Solaris Energy Infrastructure, Inc. · NYSE:SEI
Solaris Energy Infrastructure — Q3 2025 Earnings Presentation
10 slides from Solaris Energy Infrastructure's earnings presentation, Nov 4, 2025
Slide 1: Q3 2025 Earnings Supplement
Solaris Energy Infrastructure, Inc. Q3 2025 Earnings Supplement November 3, 2025
Slide 2: Illustrative Pro Forma Adjusted EBITDA and Balance Sheet at Full Fleet Deployment
Solaris Energy Infrastructure Illustrative Pro Forma Adjusted EBITDA (1) and Balance Sheet at Full Fleet Deployment Pro Forma Expected Fleet Pro Forma Potential Adjusted EBITDA Pro Forma Potential Gross Debt (MW) ($ millions) ($ millions) $1,403 2,200 MW $700-750 Consolidated Debt (3)(4) Consolidate
Slide 3: Current Capital Plan: Growth to 2,200 MW Operated Fleet by Early 2028
Solaris Energy Infrastructure Current Capital Plan: Growth to 2,200 MW Operated Fleet by Early 2028 Expected Remaining Consolidated Capex Driven by Power Solutions Order Book, SEI Capex Reduced by JV Capex Funded at the Partnership ($ millions) Actual Forecast Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026
Slide 4: Financial Guidance: Q4 2025 and Q1 2026
Solaris Energy Infrastructure Financial Guidance: Q4 2025 and Q1 2026 ($ and shares in millions) Q3 2025 Actual Q4 2025 Guidance (Increased) Q1 2026 Guidance (Introduced) Power Solutions Adjusted EBITDA $58 $56-60 Logistics Solutions Adjusted EBITDA $17 $18-20 Corporate and Other Expense ($8) ($9-10
Slide 5: Debt Capitalization Summary: Current and Fully Deployed JV Capacity
Solaris Energy Infrastructure Debt Capitalization Summary: Current and Fully Deployed JV Capacity ($ in millions) Annual Notional Pro Forma for Issuance Pro Forma Potential w/Fully Interest Rate Notional Balance at 9/30/25 of Convertible Notes due 2031 (1) Deployed JV Capacity Term Loan SOFR + 600 b
Slide 6: Capitalization Options for Valuation Purposes
Solaris Energy Infrastructure Capitalization Options for Valuation Purposes Option 1: Treat Convertible Option 2: Treat Convertible ($ and shares in millions) Notes as Debt Notes as Shares Debt Convertible Notes due 2030 ($26.39 conversion price) $155 - Convertible Notes due 2031 ($57.20 conversion
Slide 7: Appendix
Solaris Energy Infrastructure Appendix solaris-energy.com
Slide 8: EBITDA and Adjusted EBITDA Reconciliation
Solaris Energy Infrastructure EBITDA and Adjusted EBITDA Reconciliation Three months ended, Twelve months ended December 31, ($ in 000s) September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 2024 2023 2022 Net income $24,814 $24,129 $12,968 $14,004 $28,918 $38,775 $33,512 Depreciation an
Slide 9: Disclaimer
Solaris Energy 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 fo
Slide 10: solaris-energy.com
Solaris Energy Infrastructure Solaris Energy Infrastructure solaris-energy.com Follow us on LinkedIn 9651 Katy Freeway, Suite 300 Houston, Texas 77024 solaris-energy.com 10
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