Maha Capital Ab Class A · OMXSTO:MAHA_A
Maha Capital Ab Class A — Q4 2024 Earnings Presentation
19 slides from Maha Capital Ab Class A's earnings presentation, Feb 27, 2025
Slide 1: Q4 2024 Earnings Presentation
Q4 2024 Earnings Presentation 27th February, 2024 maha-energy.com
Slide 2: Events Throughout in the Last 12 Months
Events Throughout in the Last 12 Months Conclusion of the technical discussion with Mar PDVSA (“Mesas 2025 Téncicas”) Change of control approval for Petrourdaneta’s Dec Partnet B 2024 Signed Definitive Agreements for Exits Block 70 in PetroUrdaneta and paid Oman MEUR 4.6 Dec Maha to receive 2024 USD
Slide 3: Venezuela Update
Venezuela Update maha-energy.com
Slide 4: Preliminary Business Plan
Preliminary Business Plan During January and February 2025, Maha has concluded technical discussions with PDVSA Production ~120 License Period MMboe May 30th, 2037 Oil + Gas ~150 Wells ~90 MMbbl ~180 Bscf ~40 kboepd Onstream Oil GAS Max Rate Oil + Gas Mara Oeste Mara Significant potential Associated
Slide 5: The Way Forward in Venezuela
The Way Forward in Venezuela • Concluded technical discussions with PDVSA Ongoing (“Mesas Técnicas”); Business 1) Plan Technical • Final business plan to be agreed during the Q1 Discussions 2025; • Contract negotiations will start by the end of Q1 Venezuela Getting 2025; 2) Licenses / Approvals • Ta
Slide 6: Brava Energia Update
Brava Energia Update maha-energy.com
Slide 7: Tailwinds for Brighter Future
Tailwinds for Brighter Future FPSO Atlanta First Oil ▪ First oil occurred on 31st December 2024, with wells 6H and 7H; ▪ Average production¹ in January 2025 was 20.0 kbbls/d; ▪ The other 4 wells that were connected to FPSO Petrojarl will be connected to FPSO Atlanta throughout the year; ▪ FPSO Petro
Slide 8: Operations Highlights
Operations Highlights maha-energy.com
Slide 9: Illinois Basin: Drilling new profitable wells
Illinois Basin Drilling new profitable wells adding cash flow to Maha Production Ramp Up: (boepd) +129.8% 380 334 323 276 165 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Production 4Q24 • Drilled 3 additional production wells in Q2 2024 - production 380 boe/d ramp up throughout in Q4 2024 CAPEX 4Q24 • A
Slide 10: Financial Highlights
Financial Highlights maha-energy.com
Slide 11: Financial Highlights – Production and Revenue
Q4 2024 Financial Highlights – Production and Revenue Considering only Illinois Basin Daily Production Revenue and Realized Price BOEPD TUSD | USD/BBL +130% (10%) +38% 81.7 (7%) 78.4 77.6 77.9 76.0 76.2 74.0 71.5 70.7 67.4 380 334 323 2,167 2,193 2,327 276 1,805 165 1,165 Q4 2023 Q1 2024 Q2 2024 Q3
Slide 12: Financial Highlights – OPEX and Netback
Q4 2024 Financial Highlights – OPEX and Netback Considering only Illinois Basin Production Expenses and OPEX/BBL Operating Netback and Netback/BBL TUSD | USD/BBL TUSD | USD/BBL (31%) (3%) 25.0 (14%) 40.0 (2%) 39.0 21.0 20.0 36.0 35.7 35.1 17.0 17.0 589 603 1,182 1,225 1,108 486 506 902 390 552 Q4 20
Slide 13: Financial Highlights – SG&A and EBITDA
Q4 2024 Financial Highlights – SG&A and EBITDA Considering Maha Energy Group Adjusted SG&A EBITDA TUSD TUSD (54%) 5,583 729 1,162 24% (861) 3,590 (1,766) (1,587) 2,948 2,591 2,562 1,383 2,069 (3,073) 507 196 726 1,068 216 1,332 1,473 1,657 1,836 752 1,139 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Recu
Slide 14: Financial Highlights – Net Financial Result and Net Result
Q4 2024 Financial Highlights – Net Financial Result and Net Result Considering Maha Energy Group Net Financial Result Net Result TUSD TUSD 13,367 952 8,501 9,757 5,773 (20,555) (41,225) (23,118) (26,612) (24,978) Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Highlig
Slide 15: Financial Highlights – Financial Debt and Balance Sheet
Q4 2024 Financial Highlights – Financial Debt and Balance Sheet Considering Maha Energy Group CAPEX Brava Share Price Performance (Q4 2024) TUSD USD 20% 17.5% USD 10% (0%) (10%) 3,018 2,600 (20%) 1-Oct 31-Oct 30-Nov 30-Dec 428 611 Balance Sheet Highlights (TUSD) 75 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4
Slide 16: Financial Highlights – Cash Flow Overview
Q4 2024 Financial Highlights – Cash Flow Overview Considering Maha Energy Group CASH + LIQUID INVESTMENTS² BUILD-UP (TUSD) ▪ Brent earn-out from MUSD 88.2 MUSD 97.6 PetroReconcavo as MUSD 102.2 Net Cash + Net Cash + average Brent DTD Net Cash + Liquid Invest.² Liquid Invest.² was >80 in 2024 Liquid
Slide 17: Closing Remarks
Q4 2024 Closing Remarks Enhanced Capital Structure Looking Forward ✓ Concluded technical discussions with PDVSA, business plan for PetroUrdaneta to be agreed on 1Q 2025; ✓ MUSD 97.6 in Net Cash¹ + Liquid Investments²; ✓ Start contract negotiations with PDVSA during ✓ MUSD 4.4 earnout to be paid duri
Slide 18: Disclaimer
Disclaimer Future Oriented Financial Information and Notes to the Presentation This information has been made public in accordance with the Securities Market Act (SFS 2007:528) and/or the Financial Instruments Trading Act (SFS 1991:980). Forward-looking statements made and information contained here
Slide 19: maha-energy.com
maha-energy.com Rio de Janeiro Office Stockholm Office 1165 Ataulfo de Eriksbergsgatan 10 Paiva| Room 501 SE-114 30 |Leblon | Rio de Stockholm / Janeiro, RJ | Brazil SWEDEN