Slide 1: Investor Presentation Third Quarter 2023 Results
Investor Presentation THIRD QUARTER 2023 RESULTS NOVEMBER 9, 2023
Slide 2: Cautionary Statement Regarding Forward-Looking and non-GAAP Financial Information
Cautionary Statement Regarding Forward-Looking and non-GAAP Financial Information This presentation contains “forward-looking statements” within the meaning of U.S. federal securities laws that involve substantial risks and uncertainties. All statements other than statements of historical or current
Slide 3: Financial Performance: Income Statement
Financial Performance Income Statement 3
Slide 4: Operational Results – Quarter Ended September 30, 2023
Operational Results – Quarter Ended September 30, 2023 (in thousands, unless otherwise indicated) All comparisons are between the third quarter ended September 30, 2023 and the third quarter ended September 30, 2022, unless otherwise indicated Renewable Natural Gas (“RNG”) Metrics – 57 MMBtu decreas
Slide 5: Operational Performance: Operating Metrics
Operational Performance Operating Metrics 5
Slide 6: Financial Performance: Balance Sheet
Financial Performance Balance Sheet 6
Slide 7: Cash Flow
Cash Flow (in thousands, unless otherwise indicated) Operating items affecting net income include: – $5,995 accounting for stock-based compensation Investing activities include: – $12,313 capital expenditures for Pico Digestion Capacity Increase – $10,092 capital expenditures for Second Apex RNG Fac
Slide 8: Business Development: Capital Development Summary
Business Development Capital Development Summary The following summarizes our ongoing development growth plans expected volume contribution, anticipated commencement of operations, and capital expenditures estimate, respectively: Development Opportunity Estimated Volume Contribution Anticipated Comm
Slide 9: Business Development: Montauk Ag Renewables
Business Development Montauk Ag Renewables (in thousands, unless otherwise indicated) Third Quarter 2023 Highlights – Board of Directors approved first phase • Provide sufficient capacity to satisfy Duke Energy REC agreement • $140,000 and $160,000 expected first phase capital investment – Inclusive
Slide 10: Business Development: Pico Feedstock Amendment
Business Development Pico Feedstock Amendment Third Quarter 2023 Highlights – Commissioning activities commenced • Digestion capacity increase • New larger reception pit • Able to process all current feedstock volumes – Expect to complete commissioning of last digestion capacity increase in 2023 fou
Slide 11: Business Development: Strategic Growth Opportunity Pipeline
Business Development Strategic Growth Opportunity Pipeline Positioned for continued growth, with on-going evaluation of various strategic opportunities: – Multiple LFG RNG and ADG RNG sites in various stages of evaluation – Exploring wastewater treatment to RNG project opportunities – Potential cost
Slide 12: Appendix
Appendix MONTAUK
Slide 13: Non-GAAP Reconciliation: EBITDA and Adjusted EBITDA
Non-GAAP Reconciliation EBITDA and Adjusted EBITDA 13