The Peck — PECK Co HOLDINGS — Merger or Acquisition (August 2020)
14 slides from The Peck's merger presentation, Aug 12, 2020
Slide 1: PECK Enters Definitive Agreement to Acquire Sunworks
rin GeckCormer Investor Presentation Filed by The Peck Company Holdings “as pursuant to Rule 425 under the Securities Act of 1933,and) med P filed pursuant to Rule 14a-12 under the Securities Exch 934 - Subject Compal ks, Inc. > Commission. Fil 001-36868 Y* Oe J ee . August 10, 2020 PECK Enters Defi
Slide 2: Disclaimer
ttl i Disclaimer Forward-Looking Statements Statements in this presentation regarding Peck’ offer to acquire Sunworks Inc. (“Sunworks”), the expected timing of the proposed transaction, the potential benefits of the acquisition (including potentially accretive and synergistic benefits), Peck’s expec
Slide 3: Transaction Overview
The Peck Company Transactio n Ove rvi ew Acquisition of Sunworks, Inc. by The Peck Company Holdings, Inc. Peck will maintain its listing on the Nasdaq under the symbol PECK Nasdaq Listing Sunwork’s Nasdaq listing will be delisted post merger ) Ownership: PECK 63.46% + SUNW 36.54% Implementation, Acq
Slide 4: Context for the Acquisition
ipekceees Context for the Acquisition Historical Recap Peck Electric Company Entered the Solar EPC Public listing as PECK founded in 1972, grew s business in 2013 and n on Nasdaq in 2019 via to largest electrical installed nearly 1/3 of all SPAC merger to execute contractor in Vermont Vermont solar
Slide 5: Compelling Strategic Rationale
thepexcomay COMpelling Strategic Rationale A Transformational and Accretive Combination Expansion * Geographic expansion from East Coast to West Coast Provides Rapid Verticals expanded from Commercial & Industrial to Agriculture, Public Works Growth ____} and high-margin Residential Scale Expected P
Slide 6: 2019 Proforma Combination
BAOm The Peck Company 2019 Proforma Combination The Peck Company op sunwerks | Solar Markets Northeast Solar EPC Commercial and Industrial, Small Utility, Opportunistic Residential Western Solar EPC Agricultural-Commercial-Industrial, Public Works, Residential 2020 Solar Power World Top Solar Contra
Slide 7: 2019 Proforma Combination
The Peck Company 2019 Proforma Combination (Sin millions) Sunworks Synergies Revenue $59.8 CcOoGS (53.2) Gross Profit H 67 Operating Expenses (15.0) Non-Operating Expenses (0.9) Net Income ($9.2) [Depreciation and amortization 12 interest expense 09 Stock based compensation 04 Other general and admi
Slide 8: Peck Company Reconciliation to Adjusted EBITDA
BAOm The Peck Company Reconciliation to Adjusted EBITDA (Sin millions) Reconciliation to adjusted EBITDA Net loss $ (0.4) (9.2) Depreciation and amortization 0.6 a2 Stock-based compensation - 0.4 Interest expense 0.2 0.9 Income tax expense 14. - EBITDA 15 (6.7) Other costs (1) 0.3 a7 Adjusted EBITDA
Slide 9: 2019 Proforma Synergy Analysis
BAOm The Peckcompary 2019 Proforma Synergy Analysis (8 in millions) Materials Costs Based on Purchasing Power Payroll and Benefits Audit & Filings Insurance Legal Costs Other Public Company Expenses Total Timing Achieved by end of Q1 2021 Achieved by end of Q4 2020 Fully achieved at close Fully achi
Slide 10: Common Shares Ownership Post Acquisition
BAOm The Peck Company Common Shares Ownership Post Acquisition Peck Common Shares Issued Prior to Transaction Closing 5,348,159 63.46% Peck Shares Issued to SUNW shareholders at Closing 3,079,207 36.54% Proforma Cap Table of Common Shares Total Common Shares Issued after Closing 8,427 366 100% Addit
Slide 11: Green Bond Partnership
— Green Bond Partnership The Peck Company Capital for Building More Solar Projects: Partnership Benefits to PECK: Major Differentiator for a Solar EPC to have direct access to a green bond platform The green bond platform through the solar project partnership provides PECK with a first right of refu
Slide 12: Energy Transition Needs Both Solar and Green Bonds
tak The Peck Company Energy Transition Needs Both Solar and Green Bonds Green Bonds Scenarios to 2036: Asset-backed (ABS and CLOS) and financial sector bonds have the largest potential to scale Financial ABS “=Project bond Corporate 0 2015 2020 2025 ‘Sao Karin GOT6/A arte Fence Pot Bond Canara a war
Slide 13: Conclusion
The Peck Company Conclusion PECK is executing its three-pronged strategy for growth — Now the SUNW Acquisition y Complements and extends PECK’s footprint nationally and into other solar verticals OC Strengthens the organizational structure of the business as a platform for rapid growth Visibility in
Slide 14: Contact Information
BAOm The Peck Company Corporate: Michael d’Amato IR@peckcompany.com p802-264-2040 4050 Williston Road, Suite 511 South Burlington, VT 05403 Contact Information Investor Relations: ClearThink nyc@clearthink.capital p917-658-7878 For Additional Information, Visit: www.peckcompany.com
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