Harbour Energy Plc · LSE:HBR

Harbour Energy — Non-Deal Roadshow (March 2021)

15 slides from Harbour Energy's roadshow presentation, Mar 4, 2021

  1. Slide 1: Creating a resilient UK independent oil and gas company of scale with a global footprint

    2020 Creating a resilient UK independent oil and gas company of scale with a global footprint March 2021

  2. Slide 2: Chrysaor & Premier Merger: Milestones to Completion

    Chrysaor & Premier Merger: Milestones to Completion Timing Milestone 6 Oct 2020 Transaction announcement 3 Nov 2020 Creditor support announced 23 Nov 2020 RBL syndication completed 30 Nov 2020 Norway (MPE) regulatory approval received 3 Dec 2020 European Commission merger control clearance received

  3. Slide 3: The evolution of Harbour Energy plc

    The evolution of Harbour Energy plc Asset base underpinned by Shell & ConocoPhillips North Sea asset acquisitions and merger with Premier Oil July 2014 November 2017 September 2019 Ongoing 2021 Shell UK ConocoPhillips North Sea UK North Sea Harbour Energy Founded Chrysaor’s Shell Acquisition ConocoP

  4. Slide 4: FTSE Inclusion and Investability Weighting

    FTSE Inclusion and Investability Weighting1  Harbour is expected to meet all FTSE Pro forma ownership structure inclusion criteria upon readmission in April Chrysaor legacy investors / PMO s/holders  Enlarged issued share capital expected to other 5% enter FTSE All Share in June with >23% 7% PMO c

  5. Slide 5: Highly experienced leadership team and Board

    Highly experienced leadership team and Board Linda Cook Phil Kirk Alexander Krane CEO, President & CEO of Europe, CFO, Executive Director Executive Director Executive Director  Currently Managing Director and Executive  Currently CEO of Chrysaor, which he  Currently Investment Director at Aker AS

  6. Slide 6: Harbour Energy: a new, unique investment opportunity

    Harbour Energy: a new, unique investment opportunity  Combined production of 235 kboepd for first 11 months of 2020  Significant international growth opportunities UK’s largest-listed 1 independent O&G company  Upper quartile of FTSE250  Competitive within peer group of large, international, ind

  7. Slide 7: UK: a business of scale generating material cash flows

    UK: a business of scale generating material cash flows  Diversified, tax-efficient asset base 607 mmboe 436 mmboe  Balance of oil vs gas UK 2P reserves1 UK 2C resource1  Low, stable operating costs  Significant interest in major UK long life, hub assets  High degree of operating control  High

  8. Slide 8: Shell asset acquisition: a track record in creating value

    Shell asset acquisition: a track record in creating value Key transaction metrics1 Reserve diversification1 CPR 2P Reserve replacement - 90% mmboe mmboe  Effective date: 1 July 2016 Schie- hallion J-Area  Acquisition price: $3.0 bn  CPR1 2P reserves: 305 mmboe Beryl 169 153 – Oil / gas split: 58%

  9. Slide 9: Path to Net Zero by 2035

    Path to Net Zero by 2035 1 Low Carbon by design  Measure, manage and minimise emissions  Improve plant operational efficiency and minimise all venting and flaring  Electrification of platforms and connection to renewable sources where possible  Brown field modifications, best available technolog

  10. Slide 10: A platform for future growth

    A platform for future growth  Ability to pursue a fully funded growth strategy 1.7 bn boe1  Broad set of organic growth options Combined Group 2P & 2C  A growing international M&A opportunity set  Diversity provides increased growth options UK Norway  Ability to high-grade opportunities drives

  11. Slide 11: Strong financial position

    Strong financial position  Simplified capital structure and strong Leverage – peer benchmarking2 Net Debt (ex. LCs) / EBITDA balance sheet 3  Expected proforma net debt on completion of $3.2bn; no near-term debt maturities – 7 year RBL (2 year repayment grace 2 period) – Shell Junior debt: First p

  12. Slide 12: Capital allocation priorities

    Capital allocation priorities 1 Balance sheet strength  Targeting conservative leverage profile through the cycle  Potential for an investment grade credit rating 2 Ensuring a robust and diverse portfolio of production, reserves and resource  Invest in the UK to maintain production and cash flow

  13. Slide 13: Entering a New Peer Group

    Creating a new, independent O&G Company Entering a New Peer Group UK-listed International O&G1 Proforma2 Norwegian Peers1 North American Peers1 500 500 2020 1H Production 400 400 (kboepd) 300 300 200 200 100 100 0 0 Energean Tullow Cairn Diversified Combined Lundin Aker BP Apache Hess Marathon Murph

  14. Slide 14: Harbour Energy plc investment highlights

    Harbour Energy plc investment highlights A UK-listed O&G company joining the US & European peer group of super independents UK’s largest independent oil & gas producer with material operated position Diversified and low-cost asset base with an attractive global footprint Strong balance sheet with st

  15. Slide 15: March 2021

    March 2021 www.premier-oil.com Premier Oil Plc 23 Lower Belgrave Street London SW1W 0NR T: +44 (0)20 7730 1111 E: premier@premier-oil.com

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