Investor Presentaiton

Made public by

sourced by PitchSend

9 of 22

Creator

PitchSend logo
PitchSend

Category

Pending

Published

Unknown

Slides

Transcriptions

#1PETRAS MAHA Investor Presentation Maha Energy February 2023 ENERGY Confidential - Do not distribute without written permission from Maha#2Disclaimer Future Oriented Financial Information and Notes to the Presentation This information has been made public in accordance with the Securities Market Act (SFS 2007:528} and/or the Financial Instruments Trading Act (SFS 1991:980}. Forward-Looking Statements Certain statements made and information contained herein constitute "forward-looking information" (within the meaning of applicable securities legislation}. Such statements and information (together, "forward-looking statements"} relate to future events, including the Company's future performance, business prospects or opportunities. Forward-looking statements include, but are not limited to, statements with respect to estimates of reserves and/or resources, future production levels, future capital expenditures and their allocation to exploration and development activities, future drilling and other exploration and development activities. Ultimate recovery of reserves or resources are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. All statements other than statements of historical fact may be forward-looking statements. Statements concerning proven, probable and possible reserves and resource estimates may also be deemed to constitute forward-looking statements and reflect conclusions that are based on certain assumptions that the reserves and resources can be economically exploited. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions} are not statements of historical fact and may be "forward-looking statements". Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations and assumptions will prove to be correct and such forward- looking statements should not be relied upon. These statements speak only as on the date of the information and the Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by applicable laws. These forward-looking statements involve risks and uncertainties relating to, among other things, operational risks (including exploration and development risks}, productions costs, availability of drilling equipment, reliance on key personnel, reserve estimates, health, safety and environmental issues, legal risks and regulatory changes, competition, geopolitical risk, and financial risks. These risks and uncertainties are described in more detail under the heading "Risks Factors" and elsewhere in the Company's Prospectus. Readers are cautioned that the foregoing list of risk factors should not be construed as exhaustive. Actual results may differ materially from those expressed or implied by such forward- looking statements. Forward-looking statements are expressly qualified by this cautionary statement. k Glossary Thousand m Million boe bbls Barrels of oil equivalent Barrels bopd boepd Barrels of oil per day Barrels of oil equivalents per day kscf Thousand standard cubic feet Gas to oil conversion 6,000 cubic feet = 1 barrel of oil equivalent All monetary values are in USD unless otherwise noted. 2#3Today's Presenters Paulo Thiago Mendonça CEO Bernardo Guterres CFO Professional Experience Curriculum • Starboard 3R PLURAL ASSET PETROLEUM Current Managing Director at Starboard, responsible for private equity investments in the O&G industry and previously the Head of Investment Banking at Brasil Plural Held positions as Chairman, Board Member and Director of Business Development at 3R Petroleum. Responsible for raising more than USD 2 billion in equity and debt, and paramount to the development of 3R Petroleum into one of the key independent oil companies in Latin America • Starboard ASSET PetroReconcavo Safra Gran Tierra Energy Itaú BBA ☑ Deutsche Bank OPPORTUNITY Current Partner and Executive Director at Starboard, responsible for sourcing, evaluating, and leading the execution of investment transactions. More than 15 years experience in the investment banking, asset management, project finance and private equity industry Prior to joining Maha Energy, Bernardo held positions at Safra Investment Banking, Safra Private Equity, Opportunity