Jade Power Trust Trust Units · TSXV:JPWR.H
Jade Power Trust Trust Units — Investor Presentation (May 2022)
22 slides from Jade Power Trust Trust Units's investor presentation, May 2022
Slide 1: Investor Presentation
Investor Presentation May 2022
Slide 2: Cautionary Note
Cautionary Note This presentation (the “Presentation”) has been prepared by Jade Power Trust (the “Trust”) and is being delivered for information purposes only. The Presentation is confidential and is made available strictly on the basis that it will not be reproduced, redistributed or disclosed, in
Slide 3: JPWR at a Glance
JPWR at a Glance Enterprise Value Market Cap Capacity $57.8M (1) $44.1M (1) 81MW EBITDA Free Cash Flow Annual Generation $10.0M (2) $16.2M (2) 150k-160k MWh • Owner and operator of clean and sustainable energy generating assets across multiple technologies. • Generating revenue from the sale of elec
Slide 4: Investment Highlights
Investment Highlights Long-term Stable Cash Flows from Diversified Portfolio - Long-term stable and predictable cash flows from long-term power contracts. - Exposure to European Electricity Markets and Forecasts; Romania 100% coupled to Western European Market - Diversified portfolio across Wind, So
Slide 5: Drivers of Future Growth
Drivers of Future Growth Growth Leveraging built up equity value in existing assets to unlock Accretive Growth for Unitholders MACRO INTERNAL - Lower Renewables LCOE Vs Fossil Fuels era - Utilize under-levered balance sheet to has arrived, and standalone economics can now opportunistically pursue gr
Slide 6: Our Impact
Our Impact Offsetting 900,000M ton/Co2 over existing Generating Green asset life with clean Generating Green Energy to power Energy to offset energy. emissions from an 65,440 households per Annually offsetting an annum1 estimated 22,137 cars estimated 150,000M per year2 ton/Co22 1https://www.worldda
Slide 7: Asset Base
Asset Base Assets located in Romania. A stable jurisdiction as part of the E.U. Wind 62 MW Capacity 131,107 MWh/yr 77% Fully coupled to European Energy Market, the worlds most liquid market. 2 Assets: East Wind and Baia Solar 16.6 MW Capacity 22,808 MWh/yr 20% Diversified Portfolio 2 Assets: PowerLI
Slide 8: The Evolution of JPWR
The Evolution of JPWR Sep 2021 Dec 2021 Unit Consolidation Full repayment of Baia 10:1 equipment lease Dec 2017 Aug 2019 Sep 2021 Jan 2021 Equity Raise: CAD $43M and converted $42M NCIB Divested non- Corporate Level Debt: Full of debt into equity 715k Units bought- core, loss-making Repayment CAD $4
Slide 9: Capital Structure
Capital Structure AS AT MAY 31, 2021 Capital Structure Key Unitholders Management & Insiders 3.0% Ticker Symbol TSX-V: JPWR.UN Renovatio Group Limited 22.5% Share Price $1.95 MMCAP International Inc. 18.0% $1.22 - $1.96 Widely Held 56.5% 52-Week Range --------- Shares Outstanding 22.6M 100% Options
Slide 10: By the Numbers
By the Numbers EBITDA 2021: $10.0M 2022F: $10M Cash Revenue Balance 2021: $18.7M 2021: $8.1M 2022F: $18M 2022F: $12M Energy (MWh) Operating 2021: 153,044 Cashflow 2022F: 150k-160k 2020: $16.3M 2021F: $16M Free Cash Flow 2021: $16.2M 2022F: $16M 10 TSX.V: JPWR.UN May 2022
Slide 11: Financial Position
Financial Position • Corporate debt fully repaid in January 2021 • Full repayment of Baia lease in Q4 2021 • Total Debt-to-Equity = 0.6 (under leveraged) • DSCR = 3.4x 2021A 2022F $96.5M Over $100m balance Cash $ 8.1M $ 12.0M sheet improvement in 5 years $59.5M PowerLive1 $ 7.8M $ 6.0M $43.2M $30.3M
Slide 12: Performance Metrics
