Genel Energy Plc · LSE:GENL
Genel Energy — Q4 2024 Earnings Presentation
10 slides from Genel Energy's earnings presentation, January 2025
Slide 1: January trading update
January trading update iy responsible, contributoe st” to.the global energy mix ; , ws
Slide 2: Building blocks in place to re-energise business
Building blocks in place to re-energise business Resilient, building towards establishment of a regular dividend STRONG & RESILIENT PLATFORM POTENTIAL KURDISTAN EXPORTS RESTART REALISE POTENTIAL OF ORGANIC RESOURCE ACQUIRE NEW ASSETS BALANCE SHEET Net cash $129 million Disciplined capital allocation
Slide 3: Company cash sources and uses Q4 2024
Company cash sources and uses Q4 2024 Tawke FCF more than covering spend Significant net cash $129 million Company FCF $3 million before interest Taq Taq divestment agreed, awaiting KRG approval Bond debt reduced by $75m at 102 call price 195 129 Since bond reduction, . . . Cash FCF Net Buyback Cash
Slide 4: Strong balance sheet
Strong balance sheet Significant cash and net cash position maintains resilience and optionality . 31 DECEMBER 2024 Cash $195 mill (§ million) $66 milli $182m reduction in debt since YE23 Net cash $129 million ~5S7 KRG net receivables 195 ” Nominal debt $107 million reported nominal overdue KRG rece
Slide 5: Robust production and consistent demand
Robust production and consistent demand TAWKE PSC HISTORICAL GROSS PRODUCTION 135, Significant and consistent production performance vor 109 3 B10 109 on Predictable and consistent reservoir performance = 16 despite minimal investment Regular lifting from a established pool of regular licenced buyer
Slide 6: Illustrative potential impact of exports on Asset FCF
Illustrative potential impact of exports on Asset FCF 80% of increased capex funded by incremental revenue Asset Adjust Illustrative PSC terms Pro forma Potential FCF Profit oil gross capex increase Export receivables (profit oil) for ramp-up revenue by FCF receipts 2x price ~80% of capex increase
Slide 7: Strategic objective to diversify production
Strategic objective to diversify production Build business that supports the establishment of a regular dividend programme ae — + Multiple jurisdiction a = Multiple asset E-; Cash generative, resilient production i or close to production Upside potential @ Genel Energy
Slide 8: Organic Growth Potential - Africa Exploration
Organic Growth Potential - Africa Exploration Opportunities for material resource addition through the drill bit Drill ready prospects, petroleum system proven by SM-1 well (2014) 2.6 Bbo mean recoverable resource potential, individual prospects 100-700 mmbbls each Low cost Banasa Prospect high grad
Slide 9: Forward focus
Forward focus 7” BUILD A BUSINESS WITH RESILIENT DIVERSIFIED CASH FLOWS | P THAT DELIVERS CONSISTENT VALUE TO SHAREHOLDERS AND A REGULAR DIVIDEND Optimisation of Resumption of Investment in new assets to achieve cash generation exports value accretive diversification of Tawke production Delivery on
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