AI Terminal
NewMed Energy
Investor Presentation • Aug 7, 2025
7125_rns_2025-08-07_7d6cd300-1253-4c74-ac2e-9341f8b4f25a.pdf
Investor Presentation
Open in ViewerOpens in native device viewer
NEWMEDENERGY
Egypt BOE Gas Agreement & 2Q 2025 Financial Results Presentation
August 2025
Disclaimer
This presentation was prepared by NewMed Energy Limited Partnership") based on information included in the immediate and periodic reports filed by the Partnership with the Securities Authority and the Securities Law, 5728-1968.
The presentation is intended to present the Partness and provide general information regarding its main activities in a userfriendly and clear manner. By its nature, the presentation is concise and does not include all information and data published by the Partners hip under the Securities Law, 5728-1968.
To obtain a full picture of the Partnership and the risks entailed thereby, see the full immediate and periodic reports filed by the Partnership with the Israel Securities Authority and the Tel Aviv Stock Exchange Ltd, including the Partnership's Annual Report for 2024 as published by the Partnership on 10 March 2025 (Reference No: 2025-01-015633) (the "Annual Report"),
The presentation includes forward-looking intre Securities Law, 5728-1968. Such forward-looking information may not materialize, in whole or in part, or may materialized by factors that canot be affected by factors that cannot be assessed in advance.
Key Highlights
□ Aqreement with Egypt BOE for Additional Quantities of 130 BCM until 2040
- The agreement constitutes the cornerstone for the Leviathan 1B Expansion Plan
- Substantial growth in volumes to Egypt, in accordance with the developing infrastructure connectivity
- ص 2nd quarter gas sales c. 798 mmcf/d (140 mboe/d), 2.0 BCM
- 0 20d quarter earnings \$126mm EBITDA / \$81mm net profit
- □ Bulgaria Han-Asparuh Exploration
- മ Dividend \$60mm Dividend distribution for the quarter.
- □ Total contract quantity under the Export Agreement shall be increased by a total volume of 130 BCM :
- First Increment : 20 BCM the daily gas quantity will increased from 450 MMSCF per day (~4.7 BCM per annum) to 650 MMSCF (~6.7 BCM per annum), from the date on which INGL completes the Ashdod-Ashkelon offshore pipeline section and the sellers' complete construction of the Leviathan third qathering pipeline project
- Second Increment : 110 BCM the daily supply quantity shall be increased to 1,150-1,250 MMSCF per day (~11.9-12.9 BCM) per annum, subject to FID by the sellers regarding the Phase 1B Expansion Project
Egypt BOE Agreement : The Basis for Leviathan Expansion (всм)
Production Summary
| Israel | Egypt | Jordan | Total | |
|---|---|---|---|---|
| 20 / 2025 (BCM) | 0.2 | 1.3 | 0.5 | 2.0 |
| Average Price (\$/mmbtu) | 5.63 | |||
| 2Q / 2024 (BCM) | 0.4 | 1.8 | 0.6 | 2.8 |
| Average Price (\$/mmbtu) | 6.29 |
* Production Summary for Leviathan 100%
Price Environment
Key 2nd Quarter Financial Metrics (smm)
P&L Summary (\$mm)-
| For the period | 4-6/2025 | 4-6/2024 | 2024 |
|---|---|---|---|
| Revenues From natural gas and condensate sales | 191.7 | 295.3 | 1,136.3 |
| Net of royalties | 27.7 | 42.6 | 163.2 |
| Revenues, net | 164.0 | 252.7 | 973.1 |
| Expenses and costs: | |||
| Cost of production of natural gas and condensate | 29.0 | 43.0 | 168.4 |
| Depreciation, depletion and amortization expenses | 16.6 | 19.3 | 80.7 |
| Other direct expenses | 2.8 | 1.3 | 5.9 |
| G&A | 5.5 | 4.9 | 16.9 |
| Total expenses and costs | 53.9 | 68.5 | 271.9 |
| The Partnership's share in the losses / Profits of entities accounted for at equity | (0.8) | 1.4 | 2.9 |
| Operating profit | 109.3 | 185.6 | 704.1 |
| Financial expenses | (22.6) | (29.4) | (113.8) |
| Financial income | 11.8 | 23.8 | 90.9 |
| Financial expenses, net | (10.8) | (5.6) | (22.9) |
| Profit before income taxes | 98.5 | 180.0 | 681.2 |
| Taxes on income | (17.3) | (43.6) | (156.6) |
| Profit from continued operation | 81.2 | 136.4 | 524.6 |
| Total profit from discontinued operations | 0.6 | * | |
| Net income | 81.2 | 137.0 | 524.6 |
2nd Quarter Change in Net Profit (smm)
Net Financial Debt (smm)
Net Debt of \$1,127mm
- ロ Leviathan Bond June-25 series of \$600mm redeemed.
- □ \$389mm cash and equivalents on Balance
- □ Prudent financial managementt ahead of a new investment cycle
Net Debt calculated as financial liabilities minus financial assets as of 30.06.25 balance-sheet.
