Tremisis Energy Acquisition CORP II
Tremisis Energy Acquisition CORP II — SPAC Merger (October 2009)
33 slides from Tremisis Energy Acquisition CORP II's SPAC merger presentation, Oct 29, 2009
Slide 1: Exhibit 99.1
Exhibit 99.1
Slide 2: Safe Harbor
ASIANA IDT Safe Harbor THIS PRESENTATION IS BEING PRESENTED BY TREMISIS ENERGY ACQUISITION CORPORATION II CTREMISIS II FOR CERTAIN OF ITS STOCKHOLDERS, AS WELL AS OTHER PERSONS WHO MIGHT BE INTERESTED IN PURCHASING TREMISIS II SECURITIES, REGARDING ITS ACQUISITION OF ALL THE OUTSTANDING CAPITAL STOC
Slide 3: Forward Looking Statements
ASIANA IDT Forward Looking Statements THIS PRESENTATION CONTAINS FORWARD-LOOKING STATEMENTS WITHIN THE DEFINITION OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. YOU CAN IDENTIFY THESE STATEMENTS BY FORWARD-LOOKING WORDS SUCH AS “MAY,” “EXPECT,” “ANTICIPATE,” “CONTEMPLATE,” “BELIEVE,” “ESTI
Slide 4: Transaction Overview
Transaction Overview
Slide 5: Transaction Summary
ASIANA IDT Transaction Summary = On August 5, 2009, Tremisis Energy Acquisition Corporation II (“TGY”) announced the acquisition of 100% of the capital stock of Asiana IDT, Inc. (“IDT”) from Asiana Airlines, an affiliate of the Kumho Asiana Group (“KAG’), the 9th largest conglomerate in Korea (KAG g
Slide 6: Overview
ASIANA IDT Overview = Major information technology service provider offering total solutions, primarily for the Korean market (including affiliates of KAG) * Consulting, network integration, system integration, system management and other outsourcing and technological services = Predominantly focuse
Slide 7: Investment Highlights
Investment Highlights
Slide 8: Investment Highlights
ASIANA IDT Investment Highlights + Majority of current revenue tied to long-term 5 - 10 year contracts with KAG affiliates —Estimation of annual revenue of $174MM until 2013 —Contract terms are typically re-negotiated annually based on inflation & wage increase —Difficult to be replaced given histor
Slide 9: Valuation
Valuation
Slide 10: Implied Valuation
ASIANA IDT Implied Valuation 1) Cash Stock Shares TGY Stock Price Used in Calculation Implied Equity Value of Asiana IDT Net Debt TEV LTM EBITDA 2009E EBITDA Multiples of EBITDA LTM EBITDA 2009E EBITDA See slide 11 Implied Purchase Price $57,109,050 9,702,800 $7.84 $76,069,952 $133,179,002 (4,976,00
Slide 11: Public Comparable Companies
ASIANA IDT Public Comparable Companies (in millions of USD) Source: Korea Information Service and FNGuide as of Oct 23, 2009 Revenue EBITDA Net Income 08 EBITDA Market Net M Company Cap Debt 06-08CAGR 06-08CAGR 06-08CAGR Margin TEVIEBITDA sk Cac’ $1,189 $793. $1,982 7.3% “11% 13% 9.7% 18.7% Posdata
Slide 12: Post-Deal Cap Table
Post-Deal Cap Table TGY existing shareholders Pre-Acquisition Stock % Stock ASIANA IDT Post-Acquisition % Public 9,602,799 78.9% 9,602,799 48.8% Sang Chul Kim and Others 2,433,168 20.0% 229,870 1.2% Asiana Airlines 129,870 1.1% 9,832,670 50.0% TGY Total 12,165,837 100.0% 19,665,339 100.0% Note: 1) P
Slide 13: Business Overview
Business Overview
Slide 14: Business Snapshot by Service
ASIANA IDT Business Snapshot by Service’) Business Area by Services System Management & IT _$77MM Outsourcing + Legacy system + Network maintenance/upgrade + Supply of HWW and SAW IT Consulting SVM ie + Biz Process Reengineering (BPR) 8% Consul + Process Innovation (Pl) ting + Ubiquitous Strategy Pl
Slide 15: Industry Expertise in High Growth Segments
ASIANA IDT Industry Expertise in High Growth Segments Growth Drivers = Government economic stimulus focused on infrastructure and construction combined with demand for public services (road, railroad, airport, and harbor) + Example: —Intelligent Transport System - 12 new projects in 2009(64MM) — Int
Slide 16: Competitive Advantages
ASIANA IDT Competitive Advantages = Strong industry knowledge and expertise in Construction, Logistics &Transportation segments due to relationship with KAG?) = Leader in RFID technology - domestic patents provide high barrier to entry + Designed and produced first RFID reader and antenna in Korea i
Slide 17: KAG Customers Provide Strong Visibility
ASIANA IDT KAG Customers Provide Strong Visibility = Approximately 77% of IDT sales are to Kumho Asiana Group affiliates’) +Long-term 5-10 year contracts + Estimation of $174MM revenue annually until 2013 Sales Breakdown by Customer” KUMHO ASIANAGROUP [1 Others 25% % of total sales (2008) — my : _ _
Slide 18: Asiana IDT Management Overview
