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OFFON

MAMMOTH ENERGY SERVICES, INC.

(TUSK)
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Mammoth Energy Services : Barclays 2021 CEO Energy-Power Conference

09/08/2021 | 08:12am EST

Investor Relations

Presentation

September 2021

Forward Looking and Cautionary Statements

Forward-Looking Statements

The information in this investor presentation of Mammoth Energy Services, Inc. ("Mammoth" or "Mammoth Energy") includes "forward-looking statements." All statements, other than statements of historical facts that address activities, events or developments that Mammoth expects, believes or anticipates will or may occur in the future are forward-looking statements. The words "anticipate," "believe," "ensure," "expect," "if," "intend," "plan," "estimate," "project," "forecasts," "predict," "outlook," "aim," "will," "could," "should," "potential," "would," "may," "probable," "likely" and similar expressions, and the negative thereof, are intended to identify forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this investor presentation may include statements, estimates and projections regarding Mammoth's business outlook and plans, future financial position, liquidity and capital resources, operations, performance, acquisitions, returns, capital expenditure budgets, costs and other guidance regarding future developments. Forward-looking statements are not assurances of future performance. These forward-looking statements are based on management's current expectations and beliefs, forecasts for Mammoth's existing operations, experience and perception of historical trends, current conditions, anticipated future developments and their effect on Mammoth, and other factors believed to be appropriate. Although management believes that the expectations and assumptions reflected in these forward-looking statements are reasonable as and when made, no assurance can be given that these assumptions are accurate or that any of these expectations will be achieved (in full or at all). Moreover, these forward-looking statements are subject to significant risks and uncertainties, including those described in Mammoth's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings Mammoth makes with the Securities and Exchange Commission ("SEC"), which may cause actual results to differ materially from its historical experience and present expectations or projections which are implied or expressed by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: the severity and duration of the COVID-19 pandemic; related global and national health concerns and economic repercussions and the resulting negative impact on demand for Mammoth's services; the volatility of oil and natural gas prices and the actions by the OPEC members and other exporting nations affecting commodity prices and production levels; operational challenges relating to the COVID-19 pandemic and efforts to mitigate the spread of the virus, including logistical challenges; protecting the health, safety and well-being of Mammoth's employees; remote work arrangements; performance of contracts and supply chain disruption; the failure to receive or delays in receiving governmental authorizations, approvals and/or payments; the outcome of ongoing governmental investigations and other legal proceedings, including those relating to the contracts awarded to Mammoth's subsidiary Cobra Acquisitions LLC by the

Puerto Rico Electric Power Authority and contracts for Mammoth's pressure pumping services and natural sand proppant; Mammoth's inability to replace the prior levels of work in

its business segments, including its infrastructure and well completion services segments; risks relating to economic conditions; the loss of or interruption in operations of one or more of Mammoth's significant suppliers or customers; the outcome or settlement of Mammoth's litigation matters, including its litigation with Gulfport Energy Corporation and MasTec Renewables Puerto Rico, LLC; the effects of government regulation, permitting and other legal requirements; operating risks; the adequacy of capital resources and liquidity; weather; natural disasters; volatility in commodity markets; competition in the oil and natural gas and infrastructure industries; and costs and availability of resources.

Investors are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this presentation. Except as otherwise required by applicable law, we disclaim any duty to update and do not intend to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this presentation.

This presentation includes financial measures that are not presented in accordance with generally accepted accounting principles ("GAAP"), including Adjusted EBITDA. While management believes such non-GAAP measures are useful for investors, they should not be used as a replacement for financial measures that are in accordance with GAAP. Please see the Appendix and Mammoth's filings with the SEC for reconciliations of those measures to comparable GAAP measures.

Industry and Market Data

This presentation has been prepared by Mammoth and includes market data and other statistical information from third-party sources, including independent industry publications, government publications or other published independent sources. Although Mammoth believes these third-party sources are reliable as of their respective dates, Mammoth has not independently verified the accuracy or completeness of this information. Some data are also based on the Mammoth's good faith estimates, which are derived from its review of internal sources as well as the third-party sources described above.

September 2021

1

2Q 2021 Financial Performance

  • Revenues of ~$47 million, net loss of ~$35 million and adjusted EBITDA of ~($5) million(1)
  • ~36% of revenue from infrastructure segment
  • Net debt decreased 25% over past 12 months
  • Operating cash flow of ~$4.5 million for the six months ended June 30

Consolidated Revenues and Adjusted EBITDA(1)

Revenue

Adjusted EBITDA (1)

In millions of $

$60

$47

$7

2Q 2020

2Q 2021

$(5)

September 2021

Infrastructure Revenues (2)

In millions of $

$30.2

$17.2

2Q 2020

2Q 2021

Net Debt

In millions of $

$71

$53

2Q 2020

2Q 2021

2

  1. See reconciliation of Adjusted EBITDA to comparable GAAP measure at the end of this presentation and in our filings with the SEC
  2. Infrastructure revenues exclude aviation, engineering, manufacturing and logistics.

Diversified Portfolio of Infrastructure Services

Offering services from design to construction of conventional and renewable infrastructure assets Engineering, Procurement & Construction (EPC)

Transmission

Distribution

Substation

Fiber Optics

Construction

Construction

Construction

Engineering

Aviation Services

Manufacturing

Portfolio Companies - multiple portfolio companies have been operating in this space for several years

Aviation

Engineering

T&D Infrastructure

Manufacturing

September 2021

3

Infrastructure segment excludes aviation, engineering, and manufacturing.

Electric Utility Spending Growing

  • Utilities are investing heavily in the electrical grid driven by:
    • Grid modernization
    • Regulation
    • Fuel Source Switching
    • System Congestion
  • Mammoth's service offerings have significant exposure to this long-term trend

Utility Industry Capex $B(1)

T&D Other

$139.8

$135.6

$132.2

$127.1

$122.8

$120.6

$103.3

$108.6

$92.2

$34

$44

$49

$53

$57

$61

$65

$69

$65

2013

2014

2015

2016

2017

2018

2019

2020E

2021E

September 2021

4

(1) Data compiled from the Edison Electrical Institute and internal estimates

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Mammoth Energy Services Inc. published this content on 08 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 September 2021 12:11:09 UTC.


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Financials (USD)
Sales 2020 313 M - -
Net income 2020 -108 M - -
Net Debt 2020 107 M - -
P/E ratio 2020 -1,89x
Yield 2020 -
Capitalization 92,9 M 92,9 M -
EV / Sales 2019 0,37x
EV / Sales 2020 0,99x
Nbr of Employees 820
Free-Float 75,1%
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Technical analysis trends MAMMOTH ENERGY SERVICES, INC.
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 1
Last Close Price 1,99 $
Average target price 6,00 $
Spread / Average Target 202%
Managers and Directors
Arty Straehla Chief Executive Officer & Director
Mark Layton Chief Financial Officer & Secretary
Arthur H. Amron Chairman
Arthur Lawrence Smith Independent Director
James D. Palm Independent Director
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