Solaris Energy Infrastructure, Inc. · NYSE:SEI
Solaris Energy Infrastructure — Solaris Oilfield Infrastructure — Merger or Acquisition (July 2024)
23 slides from Solaris Energy Infrastructure's merger presentation, Jul 9, 2024
Slide 1: Acquisition of Mobile Energy Rentals
Solaris Oilfield Infrastructure Acquisition of Mobile Energy Rentals July 9, 2024 solarisoilfield.com
Slide 2: Transaction Overview
Solaris Oilfield Infrastructure Transaction Overview Mobile Energy Rentals Overview (“MER”) • Premier provider of distributed power solutions serving the energy and commercial & industrial end-markets • Current fleet of mission-critical distributed power equipment is fully-utilized • Fleet scaling f
Slide 3: Transaction Highlights and Strategy
Solaris Oilfield Infrastructure Transaction Transaction Highlights Highlights and and Strategy Strategy • Leverage to high-growth end-markets, including data centers, other commercial & industrial Scale, End-Market Diversity applications and energy (upstream, midstream and downstream) and Contractua
Slide 4: Distributed Power Can Address Demand Growth Bottlenecks
Solaris Oilfield Infrastructure Distributed Power Can Address Demand Growth 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 Primary
Slide 5: Distributed Power Solutions Serve Fast Growing End-Markets
Solaris Oilfield Infrastructure Distributed Power Solutions Serve Fast Growing End-Markets Permian Power Demand to Grow ~5 GW Over Next Decade(1) U.S. Power Consumption Demand by Data Centers(2) (GW) (GW) 35 30 25 28 20 21 15 25 14 10 17 7 5 - 0 2024 2036 2022 2023 2024 2025 2026 2027 2028 2029 2030
Slide 6: MER Fleet Overview and Expansion Plan
Solaris Oilfield Infrastructure MER Fleet Overview and Expansion Plan MER has secured additional supply of mobile generation equipment Illustrative scale of power end-markets 21 units 2 units City of 30,000 MW Houston Current 120 33 153 MW Data Center 100-300 MW 23 units 21 units Large Oilfield Micr
Slide 7: Compelling Value Creation Opportunity
Solaris Oilfield Infrastructure Compelling Value Creation Opportunity Illustrative Range of Pro Forma Exit 2025 Adjusted EBITDA Outcomes ($ millions) Growth Range MER SOI $212 – $232 $75 – $95 (+) Potential for longer- Equipment term contracts to drive higher utilization on-order (2) $137 (+) Potent
Slide 8: Solaris' Scale and Infrastructure Position MER for Rapid Growth
Solaris Oilfield Infrastructure Solaris’ Scale and Infrastructure Position MER for Rapid Growth MER Market Growth Opportunity Strong Field Corporate Support Service Support Infrastructure In-House Manufacturing Proven Ability to Deploy & Repair & Engineering Mobile Equipment solarisoilfield.com 8
Slide 9: Sources & Uses and Capital Priorities
Solaris Oilfield Infrastructure Sources & Uses and Capital Priorities Illustrative Transaction Sources & Uses ($mm)1 Capital Allocation Priorities At Closing Sources Debt Financing $250 Uses Solaris Shares Issued to MER Owners $140 Balance Sheet Solaris Shares Issued to MER Owners 140 Cash to MER Ow
Slide 10: Renaming as Solaris Energy Infrastructure, Inc.
Solaris Oilfield Infrastructure Renaming as Solaris Energy Infrastructure, Inc. NYSE: SEI Providing distributed power to diverse and growing end-markets and all-electric material handling equipment to the oilfield Combined End-Market Exposure Opportunities Combined Mobile Product Offering Oilfield U
Slide 11: Combined Company Presents a Unique and Attractive Way to Play Electrification
Solaris Oilfield Infrastructure Combined Company Presents a Unique and Attractive Way to Play Electrification Selected Publicly-Traded Comparables: EV / 2025 Consensus Adjusted EBITDA Multiple and Current Dividend Yield (As of July 5, 2024) EV / 2025 EBITDA Dividend Yield 18x 7% 16.1x 15.8x 16x 6% E
Slide 12: Key Takeaways
Solaris Oilfield Infrastructure Key Takeaways Acquisition of Mission- Materially Diversifies and Experienced and Aligned Critical Distributed Power Scales Solaris By Adding a Management Teams with Infrastructure which Remains New Product Line and Material Ownership of in Short Supply Multiple New En
Slide 13: Q2 2024 Financial Update
Solaris Oilfield Infrastructure Solaris Q2 2024 Financial Update solarisoilfield.com
Slide 14: Q2 2024 Financial Update
Solaris Oilfield Infrastructure Q2 2024 Financial Update $70 - $75 $20 - $21 $16 Million $11 Million Million Million Total Debt at Net Debt at Revenue Adj. EBITDA Quarter End Quarter End solarisoilfield.com 14
Slide 15: Appendix
Solaris Oilfield Infrastructure Appendix solarisoilfield.com
Slide 16: MER Fleet Overview
Solaris Oilfield Infrastructure MER Fleet Overview Solar Turbine’s mobile units are purpose-built for on-demand, distributed generation capacity that is both economic and environmentally- friendly. They are designed for projects where fast setup and reliable operations are critical. ~153 MW owned ca
Slide 17: Solaris Snapshot (NYSE: SOI)
Solaris Oilfield Infrastructure Solaris Snapshot (NYSE: SOI) (1) Annualized total gross margin per frac crew followed in Q1 2024 as compared to 2019, excluding transloading. solarisoilfield.com 17
Slide 18: Has Maintained a Leading Market Position Throughout the Cycle
Solaris Oilfield Infrastructure Solaris Has Maintained a Leading Market Position Throughout the Cycle Expanded Solaris Offering Drives Higher Earnings Power1 High Customer Renewal Rates3 $123 $113 $97 $84 $87 85%-90% Customer 380 Stickiness SOI Adjusted EBITDA ($ millions) US Frac Crews Fully Utiliz
Slide 19: All-Electric, Integrated Offering Drives Efficiency in the Low-Pressure Completions Value Chain
Solaris Oilfield Infrastructure All-Electric, Integrated Offering Drives Efficiency in the Operations supported by field service and real- time monitoring through Solaris software suite Low-Pressure Completions Value Chain Top Fill Sand Loading System - Internal equipment design and manufacturing ca
Slide 20: Solaris' All-Electric, Integrated Offering Drives Efficiency in the Low-Pressure Completions Value Chain
Solaris Oilfield Infrastructure Solaris’ All-Electric, Integrated Offering Drives Efficiency in the Low-Pressure Completions Value Chain solarisoilfield.com 20
Slide 21: Disclaimer
Solaris Oilfield 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
Slide 22: Disclaimer
Solaris Oilfield Infrastructure Disclaimer About Non-GAAP Measures In addition to financial results determined in accordance with generally accepted accounting principles in the United States (“GAAP”), this news release presents non-GAAP financial measures. Management believes that Adjusted EBITDA,
Slide 23: Solaris Oilfield Infrastructure
Solaris Oilfield Infrastructure Solaris Oilfield, Inc. 9651 Katy Freeway, Suite 300 Follow us on LinkedIn Houston, Texas 77024 solarisoilfield.com 23
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