ANTEOTECH LTD — Board/Management Information 2017

Nov 5, 2017

Webinar November 6[th] 2017

Dr. John Hurrell, Chairman, Anteo Diagnostics

Disclaimer

The purpose of the presentation is to provide an update of the business of Anteo Diagnostics (ASX:ADO). These slides have been prepared as a presentation aid only and the information they contain may require further explanation and/or clarification. Accordingly, these slides and the information they contain should be read in conjunction with past and future announcements made by Anteo and should not be relied upon as an independent source of information. Please contact Anteo and/or refer to the Company's website for further information.

The views expressed in this presentation contain information derived from publicly available sources that have not been independently verified. No representation or warranty is made as to the accuracy, completeness or reliability of the information.

Any forward looking statements in this presentation have been prepared on the basis of a number of assumptions which may prove incorrect and the current intentions, plans, expectations and beliefs about future events are subject to risks, uncertainties and other factors, many of which are outside Anteo Diagnostics Ltd’s control. Important factors that could cause actual results to differ materially from assumptions or expectations expressed or implied in this presentation include known and unknown risks. Because actual results could differ materially to assumptions made and Anteo’s current intentions, plans, expectations and beliefs about the future, you are urged to view all forward looking statements contained in this presentation with caution.

This presentation should not be relied on as a recommendation or forecast by Anteo Diagnostics Limited. Nothing in this presentation should be construed as either an offer to sell or a solicitation of an offer to buy or sell shares in any jurisdiction.

2

AGENDA

1. Challenges & Outcomes

2. Strategy and Goals of the Company

3. Board Structure

4. Update on Opportunities

5. Summary

3

Synopsis

• Anteo has been through a difficult period but has survived with cash in the bank and a bright future

• STABILITY so

• The company has initiated major initiatives in order to create that the company can focus on the important issues of leveraging our IP to grow the value of the company:

• A Strategic Plan has been developed and is being implemented

• A formal external Board review is underway and skills alignment with the strategic plan assessed

• A number of potential partnerships are in discussion/negotiation

• The key to ongoing success will be the establishment of a STABLE Board and Management structure:

• Keep staff focused on the right things

• Attract and retain quality talent

• Be attractive for future investors

4

Challenges and Outcomes

5

Challenges

Over the past 12 months the company has been in survival mode. Issues facing the company over this period have been:

• Limited and dwindling cash

• Looming financial obligations to the Vendors

• Downward pressure on the share price

• Board and Management instability over past 18 months

• It was clear that urgent action was required.

• Potential options were:

• Raise capital

• Merge the company with a financially stronger but synergistic company

• ▪ Sell DIAsource

• The raising of capital at a depressed share price was not a viable option

• o The Board pursued the merger and divestiture options simultaneously

6

Outcomes

• A loan from a few Shareholders, Directors and Management extended the cash runway until a solution was achieved

• Discussions were unsuccessfully held with two potential merger candidates

• Approximately 50 companies were identified and discussions held regarding purchase of DIAsource

• We closed a transaction on 5[th] September with BioVendor and after meeting financial obligations and transaction fees Anteo received approximately $6million

• An ongoing Board review and identification of skill gaps

• Company has:

• a restructured Balance Sheet,

• cash in the bank,

• a reasonably solid IP position,

• a clear path forward,

• A lot of work ahead to exploit the potential of our core technology

7

Strategy and Goals

8

Our Purpose

Where we want to be in 2022

Apply Anteo surface technologies to solve important industrial problems and create shareholder value

9

Our Vision

Where we want to be in 2022

Anteo will be the go-to-provider for innovative surface modification solutions

10

Our Strate ic Statement g

Where we want to be in 2022

We aim to become the leading player in the surface modification technology platform industry by 2022. To do this we shall implement a growth strategy by exploiting our superior ability to innovate, manage our intellectual property and create solutions to industry problems. We shall also improve our business development capability to enable us to team with suitable partners, suppliers and service providers. In so doing we shall establish a sustainable annuity stream and be seen as the preferred provider of surface products to our customers.

