Company Presentation
October 2022
Eneva at-a-Glance
An Integrated energy company delivering diversified solutions to Brazil
1
RR
2 3 3 7
1 Azulão Complex | 2 Parnaíba Complex | ||
(NaturalGas,CondensateandOil) | (NaturalGas) | ||
Power Generation | Power Generation | ||
141MW | 950MW | 1.4GW | 0.5GW |
Operating | InstalledCapacity | Operating | InstalledCapacity |
Installed Capacity | tobeConstructed | Installed Capacity | UnderConstruction |
AMAZONAS
AMMA
CE
E&P | |
14.8 bcm | 5.4 bcm |
GasReserves(2P) | Gascontingentresources |
E&P | |
29.5 bcm | 2.1 bcm |
GasReserves(2P) | Gascontingent |
SOLIMÕES | PARNAÍBA | 6 |
4
BA
5
MS
PARANÁ
Total Portfolio
5.3 GW | 5.9 GW |
Power Generation Capacity(1) | Pipeline(2) |
Notes: (1) Includes Parnaiba V and VI TPPs, Azulão I TPP and Futura 1 photovoltaic plant, currently under construction, 1.6GW TPP Sergipe I and 0.3GW TPP CGTF (Termofortaleza); (2) Considers Futura 2 and 3 solar plants, 3.2GW of Celse and 0.4GW of Termofortaleza.
4.7MMbbl | (2C) |
4.0MMbbl | |
Condensate | |
Condensatecontingentresources | |
reserves (2P) | |
(2C) | |
7.0 MM bbl
Oilcontingentresources(2C)
3 Itaqui-Pecém II
(Coal)
0.7GW Tobephased-outuntil OperatingInstalled Capacity 2040
4 Futura Solar | 5 Paraná |
Complex | Basin |
(Solar) | |
(OnshoreBasin) | |
0.7GW | |
Installed Capacity | 11,544 km² |
UnderConstruction |
2.3GW Exploratoryconcessionarea Pipeline
Público
resources(2C) |
Gas Trading
600,000 m3/day
liquefaction capacity to be built in
the Complex
Long-term LNG supply contracts
secured
6 Celse | 7 CGTF |
(LNG)(Gas-Fired)
R$10bn | R$431mm |
TransactionEV | TransactionEV |
1.6GW | 327 MW |
Operating | |
Installed Capacity | |
Installed Capacity | |
3.2GW | 0.4GW |
Pipeline | Pipeline |
3
Eneva has a track record of growth and consistent over-delivery…
Where We Came From... | And How We Nailed It | ||||||||
(2017) | (2021) | ||||||||
Market Cap. | R$4.4bn | R$17.9bn | +309% | ||||||
December2017 | December2021 | ||||||||
Installed Capacity | 2.2GW | 3.7GW(1) | |||||||
+76% | |||||||||
Gas and Condensate | 18.8bcm | 44.3bcm(2) | |||||||
+136% | |||||||||
Reserves (2P) | 4.7 MM bbl Liquids | ||||||||
Gas, Oil and Condensate | 7.5 bcm Gas | ||||||||
Resources (2C) | 11.9 MM bbl Liquids | ||||||||
Adj. EBITDA & Margin(3) | R$1.4bn(4) | R$2.2bn | |||||||
+52% | |||||||||
39.3% | 42.2% | ||||||||
Cost of Debt | IPCA + 9.0% | IPCA + 3.8% | |||||||
(518bps) | |||||||||
ROE | 1.5% | 17.3% | |||||||
+15.8 p.p. | |||||||||
Capex Invested | R$5.3bn | ||||||||
(2017-2021) | |||||||||
EPS | R$ 0.46 | R$ 0.92 | +100% | ||||||
ENEV3 - ADTV | R$ 3.7mm/day | R$ 82.0mm/day | +2,143% | ||||||
Notes: (1) Includes the Parnaiba V and VI TPPs, Azulão I TPP and Futura 1 photovoltaic plant, currently under construction.; (2) Gaffney Cline & Associates Resports as of 12/31/2021 to Parnaíba basin and Reports as of
04/30/2022 to Amazonas basin; (3) Calculated in accordance with CVM Instruction 527/12 and its accompanying Explanatory Note. (4) Considers pro forma result with PECÉM II at 100%4
Público
Successful capital allocation over the past 5 years…
Unlevered Internal Rate of Return (IRR) of Projects
(in real terms)
Celse
Investment (5)
Complexo R$ 6.1 bi Azulão
(950MW)
LeveredIRR
25%
20%
2035b-NTNto | 15% | |||
Spread | 10% | |||
5% |
Parnaíba V | |||||||||||||||||||
Capex(1) | |||||||||||||||||||
R$ 1.5 bi | Parnaíba 6 | ||||||||||||||||||
Azulão | |||||||||||||||||||
Capex(1) | |||||||||||||||||||
Jaguatirica | R$ 0.6 bi | ||||||||||||||||||
Capex(1) | |||||||||||||||||||
R$ 2.2 bi | |||||||||||||||||||
Futura(3)
Capex(1,2)
R$ 2.9 bi |
LeveredIRR |
Capex(1)
R$ 5.8 bi
Termofortaleza(3)
Investment (6)
R$ 0.5 bi
Small Scale
LNG
Capex(1)
R$ 1.0 bi
0%
Dec-17
NTN-b 2035(4)
Dec-18 | Dec-19 | Aug-21 | Aug-22 |
Notes: (1) Estimated Capex; (2) Capex of Photovoltaic Plant Futura 1; (3) Includes Futura 1 and Trading; e (4) Brazilian Treasury Bond; (5) ) Acquisition value, levered Project; (6) Acquisition Value, unlevered Project | 5 |
Público
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