Asset Management, Deutsche Bank and Itau BBA • • • Source: Company information 3 Alan Johnson COO GLENCORE More than 28 years in international upstream oil and gas on five continents Experience includes varied technical, managerial and executive roles in drilling production, reservoir, reserves, corporate planning and asset management 1st Class Honours Degree in Mechanical Engineering from Heriot-Watt University, Edinburgh MAHA ENERGY#4Agenda K 01. Company Overview 02. Assets Overview 03. Financial Data & ESG • 0 • • MAHA ENERGY--#501. ✓ Company Overview • • • 5 6 0 • 0 0 • • MAHA ENERGY#6Company Highlights ← 1) Updated on 3 February 2023 Source: Company information Recent significant change on Maha's shareholder structure, board of directors and management, bringing sectorial expertise and successful track record An Investment Fund managed by Starboard, a Brazilian private equity firm, became Maha's new largest shareholder, with ~19.9% ownership and representation on the board and management - Starboard brings significant experience in oil & gas and finance – the architect of 3R Petroleum, a leading Latin American E&P independent with market cap.' of USD ~1.7bn Capital increase via direct issue in December 2022, raising USD 20m strengthening capital structure and diversfying the shareholder base with long-term investors Actively searching for opportunistic and accretive global M&A transactions of mature oil and gas fields. Signed SPA for the divestment of Brazilian assets and agreement for potential business combination with DBO Energy, which holds 15% in 3R Offshore's shares Farmout and Joint Operational Agreement signed with Mafraq Energy LLC, for the assignment of Maha's 35% W.I on Block 70 in Oman. 6 EN MAHA ENERGY#7Maha at a Glance Company information • Independent E&P company listed on Nasdaq Stockholm's Main Market with a market capitalization³ of USD 131.8 million (SEK 1.36 bn) Currently operating in Brazil, US and Oman • • • Production from Tie and Tartaruga fields in Brazil and Illinois Basin in the US, 3,300 boepd net production (LTM¹) 3.2 mmboe 2P reserves of Oman5 and Illinois Appraisal asset in Oman with net contingent resources 5 2C of 21.0 mmboe Recent change in shareholder structure, board and management Investment Fund managed by Brazilian private equity firm Starboard acquired ~19.9% ownership Overview of assets² LAK Ranch, US Illinois, US Legend: Onshore A wwwwwwwwww Offshore • Starboard brings significant experience and track record in oil & gas and finance. Currently investigating divesting US assets, with transactions ongoing: Shareholder Structure 1. Binding term sheet signed regarding business combination with DBO Energy, which holds 15% in 3R Offshore (Peroá and Papa Terra fields) 2. SPA signed on 27 December 2022 for the divestment of Brazilian assets (Tartaruga and Tiê fields) Royal decree approving farmout agreement with Mafraq Energy LLC and signing of the Joint Operational Agreement in Block 70 in Oman Advanced well testing in Oman, production set to start in 1Q23 Notes: 1) Last twelve months per 30 September 2022; 2) Peroá and Papa Terra are in the process of business combination and Tartaruga and Tiê are in the process of divestment; 3) Updated on 3 February 2023; 4) For YE 2022: IB (2.7 mmboe) and 65% W.I. Oman (0.5 mmboe); 5) 65% W.I. Source: Company information 7 19.9% Starboard ASSET Tartaruga, Brazil Tiê, Brazil Peroá, Brazil Papa Terra, Brazil MAHA ENERGY Middle East Mafraq, Oman 5.7% btg pactual 5.0% AVANZA III 69,4% Others MAHA ENERGY#8New Strategic Positioning, Focused on Expanding Maha's Footprint and Maximizing Shareholder Returns For future M&A opportunities, Brazil presents an attractive free cash flow per barrel The new direction comes with key near term workstreams and priorities, including: || Improvement of Maha's current capital structure, strengthening the balance sheet and cash position Optimization of CAPEX and OPEX to capture enhanced returns for deployed capital III Analysis of asset portfolio optimization, including divestments and new developments / M&A • THE NEW STRATEGIC POSITIONING CONTAIN M&A FOCUSED GROWTH IN ORDER TO MAXIMIZE RETURNS TO SHAREHOLDERS Maha will look for accretive opportunities, paying attractive entry multiples (EV/2P; P/NAV; EV/EBITDA) • The company is set to focus on mature fields to diversify its current production profile . • Current pipeline includes I) Conclusion of divestment of Maha Brazil; II) Potential divestment US assets and III) Conclusion of business combination with DBO Energy Conclusion of Oman farmout and Joint Operational agreement, bringing a local partner with expertise and de-risking the project Brazil continues to be an attractive option for future M&A's 18.8% 12.5% 10.0% 5.0% onshore offshore onshore offshore 1) Up to 7,5% 20.0% 16.5% 12.5% 11.3% 10.0% 10.0% 30.0% 27.5% (*) Brazilian royalties' rate leads to higher free cash flow generation compared to other countries Other upsides: In some Brazilian states there are incentives programs such as SUDENE that can reduce up to 75% the income tax rate 8 Source: ANP 2021, The Law Library of Congress, Global Legal Research Center MAHA ENERGY#9Contemplated business combination with DBO¹ - Highlights { MAHA MAHA +dbo energy ENERGY ← Binding term sheet signed regarding business combination with DBO Energy, which holds 15% in 3R Offshore's shares'. Consideration of 36,775,410 new shares in Maha - value of USD ~33.7 million at share price per 3rd February. Increase Maha's net 2P reserves with ~18.5 mmboe and estimated to add ~2,000 boepd net production in 2023 with further upside through ramp-up at Papa Terra, Peroá and the potential Malombe development² The transaction reinforces the construction of a diversified portfolio balanced between mature oil and gas onshore and offshore assets Acquired 1P and 2P reserves have an estimated value (NPV10) of USD 86 million and USD 145 million (net of future contingent payments) based on public reserve reports 2,3. Net cash flow² of USD 16m in 2023 Attractive price metrics - P/NAV of ~0.39x based on 1P reserves, ~0.23x based on 2P reserves, and EV/2P of USD ~3.0/boe. 1) 2) 3) Number of shares may be adjusted in view of applicable taxes). The transaction is subject to confirmatory and satisfactory due diligence, board approvals and, if applicable, regulatory approvals, as well as a general meeting in Maha resolving to issue new shares, or to approve a resolution of the board of Maha to issue new shares Based on public reserve reports from DeGolyer and MacNaughton and Gaffney Cline. Value estimates are based on oil price of USD 71/bbl in 2023 and USD 66/bbl thereafter and a gas price of USD 5.0-5.5/mcf Institutional Presentation, 3R Petroleum, August 2022 6 MAHA ENERGY#10Solid balance sheet and asset diversification with the completion of the two announced transactions The company will have a cash position and M&A receivables that is higher than the current market cap Key takeaways Attractive metrics Maha's current market cap is very discounted when compared to the Company's new NAV ( the sum of: US assets' NAV; Mafraq's NAV; Cash position and receivables net of debt; and DBO's NAV) This scenario presents a potential upside if Maha's multiple converge to the average P/NAV of Nordic and Brazilian E&P companies Only the "Cash position and receivables 3" (USD 204.3 million) net of debt (USD 48.7 million) is 1.18x Maha's current market cap¹ Cash Position³ Others DBO GAV 4 and receivables NAV² 397,603 26,974 (49,408) 326,873 (21,321) 26,974 204,338 166,291 154,930 165,550 131,800 144,970 The average P/NAV of Nordic E&P companies is 0.60x Current P/NAV of 0.51x 33,750 DBO Acquisition P/NAV of 0.23x Total GAV Debt NAV Market Cap 1) Updated on 03 February 2023; 2) Based on McDaniels' certificate on 31 December 2022 (IB USD 20,740k; Oman 100% W.I. USD 6,234k); 3) Cash balance on 30 September 2022: USD 11,338k; Acq. Price: USD 138,000 k; Earn-outs: USD 36,000; Capital increase net of fee: USD 19,000k; 4) Based on public reserve reports from DeGolyer and MacNaughton and Gaffney Cline; 5) Considers Maha's debt on 30 September 2022 (USD 49,408k) and USD 21.3 million for DBO contingent payments; 6) Considers the issuance of 33,775,410 shares related to DBO transaction, price based on 3 February 2023; 7) Weekly E&P update Sparebank1 on 04 February 2023 10 10 Км MAHA ENERGY#11Contemplated business combination with DBO¹- Overview Key takeaways Key stats (net DBO) Net production to DBO (kboepd)1 Papa Terra Peroá • DBO is a private upstream oil and gas