Pure Cycle Corporation · NASDAQ:PCYO
Pure Cycle — Q1 2021 Earnings Presentation
23 slides from Pure Cycle's earnings presentation, 2021
Slide 1: 1.
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Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT hange Act of 1934 as amended. FLS involve ‘s and uncertainties that could cause actual results to differ from projected results. The words “anticipate,” “believe,” estimate, pect,” “plan,” “intend” and similar expressions, as they relate to us, are intended to identify FLS. Suc
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Slide 4: Water Infrastructure
Water Infrastructure Sky Ranch _ Acre-Feet of — Water Rights Groundwater / Miles of Wells f ~. Distribution Pipeline Acre-Feet of Miles of Surface Transmission Storage Pipeline Wastewater Reclamation Facilities Million Gallons ~ of Water - Storage
Slide 5: Land Development
Land Development + Developing the 930 acre master planned community, "Sky Ranch" + Can accommodate up to 3,200 residential lots + Can Accommodate up to 2 million square feet of commercial development (equivalent to 1,600 SFE's) + 15 miles east of downtown Denver and 4 miles south of DIA
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Slide 7: Sky Ranch Development
Sky Ranch Development
Slide 8: Sky Ranch Filing
Sky Ranch Filing 1 Neighborhood B aaa repeuevire aes daa9, 89 3s $3.3 2 bs e 1 Lots Sold See —_ = Patt talis| Homes Under Construction 506 Lots Sold to 3 a 115 Homes are under national home builders . : construction at avg of 27 for 36.7 million Lots Delivered Homes Occupied completed per month. All
Slide 9: Total Platted Lots and Lots Under Contract
895 Total Platted Lots Anticipated 789 Lots Under Contract 106 Lots retained for future use
Slide 10: Attached and detached homes
Attached and detached homes (paired duplex and townhomes) will be added on lots sized 32', 45' and 50' Some will be alley loaded homes 1st Lot Deliveries expected ; in Winter vy 2021 Projected lot sales » and reimbursable expenses January 2021 scheduled to start grading
Slide 11: Sky Ranch
Sky Ranch 140M 140m S 120M 120M, we et g 100m 100m gs & . 80M 80M o ew f 36,674,000 72,600,000 o 65,500,000 Filing 1 Revenues Filing 2 Revenues Filing 2 Costs @ Lotsates @ CurrentReimbursable @ Future Reimbursements @ Tap Fees © costs Key Comparisons + 50' Lots sold for 40% more + 45' lots sold for
Slide 12: Sky Ranch Master Plan
Sky Ranch Master Plan 1800 Lots 895 Lots 506 Lots 36,674,000 72,600,000 183,738,000 Filing 1 Revenues Filing 2 Revenues Remaining Revenues @ LotRevenue @ Reimbursable Costs @ Tap Fees ~s ae ot sl & 7 1800 Lots pe 895 Lots 506 Lots Filing 1 Expenses Filing 2 Expenses Remaining Expenses @ Lot costs 12
Slide 13: Metered Water Usage
Metered Water Usage Water Assets “= TapFees —§ @ Wastewater Treatment Industrial Bulk Water
Slide 14: Investment in Water and Tap Sales
Investment in Water and Tap Sales All major infrastructure is in service Water/WW Tap Fees to support phase 2 of the Sky Ranch Development FQ1 2021 Water «=. Assets ««. $5,039,500 (Net) ... — In millions 2019 2020 2021 60% Growth FY 2017 (Current Rates) 14.
Slide 15: Monthly Water Customers
=<. ~— . Monthly Water Customers 3,500 ayo = — ij 3,244" . ‘es at from: soo age’ New Residential nseg” New service customers added 2,500 we with every neighborhood 2269" 4 4 2,000 & i New Commercial 1s y Future Sky Ranch 1,627". | commercial phases 1,500 oo 1,207" | Existing Residential 1,000 oy Elb
Slide 16: Q1 2021 Accomplishments
Q1 2021 Accomplishments Sky Ranch Filing 2 Start and Contracted All Initial Lots Sold and Delivered Sold 38 Taps to Sky Ranch and Wild Pointe Cash of $21.3M at 11/30/20 All within one of the most challenging environments to operate in.
Slide 17: Balance Sheet
Pa ASSETS: Current Assets: Cash and cash equivalents Land development inventories All other current assets Total current assets Investments in water and water systems, net All other long-term assets Total assets LIABILITES: © Liabilities: Accounts payable and accrued liabilities Total current liabil
Slide 18: Summary Income Statement
Summary Income Statement Information wey | \\ Revenues: ‘Metered water usage Municipal water usage revenues Oil and Gas water usage revenues Lot fee construction costs incurred Other Depreciation and depletion Total cost of revenues Gross profit General and administrative expenses (Depreciation _ Ne
Slide 19: Leadership and Board of Directors
Leadership and Board of Directors Mark W. Harding Kevin B. McNeill President and CEO Vice President and CFO Harrison H. Augur Peter C. Howell Richard L. Guido Arthur G. Epker III Chairman of the Board** Director and Chairman of Director and Chairman of the Director and Chairman of the Audit Committe
Slide 20: Revenue, Gross Margin, Net Income and Adjusted EBITDA
REVENUE 00's) aw Gross Margin (000's) Net Income oo) FVE2016 FYE2017_-FYE2018 —~FYE2019._—_~FYE2020 @ Wr segment (@ Lond Development wo’ Ajusted EBITDA (coos) 6750 Z apo” 12,000 EBITDA is adjusted for the 10,000 non-cash mineral right impairment charge in 2020 1,035 |) FYE2016 © FYEZ017._—FYEZ018.«F
Slide 21: Contact and Company Information
Contact and Company Information PCYO Stock Price Range FYE2016 | FYE2017 | FYE2018 | FYE2019 FYE 2020 low 3.65. 46 6.65 8.35 7.18 High 5.39 873 14 1174 13.83 Low High Fa1 2021 8.52 10.48 21.
Slide 22: Questions?
Questions? 22.
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