Slides
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September 2026
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Full E&P Value Chain Operation Tel - Aviv (TA - 35 ) listed LP with a market cap of c. $ 6.5 Billion World class E&P portfolio of assets, from Exploration through Development to Produc tion Evolution from Domestic to Key Regional player and Global expansion Financial strength based on robust cash - flow and economic value of assets 2
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3 Production
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▪ Ownership NewMed Energy 45.34 %, Ratio 15 %, Chevron Corp. (operator) 39.66 % ▪ 2 P Reserves * 19.5 tcf / 5 53 bcm , 43 mmbbl condensate ▪ Produced from start up * 2.2 tcf / 62.9 bcm, 5 mmbbl condensate ▪ Production Capacity 12 bcm /y 15.8 bcm /y 21 + bcm /y ▪ Additional Prospective Resources* (P 50 ) 3 68 mmbb oe (In two targets, 18 - 19 % Probability of Geologic Success) Leviathan – A Regional Energy Game Changer * Reserves estimate as of 31 st December 2 025 (Leviathan 100 %) 4 ( 2019 ) ( 2026 ) ( 2029 )
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Leviathan – Contracts and Sales Breakdown Long term contractual structure with Take or Pay mechanism and limited commodity price risk • Aggregate contracted sales volume of ~ 2 bcm /y • Take or Pay • Electricity Tariff index • Floor Price IPP & Electricity Related • 3.5 bcm /y with a Take or Pay commitment • Brent linked formula • Floor price Jordan - NEPCO • Currently • 2026 – 6.7 bcm /y + Interruptible • 2030 - ~ 12.5 bcm /y + Interruptible • Take or Pay commitment • Brent linked formula • Floor price Egypt - Blue Ocean 5
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6 Leviathan Actual Sales by Market 1.9 3.4 4.9 6.3 7.0 6.4 1.9 2.7 2.7 2.7 2.7 2.8 3.5 4.6 3.8 2.0 1.5 1.6 2020 2021 2022 2023 2024 2025 Egypt Jordan Israel 7.21 10.65 11.37 10.97 11.20 10.90
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7 Robust Price Environment 0.00 2.00 4.00 6.00 8.00 0. 20. 40. 60. 80. 100. 120. 140. Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26 Jul-26 Aug-26 Brent end of month ($/bbl) NewMed Realized Blended price ($/mmbtu)
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810 759 785 684 2022 2023 2024 2025 NewMed ’ s Leviathan - Actual Performance Net Production (BCM) Average Realised Price ($/ mmbtu ) Revenue ($mm) EBITDA ($mm) Leviathan 45.34 % WI - Strong operating and financial results $ Avg. opex ($/mcf) $ 0.73 $ 0.93 $ 0. 84 $ 0.84 8 5.2 5.0 5.1 4.9 2022 2023 2024 2025 1,144 1,094 1,136 1,011 2022 2023 2024 2025 6.2 6.1 6.1 5.6 2022 2023 2024 2025
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9 Development
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Strategically located in the East Med • Leviathan is key for the success of Israel ’ s energy independence Israel • Increased demand coupled with declining production. A growing gas deficit for the foreseeable future • Vision to become a regional gas hub places Leviathan as a key external source of supply Egypt • With limited domestic production, Jordan ’ s power sector is dependent on natural gas imports Jordan 10 Leviathan is a key strategic asset addressing the region ’ s immediate Energy needs An Island of Supply in a Sea of Demand
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Egypt Gas Supply - Demand Balance Source : Wood - Mackenzie , middle - east - east - med - gas - market outlook - january - 2026 11 A growing deficit amounting to 40 - 50 bcm /y of natural gas in the Egyptian gas market by the end of the decade 0 10 20 30 40 50 60 70 80 90 100 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 Egypt Domestic Gas Production Egypt Domestic Gas Demand Egypt Demand inclunding LNG Facilities 20 BCM/y 40 BCM/y
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Israel Domestic Market Demand Source : BDO consulting 12 13.9 2.7 0.6 0.3 2.5 - 4.3 3.5 2024 Population Growth Economic growth Desalination Coal phase - out Renewable Energy Electrific Transportation 2035 19.2 Organic Growth Energy Transition ❑ Israeli market will require additional 5.3 bcm by 2035
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13 Regional Connectivity Existing pipeline Planned pipeline 1 Egypt Israel Jordan Cyprus Egypt Israel Jordan Cyprus Leviathan Israel Jordan Mediterranean Sea Connecting pipeline to Jordan transmission system Arab gas pipeline, connecting Egypt & Jordan Existing pipeline LNG site Platform I NGL Ashdod - Ashkelon pipeline EMG Debottleneck Nitzana Export Route Under construction 2 2 LPP FAJR + compression station 3 1 2 3 Nitzana pipeline project – 600 mmcf /d – 4 Q 2028 ▪ Leviathan capacity : 250 mmcf /d Total Expected Leviathan export capacity : 1,625 mmcf /d FAJR + compression – Additional 400 mmcf /d – 2 H 2026 ▪ Leviathan capacity : 7 25 mmcf /d (Jordan + Egypt) I NGL Ashdod - Ashkelon, EMG pipeline Debottleneck using Full capacity of EMG – 850 mmcf/d – 3 Q 2026 ▪ Leviathan capacity : 650 mmcf/d – Completed 13
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14 Leviathan Expansion ❑ Three new wells ❑ Sub - sea infrastructure ❑ 2 new processing trains on the Platform Capex budget c. $ 2.4 B ( 100 % Leviathan) 15.8 bcm / y 21 + bcm / y Production capacity * Numbers for 100 % Leviathan
