Maxim Power Corp. · TSX:MXG
Maxim Power — Investor Presentation (June 2020)
14 slides from Maxim Power's investor presentation, June 2020
Slide 1: Investor Update – June 2020
Power Corp Investor Update — June 2020
Slide 2: Forward-Looking Statements
Forward-Looking Statements Certain statements contained in this presentation constitute forward-looking statements or information (collectively "forward-looking statements") in respect of MAXIM Power Corp. ("MAXIM") within the meaning of applicable securities legislation, including, but not limited
Slide 3: Forward-Looking Statements
Forward-Looking Statements This document also contains Future Oriented Financial Information ("FOFI") within the meaning of applicable securities laws, in particular the information set forth herein in respect of expected indicative consolidated EBITDA for MAXIM upon commissioning of M2, based on ce
Slide 4: Highlights
Highlights Independent Power Producer Alberta based wholesale seller of electricity and generating capacity Strategy Establish sustainable ventures in organized power markets Acquire or develop assets Optimize and enhance existing assets Re-deploy capital when appropriate to realize shareholder valu
Slide 5: Market Profile
Market Profile TSX Listing MXG MXG Closing Price 3 52 Week Range $1.03 - $2.31 2.5 Share Price $2.13 2 Shares Outstanding 50.1 million 1.5 Market Capitalization $106.8 million 1 Insider Shareholdings 65.7% 0.5 0 5
Slide 6: Leadership Team
Leadership Team M. Bruce Chernoff W. Brett Wilson Chairman & CEO Vice Chairman Over 30 years of senior corporate Over 30 years of senior corporate experience in oil & gas and power experience in oil & gas, power and sectors. investment banking sectors. Mike Mayder Bob Emmott President & CFO Executiv
Slide 7: History of MAXIM
History of MAXIM Track record of acquiring and developing generation projects during early stages of deregulated power markets and redeploying capital as markets mature Over the past 15 years MAXIM built up and successfully sold investments in United States, France and Canada Currently focussed on o
Slide 8: MAXIM's Alberta Assets
MAXIM's Alberta Assets Operating Asset – M2 SCGT Expansion Project – M2 CCGT • 204 MW natural gas-fired generation facility • MAXIM is advancing its option to expand M2 • Located on the HR Milner site using heat recovery technology that enables operation in combined cycle mode • Operation in simple
Slide 9: Operating Asset – M2 SCGT
Operating Asset – M2 SCGT Project Info Milner 2 - SCGT Nameplate Capacity (MW) 204 Technology Simple Cycle Heat Rate (GJ/MWh) 10.5 Commercial Operation June 2020 Installed cost (excluding financing) $147 mm Competitive Advantage Construction CAPEX/kW $721/kW for M2 SCGT vs. ~$1,200/kW for new SCGT E
Slide 10: Operating Asset – M2 SCGT
; SU I< . CEG ee ON : So > Operating Asset — M2 SCGT
Slide 11: M2 Development Phases
M2 Development Phases Phase I - Simple Cycle - Phase II - Combined Cycle Upgrade Option Operating New Equipment New Equipment Existing Milner Installation Heating Loop Exhaust Flow Condenser HRSG Water (heat GT (boiler) exchanger) Steam Steam Stack ST Electricity Electricity Hot Cooling Loop ~ ~ Coo
Slide 12: Alberta Power Market - Prices
Alberta Power Market - Prices $100.00 Actual Forecast $90.00 $80.00 $70.00 $60.00 $/MWh $50.00 $40.00 $30.00 $20.00 $10.00 $0.00 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2016/2017 low price periods resolved by t
Slide 13: MAXIM EBITDA Sensitivities
MAXIM EBITDA Sensitivities Consolidated Indicative Annualized EBITDA Power/Gas Price Forecast ($ millions) Power ($/MWh) Power ($/MWh) Gas ($/GJ) $45 $50 $55 $60 $65 $70 $95 $3.50 $1.50 $19.0 $26.9 $34.8 $42.7 $50.6 $58.5 $90 $3.00 $85 $1.75 $14.9 $22.8 $30.7 $38.6 $46.5 $54.4 Gas ($/GJ) $80 $2.50 $
Slide 14: MAXIM's Credit Facilities
MAXIM’s Credit Facilities ATB Facility Convertible Facility* Capacity $44.0 mm $75.0 mm Drawn, June 2020 $40.0 mm $28.7 mm Undrawn $4.0 mm $46.3 mm Ranking Senior Subordinated to ATB Interest Rate Floating 12% Term Facilities mature Nov. 19, 2022 Facility matures Sept. 25, 2021 (including extensions