Caribbean Utilities Co. Ltd. Class A · TSX:CUP.U
Caribbean Utilities Co. Ltd. Class A — Investor Presentation (May 2026)
29 slides from Caribbean Utilities Co. Ltd. Class A's investor presentation, May 2026
Slide 1: Investor Presentation May 2026
Investor Presentation May 2026 www.cuc-cayman.com
Slide 2: Forward Looking Information
Caribbean Utilities Company, Ltd. Forward Looking Information Certain statements in this presentation, other than statements of historical fact, are forward-looking statements concerning anticipated future events, results, circumstances, performance or expectations with respect to the Company and it
Slide 3: Table of Contents
Caribbean Utilities Company, Ltd. ▪ Why invest in CUC? Table of ▪ CUC Overview Contents ▪ Market Drivers and Financial Overview ▪ Operations, Resilience and Energy Transition www.cuc-cayman.com Investor Presentation www.cuc-cayman.com 3
Slide 4: Why Invest in CUC? CUC Overview
Caribbean Utilities Company, Ltd. Why Invest in CUC? CUC Overview Letitia Lawrence Vice President Finance, Corporate Services & Chief Financial Officer Market Drivers and Financial Overview Investor Presentation www.cuc-cayman.com 4
Slide 5: Why Invest in CUC?
Caribbean Utilities Company, Ltd. Why Invest in CUC? Proven Infrastructure and Expansion Capacity: CUC operates a robust and hurricane-resilient grid: 166 MW installed capacity across 21 generating units, 387 miles of overhead and 53.8 miles of underground high-voltage lines and 14 miles of submarin
Slide 6: Key Milestones
Caribbean Utilities Company, Ltd. 99.99% Key Milestones Reliability 35-year presence on The Toronto Stock Exchange Battery Energy Storage Systems (BESS) installed and operational Investor Presentation www.cuc-cayman.com 6
Slide 7: A 60-Year Company for Long-Term Shareholders
Caribbean Utilities Company, Ltd. A 60-Year Company for Long-Term Shareholders 1966 1986 1996 2006 2016 2025 Net Assets of Earnings per Earnings per Earnings per Earnings per Earnings per Undertaking at Class A Ordinary Class A Ordinary Class A Ordinary Class A Ordinary Class A Ordinary May 9, 1966
Slide 8: Introduction: CUC and the Local Investor
Caribbean Utilities Company, Ltd. Introduction: CUC and the Local Investor ▪ Stable, regulated utility with predictable demand and cash flows. ▪ Consistent dividends offering reliable income for long-term investors. ▪ Attractive local investment option offering an easy way to invest in the local eco
Slide 9: Investor Services
Caribbean Utilities Company, Ltd. Investor Services ▪ Direct Investment Plans: ▪ Customer Share Purchase Plan ▪ Dividend Reinvestment Plan ▪ Conversion to digital registration statements ▪ Dividend payment options available: ▪ Traditional cheque ▪ Via wire transfer ▪ Dividend reinvestment Investor P
Slide 10: Inflation and the Importance of Real Returns
Caribbean Utilities Company, Ltd. Inflation and the Importance of Real Returns ▪ Inflation Risk: A major long-term concern for income investors, especially in import- dependent economies. ▪ CUC Dividend Yield: Typically outperform inflation over time, helping preserve and grow real income. Investor
Slide 11: CUC at a Glance
Caribbean Utilities Company, Ltd. Dividend yield of 5.5% in 2025 CUC at a Glance Commenced operations on May 10, 1966 $ P/E Multiples – 12-month trailing at 12.2x as of September 30, 2025 Listed on The Toronto Stock Exchange (CUP.U) since September 1990 $ $88.9 million - 2025 Capital Expenditures 42
Slide 12: Corporate Timeline
Caribbean Utilities Company, Ltd. July 31, 2025: November 20, 2014: Peak load reached 129.5 MW; Corporate A new non-exclusive May 2024: installed capacity is 166 MW with Generation Licence is issued Inaugural Green 20 MW of temporary generation by the Electricity Regulatory Bond Issuance - Timeline
Slide 13: Vision, Mission + Value Proposition
Caribbean Utilities Company, Ltd. Vision, Mission + Value Proposition OUR VISION OUR MISSION OUR VALUE PROPOSITION Empowering Cayman To be a leader in the growth of our Cost-competitive energy from to be a Global Leader community by delivering safe, reliable renewable transition energy services at c
Slide 14: Our Strategy: Alignment with UN Sustainable Development Goals
Caribbean Utilities Company, Ltd. Our Strategy: Alignment with UN Sustainable Development Goals 1 4 2 5 Energy System Government Customer People Competitive Transformation Reliability and Regulatory and and Shareholder and and Relations Community Culture Returns Affordability Resilience 3 6 7 8 9 12
Slide 15: Our Common Ground
Caribbean Utilities Company, Ltd. Our Common Ground Safe and Good Governance Reliable Service ▪ Operate in sound policies and best practices ▪ Safety is our #1 Priority! ▪ 12 Board Members with diverse ▪ ISO 45001: 2018 Conformance expertise ▪ 99.99% Reliability with SAIDI ▪ 50% of Directors are fem
Slide 16: New Developments
Caribbean Utilities Company, Ltd. 3 New Developments Hotel Indigo – Seven Mile Beach 1 + 282 rooms with a rooftop lounge and infinity pool 1 + Opened in April 2024 ONE GT– George Town 2 + Boutique hotel with 97 rooms and a rooftop pool club + Scheduled to open in Winter 2026 4 Grand Hyatt – George T
Slide 17: Earnings vs. Capital Expenditures
Caribbean Utilities Company, Ltd. Earnings vs. Capital Expenditures 120.0 Significant 100.6 investments in 95.8 97.6 100.0 infrastructure, 88.9 renewable integration, 80.0 and grid In USD (Millions) 60.6 60.2 modernization have 52.4 57.9 53.4 positioned the 60.0 46.5 47.4 Company for robust 42.7 38.
