Ratio Energies Limited Partnership · TASE:RATI
Ratio Energies Limited Partnership — Q3 2023 Earnings Presentation
13 slides from Ratio Energies Limited Partnership's earnings presentation, November 2023
Slide 1: Ratio Energies Investor Presentation November 2023
RATIO ENERGIES Limited Partnership INVESTOR PRESENTATION November 2023
Slide 2: Disclaimer
DISCLAIMER This presentation was prepared by Ratio Energies – Limited Partnership (the “Partnership” or “Ratio”). It is not an offer to buy or sell securities of the Partnership, nor an invitation to receive such offers, and is designed, as aforesaid, for the provision of information only. The infor
Slide 3: Ratio Energies: Our Assets and Our Partners
Ratio Energies Our Assets Our Partners 15% Leviathan Field Leviathan 73 Zone G 27 28 Field 27 28 7.75 36 36 37 70 70 10%* 7.75 Zone G * The partnership agreement with ENI includes an option for Ratio to increase its working interest up to 30% 3
Slide 4: Leviathan: ownership, reserves and resources, by the numbers
LEVIATHAN Ownership Gross Reserves & Resources1 World-class asset Operator 619 BCM and regional 15% 15% 101 77 48 mmbl energy anchor 40% 39.66% World-class operator 8 6 Contingent resources – Future development assuring the highest Contingent resources – standards of operations and 441 Current devel
Slide 5: Leviathan Phase 1A: optimizing production and monetizing
LEVIATHAN PHASE 1A: Optimizing production & monetizing Maintaining production Lying a 3rd gathering line Increasing volumes to during “Iron Swords” war, current and new customers opportunities securing needs of the from Leviathan field to the in the domestic and regional platform1 domestic market ne
Slide 6: Leviathan Phase 1B
LEVIATHAN PHASE 1B Increasing production capacity up to21 BCM/y, entering new markets Leviathan Expansion Approved development plan to 12 increase production to ~ 21 Current Capacity BCM/y BCM/y Starting FEED (Front End 7.75 Near-term Capacity 14 Mid-2025 BCM/y Engineering Design) in 2024 to increas
Slide 7: Midstream: current and planned development projects
MIDSTREAM Current and planned development projects Turkey Capacity expansion by laying a new 1 EMG offshore pipeline between Ashdod and Ashkelon Doubling export capacity to meet 2 FAJR* Increasing existing pipeline capacity for transportation of incremental volumes to Egypt regional gas Cyprus deman
Slide 8: New Exploration Licences in Zone G
NEW EXPLORATION *10% LICENCES IN 75% ZONE G1 (Operator) Zone G 15% Partnership with industry leaders creates new growth opportunities * The partnership agreement with ENI includes an option for Ratio to increase its working interest up to 30% Our Partners One of the global energy majors with Global
Slide 9: Financial Results
FINANCIAL RESULTS
Slide 10: 9M 2023 Key Financial Metrics
9M 2023 Revenue ($M) EBITDA ($M) KEY FINANCIAL 204 186 METRICS Q1-Q3 2022 Q1-Q3 2023 284 271 Operating Cash Flow ($M) 139 101 Q1-Q3 2022 Q1-Q3 2023 Q1-Q3 2022 Q1-Q3 2023 Revenue mix 26% 13% Net Income ($M) Q1-Q3 2022 Q1-Q3 2023 119 98 74% 87% Export Markets Domestic Market Q1-Q3 2022 Q1-Q3 2023 10
Slide 11: Robust & Steady Cash Flow from Phase 1A
ROBUST & 10 years Net Cash Flow Forecast from Phase 1A (2P+2C)1 STEADY $M CASH FLOW 450 >$440M FROM 350 263 Avg. estimated annual revenue PHASE 1A 245 250 188 198 179 149 141 143 149 152 150 Allows sustainable >$180M Avg. estimated dividend, debt 50 annual net CF1 payment, and -50 future investments
Slide 12: Financial Soundness & High Liquidity
FINANCIAL Long-term debt planning Net Financial Debt1 ($M) SOUNDNESS Debt service from cash flow eliminates & HIGH Conservative debt management Hedging transactions and bond buyback as LIQUIDITY part of the partnership risk-management in a changing interest rate environment 610 587 569 518 Financial
Slide 13: Ratio Energies Limited Partnership
RATIO ENERGIES LIMITED PARTNERHIP 85 Yehuda Ha’levi St. Tel-Aviv 6579614 Israel www.ratioenergies.com Alon Sela Head of Capital Markets 03-5661338 alon@ratioenergies.com
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