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Corporate Presentation January 2021 – Tellurian Inc.

Tellurian Inc. · Jan 1, 2021 · 28 slides

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Slides

  1. Corporate Presentation January 2021 – Tellurian Inc. – slide 1
    Corporate Presentation January 2021
  2. Corporate Presentation January 2021 – Tellurian Inc. – slide 2
    Tellurian value proposition (Nasdaq: TELL) Developing a global natural gas business around Driftwood LNG (DWLNG) Our business Driftwood LNG: a 27.6 mtpa LNG export terminal in Louisiana(1) Haynesville gas production: current asset…
  3. Corporate Presentation January 2021 – Tellurian Inc. – slide 3
    Driftwood plans to deliver LNG < 3.50/mmBtu Low capital cost, low operating cost, integrated JV Fully integrated low-cost project 1,000/tonne including LNG terminal, Driftwood pipeline and upstream gas Haynesville Haynesville gas…
  4. Corporate Presentation January 2021 – Tellurian Inc. – slide 4
    Positioned to deliver 5-7/sh of cash flow(1) Tellurian ownership structure Illustrative cash flow calculation to Tellurian 11.6 mtpa(2) mmBtu x 52 conversion Driftwood Holdings x 3.50 margin billion annual = 2.1 Production…
  5. Corporate Presentation January 2021 – Tellurian Inc. – slide 5
    Haynesville value rises with Henry Hub Price volatility also shows value of upstream integration Haynesville Shale & Tellurian acreage Rising Henry Hub prices call for additional supply /mmBtu U.S. Gulf Coast 4 = Tellurian…
  6. Corporate Presentation January 2021 – Tellurian Inc. – slide 6
    Higher prices supported by structural factors Improved gas infrastructure Global commodity prices penetration increases demand /mmBtu China Increased industrial demand from 35 economic recovery 30 Government policy to support…
  7. Corporate Presentation January 2021 – Tellurian Inc. – slide 7
    Forward natural gas prices rise globally Asian LNG JKM forward curve European natural gas TTF forward curve /mmBtu /mmBtu 18 12 12 2-year forward price 2-year forward price 10 +26% since April 10 +22% since April 8 8 6 6…
  8. Corporate Presentation January 2021 – Tellurian Inc. – slide 8
    Asian LNG demand grew 17% y/y China/India/JKT (Japan-Korea-Taiwan) LNG imports up 36%/11%/9%, respectively, year-over-year in December 2020 Chinese LNG imports Indian LNG imports JKT LNG imports million tonnes/month million…
  9. Corporate Presentation January 2021 – Tellurian Inc. – slide 9
    Entering 5-year starvation; expect rising price Global liquefaction capacity additions (mtpa) 30 mtpa capacity additions 146 mtpa capacity additions 61 mtpa capacity additions Limited capacity additions(1) 1.6% per annum 8.3% per…
  10. Corporate Presentation January 2021 – Tellurian Inc. – slide 10
    Driftwood LNG progress & catalyst roadmap Fully- Major Premier site wrapped EPC permits Financing Construction contract secured 2021 value creation catalysts Driftwood LNG is shovel LNG market recovery Commercial progress Phase…
  11. Corporate Presentation January 2021 – Tellurian Inc. – slide 11
    Key investment highlights Driftwood LNG is shovel ready, major permits secured Engineering 30% complete, 150 mm invested in EPC Phase I low-cost capital of 1,000/tonne LNG delivered FOB U.S. Gulf Coast < 3.50/mmBtu to maximize…
  12. Corporate Presentation January 2021 – Tellurian Inc. – slide 12
    Contact us Matt Phillips Social media Director, Investor Relations & Finance +1 832 320 9331 TellurianLNG matthew.phillipstellurianinc.com Johan Yokay Manager, Investor Relations & Finance +1 832 320 9327…
  13. Corporate Presentation January 2021 – Tellurian Inc. – slide 13
    Appendix: Driftwood LNG Project & Financial Details 14
  14. Corporate Presentation January 2021 – Tellurian Inc. – slide 14
    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 Artist rendition…
