1

Navitas PetroleumCapital Market Presentation

January 2018

This presentation does not constitute and is not to be interpreted as an invitation and/or offer to purchase and/or allocate securities in Navitas Petroleum –Limited Partnership (the “Partnership”) and/or Navitas Buckskin Financing Ltd. (hereinafter: “the Company” and jointly “the Corporations”). TheCorporations are a reporting corporation as defined in the Securities Law, 5728-1968 (hereinafter: “the Law”). As such, they are governed by the provisions ofthe Law, including the restrictions and prohibitions set forth therein.

This presentation and the information herein are the exclusive property of the Corporations. Distribution and/or use thereof in contravention of any law andwithout prior, explicit and written approval from the Corporations is strictlyprohibited.

This presentation was prepared solely for purposes of concision and convenience . The presentation cannot replace perusal of the draft public prospectus orthe prospectus that has received permission from the ISA, which include the full and binding information about the Corporations and the securities offeredthereby, including a full description of the risk factors to which the Corporations are exposed, prior to making a decision on an investment in the securities ofthe Corporations. In any event of discrepancy between the presentation and the draft prospectus and/or the prospectus and/or reports to be released by theCorporations in the future as required by law, such documents will prevail.

The business strategy of the Corporations and their subsidiaries as presented in the presentation is true as of the date of the presentation and may change inthe future, inter alia, consideringmarket conditions and the decisions of the Corporations’board of directors.

The presentation includes forward-looking information, as defined in the law. Such information includes, inter alia, forecasts, objectives, assessments andestimates, including information presented by way of illustrations and/or graphs and/or tables, which refer to future matters and/or events, the materializationof which is neithercertain nor within the control of the Corporations.

Forward-looking information is based on assessments by Corporation management, which are based, inter alia, on information known to the management ofthe Corporations on the date of preparation of this presentation, including estimations of the business markets of the Corporations, public and statisticalpublications and data released by various authorities and bodies, the contents of which have not been independently examined by the Corporations arethereforenot responsible for the correctness thereof.

The materialization of forward-looking information, in whole or in part or differently than expected, or the non-materialization thereof, will be affected, interalia, by the risk factors that characterize the business of the Corporations as well as the developments in the economic environment and exogenous factorsthat affect the Corporations in their business segments, which cannot be estimated in advance and are not within the Corporations’ control. The Corporationshave no certainty that their estimations, plans and expectations will materialize and, consequently, the business results may materially differ from the resultsestimated or implied by this information.

Disclaimer

2

Disclaimer

3

Israel

Gulf of Mexico

East Canada

Navitas Petroleum Partnership

Buckskin –

“auto-pilot” value generator

Attractive entry pricing

Established activity

Right place and time for purchasing value

creating assets

Houston

Navitas Petroleum Partnership

4

Navitas AssetsNavitas has developed a balanced asset portfolio generating quick cash flow in the short term

Ass

etsV

alue

Time

Cash flow from

discoveriesunder

development 1

Low cost & short timeline to production

10 projects in the Gulf of Mexico Area

Discoveries under Development

Buckskin

High Impact Assets

Exploration license off the East Coast of Canada

•High impact exploration projects with huge

upside potantial

•Significant value generation overtime

•No need for immediate capital investments

•Projects joined post-discovery andunder

development on opportunity terms

•Non-recourse project financing

•Quick and substantial cash flow generation

•Low-risk exploration projects

•Economically andgeologically

proven area

•Inexpensive and swift

development

•Quick cash flow generation

1. Cash flow attributed to the development of Phase 1A of the Buckskin Project and in case of discoveries –to PL16 and Bayou Fer Blanc projects

