TIDEWATER MIDSTREAM & INFRASTRUCTURE LTD Pipestone Gas Storage Ram River Gas Plant Brazeau River Complex Prince George Refinery Investor Presentation August 2022 : TWM
Tidewater Corporate Profile (Deconsolidated is Tidewater Midstream stand alone, Consolidated includes Tidewater Renewables) Stock Symbol TSX: TWM Common Shares Outstanding 419 million Insider Ownership (Fully Diluted) (1) 30%…
Investment Highlights Corporate Snapshot and Asset Overview A Diversified Midstream Company with an Expanding Value Chain, Supported by Long Term Contracts 1 Acquire and Build High Quality, MONTNEY CORE AREA Strategically Located,…
Tidewater Continues To Strengthen Customer and Contracts 80% EBITDA is from minimum volume commitment contracts and 50% of EBITDA from investment grade counterparties 0% 20% Material cash flow to contribute to deleveraging…
Tidewaters Refinancing August 2022 Refinancing Overview Closing on August 16, 2022 Tidewater Midstream and Infrastructure Ltd. refinanced its existing 125 million senior unsecured notes due Dec. 19, 2022 and 20 million second lien…
Debt Maturity Profile Tidewater Midstreams Refinancing of Existing Second Lien Term Loan and Senior Unsecured Notes Tidewater Midstream Deconsolidated Debt Profile Prior to Refinancing 600 Total Debt / Trailing Twelve Month EBITDA…
Midstream Peer Group Comparables TWM Valuation Relative To Peers AFFO (FCF) Net Debt/ 3-Yr CAGR '22E Dividend Current Divi. P/E (x) EV/EBITDA (x) P/AFFO (x) Yield EBITDA (x) 2020A-2023E Payout Ratios Priced as of 8/17/2022 Ticker Exch.…
Consolidated Financial Overview Annual Net Income, Adjusted EBITDA & YE Net Debt Growing Profitability 300 (4) (4) 0.80 (4)(5) Net Income Adj. TWM EBITDA Adj. LCFS EBITDA Adj. EBITDA per share Net Income & Adj. EBITDA (mm)…
Integrated Value Chain Tidewaters Integrated Natural Gas, NGL, and Crude Oil Value Chains Natural Gas Natural Gas Liquids Crude and Condensate 30,000 bbls/d of NGL processing 12,000 bbls/d refining capacity 1.0 Bcf/d processing…
Prince George Refinery Facility Highlights Highly profitable light oil refinery located in Prince George, B.C. One of two refineries in British Columbia; PGR was previously operated by Husky for over 50 years Top decile crack spreads…
Prince George Refinery (continued) Strategic 2019 acquisition purchase price has been paid…
Prince George Refinery (continued) Unlocking value since acquisition Tidewater effectively executed on debottlenecking of various processing units whereby PGR is consistently seeing record total throughput and combined gasoline + diesel…
Prince George Refinery (continued) Crack spreads amongst the highest in North America The combination of discounted regional crude prices and strong refined product pricing results in Prince George consistently having some of the…
Montney Core Area Overview Strategically Positioned to Offer Montney Customers Processing, Egress, and Storage Pipestone began processing sour gas on September 15, 2019 Montney Processing Facilities & Pipelines Throughput at or near…
Montney Core Area Pipestone Gas Plant 19
Deep Basin Core Area Overview Activity Continues to Increase Around Tidewaters Deep Basin Assets Pioneer Pipeline (Tidewater sold to ATCO Gas and Pipelines Deep Basin Processing Facilities & Pipelines Ltd. in Q2 2021) physically…
Edmonton Core Area Overview Edmonton Assets Provide Egress and Takeaway Options Edmonton Processing Facilities & Pipelines Tidewater has over 800 km of key pipelines and valuable right of ways at Edmonton, 450 acres of heavy…
Tidewater Renewables Overview 22
Tidewater Renewables Ltd. (TSX: LCFS) CREATION OF TIDEWATER RENEWABLES TRANSACTION OVERVIEW Creation and capitalization of Tidewater Renewables is expected to unlock significant value for Tidewater Midstream shareholders through the…
Tidewater Renewables Business Model is Underpinned by 3 Products NEW ENERGY TRANSITION PLATFORM CATERS TO A GROWING GLOBAL DEMAND BASE Multi-faceted green energy platform with Renewable Diesel Near-Term1,2 Long-Term1,2 strong ESG…
Tidewater Renewables Ltd. A CANADIAN ENERGY TRANSITION LEADER WITH A FOCUS ON RENEWABLE FUELS Tidewater Renewables Asset Map Tidewater Renewables is an energy transition company 1 2 3 4 Prince George Brazeau River Ram River Rimrock…
Renewable Diesel Refinery and Associated Renewable Hydrogen PROJECT OVERVIEW: FLAGSHIP ASSET RECEIVED FID WITH CONSTRUCTION COMMENCED IN Q3 2021 Renewable Diesel Refinery co-located at the Prince George Refinery Utilizes renewable…
Corporate Responsibility & Sustainability Prioritizing Environmental, Social and Governance (ESG) in the Canadian Energy Transition Tidewater Midstream is committed to conducting its business in a way that balances diverse stakeholder…
Appendix 28
History of Successful Acquisitions & Development Demonstrated Ability to Effectively Integrate and Enhance the Value of Acquired Assets A Jun. 2, 2015 (180 mm) B May 5, 2016 (11 mm) A Dec. 19, 2016 (30 mm) B Oct. 2018 (220 mm)(1) B Sep.…
Analyst Coverage Financial Institution Analyst Acumen Capital Trevor Reynolds ATB Capital Markets Nate Heywood Canaccord Genuity John Bereznicki CIBC Robert Catellier Credit Suisse Andrew Kuske National Bank Financial…
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