EverGen Infrastructure (EVGN) investor relations material

Strategic positioning and business model

• Focused on building a leading renewable natural gas (RNG) infrastructure platform in North America, leveraging real assets and a strong operational team.

• Recent recapitalization and refreshed management have increased balance sheet flexibility and positioned the company for growth.

• Asset base includes four operating facilities in Western Canada, with long-term contracted cash flows from municipal feedstock and utility offtake agreements.

• Ownership is concentrated, with 72% held by board, management, and aligned institutional investors.

• Team includes experienced leaders in energy, operations, finance, and infrastructure, supporting scalable growth.

Financial performance and growth outlook

• Invested nearly CAD 80 million in core assets, with visible EBITDA growth driven by increasing RNG production and optimization.

• Raised CAD 7 million at CAD 0.60/share in May and CAD 2 million in January, with a current market cap of approximately CAD 10 million and 25.5 million shares outstanding.

• Asset-level financing completed in January enhances financial flexibility for expansion.

• Current run-rate EBITDA is around CAD 3 million, with optimization expected to increase this to CAD 5–8 million, implying a potential enterprise value of CAD 40–80 million.

• Equity value could rise to CAD 25–65 million in the near term, compared to the current market cap.

Operations, contracts, and market environment

• RNG production from Fraser Valley Biogas and GrowTEC is about 200,000 GJs/year, generating roughly CAD 6 million in revenue at CAD 30/GJ.

• Facilities process about 60,000 tons of organic waste annually, earning tip fees of CAD 120–150/ton.

• Long-term fixed price contracts with utilities (10–20 years) underpin stable cash flows, with additional upside from carbon credits.

• Canadian contracts are take-or-pay, while U.S. market exposure offers potential for higher spot prices and tax credits.

• Achieved 97% nameplate capacity at core RNG assets, with ongoing optimization and reliability upgrades.