon region
Refining and Marketing

(1)

(2)

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 and product demand Storage capacity of approximately 200,000 bbls Products sold primarily into local markets
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Peru: Stable Emerging Market Supports Growing Ethanol Industry

Economic Summary

Peruvian Ethanol Industry

Peru is a stable and expanding economy


Existing Peruvian sugar cane and ethanol production:

6.9% GDP growth for 2011

(1) (1) (1)

Low inflation: 4.7% for 2011

As of 2010 approximately 80,000 hectares of sugar cane plantations in operation 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 fuelgrade ethanol

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

Sovereign risk rating for Peru among the lowest in Latin America (2) Foreign currency sovereign credit investment grade rating from Fitch Ratings, Standard & Poors and Moodys

High sugar cane yields:


Peruvian GDP Growth (1)


12%

Climate allows year-round planting and harvesting of sugar cane Peruvian annual sugar cane yields per hectare are among the highest in the world

10%

Duty-free trade agreements:

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

Growth %

8%
6% 4% 2% 0%

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 to eventually reach over 30 million gallons per year

2003

2004

2005

2006

2007

2008

2009

2010

2011

(1) (2)

Source: Peruvian Central Bank Source: Fitch Ratings February 2012

Ethanol Market: Why Ethanol?

Increasing Regulations Promoting Ethanol and Biofuels in Jurisdictions Globally


Ethanol Market Drivers:

France: (1 )
(1) France: 7% biofuels mandatory by 2010 a 6% ethanol Achieved share by energy value as of 2010 mandatory 10.6%

UK: (2(1) UK: )


4% biofuels mandate for 2011/2012 whichmandatory 3.5% biofuels increases by 2010 to 5% in 2013/2014

) EU: (1(3) EU: (1) EU:

5.75% non-compulsory 5.75% of transport fuels biofuel be biofuels by and must target by 2010 10% renewable energy 2010, and 10% by mandate in transport by 2020 2020

Oil prices Regulatory incentives and requirements Climate change concerns and emissions targets Improved technology lower ethanol production costs National energy independence considerations Key Ethanol Industry Data:

3.5% mandatory ethanol


blend in gasoline by 2010

ethanol blend in gasoline by 2010

Germany: (3 )

Canada: (4 )

Germany: (1) 6.25% mandatory

2% biofuels mandatory The national 5% biofuel


by 2012 mandate has a 2%

Canada:

(1)

biodiesel minimum 5% mandatory ethanol


blend in gasoline by 2010
US: US: (4 )
(1)

biofuels by 2010, 6.25% biofuels mandate from 2010 to gradually increasing to 2014. 7.5% by 2015 3.6% ethanol target by calorific value for 4.2% mandatory 2015 ethanol blend in

gasoline by 2010

RFS biofuel target of 36 RFS gallons by 2022of 36 billion biofuel target billionRFS2, there2022 Under gallons by is a 12.6 billion gallon mandate for 2011 blending
(6 Peru: (2)(2) Peru: )

Japan: (1) 800 million litres per year ethanol target forof 132 Biofuel target 2017/18 (equivalent to a 2% ethanol million gallons by 2012 blend)

Japan: (4 )

Estimated world ethanol production of 29.0 billion gallons in 2011 (1) US and Brazil are the global production leaders of ethanol EU, US and Japan are currently importing ethanol

ethanol blend in gasoline Starting in 2010 in

7.8% mandatory

China: (4 )(1) China:


10% mandatory ethanol 10% mandatory ethanol blend in 9 provinces

northern districts, 7.8% mandatory ethanol blend in gasoline

blend in 9 provinces

Brazil: (4 )

Spain: (1 )

India: ) India: (4(1)

Brazil: (1) 5% biofuels mandatory 25% mandatory ethanol


blend in gasoline from 2007 (5 )
by 2013 25% mandatory ethanol blend in gasoline

Spain: mandatory 5.83%


biofuels by 2010

(1)

7% biofuels mandate

blend was introduced for 10% mandatory ethanol


blend in 13 states, implementation by increasing to 20% by September 2011 in 20 2018 states, with 5 nonparticipating states

In 2010 a 5% ethanol

5.9% mandatory ethanol


blend in gasoline by 2010

(1) (2)