Firancial labilities includes of bords, Short-term liability to a banking corporation, Bords, Long-tern lability on a banking corporation. Firancial asstrandos: Cash and cas equivalents, Short-term deposits, Long-term deposits.
Balance Sheet Summary (\$mm) ---
| For the Period Ending | 30.06.2025 | 30.06.2024 | 31.12.2024 |
|---|---|---|---|
| Assets: | |||
| Current assets: | |||
| Cash and cash equivalents | 380.7 | 111.5 | 51.2 |
| Short-term deposits | 7.7 | 190.0 | 333.3 |
| Trade receivables | 146.5 | 256.1 | 209.6 |
| Trade and other receivables | 103.0 | 155.3 | 140.0 |
| 637.9 | 712.9 | 734.1 | |
| Non-current assets: | |||
| Investments in oil and gas assets | 2.737.6 | 2,640.5 | 2,682.3 |
| Investments in entities accounted for at equity | 60.9 | 60.8 | 61.7 |
| Long-term deposits | 0.8 | 0.5 | 0.5 |
| Other long-term assets | 520.2 | 493.5 | 513.7 |
| 3,319.5 | 3,195.3 | 3,258.2 | |
| 3,957.4 | 3,908.2 | 3,992.3 | |
| Liabilities and equity: | |||
| Current liabilities: | |||
| Current maturities of bonds | 590.5 | 485.6 | |
| Short-term liability to a banking corporation | 100.0 | ||
| Income tax payable | 7.8 | 16.3 | 10.8 |
| Trade and other payables | 108.2 | 93.2 | 106.6 |
| Other short-term liabilities | 0.9 | ||
| 216.0 | 700.9 | 603.0 | |
| Non-current liabilities: | |||
| Bonds | 1,141.3 | 1,138.7 | 1,140.0 |
| Long-term liability to a banking corporation | 275.0 | ||
| Deferred taxes | 383.4 | 349.7 | 391.5 |
| Other long-term liabilities | 77.0 | 68.0 | 70.5 |
| 1,876.7 | 1,556.4 | 1,602.0 | |
| Equity: | |||
| Partners' equity | 154.8 | 154.8 | 154.8 |
| Capital reserves | (28.2) | (28.2) | (28.1) |
| Retained earnings | 1,738.0 | 1,524.3 | 1,660.6 |
| Total equity attributed to unit holders | 1,864.6 | 1,650.9 | 1,787.3 |
| 3,957.4 | 3,908.2 | 3,992.3 |
Bulgaria-Black Sea Exploration Campaign
- ロ A rig contract was signed for the drilling of two offshore exploration wells offshore Bulgaria in the Han-Asparuh concession
- Vinekh-1 expected spud in 4Q-2025
- Krum-1 to be drilled immediately after
| Vinekh¹ | Krum2 | |||||
|---|---|---|---|---|---|---|
| Pg (%) | Tcf | Pg (%) | Tcf | |||
| A1 | 43 | 1.99 | D | 32 | 3.9 | |
| A3 | 28 | 0.57 | C/L | 22 | 1.9 | |
| B1 | 24 | 0.78 | C/U | 16 | 1.7* |
1 NSAI report 27.11.2024 ² NSAI Report 10.6.2025
* 3 separate accumulations
Dividends
- ロ \$60mm Dividend for the quarter
- □ Committed to delivering share-holders returns through dividend distributions.
Dividend Distributions
* Including latest declared Dividend and tax balancing distribution
NN. Thank You
NewMed Energy- IR Tel. +972 9 971 2421 [email protected]
Appendix
Leviathan Bond Sponsor Financial Data Report
| QUARTER ENDED | 30.06.2025 QUANTITY/ACTUAL AMOUNT (IN USD\$ ,000) |
|---|---|
| Total Offtake (BCM) | 2.0 |
| Leviathan Revenues (100%) | 422,906 |
| Loss Proceeds, if any, paid to Revenue Account | |
| Sponsor Deposits, if any, into Revenue Account | 174,500 |
| Gross Revenues (before Royalties) | 273,933 |
| Overriding Royalties | |
| Statutory Royalties | (26,511) |
| (b) Third Party Royalties | (10,605) |
| Net Revenues | 236,817 |
| Costs and Expenses: | |
| Fees Under the Financing Documents (Interest Income) | 1,268 |
| Taxes | (20,255) |
| Operation and Maintenance Expenses | (30,713) |
| Capital Expenditures | (28,328) |
| Insurance (income) | (5,630) |
| Total Costs and Expenses (sum of Items H(a), (b), (c), (d) and (e)) | (83,658) |
| Total Cash Flows Available for Debt Service (Item G minus Item H) | 153,159 |
| Total Cash Flow from operation (Item G minus Items H(c) and H(e) | 200,474 |
| Total Debt Service | 511,518 |
| Total Distribution to the Sponsor |