11

Internal Goals

1. Implement a Strategic Plan to chart the path to commercial success

2. Ensure an effective, structured, robust business development capability to attain our strategy

3. Assure robust protection of, and succession planning around, our IP/intellectual capital

4. Implement an effective recruitment and retention program (incl. CEO & business development) with skills that will support the strategic plan and enable us to become an employer of choice

5. Establish an Investor relations strategy

12

External Goals

1. Establish a sustainable profitable revenue stream

2. Commercialise Anteo IP across selected industries

3. Ensure that Anteo participates as a partner high in the value chain

4. Detail the value proposition for our solutions for selected industries

5. Enhance our reputation and inform our stakeholders of company progress through clear and targeted communication

13

Key Initiatives

Next 24 Months

• Strategy implementation

• Capitalise on our Energy Storage Technology

• Optimise the ongoing discussions with potential Life Science partners

• Initiate Medical Devices partnerships to develop MedTech applications

• Business development enhancement:

• Initiative identification/assessment

• ▪ Partnerships/Relations enhancement

• Market and competitive analysis

• Improve investor relations

14

Anteo Diagnostics Strategic Directions Statement

2018 - 2022

Who we are and where we are going

Our Purpose

Why we exist and what we do

To apply the Anteo surface technologies to solve important industrial problems and create shareholder value.

Our Vision

Where we want to be in 2023 Anteo will be the go-toprovider for innovative surface modification solutions.

Our Strategy Statement

The broad means by which we shall achieve our vision

We aim to become the leading player in the surface modification technology platform industry by 2023. To do this we shall

implement a growth strategy by exploiting our superior ability to innovate, manage our intellectual property and create solutions to

industry problems. We shall also improve our business development capability to enable us to team with suitable partners, suppliers and service providers. In so doing we shall establish a sustainable annuity stream and be seen as the preferred provider of surface products to our customers.

The two perspectives

External

Internal

Our goals These will be our key achievements

Goal 1 Goal 2 Goal 3 Goal 4 Establish a Commercialise Detail the value Enhance our profitable Anteo IP across proposition for reputation revenue annuity selected our solutions for through clear stream. industries. selected and targeted industries. stakeholder communication.

Goal 5 Goal 6 Goal 7 Ensure an Ensure robust Implement an effective, protection of, effective structured, and succession recruitment and robust business planning retention development around, our program. capability. IP/intellectual capital.

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Board Structure Independent Board Review

Conducted by

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Successful St rat Successful St egy Implementationegy Implementation requires a Skills Based board requires a Skills Based board

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Source: Effective Governance

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Board Competencies – A Structured Process Utilising A Proven Framework

The essential governance knowledge and understanding all directors should possess or develop if they are to be effective board members. Includes some specific technical competencies as applied at board level.

Experience in and knowledge of the industry in which the organisation operates.

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Behavioural
Governance
Technical
Industry
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Source: GC Kiel et al., 2012, Directors at work: a practical guide for boards , Sydney: Thomson Reuters.

The attributes and competencies enabling individual board members to use their knowledge and skills to function well as team members and to interact with key stake holders.

Technical/professional skills and specialist knowledge to assist with ongoing aspects of the board’s role.

