Montauk Renewables, Inc. · NASDAQ:MNTK
Montauk Renewables — FY2025 Earnings Presentation
16 slides from Montauk Renewables's earnings presentation, Mar 12, 2026
Slide 1: Investor Presentation – Full Year 2025 Results
Investor Presentation FULL YEAR 2025 RESULTS MARCH 12, 2026
Slide 2: Cautionary Statement Regarding Forward-Looking and non-GAAP Financial Information
Cautionary Statement Regarding Forward-Looking and non-GAAP Financial Information This presentation contains “forward-looking statements” within the meaning of U.S. federal securities laws. Such statements include those relating to estimated and projected financial condition, results of operations,
Slide 3: Financial Performance – Income Statement
Financial Performance Income Statement 3
Slide 4: Operational Results – Year Ended December 31, 2025
Operational Results – Year Ended December, 31, 2025 (in thousands, unless otherwise indicated) All comparisons are between the year ended December 31, 2025 and the year ended December 31, 2024, unless otherwise indicated, for our key operating business metrics Renewable Natural Gas (“RNG”) Metrics –
Slide 5: Operational Performance – Operating Metrics
Operational Performance Operating Metrics 5
Slide 6: Financial Performance – Balance Sheet
Financial Performance Balance Sheet 6
Slide 7: Cash Flow
Cash Flow (in thousands, unless otherwise indicated) Operating items affecting net income include: – $29,972 depreciation, depletion, and amortization – $7,014 adjustments to working capital and other assets and liabilities – $4,444 accounting for stock-based compensation – $3,231 accounting for imp
Slide 8: RINs Generated but Unsold
Business Development RINs Generated but Unsold (in thousands, unless otherwise indicated) Select historical data related to RINs generated, RINs unsold, and RINs generated but unsold: Our profitability is highly dependent on the market price of Environmental Attributes, including the market price fo
Slide 9: Capital Development Summary
Business Development Capital Development Summary (in thousands, unless otherwise indicated) The following summarizes our ongoing development growth plans, expected capacity contribution, anticipated commencement of operations, and capital expenditure estimate, excluding the Montauk Ag Renewables Dev
Slide 10: RNG Facility Developments – 2025 Highlights
Business Development RNG Facility Developments – 2025 Highlights Second Apex RNG Facility: – Commissioned in June 2025 – Increased 2025 RNG production by 7.8% compared to 2024 Pico Digestion Capacity Increase: – Began processing final tranche and made final contractual payment – Increased 2025 RNG p
Slide 11: RNG Facility Developments – 2025 Highlights
Business Development RNG Facility Developments – 2025 Highlights Rumpke RNG Relocation: – Contractual obligation to relocate existing facilities – Capital investment to coincide with landfill host filling practices – Landfill host requested design modification for CNG filling station – Commissioning
Slide 12: Montauk Ag Renewables – 2025 Highlights
Business Development Montauk Ag Renewables – 2025 Highlights (in thousands, unless otherwise indicated) – Annual REC capacity to be approximately 120 RECs – 10 year power purchase agreement for first phase of electric production – Average price of $48/MWh is in line with Southeast US power markets –
Slide 13: Alternative Fuel Source Development
Business Development Alternative Fuel Source Development (in thousands, unless otherwise indicated) Biogenic Carbon Dioxide (“CO2”) Beneficial Use: – Signed contract to deliver 140 tons of CO2 from two Texas facilities – 15-year contract with European Energy North America – Completed initial site su
Slide 14: GreenWave Joint Venture – 2025 Highlights
Business Development GreenWave Joint Venture – 2025 Highlights (in thousands, unless otherwise indicated) Equity method investment in GreenWave – Joint venture with Pioneer Renewables Energy Marketing – Matches available third party RNG capacity to dispensing opportunities – Separated RINs in 2025 r
Slide 15: Appendix
Appendix MONTAUK
Slide 16: Non-GAAP Reconciliation – EBITDA and Adjusted EBITDA
Non-GAAP Reconciliation EBITDA and Adjusted EBITDA (in thousands, unless otherwise indicated) 16