Dalrymple Bay Infrastructure Ltd. · ASX:DBI
Dalrymple Bay Infrastructure — Shareholder Meeting (May 2024)
32 slides from Dalrymple Bay Infrastructure's shareholder meeting presentation, May 22, 2024
Slide 1: 2024 Annual General Meeting
ASX Announcement 22 May 2024 2024 Annual General Meeting In accordance with ASX Listing Rule 3.13.3, Dalrymple Bay Infrastructure Limited (ASX:DBI) (“DBI” or “the Company”) releases the following materials for the Company’s 2024 Annual General Meeting of securityholders to be held at 10.00am (AEST)
Slide 2: Chair's Address
Dalrymple Bay Infrastructure Annual General Meeting 2024 Chair’s Address The 2023 financial year (FY‑23) represented the first full financial year since we completed the successful negotiations with customers of 10‑year pricing agreements under the light‑handed regulatory framework. These revised co
Slide 3: Distributions and Conclusion
purposes, without impacting coal capacity or throughput. DBI’s feasibility studies into the potential for hydrogen and alternative energy exports through DBT are an example of this approach; and • Proactively reviewing opportunities to develop or acquire other high quality infrastructure assets. The
Slide 4: CEO's Address
CEO’s Address Thank you David. It is a pleasure to stand before you today as Chief Executive Officer at my first Annual General Meeting for Dalrymple Bay Infrastructure Limited (DBI). After being in the role for just over 2 months now, I can say that I am very excited about the potential of, and wit
Slide 5: FY23 Operational and ESG Highlights
Slide 8: FY23 Operational and ESG Highlights Operationally, our terminal handled more than 61.1 million tonnes of coal during FY-23, of which 71% was metallurgical coal, exported to 23 countries. As a reminder, our terminal remains fully contracted at 84.2mtpa to June 2028, via take or pay contracts
Slide 6: Terminal Infrastructure Charge components
comprises: • A Base TIC that is indexed annually in line with the Australia all groups Consumer Price Index (CPI); • A non-expansionary capital expenditure Charge that reflects a return on and a return of invested capital; and • The QCA Levy which is a pass through of the Queensland Competition Auth
Slide 7: 8X Project and NECAP growth
The potential 8X Project is expected to deliver up to 14.9Mtpa of additional capacity and this project can be delivered in phases. We have strong demand for new capacity in the access queue, with approximately 50% of the capacity requests coming from current DBT Users. The 8X Project is focused on t
Slide 8: Strategic priorities over the next 12 months
Applying those skills and capability to enhance and/or unlock the value in other businesses or assets will be the lens through which we assess opportunities. In doing so, we remain mindful of the key attributes of our existing business and any opportunities pursued will take into account those facto
Slide 9: Annual General Meeting
Annual General Meeting 22 May 2024 Brisbane
Slide 10: Today's presenters and agenda
Today’s presenters and agenda 01 DBI’s Board and Executive Team 02 Chair’s Address 03 Chief Executive Officer’s Address The Hon Dr David Hamill AM Michael Riches Chair Chief Executive Officer 04 Formal Business of Meeting 05 Closure of meeting 2 Annual General Meeting| May 2024
Slide 11: DBI's Board of Directors
DBI’s Board of Directors Jonathon Sellar Non-Executive Director 3 Annual General Meeting| May 2024
Slide 12: DBI's Executive Team
DBI’s Executive Team 4 Annual General Meeting| May 2024
Slide 13: Chair's Address
Chair’s Address 5
Slide 14: CEO's Address
CEO’s Address
Slide 15: FY-23 financial overview
FY-23 financial overview EBITDA1 Debt Tenor2 Distribution Growth TIC Rate $261.3m 7.7 years 20.8 cps $280m $3.44/t -1.1% vs FY-22 +1.3 years vs FY-22 +8.4% vs FY-22 of capital projects 8.4% uplift in TY- commenced in FY-23 23/24 vs TY-22/233 1. FY-22 EBITDA has been normalised by reversing the $3.6m
Slide 16: FY-23 operational and ESG highlights
FY-23 operational and ESG highlights 61.1mt 71% 23 21 Countries serviced by Mines in the Bowen basin Of Coal Exported Of FY-23 exports were exports though DBT serviced by DBT in FY-23 metallurgical coal DBT’s new electricity Zero arrangements with 99% fatalities or serious 100% of water utilised was
Slide 17: Investment grade balance sheet
