Tejon Ranch Co · NYSE:TRC
Tejon Ranch — 12th Annual JMP Securities Conference (May 2013)
30 slides from Tejon Ranch's conference presentation, May 10, 2013
Slide 1: Tejon Ranch: Preserving California's Legacy
TEJON RANCH PRESERVING CALIFORNIA’S LEGACY PROVIDING FOR CALIFORNIA’S FUTURE 12th Annual JMP Securities Conference May 13, 2013
Slide 2: Forward Looking Statements
Forward Looking Statements Statements in or accompanying this presentation that relate to or are based on plans, projections, expectations, assumptions, future events and results are forward-looking statements that involve a number of risks and uncertainties. Words such as “anticipates,” “expects,”
Slide 3: Diversified real estate development and agribusiness company
Tejon Ranch Co. is a diversified real estate development and agribusiness company committed to responsibly using our land and resources to meet the housing, employment, and lifestyle needs of Californians while at the same time creating value for our shareholders.
Slide 4: Value Proposition
VALUE PROPOSITION
Slide 5: Tejon Ranch regional location map
China Bakersfield Lake Mojave Tejon Ranch Edwards AFB Barstow Lancaster National Forest /Palmdale Santa Santa Clarita Victorville Barbara National San Forest Ventura Fernando Valley Pacific Inland Los Angeles Empire Santa Monica
Slide 6: Regional map of Southern California
China Bakersfield Lake Mojave Edwards AFB Barstow Lancaster National Forest /Palmdale Santa Santa Barbara Clarita Victorville National San Forest Ventura Fernando Valley Los Angeles Inland Santa Monica Empire
Slide 7: Regional map of California
China Bakersfield Lake Fort Irwin Edwards Vandenberg AFB National Forest 29 Palms Santa Barbara Ventura National Forest Los Angeles Inland Empire Orange County Camp National Pendleton Forest San Diego
Slide 8: Value Creation – Land Development Model
VALUE CREATION – LAND DEVELOPMENT MODEL
Slide 9: Operations Overview
OPERATIONS OVERVIEW
Slide 10: Tejon Ranch Commerce Center
TEJON RANCH (ams COMMERCE CENTER
Slide 11: Tejon Ranch Commerce Center
TEJON RANCH COMMERCE CENTER California Sacramento 5 HOURS
Slide 12: Tejon Ranch Commerce Center
TEJON RANCH COMMERCE CENTER
Slide 13: TRCC West, East and Total development statistics
TRCC WEST TRCC EAST TRCC TOTAL Development Acres 350 1,100 1,450 Acres Absorbed 258 108 366 Building SFT-Thousands 3,511 454 3,965 Remaining Acres 76 901 977 TEJON RANCH COMMERCE CENTER
Slide 14: The Outlets at Tejon Ranch
THE OUTLETS at TEJON RANCH
Slide 15: Resort/Residential Development
RESORT/RESIDENTIAL DEVELOPMENT
Slide 16: Tejon Mountain Village
Slide 17: Development size 26,000 acres
Development size- 26,000 acres Approved units- 3,450 Approved hotel keys- 700 Approved commercial- 160 acres
Slide 18: Centennial
Slide 19: Development size 11,000 acres
Development size- 11,000 acres Estimated units- 23,000 Estimated commercial- 970 acres
Slide 20: Grapevine Area
Grapevine Area Conceptual Mixed Use Plan 15,315 Acres
Slide 21: Conservation
Conservation Audubon California Endangered Habitats League Natural Resources Defense Council Planning and Conservation League Sierra Club
Slide 22: Mineral Resources
Mineral Resources Oil & Gas Mining
Slide 23: Oil & Gas
Oil & Gas Total lease acreage- 61,000 Acres committed to production- 7,300 December 31, 2012 active wells- 302 Oil production in 2012- 786,000 barrels Gas production in 2012- 547,000 MCF
Slide 24: Agriculture
Agriculture Almonds Pistachios Wine Grapes
Slide 25: Water Resources
WATER RESOURCES
Slide 26: Overview of Water Resources
Tejon Ranch Company Overview of Water Resources Sources of Water Acre Feet State Water Project (annual contract amount): Wheeler Ridge- Maricopa Water District 15,547 Tulare Water District 1,451 Dudley-Ridge Water District 1,993 Tejon-Castac Water District 5,278 Total State Water Project Water 100%
Slide 27: Financial Information
FINANCIAL INFORMATION
Slide 28: Current Liquidity
Tejon Ranch Company Current Liquidity March 31, 2013 ($ in Thousands) Cash 4,283 Marketable Securities 65,905 Total Cash/Securities 70,188 Line of Credit 30,000 Total Current Liquidity 100,188
Slide 29: Funding Sources
Funding Sources Power plant lease securitization Oil and mineral royalty securitization Leverage retail leases at TRCC Joint Ventures- new funding and distributions from existing Value of our TA/Petro joint venture Shelf Registration
Slide 30: Tejon Ranch: Preserving California's Legacy
TEJON RANCH PRESERVING CALIFORNIA’S LEGACY PROVIDING FOR CALIFORNIA’S FUTURE Location Entitled Land Mineral Resources
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