Low Carbon Energy Solutions Investor Update
Transformative Acquisition of Certarus by Superior Plus
Lower Carbon and
Renewable Fuels Platform
Established via Addition
of CNG, RNG and
Hydrogen
Provides Significant
Immediate and Long-Term
Value Creation and
Financial Benefits
.
CNG, RNG and hydrogen demand is growing rapidly as customers transition away from diesel and other distillates to lower emissions and
carbon intensity
CNG enables immediate cost savings and significant emissions reduction relative to diesel; further emission reductions available to
customers as they transition to RNG and hydrogen
Increasing need for over-the-road distribution alternatives as existing pipeline infrastructure is insufficient and increasingly difficult to build
Expected to drive double-digit accretion to AOCF per share1 in 2023, while accelerating the organic growth profile of the business
Strong Financial Position
Enabling Growth
Superior Way Forward
Targets Accelerated
Identical Focus on Safety,
Customer Service and
Reliability of Supply for
its Customers
·
•
•
Strong pro forma financial position maintained, providing available liquidity to continue to grow the combined business
-
Pro forma leverage expected to be in the targeted range of 3.5x to 4.0x² with substantial free cash flow to support continued de-levering
and growth going forward
Superior expects to maintain its dividend level at the current annualized rate, with an improved pro forma payout ratio
Superior now expects to achieve the Superior Way Forward EBITDA from Operations³ target range of $700 million to $750 million by year-
end 2024, a full two years ahead of Superior's previously estimated timing
Successful execution on $1.9 billion of accretive acquisitions over the past 30 months
The businesses share cultures focused on safely serving their customers and driving operating efficiencies
-
Highly complementary businesses between Superior and Certarus creates the opportunity for both companies to effectively cross-sell and
distribute more product to existing and new customers
Superior Plus
See end notes for further information
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