Solaris Energy Infrastructure, Inc. · NYSE:SEI
Solaris Energy Infrastructure — Investor Presentation (December 2024)
26 slides from Solaris Energy Infrastructure's investor presentation, December 2024
Slide 1: Solaris Energy Infrastructure, Inc. Investor Presentation
Solaris Energy Infrastructure, Inc. Investor Presentation December 2024
Slide 2: Solaris Energy Infrastructure
Solaris Energy Infrastructure Solaris Energy Infrastructure, Inc. NYSE: SEI; ~$1.8 Billion Market Capitalization(1) Provides power-as-a-service to multiple end markets with scalable equipment-based solutions for behind-the-meter generation; also provides raw material handling services for the energy
Slide 3: Investment Highlights and Strategy
Solaris Energy Infrastructure Investment Transaction Highlights Highlights and and Strategy Strategy • Existing customer base has expressed growth plans that exceed current available MWs, prompting a Demonstrated Growth recently placed order for an additional 145 MW (~27% fleet increase) + ancillary
Slide 4: Solaris Earnings Undergoing a Significant Transformation
Solaris Energy Infrastructure Solaris Earnings Undergoing a Significant Transformation Driven by recent “behind-the-meter” power solutions acquisition and associated growth capital plans Illustrative EBITDA Contribution by Business Segment; Illustrative Potential Annual Adjusted EBITDA Contribution
Slide 5: Scaling to Become a Premier Behind-the-Meter Power Solutions Company
Solaris Energy Infrastructure Scaling to Become a Premier “Behind-the-Meter” Power Solutions Company Early Mover Advantage in Addressing Nascent and Rapidly Growing Market Opportunity 2026+ July 2024 Fleet Pro Forma Fleet (Current + On order) Multi-year, unprecedented power demand growth opportunity
Slide 6: Behind-the-Meter Power Accelerating due to Growing Market Demand and Grid Access Challenges
Solaris Energy Infrastructure Behind-the-Meter Power Accelerating due to Growing Market Demand and Grid Access Challenges Data Center and Permian Electricity Demand Projected to Grid Interconnectivity Queues from Request to Completion Significantly Outpace Overall U.S. Demand 3.2 SPS Exit 2025 Fleet
Slide 7: Market Tightness Driving Robust Contract Profile and Additional Commercial Opportunities
Solaris Energy Infrastructure Market Tightness Driving Robust Contract Profile and Additional Commercial Opportunities Customer End Market Exposure of Expected 1H 2026 Fleet (680 MW) Energy exposure is production-oriented, on Data center exposure is with a rapidly longer-term contracts and, in turn,
Slide 8: Balance of Plant Increasingly Critical to Power-as-a-Service Model
Solaris Energy Infrastructure ‘Balance of Plant’ Increasingly Critical to Power-as-a-Service Model Solaris Provides Turnkey Service which Includes the Integrated Provision of Turbines, Transformers, Switchgear, and other Ancillary Equipment Recent SCR emissions control technology order enables Suppl
Slide 9: Case for Longer-Term Behind-the-Meter Power Solutions
Solaris Energy Infrastructure Case for Longer-Term Behind-the-Meter Power Solutions Evolution of Contract Tenor Since Deal Announcement Factors Leading to Tenor Extension Favorable economic option compared to line Behind the meter power can provide both power today, with longer term structural cost
Slide 10: Building a Competitive Advantage Through Scale, Breadth, Expertise and Service
Solaris Energy Infrastructure Building a Competitive Advantage Through Scale, Breadth, Expertise and Service The Solaris Execution Model… …Drives Compelling Value and Growth Opportunity Reliability: High uptime performance Strong fleet utilization Longer-tenor contracts Technical Expertise: Skil
Slide 11: Team Track Record: Built and Sustained a Leading Market Position in Logistics Solutions
Solaris Energy Infrastructure Team Track Record: Built and Sustained a Leading Market Position in Logistics Solutions Cost Effective and Reliable Services Drive Sustained Market Position Thru-Cycle Leading Market Position 50% Early Stage/ New SEI <1% Rapid Maturation + Product Adoption New Product/A
Slide 12: Logistics Solutions: Continued to Innovate and Drive Earnings Power