Labrador and Newfoundland

Canada

Navitas AssetsTotal potential for Navitas - ~660 million barrels¹

Block 7427 MMBOE

St. John

Montreal

Houston

Gulf of Mexico

USA

Drilling scheduled for 2018³

Discovery

Discovery under development

EB 832 -3 MMBOEEB 876 -3 MMBOE EB 915 -6 MMBOE

BFB25 MMBOEPL 16

30 MMBOE

EC 15866 MMBOE

EC 22823 MMBOE

EB 2524 MMBOE

EC 2282 MMBOE²

High Island A4038 MMBOE

GC 8224 MMBOE²

Buckskin39 MMBOE

1. Navitas share of the potential reserves and resources in the projects (which include the categories of Prospective Resources (Best Estimates) and/or Contingent Resources (2C) and/or Reserves (2P), according to NSAI reports of 8 September 2017, according to BOE(BarrelsofOilEquivalent)calculation. GasunitperBOE:6MCF=1BBL. NSAIestimatesofthequantitiesofoilandnaturalgasresources bywhichpetroleumassetsconstituteforward-looking informationasdefinedwithintheSecuritiesLaw. Theestimatesabovearebased, inter alia, on geological, geophysical, engineering and other information obtained from wells and the reservoir operator and/or expert consultants in the field, and merely comprise NSAI estimates and conjecture regarding which there is no certainty. Thequantities ofnaturalgas and/or oil to be actually produced may differ from such estimations and conjectures, inter alia, as a resultofoperating and technical conditions and/or regulatorychanges and/or conditions ofsupply and demand in the naturalgasand/or oilmarketand/orcommercialconditionsand/orasaresultoftheactualperformanceofthereservoirs.Suchestimationsandconjecturesmaybeupdatedinsofarasadditionalknowledgeaccumulatesand/orasaresultofagamutoffactorsrelatedtothepetroleumassetandtheproduction ofoilandnaturalgas.

2. Includingdiscoveryandexploration.3. Theaboveconstitutesforward-looking information,asthematerializationthereof, inwhole or inpart, is uncertain, inter alia, since it is contingenton developments inthe economicenvironmentandonexogenousfactorsthatarenotwithinthePartnership’scontrol.

Insofarassuchdrilling isperformed,thereisnocertaintythatanypartofthespecified resourceswill indeedbediscovered,andifdiscovered–thereisnocertaintythatitwillbecommerciallyfeasible toproduceanypartoftheresources.

New York

St. John

USAHouston

CanadaNavitas AssetsTotal existing potential – 660 million barrels1

5

6

Net DCF based on

NSAI reports¹

($mm)

Geological Chance

of Success²

Reserves and

Resources

(mmboe)¹Assets

Discoveries Under Development

1153Discovery17.8Buckskin north Proved+Probable (2P)

Discovery1.4Buckskin north Contingent

NADiscovery19.3Buckskin south Contingent

Low cost Projects with short timeline to production

107529% - 48%12.5PL 16

76548%7.6PL 16s

NA29% - 31%9.8PL16 (additional prospects)

82542% - 45%24.9Bayou Fer Blanc (BFB)

NA19% until discovery139.2Other U.S. licenses

High Impact Assets

NA15%427.4Canada License

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1.Navitasshareofthepotential reservesandresourcesintheprojects(whichincludethecategoriesofProspectiveResources(BestEstimates)and/orContingentResources(2C)and/orReserves(2P),accordingtoNSAIreportsof8September2017,unrisked,accordingtoBOE(BarrelsofOilEquivalent).2.InaccordancewithNSAIreportsof8September,2017.3.TheshareofNavitasinthediscountedcashflowof2Pscenarioin8wellsaccordingtoNSAIreportof9November,2017,withaquantityof178millionbarrelsofoil.10%discountratepost6%royaltiesand35%taxes.Theaforesaidconstitutesforward-lookinginformation.Withrespecttothewarningregardingforward-lookinginformationondiscountedcashflowofreserves,seethewarningregardingforward-lookinginformation inSlide8.4.TheshareofNavitasinthediscountedcashflowofa2CscenarioaccordingtoNSAI’sreportof9November,2017.Withrespecttothewarningregardingforward-lookinginformation ondiscountedcashflowofreserves,seethewarningregardingforward-lookinginformationinSlide8.5.DiscountedcashflowaccordingtoFootnote1assumingsuccessfulexplorationwell(s)andcommercialdiscovery. ThePartnershipchosetospecifydiscountedcashflowfigureswithrespecttotheProspectiveResources intheasset inrespectofwhichan in-principledecisionhasbeenmade bythePartnershiptodrillawell,subjecttotheexistenceofsufficientfinancialsourcesatthepartnershiplevel,andnottopresentdiscountedcashflowfigureswithrespecttotheotherpetroleumassetsofthePartnership,includingwithrespecttoassetsinwhich,assumingsuccessfulexplorationdrillings,thereareContingentResources,sincenoundertakingtodrillawelloradecisionasaforesaidhasyetbeenmadeinrespectthereof.Theaforesaidconstitutesforward-lookinginformation.Withrespecttothewarningregardingforward-lookinginformationondiscountedcashflowofProspectiveResources,seethewarningregardingforward-lookinginformation inSlide8.

