Newmed Energy Limited Partnership · TASE:NWMD
Newmed Energy Limited Partnership — NewMed Energy — J.P. Morgan Emerging Markets Conference 2025
26 slides from Newmed Energy Limited Partnership's conference presentation, Sep 18, 2025
Slide 1: NewMed Energy
NEWMEDENERGY Sep 2025
Slide 2: Transforming the Levant Basin into a Natural Gas Hub
Eastern.Med.E&P.Operation.. Transforming the Levant Basin into a Natural Gas Hub Tel-Aviv (TA-35) listed Senior partner in all LP with a market cap 4 major gas discoveries off- of c. $5.5 Billion shore Israel and Cyprus World class E&P TWA. portfolio of assets, from exploration through development a
Slide 3: Significant Track Record in the East Med
Significant Track Record in the East Med “boeraton leds swore nak Discovered scovered Discovered une 2 Discovered Yam Yam Tettys | | Discovered Tamar Leviathan verre amar SW (LTC) £ Kars | golgkarish and Levathon First gas Tamar Sale to |_| New strategic plan |_| noysour lock awarded “Tethys ‘commen
Slide 4: Energy Game Changer
Energy Game Changer = Ownership NewMed Energy 45.3%, Ratio 15%, Chevron Corp. (operator) 39.7% = 2P+2C Resources 20.5 tcf/ 580.3 bcm, 45 mmbbl condensate = Produced from start up 1.8 tcf/ 51.5 bem, 4.1 mmbbl condensate « First Gas Dec 2019 = Current Production Capacity DSM - 1.2 bef/d (-12 bem/y), i
Slide 5: Strategically located in the East Med
N\A Strategically located in the East Med Israel is a net exporter of gas, taking a big step towards full energy independence Leviathan is key for the success of Israel's energy transition program from coal to gas * Increased demand coupled with declining production. A growing gas deficit for the fo
Slide 6: Leviathan Contracts and Sales Breakdown
Leviathan Phase 1 — Contracts and Sales Breakdown Long term contractual structure with Take or Pay mechanism and limited commodity price risk > 2 Sa, ~ ~ z 5 Ss @ IPP & Electricity Re lated : _ = Egypt- Blue Ocear Contracted sales 3 bem/y-with a Take or : Currently - 4.7 bem/y + volume of ~ 2 bem/y
Slide 7: Export Agreement Volume Increase
Ai generated photo Q Total contract quantity under the Export Agreement shall be increased by a total volume of 130 BCM : First Increment : 20 BCM - the daily gas quantity will increased from 450 MMSCF per day (~4.7 BCM per annum) to 650 MMSCF (-6.7 BCM per annum), from the date on which INGL comple
Slide 8: Leviathan Capacity and Egypt Sales
‘== Leviathan Capacity mi Egypt BOE ACQ Egypt BOE past sales 3° Gathering Line Leviathan Phase 1B Leviathan Existing Capacity @ 125M 12.5 x 12.0 12.0 [I 12.0 12.0 15 15 ai so dg 49 3h 65 fe 65 65 p> i a 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 20
Slide 9: Regional Connectivity
NY Regional Connectivity A \ (@) INGL Ashdod-Ashkelon, EMG pipeline Debottleneck using Full capacity-of EMG — 800mmce/d — 1H 2026 (@) FAJR + compression — Additional 400 mmcf/d — 2H 2026 (3) Nitzana pipeline project — 600 mmef/d — 2029 Leviathan INGL Ashdod-Ashkelon pipeline EMG Debottleneck FAIR+ c
Slide 10: Leviathan Phase 1A 2P Expected Cash Flow
10 NewMed's Leviathan Phase-ia 2P Expected CF Leviathan (45.34%, $'mm) 2,000 1,500 1,000 50 arr rrererepeyeryerey (500) (1,000) 2025 2026 2027 2028 2029 2030 2081 2032 2033 2034 2035 mmm Working Interest Revenue mm Royallty to be paid mmm Operating Expenses mmm Capital Cost mm Levy mmm income Tax ==
Slide 11: Israel Domestic Market Demand
NA Israel Domestic Market Demand Q Agreement with Eshkol Power Energies, to supply the Buyer, on a firm basis, with daily gas quantities in an aggregate annual volume of approx. 0.5 BCM, in addition to additional quantities on an interruptible basis. Total estimated of Approx. $650mm. Q Additional g
Slide 12: Jordan Electricity Capacity Generation
NAA Jordan Electricity Capacity Generation wm mTraditional m Renewable 5000 4000 3000 2000 1000 ie) 2018 2019 2020 2021 2022 2023 Source : NEPCO FY 2023 report 12
Slide 13: Egypt Gas Supply-Demand Dynamics
