Energy World Corporation Ltd · ASX:EWC
Energy World — Shareholder Meeting (November 2025)
28 slides from Energy World's shareholder meeting presentation, Nov 17, 2025
Slide 1: Building Asia’s Next LNG and Power Growth Engine
Building Asia’s Next LNG and Power Growth Engine AGM PRESENTATION | NOVEMBER 2025 Energy World Corporation Ltd (ASX: EWC)
Slide 2: Disclaimer
DISCLAIMER This presentation (Presentation) has been prepared by Energy World Corporation Ltd (Energy World or the This Presentation does not constitute investment or financial product advice (nor tax, accounting or legal Company). This Presentation has been prepared in relation the meeting of share
Slide 3: Agenda
AGENDA 01 Strategic Reset & Governance Overhaul 02 Capital Structure Reset 03 Philippines: Pagbilao LNG Hub & Power Project 04 Indonesia: Sengkang LNG Facility 05 Next Steps & Shareholder Resolutions ENERGY WORLD CORPORATION LTD | PG 3
Slide 4: Energy World Corporation
ENERGY WORLD CORPORATION DEVELOPING AN ENERGY INFRASTRUCTURE PLATFORM IN ASIA Philippines: A 650 MW combined cycle gas fired power station in the Philippines which will play a stabilising role in the country’s energy transformation Indonesia: A modular 2mtpa LNG manufacturing facility in Indonesia w
Slide 5: Strategic Reset in Motion
STRATEGIC RESET IN MOTION GOVERNANCE, CAPITAL, EXECUTION Following a comprehensive review initiated in 2024, Energy World has undergone significant change in 2025: CLEAR STRATEGIC PRIORITIES New Board members and governance structure, now majority non-executive PROJECTS CAPITAL GOVERNANCE MANAGEMENT
Slide 6: 2026 Priorities
2026 PRIORITIES CAPITAL AND CLARITY PAGBILAO POWER PROJECT DETERMINING A STRATEGIC AUSTRALIAN FINANCING WAY FORWARD IN INDONESIA ASSET SALES • US investment bank appointed • Gas supply agreement is a • Sale of non-core land parcels to lead capital raise critical next step that completed involves com
Slide 7: Corporate Snapshot
CORPORATE SNAPSHOT BOARD AND LEADERSHIP TEAM KEY SHAREHOLDERS VALUATION METRICS Alan Jowell Non-Executive Chairman PERCENTAGE HOLDING BALANCE SHEET DATA AS AT Brian Allen Executive Director CURRENT PRO-FORMA 31-DEC-24 30-JUN-25 EWI/ Slipform (Related to Graham Elliott, Graham Elliott Non-Executive D
Slide 8: Experienced Leadership Team Engaged to Drive Delivery
EXPERIENCED LEADERSHIP TEAM ENGAGED TO DRIVE DELIVERY EDWARD MCCARTIN, JOSEPH MEYER, CEO CFO • 25+ years building and operating power and gas • 30+ years as CFO/COO in Asia with US infrastructure across Southeast Asia multinationals, TSE-listed and PE portfolio companies • Legal background with expe
Slide 9: Investment Highlights
INVESTMENT HIGHLIGHTS TURNAROUND PLAY WITH HIGH-VALUE ASSETS CAPITAL RESET / EXECUTION INDEPENDENTLY VERIFIED ASSETS / EMBEDDED VALUE TEAM IN PLACE MULTIPLE GROWTH PATHWAYS • Proposed Debt-to- • Refreshed independent • Independent reviews confirm asset integrity equity conversion de- board with clea
Slide 10: Pagbilao, Philippines: Building Integrated LNG & Power Infrastructure
PAGBILAO, PHILIPPINES: BUILDING INTEGRATED LNG & POWER INFRASTRUCTURE • First onshore LNG import terminal in the Philippines • 650 MW CCGT power plant adjacent to LNG terminal • 230 kV grid connection to NGCP substation • Designed for scalability - infrastructure supports ~3,000 MW total • Terminal
Slide 11: Pagbilao LNG Terminal
PAGBILAO LNG TERMINAL PHILIPPINES’ FIRST ONSHOREFACILITY A strategically important asset for Philippines’ nascent gas industry 130,000 m³ LNG tank mostly Licensed private port (with Supports adjacent 650 MW Foundations laid for second complete (lining (on site) and customs) CCGT plant tank piping to
Slide 12: Pagbilao Power
PAGBILAO POWER 650 MW CCGT NEARING COMMISSIONING 2 x 200 MW Siemens gas Potential Revenue Sources: EWC is building a 14km 230 kV turbines onsite • Wholesale Electricity Spot transmission line to connect to Market (WESM) the main grid at NGCP’s new 1 x 250mw steam turbine – • Distribution Utilities r
Slide 13: Independent Technical Review
INDEPENDENT TECHNICAL REVIEW CONFIRMS READINESS AND NO SHOWSTOPPING RED FLAGS Black & Veatch (B&V) completed a Technical Due Diligence (TDD) review of the Pagbilao LNG Hub and Power Station: • Forms the basis for defining EPC scope and validating asset readiness • Reviewed by Sproule for inclusion i
Slide 14: Pagbilao: Final Construction Scope
PAGBILAO FINAL CONSTRUCTION SCOPE: OUR “TO-DO LIST” LNG HUB: • Regasification unit installation • Jetty topside and LNG pipework completion • Tank insulation, pump installation POWER PLANT: • Steam turbine install, HRSGs, cooling systems • Switchyard and transformer procurement • Balance-of-plant wo
