Genel Energy Plc · LSE:GENL
Genel Energy — Corporate Update (January 2024)
9 slides from Genel Energy's corporate update, January 2024
Slide 1: Trading and operations update
A socially res tot
Slide 2: Where we are now
Where we are now Reshaped and resilient business, with potential for significant catalysts in 2024 aah a a aia Iraq-Tirkiye pipeline Tawke domestic sales Planned cost Robust established reductions delivered & balance sheet shut since March 2023 $30-35/bbl $13 million Balanced $119 million domestic s
Slide 3: Use of cash in Q4 2023
Use of cash in Q4 2023 Efficient close out of past activity, while using cash to move the business forward Tawke 4 gross production 65,780 04 CHANGE IN CASH bopd sold domestically at ~$34/bbl ar na | ae __— : 2 H _ _ ' nO) (a ao eB Organisation significantly reduced ! i Go forward Non-repeating Inve
Slide 4: Balanced cash flows by end of Q1 2024
Balanced cash flows by end of Q1 2024 Sustained domestic sales income set to cover organisation spend MONTHLY Continued cost focus, further reductions across SPEND VS INGou PosT-01 2024 organisation S million) Arbitration hearing costs and Sarta work ends in Q1 2024 We expect ts to resume, significa
Slide 5: Material cash position
Material cash position Strong balance sheet provides long-term resilience and opportunity Cash $363 million CASH, DEBT, AT YEAR-END 2023 ($ million) Debt of $248 million Annual net interest cost ~$5 million (Aiowrat Energy Trading and operations update - January 2024
Slide 6: Update on Iraq-Turkiye Pipeline
Update on Irag-Turkiye Pipeline Positive meetings ongoing, although reopening timeline not fixed e meetings between relev s regarding reopening Remains a lack of clarity the status and timing of export resumption Trading and operations update - January 2024 6
Slide 7: Miran and Bina Bawi arbitration
Miran and Bina Bawi arbitration London Court of International Arbitration trial to begin on 19 February 2024 Genel's claim is that the KRG’s termination of the PSCs was repudiatory and, as a consequence, Genel is claiming substantial damages Genel spent in excess of on acquiring and attempting to de
Slide 8: 2024 outlook
2024 outlook Preserve balance sheet strength, focus on delivering significant shareholder value RESILIENT BASE SIGNIFICANT UPSIDE CAN COME FROM A NUMBER OF EVENTS Retention of strong balance Work with sheet peers for Maximise ——- reopening of Maximisation export pipeline Beemer chances of line of si
Slide 9: For further information please contact investor relations
For further information please contact investor relations Andrew Benbow, Head of Communications andrew.benbow@genelenergy.com