Pathfinder Ventures Inc · TSXV:RV
Pathfinder Ventures — Q4 2023 Earnings Presentation
35 slides from Pathfinder Ventures's earnings presentation, October 2023
Slide 1: Q4-2023 RV Resorts | RV Communities | RV & Self Storage
Q4-2023 RV RESORTS | RV COMMUNITIES | RV & SELF STORAGE TSX.V: RV | OTCQB: RVRVF
Slide 2: Forward-Looking Information
The contents of this presentation and any attachments are confidential and are intended solely for the addressee. The information may also be legally privileged. This transmission is sent in trust, for the sole purpose of delivery to the intended recipient. If you have received this transmission in
Slide 3: Explore. Stay. Store.
EXPLORE. STAY. STORE. The outdoor recreation industry has changed... Significantly. Pathfinder Ventures Inc. is building a network of branded family-oriented RV Resorts, RV communities and storage solutions. Pathfinder is staged to capitalize on the new demands and growth of the recreational vehicle
Slide 4: Table of Contents
1. Industry Overview …….…… 5 2. About Our Business .…… 10 3. Portfolio Overview ……….. 14 4. Growth Strategy ………… 17 5. Financials …………… 21 6. Share Ownership ……….... 24 7. Market Comparatives … 26 TABLE OF CONTENTS 8. Upward & Forward ….….. 29 9. Our Team …..……….. 32
Slide 5: Industry Overview
PX INDUSTRY OVERVIEW PATHFINDER — Ventures —
Slide 6: Consolidation: Fragmented Industry Target Properties
CONSOLIDATION: TARGET PROPERTIES FRAGMENTED INDUSTRY PROJECT COMPLETION Private RV parks and campgrounds: Outdated Properties Extensive Site Development • Legacy infrastructure and facilities 3,500 • West-coast themed playgrounds • Aesthetic improvement potential in Canada and pools • Amenities requ
Slide 7: RV Shipments 1980-2021 and RV Market Statistics
RV SHIPMENTS 1980-2021 600,000 550,000 500,000 450,000 400,000 350,000 300,000 250,000 CANADIAN MARKET HIGHLIGHTS 200,000 150,000 $2.3 billion RV/Camping Industry in Canada 100,000 2.1 million Canadians own an RV (2019) 50,000 90% RV parks report increasing demand 0 8 million RV trips made annually
Slide 8: Interest Rates vs. Real Estate
INTEREST RATES VS. REAL ESTATE Real estate is an Market Volatility Fixed interest rate Real Estate essential service, favors real estate. debt is inflated away is a hedge property cannot Real estate is a safe as property against inflation be replaced haven for investors values increase REITS OUTPERF
Slide 9: Where Campers Spend
SPENDING TOTAL CONSUMER 24% ACCOMMODATION CAMPSITE FEES 26% FOOD & BEVERAGE 13% RECREATION & ENTERTAINMENT 37% RV EQUIPMENT & STORAGE WHERE CAMPERS SPEND • *stats from RVDA Canada & 2018 North American Camping Report
Slide 10: About Our Business
PX ABOUT OUR BUSINESS PATHFINDER — Ventures —
Slide 11: Value Creation Through Acquisitions, Development and Partnerships
1 2 3 VALUE CREATION THROUGH ACQUISITIONS, DEVELOPMENT AND PARTNERSHIPS ROLL-UP AND GREEN FIELD PARTNERSHIP/ REDEVELOPMENT DEVELOPMENT MANAGEMENT • Target screening based • Strategic land • Registered lease or on location and size acquisition management contract with First Nations / • Redevelopment
Slide 12: Pro Forma Property Operating Model
PRO FORMA PROPERTY OPERATING MODEL CAMP RESORTS COMMUNITIES STORAGE A niche hospitality brand developing Affordable long-term / seasonal stay solution providing Storage solution providing and rolling up owned/branded campsites steady cash flow high margin cash flow REVENUE: REVENUE: REVENUE: $1m-$1.