Slide 15: Pagbilao: Capex to Complete
PAGBILAO CAPEX TO COMPLETE (EXCLUDING EPC WRAP) Base case capex to complete: Company Estimate B&V TDD Estimate Sproule Estimate Sproule adopted the B&V estimates and added owner's costs. $m Low High LNG Hub Terminal 28.9 32.9 35.5 39.8 This is in line with company expectation for EPC “wrap” Power Pl
Slide 16: Philippines: Structural Power Demand Growth Expected to Accelerate
PHILIPPINES STRUCTURAL POWER DEMAND GROWTH EXPECTED TO ACCELERATE Market Fundamentals In the main region of Luzon, consumption and demand has grown at ~4% rate Year-on-year demand growth in the Philippines was robust - with demand for key over the past ten years, driven fairly evenly across all core
Slide 17: Philippines: Serving Demand Growth Will Be Gas and Renewables
PHILIPPINES SERVING DEMAND GROWTH WILL BE GAS AND RENEWABLES Market Fundamentals Luzon - the longer term forecast evolution of the supply mix is skewed towards additional gas/LNG and renewables, particularly solar Coal phase-outs and grid constraints drive the need for new fast, flexible baseload Go
Slide 18: Additional Gas-Fired Power Is Needed, But Difficult to Feed
BY ALL MEASURES, ADDITIONAL GAS-FIRED POWER IS NEEDED, BUT WILL BE DIFFICULT TO FEED IN EFFICIENTLY Market Outlook Around 5-6 GW of new gas capacity is needed by 2035 across all scenarios LNG-importing peers (e.g., Singapore, Vietnam) face similar bottlenecks EWC is well-positioned with first-mover
Slide 19: Market Economics
MARKET ECONOMICS STRONG TARIFFS SUPPORT PROJECT VIABILITY Market Outlook WESM economics robust across scenarios, and expected to improve in the mid-2030s after the initial weakness due to forced in GEAP capacity Wholesale Electricity Spot Market (WESM) tariffs are volatile EWC’s 650 MW CCGT is posit
Slide 20: Storage Opportunity
STORAGE OPPORTUNITY MONETISING UNUSED HUB CAPACITY Rare Large-Scale Storage Capacity • EWC’s LNG tank can store a full 130,000 m³ cargo - a capability rarely available elsewhere in the region. Acute Regional Storage Shortfall • Demand for third-party LNG storage across the Philippines and the broade
Slide 21: LNG Trading Optionality
LNG TRADING OPTIONALITY PLATFORM FOR PRICE ARBITRAGE Gas Dynamics and Risk ASEAN region faces rising LNG import Spot prices are seasonal and jump above long-term prices in winter months, but needs, limited storage more recently market tightness has resulted in substantially higher spot prices Spot c
Slide 22: Positioned for Value Creation
POSITIONED FOR VALUE CREATION Philippines Peak Energy Demand Philippines Generation Mix GW CAGR: 5.2% 84% 76% 65% Strategically Positioned to Capture 01 Natural gas 43 68 17 Others 24% 35% Philippines' High-Growth Power Market 2022 2040 2050 16% 2022 2040 2050 Project Status Substantially de-risked
Slide 23: Strategic Asset in Indonesia: Sengkang LNG
STRATEGIC ASSET IN INDONESIA SENGKANG LNG ENERGY ENERGY WORLD WORLD CORPORATION CORPORATION LTD LTD | PG | PG 2323
Slide 24: Sengkang LNG
SENGKANG LNG EXPORT-READY INFRASTRUCTURE WITH REGIONAL REACH AND TOLLING BUSINESS MODEL Modular 2 mtpa design Tolling business model: Construction is Building a storage and Sengkang potentially comprising 4 x 500ktpa • EWC will manufacture LNG for substantially complete break-bulk business could cre
Slide 25: Sengkang LNG: Key Due Diligence Findings
SENGKANG LNG KEY DUE DILIGENCE FINDINGS Independent TDD completed by B&V Gas supply update needed from EEES (pressure, volume, composition) Reactivation of CHART & GTT IP licences required EPC contractor to be engaged to execute final works 8–12 MW internal power required for booster compression, ga
Slide 26: Sengkang LNG Business Model
SENGKANG LNG BUSINESS MODEL • Mostly complete PLANT • Capex of ~US$125m to US$140 (see next page) to complete first 1m tpa • Build time from financing approx. 18 months to first LNG, depending on dredging • Indonesia has determined using gas domestically via LNG is “better” than imported diesel. • I
Slide 27: Sengkang Capex to Complete First 1Mtpa
SENGKANG CAPEX TO COMPLETE Company pricing was on quotes • B&V escalated these for inflation FIRST 1MPTA • Then they benchmarked costs against their Asia-region database Company B&V Estimates Sproule B&V also included: • the cost of a new gas turbine - not in the original Company $m Escalation B&V D
Slide 28: EWC: Energising Asia
EWC: Energising Asia CONTACT US For investor, partner and media enquiries, please contact: Telephone: +852 2528 0082 Email: EWC188@netvigator.com