NewMed Energy

Investor Presentation • Mar 19, 2024

4Q & FY 2023 Financial Results Presentation

March 2024 - 3 - 1 -

Disclaimer

This presentation was prepared by NewMed Energy (the "Partnership") and is given to you only for the provision of or the sake of convenience and may not be copied or diser person. The Data and information included in this presentation should not be interpreted as advice and should not be relief on for any participle the copied or used except as express w permitted in writing.

This presentation does not purport to be comain any and allinformation which might be relevant in comestion with the making of a decision on an investment in securities of the Partnership.

No explicit or implicit representation or uny person regarding the accuracy or interny of any information included in this presentation in particular, no representation or undertaking is given reasonableness of any forecasts regarding the future chances of the Partnership.

To obtain a full picture of the Partnership and the risks entailed thereby, see the full immediate and periodic reports the dry the Partnership with the Israel Securities Authority and the Tel. Anchuding warnings regarding forward-looking information, as defined in the Securities Law, 572-1968, included therein. The forward-oking internation may not materialize, in whole or in part, or may materialize differently than expected, or may oe affected by factors that cannot be assessed in advance.

For the avoidance of doubt, it is clarifed that the end of the information included in the presentation to rellect events and/or circumstances occurring after the date of preparation of the presentation.

This presentation is not an offer or invitation of securities. This presentation and anything contained herein are not a basis for any contract or undertaking and are not to be relied upon in such on ovided in the presentation is not a basis for the making of any mestment decision, no a recommendation or an opinion, nor a substitute for the discretion of a potentialinvestor.

Key Highlights

• □ 4th quarter average production c. 1,069MMcf/d (188 Mboe/d)
• D FY 2023 average production c. 1,073 MMcf/d (189 Mboe/d)
• 0 2024 Sales guidance 11.2 BCM (2P+2C)
• □ Leviathan Expansion FID for third subsea gathering line
• □ Condensate Sales Commencement of Piping of Condensate from the Leviathan to Ashdod Refinery
• □ Leviathan Bond Full redemption of \$500mm 2023 Leviathan Bond series
• □ Dividend \$60mm Dividend distribution for the quarter. \$210mm for FY 2023

Production Summary_

	Israel	Egypt	Jordan	Total
4Q / 2022 (BCM)	0.9	1.3	0.7	2.9
Average Price (\$/mmbtu)				6.2
4Q / 2023 (BCM)	0.7	1.57	0.6	2.4
Average Price (\$/mmbtu)				6.2

	Israel	Egypt	Jordan	Total
FY 2022 (BCM)	3.8	4.9	2.7	11.4
Average Price (\$/mmbtu)				6.2
FY 2023 (BCM)	2.0	6.3	2.7	11.0
Average Price (\$/mmbtu)				6.1

* Production Summary for Leviathan 100%

Key 4th Quarter Financial Metrics (\$mm) -

Key FY 2022 Financial Metrics (\$mm)

7

4th Quarter Change in Net Profit (\$mm) -

FY Change in Net Profit (\$mm)-

Balance Sheet
Summary (\$mm)

NNA

	31.12.2023	31.12.2022
Assets:
Current assets:
Cash and cash equivalents	29.1	22.4
Short-term investments and deposits	157.6	395.9
Trade receivables	194.5	199.0
Trade and other receivables	187.1	134.1
Current taxes receivable		19.9
	568.3	771.3
Non-current assets:
Investments in oil and gas assets	2,647.3	2,547.2
Investments in a company accounted for at equity	58.4	59.7
Long-term deposits	101.9	0.5
Other long-term assets	470.3	560.3
	3,277.9	3,167.7
	3,846.2	3,939.0
Liabilities and equity:
Current liabilities:
Current maturities for bonds		424.8
Loan from Banks	80.0
Declared profits for distribution		50.0
Tax Payable	27.7	96.9
Trade and other payables	101.1	9.9
Other short-term liabilities	2.2	و و
	211.0	581.6
Non-current liabilities:
Bonds	1,735.1	1,731.0
Deferred taxes	313.9	269.8
Other long-term liabilities	73.7	69.2
	2,122.7	2,070.0
Equity:
Partners' equity	154.8	154.8
Capital reserves	(28.6)	(29.9)
Retained earnings	1,386.3	1,162.5
	1,512.5	1,287.4
	3,846.2	3,939.0

Financial Debt (\$'000)

P&L Summary (\$mm)-

31.12.2023 31.12.2022 31.12.2021 Revenues From natural gas and condensate sales 1,094.4 1,143.9 882.5 Net of royalties 159.8 172.0 128.7 934.6 Revenues, net 971.9 753.8 Expenses and costs: 118.4 Cost of production of natural gas and condensate 148.6 134.1 79.2 113.1 Depreciation, depletion and amortization expenses 131.0 5.3 5.2 4.2 Other direct expenses 19.7 17.3 G&A 20.8 253.9 290.0 253.0 Total expenses and costs (1.3) (3.1) The Partnership's share in the losses of a company accounted for at equity (4.5) 496.3 Operating profit 679.4 678.8 (155.3) Financial expenses (133.8) (211.3) 31.4 Financial income 71.1 28.7 Financial expenses, net (105.1) (84.2) (179.9) 316.4 Profit before income taxes 594.6 574.3 (116.0) (207.8) Taxes on income (142.8) Profit from continuing operations 431.5 478.6 108.6 Profit (loss) from discontinued operations 21 (13.2) 151.7 144.6 Profit from the sale of natural gas and oil assets 4.3 2.1 Total profit (loss) from discontinued operations (8.9) 296.3 Net income 433.6 469.7 404.9	For the year ended on

Dividend

ロ The partnership has declared a \$60mm profit distribution to unitholders

Dividend Distributions * (\$'mm)

NN. Thank You NewMed Energy- IR Tel. +972 9 971 2421

IR@newmedenergy.com

Appendix

Leviathan Bond Sponsor Financial Data Report

PERIOD ENDED	31.12.2023
ITEM	QUANTITY/ACTUAL
	AMOUNT (IN USD\$ ,000)
Total Offtake (BCM)	11.0
Leviathan Revenues (100%)	2,414,063
Loss Proceeds, if any, paid to Revenue Account
Sponsor Deposits, if any, into Revenue Account	110,300
Gross Revenues (before Royalties)	1,106,583
Overriding Royalties
Statutory Royalties	122,291
(b) Third Party Royalties	48,504
Net Revenues	935,788
Costs and Expenses:
Fees Under the Financing Documents (Interest Income)	11,494
Taxes	(40,779)
Operation and Maintenance Expenses	(139,132)
Capital Expenditures	(107,069)
Insurance (income)	(22,178)
Total Costs and Expenses (sum of Items H(a), (c), (d) and (e))	(297,664)
Total Cash Flows Available for Debt Service (Item G minus Item H)	638,124
Total Cash Flow from operation (Item G minus Items H(c) and H(e)	774,478
Total Debt Service	(624,581)
Total Distribution to the Sponsor	(225,000)