NewMed Energy (NWMD) BofA Emerging Markets Corporate Conference 2026 presentation summary

Portfolio and positioning

• Full-chain E&P portfolio spans exploration, development and production, with a strategic shift from domestic operations to regional scale and global expansion.

• TA-35-listed limited partnership with a market capitalization of ~$7B; financial strength is based on cash flow and asset value.

Leviathan and commercial model

• Ownership: 45.3% NewMed Energy, 15% Ratio and 39.7% Chevron Corp. as operator; 2P reserves at Dec. 31, 2025 were 19.5 tcf (553 bcm) and 43 mmbbl condensate.

• Cumulative production since start-up was 2.2 tcf (62.9 bcm) and 5 mmbbl condensate; expansion is planned to lift capacity from 1.4 bcf/d to 2.1 bcf/d.

• Long-term sales contracts use take-or-pay commitments and limited commodity-price exposure; Egypt volumes are shown at 4.7 bcm/y currently, 6.7 bcm/y in 2026 and 12.5 bcm/y in 2030, with interruptible volumes.

Regional growth and development

• Egyptian gas-market deficit is projected at 40–50 bcm/y by the end of the decade; Israeli domestic demand is expected to rise by 5.3 bcm by 2035.

• Planned export routes target total Leviathan export capacity of 1,625 mmcf/d: 650 mmcf/d via EMG debottlenecking in 3Q 2026, 725 mmcf/d via FAJR compression in 2H 2026, and 250 mmcf/d via Nitzana in 4Q 2028.

• Leviathan expansion includes three wells, subsea infrastructure and two new platform processing trains; budget is ~$2.4B at 100% project interest.

• Aphrodite has 3.53 tcf (100 bcm) of 2C resources, planned capacity of 800 mmcf/d and ownership of 30% NewMed Energy, 35% Shell and 35% Chevron Corp.; project is at FEED, with an MOU for sale of all producible gas.