Chariot Limited · LSE:CHAR
Chariot — Investor Presentation (December 2021)
25 slides from Chariot's investor presentation, December 2021
Slide 1: Building an African Transitional Energy Group
BUILDING AN AFRICAN TRANSITIONAL ENERGY GROUP DECEMBER 2021
Slide 2: Disclaimer and forward looking statements
Disclaimer and forward looking statements These Presentation Materials do not constitute or form part of any invitation, offer for sale or subscription or any solicitation for any offer to buy or subscribe for any securities in the Company nor shall they or any part of them form the basis of or be r
Slide 3: Positioned to Develop Energy Projects Across Africa
Positioned to Develop Energy Projects Across Africa To create value and deliver positive change through investment in projects that are To create value and deliver positive change through investment in projects that are driving the energy revolution driving the energy revolution Moroccan offshore ga
Slide 4: H2 2021 Milestones
H2 2021 Milestones • Low-cost rig and key service contracts signed; drilling team • Completed acquisition and re-formed integrated new power team • Appraisal drilling on track for • Extended and improved December 2021 partnership agreement with • Anchor gas sales key terms Total Eren agreed with opt
Slide 5: Gas: Anchois Gas Development
Transitional Gas: Anchois Gas Development • Morocco is a premium SPAIN investment location with Pipelines Key Gas Sales Planned Pipelines world-class fiscal terms 1 Power 3 Terms Agreed Chariot 3D Seismic 2 Industry • Growing power and 3 Spain Rissana Offshore (key terms agreed) 2 Tangier Existing C
Slide 6: Gas: Fast-Tracking Development
Transitional Gas: Fast-Tracking Development Anchois-1 A Sands PLIOCENE Discovery Water Depth 388m Corrosion Well Cap B Sands MIOCENE Plie prospect CEMENT 36” PLUG A Sand 115 Bcf 26” Assess C, M & O integrity of the A&B Sand Appraisal original +128 Bcf B Sand 247 Bcf well discovery well 17 1/2” CEMEN
Slide 7: Gas: Anchois Gas Development
Transitional Gas: Anchois Gas Development Gas Sales SUBSEA-TO-SHORE DEVELOPMENT +• Anchor gas sales key terms agreed for 40 mmscf/d - take or pay up to 20 years Established +• Long term aligned partnership – option Energy Company for Partner in upstream, option for Chariot in downstream +• Option to
Slide 8: Gas: Material Upside & New Ventures
Transitional Gas: Material Upside & New Ventures MATERIAL UPSIDE IN MOROCCO NEW VENTURES Chariot Prospect Portfolio • Further material low- risk gas sands across the Lixus licence - 2C+2U 3 Tcf * + New ventures to balance portfolio (0.5 billion boe) • Gas play extends onto + Material producing gas a
Slide 9: Power: Clean Energy, Leverage & Returns
Transitional Power: Clean Energy, Leverage & Returns Future Pipeline Example: 50 MW Solar Project** 51% 70% 30% Debt Equity Successfully completed 1st solar 49%*** hybrid project for gold mine 500 MW pipeline of mining • c.US$50 M Capex projects • Take or Pay Long Term contracts = low risk + Experie
Slide 10: Power: Existing Operations
Transitional Power: Existing Operations Essakane Solar 15 MW Solar • Largest hybrid PV-HFO plant in Africa and one of the largest Generation in the world 130,000 • Together with Total Eren, we have successfully developed, PV Panels financed and built, and now operates, a 15 MW solar PV Commenced pla
Slide 11: Power: Growth of the Hydrogen Economy
Transitional Power: Growth of the Hydrogen Economy Global Hydrogen Market Forecast* Hydrogen is a key component of the energy by use - 2050 transition with huge market growth potential Goldman Sachs: “Once-in-a-generation opportunity” that could give rise to “€10 trillion market by 2050”** Green H2
Slide 12: Power: Mauritania – Location, Location, Location
Transitional Power: Mauritania – Location, Location, Location Mauritania is exceptionally well- placed for green H2 production Access to markets – geographical proximity to Europe and existing deep-sea port at Nouadhibou 600,000 T of Green H2 per Excellent resources year - potentially one of the
Slide 13: Timeline & Value Triggers