company focusing on mature offshore fields in Brazil 15% and 9.375% interest in Peroá • DBO entered into a JV agreement with 3R Petroleum in 2021 - creating 3R Offshore and Papa Terra • DBO / 3R Petroleum holds 15% / 85% of the shares in 3R Offshore 3R Offshore signed two SPAs in 2021 18.5 mmboe 4.1 4.0 3.8 3.7 3.6 0.9 3.5 0.9 0.9 0.9 Net 2P reserves (YE'22) 0.9 2.8 0.9 · • Peroá Cluster (100% WI) - signed in Feb'21, closed in Aug'22 • Papa Terra Cluster (62.5% WI) - signed in July 2021, closed in Dec'22 0.5 2.1 DBO will add an estimated 18.3 mmboe 2P reserves with net NPV10 of USD 145 million to Maha¹ USD 145 million NPV10 of 2P (YE'22) 0.5 • DBO's current shareholders shall receive 36,775,410 (number may be adjusted in view of applicable taxes) shares issued by Maha as payment - valued at USD ~33.7million at share price per 03 February 2023 . 1P reserves valued at USD 86 millions (P/NAV 0.39x) and 2P reserves valued at USD 145 million (P/NAV 0.23x) based on public third-party reserve reports. USD 161 million Cumulative net cash flow 2023-2030 1) Based on public reserve reports from DeGolyer and MacNaughton and Gaffney Cline and Institutional Presentation, 3R Petroleum, August 2022. Value and cash flow estimates are based on oil price of USD 71/bbl in 2023 and USD 66/bbl thereafter and a gas price of USD 5.0-5.5/mcf and are net of contingent payments 11 3.1 3.2 2.9 2.8 2.6 2.5 2.3 1.6 2023 2024 2025 2026 2027 2028 2029 2030 Ама MAHA ENERGY#1202. Assets Overview • • • 12 6 0 • 0 0 • • MAHA ENERGY#13DBO Assets - Peroá, Cangoá and Malombé (15% indirect working interest) Key takeaways • The Peroá gas cluster is located in the Espírito Santo basin, offshore Brazil in shallow waters Key stats¹ (net DBO) Field overview and key field statistics² 2.9 mmboe Net 2P reserves (YE'21) Location & Basin Espírito Santo Type: Offshore Brazil Concession Term: Partners: USD 23 million (YE'22) Offtaker: 2025 (extendable by 27 years) 3R Petroleum (OP,85%) and DBO (15%) Petrobras Recovered Gas: 72.4% / 65.6 mmboe • • The Peroá cluster includes the Peroá and Cangoá producing fields and the Malombé discovery • Malombé is considered to be tied back to the Peroá platform in the future and could add an estimated production of 16 kboepd (gross) at peak Peroá platform has available capacity for Malombé with limited additional CAPEX Approximately 72.4% gas has been recovered and remaining 2P reserves are estimated to 19 mmboe gross per year-end 2022 The cluster has a 55km gas pipeline connection to the Cacimbas gas processing plant (operated by Petrobras) and has an unmanned platform with an OPEX of approximately USD 5/boe Brazil is a net importer of gas, with LNG being the marginal source of supply Net 2P NPV10 USD 36 million Cumulative net cash flow 2023-2030 ~523 boepd Net production Oct 2022 1) Based on public reserve reports from Gaffney Cline and Institutional Presentation, 3R Petroleum, August 2022. Value and cash flow estimates are based on a gas price of USD 5.0-5.5/mcf and are net of contingent payments. 2) Institutional Presentation, 3R Petroleum, August 2022 13 Peroá Cluster PPER-1 25m 50m UTGC Pólo Cacimbas PEROÁ CANGOA 100m 500m PPER-1 15km ESS-206 PEROÁ CANGOÁ ESS 67 ESS-77 8582 PER-3 PER-1 ESS-105 99A BM-ES-21 PETROBRAS 89.89% REPSOL 11.11% 10k Ring Fence Exploration Block PAD 1-ESS-206 MALOMBE 80 2 miles MAHA ENERGY#14DBO Assets - Papa Terra (9.375% indirect working interest) Key takeaways Key stats (net DBO) Field overview and key field statistics² Location / Basin 15.6 mmboe Type: Concession Term: Partners: Recovered Oil: Rio de Janeiro / Campos Offshore Brazil 2032 (extendable by 27 years) 3R Petroleum (OP,53.125%), MTI Energy (37.5%) and DBO (9.375%) Under negotiations 2.4% / 46.6 mmboe (Oct- 22) • • . • Papa Terra is a heavy oil field located in deep waters in the Campos Basin, approximately 100km off the coast of the State of Rio de Janeiro, Brazil Approximately 2.4% of the oil has been recovered as of October 2022 and gross 2P reserves are estimated to 166 mmboe per year- end 2022 3R Offshore closed the acquisition of Petrobras' working interests (62.5%) in the Papa Terra Cluster in December 2022 State of the art assets with 6 years of operations • • P-63 FPSO and P-61 Tension Leg Wellhead Platform - USD ~3bn in gross