Investor Presentation
post debt agreements, pro-forma capitalization
AR
pro forma share count (in millions, treasury method)
Treasury Method Pro-Forma Shares (9/30/2023)
Shares for unvested service based LTIP
Treasury Method Shares
Senior Noteholders New Shares
Treasury Method Shares (pro forma)
Anti-Dilutive Warrants
Treasury Method Shares (pro forma for exercise of Anti-Dilutive
Warrants)
76.7
5.0
81.7
35
116.7
23
139.8
pro forma net debt outstanding
(USD millions)
Senior Secured Debt (9/30/2023)
Debts Payable non-current (9/30/2023)
Debts Payable current (9/30/2023)
Total pro forma Debt
Cash on Balance Sheet (9/30/2023)
Net Debt
1) Includes AYR granted but unvested performance based RSUS (PSUS) totaling 1,300 that do not meet the probability threshold
2) Includes cash proceeds from announced upsizing of Senior Secured debt, $40M proceeds
3) Excludes cash proceeds ($49M) from recently announced two-year Anti-Dilutive Warrants ($2.12 strike price)
CSE:AYR.A | OTC:AYRWF
$293.3
171.2
23.1
$487.6
112.8
$372.2
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