Investment grade balance sheet Investment grade credit profile with a weighted average tenor of 7.7 years and diversified funding sources1,2 Funding Source1,2 • ~$2.67 billion of total limits of which ~$2.16 billion is currently drawn (By Facility Limit, %) • Weighted average tenor of 7.7 years3 • U
Slide 18: TY 24/25 distribution guidance and forecast TIC
TY 24/25 distribution guidance and forecast TIC Forecast Terminal Infrastructure Charge (TIC) TY-24/25 Distribution Guidance • Forecast TIC applicable at Dalrymple Bay Terminal (DBT) for TY- • Distribution guidance for the 12 months commencing 1 July 2024 24/25 of ~$3.59 per tonne1, up ~4.2% versus
Slide 19: Stable and growing revenue profile
Stable and growing revenue profile TIC revenue is not impacted by: Resulting in: • Coal throughput or prices – due to take-or-pay contracts • Predictability of cashflows • Force Majeure events1 • EBITDA growth expected to outpace inflation with inflation-linked Base TIC and organic revenue • Custome
Slide 20: Organic growth opportunities
Organic growth opportunities NECAP 8X EXPANSION HYDROGEN • NECAP spend over the decade to 2031 is • 8X is an incremental optimisation project of the • A funding agreement to complete expected to be over $500m existing terminal feasibility studies on the ability of the terminal to • Proposed NECAP sp
Slide 21: DBI's Core Competitive Advantages
DBI’s Core Competitive Advantages Our competitive advantages along with the long-term resilience of DBT provide the opportunity to develop a portfolio of assets via organic and external growth opportunities 1 2 3 4 5 Regulatory Capital deployment Operational Funding Key expertise capability expertis
Slide 22: Strategic priorities over the next 12 months
Strategic priorities over the next 12 Months 1 Delivering organic revenue growth through the implementation of approved NECAP Projects Progressing opportunities to capture long-term Bowen Basin metallurgical coal production 2 via our continued economic assessments of the 8X Project, as part of the F
Slide 23: Glossary
Glossary $ Australian Dollar unless otherwise stated FFO Funds From Operations means EBITDA less net interest expense and less any /t Per metric tonne cash tax payable. 8X Project Expansion program to bring terminal capacity to 99.1Mtpa Group DBI and its wholly owned or controlled entities AU Access
Slide 24: Formal Business of Meeting
Formal Business of Meeting
Slide 25: Ordinary Business Item 1
Ordinary Business Item 1 Financial Report, Directors’ Report and Auditor’s Report To receive and consider the Financial Report of the Company and its controlled entities and the Reports of the Directors and Auditor for the period ended 31 December 2023. 17 Annual General Meeting| May 2024
Slide 26: Item 2 - Ordinary Business
Item 2 - Ordinary Business Election of Director – Jonathon Sellar In accordance with the ASX Listing Rules and the Constitution of the Company, Jonathon Sellar is retiring, and being eligible, offers himself for election to the Board of the Company To consider and, if thought fit, pass the following
Slide 27: Jonathon Sellar, Non-Executive Director
Jonathon Sellar Non-Executive Director 19 Annual General Meeting| May 2024
Slide 28: Proxy Summary - Item 2
Proxy Summary - Item 2 Election of Director – Jonathon Sellar Proxy Summary1 For Against Open/Discretionary Total 262,146,592 68,858,322 520,976 331,525,890 79.07% 20.77% 0.16% 66.87% (as a % of issued capital) 437,476 of these discretionary votes are held by the Chair and will be voted in favour of
Slide 29: Item 3 - Ordinary Business
Item 3 - Ordinary Business Adoption of Remuneration Report To consider and, if thought fit, pass the following resolution as an ordinary resolution: Resolution 2: That the Remuneration Report for the reporting period ended 31 December 2023 be adopted. The Remuneration Report is set out on pages 34-5
Slide 30: Proxy Summary - Item 3
Proxy Summary - Item 3 Adoption of Remuneration Report Proxy Summary1 For Against Open/Discretionary Total 329,647,880 1,150,503 520,976 331,319,359 99.50% 0.35% 0.16% 66.83% (as a % of issued capital) 437,476 of these discretionary votes are held by the Chair and will be voted in favour of the reso
Slide 31: Closure of Meeting
Dalrymple Bay Infrastructure Closure of Meeting
Slide 32: 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 No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the This pres
Dalrymple Bay Infrastructure — Shareholder Meeting (May 2024) on 6ix