Keppel Infrastructure Trust · SGX:A7RU
Keppel Infrastructure Trust — Merger or Acquisition (July 2022)
12 slides from Keppel Infrastructure Trust's merger presentation, Jul 13, 2022
Slide 1: Proposed Investment in European Onshore Wind Platform
Proposed Investment in European Onshore Wind Platform 13 July 2022
Slide 2: Important notice
Important notice The information contained in this presentation is for information purposes only and does not constitute or form part of, and should not be construed as, any offer or invitation to sell or issue or any solicitation of any offer or invitation to purchase or subscribe for any units (“U
Slide 3: KIT's maiden renewable energy investment
KIT’s maiden renewable energy investment Sponsored by FORAS and investing alongside leading European asset managers ▪ Jointly investing with KLP and MEAG to acquire a 49% stake in a diversified portfolio of three operating onshore wind energy assets in Norway and Sweden (Initial Portfolio) from FORA
Slide 4: Attractive Risk Profile
Attractive portfolio of windfarm assets across the Nordics and UK 258MW of operating projects + 1.3GW of pipeline potential(1) Högaliden Initial portfolio 5-year exclusive right to Fäbodliden FORAS’ eligible pipeline 107.5 MW NO4 COD 2021 Projects with combined No development or 79.2 MW capacity of
Slide 5: Key investment highlights
Key investment highlights 1 Beachhead platform in a mature renewable energy market 2 FORAS a strong and reputable operating partner 3 Prudent transaction structure with attractive risk allocation 4 Accretive investment with attractive cash flows 5 Grow portfolio with maiden investment in Europe 6 Su
Slide 6: Beachhead platform in a mature renewable energy market
1 Beachhead platform in a mature renewable energy market Supported by strong sector tailwinds, in line with KIT’s growth strategy Nordics Electricity Demand (TWh) 562 ▪ Nordics and the UK are among the most mature renewables markets globally 13 +19.8% 28 ▪ Positive outlook for wind and other renewab
Slide 7: FORAS a strong and reputable operating partner
2 FORAS a strong and reputable operating partner with a visible and extensive pipeline available to the Fundco investors ▪ Asset developer and owner with a long-term cradle to grave mindset; projects designed with long term ownership in mind to minimize lifetime total costs ▪ Excellent track record
Slide 8: Prudent transaction structure with attractive risk allocation
3 Prudent transaction structure with attractive risk allocation Enabling KIT to further optimise its portfolio risk-adjusted returns Minimal asset development or Purchase price adjustment for No decommissioning liabilities capex over-run risk, which will new projects helps to mitigate as assets are
Slide 9: Accretive investment with attractive cash flows
4 Accretive investment with attractive cash flows Deliver DIPU(1) accretion to Unitholders ▪ Initial Portfolio expected to provide strong cash flows and expected to be DIPU-accretive for Unitholders ▪ Long remaining asset lives averaging approx. 21 years as at Jun 2022 for Initial Portfolio Funds fr
Slide 10: Grow portfolio with maiden acquisition in Europe
5 Grow portfolio with maiden acquisition in Europe Increases KIT’s income and geographic diversification ▪ KIT's AUM to grow from S$4.5b as at 31 Mar 2022 to approx. S$4.7b post-investment(1) Diversification by Asset (%) Diversification by Geography (%) As of 31 March 2022 Pro forma Post-Investment
Slide 11: Supports KIT's environmental targets
6 Supports KIT’s environmental targets Increase KIT’s exposure to renewables to approx. 4%(1) of AUM 1 Progressing KIT’s decarbonisation roadmap, reducing carbon emission intensity Promoting KIT’s commitment to increase exposure to renewable energy by up to 25% of 2 equity-adjusted AUM by 2030 3 Sup
Slide 12: Thank You
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