Bondholder Presentation

Welcome!
Fetsund, Monday 18 April 2016
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DigiPlex Fet AS (DFAS)
Senior Secured Bond Issue 2014 / 2019
ISIN NO0010712870
DigiPlex Norway AS (DNAS)
Senior Secured Bond Issue 2015 / 2019
ISIN NO0010741747
Bondholder Update
18 April, 2016
Name of presenter
Disclaimer
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This presentation (the “Presentation”) has been produced by DigiPlex Fet AS (“DigiPlex Fet” or “DFAS” ) and DigiPlex Norway AS
(“DigiPlex Norway” or “DNAS”) (DFAS and DNAS collectively the “Companies”) exclusively for information purposes for investors in the
Companies' respective bond issues “FRN DigipPex Fet AS Senior Secured Bond Issue 2014/2019“ with ISIN NO 0010712870 and ”FRN
DigiPlex Norway AS Senior Secured Bond Issue 2015/2019” with ISIN NO 0010741747 (the “Bond Issues”).
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The information contained in this Presentation has not been independently verified. No representation or warranty (express or implied) is
made as to the accuracy or completeness of any information contained herein, and it should not be relied upon as such. The Companies do
not intend, and do not assume any obligation to update the Presentation. None of the Companies or any of their respective parent or
subsidiary undertakings or affiliates or any such person’s directors, officers, employees, advisors or representatives shall have any liability
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future performance of the Companies, their business and their shares and other securities.
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recipient should consult with its own professional advisors for any such matter and advice.
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AN INVESTMENT IN THE COMPANIES' BONDS INVOLVES RISK, AND SEVERAL FACTORS COULD CAUSE THE ACTUAL RESULTS,
PERFORMANCE OR ACHIEVEMENTS OF THE COMPANIES TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS,
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PRESENTATION.
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Disclaimer
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This Presentation contains certain forward-looking statements relating to the business, financial performance and results of the Companies
and/or the industry in which they operate. Forward-looking statements concern future circumstances and results and other statements that are
not historical facts, sometimes identified by the words “believes”, “expects”, “predicts”, “intends”, “projects”, “plans”, “estimates”, “aims”,
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assumptions, opinions and views of the Companies or cited from third party sources are solely opinions and forecasts which are subject to
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assumptions underlying such forward-looking statements are free from errors nor does any of them accept any responsibility for the future
accuracy of the opinions expressed in this Presentation or the actual occurrence of the forecasted developments.
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jurisdiction where the distribution of this Presentation could involve a breach of laws or regulations or involve any registration requirement or
any requirement for the publication of a prospectus, registration document or similar.
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in any jurisdiction.
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This Presentation speaks as of the date set out on its front page. Neither the delivery of this Presentation nor any further discussions between
any of the Companies, any advisors of the Companies and the recipients shall, under any circumstances, create any implication that there has
been no change in the affairs of the Companies since such date. Neither of the Companies intend to assume or assume any obligation to
update the Presentation or any of the information included herein.
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This Presentation is subject to Norwegian law, and any dispute arising in respect of this Presentation is subject to the exclusive jurisdiction of
Norwegian courts.
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Agenda
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DigiPlex Update
Our Data Centres
IBM/Softlayer at DFAS
Financial Update
Summary
Q&A
Lunch
Tour on location
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Ready for tomorrow
DigiPlex Update
Long term partner
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Background
DigiPlex
DigiPlex in the Nordic region
 One of the leading data centre builders and operators in
Europe with offices in Norway, Sweden and the UK
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 DigiPlex’s data centres provide energy efficient & highly
secure housing for mission critical systems for all types of
occupiers: systems integrators, corporations and
government agencies
 Privately owned since its inception
 Operating in the Nordic region since 2001
Largest data centre operator in Norway
with 3 data centres in operation
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1 operating data centre at Ulven, Oslo
with ~4,500 m2 “white space”
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1 operating data centre at Rosenholm
Oslo with ~1,500 m2 “white space”
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New data centre in Fet municipality with
4,200 m2 “white space” and 20 year term
agreement with EVRY AS, guaranteed by
EVRY ASA
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Building the largest commercial datacentre
in Sweden. 6,000 m2 “white space”, part of
future DC campus with 20,000 m2
available land to host wholesale customers
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NASDAQ = First customer in the
datacentre from January 2016
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Actively egaged in identifying sites in
Finland and Denmark
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Why DigiPlex loves the Nordics
- the data centre perspective
• Lower cost of power
• Plentiful supply of renewable energy
• Cool climate reduces operating costs even
further
• Extremely reliable power grid
• Ample connectivity
• Stable political climates
• Strong economies
• Low geographical risk region
DigiPlex: Recognised Leader for Innovation
Most Recent Awards for Innovation
INNOVATIONS IN FINANCE
• Oslo Bond Issuance #1 2014 (DFAS) – Europe’s first ever data centre bond in
Europe; World’s first ever data centre bond financing construction
• Oslo Bond Issuance #2 2015 (DNAS) – Europe’s second ever data centre
bond issuance
INNOVATIONS IN DESIGN & ENGINEERING
• DCD 2012 EMEA Award for ‘Future Thinking & Design Concept’
• DCD 2015 EMEA Award for ‘Enterprise Data Centre’
• DCD 2015 EMEA Finalist for ‘Service Provider’ and ‘Data Centre Impact’
• MIPIM 2015 Finalist for EMEA ‘Best Innovative Green Building’
• International Security Awards 2014 Finalist ‘Enterprise Risk Management
Project of the Year’
• Uptime Institute 2015 Finalist for ‘Best Security Award’
DigiPlex market share in Norway 2016
Estimated market shares
(occupied space in m2)
2%
2%
DigiPlex
4%
4%
6%
7%
55%
9%
Company
Share
10,200
55%
DigiPlex
Basefarm
2,000
11%
Basefarm
Green Mountain
1,600
9%
Green Mountain
TDC
1,250
7%
TDC
Availo
1,200
6%
Availo
Verizon
830
4%
Verizon
Broadnet
800
4%
Webhuset
420
2%
Kvantel
300
2%
Broadnet
11%
Occupied
space, m2
Webhuset
Kvantel
Sum
10
18,600
100%
Contracted revenue – sector breakdown
DNAS and DigiPlex Rosenholm AS (”DRAS”)
DFAS
39% of contracted revenue is with government affiliated entities, DFAS’s sole customer, EVRY AS, is classified as an Integrator.
