Presentation to Investors & Analysts For the period ended June 30 - - PowerPoint PPT Presentation

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Presentation to Investors & Analysts For the period ended June 30 - - PowerPoint PPT Presentation

Presentation to Investors & Analysts For the period ended June 30 th , 2020 1 Disclaimer From time to time, Transnational Corporation of Nigeria Plc (Transcorp) and its subsidiaries (the Group) make written and/or oral forward-


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Presentation to Investors & Analysts

For the period ended June 30th, 2020

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Disclaimer

  • From time to time, Transnational Corporation of Nigeria Plc (“Transcorp”) and its subsidiaries (“the Group”) make written and/or oral forward-

looking statements in presentations (including this presentation) and other communication. In addition, representatives of the Group may make forward-looking statements orally to analysts, investors, the media and others. All such statements are intended to be forward looking

  • statements. Forward looking statements include, but are not limited to, statements regarding the Group’s objectives and priorities for 2020,

and beyond and strategies to achieve them, and the Group’s anticipated financial performance. Forward looking statements are typically identified by words such as “will”, “should”, “believe”, “expect”, “anticipate”, “intend”, “estimate”, “may”, “project” and “could”.

  • By their very nature, these statements require the Group to make assumptions and are subject to inherent risks and uncertainties, general and
  • specific. In the light of uncertainties related to the financial, economic and regulatory environments, such risks and uncertainties – many of

which are beyond the Group’s control and the effects of which are difficult to predict – may cause actual results to differ materially from the expectations expressed in the forward-looking statements. Risk factors that could cause such differences include, exchange rate, market exchange, and interest rate, operational, reputational, insurance, strategic, regulatory, legal, environmental, and other risks. All such factors should be considered carefully, as well as other uncertainties and potential events, and the inherent uncertainty of forward-looking statements, when making decisions with respect to the Group and we caution readers not to place undue reliance on the Group’s forward- looking statements.

  • Any forward looking statements contained in this presentation represent the views of management only as at the date hereof and are

presented for the purpose of assisting the Group’s investors and analysts in understanding the Group’s financial position, objectives and priorities and anticipated financial performance as at and for the periods ended on the dates presented, and may not be appropriate for

  • ther purposes. The Group does not undertake to update any forward-looking statements, whether written or oral, that may be made from

time to time by or on its behalf, except as required under applicable securities legislation.

  • The information used in this presentation were obtained from several sources that the Group believes are reliable. Whilst Transcorp has taken

all reasonable care to ensure the accuracy of the information herein, neither Transcorp nor any of its subsidiaries/affiliates makes representation or warranty, express or implied, as to the accuracy and correctness of the information. Thus, users are hereby advised to exercise caution in attempting to place reliance on these information and carry out further research or seek the opinion of professional advisers before reaching conclusions regarding their investment decisions.

www.transcorpnigeria.com

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www.transcorpnigeria.com

Presentation Outline

Overview Operating Environment Group Financial Performance Segment Review Outlook

COVID-19 Response & Intervention

04 10 13 16 33 37

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Overview

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www.transcorpnigeria.com

About Transcorp

A diversified conglomerate…

Listed Company with approximately 300,000 Shareholders with commanding presence in the Power, Oil & Gas and Hospitality sectors. With an Aggressive Growth Agenda With a Purpose of Improving Lives, Transforming Nigeria Deeply rooted values are the 3Es of Execution, Enterprise and

Excellence

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Our Investment Philosophy

Guided by a sound investment philosophy

Long-term Shareholder Returns Socio-economic Impact

Operational Efficiency Return on Investment Corporate Governance Growth Capacity

www.transcorpnigeria.com

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www.transcorpnigeria.com

The Group at a Glance

Transcorp is committed to creating value and making socio-economic impact

With eyes set on generating 25% of the total power requirement in Nigeria, Transcorp Power Limited remains a leader in the Nigerian power sector. Through ownership of choice assets and provision of exceptional service, Transcorp Hotels Plc is redefining hospitality standards in the continent while remaining truly African. We are on a mission to ramp up domestic upstream capacity.

