Navitas Petroleum Lp · TASE:NVPT
Navitas Petroleum Lp — Navitas Petroleum Limited Partnership — FY2025 Earnings Presentation
20 slides from Navitas Petroleum Lp's earnings presentation, March 2026
Slide 1: Investor Presentation March 2026
Investor Presentation March 2026
Slide 2: 2025 Growth & Achievements
2025 Growth & Achievements $214M $182M $886M Net income EBITDA Cash and Investments as of Q4-2025 Q4-2025 March 2026 $ 150M 1,127 MMBOE $8,165M Dividend declared Total reserves and NPV10 2P+2C resources
Slide 3: Value Generating Projects
Value Generating Projects Discounted Cash Flows Total Reserves and Resources Navitas’s share (NPV10) Navitas’s share (MMBOE) Project USD million Shenandoah (2P) 3,547 Sea Lion (2P+2C) 3,720 Sea Lion 819 Shenandoah 215 Buckskin (2P) 255 Monument 32 Total 1,127 Monument (2P) 303 Buckskin 28 Shenandoah
Slide 4: Onshore and Offshore Projects, GoA
Onshore Projects Denbury| Neches Offshore projects GoA Shenandoah| Buckskin| Monument| Shenandoah South
Slide 5: Shenandoah
Shenandoah $3,547M 215 MMBOE 49% NPV10 2P 2P Working interest $179M 60 MBOE/D $8 84% EBITDA Average daily production OPEX/BOE Cash margin Q4-2025 Q4-2025 Q4-2025 Q4-2025
Slide 6: Monument
Monument $303M 32 MMBOE 28.57% NPV10 2P 2P Working Interest $244M 12/26 8.2 MBOE/D Development budget Expected first oil Expected average daily production
Slide 7: Shenandoah HUB Work plan
Shenandoah HUB Work plan 2026 2027 2028 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Continued Increasing FPS daily Installing a subsea production and Fifth well Sixth well Shenandoah capacity to approx. drilling pump to boost drilling optimization of 140 MBOD production volume wells Drilling 2 development w
Slide 8: Buckskin
Buckskin $255M 28 MMBOE 7.5% NPV10 2P 2P+2C Working interest $7M 2.6 MBOE/D $19 EBITDA Average daily production OPEX/BOE Q4-2025 Q4-2025 Q4-2025
Slide 9: Falkland Islands Offshore Projects
Falkland Islands Offshore Projects PL001 | Sea Lion
Slide 10: Sea Lion
Sea Lion $3,720M 819 MMBOE 65% $1,800M NPV10 2P+2C 2P+2C Working interest Phase A development budget 100% 03/28 35 MBOE/D NAVITAS Expected first oil Phase A expected average Operator daily production
Slide 11: Sea Lion Licenses Adjacent to PL001
Sea Lion Licenses Adjacent to PL001 PL001 1,403 15 65% Sea Lion Project Phase 1 MMBOE Prospective resources Out of 46 prospects Working interest 100% 1,125 SQM NAVITAS License area Operator
Slide 12: Financial Information
4 Financial Information PETROLEUM
Slide 13: Operating Results
Operating Results For the three-month period For the year ended December 31 ended December 31 2025 2024 2025 2024 USD thousand Revenues from oil and gas sales, net of royalties 365,203 78,039 231,720 19,074 Operating income 163,480 16,575 118,403 4,580 EBIDTA 261,773 36,250 181,941 10,398 Finance ex
Slide 14: Net Financial Debt
Net Financial Debt USD thousand 1 December 31, 2025 As of March 2026 Liabilities Liabilities Debentures (Series C) (105,963) Debentures (Series C) - Convertible Debentures (Series D) (35,686) Convertible Debentures (Series D) (24,145) Debentures (Series E) (156,740) Debentures (Series E) - Debenture
Slide 15: Financial Forecasts
Financial Forecasts Daily production rate EBITDA MBOE/D USD million 1,873 1,823 120 116 114 1,495 78 69 994 51 762 280 5 4 62 49 2023 2024 2025 2026 2027 2028 2029 2030 2023 2024 2025 2026 2027 2028 2029 2030 2025 Reports Prices 2029 Project 2026 2027 2028 onwards Sea Lion 62.99 64.79 73.63 73.63 Br
Slide 16: Gross Debt Balance Forecast
Gross Debt Balance Forecast USD million 2,280 2,304 2,181 1,541 797 286 2026 2027 2028 2029 2030 2031 2032 RBL Total debentures Project financing (Sea Lion) Project financing (Monument)
Slide 17: Hedges
Hedges April to December 2027 2028 January to June 2026 2029 0.50 6.2 5.26 2.37 3.80 1.28 MMBO 2.88 MMBO MMBO MMBO 3.30 Strike price Strike price Strike price Strike price Avg put USD 63.0 Avg put USD 59.3 Avg swap USD 60.4 Avg Swap USD 60.8 Avg ZCC floor USD 55.0 Avg ZCC floor USD 55.0 Avg ZCC ceil
Slide 18: Waiver
Waiver This presentation was prepared by Navitas Petroleum Limited Partnership (hereinafter - “Navitas” or the “Partnership”). This presentation does not purport to be comprehensive or to include all information that may be relevant with respect to making an investment decision involving the Partner
Slide 19: Waiver
Waiver Following are forecasted Brent prices used in the NSAI reports regarding the Sea Lion oil asset; for further details regarding this report, see the Partnership’s immediate report dated March 2, 2026 (Ref. No.: 2026-01-018940). Price of oil - End of period USD/barrel December 31, 2026 62.99 De
Slide 20: Waiver
Waiver The production rate in 2025 refers to the production from Shenandoah from July 25, 2025 (the date of first oil from the project). The outstanding debt balance forecast takes into account the existing outstanding debt balance (principal only) plus expected withdrawals from project financing an
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