Slide 13: The Pathfinder Brand
THE PATHFINDER BRAND AFFORDABLE RESORT-STYLE OUTDOOR HOLIDAY CLOSE TO POPULOUS RESIDENTIAL HUBS # OF AMENITIES & PROGRAMS HOTELS Peak Season Daily Rate: $200 - $400 Peak Season Daily Rate: $65 - $70 PROVINCIAL PARKS BC FORESTY Peak Season Daily Rate: CAMP SITE $20 - $40 Peak Season Daily Rate: $0 -
Slide 14: Portfolio Overview
AN PORTFOLIO OVERVIEW PATHFINDER — Ventures —
Slide 15: Owned & Leased Portfolio $16.5M of Estimated Portfolio Value
OWNED & LEASED PORTFOLIO $16.5M OF ESTIMATED PORTFOLIO VALUE ACQUIRED OCTOBER 2020 ACQUIRED OPERATING CO. DECEMBER 2020 ACQUIRED DECEMBER 2020 Location: Agassiz-Harrison Location: Fort Langley Location: Parksville South B.C. South B.C. Vancouver Island Land Type: Freehold Land Land Type: Registered
Slide 16: Management Services Portfolio Launched September 2023
MANAGEMENT SERVICES PORTFOLIO LAUNCHED SEPTEMBER 2023 SIGNED SEPTEMBER 2023 Location: Sunshine Coast, BC # of Sites: 40 First Right of Refusal May 2024
Slide 17: Growth Strategy
PX GROWTH STRATEGY PATHFINDER — Ventures —
Slide 18: Upcoming Consolidation, Development & Management Services
UPCOMING CONSOLIDATION, DEVELOPMENT & MANAGEMENT SERVICES BRITISH COLUMBIA 3 RV Resorts in Operation 1 RV Resorts Expansion 1 Management Services Agreement PATHFINDER FORT CAMPING: LANGLEY 3 PATHFINDER CAMP RESORTS: PARKSVILLE 2022/23 Target Acquisitions PATHFINDER CAMP RESORTS: MANAGEMENT SERVICES:
Slide 19: Market Acquisitions
WESTERN CANADA Western Canada has everything an outdoor enthusiast could ask for: scenic trails, iconic nature, hot summers, swimming at the beach, boating, golfing, vineyards – and more. PACIFIC NORTH WEST MARKET ACQUISITIONS RV RESORT TARGET The Pacific Coast is a camper’s paradise with oceans, mo
Slide 20: Continued Value Growth Through Acquisitions
CONTINUED VALUE GROWTH THROUGH ACQUISITIONS Accretive Acquisition Strategy 1 3 Estimated Number of Communities Revenue (in 10 ACTIVE Projects $millions) ACTIVE DEAL BY Camp Resorts PROPERTY TYPE PURSUITS Storage Tracking 9 $9.4 6 LOI 0 - Due Diligence 0 - Closing 0 - $1.40 $1.30 Follow-on Investment
Slide 21: Financials
FINANCIALS
Slide 22: Organic Growth Through Asset Optimization
ORGANIC GROWTH THROUGH ASSET OPTIMIZATION Camp Resorts seeing strong growth in customer demands since the opening in FY21. Organic growth to continue into H2 FY22 and beyond through increased occupancy, expanded offerings and rate increases. FY22 OCCUPANCY REVENUE NOI excl. CORPORATE EBITDA incl. CO
Slide 23: Transformative Debt Strategy
TRANSFORMATIVE DEBT STRATEGY FINANCING Each property targeting 50-60% Loan to Value STRATEGY Consolation of demand term loans into term mortgage loans (FY23) Refinancing of convertible debt (FY23) DEBT SNAP SHOT ($ in MILLIONS) DEBT HIGHLIGHTS ($ in MILLIONS) Maturity in next five years 100% 10.0 1.
Slide 24: Share Ownership
SHARE OWNERSHIP PATHFINDER — Ventures —
Slide 25: Ownership
Insider Ownership Share Outstanding SHARE PRICE (September 20th, 2023) $0.035 Market Cap ~$2.4M Common Stock 68,681,976 Warrants 5,616,181 19% Options 3,466,058 Total Fully Diluted 77,764,215 Avg. Exercise Price of Warrants $0.22-0.33 81% Corporate Debentures Founders Note $800,000 Maturity December
Slide 26: Market Comparatives
as MARKET COMPARATIVES PATHFINDER — Ventures —
Slide 27: Market Snapshot / Capitalization
MARKET SNAPSHOT / CAPITALIZATION MARKET CAPITALIZATION 200 DAY COMMON SHARES [ September 20, 2023] MOVING AVERAGE OUTSTANDING $2.4M $0.052 68,681,976 TSX.V: RV | OTCQB: RVRVF 027
Slide 28: Compelling Value Opportunity
COMPELLING VALUE OPPORTUNITY TSX: MHC.UN 12.7x NYSE: ELS 11.4x NYSE: SUI 8.6x TSX.V:RV 4.9x SHARE INFORMATION AS OF DECEMBER 6TH Pathfinder TEV/3Q22 LTM Sales 28
Slide 29: Onward & Upward
PX ONWARD & UPWARD PATHFINDER — Ventures —
Slide 30: Milestones 2019/2020 to 2023
2019/2020 2021 2022 2023 • Company Founded • Major Renovations • Continue Asset Stabilization • Launch Management Services • Team Positioned • Open 2 new RV Resorts • Key Management Additions Division • Secured Financing • Launch Pathfinder Camp • USA Stock Listing • Agassiz-Harrison Site Expansion
Slide 31: Philosophy
With over 100 years of relevant experience in business, investing, real estate development and PHILOSOPHY hospitality, our team is set to carefully grow our portfolio into a network of family-friendly RV resorts and campgrounds in desirable locations. Our main priority is providing customers with an
Slide 32: Our Team
PX OUR TEAM PATHFINDER — Ventures —
Slide 33: Management
Joe Bleackley Stan Duckworth Jennifer lee CEO / Founder / Director Chief Operating Officer CFO An entrepreneur and business leader who has Stan's an accomplished leader with 20+ years After graduating from Schulich School of built and led successful teams through of consulting and Sr. management Bus
Slide 34: Advisory Board
Chris Clarke Jayson Faulkner Randy Hendrickson GM / Traveland RV Group President / Bridal Falls Gondola Founder / CEO / United Park Brokers Chris graduated from BCIT in Operations Jayson was Co-Founder, General Partner and General Randy is a hospitality & tourism industry veteran of Management and c
Slide 35: Contact
9451 GLOVER RD., LANGLEY BC | 604-914-2575 | PATHFINDERVENTURES.CA TSX.V: RV | OTCQB: RVRVF