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15 Leviathan Expected Production (BCM/Y) 0 2 4 6 8 10 12 14 16 18 20 22 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 Egypt Jordan Israel Poduction Capacity 1 . 2020 - 2025 Actual Sales ; 2 . Yellow: Egypt ACQ, light yellow: Egypt spot ; 3 . Jordan ACQ ; 4 . Available sales for Israel domestic 1 2 3 4
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NewMed ’ s Leviathan 2 P Expected C ash F low Leviathan ( 45.34 %, $ ’ mm) NewMed Energy Leviathan 2 P reserve and DCF, as of 31 st December 2025 16 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 - 1,000 - 700 - 400 - 100 200 500 800 1,100 1,400 1,700 2,000 2,300 2,600 Revenue Royalties OPEX CAPEX Levy Income Tax Cash Flow
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Cyprus - Aphrodite Project Zone I may be modified❑ Ownership NewMed Energy 30 %, Shell 35 %, Chevron Corp. (operator) 35 % ❑ 2 C Resources 3.53 tcf ( 100 bcm ), 7.9 mmbbl condensate ❑ Location 168 km south of Limassol, 1,700 m water depth ❑ Expected Production Capacity up to 800 mmcf /d ❑ Target Markets Egypt Domestic + Regional export ❑ Status ▪ FEED ▪ Signed MOU for the sale of the full quantities of Natural Gas that can be produced from the Aphrodite Reservoir ❑ Shell announced agreement to sell its 35 % working interest to MOL Group for up to $ 720 mm 17 * NSAI report as of Dec 31 st 2025 *
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18 Finance
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Net Financial Debt & LTV 19 ❑ Net Debt of $ 1,393 mm* ❑ Undrawn Banks credit facilities in the amount of $ 550 mm* available for corporate needs ❑ Strong balance sheet supported by robust economic value of assets. ❑ Low level of leverage entering a new investment cycle Dec 22 Dec 23 Dec 24 Dec 25 Jun 26 1,737 1,527 1,241 1,234 1,393 • As of June 30 th 2026 in $ ’ mm • LTV calculated as net Debt divided by NewMed ’ s Leviathan 2 p 2 c NPV 10 + Aphrodite book value for the Period 33 % 28 % 23 % 20 % 23 % LTV Net Debt
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Strong Financial Position 20 C. $ 480 mm * yearly FCF from Leviathan, available for Debt Service $ 550 mm ** Undrawn Banks credit facilities $ 4,047 mm ** Total Assets on Balance Sheet *NewMed Energy Leviathan 2 P reserve and DCF, as of 31 st December 2025 , Average cash flow between 2026 - 2030 is $ 481.3 mm ** As of June 30 th 2026
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21 פרטי ההצעה סדרה ב ' סדרה ג ' סוג אגרות חוב סטרייט הצמדה ללא הצמדה , שקלי קבוע דולר דירוג 1 A ע " י מידרוג תשלומי ריבית פעמיים בשנה בסוף חודש יוני ודצמבר בשנים 2026 - 2034 ( החל מדצמבר 2026 ועד דצמבר 2034 ) פירעונות קרן ▪ 6% ביום 31 בדצמבר בכל אחת מהשנים 2027 - 2028 ▪ 12% ביום 31 בדצמבר בכל אחת מהשנים 2029 - 2030 ▪ 6% ביום 31 בדצמבר בשנת 2031 ▪ 12% ביום 31 בדצמבר בכל אחת מהשנים 2032 - 2033 ▪ 34% ביום 31 בדצמבר בשנת 2034 מח " מ כ - 5.2 שנים כ - 5 שנים
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Disclaimer This presentation was prepared by NewMed Energy Limited Partnership (the “ Partnership ” ) and is given to you only for the provision of concise information for the sake of convenience and may not be copied or distributed to any other person. The Data and information included in this prese nta tion should not be interpreted as advice and should not be relied on for any purpose. Such data and information should not be copied or used except as expressl y p ermitted in writing. This presentation does not purport to be comprehensive or to contain any and all information which might be relevant in conne cti on with the making of a decision on an investment in securities of the Partnership. No explicit or implicit representation or undertaking is given by any person regarding the accuracy or integrity of any infor mat ion included in this presentation. In particular, no representation or undertaking is given regarding the realization or reasonableness of any forecasts regarding the future chances of the Partnership. To obtain a full picture of the activities of the Partnership and the risks entailed thereby, see the full immediate and peri odi c reports filed by the Partnership with the Israel Securities Authority and the Tel Aviv Stock Exchange Ltd., including warnings regarding forward - looking information, as d efined in the Securities Law, 5728 - 1968 , included therein. The forward - looking information in the presentation may not materialize, in whole or in part, or may materiali ze differently than expected, or may be affected by factors that cannot be assessed in advance. For the avoidance of doubt, it is clarified that the Partnership do not undertake to update and/or modify the information inc lud ed in the presentation to reflect events and/or circumstances occurring after the date of preparation of the presentation. This presentation is not an offer or invitation to buy or subscribe for any securities. This presentation and anything contai ned herein are not a basis for any contract or undertaking and are not to be relied upon in such context. The information provided in the presentation is not a basis for th e m aking of any investment decision, nor a recommendation or an opinion, nor a substitute for the discretion of a potential investor.
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NewMed Energy - IR Tel. + 972 9 971 2421 IR@newmedenergy.com Thank You 23