…in strategic sectors of the economy

  • c.972MW installed capacity gas fired power

plant

  • Current available capacity of approximately

500 MW expected to increase rapidly

  • Medium term capacity target of 2,500MW
  • Transcorp

Hilton Abuja: Nigeria’s foremost hotel and the leading business hotel in Africa - 670 rooms, 5 hotel

  • Transcorp

Hotels Calabar – 132 rooms, 3 hotel

  • Expansion through asset-light strategy
  • Owner/operator of OPL 281 oil block
  • Estimated Oil Reserve – 189.73mn
  • Gas – 377.48Bn Std Cubic Feet
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POWER ▪ Deepen

  • ur

power business through acquisition of additional power plants. ▪ Emerged preferred bidder for AFAM power plant. ▪ Membership into the West African Power Pool (WAPP). ▪ Explore

  • pportunistic

investments in renewable energy and off-grid solutions. HOSPITALITY: ▪ Deepen operational efficiency. ▪ Sweat existing assets. ▪ Completion

  • f

the

  • ver

$100million upgrade of Transcorp Hilton Abuja ▪ Issuance of Certificate of Discharge by the National Council on Privatisation ▪ Expand into new businesses and locations. OIL AND GAS: ▪ Commence production of oil and gas in OPL 281. ▪ Acquire new oil & gas assets.

Our Journey

www.transcorpnigeria.com

Our achievement milestones speak volumes

PHASE ONE 2004 - 2011 PHASE THREE 2019 - 2025 PHASE TWO 2012 - 2018 ▪ 2004: Incorporation

  • f

Transcorp. ▪ 2005: Acquisition of Transcorp Hilton Abuja. ▪ 2006: Listing on the Nigerian Stock Exchange. ▪ 2006: Emerged winner

  • f

OPL281 Bid ▪ 2010: Acquisition of Transcorp Hotels Calabar. ▪ 2011: Heirs Holdings becomes core investor. ▪ 2012: Transcorp Ughelli Power emerges preferred bidder for Ughelli Power Plc (UPP). ▪ 2013: Successful takeover of UPP. ▪ 2013: Execution

  • f

management agreement with Hilton for Transcorp Hilton Ikoyi. ▪ 2014: Execution of Production Sharing Contract on OPL 281. ▪ 2014: Execution

  • f

Management Agreement for Transcorp Hilton Port Harcourt. ▪ 2014: Issuance of Transcorp Hotels IPO. ▪ 2014: NSE Awards Transcorp the Most Compliant Firm in Nigeria. ▪ 2015: Issuance of Transcorp Hotels N20bn bond. ▪ 2015: Merger

  • f

Transcorp Ughelli Power Limited and UPP as Transcorp Power Ltd. ▪ 2016: Commencement of full Upgrade Project for Transcorp Hilton Abuja. ▪ 2017: Commission of GT15 a 115MW Gas Turbine by Transcorp Power. ▪ 2017: Decision to divest from Teragro Fruit juice concentrate plant. ▪ 2018: Year-end closure with highest profits in two Group companies. ▪ 2018: Conclusion of additional land acquisition for Transcorp Hilton Ikoyi. ▪ 2018: TPL surpasses BPE-set minimum performance target for power generation.

