NewMed Energy

Quarterly Report • May 23, 2022

1Q Financial Results Presentation May 2022

Disclaimer

This presentation was prepared by Newled Partnership (the "Partnership") and is givento you only for the provision of che sake of convenience and may not be copied on any other person. The Data and information included in the interpreted as advice and should not be relief on for any purpose. Such and hot be copied or used except as expressly permitted in writing.

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

No explicit or implicit representation is quer by any person regarding the accuracy or 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 entalled thereby, see the full immediate and periodic reports flective in the Israe Securities Authority and the Tel Aviv Stock Exchange Ltd, including information, as defined in the Securities Law, 572-1988, included therein. The forward-looking inthe presentation may not mart, or may materializedifferently than expected, or may be affected by factors that cannot be assessed in advance.

For the aroidance of doubt, it s cartiership do noturdertake to update and/or modify 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 underlaking and are not to be relied upon in such on or vided in the presentation is not a basis for the making of any investment decision, no a recommendation or an opinion, nor a substitute for the discretion of a potential investor.

Key Highlights

• Record Sales in quarter average production in quarter c. 1,100,000 MMbtu/d
• 0 Record daily production output- 1,274,000 MMbtu/d (12/03/2022)
• D Record export from Leviathan 1.83 BCM (c. 65,800,000 MMbtu)
• □ Leviathan 8 drilling operations 5th producing well in Leviathan
• മ First export through FAJR to Egyptian market Meanwhile Ongoing work at INGL for the increased capacity to Ashkelon
• □ Aphrodite updating and optimizing the development plan and preparing to drill the A-3 well.
• Dividend & Buy Back 0

Key First Quarter Financial Metrics (smm)-

4

■ Including22% WI in Tamar

■ 1Q 22 excluding Tamar WI

Change in Net Profit (smm)

Production Summary_

BCM	lsrael	Egypt	Jordan	Total
1Q / 2022	0.9	1.1	0.7	2.7
Average Price (\$/mmbtu)				5.57
1Q / 2021	1.2	0.8	0.7	27
Average Price (\$/mmbtu)				4.92

Regional Connectivity Update

Leviathan 8 & Aphrodite Development

Leviathan 8

• ロ Leviathan-8, the 5th production well in the field, was spud on April 4th
• ロ Drilling operations are progressing as scheduled on time and on budget and expected to end in a few weeks.

Aphrodite Development

• ロ development plan - integrate the development with existing facilities and / or development plans of adjacent properties.
• ロ The partners are also planning to carry out the A3 drilling well, in a way that will be used as a production well, as part of the reservoir's overall development plan.
• ロ Accordingly, the partners adopted a discission regarding engagement with a drillship for the purpose of carrying out the A3 well .

ESG Update_

• Implementing NewMed Alternative Energies Strategy: ロ
  • ロ neutral energy to meet long term commitments.
  • □ Advancing international cooperation on Alternative Energy activity
• D Promoting transparency and working inline with the GRI guidance:
  • ロ 2020-2021ESGreport-published 1st Israeli E&P LP to publish
  • മ Update Code of Ethics- published
• □ Adopting SDG's goals building inherent strategy.
• Working on a near term and long-term commitment strategy.
• □ Working on a near term and long-term detailed commitment roadmap.

NewMed's delegates at a hydrogen refueling station, "Green Planet", Pesse, NL.

P&L Summary (\$mm)-

Revenues 882,537 From natural gas and condensate sales 246,799 216,455 128,758 36,043 Net of royalties 32,164 210,756 184,291 753,779 Revenues, net Expenses and costs: 26,910 33,643 118,382 Cost of natural gas and condensate production 37,750 21,034 113,083 Depreciation, depletion and amortization expenses 995 766 4,206 Other direct expenses 3,128 3,022 17,183 G&A expenses 75,516 51,732 252,854 Total expenses and costs (1,138) (4,497) (1,215) The Partnership's share in the losses of a company accounted for at equity 131,344 496,428 Operating income 134,102 (38,327) (211,306) (51,073) Financial expenses Financial income 19,909 12,920 31,468 Financial expenses, net (18,418) (38,153) (179,838) Profit before taxes on income 115,684 93,191 316,590 (31,638) Taxes on income (207,837) 84,046 93,191 108,753 Income from continuing operations 151,736 21,548 Income from discontinued operations 144,583 Income from the sale of natural gas and oil assets Total income from discontinued operations 21,548 296,319 Net profit 84,046 114,739 405,072	01 222	01 21	2021

Dividend and Buy Back

• ロ The partnership's BOD has decided on a Levithan Bond Buy Back plan of up to \$100mm for the outstanding notes.
• ロ The partnership has declared a \$50mm profit distribution to unitholders

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

IR@newmedenergy.com

Appendix

PERIOD ENDED	31.3.2022
IIIEM	QUANTITY/ACTUAL
	AMOUNT (IN USD\$ ,000)
Total Offtake (BCM)	2.7
Leviathan Revenues (100%)	544,550
Loss Proceeds, if any, paid to Revenue Account
Sponsor Deposits, if any, into Revenue Account
Gross Revenues (before Royalties)	223,133
Overriding Royalties
(a) Statutory Royalties	(26,464)
(b) Third Party Royalties	(10,496)
Net Revenues	186,173
Costs and Expenses:
(a) Fees Under the Financing Documents (Interest Income)	24
(b) Taxes
(c) Operation and Maintenance Expenses	(30,715)
(d) Capital Expenditures	(30,805)
(e) Insurance (income)
Total Costs and Expenses (sum of Items H(a), (b), (c), (d) and (e))	(61,496)
Total Cash Flows Available for Debt Service (Item G minus Item H)	124,677
Total Cash Flow from operation (Item G minus Items H(c) and H(e)	155,458
Total Debt Service
Total Distribution to the Sponsor	100,000