Navitas AssetsDiscounted cashflow by project (prior to U.S. corporate tax deduction)

7

▪ In July 2017, Navitas completed bonds offering of 472mm NIS under a European financing model toward financing thedevelopment of the Buckskin project

▪ In December 2017, Navitas completed bonds offering of another 248mm NIS, by expansion of the current series towardsfinancing of the project development, where Navitas’ share increased to 7.5% project ownership

▪ Budget Update

Since the bonds issuance, the development budget was reduced by ~22% ($697mm to $541mm)

▪ Operational Update

‒ Development plan progressing on track

‒ Commence drilling of production wells – January 2018

‒ Forecast for Initial Production – July 2019

▪ Bonds impact on future transaction flow

‒ Navitas is considered as a new and active player in the Gulf of Mexico, US

‒ Following the offerings success, Navitas was approached by leading companies in the are for potential collaboration

▪ Development plan progress forecast¹ –

Order and procurement of

production platform equipmentInstallation of

subsea facilities

Commence drilling of

production wells

Connect to production platform

and initiate production

Financial closing of development financing

07/2017

Order and procurement of subsea facilities

Complete drilling of production wells

Value creating events along development of the Buckskin project1

07/2019

48

116

202

01/2018IPO

Buckskin –

value generator on auto-pilot²

Nav

itas

shar

e in

DCF

($m

m)

Modification of production platform

1. The aforesaid constitutes forward-looking information. In this regard, see the warning regarding forward-looking information in Slide 2.

2. Please see Slides 6 and 11.

Activity UpdateBuckskin project

Closing of development financing

07/2019

Initial Production

Ownership

Resources¹ (mmboe)

Operator

Water depth (meters)

Castex

32.5%

24.9

5,640

2

Bayou Fer Blanc (BFB)

Navitas

100%

7.6

4,115

17

PL 16s

100%

12.5

4,115

17

Navitas

PL 16

42%-45%

6.0

48%

7.5

48%2

7.5

Geological Chance of Success

Dry HoleCost³ ($mm)

2018

26 years

2019

9 years

2018

17 years

Target first oil

Years of production

8276107NPV104 ($mm)

Low risk at low price

Fast track to years’-long production

High profitability

Activity Update2018 drilling plan

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1.NavitasshareintheProspectiveResources(BestEstimate),accordingtotheNSAIreportof8September,2017.accordingtoBOE(BarrelsofOilEquivalent).2.ChanceofSuccessforthemaintarget,accordingtotheNSAIreportof8September,2017.3.Navitasshare(approximately).4.Intheeventofadiscovery,NavitasshareaccordingtotheNSAIreportof8September2017,usingacashflowdiscountrateof10%(asisstandardinthesector),fortheproductionofprospectiveresourcesundertheBestEstimatecategory,unrisked,aftertaxesandroyaltiesandunderNavitas’assumptionsregardingdevelopment andproductioncosts.Caution– it isclarifiedthatthediscountedcashflowinformation,whethercalculatedunderaspecificdiscountrateorwithoutadiscountrate,representcurrentvaluebutnotnecessarilyfairvalue.ThereisnocertaintythatanypartofthespecifiedProspectiveResourceswillindeedbediscovered.Ifdiscovered,thereisnocertaintythatitwillbecommerciallyfeasibletoproduceanypartoftheresources.Theprospectiveinformation isnotanestimationofReservesandContingentResources,whichmaybeestimatedonlyaftertheexplorationdrilling, ifatall.Caution regarding forward-looking information– the aforesaid discounted cash flow information constitute forward-looking information, within the meaning thereof in the Law. The above data are based on various assumptions, including with respect to the quantities of gas and oil to beproduced,therateanddurationofnaturalgassalesfromtheproject,operatingcosts,capitalexpenditures,abandonmentexpenses,royaltyratesandsaleprices,thematerializationofwhichiscompletelyuncertain.Itisnotedthatthequantitiesofnaturalgasand/oroiltobeactuallyproduced,ifany,theaforesaidexpensesandtheaforesaidrevenuesmaymateriallydifferfromtheaforesaid estimationsandconjectures, interalia,duetothefactthatnobindingcontractshavebeensignedyet inrelationtothesaleofoiland/ornaturalgasfromtheproject/s,andasaresultofoperatingandtechnicalconditionsand/orregulatorychangesand/orthepricesofoilontheglobalmarketand/ornaturalgaspricesontheU.S.marketand/ortheproject’sactualperformanceand/orasaresultofthesalepricesandthequantitiesactuallydeterminedincontractstobesignedforthesaleofoilorgasfromtheproject/s,ifsigned,and/orasaresultofgeopoliticalchangestooccur.