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  • Management Team

…a team of experienced professionals

www.transcorpnigeria.com Chinweugo Nwafor Group Head, Internal Audit Christopher Ezeafulukwe MD/CEO Adebayo Salako Chief Technical Officer Okaima Ohizua ED/ COO

TRANSCORP POWER LIMITED

Mutiu Bakare Group Chief Finance Officer Owen Omogiafo President/GCEO Chike Anikwe Acting Group Company Secretary Oluwasayo Akinwale Group Head, Marketing & Corporate Communications

GROUP LEADERSHIP

Kevin Brett GM, Transcorp Hilton Abuja Chuma Mgbojikwe GM, Transcorp Hotels Calabar Dupe Olusola MD/CEO Helen Iwuchukwu ED/COO

TRANSCORP HOTELS PLC

Gabriel Nkanga Director of Resources

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Operating Environment

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www.transcorpnigeria.com

Source: Trading Economics, Worldometer, IMF

Legend:

Upward GDP Growth Downward GDP Growth

Global Economic Impact of COVID-19

World economy to slowdown in 2020

USA

  • 9.5%

Brazil

  • 10.0%*

Canada

  • 14.0%*

India

  • 8.0%*

Nigeria

  • 6.1%

South Africa

  • 8.0%*

UK

  • 21.7%

China 3.2% Russia

  • 8.5%

Europe

  • 14.4%

Australia

  • 7.5%*

Japan

  • 9.9%

Global GDP Growth Rate

as at Q2 2020

Infected 23.68 million Deaths 814,029 Recovered 16.14 million 2019 2020F 2021F World Output 2.9

  • 4.9

5.4 Advanced Economies 1.7

  • 8.0

4.8 United States 2.3

  • 8.0

4.5 Euro Area 1.3

  • 10.2

6.0 Emerging Markets and Developing Economies 3.7

  • 3.0

5.9 China 6.1 1.0 8.2 Nigeria 2.2

  • 5.4

2.6 South Africa 0.2

  • 8.0

3.5 Low-Income Developing Countries 5.2

  • 1.0

5.2 IMF Projected GDP Growth COVID-19 Update as at 24th of August 2020

*Forecast

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www.transcorpnigeria.com

Source: CBN, NBS, Trading Economics, mbpd = million barrels per day, United Capital Research, Oil Price, Comercio Partners, Arrhenn Analysis

Key Macro Indicators

Performance highlights for the economy

INFLATION CONTINUED ITS UPWARD TREND DESPITE THE CUT IN MPR TO 12.5% DUE TO THE LOCKDOWN IN Q2, QoQ GDP GROWTH IS EXPECTED TO FALL DESPITE EARLIER DECLINE, THE LIQUIDY INJECTION FROM IMF LOAN REVIVED THE RESERVES AS THE IMPACT OF COVID HITS HARDER, THE PURCHASING MANAGERS INDEX FALLS

  • 5

10 15 20 25 30 35 40 45 50 10 20 30 40 50 60 70 80 Foreign Reserves Crude Oil Prices Brent Crude ($ pb) WTI Crude ($ pb) Foreign Reserve ($ bn)

1.7 1.75 1.8 1.85 1.9 1.95 2 2.05 2.1 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% Q1 '18 Q2 '18 Q3 '18 Q4 '18 Q1 '19 Q2 '19 Q3 '19 Q4 '19 Q1 '20 Crude Oil Production (mbpd) GDP growth rate Oil Production (mbpd) Quarterly GDP Growth Rate

  • 7

3 13 23 33 43 53 63 Manufacturing PMI Non-Manufacturing PMI 50 pts Threshold No CBN PMI Report in April 0.00% 2.50% 5.00% 7.50% 10.00% 12.50% 15.00% Headline Inflation Monetary Policy Rate

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Group Financial Performance

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www.transcorpnigeria.com

Income Statement

HY 2020 HY 2019 (N’ Million) (N’ Million)

Revenue 34,956 37,762 Gross Profit 14,700 17,280 Operating Profit 9,518 11,168 Profit Before Taxation 930 5,050 Profit After Taxation 778 4,614

Statement of Financial Position

HY 2020 FY 2019 (N’ Million) (N’ Million)

Total Assets 301,796 313,133 Total Liabilities 190,771 204,394 Shareholders’ Fund 111,026 108,738

Financial Highlights

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www.transcorpnigeria.com

▪ Group revenue declined by 7.4% year-on-year due to the 48.6% reduction in revenue from the Hospitality business. This drop in revenue was as a result of the impact of the lockdown and social distancing measures imposed by the government in order to control the rapid spread of COVID-19 pandemic. ▪ However, Transcorp Power recorded a 6% year-on-year appreciation in revenue which increased from ₦28 billion in HY 2019 to ₦30 billion in HY 2020. This growth was driven mostly by the improvement in the gas supply to the power plant.