underlining the credit quality of DigiPlex’s customers.
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Our Data Centres
100% up time
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Our Nordic sites
Further Nordic expansion is planned
Upplands Väsby,
Stockholm
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Fetsund, Oslo
Ulven, Oslo
Rosenholm, Oslo
DigiPlex Stockholm 1 AB (DS1)
Upplands Väsby, Stockholm
• NASDAQ accepted its Data Halls in January
2016
• > 20 MW power
• Air-to-Air evaporative cooling system operating
at a PUE of 1.1
• Carrier neutral
• 24/7 onsite security with state-of-the-art
systems
• Electromagnetic pulse (EMP) protection
• Plans for further expansion – 20 000 m²
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DigiPlex Norway AS (DNAS)
Ulven, Oslo
• Concrete frame over 4 levels
• Renewal rate 98+%
• 95+% occupied
• 7.6 MVA provision increasable to 12 MVA
• Free air cooled chilled water system
• High grade fire suppression system
• Carrier neutral
• 24/7 onsite security with state-of-the-art
systems
• Electromagnetic pulse (EMP) protection
• Plans for further expansion
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DigiPlex Rosenholm AS (DRAS)
Rosenholm, near Oslo
• Reinforced concrete bunkers
• 95+% occupied
• High grade fire suppression system
• Carrier neutral
• 24/7 onsite security with state-of-the-art
systems
• Card access systems throughout
• Electromagnetic pulse (EMP) protection
• Further expansion initiated
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DigiPlex Fet AS (DFAS)
Fetsund, near Oslo
• Phase 1 opened in January 2015 (6 phases - all
delivered on time)
• 10 MW power
• IT density 2 kW/m2
• Air-to-Air evaporative system operating at a PUE of
1.1
• Tailored for EVRY, one of the largest IT companies in
the Nordics
• Fetsund data centre will enable the accelerated
transformation of EVRY’s improvement program
• IBM Softlayer will be installed in the data centre in
2016 as a part of EVRY’s and IBM’s cloud proposition
• Plans
for further expansion
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IBM/Softlayer at DFAS
Tailored Solutions
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EVRY – The Softlayer deal
• On 1 October 2015 EVRY signed a USD 1 billion, 10 year partnership deal with IBM.
• As a result, Softlayer will become EVRY’s main provider of cloud infrastructure services.
• EVRY and IBM/Softlayer will provide these services from our Data Centre at Fetsund.
• This is just another way that DigiPlex is enabling the cloud!
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Financial update
Sustainable business
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Historical Earnings – DNAS, DRAS and DFAS
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The Ulven data centre (DNAS) opened in 2002, Rosenholm (DRAS) in 2010 and Fetsund (DFAS) in 2015.
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DFAS revenue and EBITDA ramped up during 2015.
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Source: Pre 2015 are from audited accounts. 2015 are from Q4 2015 report (un-audited).
DFAS - 2015 Financial performance
(each 700m2) Delivery date
Phase 1
19-Jan-15
Phase 2
13-Mar-15
Phase 3
1-Jun-15
Phase 4
1-Sep-15
Phase 5
1-Jan-16
Phase 6
3-Mar-16
• Each phase was delivered on time.
• As you can see, financial performance increased as the additional phase was handed over.
• Financial source: Q4 2015 report (un-audited).
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Free cash flow – DNAS and DRAS
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The negative free cash flow for DRAS in 2013 and 2014 is due to CapEx required to achieve full build-out.
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Source: Pre 2015 are from audited accounts. 2015 are from Q4 2015 report (un-audited).
Free cash flow – DFAS
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Source: Pre 2015 are from audited accounts. 2015 are from Q4 2015 report (un-audited).
Summary & Closing
• Construction risk is over at DFAS; all 6 phases completed and
handed over on time; with final acceptance by EVRY taking
place one month ahead of schedule on 3rd March 2016
• EVRY’s occupancy has been greatly enhanced by the IBM
Softlayer deal
• Bondholders position is similarly enhanced
• DNAS & DRAS continue to benefit from almost full occupancy
and high renewal rates
• Observed market trends continue to be favourable
Questions & Answers
Thank you
Lunch
Tour on location