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July 2019 Corporate Presentation – Tellurian Inc.

Tellurian Inc. · Jul 10, 2019 · 29 slides

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Slides

  1. July 2019 Corporate Presentation – Tellurian Inc. – slide 1
    Corporate presentation July 2019
  2. July 2019 Corporate Presentation – Tellurian Inc. – slide 2
    Corporate updates 3
  3. July 2019 Corporate Presentation – Tellurian Inc. – slide 3
    Recent milestones and key corporate updates Converted HOA with Total into finalized definitive agreements for 2.5 mtpa of LNG Total to purchase 1 mtpa of LNG for 500 million equity investment in Driftwood Entered into SPA for…
  4. July 2019 Corporate Presentation – Tellurian Inc. – slide 4
    Business overview 5
  5. July 2019 Corporate Presentation – Tellurian Inc. – slide 5
    Key investment highlights Tellurian developing 30 billion of assets to generate 8 cash flow per share annually Experienced World-class Fixed-cost EPC Unique business Commercial management partners contract model momentum…
  6. July 2019 Corporate Presentation – Tellurian Inc. – slide 6
    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…
  7. July 2019 Corporate Presentation – Tellurian Inc. – slide 7
    Permian gas to drive U.S. LNG export growth Permian oil drilling activity expected to double Permian gas production from 2018 to 2025 Permian oil and gas production forecast mmboe/d 12 Dry gas 19 bcf/d 2025E Permian dry gas…
  8. July 2019 Corporate Presentation – Tellurian Inc. – slide 8
    U.S. LNG exports vital to global oil supply Permian oil production Source of supply for 2017-2025E oil growth 8 mmbo/d RoW 15% Dry gas 3 mmbo/d Crude oil Permian 85% 2017-2025E global oil growth = 6 mmbo/d 2017…
  9. July 2019 Corporate Presentation – Tellurian Inc. – slide 9
    U.S. must export 30 bcf/d of LNG by 2025 including an additional 20 bcf/d of LNG export capacity over firm capacity U.S. natural gas export requirements 29 bcf/d 20 bcf/d additional U.S. LNG export capacity required(1) 150…
  10. July 2019 Corporate Presentation – Tellurian Inc. – slide 10
    Henry Hub will be at a premium without pipeline infrastructure Henry Hub is forecasted to be the highest priced source of gas in the Gulf Coast 2023 forecasted discount to Henry Hub Southwest Louisiana firm demand 19 bcf/d…
  11. July 2019 Corporate Presentation – Tellurian Inc. – slide 11
    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…
  12. July 2019 Corporate Presentation – Tellurian Inc. – slide 12
    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…
  13. July 2019 Corporate Presentation – Tellurian Inc. – slide 13
    Driftwood LNGs ideal site for exports Access to pipeline infrastructure Access to power and water Support from local communities Site size over 1,000 acres Insulation from surge, wind, and local populations Berth over 45…
  14. July 2019 Corporate Presentation – Tellurian Inc. – slide 14
    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…
  15. July 2019 Corporate Presentation – Tellurian Inc. – slide 15
    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…
  16. July 2019 Corporate Presentation – Tellurian Inc. – slide 16
    Commercial momentum to 3-plant FID Driftwood Holdings volume Tellurian marketing volume mtpa mtpa (1) Total S.A. Purchased 1.5 2.0 (3) Vitol 1.5 Petronet(2) Retained 4.6 Remaining 3.6 (1) Tellurian Contracted…
  17. July 2019 Corporate Presentation – Tellurian Inc. – slide 17
    Growing list of expected partners and customers Partner Off-take Volume Credit rating(3) Equity investor 1.0 mtpa A+/Aa3/AA- Driftwood project Baa2 Equity investor(1) Under review (Moodys) JKM linked 1.5 mtpa A+/Aa3/AA-…
  18. July 2019 Corporate Presentation – Tellurian Inc. – slide 18
    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…
  19. July 2019 Corporate Presentation – Tellurian Inc. – slide 19
    Value to Tellurian Inc. Every 1.00 reduction in gas costs or increase in LNG price adds 2.66/share in 5 plant case USGC Cost of 2 Plants 3 Plants 5 Plants Margin netback LNG(1) Cash flows(2)(3)(4) (/mmBtu) (/mmBtu) (/mmBtu)…
  20. July 2019 Corporate Presentation – Tellurian Inc. – slide 20
    Ability to deliver low-cost LNG on the water 4.50/mmBtu Optimistic case Replace or substitute amortizing bank debt (1) Debt 1.50 3.50/mmBtu for interest-only bonds Improved operating 1.00 outlook at liquefaction plant…
  21. July 2019 Corporate Presentation – Tellurian Inc. – slide 21
    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 Final FERC Order April 2019 Executed suite of partnership DOE…
  22. July 2019 Corporate Presentation – Tellurian Inc. – slide 22
    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…
  23. July 2019 Corporate Presentation – Tellurian Inc. – slide 23
    Appendix 24
  24. July 2019 Corporate Presentation – Tellurian Inc. – slide 24
    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…
  25. July 2019 Corporate Presentation – Tellurian Inc. – slide 25
    Driftwood vs. competitors cost per tonne Capacity, mtpa 27.6 31.2 10.0 16.5 14.0 9.0 15.6 9.0 8.9 5,025 4,144 3,774 (2) 2,657 2,214 (1) 1,603 1,654 1,270 1,428 Driftwood Qatar New Mozambique Yamal LNG Canada APLNG…
  26. July 2019 Corporate Presentation – Tellurian Inc. – slide 26
    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…
  27. July 2019 Corporate Presentation – Tellurian Inc. – slide 27
    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…
  28. July 2019 Corporate Presentation – Tellurian Inc. – slide 28
    Environmental and social leadership Driftwood LNG project expected to reduce lifecycle carbon emissions and support local communities Lifecycle emission reduction Sustainable development Social engagement Provide an outlet for…
  29. July 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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