historical investments All assets are owned by the license holders. Thus, DBO has a 9.375% stake in both assets The P-61 is a tension leg wellhead platform (TLWP), the first of its kind to be installed in Brazil's offshore and the first to use floating dry tree technology in the country. Net 2P reserves (YE'21) USD 122 million net NPV10 of 2P (YE'22) USD 126 million Cumulative net cash flow 2023-2030 Offtaker: • FPSO P-63 has an oil production capacity up to 140,000 bopd Papa Terra ~1,726 boepd Net production Dec 2022 FPSO P-63 1) Based on public reserve reports DeGolyer and MacNaughton and Institutional Presentation, 3R Petroleum, August 2022. Value and cash flow estimates are based on oil price of USD 71/bbl in 2023 and USD 66/bbl thereafter and are net of contingent payments. 2) Institutional Presentation, 3R Petroleum, August 2022 14 Field (VOIP) (5) 1 Papa Terra (1.9 billion bbls) (4) Maromba (2.1 billion bbls) 3 Peregrino (4.0 billion bbls) 4 Tubarão Martelo (428 million bbls) 5 Polvo (544 million bbls) TWLP P-61#15Peroá is a low-risk asset (~90% of proven reserves) while Papa Terra presents an interesting upside Reserves Breakdown for Peroá (As of Apr/2021) Peroá 15% W.I. production profile boepd 6,000 15% W.I. 1P 2P 3P 5,000 Oil 60 75 90 4,000 3,000 Gas 2,958 3,283 3,773 2,000 Total 3,018 3,358 3,863 1,000 NPV 10 26,877 31,371 39,042 Reserves Breakdown for Papa Terra (As of dec/2021) 4,000 9.375% W.I. 1P 2P 3P 3,000 Oil 10,245 16,031 20,687 2,000 Total 10,245 16,031 20,687 1,000 NPV 10 83,629 134,950 201,749 Source: Based on public reserve reports from Gaffney Cline and Institutional Presentation, 3R Petroleum 15 2006 2008 2010 2012 Historical PD 1P 2P 3P 2014 2016 2018 2020 2022 2024E 2026E Papa Terra 9.375% W.I. production profile boepd Historical PD 1P 2P 3P 2028E 2030E 2032E 2034E 2013 2015 2017 2019 2021 2023E 2025E 2027E 2029E 2031E 2033E 2035E 2037E 2039E 2041E 2043E 2045E ✓ MAHA ENERGY 2036E#16Oman - Undeveloped Heavy Oil Asset Key takeaways Block 70 is located close to other major established oil fields, and contains the Mafraq oil discovery from 1988 • Mafraq is de-risked through extensive seismic and a total of five wells drilled pre-2020, including a production test Key stats 6 Drilled wells Field overview • • . Planning a phased development approach, with an initial committed work program of 11 wells plus seismic reprocessing, equivalent to USD ~20 million. Six wells have been drilled to date with drilling ongoing Signed agreement to farmout 35% WI to Mafraq Energy LLC • • • Maha to be reimbursed for 35% of all past costs and signature bonus Mafraq Energy LLC will pay its share of future expenditures on Block 70 Mafraq Energy LLC brings important technical expertise as well as strategic partnership in Oman for future growth Royal Decree by the Sultanate of Oman approving the farmout transaction Signed joint operational agreement with Mafraq Energy LLC on 28 January 2023 Production set to start in 1Q23 20,985 (mbbls) 2C Contingent Resources¹ 515 (mbbls) 2P Reserves¹ 348.5 (mmbbls) OOIP² Other major oil companies are present in Oman, neigbhoring Maha's Block 70 1) 65% woking interest 2) 100% Working Interest Source: Company information 16 47 Eni Muscat 51 ☐ [ Occidental 62 42 Shell 3 CC Energy 77 Eni 70 4 CC Energy MAHA ENERGY#17IB - Light Oil Asset - Classic Low Risk Development Case Key takeaways Key stats¹ · • As press released on 2 December 2022, Maha is currently investigating the potential sale of the company's US assets Operator (97% WI) of a conventional oil field in the Illinois Basin • Acquired from Dome Energy in March 2020 2.7 (mmboe) Net 2P reserves (YE'22) • . • One of the oldest oil producing basins in North America Relatively lower risk conventional oil play that requires low- cost drilling and stimulation operations Net oil production of 314 bopd in Q3'22 from 46 wells, compared with 540 bopd in Q2'22 and 223 bopd in Q3'21 . Decline Q/Q in Q3 a result of natural decline and no well activity in the quarter USD 20.7 million Net NPV10 of 2P (YE'22) · . Since acquisition in 2020, production is up from 160 bopd Company retains optionality on new well drilling going forward with over 40 drilling locations In addition, Maha holds 99% WI in LAK Ranch oil field in the Powder River Baisin