  15. Corporate Presentation January 2021 – Tellurian Inc. – slide 15
    Driftwood expects to deliver LNG FOB at < 3.50/mmBtu Integrated operations deliver lower costs Gas sourcing 2.00/mmBtu < 0.75/mmBtu LNG < 3.50/mmBtu plant + pipeline(1) Average cost on the water Debt service(2) <…
  16. Corporate Presentation January 2021 – Tellurian Inc. – slide 16
    Driftwood LNG and pipeline capital for Phase I in billions, unless otherwise noted Uses ( bn) Sources ( bn) Driftwood LNG terminal 10.6 Driftwood partner equity 6.0 Owners cost(1) 1.8 Tellurian pre-FID work contribution 0.6…
  17. Corporate Presentation January 2021 – Tellurian Inc. – slide 17
    Bechtel LSTK secures project execution Driftwood EPC contract costs ( per tonne) 710 Increase from price refresh Leading LNG EPC contractor 560 44 LNG trains delivered to 18 500 510 customers in 9 countries 390 30% of global LNG…
  18. Corporate Presentation January 2021 – Tellurian Inc. – slide 18
    Value to Tellurian Inc. Every 1.00 reduction in gas costs or increase in LNG price adds 1.60/share in cash flow in 5-plant case Base case 3 Plants 5 Plants USGC netback Cost of LNG(1) Margin Cash flows(2)(3) (/mmBtu) (/mmBtu)…
  19. Corporate Presentation January 2021 – Tellurian Inc. – slide 19
    Returns to Driftwood Holdings partners U.S. Gulf Coast netback price (/mmBtu) 5.00 7.00 9.00 11.00 Driftwood LNG, FOB U.S. Gulf Coast (3.50) (3.50) (3.50) (3.50) (/mmBtu) Margin 1.50 3.50 5.50 7.50 (/mmBtu) Annual partner…
  20. Corporate Presentation January 2021 – Tellurian Inc. – slide 20
    Unmatched LNG development experience Tellurians management team has 80 years of combined LNG development experience globally Charif Souki 79 mtpa Executive Chairman of the Board Co-founder of Tellurian Founded Cheniere in…
  21. Corporate Presentation January 2021 – Tellurian Inc. – slide 21
    Appendix: LNG & ESG 22
  22. Corporate Presentation January 2021 – Tellurian Inc. – slide 22
    Global energy needs require natural gas The shifting landscape of energy consumption Drivers of shifting landscape 8 Tonnes oil equivalent/capita 35% 31% Non-OECD energy consumption growth rate was 7 30% 13x that of OECDs over the…
  23. Corporate Presentation January 2021 – Tellurian Inc. – slide 23
    China & India: 90 mtpa growth potential LNG demand growth (2019-2025) Key growth drivers mtpa Infrastructure: 2x growth in Indias pipeline grid by 2025 2x growth in Indias regas capacity by 2025 1.5x growth in Chinas pipeline grid…
  24. Corporate Presentation January 2021 – Tellurian Inc. – slide 24
    Indias targets suggest even higher gas use India natural gas demand primary sources Indias gas demand drivers mtpa Prime Minister Modi has set a target of 15% for Incremental supply required for 15% target (1) natural gas share of…
  25. Corporate Presentation January 2021 – Tellurian Inc. – slide 25
    India is rapidly building out gas infrastructure Sharp increase in LNG and gas-related infrastructure will tap into significant latent gas demand Indias emerging regas & gas transport infrastructure Indias regasification capacity…
  26. Corporate Presentation January 2021 – Tellurian Inc. – slide 26
    New Asian markets grow 41 mtpa by 2025 Emerging markets could add the equivalent of another South Korean market by 2025 LNG demand by region Bangladesh, Malaysia, Pakistan, Thailand: mtpa 32% gas market penetration, declining 600…
  27. Corporate Presentation January 2021 – Tellurian Inc. – slide 27
    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…
  28. Corporate Presentation January 2021 – Tellurian Inc. – slide 28
    LNGs role in the energy transition Today: Reduce carbon intensity, improve air quality Future: Net zero carbon emissions Increasingly cost-competitive with coal Reduces carbon emissions by up to 50% Reduces SOx, NOx and particulate…

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