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Freehold Royalties Ltd
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Winter 2024 Investor Presentation
| David Spyker | Page 4 of 11 |
May 11, 2024
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"Winter 2024 Investor Presentation"
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TSX FRU 4 Acquisitions Summary ? Announced agreements to acquire US Midland and Delaware Basin Assets (the “Acquired Assets”) for CAD$112 million (the “Acquisition”) ? Adds ~123,000 gross acres concentrated in the core of the Permian basin, positioning Freehold to capture the highest quality drilling activity ? Adds ~2,000 inventory locations, increasing Freehold proforma US inventory by 25% ? Proforma, one in every seven wells drilled in the Midland basin of the Permian will have occurred on Freehold’s lands ? Top tier operators (Exxon/Pioneer, Marathon, Endeavor, Diamondback) are ~75% of net development associated with the Acquisition ? Proforma, Exxon/Pioneer become a top 5 payor for Freehold ? Acquired Assets are forecasted to average 2024 production of 600 boe/d, generating funds from operations of approximately $15 million (strip pricing) ? Acquired Assets funded through existing credit line Acquired Assets FRU US Pro Forma Gross Acres 123,000 1,050,000 Net Royalty Acres 2,670 46,000 Inventory (gross/net) 2,000/4.6 10,400 / 47.9 % Core & Tier 1 81 70 # of Rigs 7 29 Pro Forma WINTER 2024 |