Source: LMC International Ltd. 2010/2011 (various reports). Renewable Energy Policy Network for the 21st Century: Renewables Global Status Report 2010 Source: Peruvian Law 28054 August 2003; Supreme Decree 013-2005-EM; Supreme Decree 021-2007-EM

Biofuels: EU Sustainability Criteria (1)


EU 2009 Renewable Energy Directive

EU 2003 Renewable Energy Directive


5.75% of biofuels in transport sector by December 2010 (non-compulsory)

10% share of energy from renewable sources in transport by 2020 (mandatory) Sustainability criteria for biofuels

Sustainability Criteria

Only biofuels that meet sustainability criteria will count toward the targets of the 2009 Renewable Energy 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

Sustainable Biofuels Certificates (voluntary schemes)

Maples Ethanol
Sugar cane ethanol has a 71% greenhouse gas emission savings compared to fossil fuels according 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 Sustainable Biofuels (RSB); the RSB certification process has been approved for use in the EU

(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.

Ethanol Project: Expected Low Cost Producer

Key Project Drivers and Competitive Positioning

Unique

growing conditions in Northern Peru result in high sugar cane production yields per hectare allows year-round growing and harvesting

High Sugar Cane Yield

Climate Drip

irrigation system enhances productivity and yields

Integrated Model

Vertically Direct

integrated production model generates significant benefits and efficiencies

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

Sugar

cane is the most efficient feedstock for the production of ethanol techniques and automation enhance operational efficiency

Low Cost Ethanol Production

Modern Unit

production costs are expected to be competitive, on a global basis, with existing producers of ethanol

Duty Free Trade

Peru

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

Ethanol Project: Location

Ethanol Project: Agriculture and Irrigation

Seed Cane Farm

Macacara Pumping Station

Commercial Planting

Agriculture

Irrigation

Approximately 13,500 hectares of total land:


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

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; ten additional 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

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Ethanol Project - Water Delivery System Overview

Legend
1 1. River pumping stations 2 2. Water reservoirs 3. Re-pumping stations 3 4 4. 5. 5 6. 6 7. 7

Water pipeline system Drip pumping stations Drip irrigation system Sugar cane field
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Ethanol Project: Industrial Facilities


Ethanol and Power Generation Plant

Located within the sugar cane plantation to minimise transportation costs and reduce sucrose deterioration Substantial completion of ethanol plant and start-up by early April 2012, except for certain works primarily related to the 37-megawatt power plant Commenced ethanol production in April 2012 37-megawatt power plant substantially completed and expected to be fully commissioned and placed into operation during the middle of 2012 60 kilovolt electric transmission line completed and in operation

Ethanol Plant

Storage, Loading and Export Facilities


Land acquired near Paitas industrial zone for storage and loading facilities Key permits and authorisations for the relevant stage of development have been obtained Contract executed with third-party contractor to build, own and operate facilities Substantial portion of facilities completed, including the storage facility which is currently available for use Submarine pipeline and mooring system installed Entire facility is expected to be placed into operation in Q2 2012
Paita Storage , Loading and Export Facilities

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Integrated Production Process for Ethanol

A. SOIL PREPARATION AND DRIP IRRIGATION

B. MECHANICAL PLANTING AND HARVESTING

Land clearing

Bed forming

Installation of drip irrigation system

GPS mechanical planting

GPS mechanical harvesting

Bagasse and foliage Juice Diffuser

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Sales to national power grid

ESTIMATED 17 MEGAWATTS

37 MW POWER PLANT TRANSMISSION LINE


ESTIMATED 20 MEGAWATTS

35 MM GALLON ETHANOL PLANT STORAGE AND LOADING FACILITY


Storage, loading and export facilities Sugar cane industrial process

Sales of fuel-grade ethanol

Ethanol transportation

C.SUGAR CANE PROCESSING AND ETHANOL PRODUCTION

D. TRANSPORTATION AND MARKETING

13

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
Ethanol Export Locations

14

Maple Oil & Gas Assets Map

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Oil & Gas Exploration and Production

Producing Assets

Maple Crude Oil Production


600
500 400

(1)

Maple is currently producing crude oil in three oilfields:


Maquia (Block 31-B) Agua Caliente (Block 31-D) Pacaya (Block 31-E)
bpd

Maple is the operator and holds a 100% working interest in all three blocks
Average crude oil production for December 2011 was approximately 485 bpd

