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Ithaca Energy Inc
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H1 2022 Results Presentation
| Alan Bruce | Page 16 of 11 |
May 11, 2024
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"H1 2022 Results Presentation"
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Liquidity overview 625 625 625 625 620 305 78 200 590 Net Debt 30 Sept. 2021 Net Debt 31 Dec. 2021 Net Debt 31 Mar. 2022 Net Debt 30 Jun. 2022 Notes: 1. Net debt equates to drawings under the RBL plus senior notes less cash (excludes letters of credit and surety bonds) 2. As at 30 June 2022 (includes additional debt and cash acquired as part of the Summit and Siccar acquisitions) Senior Notes Nordic Bond • Prudent financial framework underpinned by low leverage, high liquidity and capital discipline • Increase in Net Debt at 30 June 2022 primarily due to RBL drawdown of $750MM to fund the Summit and Siccar Point acquisitions ($590m presented opposite is a net off $160m cash) • Material liquidity headroom of c. 270MM as at 30 June 2022 • $200m Nordic Bond acquired through Siccar Point. $166m of the Bond was subsequently called on change of control put option which was paid in July 2022 • $100m of RBL drawdown scheduled to be repaid by the end August 2022 RBL Facility Banks LTM leverage 1, 2 1 1 1 16 1.5x 0.9x 0.6x 0.9x RBL (less cash)