25 Nov

AGM 2021 Presentation

Ener gy Wor ld Cor por at ion Lt d 2021 Annual G ener al M eet i ng (ASX: EWC) November 2021 ENERGY WORLD CORPORATION LTD PG 2 Energy World Corporation Ltd (ASX: EWC) is an established, integrated energy company with operations in SE Asia & Australia The development , design, construction and operation of power related infrastructure OUR BUSINESS Our vision is to deliver clean and affordable energy to the Asian market for power generation, underpinning industrial progress and supporting the growth of renewable energy Over the next 12-24 months we aim to bring online our 2mtpa liquefied LNG facility in Sulawesi and our 650 MW power plant and LNG receiving terminal in the Philippines. Our core operations comprise a profitable gas and power production operation in Sulawesi, Indonesia ENERGY WORLD CORPORATION LTD PG 3 The Company’s asset base has increased as a result of construction of the projects in the Philippines and Indonesia Substantial funding has been obtained by deferring payments to Slipform, a related party construction company Current profitability is principally derived from the Sengkang power station - 200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 1,600,000 1,800,000 FY2017 FY2018 FY2019 FY2020 FY2021 Oil & Gas Assets, PP&E, Assets Under Construction and Exploration & Evaluation Assets Assets under construction Property, Plant & Equipment Exploration & Evaluation Expenditure Oil & Gas Assets 80,000 85,000 90,000 95,000 100,000 105,000 110,000 FY2017 FY2018 FY2019 FY2020 FY2021 Gross Profit (US$ '000s) - 20,000 40,000 60,000 80,000 100,000 120,000 140,000 160,000 180,000 200,000 FY2017 Reported Revenue FY2018 Reported Revenue FY2019 Reported Revenue FY2020 Reported Revenue FY2021 Reported Revenue Revenue by segment Indonesia: Oil & Gas Indonesia: Power Australia: Oil & Gas Australia: Power FINANCIAL RESULTS ENERGY WORLD CORPORATION LTD PG 4 Source: BP Outlook 2017 According to BP, gas will soon overtake coal to become the world’s 2 nd most important source of energy Demand for LNG from Asian consumers is forecast to double over the next 15-20 years, stoked further by demand for gas from industry Renewables are growing rapidly, but from a low base: gas is needed to help stabilise the grid, particularly in Asia Pacific Gas and LNG – Transition to a Green Energy Future ENERGY WORLD CORPORATION LTD PG 5 Gas and LNG – Transition to a Green Energy Future Australia and a majority of global nations have pledged to achieve Net Zero Emissions of CO2 by 2050 Renewable Energy is the future, and LNG will help the Philippines and Indonesia move in this direction. Energy World has developed world class LNG production, Receiving and distribution projects with a 30 year + lifespan. During the operation of these projects, Energy World must look to develop renewable resources, and new technologies such as carbon capture to help build a sustainable business for generations to come. ENERGY WORLD CORPORATION LTD PG 6 Electricity Demand is Growing • Indonesian and Philippine energy demand is growing rapidly from a low base. • The Philippines Department of Energy forecasts that the Philippines will need 43,765 MW of additional power capacity to meet anticipated growth in demand by 2040. • EWC is ideally positioned to facilitate this growth through its portfolio of advanced energy projects. Kilowatt Hour Consumption Per Capita Per Annum. Source: World Bank Luzon, Philippines Power Demand Supply Outlook – 2016- 2040 ENERGY WORLD CORPORATION LTD PG 7 Our Projects Projects Under Development: • Sengkang 2mtpa LNG (Indonesia) • Philippines 650MW Power and LNG Hub Terminal • Gilmore LNG Developed Projects: • Sengkang Gas & Power (Indonesia) • Alice Springs LNG and Gas Power • Cooper Basin Conventional Gas ENERGY WORLD CORPORATION LTD PG 8 We have developed a clear strategy to deliver a significant value uplift which unlocks as we complete the construction of our portfolio of SE Asian and Australian energy projects over the next 12 to 24 months 0 500 1000 1500 2000 2500 3000 3500 4000 4500 US$million Fixed Assets - 2000; 2013 - 2020 Philippines 450mw Power Plant Philippines LNG Hub Indonesian 2mtpa LNG Indonesian Power & Gas Australian Gas On Completion Value Uplift Construction Value Uplift US$1.5bn US$140m US$4bn+ Mid-2022 Mid-2022 Current Mid-2023 Mid-2022 Philippines Steam Turbine Extension Mid-2023 Present Book Value versus Potential Value on Completion Our Value Proposition ENERGY WORLD CORPORATION LTD PG 9 I ndones ian Pr oj ec t s : • S e n g k a n g G a s P r o d u c t i o n S h a r i n g C o n t r a c t ( P S C ) • S e n g k a n g P o w e r S t a t i o n • S e n g k a n g L N G ENERGY WORLD CORPORATION LTD PG 10 The Sengkang Production Sharing Contract (PSC) Block was recently extended to 2042 and covers 2,925 km 2 in South Sulawesi. Gas from the PSC is supplied to the 315 MW Sengkang Power Station. 