EverGen Infrastructure (EVGN) Investor presentation summary

Platform and portfolio

• Four core operating assets provide 190,000 tonnes/year of organics processing capacity; two core RNG assets have 230,000 GJ/year production capacity.

• Fraser Valley Biogas produces 160,000 GJ/year under a 20-year FortisBC offtake; GrowTEC produces 75,000 GJ/year with FortisBC and Irving Oil offtakes.

• Pacific Coast has a planned 90,000–100,000 GJ/year RNG expansion; Sea to Sky Soils filed a permit to expand organics capacity from 20,000 to 60,000 tonnes/year.

• Pipeline includes two planned RNG expansions at core assets and three large-scale greenfield projects.

Operating performance and growth

• Annualized RNG production trajectory: 215,000 GJ today, 240,000 GJ near term, 330,000 GJ medium term and 500,000+ GJ long term.

• Core RNG assets sustained ~97% uptime; nameplate capacity was achieved and record quarterly RNG production was reported across 2025.

• Record 2026 quarterly RNG production: 43,014 GJ in Q1, 50,071 GJ in Q2 and 51,770 GJ in Q3.

• Strategy moves from operational standardization and optimization to capital-efficient expansions, greenfield development and platform consolidation.

• A $10.5M Clean Fuels Fund award and $13.0M FCC asset-level debt facility were secured; a 20-year FortisBC offtake agreement for Fraser Valley Biogas closed in Jan 2026.

Project economics and EBITDA outlook

• Typical project economics: 150,000–300,000 GJ/year capacity, C$30–50M capex, C$5–7M EBITDA and 50–60% EBITDA margin.

• Model includes contracted feedstock and base RNG revenue; upside drivers include tip fees, higher RNG sales and CFR credits, with 30% of project costs typically grant-eligible.

• EBITDA outlook rises from ~C$5M today to ~C$5–9M near term, ~C$14–18M medium term and C$20M+ long term.

• Illustrative valuation ranges progress from 8–10x and ~C$40–90M enterprise value today/near term, to 10–12x and ~C$140–216M medium term, and 12–14x and ~C$240–280M long term.