COMMENT

Revenue Breakdown by Subsidiaries

HY 2020 (N’ Million) Contribution HY 2019 (N’ Million) Contribution Transcorp Power 30,175 86% 28,459 75% Transcorp Hotels 4,781 14% 9,303 25%

TOTAL

34,956 100% 37,762 100%

Group Revenue Breakdown

Contribution of subsidiaries to revenue…

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Power

Segment Review

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Source: USAID, NESISTATS, FGN & World Bank PSRP Report.

www.transcorpnigeria.com

Power

Sector overview

Residential customers account for 62% of total consumption

27% is utilized by commercial consumers

Only 11% is used by industrial customers. With a generation capacity

  • f about 32%, there is a

large gap to be filled in the power industry.

45% of the population or 88 million people have some

level of access to grid electricity. A population of more than

195 million people

Given the gap in the sector and the increasing demand for electricity, the power sector remains an attractive investment choice. Consumers

  • f Electricity

Bulk of Nigeria’s electricity is generated from thermal sources (gas-fired power plants).

81% 19% ELECTRICITY GENERATION MIX (INSTALLED CAPACITY, MW)

Gas/Thermal 10,142MW Hydro 2,380MW

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www.transcorpnigeria.com Source: NERC Quarterly Report 2019

Key challenges in the power sector

Liquidity Crunch

Operators across the value chain continue to battle increased pressure

  • n

cashflow and low collection from final consumers.

Inadequate Supply

  • f Gas

Pipeline vandalism and infrastructural instability continue to account for slow growth in amount of gas supplied to GenCos.

Low Load Off-take

Due to contraints

  • n

power transmission, it has been difficult for load to be taken off.

Tariff Shortfall

Tariff collection scheme remains poor thereby leading to increasing receivables for GenCos.

Power

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www.transcorpnigeria.com

Sectoral developments and improvements

Power

Source: FGN & World Bank PSRP Report

Commencement of Power Sector Recovery Operation (PSRO) powered by World Bank to boost electricity supply to 4,500 MW/hour by 2022 Creation of Power Sector Recovery Program (PSRP) to enhance service delivery and improve viability of power sector Presidential Power Initiative set up to increase capacity of National grid to a capacity of 25,000 MW in three phases NBET responding positively towards making payments for

  • utstanding invoices

Introduction of Service-Reflective Tariff (SRT) to create self-sustaining electricity market In Nigeria and achieve equitable billing The NERC launched a metering scheme to enhance the level of transparency in bill estimation and payment by customers

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www.transcorpnigeria.com

Our strategy amidst the power sector issues WAY FORWARD ▪ Our partnership with the Nigerian Gas Company (NGC) has continued to ensure the protection of gas supply infrastructure resulting in assured gas delivery to our plant. ▪ The full operationalization of the activated Gas Supply and Aggregation Agreement (GSAA) amongst us, our gas suppliers and the Gas Aggregation Company of Nigeria has commenced. This is one of the results of

  • ur significant progress in our quest for additional gas

supply. ▪ We look forward to the impact of the Nigerian Gas Transportation Network Code, which went live on August 10th, 2020. TPL’s signing onto the Code will end the current best endeavour arrangement with NGC and make NGC contractually bound to transport gas to our Plant. GAS SUPPLY ▪ Despite the challenges in the national grid, we had relatively stable gas supply during Q2 2020. ▪ Towards the end of the quarter, Ughelli Gas Plant faced some problems which led to a temporary shut

