Evercore Investment Banking Pitch Book
SIRE Situation Analysis
SIRE Financial Projections - Sisecam Wyoming Cash Flow Summary
Sisecam Wyoming Distributable Cash Flow
Sisecam Wyoming EBITDA
Less: Cash Interest Expense
Less: Maintenance Capital Expenditures
Distributable Cash Flow
Sisecam Wyoming Distributed Cash Flow
Distributions to SIRE (51.0%)
Distributions to NRP (49.0%)
Distributed Cash Flow
Distributable Cash Flow Surplus / (Shortfall)
Sisecam Wyoming Coverage Ratio
Source: SIRE Financial Projections
EVERCORE
2022E
$154.9
(4.1)
(25.0)
$125.8
$43.3
41.6
$85.0
$40.8
1.48x
2023E
$158.0
(2.9)
(25.6)
$129.6
$52.9
50.8
$103.7
$25.9
1.25x
8
For the Years Ending December 31,
2024E
2025E
2026E
$147.5
(2.2)
(26.1)
$119.1
$48.6
46.7
$95.3
$23.8
Confidential - Preliminary and Subject to Change
1.25x
$117.4
(1.6)
(26.7)
$89.1
$41.3
39.7
$81.0
$8.1
1.10x
$109.4
(1.3)
(27.3)
$80.8
$37.5
36.0
$73.5
$7.3
1.10x
2027E
($
$113.4
(1.2)
(27.9)
$84.3
$39.1
37.5
$76.6
$7.7
1.10x
millions)
in m
2028E
$99.7
(1.1)
(28.6)
$70.1
$32.5
31.2
$63.7
$6.4
1.10x
ŞİŞECAMView entire presentation