Performance Metrics ENERGY GENERATION REVENUE PERFORMANCE 2014 to 2022: 158,822 2014 to 2022: $18.7M $18.7M CAGR – 52% 155,263 153,044 $17.7M CAGR – 68% 147,857 $17.3M 2021 Actuals $12.3M 75,865 $8.7M 44,560 Cash: $8.1M $3.5M 5,373 16,413 EBITDA: $10.0M $0.3M or $0.44/Unit 2014 2015 2016 2017 2018 2
Slide 13: Romania's Advantages
Romania’s Advantages land • Abundant natural resources and generation mix Czech Rep Slovakia Ukraine Austria o Stable and Mixed Generation Capacity including large scale hydro, Hungary Romania nuclear, wind, gas and coal means ability to deliver baseload energy Slovenia Croatia Serb under any circum
Slide 14: Development & Growth Strategy
Development & Growth Strategy Capturing global trends and capitalizing on our market experience and execution successes in Romanian and in Emerging Markets. Sustainable Create Competitive Targeted Storage and Optimize investment Advantage Solar Repowering PPAs and opportunity by scaling plan merchan
Slide 15: Growth Targets
Romania and Neighboring Growth Targets Have the highest electricity Prices in Europe, driven by substantial c o a l - f i re d Eastern Europe generation a n d transmission limitations Electricity prices in Serbia,Bulgariaand Romaniahave become the highest in Europe due to high CO2 emissions of coal-
Slide 16: EU Emissions Targets
EU Emissions Targets Ambitious EU-Wide Emissions Reduction Ta rgets Will Transform the Regional Eastern Europe Generation Mix With Significant Wind a n d Solar PV C a p a c i t y Additions ExpectedGenerationCapacityinOurTargetCountries(GW) 2020 2030 TargetShareof Renewable Energy 6.5 6.5 +161% 16.9
Slide 17: Energy Prices
Energy Prices Eastern Europe Subsidy Free Renewables Now Produce the Cheapest Power in the Region Southeast Europe electricity price projections (as of Dec 2020 – € / MWh) Solar PV LCoE Thirdpartymarket expert projections Wind LCoE Merchant premium Potential premium Historical average price for Serb
Slide 18: Leadership and Board
Leadership and Board Colter is the Chief Executive Officer and co-founder of Betty is the Chief Financial Officer of Jade Power with over 15 Ravi is the Chairman and co-founder of Jade Power Trust. He is an entrepreneur and previously was CEO Jade Power Trust. He has lived in Romania since 2013. yea
Slide 19: Thank You.
Thank You. Ravi Sood, Chairman +1 647 987 7663 rsood@jadepower.com J. Colter Eadie, Chief Executive Officer +40 736 372 724 jceadie@jadepower.com Betty Soares, Chief Financial Officer +1 416 803 6760 bsoares@jadepower.com www.jadepower.com
Slide 20: Appendix 1: Green Certificates Explained
Appendix 1: Green Certificates Explained The Program Benefits to JPWR • Romania incentivized the construction and use of renewable • Revenue from Green Certificates exceeds that of the energy energy by implementing a green certificate program. • Renewable energy companies are issued a number of Gree
Slide 21: Appendix 2: Green Certificates by Site
Appendix 2: Green Certificates by Site Restricted Green Restricted Green Tradeable Green Tradeable Green Certificates Certificates Accreditation Period of Certificates Certificated Earnings outstanding as at outstanding as at Restricted Green Project (GC/MWh) Expiry Date December 31, 2021 December 3
Slide 22: Appendix 3: Strategic Shareholder Highlights
Appendix 3: Strategic Shareholder Highlights • Renovatio Group is a strategic shareholder of Jade Power Trust holding approximately 51.9M units (22.5% currently outstanding) • Integrated operator (development, generation, trading, asset management) in the renewable energy sector • Has completed over