  • down. Consequently, gas supply from the gas plant to
  • ur own power generation plant dropped from about

90MMscfd to 30MMscfd. However, this had no significant impact on our power generation as gas supply from Utorogu Gas Plant increased significantly to cover for the deficit. The Ughelli Gas Plant has been fixed and restored to service. ▪ With the impact of COVID-19 on oil prices, there is now some shift of attention to gas production for local

  • consumption. We are leveraging on this opportunity

to improve gas supply to our gas plants.

Power

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www.transcorpnigeria.com

WAY FORWARD ▪ We will continue to monitor and follow-up on the on- going power infrastructure rehabilitation projects across the country, and plan accordingly. ▪ We will continue to explore opportunities available in the new NERC guidelines that allow us to supply power directly to eligible customers. This is a significant boost to the eligible customer market. ▪ Recently, NERC also released a consultative paper on determining the independence or otherwise of the System Operator (SO) from TCN. This is a positive development for the sector as an independent SO will enable TCN concentrate

  • n

transmission services while the SO ensures optimal performance of the grid. TRANSMISSION ▪ In Q2 2020, TPL received and complied with a number

  • f

instructions from the National Control Centre, Osogbo, which considerably impacted the

  • ptimization
  • f
  • ur

available capacity due to transmission/ distribution constraints. ▪ One of the two transmissions lines that evacuate power from our Plant tripped on 30 July 2020. This resulted in a loss of 200MW generation for the two and a half hours that the line was out of service. It was subsequently fixed and returned to service by TCN. ▪ Two grid collapses were recorded in Q2 2020, precisely on April 29th and June 2nd 2020. They lasted for a cumulative period of four and half hours.

Power

Our strategy amidst the power sector issues

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www.transcorpnigeria.com

Income Statement

HY 2020 HY 2019 (₦ Million) (₦ Million)

Revenue 30,175 28,459 Gross Profit 11,612 10,274 Operating Profit 9,969 8,639 Profit Before Taxation 5,252 5,556

Statement of Financial Position

HY 2020 FY 2019 (₦ Million) (₦ Million)

Total Assets 156,153 161,821 Total Liabilities 113,698 129,250 Total Equity 42,455 32,571

  • Revenue appreciated by 6% year-on-

year from ₦28.5 billion in HY 2019 to ₦30.2 billion in HY 2020 due to improvement in the gas supply in Q2.

  • Operating profit grew by 15% year-on-

year to ₦10 billion in HY 2020 from ₦8.6 billion in HY 2019.

  • However, profit before tax dropped

by 5% year-on-year from ₦5.6 billion in HY 2019 to ₦5.3 billion in HY 2020. This was due to the 250% net foreign exchange losses.

  • Nonetheless, Transcorp Power grew its

shareholders fund by 30% year-to- date on the back of increase in its retained earnings.

COMMENT

Financial highlights

Power

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www.transcorpnigeria.com

Key performance metrics

Increasing capacity utilization due to improved gas supply

Power

563 560 466 462 497 333 349 283 256 353 Q2 '19 Q3 '19 Q4 '19 Q1 '20 Q2 '20

Available vs Generated Capacity (MW)

Available Capacity (MW) Generated Capacity (MW)

0.5 1 1.5

0% 20% 40% 60% 80%

Q2'19 Q3'19 Q4'19 Q1'20 Q2'20

Capacity Utilization vs Gas Consumed

Capacity Utilisation Gas Consumed (Rebased)

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Hospitality

Segment Review

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Source: World Travel & Tourism Council Report – June 2020, AHLA, *Coldwell Banker Richard Ellis Group Incorporation

