Regalwood Global Energy (RWGE) Financial Report Summaries

Management Discussion

• Since the consummation of our Public Offering, our activity has been limited to the search for a prospective Initial Business Combination, and we will not generate any operating revenues until the completion of our Initial Business Combination. We expect to incur expenses as a result of being a public company (for legal, financial reporting, accounting and auditing compliance), as well as increased expenses for due diligence expenses. We expect to continue to incur significant costs in the pursuit of our acquisition plans.
• For the three months ended September 30, 2019 and 2018, we had net income of $1,417,318 and $1,231,516, which consisted of $1,553,120 and $1,382,832 in interest income, offset by total expenses of $135,802 and $151,316, respectively. For the three months ended September 30, 2019, total expenses included $60,000 and $75,802 in related party administrative fees and general and administrative expenses, respectively. For the three months ended September 30, 2018, total expenses included $60,000 and $91,316 in related party administrative fees and general and administrative expenses, respectively.
• For the nine months ended September 30, 2019 and 2018, we had net income of $4,549,496 and $2,859,216, which consisted of $4,984,402 and $3,529,358 in interest income, offset by total expenses of $434,906 and $670,142, respectively. For the nine months ended September 30, 2019, total expenses included $180,000 and $254,906 in related party administrative fees and general and administrative expenses, respectively. For the nine months ended September 30, 2018, total expenses included $180,000 and $490,142 in related party administrative fees and general and administrative expenses, respectively.