DANA GAS (DANA) Corporate Presentation summary

Financial highlights

• Net profit for 2024 was $151 million, a 6% decrease due to lower Egypt production and prices; excluding a one-off impairment, net profit rose 15% to $184 million.

• Revenue increased 5% to $445 million, driven by improved terms in Egypt's new Consolidation Agreement.

• EBITDA for 2024 reached $263 million, with a three-year accumulated EBITDA of $852 million.

• Cash balance at year-end was $317 million, with $235 million held at Pearl Petroleum; corporate debt reduced to $28 million.

• Board recommends a 5.5 fils dividend for 2024, to be paid in May.

Operational performance

• Group production averaged 54,850 boepd in 2024, down 7% from 2023; KRI production rose 4% while Egypt fell 25%.

• KRI assets produced 38,400 boepd in 2024, with record output of 520 MMscf/d in November.

• Egypt production was 16,450 boepd, with proactive management slowing natural decline rates.

• Pearl Petroleum’s KM250 expansion project resumed construction in December 2024, targeting first gas in Q2 2026.

• KRI operations remained uninterrupted despite regional export issues, with all products consumed locally.

Strategic initiatives and growth

• Egypt Consolidation Agreement signed in December 2024, improving fiscal terms and extending asset life.

• $100 million multi-year investment program in Egypt launched, aiming to increase gas recovery by 80 bcf.

• Pearl raised $350 million via bond to fund KM250, ensuring capital for expansion.

• New payment mechanism in KRI ensures timely payments and reduced receivables.

• Long-term plan to increase KRI production to 1 bscf/d, 30,000 bbl/d condensate, and 1,200 MTPD LPG.