Newmed Energy Limited Partnership · TASE:NWMD
Newmed Energy Limited Partnership — FY2022 Earnings Presentation
21 slides from Newmed Energy Limited Partnership's earnings presentation, Mar 28, 2023
Slide 1: Slide 1
Slide 2: Disclaimer
NA Disclaimer This presentation was prepared by NewMed Energy Limited Partnership (the “Partnership’) and is 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 pres
Slide 3: Key Highlight
Key Highlight Q Non-Biding Indicative Acquisition Offer — Offer to acquire 50% of NewMed's Unit for 12.05 NIS per Unit Q 4" quarter average production - c. 1,097.3 MMcf/d (203.1 Mboe/d), 2.85 BCM. Q Beating full 2022 guidance and expectation -FY 2022 actual sales of 114 BCM, average production of 1,
Slide 4: Key NBIO Terms
NW Key NBIO Terms Q A non-binding indicative offer from BP & ADNOC, a consortium of two international energy Super Major companies Q BP & ADNOC through a joint company offer to purchase all of NewMed issued unit held by the public (approx. 45%) and approx. 5% of the issued unit from Delek Group, suc
Slide 5: Offer Structure
NW Offer Structure Existing structure Final Structure c. 55! c. 45% Hold Co. 50% 50% ~
Slide 6: Slide 6
Slide 7: Production Summary
Production Summary Average Price ($/mmbtu) 62 Average Price ($/mmbtu) 52 Average Price ($/mmbtu) 62 Average Price ($/mmbtu) 51 * Production Summary for Leviathan 100%
Slide 8: 140. 8.00 120. 6.00 100. 80. 4.00 60. 40. 2.00 20. 0. 0.00
140. 8.00 120. 6.00 100. 80. 4.00 60. 40. 2.00 20. 0. 0.00
Slide 9: Mediterranean Sea
Mediterranean Sea a Connecting pipelifle to Jordan. ad Leviathan transmission syétem INGL Ashdod-Ashkelon pipeline EMG pipeline Nitzana Export Route Egypt Platform Arab gas pipeline, connecting LNG site Egypt & Jordan Existing pipeline Under construction and planned pipeline
Slide 10: Leviathan Expansion
NN Leviathan Expansion Q_ As part of the promotion of Phase 1B for the increase of the maximum production capacity to approx. 2.1 BCF/d, the Leviathan partners are promoting the acceleration of an investment in a third subsea gathering line from the wells to the platform. Q_ The Third gathering line
Slide 11: Key 4th Quarter Financial Metrics
n Key 4'" Quarter Financial Metrics ismm EBITDA Sales 2ht, 201 13 4019 4Q 20 4Q 21 Net Profit before income tax EBITDA calculated as Operating profit + Deprecation and Amortization 288 4Q 22 164 70 4019 40 20 Jrctuding 22% WI in Tamar 203 132 40 21 4Q 22 | excluding Tamar WI Net Profit 210 142 150 )
Slide 12: Sales, EBITDA and Net Profit
Sales 919 883, 453, 2019 2020 2021 Net Profit before income tax EBITDA calculated as Operating profit + Deprecation and Amortization para 2022 EBITDA 813 638 614 292 2019 2020 2021 2022 Jrctuding 22% WI in Tamar | excluding Tamar WI 2019 Net Profit 613 365 , | 2020 2021 595 2022 12
Slide 13: Net profit before tax Q4 2021 to Q4 2022
Net profit before tax 04.2021 4", Quarter Change.in Net Profitison, 17 7 37 -179 Discontinued operations. change in quantities, operating expense price per mmbtu Net Financeial Expense 29 a 150 Net profit before tax 04.2022 13
Slide 14: Net profit before tax FY 2021 to FY 2022
14 F 613 96 a 595 — -23 43 79 139 -309 Discontinued operations... change in quantities, operating expense Net profit before tax FY 2022 Net profit before tax FY 2021 price per mmbtu Net Financeial Expense Ofek write off
Slide 15: Balance Sheet
Balance Sheet Summary (mm ‘Assets: Current assets: Cash and cash equivalents Short-term investments and deposits Trade receivables Trade and other receivables Current taxes receivable Non-current assets: Investments in oil and gas assets Investments in a company accounted for at equity Long-term dep
Slide 16: Financial Debt
‘nancial Debt 000 3,500,000 3,000,000 2,500,000 2,000,000 1,500,000 1,000,000 500,000 0 30/09/2021 31/12/2021 30/09/2022 31/12/2022 mSeries A mTamar Bond mLeviathan Bond Cash, Cash equivalent and short-term investment as of 31/12/2022 - $418.3 mm 16
Slide 17: Income statement
Revenues From natural gas and condensate sales Net of royalties Revenues, net Expenses and costs: Cost of production of natural gas and condensate Depreciation, depletion and amortization expenses Other direct expenses GaA Total expenses and costs The Partnership's share in the losses of a company a
Slide 18: Dividend and Buy Back
Dividend. and Buy Back Q_ According to the published Buy Back plan, the partnership has purchased Levithan Bond notes in an amount of c. $109.5mm to date Q_ The partnership has declared a $60mm profit distribution to unitholders Dividend Distributions + (¢mm) 2019 2020 2021 2022 Dividend Distributio
Slide 19: NewMed Energy - IR
Med Energy- IR = Tel. 497299712421 —— = < IR@newmedenergy.com
Slide 20: Slide 20
Slide 21: Leviathan Bond Sponsor Financial Data Report
Leviathan Bond Sponsor FinancialDataReport Gas sales for 100% of the Leviathan partners on an accrual basis. * Including buyback of bonds by the sponsor of approximately 75 Million dollars. PERIOD ENDED TEM NTITY/ACTUAL AMOUNT (IN USD$ ,000) Total Offtake (BC) 1A Leviathan Revenues (100%) 2,524,741
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