Slide 1: Annual results presentation
See Change. Digital 9 Infrastructure plc Critical infrastructure for our connected world, Annual results presentation with long-term, contracted, inflation-protected income For the twelve-month period ended 31 December 2023
Slide 2: Presentation and Agenda
PRESENTATION AND AGENDA THE PRESENTER AGENDA Fund Highlights 3 Financial Review 6 Portfolio Review 15 Diego Massidda Head of Digital Infrastructure 2
Slide 3: Fund Highlights
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Slide 4: Key Highlights
KEY HIGHLIGHTS Improved financial resilience Resilient portfolio through balance sheet deleveraging performance and valuations (down Revised investment policy approved post Verne sale (RCF >85% 3% excl. Verne) by shareholders cancelled) 1 Seeking balance Proceeds allocation to prioritise Orderly Man
Slide 5: Deleveraging and Wind Down Process
DELEVERAGING AND WIND DOWN PROCESS Sale of Verne Global Next steps for Remaining Assets Up to US$575m equity purchase price Processes commenced for 100% sale Received US$415m initial purchase price (March) Aqua Comms EMIC-1 and US$25m deferred consideration (April) Elio Networks Sea Edge UK 1 Achiev
Slide 6: Financial Review
Financial Review
Slide 7: Financial Highlights as at 31 December 2023
FINANCIAL HIGHLIGHTS AS AT 31 DECEMBER 2023 79.3 pence £676 million £1.1 billion £257 million IFRS Investment Valuation Adjusted Gross Asset Value Market Capitalisation Portfolio fair value on an IFRS basis as at Total assets of the Company adjusted to IFRS NAV per share 31 December 2023, a 27% redu
Slide 8: Statement of Comprehensive Income – 1 January to 31 December 2023
STATEMENT OF COMPREHENSIVE INCOME – PERIOD FROM 1 JANUARY 2023 TO 31 DECEMBER 2023 12-month period to 12-month period to £m 31 December 2023 31 December 2022 Unrealised fair value gain / (loss) on £252m financial assets (252.0) 97.2 FAIR VALUE LOSS ON INVESTMENTS Distributions from investments 31.4
Slide 9: Statement of Financial Position – 31 December 2023
STATEMENT OF FINANCIAL POSITION – 31 DECEMBER 2023 £m 31 December 2023 31 December 2022 Investments at fair value through £676m 676.1 921.0 profit & loss Investments held at fair value (inc. SH Loan to D9 Hold Co) Trade and other receivables 1.4 1.4 (27% fall since December 22) Cash and cash equival
Slide 10: IFRS Valuation by Asset: December 2022 to December 2023
IFRS VALUATION BY ASSET: DECEMBER 2022 TO DECEMBER 2023 Remaining portfolio Exited (Mar. 2024) Change in portfolio company NAV Financial Period (Dec. 2022 to Dec. 2023) £517m Full portfolio (inc. Verne Global) (14%) Remaining portfolio (ex. Verne Global) (3%) £372m £355m £341m £235m £223m £59m £55m
Slide 11: Portfolio Valuation Bridge and IFRS Valuation Reconciliation
PORTFOLIO VALUATION BRIDGE AND IFRS VALUATION RECONCILIATION £m 11
Slide 12: 28% Decrease in NAV per Share Driven by Valuation, FX, Financing Costs and Dividend Payments
28% DECREASE IN NAV PER SHARE DRIVEN BY VALUATION, FX, FINANCING COSTS AND DIVIDEND PAYMENTS £p/share 1 1 1..5p paid in March 2023 and 1.5p paid in June 2023. 12
Slide 13: Leverage
LEVERAGE Significant deleveraging post the reporting date, with £273.5 million repaid to date and a further c.£47 million to follow on 3 May Pro-forma as at Leverage Net Debt / EBITDA (£m) 31 Dec 2023 Adjustments 31 March 20241 • D9’s aggregate level of borrowings is expected to be no more than a Dr
Slide 14: Liquidity
LIQUIDITY As at 31 March 2024, the Group had unrestricted cash on hand of £27.1m Group Cash Position Total Group Cash (£m) 31 March 2024 31 December 2023 D9 PLC Unrestricted Cash Balance 22.1 14.8 • As at the period end, the Group held total cash of £49.4 million. Of this, unrestricted cash availabl
Slide 15: Q&A Session
Q&A SESSION 15
Slide 16: Portfolio Review
Portfolio Review
Slide 17: Portfolio Operating Performance: Verne Global Group (Exited)
PORTFOLIO OPERATING PERFORMANCE: VERNE GLOBAL GROUP (EXITED) ICELAND | FINLAND | LONDON Shifting energy-intensive, latency-insensitive data sets to geographies with low-cost green power £372m Valuation Business Update Financial Highlights Financial Period 2023 2022 • Revenue increased by 22% to £50.
Slide 18: Portfolio Operating Performance: Aqua Comms
PORTFOLIO OPERATING PERFORMANCE: AQUA COMMS EMIC-1 Providing the backbone to the internet in the Northern Hemisphere and Asia £258m Valuation2 Business Update Financial Highlights Financial Period 2023 2022 • Revenue increased by 4% in 2023 mainly driven by increased sales in Aqua Comms’ lease busin
Slide 19: Portfolio Operating Performance: Sea Edge UK1
PORTFOLIO OPERATING PERFORMANCE: SEA EDGE UK1 Data centre asset and subsea fibre landing station, located in Newcastle on the UK's largest purpose-built £14m data centre campus. Valuation Business Update Financial Highlights Financial Period 2023 2022 • Revenue and EBITDA growth driven by positive r
Slide 20: Portfolio Operating Performance: Elio Networks
PORTFOLIO OPERATING PERFORMANCE: ELIO NETWORKS Providing reliable internet to Dublin’s underserved high-end business broadband market £55m Valuation Business Update Financial Highlights Financial Period 2023 2022 • Revenue growth driven by shifting focus to higher quality and capacity enterprise con
Slide 21: Portfolio Operating Performance: Arqiva
PORTFOLIO OPERATING PERFORMANCE: ARQIVA The UK’s pre-eminent national provider of TV and radio broadcast infrastructure £341m A leading provider of end-to-end connectivity solutions in the media and utilities industries Valuation1 Business Update Financial Highlights2 Financial Period 2023 2022 • St
Slide 22: Disclaimer
DISCLAIMER THIS DOCUMENT IS STRICTLY CONFIDENTIAL AND IS BEING PROVIDED TO YOU SOLELY FOR GENERAL INFORMATION ONLY REGARDING DIGITAL 9 INFRASTRUCTURE PLC. INVESTORS SHOULD NOT SUBSCRIBE FOR OR PURCHASE SHARES ON THE BASIS OF INFORMATION CONTAINED IN THIS PRESENTATION OR IN RELIANCE ON THIS PRESENTAT
Slide 23: Thank You for Attending
U2? INFRASTRUCTURE THANK YOU FOR ATTENDING 23