Chariot Limited · LSE:CHAR
Chariot — Investor Presentation (May 2022)
25 slides from Chariot's investor presentation, May 27, 2022
Slide 1: Africa Focussed Transitional Energy Group on the Doorstep of Europe
AFRICA FOCUSSED TRANSITIONAL ENERGY GROUP ON THE DOORSTEP OF EUROPE
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: Africa Focused Transitional Energy Group on the Doorstep of Europe
Africa Focused Transitional Energy Group on the Doorstep of Europe Significant Moroccan offshore gas development with the Develop, finance, build, and operate renewable energy projects potential to positively impact a growing economy, heavily selling lower cost, sustainable and reliable power to min
Slide 4: Transitional Gas: Anchois Development + Access to European Gas Market
Transitional Gas: Anchois Development + Access to European Gas Market • Morocco is a premium 1 Power SPAIN investment location with 2 Industry Pipelines world-class fiscal terms 3 Spain 3 Planned Pipelines Anchor Gas Offtake Chariot 3D Seismic key gas sales terms • Growing power and 2 Tangier Existi
Slide 5: Gas Drilling Campaign - Exploration & Appraisal Success
Gas Drilling Campaign - Exploration & Appraisal Success Drilling campaign completed safely, on time and on budget Efficient Operation – Time vs Depth Chart 0 5 10 15 20 25 30 Days 35 40 45 50 55 60 65 Anchois-2 appraisal & Wells suspended as 0 exploration well drilled in potential future producers 3
Slide 6: Route to FID – Fast-tracking to Cashflow
Route to FID – Fast-tracking to Cashflow SUBSEA-TO-SHORE DEVELOPMENT Investment bank Progressing anchor gas appointed to lead debt sales under MoU for 40 financing mmscf/d - take or pay Building an international up to 20 years & Moroccan syndicate Opportunity to sell to provide project surplus into
Slide 7: Low Risk Upsides in a Seismic-Supported Gas Plays
Low Risk Upsides in a Seismic-Supported Gas Plays ANCHOIS DEVELOPMENT HUB RISSANA Previously “prospective” OFFSHORE C & M sands – gas ~8,490km² discovery in Anchois-2 Anchois North LIXUS 6 OFFSHORE Anchois West Plie 4 9 ~1,794km² 3 5 8 2 7 1 Anchois Field 37 km 12” pipeline CPF Lixus Portfolio: Best
Slide 8: Transitional Power: Clean Energy, Leverage & Returns
Transitional Power: Clean Energy, Leverage & Returns Future Pipeline Example: 50 MW Solar Project** 51% 70% 30% Debt Equity Develop, finance, build, and operate 49%*** renewable energy projects selling lower cost, sustainable and reliable power to mining • c.US$50 M Capex operations in Africa • Take
Slide 9: Renewable Power Projects to Mines – Operational and In Development
Renewable Power Projects to Mines – Operational and In Development Essakane Solar – Burkina Faso – Operational Chariot holds equity of 10% in project 15 MW solar generation 130,000 PV panels Commenced operations 2018 Gold Mine Tharisa – South Africa – In Development Intention to take 49% equity in p
Slide 10: Growth of the Hydrogen Economy
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 is made through elec
Slide 11: Mauritania & Green Hydrogen – Location, Location, Location
Mauritania & Green Hydrogen – 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 ✓ PFS complete, confirms scale and potential – Nour could become one of largest
Slide 12: Timeline & Value Triggers
Timeline & Value Triggers Lixus/Rissana Low Risk Gas Upside Strategic Partnering RISSANA GAS SALES FIRST RESERVES FID FID LICENCE AGREEMENTS GAS REPORT PRODUCTION AWARDED CONCESSION AWARDED ANCHOIS DRILLING GAS NEW FEED VENTURE DEBT CONSTRUCTION CAMPAIGN FINANCE v v v v v v v v v v v v v v v v 2024
Slide 13: 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 14: Appendices
APPENDICES
Slide 15: 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 16: 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 17: Non Executive Directors
Non Executive Directors George Canjar Chris Zeal Andrew Hockey Non-executive Chairman Non-executive Director Non-executive Director • Over 40 years with Shell, • Over 30 years’ experience • Over 35 years’ experience in Carrizo, Davis Petroleum and across a wide range of sectors the oil & gas industr
Slide 18: Why Africa?
Why Africa? 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 Asia AFRICA? Africa ”Africa to propel world’s population towards 10bn by 2050” Source: FT
Slide 19: Lixus Offshore – Exploration Upsides in a Seismic-Supported Gas Play
Lixus Offshore – Exploration Upsides in a Seismic-Supported Gas Play ANCHOIS Pay Lithology Flag X SAND Z SAND A A Gas pay in the Anchois-1 A A SAND Anchois-1 and Anchois-2 (approx. Y SAND Anchois-2 150m net gas pay) wells B B SAND B B align with bright B C SAND (upper) amplitudes on seismic M SAND B
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: Pre-drill Independent Resource Assessment
Lixus Offshore: Pre-drill Independent Resource Assessment Pre-Drill Contingent Gas resources* (Bcf) Probability of Pre-Drill 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
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: 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 2020 % 2015 - €195 million capital increase
Slide 24: Synergies & Scalability
Synergies & Scalability c$1.5B 1 GW Pre-Drill 2C Net Cash Target project post-tax* pipeline 2022 c$900m 15 MW Pre-Drill 2C Essakane Net NPV10* (Gross) Chariot Portfolio Material upside Chariot Historic Sub-Saharan total beyond Anchois Interest electricity supply, development Executives Solar share E
Slide 25: Corporate Snapshot
Corporate Snapshot Key Shareholders Market Statistics Shareholders* % Total Board & Senior Management 10.8 Listing AIM, London Including Westward Investments Limited (A 10.3 Ticker Symbol CHAR Pouroulis - Director & Founder) YF Finance 3.1 Issued Shares (at 27 May 2022) 827,071,815 Share Price (at 2