Chariot Limited · LSE:CHAR
Chariot — Investor Presentation (October 2021)
28 slides from Chariot's investor presentation, October 2021
Slide 1: Building an African Transitional Energy Group
BUILDING AN AFRICAN TRANSITIONAL ENERGY GROUP OCTOBER 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: Presenters
Presenters Adonis Pouroulis Julian Maurice-Williams Duncan Wallace Chief Executive Officer Chief Financial Officer Technical Director • One of the founders of Chariot, has • Chartered Accountant with over 15 • Geologist with 20 years of experience worked in the sector for over 25 years years of expe
Slide 4: 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 driving To create value and deliver positive change through investment in projects that are driving the energy revolution the energy revolution Moroccan offshore ga
Slide 5: Milestones achieved since June 2021
Milestones achieved since June 2021 • Low-cost rig and key service contracts signed; drilling team • Completed acquisition and re-formed integrated new power team • Appraisal drilling on track for Accelerating • Partnership with Total Eren December 2021 Material • Large-scale green hydrogen • Anchor
Slide 6: Transitional Gas: Anchois Gas Development
Transitional Gas: Anchois Gas Development • Morocco is a premium SPAIN investment location with Pipelines Key Gas Sales world-class fiscal terms 1 Power 3 Planned Pipelines Terms Agreed Chariot 3D Seismic 2 Industry • Growing power and 3 Spain Rissana Offshore (key terms agreed) 2 Tangier Existing C
Slide 7: Transitional Gas: Appraisal Well – Unlocking the Development
Transitional Gas: Appraisal Well – Unlocking the Development Anchois-1 Potential PLIOCENE Discovery Appraisal Well A Sands Excellent Quality 2020 Well Location Reprocessed 3D B Sands MIOCENE Seismic Data Plie prospect A Sand 115 Bcf High Reservoir Porosity C, M & O & Permeability A&B Sand Appraisal
Slide 8: Transitional Gas: Anchois Gas Development
Transitional Gas: Anchois Gas Development SUBSEA-TO-SHORE DEVELOPMENT Gas Sales & Strategic Partnership +• Anchor gas sales key terms agreed of 40 mmscf/d - take or pay up to 20 years +• Agreed framework to establish long term aligned strategic partnership Unlocking the Onshore Central development P
Slide 9: Transitional 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 - + Gas new ventures under 2C+2U 3 Tcf * evaluation (0.5 billion boe) + Balance portfolio, including production • Gas pl
Slide 10: Transitional Power: A New Business Line Within Chariot
Transitional Power: A New Business Line Within Chariot Rational for the New Business SPA Signed in March 2021 for • Chariot’s vision is to play a leading role in Purchase Renewable of AEMP and Hybrid Developer for supporting the transition towards low-carbon Group – Renewable Mines in Africa Hybrid
Slide 11: Transitional Power: Scalability, Leverage on Chariot's Network
Transitional Power: Scalability, Leverage on Chariot’s Network SIZE OF PRIZE Looking to leverage Chariot’s network to Corporate, Industry and Mining in Africa increase pipeline of projects represent 20 GW of electrical demand Equivalent to c.50% of annual UK electricity consumption 70% Debt ESG PUSH
Slide 12: The Rise of a Hydrogen (H2) Economy
The Rise of a Hydrogen (H2) Economy Green H2 is made through electrolysis using renewable energy only • Hydrogen is a key component of the energy transition • Key to driving the hydrogen economy forward will be the transition towards fully carbon-free green H2 According to Goldman Sachs the global m
Slide 13: 'Project Nour' in Mauritania: Taking a Big Option on a Green H2 Future
‘Project Nour’ in Mauritania: Taking a Big Option on a Green H2 Future WHY MAURITANIA GREEN HYDROGEN PROJECT HIGH WIND POWER DENSITY + Exclusivity over 14,400 km² - Partnering Mauritania HIGH SOLAR PV POWER POTENTIAL process + MoU signed with and feasibility Government of studies underway Mauritania
Slide 14: Timeline & Value Triggers
Timeline & Value Triggers Lixus/Rissana Upside (3 TCF) ANCHOIS-2 Anchois 361Bcf APPRAISAL FID FIRST GAS Unlocked DRILLING FEED Debt Rig Finance Mobilisation Reserves Gas Sales CONSTRUCTION NEW Report Agreements Gas Sales & VENTURES Partnering MOU v v v v v v v v v v v v v 2021 2022 2024 Essakane Ope
Slide 15: 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 16: Appendices
CHARIOT #8 ° TRANSITIONAL ENERGY APPENDICES
Slide 17: Management Team
Management Team Julian Maurice-Williams Adonis Pouroulis Duncan Wallace Chief Financial Officer Chief Executive Officer Technical Director Benoit Garrivier Pierre Raillard Laurent Coche David Brecknock Transitional Power CEO Head of Gas & Morocco Business Development, Drilling Manager • 15 years of
Slide 18: 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 19: 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 20: 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) Material upside Sub-Saharan total beyond Anchois Chariot electricity supply, development Portfolio Solar share Chariot Historic Interest >3 Tcf Executive
Slide 21: Transitional 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 2021 % 2015 - €195m capital increase from a
Slide 22: Lixus Offshore Prospects & Leads – 2020 PSDM
Lixus Offshore Prospects & Leads – 2020 PSDM A B Nappe Nappe Mud/Salt Diapir Sub-Nappe Prospectivity Anchois Mini-Basin Pliocene & Miocene Anchois Satellite Prospects LIXUS 3D PSDM OFFSHORE coverage 5-10km from Anchois, with same reservoir and attributes Mio/Plio U/C B 2019 PSTM evaluation 600 Bcf*
Slide 23: Anchois Field – PSDM Interpretation, Resources & Appraisal
Anchois Field – PSDM Interpretation, Resources & Appraisal Anchois-1 Legacy PSTM Anchois-1 New PSDM Anchois Discovery – B Sand Increase in A & B resources Improved mapping of gas sands Identification of new targets A Sands A Sands Anchois-1 B Sands B Sands 3.2 to 4.8 km2 PSTM (2010) Maximum Minimum
Slide 24: 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 25: 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 26: 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 27: A Robust and Integrated Approach to Sustainability
A Robust and Integrated Approach to Sustainability We seek to deliver positive change for all our stakeholders Robust ESG governance is core to Chariot’s approach Chariot’s business model embeds a responsible approach to ESG management. Chariot’s management team have deep ESG expertise, which it app
Slide 28: Corporate Snapshot
Corporate Snapshot Market Statistics Listing AIM, London Ticker Symbol CHAR Issued Shares (at 26 October 2021) 636,723,079 Share Price (at 26 October 2021) 7.60p Market Capitalisation (at 26 October 2021) US$66.4m Total Director / Employee share awards (at 31 December 2020) 10,241,655 28