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May 2019 Corporate Presentation – Tellurian Inc.

Tellurian Inc. · May 2, 2019 · 29 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. May 2019 Corporate Presentation – Tellurian Inc. – slide 1
    Corporate presentation May 2019
  2. May 2019 Corporate Presentation – Tellurian Inc. – slide 2
    Experience matters to deliver value 550 50% 0.50 8 per tonne of Tellurian /mmBtu CF/share Fully wrapped LSTK EPC Is owned by founders, Price of natural gas in West Projected annual cash flow to Total S.A. expected to be first…
  3. May 2019 Corporate Presentation – Tellurian Inc. – slide 3
    Final FERC permit complete Artist rendition Received in April 2019 final FERC order granting authorization to construct and operate the Driftwood LNG terminal and pipeline 4
  4. May 2019 Corporate Presentation – Tellurian Inc. – slide 4
    Bechtel LSTK secures project execution Driftwood EPC contract costs ( per tonne) 700 Leading LNG EPC contractor 550 44 LNG trains delivered to 18 customers 490 500 in 9 countries 380 30% of global LNG liquefaction capacity (125…
  5. May 2019 Corporate Presentation – Tellurian Inc. – slide 5
    Best team in the business Our combination of talents sets us apart from every other developer. Our leadership is underpinned by a team with unmatched experience. 79 mtpa, our team is responsible for over 50 Our team has…
  6. May 2019 Corporate Presentation – Tellurian Inc. – slide 6
    Sourcing low-cost gas from multiple basins Developing supply network to Access to low-cost gas access gas from lowest-cost basins from growing Appalachia and Midcontinent basins Direct connection to both the Haynesville shale and…
  7. May 2019 Corporate Presentation – Tellurian Inc. – slide 7
    Depressed West Texas gas prices to persist West Texas gas prices now sit on a razors edge with no long-term relief in sight Bcf/d More pain is on the way /mmBtu A new normal for 16 3.00 Waha gas prices(1) 14 1.00 12 New firm…
  8. May 2019 Corporate Presentation – Tellurian Inc. – slide 8
    Tellurian projects annual 8 cash flow/sh(1) Integrated model to produce low- Partners 100% cost LNG on the water (7 billion in equity) Variable and operating costs 51% Equity ownership 49% expected to be 2.50- 3.00/mmBtu FOB 1…
  9. May 2019 Corporate Presentation – Tellurian Inc. – slide 9
    Driftwood Holdings financing 2-Plant Case 3-Plant Case Full Development Capacity (mtpa) 11.0 16.6 27.6 Capital investment ( billions) Liquefaction terminal(1) 7.6 10.3 15.2 Owners cost & contingency(2) 1.1 1.5 1.9 Driftwood…
  10. May 2019 Corporate Presentation – Tellurian Inc. – slide 10
    Value to Tellurian Inc. USGC Cost of 2 Plants 3 Plants 5 Plants Margin netback LNG(1) Cash flows(2)(3)(4) (/mmBtu) (/mmBtu) (/mmBtu) millions ( per share) Tellurian 5.0 mtpa 6.6 mtpa 13.6 mtpa capacity 6.00 4.50 1.50 190 (0.71)…
  11. May 2019 Corporate Presentation – Tellurian Inc. – slide 11
    Final Investment Decision expected in 2019 Milestone Target date Fully-wrapped EPC contract November 2017 Draft FERC EIS September 2018 Final FERC EIS January 2019 Key regulatory agency approval to export LNG Final FERC Order…
  12. May 2019 Corporate Presentation – Tellurian Inc. – slide 12
    Contact us Amit Marwaha Social media Director, Investor Relations & Finance +1 832 485 2004 TellurianLNG amit.marwahatellurianinc.com Joi Lecznar SVP, Public Affairs & Communication +1 832 962 4044…
  13. May 2019 Corporate Presentation – Tellurian Inc. – slide 13
    Appendix 14
  14. May 2019 Corporate Presentation – Tellurian Inc. – slide 14
    Key investment highlights Regulatory Experienced Fixed-cost EPC Access to low- Commercial certainty management contract cost natural gas momentum Received final Management Guaranteed Expect Permian Total S.A. FERC order in track…
  15. May 2019 Corporate Presentation – Tellurian Inc. – slide 15
    Steps towards final investment decision 2019 FID Final investment decision Debt/project finance terms Draw equity and debt Final contracts capital Equity Negotiate partners Launch agreements commit to construction Binding…
