Evercore Investment Banking Pitch Book
Financial Projections and Preliminary Valuation Detail - Sensitivity Case
Precedent M&A Transactions Analysis - Sensitivity Case
SIRE Share of 2023E EBITDA (Post - SIRE G&A)
Relevant EBITDA Multiple
Precedent M&A Transaction Analysis
Implied Enterprise Value Based on 2023E Adjusted EBITDA
Less: Net Debt as of December 31, 2022 (SIRE's 51% Share)
Implied Equity Value
SIRE LP Units Outstanding¹
Implied SIRE Unit Price Range - 2023E Adjusted EBITDA
Confidential - Preliminary and Subject to Change
Source: Public filings, Wall Street research, SIRE Financial Projections, SIRE management
1. Includes 2.0% general partner interest, economically equivalent to 399,000 LP Units at current quarterly distribution
EVERCORE
48
($ in millions, except per unit amounts
6.0x
$520.1
$461.1
$22.83
$86.7
(59.0)
-
20.2
8.5x
$736.8
$677.8
$33.56
ŞİŞECAMView entire presentation