Solaris Energy Infrastructure Logistics Solutions: Continued to Innovate and Drive Earnings Power Evolution of Solaris Logistics Product and Service Offering Impact of Adding New Product Adjacencies 100% $1.9 $2.0 Top Fill System More than doubled earnings (added in 2022) 90% power per location serv
Slide 13: Solaris' Track Record and Framework for Generating Sustainable Returns
Solaris Energy Infrastructure Solaris' Track Record and Framework for Generating Sustainable Returns Experienced Management Team Returns Framework Management team has successfully addressed equipment-based bottlenecks and built Identify the Invest in the Right differentiated businesses in: Challenge
Slide 14: A Unique Way to Invest in Electrification – Trading at a Discount
Solaris Energy Infrastructure A Unique Way to Invest in Electrification – Strong Returns History Trading at a Discount Bloomberg 7-Year Average Operating Return on Total Invested Bloomberg EV/2026 Consensus Adjusted EBITDA Multiple Capital (%, Unadjusted 2017-2023)(1) (As of 12/19/24) 18% 19x 19x 15
Slide 15: Current Growth Capital Plans to Grow to 680 MW and Add Balance of Plant
Solaris Energy Infrastructure Current Growth Capital Plans to Grow to 680 MW and Add to Balance of Plant in 1H 2026 Growth Capital Strategy Elements Total Company Capex Driven by Existing Power Solutions Order Book ($ millions) Significant early-mover Power Growth advantage Power Maintenance Logisti
Slide 16: Founder-Led and Owned with Strong Balance Sheet and Capital Priorities
Solaris Energy Infrastructure Founder-Led and Owned with Strong Balance Sheet and Capital Priorities Selected Balance Sheet / Capitalization Highlights ~46% $0.48 $325mm $75mm Insider Ownership (1) Annualized Dividend Term Loan B ABL Commitment per share (currently undrawn) Pro Forma Ownership Profi
Slide 17: Key Takeaways
Solaris Energy Infrastructure Key Takeaways Provides Critical, Behind-the- Contract Coverage at Longer- Aligned, Founder-Led Meter Power Infrastructure term Tenors Significantly Management Team with Which Remains in Short Supply Derisks Cash Flows and Material Ownership of and is Deployed With Suppo
Slide 18: Appendix
Solaris Energy Infrastructure Appendix solaris-energy.com 18
Slide 19: Company Values
Solaris Energy Infrastructure Company Values solaris-energy.com 19
Slide 20: Rapid Electric Demand Growth Creating Delivery Bottlenecks
Solaris Energy Infrastructure Rapid Electric Demand Growth Creating Delivery Bottlenecks Grid constraints lead to multiple points of opportunity along the value chain Onsite Distributed Power – Fast, Reliable, Reliance on Grid Alone can be Challenging; High Disruption/Delay Risk and Efficient Primar
Slide 21: Pro Forma Fleet Consists of Units That Can Provide Quick Deployment and Are Configurable
Solaris Energy Infrastructure Pro Forma Fleet Consists of Units That Can Provide Quick Deployment and Are Configurable Configurable units allow for greater variety of applications Illustrative Scale of Power End Markets City of Houston 30,000 MW Data Center 100-300 MW Large Oilfield Microgrid 70 MW
Slide 22: Optimizing Power Density Footprint
Solaris Energy Infrastructure Optimizing Power Density Footprint Illustrative Benefit of Having a Range of Larger Unit Sizes solaris-energy.com 22
Slide 23: Solaris' All-Electric, Integrated Offering Drives Efficiency in the Low-Pressure Completions Value Chain
Solaris Energy Infrastructure Solaris’ All-Electric, Integrated Offering Drives Efficiency in the Low-Pressure Completions Value Chain solaris-energy.com 23
Slide 24: EBITDA and Adjusted EBITDA Reconciliation
Solaris Energy Infrastructure EBITDA and Adjusted EBITDA Reconciliation Three months ended, Twelve months ended December 31, ($ in 000s) September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 2023 2022 2021 Net income (loss) ($2,210) $9,824 $7,300 $6,959 $38,775 $33,512 ($1,260) Depreciat
Slide 25: Disclaimer
Solaris Energy Infrastructure Disclaimer Forward-Looking Statements The information in this presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Examples of fo
Slide 26: Solaris Energy Infrastructure
Solaris Energy Infrastructure Solaris Energy Infrastructure 9651 Katy Freeway, Suite 300 Follow us on LinkedIn Houston, Texas 77024 solaris-energy.com 26
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