+ Transformative Merger with Independence June 2021 +
Disclaimer (Contd) Important Additional Information In connection with the proposed Transaction, IE PubCo Inc., a wholly owned subsidiary of the Company (NewCo), will file with the U.S. Securities and Exchange Commission (SEC) a…
Transaction Overview Combined company will have an initial market cap and TEV of 4.8 Bn and 5.7 Bn (1) All stock transaction Transaction Structure Pro forma net debt of 935 MM (2) Pro forma ownership of 76% Legacy Independence and…
Transaction is Accretive to Strategy and Financial Metrics Provides significant combined scale with greater access to and lower cost of capital Positions the company to be a leading consolidator in the US Substantially…
The Pro-Forma Company at a Glance Diversified, Well-Capitalized U.S. Independent Oil and Gas Company With Consistent Strategy Since 2011 Key Portfolio Attributes Current Operations Across the L48 Independence Basin Footprint 1. Strong…
Creating a Differentiated E&P Company Accretive Transaction for Contango Shareholders Creates Company Uniquely Positioned in Market + 1 2 Aligned Management with Investor Mindset P 3 Sustainable Free Cash Flow P 4 Significant…
Aligned Management with Investor Mindset Uniquely aligned management team with high insider ownership and innovative performance-based incentive structure Independence Management Team Continued Partnership with Like-Minded…
Significant and Sustainable Free Cash Flow Generation Low Decline Disciplined Preliminary 2022E Estimates Diversified production Capital Spend Daily Production 108 114 MBoe/d with 18% base Historical reinvestment 2022E Base Decline 15%…
Operational Excellence at Scale Balanced portfolio of cash flowing assets and attractive, low-risk reinvestment opportunities in key proven basins across the Lower 48 Q1 2021 Production YE 2020 SEC Reserves Current Operations By…
Well Positioned to Be a Leading Oil & Gas Consolidator Competitive Advantages Divestiture Programs Subscale Companies Differentiated business model of Majors and Large- With Market Cap of Cap…
ESG Commitment Shared commitment to developing industry-leading Environmental, Social, and Governance (ESG) programs and continually improving ESG performance Commitment to ESG Leadership Work to reduce greenhouse gas emissions…
Disciplined Financial and Risk Management Approach Commitment to Target investment grade credit metrics Low Leverage Long-term target leverage at or below 1.0x Returns Focused Disciplined reinvestment of a portion of cash flow…
Well-Capitalized Balance Sheet Investment grade credit Preliminary Net Debt / metrics and increased scale EBITDA of proved reserves, 1.0x Long-Term 1.4x Leverage Target production, EBITDA and free 1.3x cash flow No near-term…
Pro Forma Company Compares Favorably to Peers 2021E Base Decline Estimates 2021E 2022E Cumulative Reinvestment Rate(1) Peer-leading base decline rates provide visibility and which reduces re-investment requirements and predictability to…
Why Own the Combined Company + Aligned Management with Investor Mindset Sustainable Free Cash Flow Significant Scale Across Proven Basins Well Positioned to be a Leading Oil & Gas Consolidator Commitment to ESG Excellence…
Appendix: Pro Forma Management Team Bios David Rockecharlie (Chief Executive Officer) David Rockecharlie joined KKR in 2011 and is a Partner and Head of KKR's Energy Real Assets business. Mr. Rockecharlie serves as Chairman of KKRs…
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