Slide 18: Total Shareholder Return
Caribbean Utilities Company, Ltd. Total Shareholder Return 2025 Earnings Per Share CUC SHARE PRICE & DIVIDEND RATE $1.10 $0.78 18 $0.76 16 2025 Return $0.74 14 on Equity $0.72 12 11.5% $0.70 10 $0.68 8 2025 Return $0.66 6 on Assets $0.64 4 5.4% $0.62 2 2026 Annual $0.60 0 Dividend 2016 2017 2018 201
Slide 19: Cash Sources and Uses
Caribbean Utilities Company, Ltd. Cash Sources and Uses 160.0 Highlights 140.0 ▪ Increased capital 120.0 expenditure from 2022 100.0 related to Life Cycle Upgrades and BESS 80.0 projects which were 60.0 completed in 2025 40.0 ▪ In 2024, Green 20.0 Financing Framework 0.0 was established with the ina
Slide 20: Capital Expenditures
Caribbean Utilities Company, Ltd. Capital Expenditures Generation T&D Resiliency Alternative Energy Other Year Notable Projects Seven Mile Beach (SMB) 69/13kV Substation, 100 3 4 2017 4 Customer dist. Secondary extensions 10 New Prospect 69/13kV Substation, Future Seven 90 13 17 4 2018- Mile Beach (
Slide 21: Credit Ratings and Outlook
Caribbean Utilities Company, Ltd. Credit Ratings and Outlook BBB+ STABLE Equity Debt 50% 50% A (low) STABLE ▪ Strong credit metric within the rating category ▪ Cash flow stability ▪ Company’s liquidity remain solid, reflecting sizable credit facility and minimal long-term debt due in near term Inves
Slide 22: Operations, Resilience and Energy Transition
Caribbean Utilities Company, Ltd. Operations, Sacha Tibbetts Resilience and Vice President Customer Services Energy Transition & Technology Investor Presentation www.cuc-cayman.com 22
Slide 23: Delivering Reliable Service
Caribbean Utilities Company, Ltd. Delivering Reliable Service System Average Interruption Duration Index (SAIDI) Outage Duration metric exceeds the US Industry Benchmark in performance. Investor Presentation www.cuc-cayman.com 23
Slide 24: Supply and Maintenance
Caribbean Utilities Company, Ltd. Supply and Maintenance 166 MW 20 MW 20 MW 5 MW Reserve Margin Diesel Temporary Battery Energy Solar Farm between Generation Generation Storage System 35% to 55% (BESS) Investor Presentation www.cuc-cayman.com 24
Slide 25: Cayman Islands Energy Transition
Caribbean Utilities Company, Ltd. Cayman Islands Energy Transition National Energy Policy (NEP) 2024 - 2045 What is CUC’s Role? ▪ Infrastructure Investment and Renewable Integration RENEWABLE ELECTRIC GREENHOUSE ▪ Energy Efficiency Initiatives ENERGY VEHICLES GAS EMISSIONS ▪ Collaboration with Gover
Slide 26: Projects
Caribbean Utilities Company, Ltd. Projects CLIMATE ADAPTATION + RESILIENCY ENERGY EFFICIENCY ▪ Underground Transmission Lines ▪ Upgrade to SCADA System ▪ Vegetation Management ▪ Battery Energy Storage System (BESS) Project ▪ Life Cycle Upgrade (LCU) Investor Presentation www.cuc-cayman.com 26
Slide 27: Customer Affordability
Caribbean Utilities Company, Ltd. Customer Affordability Fuel Efficiency ▪ Fuel efficiency improved in 2025 by 3%, with (In kWh Per IG) 20.00 average Net Fuel Efficiency increasing to 19.19 kWh/Ig in 2025 compared to 18.60 kWh/IG in 19.50 2024. 19.00 ▪ This improvement is partly attributable to the
Slide 28: CON and DPV Updates
Caribbean Utilities Company, Ltd. CON and DPV Updates ▪ URCO’s approval on February 20, ▪ 22.5 Dispatchable Photovoltaic Request 2026 of CUC’s Certificate of Need: for Proposals issued by URCO on July 3, 2025 ▪ 94 MW of new capacity to maintain reliability, meet forecast demand, and Timeline as foll
Slide 29: Thank You
Thank You investor@cuc.ky 457 North Sound Road 345-949-5200 P.O Box 38, Grand Cayman KY1-1101 CAYMAN ISLANDS
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