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 $87.7 2023E $2.41 $2.76 2023E 39.3% 39.3% 2023E Source: SIRE Financial Projections, SIRE management EVERCORE $71.2 $90.9 2024E $2.22 $2.87 2024E 39.3% 39.3% 2024E $55.9 2025E $1.86 $82.4 35.8% $2.91 2025E 37.1% 2025E SIRE Financial Projections 32 $51.8 2026E $1.67 $83.4 34.6% $2.94 2026E 37.1% 2026E Sensitivity Case ($ 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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