in Wyoming • Shut down since 2020 following the Covid-19 outbreak • Minimal work is planned 314 (boepd) Net production 3Q22 Source: Company information 17 17 Field overview ILLINOIS INDIANA Illinois Basin KENTUCKY MISSOURI Maha Lease Area TENNESSEE MAHA ENERGY#1803. Financial Data & ESG • 18 • • 6 0 • 0 0 • • MAHA ENERGY#19Financial Overview 3Q22 USD/bbl 140.00 120.00 100.00 80.00 60.00 40.00 20.00 0.00 ago-16 jan-17 jun-17 nov-17 abr-18 set-18 fev-19 jul-19 dez-19 mai-20 out-20 1) Considers proceeds of capital increase net of fees (USD 19 million) and equity balance at 3Q 22 (USD 116.6 million); 2) Considers the cash balance (USD 11.3 million) and debt (USD 49.4 million) at 3Q 22 plus the capital increase net of fees 3) Updated on 3 February 2023 Source: Company information mar-21 USD 0.92 SEK 9.51 SEK/sh Brent Maha USD 2.44 SEK 23.88 52 Week High 35.00 USD 0.78 SEK 8.14 52 Week Low ago-21 jan-22 jun-22 nov-22 19 30.00 THE STOCK³3 Current Stock Price USD 0.5 million SEK 5.2 million ADTV 30 days CAPITALIZATION 25.00 USD 131.8 million Market capitalization³ USD 19.1 million Net debt¹ 20.00 USD 150.1 million USD 30.3 million 0.3x 15.00 Enterprise Value Cash¹ Net debt / EBITDA 10.00 USD 90 million 3,300 boepd 5.00 USD 62 million USD 48 million 0.00 KEY FINANCIALS - LAST TWELVE MONTHS PER 3Q22 Revenue Net production EBITDA Operating cash flow USD 30 million Net result MAHA ENERGY#20Corporate Responsibility is Core at Maha E Environmental efforts to minimize negative impact S Employment & Community Relations Tie Gas to Wire project allows electricity generation with gas that would otherwise be flared Zero water dischare. All water is reinjected as part of water injection scheme ✓ Important source of gas to local community Local contracting wherever possible 96% of companies contracted from country of operations Tartaruga Located on the coast - operations set up to minimiza disruption to local wildlife and habitat Instead of traditional rig, short mast rig was used to minimize light polution duribg turtle nesting season SAPOTI Cultural Enrichment Program Non-traditional education projet in reading, public speaking and theoretical performance 300+ community members in Tararuga participated Plan to continue this program near the Tie Field LAK Ranch & Illinois Basin Reduced water discharge to zero (100% water recycling) Special pump jacks to allow simultaneous irrigation activities and oil production Proactive spill prevention management Maha Connect Local stackholders can connect with Maha through a new communication channel called Maha Connect G Strict Governance Importance (H&S) Focus on Efficient and Safe Operations Source: Company information 23 External Q1 Q2 Listing in Stockholm ensures transparancy In reporting Q4 Q3 Nasdaq Our Values Carr MAHA MAHA Company Objectives MAHA HSE Policy Proph Al Maha Health, Safety and the Environment is 1 Be Profitable Work Safe Continually Improve Work with Integrity Enjoy the work STOP 2 Internal Internal governance guidelines to assist in decision making process O discrimination incidents O whistle blowers incidents O anticorruption incidents HSE committee established to review operations and HSE management systems DUPONT▸ A year of safe opeartions 89% complete on coporate wide implementation DuPont™M STOPTM safety system 9,900 safety training and awareness manhours in 2021 1,300 safety card submitted by personeel in 2021 20 20#21PETRAS MAHA ENERGY

Download to PowerPoint

Download presentation as an editable powerpoint.

Related

Q4 & FY22 - Investor Presentation image

Q4 & FY22 - Investor Presentation

Financial Services

FY23 Results - Investor Presentation image

FY23 Results - Investor Presentation

Financial Services

Ferocious - Plant Growth Optimizer image

Ferocious - Plant Growth Optimizer

Agriculture

Market Outlook and Operational Insights image

Market Outlook and Operational Insights

Metals and Mining

2023 Investor Presentation image

2023 Investor Presentation

Financial

Leveraging EdTech Across 3 Verticals image

Leveraging EdTech Across 3 Verticals

Technology

Axis 2.0 Digital Banking image

Axis 2.0 Digital Banking

Sustainability & Digital Solutions

Capital One’s acquisition of Discover image

Capital One’s acquisition of Discover

Mergers and Acquisitions