300 200 100 0 2008 2009 2010 2011

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)

Exploration

Reserves and Resources (2)


(Thousand bbls) Oil Reserves Proven Probable Possible Total Contingent Oil Resources Low Estimate (1C) Best Estimate (2C) High Estimate (3C)
(4) (3)

100% working interest in Block 31-E:

31-B Maquia 294.4 313.0 425.7 1,033.0

31-D Agua Caliente 391.2 109.4 352.2 852.8 349.2 142.9 13.2

31-E Pacaya 265.3 50.0 200.7 516.1 Total 950.9 472.4 978.6 2,401.9 329.0 134.6 12.4

New shale gas opportunity

Devonian shale formation underlies Blocks 31-E and 31-B Maple intends to identify a joint venture partner for further exploration and appraisal of Block 31-E 33.77% economic interest in the Aguayta Deep gas prospect in Block 31-C
Reflects Maple's historic unaudited production volumes of crude oil from the Maquia, Agua Caliente and Pacaya oil fields for the periods indicated. Source: Netherland, Sewell and Associates Inc. Based on 10-year extension of License Contract for Blocks 31-B and 31-D through March 2024. Reflects Maple's net oil reserves as at 31 December 2011. Reflects Maple's contingent resources as at 31 December 2011.

Gross (Thousand bbls)

Net (Thousand bbls)

(1) (2) (3) (4)

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Refining & Marketing

Refining & Marketing

Refining Feedstock Volumes (1)


3,000 2,500

Maple operates the Pucallpa Refinery and Sales Plant, located in Pucallpa in the Central Peruvian jungle The refinery has daily capacity to process:

2,000

bpd

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

1,500 1,000 500 0

The facility also maintains approximately 200,000 barrels of feedstock and 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 refinery including gasoline, diesel, solvents, aviation fuel, naphthas and residual fuel oil These products are marketed by Maple in the Central Peruvian jungle, Central Peruvian highlands and Lima The strategic location of the refinery in the rapidly growing Central Peruvian jungle region and the integration of Maples operations provide an important competitive advantage

2008

2009

2010

2011

Pucallpa Refinery

(1)

Reflects Maples unaudited historic feedstock volumes delivered to the Pucallpa Refinery for the periods indicated.

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Maple Financial Summary

Key Performance Indicators


Refinery sales volume, barrels Gross profit per barrel sold

2011
681,894 US$41.90 US$000 Consolidated

2010
731,460 US$28.82 US$000 Consolidated 71,153 21,079 3,665 236 11,843

Revenue from operations Gross profit Operating income Profit for the year Adjusted EBITDA (1)

86,979 28,570 9,978 12,710 16,710

(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.

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Corporate Information

Listing Venue / Ticker Ordinary Shares Outstanding Nomad & Main Brokers

AIM (London): MPLE; BVL (Peru): MPLE 149.2 million Cenkos Securities plc (nomad & joint-broker) - UK Mirabaud Securities Limited (joint-broker) - UK Credibolsa SAB (listing sponsor) - Peru 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 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 Mirabaud Securities Limited - UK Cenkos Securities plc - UK BBVA Research - Peru Kallpa Securities SAB - Peru Seminario & Ca SAB - Peru WWW.MAPLE-ENERGY.COM
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Listing Highlights

Board of Directors

Independent Research

Website

Ethanol Project Photo Album

20

Ethanol Project: Land Development

21

Macacara River Pumping Station

22

El Arenal River Pumping Station

23

Macacara Water Reservoir

24

Macacara Reservoir Pumping Station

25

Drip Pumping Station DPS 5

26

Drip Irrigation System

27

Plantation Equipment

28

Sugar Cane Commercial Planting

29

Sugar Cane Commercial Planting

30

Seed Cane Farm

31

Ethanol Plant

32

Sugar Cane Reception and Preparation Facilities

33

Diffuser

34

Fermentation Facilities

35

Distillation Facilities

36

Cooling Water System

37

Steam Generation Facilities

38

Motor Control Center Room

39

Power Generation House

40

Electric Substation

41

Electric Transmission Line

42

Ethanol Storage and Loading Facility

43

Ethanol Storage and Loading Facility

44