SEI: Wells Fargo Industrials & Materials Conference Takeaways

Research evidence excerpt

SEI: Wells Fargo Industrials & Materials Conference Takeaways

Equity Research

Company Update — June 11, 2026

Machinery, Industrials & Environmental Services

Solaris Energy Infrastructure, Inc.

Wells Fargo Industrials & Materials Conference Takeaways Equal Weight

Price Target: $82.00

Our Call Ticker SEI

Upside/(Downside) to Target 8.1%

Today we hosted SEI’s CFO Stephan Tompsett and Senior Vice President Yvonne Fletcher at

the Wells Fargo Industrials & Materials Conference. Key takeaways follow. Price (06/11/2026) $75.88

52 Week Range $24.57 - 81.24

(i) Management believes there will be an evolution toward longer-duration contracts — Market Cap (MM) $5,441

from the current 10–15 year framework toward 15–20 year structures, given grid power Enterprise Value (MM) $5,803

can be intermittent and exposes data centers to a single point of failure. Average Daily Value (MM) $192

Dividend Yield 0.6%

(ii) Management noted demand for BTM power generation remains far in excess of

available supply, with the company actively pursuing creative options for new capacity

sources. $ (Dec) Q1 Q2 Q3 Q4 FY

EPS

(iii) Management noted that its distribution capabilities were important to winning 2026E 0.44 A 0.42 E 0.32 E 0.28 E 1.47 E

contracts with customers B and C. Management expects incremental scope opportunities 2027E 0.43 E 0.59 E 0.74 E 0.89 E 2.66 E

to materialize as project designs are finalized. Source: Company Data, Wells Fargo Securities estimates, and Factset.

NA = Not Available, NC = No Change, NE = No Estimate

(iv) Management highlighted the advantages of simple cycle gas turbines for data center Jerry Revich, CFA

applications. They serve well as peaking assets, allow for modular site build-outs, and Equity Analyst | Wells Fargo Securities, LLC