Source: Effective Governance

18

Detailed Attributes-not just a tick: eg. Accounting

	None (1)	• No professional experience in accounting • No understanding of basic accounting concepts including cash flows, assets, inventory, short and long term debt, balance sheets, income types, payroll or similar • No practical accounting exposure at an organisational level • Cannot interpret basic accounting data • No understanding of methodology and terminology used in accounting or financial analysis • No understanding or experience in tax related matters • Holds no formal or informal training or qualification in accounting and has not been exposed to the concepts	• No professional experience in accounting • No understanding of basic accounting concepts including cash flows, assets, inventory, short and long term debt, balance sheets, income types, payroll or similar • No practical accounting exposure at an organisational level • Cannot interpret basic accounting data • No understanding of methodology and terminology used in accounting or financial analysis • No understanding or experience in tax related matters • Holds no formal or informal training or qualification in accounting and has not been exposed to the concepts	• No professional experience in accounting • No understanding of basic accounting concepts including cash flows, assets, inventory, short and long term debt, balance sheets, income types, payroll or similar • No practical accounting exposure at an organisational level • Cannot interpret basic accounting data • No understanding of methodology and terminology used in accounting or financial analysis • No understanding or experience in tax related matters • Holds no formal or informal training or qualification in accounting and has not been exposed to the concepts
	Basic (2)	• Director understands fundamental accounting standards • Can identify the key elements of financial reports such as profit and loss, cash flow, assets and liabilities • Demonstrated ability to dissect given sections of the company’s balance sheet, income statement and statement of cash flows • Some understanding of accounting methodologies and calculating standards • Exhibits an appreciation for the relationship between account keeping and tax liability • May have worked in the finance section of an organisation • May have had access to informal training in accounting
	Operational (3)	• Demonstrated understanding and application of standard accounting principles and concepts including cash flows, assets, inventory, short and long term debt, balance sheets, income types, payroll or similar • Is able to identify the tax implications applicable to operations • Has worked with the accounts of an organisation for a period of 5 years or more • Can identify and provide analysis of the key elements of accounts statements and reports • Demonstrated ability to dissect many elements of the company’s balance sheet, income statement and statement of cash flows • May hold a Diploma or similar in accounting practice and may be a member of the National Institute of Accountants • Has a working understanding of accounting methodologies and calculating standards
	Extensive (4)	• Is a member of CPA Australia or the Institute of Chartered Accountants in Australia • Holds at least a Bachelors Degree in Accounting or directly aligned discipline • Has worked extensively in accounting across medium to large organisations for a period of 10 years or more • Has experience with developing and reporting key accounts data in periodic reports • Has lead a team with accounting responsibility for more than 7 years • Has advanced knowledge of accounting processes and standards • Proven ability to provide oversight and acknowledged high level advice on accounting processes • Is able to identify the tax implications applicable to operations and ensure compliance across an organisation • Has demonstrated an ability to think strategically about accounting across an organisation, enhancing performance as a result
	Expert (5)	• Has been a career financial executive in large organisations • Appreciates and has demonstrated an ability to apply superior knowledge of accounting principles strategically • Has superior understanding of/capability in accounting • Has lead a team with significant accounting responsibility for more than 10 years • Is a Fellow of CPA Australia or the Institute of Chartered Accountants in Australia • Holds a Masters Degree or higher in accounting or directly aligned discipline • Has significantly contributed to research and associated literature in the Accounting discipline • Has worked for 15 or more years in accounting and has provided expert technical advice on complex accounting issues • Appreciates and has demonstrated an ability to apply superior knowledge of accounting principles strategically • Regularly provides advice on tax implications applicable to operations, ensures compliance across an organisation and locates areas of strategic opportunity for the entity • Sought after ability to provide oversight and acknowledged high level advice on accounting processes • May be an acknowledged expert witness
		Self-Assessment	Highest Rating Required on the Board for this Competency	Minimum Number of Directors Required with Highest Rating
	Response
	Source: Effective Governance

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Overall Board Skills Results

Self Assessment

Section	Met	Not met
IndustryExperience and Knowledge	5	0
Technical Skills and Experience	10	0
Governance Competencies	7	4
Behavioural Competencies	10	0

Table 1: Competencies held and not held by competency area – current Board only

	Director	Director	Director	Director	Director
	Geoff Cumming	John Hurrell	Matt Sanderson	Rolf Sickman	Alan Studley
Consideredfor Re-Election	2017	-	2017	-	2017
Meeting or Above Board Expectations	16	19	12	19	30
Under Board Expectations	20	17	24	17	6

Table 2: Number of skills held and not held for each Board member

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Source: Effective Governance

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Anteo Diagnostics Board Skills 2017: Copyright 2017 Effective Governance Pty Ltd. This template has been provided for the exclusive use of Anteo Diagnostics and can not be used further, without permission from Effective Governance.	Anteo Diagnostics Board Skills 2017: Copyright 2017 Effective Governance Pty Ltd. This template has been provided for the exclusive use of Anteo Diagnostics and can not be used further, without permission from Effective Governance.	Director	Director	Director	Director	Director
		Geoff Cumming	John Hurrell	Matt Sanderson	Rolf Sickman	Alan Studley
	Considered for Re-Election	2017	-	2017	-	2017
Industry Experience and Knowledge	Intellectual Property (IP)Management		✓
	Global Marketingand Communications	✓	✓
	Chemical Engineering/Chemistry		✓
	ASX-listed CompanyExperience	✓				✓
	Business Development(Global)	✓	✓		✓
Technical Skills and Experience	Accounting					✓
	Finance				✓	✓
	Law				✓
	Information Technology					✓
	Risk Management					✓
	Human Resource Management		✓			✓
	StrategyDevelopment and Implementation		✓		✓	✓
	CEO/Senior Management Experience in Substantial Organisations	✓	✓		✓	✓
	ContemporaryCorporate Governance					✓
	Commercial/Business Experience Acumen	✓	✓		✓	✓
Governance Competencies	Strategy		✓		✓	✓
	Financial Literacy					✓
	CEO Selection,Monitoringand Evaluation		✓		✓	✓
	Monitoring		✓			✓
	Compliance					✓
	Risk Management					✓
	PolicyFrameworks					✓
	Networking	✓	✓	✓		✓
	Stakeholder Communication	✓		✓		✓
	Decision Making	✓	✓	✓	✓	✓
	Effective Governance				✓	✓

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Whilst currently covered, there is no back-up in the areas of Financial Literacy, Compliance, Risk Management and Policy Frameworks.