Hospitality

Sectoral impact of COVID-19

8 million +

hospitality and leisure jobs have been lost since February

2.1% Increase

In Global unemployment rate directly linked to Travel & Tourism job losses

Loss of over $46 billion

in room revenue since mid-February in US Hotels

Cash flow constraints

Restriction of mobility and virtual business operations have adversely impacted the revenue of industry players

Sharp drop in Occupancy Rate

  • Impact on travel industry 9x worse (Tourism

economics)

  • 8 in 10 Hotel rooms are empty (STR)
  • 2020 is projected to be the worst year on record for

hotel occupancy (CBRE)*

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www.transcorpnigeria.com

Highlight of government initiatives to encourage recovery in the Hospitality sector.

Hospitality

Reopening of 14 airports across the nation for full operation by both private and charter aircrafts. The Monetary Policy Committee downward review

  • f

MPR to 12.50% in May 2020. CBN requisition

  • f

banks to restructure as much as 41% of their loans to customers. The Federal government’s ₦2.3 trillion stimulus package and survival fund for Micro Small and Medium Enterprise (MSMEs). CBN’s ₦50 billion Targeted Credit Facility to ease COVID-19’s effect

  • n

the agriculture, hospitality, airline, and health industry. The CBN and Bank of Industry’s ₦235 billion intervention fund to re-finance and restructure banks’ loans to COVID-19 affected sector.

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www.transcorpnigeria.com

Key performance metrics

Hospitality

51% 74% 35% 5% 7% 11% 54% 69% 38% 20% 18% 21%

Jan '20 Feb '20 Mar '20 Apr '20 May '20 Jun '20

Occupancy Rate

THP Industry

75,815 83,313 83,571 81,632 76,256 83,132 60,244 67,873 64,629 38,226 37,199 42,177 Jan '20 Feb '20 Mar '20 Apr '20 May '20 Jun '20

Average Daily Rate (₦)

THP Industry 38,888 61,495 29,550 4,255 5,137 9,065 32,338 46,519 24,695 7,771 6,658 8,636 Jan '20 Feb '20 Mar '20 Apr '20 May '20 Jun '20

Revenue Per Available Room (₦)

THP Industry

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www.transcorpnigeria.com

Financial highlights

Income Statement

HY 2020 HY 2019 (₦ Million) (₦ Million)

Revenue 4,781 9,303 Gross Profit 3,088 6,999 Operating Profit/(Loss) (762) 2,795 (Loss)/Profit Before Taxation (3,638) 819

Statement of Financial Position

HY 2020 FY 2019 (₦ Million) (₦ Million)

Total Assets 113,092 114,746 Total Liabilities 59,187 57,203 Total Equity 53,905 57,543

  • Revenue dropped by 49% year-on-year

from ₦9.3 billion in HY 2019 to ₦4.8 billion in HY 2020. This was due to lockdown, travel restrictions and social distancing measures imposed by the government which effectively reduced

  • ur occupancy rate and revenue per

available room.

  • Consequently, our hospitality segment

recorded a loss of ₦3.6 billion during the period under review.

  • Total assets and shareholders fund also

dropped by 1% and 6% respectively.

COMMENT

Hospitality

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Oil & Gas

Segment Review

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www.transcorpnigeria.com

Oil and Gas

Major Energy indicators

Source: Country Economy, OPEC, NBS, DPR, PWC Nigeria 1Million Barrels Per Day, *Million Barrel

$42.95

Average brent crude oil price for the month of June 2020.

>N15Tn

Sectoral value in terms of real GDP

9.50%

Industry contribution to Nigeria, Q1 2020 GDP m

36.89 MB*

Proven crude oil reserve in Nigeria

57

Marginal undeveloped fields are available for bid after the election

XXX

XXX Average daily production for the year Q1 2020.

2.07 MBPD1 N233Bn

Estimated total lost income from gas flaring. Cubic feet of proven natural gas reserve.