N 100 Source : Wood: Mackenzie Egypt Gas Supply-Demand Dynamics Agrowing deficit amounting to 40-50 bcm/y of natural gas.in. the Egvotian gas market by the end of the decade t 20 BCM/y Y 2020 2021 2022 2028 2024 2025 Domestic Gas Production 2026 2027 2028 2029 2030 2031 2032 2033 —— Demand Outlook D
Slide 14: Leviathan Modular Expansion
Leviathan Phase 2 — Modular Expansion Capacity of 1.2 bef/d_(approx. 12 bem/y) Capacity of 1.4 bef/d_(approx. 14 bem/y) Capacity of 2.1 bcf/d (approx. 21 bem/y) 14
Slide 15: Leviathan Expansion Kicked off
NAA, Leviathan Expansion Kicked off Q_ The Ministry of Energy has given a preliminary green light to expand the export of natural gas, while also increasing the supply to the domestic market. The export volume may be increased by an additional 118 BCM, which may increase to up to 145 BCM Qs~Phase 1B
Slide 16: Feb-20 Mar-20 May-20
100. 110. 120. 130. 0. 10. 20. 30. 40. 50. 60. 70. 80. 90. Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov
Slide 17: Leviathan Gas Field — Actual Performance
7 NA Leviathan Gas Field — Actual Performance Leviathan 45.34% WI - Strong operating and financial results Net Production (BCM) Average Realised Price ($/mcf) 5.2 49 5.0 54 62 61 61 7 2021 2022 2023 2024 2021 2022 2023 2024 Revenue ($mm) Net EBITDA ($mm) cs) ‘Avg, opex ($/mef) 1146 109% 1140 C4076 >
Slide 18: Leviathan Financing
N Leviathan.Financing $2.5B Leviathan Bond structure Current outstanding debt of $1.15B Full payment of series- 23, 25 amounts to $1.1B without refinancing Issuance Details : Issuer / Sponsor Format Ranking Rating Issue size Amount per tranche Tenor Maturity date Coupon Listing Use of proceeds Levia
Slide 19: Net Debt of $1,127mm
1,527 Net Debt of $1,127mm 1,241 Q Leviathan Bond June-25 series of 1,127 $600mm redeemed. Q $389mm cash and equivalents on Balance Q. Prudent financial managementt ahead of a new investment cycle 23-Dec 24-Dec 25-Jun Net Debt calculated as financial liabilities minus financial assets as of 30.06.25
Slide 20: $60mm Dividend for the quarter
Q $60mm Dividend for the quarter Q Committed to delivering share-holders returns through dividend distributions. Dividend Distributions 100 6 65 60 60 60 60 60 60 10 20 30 «40 10 20 «630 4Q 10 20 30 «40 10 20 30 «40 10 20 2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023 2023 2024 2024 2024 202
Slide 21: Cyprus - Aphrodite Project
NAA Cyprus - Aphrodite Project Ownership NewMed Energy 30%, Shell 35%, Chevron Corp. (operator) 35% 2C Resources 3.53 tcf (100 bem), 7.9 mmbbl condensate Location 168 km south of Limassol, 1,700m water depth Expected Production Capacity 800 mmcf/d Target Markets Egypt Domestic + Export facilities St
Slide 22: Bulgaria - Black Sea Exploration Campaign
22 Bulgaria —-Black Sea Exploration Campaign A rig contract was signed for the drilling of two offshore exploration wells offshore Bulgaria in the Han-Asparuh concession Vinekh-1 expected spud in 4Q-2025 Krum-1 to be drilled immediately after Al 43 1.99 D 32 3.9 A3 28 0.57 C/L 22 19 Bi 24 0.78 C/U 1
Slide 23: ESG - Activities & Targets
NAA. ESG - Activities & Targets Unlock value for investors, including through profits’ distribution Boost state revenue and energy independence, while supporting complete phase-out of coal for power generation in Israel Achieve net-zero emissions, primarily through offsets derived from renewable ene
Slide 24: Near & Medium-Term Milestones
24 Near & Medium-Term Milestones Leviathan Phase 1A De-bottlenecking and enhancing capacity New Energy Aphrodite New Business Exploration Development /pevelopment Activities
Slide 25: Disclaimer
NA Disclaimer This presentation was prepared by NewMed Energy Limited Partnership (the “Partnership’) andis given to you only for the provision of concise information for the sake of convenience and may not be copied or distributed to any other person. The Data and information included in this prese
Slide 26: NewMed Energy IR
-Newivlet Eneray- IR Tel. +9729 9712421 IR@newmedenergy.com 26
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