  16. May 2019 Corporate Presentation – Tellurian Inc. – slide 16
    Looming challenge of U.S. gas oversupply U.S. natural gas must be exported Legend 2018-2025: Operating/under construction LNG +7 Future infrastructure required +22 Bcf/d total gas supply growth(1) +X Incremental gas supply by 2025…
  17. May 2019 Corporate Presentation – Tellurian Inc. – slide 17
    Global LNG capacity call: 100-250 mtpa mtpa Global LNG capacity outlook Capacity required(1) 800 9.3% p.a. growth rate 700 250 mtpa 9.3%(2) 600 5.0%(3) 100 mtpa 500 Under construction 400 300 In operation 200 100 0…
  18. May 2019 Corporate Presentation – Tellurian Inc. – slide 18
    Total expected to be first equity partner at 500 per tonne Potential partner Proposed off-take Proposed volume Credit rating(1) Equity investor 1.0 mtpa A+/Aa3/AA- Driftwood project Baa2 Equity investor Under review…
  19. May 2019 Corporate Presentation – Tellurian Inc. – slide 19
    Tellurian signs agreements with Total Heads of Agreement (HOA) with Total Project advancement Total Delaware, Inc. (Total) signs HOA to make Tellurian Marketing to purchase an equity interest(2) 500 million equity investment in…
  20. May 2019 Corporate Presentation – Tellurian Inc. – slide 20
    Commercial momentum to 3-plant FID Driftwood Holdings volume Tellurian Marketing volume mtpa mtpa (2) (1) Total Purchased 1.5 2.0 (4) Vitol 1.5 Petronet(3) Retained 4.6 Remaining 3.6 (2) (1) Tellurian Contracted…
  21. May 2019 Corporate Presentation – Tellurian Inc. – slide 21
    Driftwood Holdings operating costs 4.50 (1) Debt 1.50 3.50 Updates: Replace or substitute 1.00 amortizing debt for Liquefaction 0.75 interest-only debt Contingency 0.50 Improved operating 0.22 0.15 outlook at Gathering,…
  22. May 2019 Corporate Presentation – Tellurian Inc. – slide 22
    Returns to Driftwood Holdings partners U.S. Gulf Coast netback price (/mmBtu) 6.00 8.00 10.00 15.00 Driftwood LNG, FOB U.S. Gulf Coast (3.50) (3.50) (3.50) (3.50) (/mmBtu) Margin (/mmBtu) 2.50 4.50 6.50 11.50 Annual partner cash…
  23. May 2019 Corporate Presentation – Tellurian Inc. – slide 23
    Owning infrastructure mitigates risk Tolling model SPA model Equity model Customer incurs risk Developer incurs risk Own the infrastructure Competition between customers Developer consolidates pipeline True cost control and for…
  24. May 2019 Corporate Presentation – Tellurian Inc. – slide 24
    Integrated to manage three risks Basin Basis Construction 10,800 Haynesville acres 7 billion of pipeline projects, 15 billion liquefaction 1.4 Tcf of resource providing access to Haynesville, project in Louisiana Intend to…
  25. May 2019 Corporate Presentation – Tellurian Inc. – slide 25
    Driftwood LNG terminal Driftwood LNG terminal Land 1,000 acres near Lake Charles, LA Capacity 27.6 mtpa Up to 20 trains of 1.38 mtpa each Trains Chart heat exchangers GE LM6000 PF+ compressors 3 storage tanks Storage 235,000…
  26. May 2019 Corporate Presentation – Tellurian Inc. – slide 26
    Construction budget breakdown (1) Owners' costs Equipment and materials 12% 24% Contingency and provisional 24% sums (2) 17% Direct labor 24% Overhead (mostly labor) Notes: Based on Driftwood LNG full development. (1)…
  27. May 2019 Corporate Presentation – Tellurian Inc. – slide 27
    Bringing low-cost gas to SW Louisiana 1 Driftwood Pipeline(1) Capacity (Bcf/d) 4.0 Cost ( billions) 2.2 Length (miles) 96 Diameter (inches) 48 Compression (HP) 274,000 Status FERC approval complete 2 Haynesville Global Access…
  28. May 2019 Corporate Presentation – Tellurian Inc. – slide 28
    100 Tcf available resources in Haynesville Driftwood Holdings plans to fund and purchase 15 Tcf Potential Target size: acquisition targets: Range of resources per target (Tcf)(1): Large 15 Tcf 15 Medium 9 to 15 Tcf 9 15…
  29. May 2019 Corporate Presentation – Tellurian Inc. – slide 29
    Building momentum to FID in 2019 September February December Feb/March June February April Management, Merge with Raise Announce Raise Announce Driftwood friends and Magellan approximately open seasons approximately MOU for LNG…

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