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Evercore Investment Banking Pitch Book

Preliminary Valuation of SIRE Common Units SIRE Financial Projections vs. Sensitivity Case EBITDA Attributable to SIRE DCF / LP Unit % Gross Margin $76.6 $86.7 2023E $2.41 $2.73 2023E 39.3% 39.3% 2023E Source: SIRE Financial Projections, SIRE management EVERCORE $71.2 $88.8 2024E $2.22 $2.80 2024E 39.3% 39.3% 2024E $55.9 $73.3 2025E $1.86 $2.59 2025E 35.8% 37.1% 2025E SIRE Financial Projections 32 $51.8 2026E $1.67 $70.8 34.6% $2.50 2026E 37.1% 2026E Sensitivity Case Confidential - Preliminary and Subject to Change ($ in millions, except per unit amounts, $53.8 2027E $1.75 $72.3 33.5% $2.55 2027E 37.1% 2027E $46.9 2028E $1.42 $70.6 30.8% $2.48 2028E 37.1% 2028E ŞİŞECAM

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