Source: Effective Governance

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Recommendations

	For Board to undertake
1.	The Board collectively reassess the responses from this review to gain agreement on the responses provided and the number of Directors and the competency levels required;
2.	The Board review the gaps provided in the detailed results and update the Director’s position description accordingly;
3.	The Board consider if governance professional development for the current Directors may address any identified gaps;
4.	In mid-2018, all Directors conduct a peer review of each Director’s competencies to further refine the results of this skills review from being a self-assessment to an assessment by the Director’s peers as to how each Director is contributing; and
5.	The Board’s succession planning includes an inventory of the competencies that an incoming Director/Committee member would need to bring to the Board/Committee.

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Source: Effective Governance

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Update on Opportunities

November 2017

23

What is Anteo Technology? - Different Types of Metal-ion Polymers

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A stable coordination
A stable coordination surface
on any substrate. surface on hydrophobic M M M M
substrate.
M M M M
Binding to any electron
donating groups on 2 . Substituted metal-ion polymers
hydrophilic or hydrophobic (amphiphiles) binding to very
surfaces. hydrophobic surfaces, or forming
M M M M
lyposomes and lipid bi-layers.
1. Different size metal-ion
polymers give different
binding characteristics
M M M M M M M M
4. Capped metal-ion
3. Drug eluting surface
polymers to control rate of
coatings
binding to surfaces
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IP Assets: Medical and Diagnostics, Energy

AP011 “Conductive Composites”

Medical Devices

Controlled Release of small molecules. AP008 “Controlled Competitive Exchange”

Key

Biomolecules for medical devices applications. AP007 “Functional Coatings”

Uniting Factors: -Molecular recognition -Electrodes

Batteries & Energy

Protecting Materials, swelling/shrinking, partial solublization. AP009 “Composition”

Improving mixing of different particles. “Homogeneous Composites” merged into AP011

Diagnostics

Linker and bio-conjugate chemistry. AP005 “Conjugating Molecules to Particles”

Binders for porous materials.

“Activation Porous Materials” merged into AP008

Binders for biological and synthetic materials. AP002 “Use of Metal Complexes” AP003 “Binding Systems”

Binders for hydrophobic materials. AP004 “Heterofunctional Binding Systems”

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Opportunities & Market Focus

2018 and Beyond

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• Si Anodes • Infectious
Total market = • Cathodes diseases
• Binders • Chronic Total market
$6bn
Diseases > $2.5bn
Point of
Energy
Care (PoC)
AnteoCoat
AnteoBind
In Vitro
Medtech
Diagnostics
AnteoRelease
AnteoBind
Total market • IVD Reagents • Cardiac Total market
= 2bn (stents &
catheters) > $30bn
•
Orthopedic
implants
Next 2 years < 5 years > 5 years
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ENERGY

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Energy: Demand, Problem and Unmet Need

• The battery industry is in demand for low cost, high capacity, fast charging batteries with long cycle lives for automotive, consumer and industrial applications.

• Problem: New active high energy anode and cathode battery materials could deliver high capacity BUT are currently limited by their stability.

• Example: swelling/shrinking problem of silicon, tin, germanium based anodes and sulfur based cathodes.

• Example: partial solubility of new cathode materials in electrolyte.

• Need: The industry requires stable, high capacity battery materials at a low cost.

28

Anteo Technology Potential in Battery Field

• External evaluation on Anteo Technology by Polaris Battery Labs in USA was very positive. Not all questions answered yet.

• Presently only focused on the Silicon Anode and Anode Binders

• Very early data and theoretical considerations indicate that Anteo technology can have a positive effect on next Gen Cathode materials and related Binder performance.

