Neptune Norway's Asset Portfolio Integration
Strong liquidity position and flexibility to fully finance the acquisition
Ample liquidity headroom
USD million
Leverage ratio well below target²
USD billion
Solid debt financing structure
Maturity profile (USD million)
NIBD/EBITDAX target over-
Below 1.3x i
the-cycle
4045
3 769
1500
0.4x
0.3x
0.3x
3 600
3 000
769
445
Q4 2022
Q1 2023
Cash and cash equvivalents
RCF1
15
1. Revolving Credit Facility
2.7
2.4
1500
L
2025
500
1000
700
1000
2026
2027
2028
2029
2032
Q4 2022
Q1 2023
Q1 2023 PF post
transaction²
2023
2024
NIBD
NIBD/EBITDAX
2. Illustrative as of Q1 2023 based on reported EBITDAX for Neptune Norway and NIBD taking into account enterprise purchase price., subject to customary closing adjustments
USD Senior Notes
Euro Senior Notes
W/C Facility
Syndicated RCF
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