2P reserves: 203 BCF Total gas in place: 7-9 TCF based on PT Lapi ITB studies Following the 20-year extension to the PSC, EWC has identified several opportunities to expand in Sengkang, supported by PT Lapi ITB estimates of 7- 9 TCF of gas in place Prospect/Lead Gas in Place (BCF) P10 P50 P90 Tacipi Prospect 1,778.72 1,567.46 1,376.77 Tacipi Lead 1,855.18 1,645.43 1,456.92 Walanae Lead 383.91 339.42 300.07 Malawa Lead 5,149.37 4,519.18 3,917.85 Total 9,167.18 8,071.40 7,051.61 Sengkang Gas Field ENERGY WORLD CORPORATION LTD PG 11 Capacity Block I: 135MW Block II: 180MW Total Output: 315MW (total rated output of 357 MW) Completion Date Block I = 1996, Block II = 2012 Location Sengkang South Sulawesi, Indonesia Performance Metric Trailing 3 year Avg. Availability Factor = 86.3% • Using gas produced from the Sengkang gas field the Sengkang Power Station produces 315 MW • Electricity is sold under a take or pay Power Purchase Agreement (“PPA”) with PLN which runs until October 2022. • Renewal negotiations have commenced. We expect it will be renewed for a significant period, using gas from the gas field to support this extension. Aerial view of Sengkang Power Plant Sengkang Power Plant ENERGY WORLD CORPORATION LTD PG 12 The Sengkang LNG Plant has a design capacity of 2 mtpa, consisting of 4 modular 500,000 tpa trains, an import/export and jetty facilities. Construction is 80% complete, having been delayed since 2017 due to land zoning claims which have since been fully resolved. Remobilisation work has commenced at site. Gas for the LNG plant will be purchased from the Sengkang gas field and the LNG will be sold to industrial users in the region, PLN for power generation and for City Gas. We also have a license to export LNG, subject to meeting domestic gas obligations, and this could be used to supply our Philippines Hub Terminal. Sengkang LNG ENERGY WORLD CORPORATION LTD PG 13 With an underlying gas resource estimated by PT Lapi ITB of 7-9 TCF gas in place; there are many opportunities for expansion Indonesia Growth Opportunities ENERGY WORLD CORPORATION LTD PG 14 Philippines Pr oj ec t s : • P a g b i l a o L N G H u b Te r m i n a l • 6 5 0 M W P o w e r P l a n t ENERGY WORLD CORPORATION LTD PG 15 Energy World has constructed the first LNG Hub Terminal in the Philippines, which will act as a hub for onward distribution of LNG throughout the Philippines. We are also developing a 650MW CCGT power plant at this site. Construction of the first 400MW is 80% complete Pagbilao Project Pagbilao 650MW CCGT Power Plant ENERGY WORLD CORPORATION LTD PG 16 Power Block 1 230 KV Line Power Block 2 • 650 MW Combined Cycle Gas Turbine Power Plant construction is significantly completed • Project developed in stages: • Block 1 - 200 MW gas turbine (85% complete) • Block 2 - 200 MW gas turbine (80% complete) • Block 3 - 250 MW steam turbine (foundations complete, equipment ready for delivery) • Completion of Block 1 is targeted to coincide with the commercial operation of the New Pagbilao Substation. Block 2 and 3 within 6 months thereafter • Plant will secure gas from EWC’s adjacent LNG hub terminal • Electricity will initially be sold into the Wholesale Electricity Spot Market (WESM) • There is sufficient land at site to expand our power generation capacity to cater to forecast growth in Philippine demand Pagbilao 650MW CCGT Power Plant ENERGY WORLD CORPORATION LTD PG 17 NGCP TAYABAS SUB-STATION NEW PAGBILAO SUBSTATION BY NGCP NGCP TAYABAS – NAGA TRANSMISSION LINE NGCP NAGA SUB-STATION PAGBILAO GRANDE ISLAND MAINLAND LUZON EWC TRANSMISSION LINE: 12 KM RIGHT OF WAY EWC 650MW CCGT PAGBILAO COAL SWITCH YARD EWC has signed a connection agreement and is proceeding with the land purchases associated with the 12km Right of Way needed to construct transmission facilities and connect EWC’s power station to the grid. Main grid access is to be secured once the National Transmission Corporation (Transco) and National Grid Corporation of the Philippines (NGCP) complete construction of the new Pagbilao Sub Station. Pagbilao Transmission Line Update ENERGY WORLD CORPORATION LTD PG 18 Pagbilao Transmission Line Update Ongoing survey works for the new 12km Transmission Line ENERGY WORLD CORPORATION LTD PG 19 Pagbilao Transmission Line Update Ongoing setting out and soil investigation work for the new 12km Transmission Line ENERGY WORLD CORPORATION LTD PG 20 Pagbilao Transmission Line Update Initial tower foundations completed for the new 12km Transmission Line ENERGY WORLD CORPORATION LTD PG 21 Pagbilao Transmission Line Update Ongoing progress at the NGCP New Pagbilao Sub Station ENERGY WORLD CORPORATION LTD PG 22 View of Jetty and Hub Terminal 130,000 m 3 LNG Hub Terminal is 90% completed Deep water jetty is capable of handling all sizes of LNG vessels Facility can handle a throughput of 3 MTPA of LNG with the 1st tank, which can support 3,000 MW of gas fired power generation This will support our adjacent 650 MW combined cycle gas fired power plant, and provide expansion options for both EWC and third party gas clients Hub Terminal to be run on a tolling model for third party clients EWC has laid the foundations for a second 130,000 m3 storage tank Strategically important asset for Philippines’ nascent gas industry Pagbilao: The Philippines First LNG Hub Terminal ENERGY WORLD CORPORATION LTD PG 23 Aus t r alian Pr oj ec t s : • E r o m a n g a G a s F i e l d s • G i l m o r e L N G ENERGY WORLD CORPORATION LTD PG 24 Australian domestic gas prices have increased significantly over the past few years. EWC’s 100% -owned gas fields have proven reserves and are connected by existing pipelines to the Australian market. Importantly, they also have existing gas processing facilities connected to pipelines. These facilities are currently being brought back online. In addition, we have previously commenced construction of a 56,000 TPA LNG facility utilising gas from petroleum lease PL65 Australia: Gasfields and LNG Thank You Delivering Clean and Green Energy to Asia

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