Dalrymple Bay Infrastructure Ltd. · ASX:DBI
Dalrymple Bay Infrastructure — US Private Placement Industry Forum Miami 2023
28 slides from Dalrymple Bay Infrastructure's conference presentation, Jan 23, 2023
Slide 1: Investor Presentation (ASX Announcement)
ASX Announcement 23 January 2023 Investor Presentation Dalrymple Bay Infrastructure Limited (ASX:DBI) releases the following Investor Presentation prepared for the US Private Placement Industry Forum being held this week in Miami, United States. -ENDS- Authorised for release by the Disclosure Commit
Slide 2: USPP Investor Presentation January 2023
USPP Investor Presentation January 2023
Slide 3: Today's presenters and agenda
Today’s presenters and agenda 01 Investment Highlights 02 Pricing Agreement with Customers 03 Growth Options 04 Sustainability Planning and Transition 05 Debt Profile 06 Appendices 2 USPP Investor Presentation | January 2023
Slide 4: DBI − essential infrastructure for a world in transition
DBI − essential infrastructure for a world in transition Dalrymple Bay Infrastructure (DBI) through its foundation asset, the Dalrymple Bay Terminal (DBT), aims to provide safe and efficient port infrastructure and services for producers and consumers of high quality Australian metallurgical coal ex
Slide 5: Investment Highlights
Investment Highlights 4
Slide 6: Investment highlights
Investment highlights Stable and consistent financial results supported by fully contracted take or pay volumes Strong H1-22 Financials(1) Operational Performance • Terminal Infrastructure Charge (TIC) revenue of $102.0m • 24.9mt of coal exported in H1-22 • EBITDA of $97.5m • Successful commissionin
Slide 7: Dalrymple Bay Terminal is a critical link in the global steel supply chain
Dalrymple Bay Terminal is a critical link in the global steel supply chain Majority of new Queensland metallurgical coal projects are expected to come from the central Bowen Basin Fully contracted to June 10 year inflation-linked 2028 at 84.2Mtpa with pricing agreement with all evergreen renewal opt
Slide 8: Longstanding relationships with high quality users
Longstanding relationships with high quality users Diversified User portfolio comprising some of Contracted Capacity – User Composition Majority of users are investment grade (by contracted volume) the world’s largest mining companies (2022)(1) Investment Grade Relationship Take-or-pay contracts wit
Slide 9: Pricing Agreement with Users
Pricing Agreement with Users
Slide 10: 10 year pricing agreed with customers to 2031
10 year pricing agreed with customers to 2031 In 2022 DBI agreed commercial terms with all of its customers under the light-handed regulatory framework Higher Terminal Infrastructure Charge Annual Price Adjustments 10 Year Term • TY-22/23(1) Terminal Infrastructure Charge • Base TIC indexed annually
Slide 11: Stable and predictable revenue profile
Stable and predictable revenue profile TIC revenue is not impacted by: Resulting in: • Throughput – due to take-or-pay contracts • Predictability of cashflows • Force Majeure events(1) • FFO growth driven by inflation and organic investment through • Customer Defaults – due to socialisation mechanis
Slide 12: Growth Options
Growth Options
Slide 13: Organic growth opportunity – 8X Project
Organic growth opportunity – 8X Project Proposed 8X Project – optimisation and efficiency improvements at existing terminal resulting in capacity release Headline Features Optimisation Characteristics Status • Wholly within existing terminal footprint • Increases storage volume by 20% without • Secu
Slide 14: Hydrogen strategy planning
Hydrogen strategy planning Dalrymple Bay is ideally positioned from an infrastructure perspective for the export of hydrogen given the port of Hay Point’s deep-water nature, abundant nearby land to support further development, proximity to Asian consumers and location within one of Queensland’s defi
Slide 15: Sustainability and Transition Planning
Sustainability and Transition Planning
Slide 16: Key ESG highlights for 2021/22
Key ESG highlights for 2021/22 DBT secured Electricity Sale 98.5% 33% Agreement with Transition of water utilised was captured on site and recycled DBI female Executive Leadership 100% strategy renewable benefits(1) Developed and released with 2022 68% 34% Zero Sustainability report of waste was rec
Slide 17: Transition strategy
Transition strategy DBI remains comfortable that there will be strong demand for DBT’s services through the period to 2050 and beyond 01 02 03 04 05 Forecast long term The transition to a low DBT retains attractive DBI will monitor the To remain resilient in the demand for Australian carbon economy
Slide 18: Pathway to net zero – global metallurgical coal demand
Pathway to net zero – global metallurgical coal demand • The International Energy Agency (IEA) has modelled a range of potential climate, technological and economic scenarios outlining the expected timelines for achieving global Net Zero emissions. • While the IEA has detailed forecasts for steel an
Slide 19: Pathway to net zero – global metallurgical coal supply
Pathway to net zero – global metallurgical coal supply • DBI expects that significant metallurgical coal volumes will continue to be exported through DBT under all scenarios. • Even under the Net Zero by 2050 (AET 1.5) scenario, Australia is expected to retain a significant share of the remaining se
Slide 20: Debt Profile
Debt Profile oe Se ee
Slide 21: Investment grade balance sheet
Investment grade balance sheet Investment grade credit profile with diversified funding sources(1,2) Funding Source(1,2) (by Facility Limit, %) • $2.4 billion of total facility limits of which $1.99 billion was drawn at 30 June 2022 c.80% Capital Bank Debt • Weighted average tenor of 6.98 years(3) M
Slide 22: Glossary
Glossary $ Australian Dollar unless otherwise stated FFO Funds From Operations /t Per metric tonne Group DBI and its wholly owned or controlled entities 8X Expansion Expansion program to bring terminal capacity to 99.1Mtpa m Million AU Access Undertaking. Sets out the terms of terminal access, the p
Slide 23: Appendices
Appendices
Slide 24: Profit and loss
Profit and loss During H1-22, DBI reported EBITDA of $97.5m and a net operating profit after tax of $6.6m 1 TIC Revenue Profit & Loss, A$ million Note 1H FY2022 1H FY2021 Since the start of the new regulatory period on 1 July 2021, DBI has continued to charge customers under the previous pricing arr
Slide 25: Cashflow statement
Cashflow statement DBI’s FFO and cashflow for H1 FY22 has increased compared to comparative prior year period 1 IPO Costs Cashflow, A$ million Note 1H FY2022 1H FY2021 $3.6m of the estimated IPO Transaction Costs have been reversed in the current period. TIC Revenue 102.0 100.9 G&A Expenses (excludi
Slide 26: Balance sheet
Balance sheet DBI maintained an investment grade balance sheet 1 Cash Balanc e Sheet A$ million Note 30-Jun-22 31-D ec -21 The balance at 30 June 2022 includes $56 million of funds raised in the 2021 USPP issue funded in Cash 1 89.9 42.0 March 2022 which were in excess of the funds required to repay
Slide 27: Reconciliation of statutory borrowings to drawn debt
Reconciliation of statutory borrowings to drawn debt Borrowing s A$ million Note 3 0 -Jun-22 3 1 -D ec-2 1 1 Fair value adjustments booked on acquisition of DBT Group BALANCE SHEET entities Current borrowings 436.2 9.0 On acquisition of the DBT Entities, a fair value adjustment of $48.4 million Non-
Slide 28: Disclaimer and important notices
Disclaimer and important notices This presentation has been prepared by Dalrymple Bay Infrastructure Limited ACN 643 302 032 (DBI or the Company). Summary Information Financial data This presentation contains summary information about the Company and its related entities and their activities, curren
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