Investor Presentation October 2023
27
Forward-looking statements
This presentation, our Fourth Quarter 2023 Management's Discussion and Analysis ("MD&A") as well as comments made during the Fourth Quarter 2023 investor conference call contain forward-looking statements with respect to us and our industry. These
statements relate to future events or our future performance. All statements other than statements of historical fact are forward-looking statements. Statements that include the words "believes," "expects," "may," "will," "should," "potential," "estimates,"
"anticipates," "aim," "goal", "targets", "plan," "predict" or other comparable terminology and similar statements of a future or forward-looking nature identify forward-looking statements.
More particularly and without limitation, any statements regarding the following are
forward-looking statements:
expected demand for methanol, including demand for methanol energy uses,
and its derivatives,
expected new methanol supply or restart of idled capacity and timing for
start-up of the same,
expected shutdowns (either temporary or permanent) or restarts of existing
methanol supply (including our own facilities), including, without limitation,
the timing and length of planned maintenance outages,
expected methanol and energy prices,
expected levels of methanol purchases from traders or other third parties,
expected levels, timing and availability of economically priced natural gas
supply to each of our plants,
capital committed by third parties towards future natural gas exploration
and development in the vicinity of our plants,
our expected capital expenditures and anticipated timing and rate of return
of such capital expenditures,
anticipated operating rates of our plants,
expected operating costs, including natural gas feedstock costs and logistics
costs,
expected tax rates or resolutions to tax disputes,
the timing of the closing of the sale of a minority interest in our Waterfront
Shipping subsidiary,
expected cash flows, cash balances, earnings capability, debt levels and share
price,
availability of committed credit facilities and other financing,
our ability to meet covenants associated with our long-term debt obligations,
including, without limitation, the Egypt limited recourse debt facilities that
have conditions associated with the payment of cash or other distributions,
our shareholder distribution strategy and expected distributions to
shareholders,
commercial viability and timing of, or our ability to execute future projects,
plant restarts, capacity expansions, plant relocations or other business
initiatives or opportunities, including our Geismar 3 Project,
our financial strength and ability to meet future financial commitments,
expected global or regional economic activity (including industrial production
levels) and GDP growth, and
expected outcomes of litigation or other disputes, claims and assessments,
expected actions of governments, governmental agencies, gas suppliers,
courts, tribunals or other third parties.
We believe that we have a reasonable basis for making such forward-looking
statements. The forward-looking statements in this document are based on our
experience, our perception of trends, current conditions and expected future
developments as well as other factors. Certain material factors or assumptions
were applied in drawing the conclusions or making the forecasts or projections
that are included in these forward-looking statements, including, without
limitation, future expectations and assumptions concerning the following:
the supply of, demand for and price of methanol, methanol derivatives,
natural gas, coal, oil and oil derivatives,
our ability to procure natural gas feedstock on commercially acceptable
terms,
operating rates of our facilities,
receipt or issuance of third-party consents or approvals or governmental
approvals related to rights to purchase natural gas,
the establishment of new fuel standards,
operating costs, including natural gas feedstock and logistics costs, capital
costs, tax rates, cash flows, foreign exchange rates and interest rates,
the availability of committed credit facilities and other financing,
the expected timing and capital cost of our Geismar 3 Project,
global and regional economic activity (including industrial production
levels) and GDP growth,
absence of a material negative impact from major natural disasters,
absence of a material negative impact from changes in laws or regulations,
absence of a material negative impact from political instability in the
countries in which we operate, and
enforcement of contractual arrangements and ability to perform
contractual obligations by customers, natural gas and other suppliers and
other third parties.
However, forward-looking statements, by their nature, involve risks and uncertainties that
could cause actual results to differ materially from those contemplated by the forward-
looking statements. The risks and uncertainties primarily include those attendant with
producing and marketing methanol and successfully carrying out major capital expenditure
projects in various jurisdictions, including, without limitation:
conditions in the methanol and other industries including fluctuations in the
supply, demand and price for methanol and its derivatives, including demand for
methanol for energy uses,
the price of natural gas, coal, oil and oil derivatives,
our ability to obtain natural gas feedstock on commercially acceptable terms to
underpin current operations and future production growth opportunities,
the ability to carry out corporate initiatives and strategies,
actions of competitors, suppliers and financial institutions,
conditions within the natural gas delivery systems that may prevent delivery of our
natural gas supply requirements,
our ability to meet timeline and budget targets for the Geismar 3 Project,
including the impact of any cost pressures arising from labour costs,
the signing of definitive agreements and the receipt of regulatory and other
customary approvals in respect of the sale of a minority interest in our Waterfront
Shipping subsidiary,
competing demand for natural gas, especially with respect to any domestic needs
for gas and electricity,
actions of governments and governmental authorities, including, without
limitation, implementation of policies or other measures that could impact the
supply of or demand for methanol or its derivatives,
changes in laws or regulations,
import or export restrictions, anti-dumping measures, increases in duties, taxes
and government royalties and other actions by governments that may adversely
affect our operations or existing contractual arrangements,
world-wide economic conditions, and
other risks described in our 2022 Annual MD&A and Fourth Quarter 2023 MD&A.
Having in mind these and other factors, investors and other readers are cautioned not to place undue reliance on forward-looking statements.
They are not a substitute for the exercise of one's own due diligence and judgment. The outcomes implied by forward-looking statements may
not occur and we do not undertake to update forward-looking statements except as required by applicable securities laws.
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