Evercore Investment Banking Pitch Book
Executive Summary
Changes Since Conflicts Committee Meeting on September 20, 2022
Evercore made the following updates and adjustments from the draft presentation dated September 20, 2022, as requested by
the Conflicts Committee:
Updated market prices to October 4, 2022
Added an incremental Sensitivity Case for the SIRE Financial Projections ("Sensitivity Case #3"), including:
i.
ii. production volumes as provided in the SIRE Financial Projections
Confidential - Preliminary and Subject to Change
IHS price forecasts adjusted based on more recent historical difference between IHS pricing and SIRE's historical
realized price per ton
iii. gross margin as a percent of net revenue consistent with historical results
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