• Potential (not shown yet) for an additive effect with using Anteo Technology in manufacture of the anode and cathode materials

• Currently have small team travelling to Polaris Labs to:

• A) discuss their report and address all our questions

• B) discuss

  • Next steps including full data development of data package

  • Potential collaboration/contract development work on anode, cathode and related binder components

  • Potential commercial partners

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Im roved Structural Inte rit with AnteoCoat p g y

Initial tests indicate AnteoCoat:

o provides strong bonds between silicon and binder which enhances structural integrity.

o still maintains structural integrity even after many hundreds of deep charge/discharge cycles and improves battery cycle life.

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Example of SEM images of electrodes after >500 deep charge/discharge cycles. White bar (bottom, left in image) equals 10 micron. Without inclusion of AnteoCoat (Left) there is large deformation and damage compared with inclusion of AnteoCoat (Right).

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Stron Adhesion with AnteoCoat g

• Photographs of silicon based anodes after 1000 deep charge/discharge cycles.

• Without inclusion of AnteoCoat (Left) there is cracking and the anode active material is easily flaking off the copper current collector. With inclusion of AnteoCoat (Right) homogeneity and stability of the anode material, and its adhesion to current collector is maintained.

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Stron Adhesion with AnteoCoat g

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A) Control (no AnteoCoat)

B) With AnteoCoat

Photos of a metal complex coated 5-10 um cathode electrode

Photo A is the control without AnteoCoat. Picture B is the same material with AnteoCoat. Both half-coin cells were cycled 1,000 times (deep charge and discharge at 0.5C, 1C=150 mAh/g).

Cells were opened exposing the cathodes In the picture B, the metal complex coated cathode electrode was still intact with some residual white separator material, but the control electrode (A) was cracked and majority of the metal complex cathode material had dislodged from the supporting foil.

32

Polaris Report Confirmed Progression of AnteoCoat IP and Continued Development

o “There are a number of handling and other benefits to Anteo’s Coating solutions that will allow easy adoption to current manufacturing plants. They are as follows;

• Work in water or organic solvents, and can be formulated using GRAS (Generally Regarded as Safe) materials allowing simplified waste disposal. This will have a cost benefit to battery manufacturer.

• Coatings are very thin (a few nanometres) and do not take up any significant volume in the battery cell. This has a performance benefit to battery manufacturers.

• Can be used on Si materials with wide range of particle sizes from nanometre up to micrometre. This means flexibility in uptake and an increase in market share.

• Works on commercially available Si particles and lowers cost when compared to specially designed Si nanomaterials.

• Work with different types of polymer binders with a range of molecular weight (MW), especially work with less viscous low-MW polymers, which can facilitate Si slurry mixing and electrode casting processes.

• Does not require silica oxide removal processing with highly corrosive HF."

33

Anteo Energy: Market Feedback Provided by Global Com anies p

We talked to 75% of global battery cell market = $17bn

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Anteo’s
value is:
- Improved
cycle life
- More
energy
- Cost?
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Possible opportunities: Silicon particle coat or binder.

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Anteo‘s Addressable Markets: Lithium-ion Battery Value Chain

Cathode market: $4.7bn Anode market: $1.16bn Main Anode and cathode markets: o 70% China o 25% Japan

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Lithium Ion Batter Goals to be develo ed with Polaris y p

2018

• Refine the existing commercial strategy to drive development and define a technology monetization in the near to mid term future.

• Test capacity improvement @1000 cycles within 12 months. What is an achievable goal?

• AnteoCoat scale up allowing production of 1 tonne silicon coated particles (nano and micro sized particles) per year by 2019. Could we do this?

• Our cells improve the activation of silicon, enabling more effcient use of active materials and hence cost improvment: By how much?

• Confirm data on Cathode materials and binders

• Commercial data package completed

• Substantive discussions with potential battery/supplier partners, who and when?

36

Anode Market Projection

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Source: XG Sciences Inc, 2016

37

Lithium Ion Batteries - Environment

Samsung’s Electric Vehicle Goals

• By 2018:

• EV driving range = 500km.

• By 2022:

• 600km drive range = High Ni cathode and silicon materials in anode – increase Silicon loading.

• Samsung believes drive range beyond 750km – post Li ion batteries – Lithium air – by 2030.

38

Li-Ion Energy Capacity Improvement

Samsung >750km drive range: Post Li-ion battery: o Lithium air, Lithium metal by 2025-2030.

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Energy capacity improvement direction
(Samsung)
30%
40%
300km (2017) <500km (2018) >500km (2020)
Driving range of compact size EV
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39

Time to Market for New Lithium Ion Battery Material

Our window of opportunity

New competing technologies: o Lithium air by 2030.