ASIANA IDT Asiana IDT Management Overview = Seasoned management team with strong track record + Average of 20 years experience in the IT services industry Management Team Name Chang-Kyu Kim Title President & CEO Background Former CEO of Kumho Trading and Kumho Resort Seung-bum Oh Executive Senior Vi
Slide 19: TGY Management Overview
ASIANA IDT TGY Management Overview Management Team Name Chang-Kyu Kim le Director and CEO Young-Doo Yoon Director and President Chang-Soo Han Director and Principal Financial Officer Young Ju Lee Director Serck Joo Hong Director Won-Joon Lee Director Hyanghee Seo Director Background President and CE
Slide 20: Korean IT Service Industry Overview
ASIANA IDT Korean IT Service Industry Overview = Korean IT service market expected to grow by an average of 7.2% over next 3 years (Unit : billion KRW) 2009 11.950 = 2009 financial crisis caused slowdown in growth of Korean IT service market 9,858 10:200 P , P \ = New investment slowed due to lack o
Slide 21: Growth Strategy
Growth Strategy
Slide 22: Growth Strategy
ASIANA IDT Growth Strategy Strong overseas business expansion opportunity with KAG affiliates + Affiliates are expanding overseas markets for their products and services in transportation, logistics & construction Future growth being driven by proprietary advanced technologies * Ubiquitous City’, Gr
Slide 23: Future Growth Driver
ASIANA IDT Future Growth Driver U-City Description Establish the IT infrastructure for the ubiquitous and intelligent city complex using our cutting-edge information technologies. The project will initially spend the 2009-to-2010 period in laying out the foundation for the entire scheme of the proje
Slide 24: Future Growth Driver
Future Growth Driver Green IT Advanced Logistics Business ASIANA IDT Description Utilize information technology to boost energy efficiency, promote low- carbon products and other environmentally-friendly technologies *HEMS : Home Energy Management System + Smart Grid, Cloud Computing + Environment w
Slide 25: Financials
Financials
Slide 26: Financial Summary
ASIANA IDT Financial Summary” in USD (8 jn 000s) Asiana IDT 2006 2007 2008 2003E LTM 06/2009 4H2008 © 1H 2009 Exchange rate(USO:KRW) 2555 2292 11026 4,200.0 12013 086.1 13508 Net Sales 152,531 212,553 222,448 «216,086 186,227 114,464 78,628 Growth (yy) _ 39.40% 4.70% -2.86% = - 37.30% Gross Profit 5
Slide 27: Financial Summary
ASIANA IDT Financial Summary” 1) Asiana IDT Net Sales Growth (y/y) Gross Profit Margin Operating Profit Depreciationand Amortization EBITDA Groth 9) Margin Net Income Groth) Margin Sales 245,271 197,504 145,743 » 2006 2007 = 2008 IDT's China subsidiary is included 2006 2007 2008 145,743 197,504 248,
Slide 28: Sales Breakdown by Services
ASIANA IDT Sales Breakdown by Services") (Unit: 1,000 USD) Sales by Services (2008) Type Service 2008 | 2007 Exchange Rate (KRW/USD) | 1360.46] 1102.69] 929.2 SI ‘igai] 69,02 73,236] SM ‘routeourcing | 24284] 76,769] 81,069 we NL 4366] 5.930) 15,229) T Consulting | 1.227] 743d) __ 7920] Others 2.369
Slide 29: Sales Breakdown by Industry
ASIANA IDT Sales Breakdown by Industry”) (Unit: 1,000 USD) Sales by Services (2008) Sales Breakdown Wi Construction [| Transportation (Unit: 9%) ayes Tnduetry | DAtosistcs —C) otners Exchange Rate (KRWIUSD) | 1350.46] 1102.59 929.2 Construction | 7964] 17076| 23,667 Transportation | 22,801] 63,788]
Slide 30: Asiana IDT's Order Backlog
ASIANA IDT Asiana IDT’s Order Backlog Backlog Backlog at August To be completed by ‘o be Completed after istomer Ty| 30th, 2009 December 31°, 2009 , 2009 Exchange Rate 4,249.5 4,200 1,200 Construction 20,419,988 11,840,009 8,579,978 Transportation 56,720,901 32,888,169 23,832,732 Cale Mean Logistics
Slide 31: Appendix
Appendix
Slide 32: Kumho Asiana Group Overview
ASIANA IDT KUMHO ASIANA GROUP Overview Divisions Group Revenue a = Unit : USD MM) + Solidify mgt & maximize profit {a ” + Lay foundation for stable growth & 18,473 20,287 strengthen risk management 14,529 + Secure cost competitiveness of 13,032 " overseas businesses * Maximize labor & organizational
Slide 33: Divisions of Kumho Asiana Group
Divisions of KUMHO ASIANA GROUP Domestic Rank ASIANA IDT Affiliate Sub-area (international Rank) M/S Daewoo E&C Construction 1 USD 7,113MM fear |/weercicrsme| Construction 13 USD 1,540MM Kumho St Construction : : Courier a TeOMM Cases Harbor Loading and KoreaExpress | Discharging or 1 15.1% Transpor
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