203.16Tn

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The Petroleum Industry Bill is still awaiting passage into Acts by the National Assembly despite initial self-imposed deadline for the Bill. This has led to increased uncertainty as to the future of the industry. Inadequate infrastructure in the form of transportation and distribution network for natural gas remains a challenge to the development

  • f

the domestic

  • il

& gas value chain.

Delay in the Passage of PIB Infrastructural Deficit

Nigeria lost $48 million to oil theft in the first half of 2020 (NNPC). The

  • ccasional

agitations by indigenes in the Niger Delta has remained a challenge for the oil and gas industry. The increased fluctuation in global oil price has reduced government revenue, and the partial deregulation

  • f

PMS price in the downstream sector continues to shrink the profit margins of sellers.

Price fluctuations and PMS price regulation Insurgency/pipeline vandalism

www.transcorpnigeria.com

Challenges hindering the sector in Nigeria…

Oil and Gas

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Estimated Oil Reserve and Gas are 189.73mn Million Stock Tank Barrels (MMSTB)and 377.48 Billion Standard Cubic Feet (BSCF) respectively.

Partnerships

 Identification

  • f

competent and capable technical/financial partners to jointly develop asset  Commence funding considerations and financing options for OPL 281 Work Programme Obligations

2018 - 2020

Drilling Expansion

 Site Survey and Location Preparation  Community Engagement and conclude FTOs with Host Communities  Drilling of Obote-2X Well.  Increase production

  • f

the hydrocarbons (oil & gas) depending

  • n drilling results;

 Expand gas productions  Conversion of OPL to OML

2020 - 2021 2021 - 2022

Production

 Acquire 3D Seismic Data  Drilling of second well  Complete all Work Programme obligations

2021 - 2022

www.transcorpnigeria.com

Milestones accomplished so far…

Oil and Gas

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Outlook

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Hospitality Power Business

ADR (₦) 80,300 80,052 Occupancy(%) 8 24 RevPAR (₦) 6,148 19,334 Average (MW) Available Capacity 497 528 Average (MW) Generated Capacity 353 375 Q2 2020 Actual Q3 2020 Target

www.transcorpnigeria.com

Q3 2020 Outlook

Guidance for future performance…

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Strategic Fit Gas Availability Sufficient Evacuation Capacity Cost-efficient Capacity Recovery Eligible Customer Opportunity

01 02 03 04 05

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Afam Acquisition

Investment attractiveness…

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Secure Formal Approval from NCP

Issue of 15% Bank Guarantee Negotiation of Transaction Agreements Execute Transaction Agreements Payment of 25% Acquisition Cost Payment of Balance 75% Acquisition Cost Takeover

Q4 2019 Q4 2019 Q4 2019 Q1 2020 Q1 2020 Q2 2020 Q3 2020 We will explore the possibility of early takeover.

Secure Funding Indicative Timeline

www.transcorpnigeria.com

Afam Acquisition

Outlook…

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COVID-19 Response & Intervention

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www.transcorpnigeria.com

Response to COVID-19

Interventions so far…

We have proactively responded to the pandemic by maintaining the health and safety of our internal and external stakeholders. Among

  • ther things we did the following:
  • Activation of increased safety measures across our businesses and
  • ffices.
  • Official launch of Hilton CleanStay programme for guests at

Transcorp Hilton Abuja.

  • Transcorp Power donated some relief materials (Food items, Hand

sanitizers, Liquid soaps & cash donations) to its host communities- Ekrerhavwe Community, Ekakpamre Community, Eruemukohwarien Community as well as Ughelli South and North Local Governments of Delta State to cushion the effect of coronavirus pandemic. A total of 1,308 families benefitted from this intervention.

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Questions

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Contact:

Mutiu Bakare mutiu.bakare@transcorpnigeria.com Florence Nasamu florence.nasamu@transcorpnigeria.com Oluwatobiloba Ojediran

  • luwatobiloba.ojediran@transcorphotelsplc.com
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Thank You