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40

Critical Success Factors

• External:

• Government subsidies (China)

• Global economy and oil price

• Competition to improve efficiency cost effectively

• Strong cost and safety pressure in industry

• Internal:

• Refined commercialization plan

• Understand the working mechanism of AnteoCoat

• Building a strong information and data package to excite potential partners

• Resources: Outsource development due to limited pool of skilled and experienced battery scientists and expensive equipment

• Capital to drive development expeditiously

41

POINT OF CARE

42

Point of Care

Main PoC markets:

• Blood Glucose, rapid coagulation and cardiac marker testing.

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43

Point of Care – Environment and Trends

• Increase in chronic and infectious diseases (e.g. respiratory diseases and Malaria)

• New technology trends such as molecular PoC and liquid biopsy

• Western hospitals acquire GP clinics. Hospitals are need to network different PoC in GP clinics

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44

PoC - Opportunities

• Ellume – Infectious disease Lateral Flow (LFIA) test.

• AnteoBind, part of Ellume IP on Quantum Dot detection technology  Increase signal sensitivity and lower Limit of Detection (LoD)

• Clinical trial results released

• Atomo Diagnostics – Discussions on the commercialization of Troponin test (damaged heart tissue)

• Troponin I test (Visual): AnteoBind shows lower LoD compared to existing colorimetric TnI LFIA tests

• Planet Innovation – Infectious disease Lateral Flow test.

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45

Ke Success Factors y

• External:

• Partnering at the high end of the value chain

• Develop partner with complimentary skills e.g. market knowledge and presence, distribution channels

• Build solid business case to define:

  • The need in detail

  • Distribution channels

  • Reimbursement – who pays?

  • Existing competition and established market players

  • Different market dynamics: Developed vs third world

• Internal:

• Assay development capability and resources

• Prioritization

• Investment

46

PoC: Next Steps

• Leverage existing R&D projects and IP to form partnerships to develop products with Anteo being a full partner rather than a service/component provider

• Expand on existing PoC commercilisation strategy and generate business case for the first potential partnership including funding options.

• Generate and execute a staged milestone based R&D plan.

• Expand Anteo‘s R&D assay development team in line with needs.

47

IN VITRO DIAGNOSTICS

48

In-Vitro Diagnostics (IVD)

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49

IVD – U date/O ortunities p pp

o In final stages of negotiation with a large diversified Lifesciences/Healthcare company in China to distribute Anteo reagents into the Chinese IVD market

• Develop a business case driven plan to expand Anteo’s IVD reagents revenue stream through existing and new distributors in Asia, Europe and USA

• Develop/partner in assay development for early cancer detection and other chronic diseases driven by defined need

50

Life Science and IVD

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• Increase in chronic and infectious diseases as well as cancer. Early detection and screening of cancers for oncology drug development.

• Hospital consilidation asks for automated, fast, accurate and low cost diagnsotic tests.

• Combination of diagnostic tests and AI to improve diagnostics and selection of subsequent treatments.

51

Critical Success Factors

o External:

o Government regulation

o Reimbursement

o Competition

o Internal:

• Expand existing assay development capabilities

o Strengthen the business development capability within the company

52

MedTech Opportunities

53

Medical Devices

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54

Medical Devices – Future Areas of Focus

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55

Potential Opportunities

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Orthopedic implants Dental implants > 29 bn market > $4 bn market

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AnteoRelease
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Cochlear implants $3 bn market

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Cardiology (e.g. cathethers, stents) > 10 bn market

56

Critical Success Factors (Early Stage Opportunity Analysis)

o External:

o Government regulation

o Reimbursement

o Competitive technologies

o Internal:

• Resources: lack of skilled and experienced medical device development expertise

• Leverage – Control? (Partnering/JV opportunity with SME in stent and orthopedics or implants)

o Investment

57

Summar y

• We have started down a bright new path with a new broad Vision:

To be the go-to-provider for innovative surface modification solutions

• We now need dedication to the vision and a stable and positive environment to allow the company to thrive along the direction defined by our collectively developed Strategic Plan

• The STABILITY starts at the Board and filters down to the whole company. Please consider carefully when voting on the Directors up for re-election. I encourage you to support the Board’s recommendation and pass all Resolutions so as to establish and maintain stability and allow the current momentum to continue.

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