Timeline & Value Triggers Lixus/Rissana Upside (3 TCF) ANCHOIS-2 Strategic Partnering Anchois 361Bcf APPRAISAL ANCHOIS-1 FID FIRST RE-ENTRY GAS Unlocked DRILLING FEED Debt Finance Rig GAS Reserves Gas Sales CONSTRUCTION PRODUCING Report Agreements Mobilisation NEW VENTURE v v v v v v v v v v v v v 2
Slide 14: Mission & Principles
Mission & Principles Mission To create value and deliver positive change through investment in projects that are driving the energy revolution Values Positive Impact: • Environment • Local Communities • Employees • Shareholders Collaboration • Mutual Benefit • Balance • Knowledge Growth Integrity •
Slide 15: Appendices
APPENDICES
Slide 16: Building an African Transitional Energy Group
Building an African Transitional Energy Group To create value and deliver positive change through investment in projects that are driving the energy revolution Projected world population by world region Africa: Gross Domestic Product (US$) WHY AFRICA? Asia Africa ”Africa to propel world’s population
Slide 17: Executive Directors
Executive Directors Adonis Pouroulis Julian Maurice-Williams Duncan Wallace Chief Executive Officer Chief Financial Officer Technical Director • One of the founders of • Chartered Accountant with • Geologist with over 20 years Chariot, has worked in the over 15 years of experience in of experience i
Slide 18: Management Team
Management Team Benoit Garrivier Pierre Raillard Laurent Coche David Brecknock Transitional Power CEO Morocco Country Director Business Development, Drilling Manager Transitional Power • 15 years of experience in • Over 25 years’ operational and • Over 25 years experience • Over 20 years’ experience
Slide 19: Non Executive Directors
Non Executive Directors George Canjar Robert Sinclair Chris Zeal Andrew Hockey Non-executive Chairman Non-executive Director Non-executive Director Non-executive Director • Over 40 years with Shell, • Over 52 years’ experience in • Over 30 years’ experience • Over 35 years’ experience in Carrizo, Da
Slide 20: Anchois Development & Production Growth Analogues
Anchois Development & Production Growth Analogues Cassiopea-Argo, Sicily Channel Poseidon, Gulf of Cadiz Corrib, NW Ireland • ENI Operated • Repsol Operated • Vermillion Operated (developed by Shell) • >600 Bcf Resources • 150 Bcf Resources • 600 Bcf Resources • 5-600m WD, 60km flowline, 5 wells • 7
Slide 21: Lixus Offshore: Independent Resource Assessment
Lixus Offshore: Independent Resource Assessment Contingent Gas resources* (Bcf) Probability of Prospective Gas resources (Bcf) Field / Prospect Geologic Success 1C* 2C* 3C* Mean (Pg) 1U 2U 3U Mean Anchois Discovery Anchois A sand* 65 114 175 117 N/A Anchois B sand* 136 247 375 252 N/A Anchois Contin
Slide 22: Morocco fiscal terms and key figures
Morocco Exploitation Concession 25 years 31% corporate 10 year corporate (extendable tax after 10 year tax holiday by 10 years) tax holiday no taxation of profits in first 10 years of production 3.5% royalty applies Royalty, rental, training, exploration, to gas from Anchois production and bonus exp
Slide 23: Power: Partner Information
Transitional Power: Partner Information Total Eren is an Independent Power Producer which develops, finances, builds and operates over the long-term renewable energy power plants globally. 2012 - founded by Pâris Mouratoglou and David Corchia Shareholders 2020 % 2015 - €195 million capital increase
Slide 24: Synergies & Scalability
Synergies & Scalability c$1.5B 500+ MW 2C Net Cash (Gross) pipeline post-tax* equivalent to Hoover Dam c$500m 15 MW 2C Net Essakane NPV10* (Gross) Chariot Portfolio Material upside Chariot Historic Sub-Saharan total beyond Anchois Interest electricity supply, development Executives Solar share Exper
Slide 25: Corporate Snapshot
Corporate Snapshot Market Statistics Listing AIM, London Ticker Symbol CHAR Issued Shares (at 8 November 2021) 636,723,079 Underwriting Agreement Ordinary Shares to be 67,484,791 issued Share Price (at 3 December 2021) 7p Market Capitalisation (at 3 December 2021) US$60m Total Director / Employee sh