Total depth (meters)

Activity Update2018 drilling plan

9

St. John

New York

Montreal

Block 3BP

Noble Energy Hess

Block 4BP

Noble EnergyHess

Block 8BP

Noble EnergyHess

Canada

Block 7Navitas

Delek Group

▪ Navitas led its joint bid (30%) with Delek Group (70%) for Block 7, consisting of ~2,000 km², in the West Orphan basinoffshore east coast of Canada

▪ A Beicip² report presented potential of ~25.5 billion barrels of petroleum and ~20.6 TCF of natural gas for the West Orphanbasin

▪ Some of the world’s largest oil and gas companies,

including BP, Shell, Chevron, ExxonMobil and Statoil

are investing billions of dollars in exploration and

development in east Canada - ~3 billion barrels have

been developed in the east Canada region thus far³

▪ Hess, BP and Noble Energy won the three blocks

adjacent to the Navitas block, undertaking total

commitments of ~CAD 413 million⁴

▪ Navitas and Delek won Block 7 in consideration for a

CAD 48 million operations commitment

▪ Navitas purchased a 2D seismic survey for the main

prospect area. After processing and interpreting the

information, Navitas mapped out a 400 km² prospect

with potential of ~1.4 billion barrels¹

1. Out of which approx. 1.2 billion barrels of oil (100% of the prospect), in accordance with NSAI’s report of 8 September, 2017, according to a BOE calculation.2. International Oil and Gas Consulting and Software Solutions Provider, a report that was released on August 16, 2016.3. For further information, see the website C-NLOPB, http://www.capp.ca/canadian-oil-and-natural-gas/industry-across-canada/newfoundland-and-labrador.4. For further information, see the website C-NLOPB, http://www.cnlopb.ca/news/nr20161109.php.

Activity UpdateBlock 7, Canada – Prospect of ~1.4 billion barrels¹

▪ Navitas is having discussions to purchase 3D seismic survey in collaboration with working interest owners of nearby blocks

Undeveloped discovery³

Houston

Navitas prepares together with partners to purchase other development assets (“Cherry Picking”)

Gulf of Mexico

USA

Crisis in oil

and gas

prices

Cheap assets –

Formation of a

buyers’ market

Decrease of

development

and production

costs

Preparing

for oil price

recovery¹

Resurgence

of drilling

operations

in the U.S.²

10

1. The Partnership estimations described above constitute forward-looking information, based, inter alia, on information known to the Partnership management at the time of preparation of this presentation, including estimations of the Partnership business markets, public and statisticalpublicationsanddata,thecontentsofwhichhavenotbeenindependentlyexaminedbythePartnership,andthePartnershipisthereforenotresponsibleforthecorrectnessthereof.Thematerializationofforward-lookinginformation,inwholeorinpartordifferentlythanexpected,orthenon-materialization thereof,willbeaffected,interalia,bythedevelopments intheeconomicenvironmentandexogenousfactorsthataffectthePartnershipinitsoperatingsegments,whichcannotbeestimatedinadvanceandwhicharenotwithinthePartnership’scontrol.2. For further details, see Chapter 7.6.4 of the Partnership prospectus.3. Illustration for simulation purposes only

Current Window of OpportunityExploiting a unique opportunity for purchasing development assets

The successful project financing of the

Buckskin development created a

relative advantage for Navitas

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Time

Valu

e

Exploration and Evaluation

Development Production

Financial Closing$116mm²

Refinance Value$202mm³

Example –Buckskin North

(excl. south section)

Initial Production

FID

Value creation curve for assets under Navitas’ core focus

1.Illustrationforsimulationpurposesonly.2.PleaseseeSlide6.3.TheshareofNavitasina8%discountedcashflow asofcommencingproduction(July2019),inaccordancewithNSAIreportof9November2017.

Current Window of OpportunityNavitas identifies a unique situation for generating value by acquiring assets in the development phase

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Jan.-Mar. 2017

July 2017

Sept. 2017

Dec. 2017

Positive developments since bonds IPO

472

60

60

248 840

Debt

Total

Capital

Debt

Capital

Navitas successfully raised 840mm NIS in 2017

5% Buckskin Project

Positive updates from Buckskin’s operator

Additional 2.5% Buckskin Project

U.S. corp. tax reform completed

Expand activities to include producing assets

WTI oil barrel price exceeds $60

2017 SummarySuccessful bonds and equity offerings in addition to other positive developments

60

60

472

248 840

Thank you!