ASPERMONT LIMITED. — AGM Information 2020

Feb 2, 2020

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AGM Presentation February 2020 www.aspermont.com

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The leading media services provider to the global resource industries

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Aspermont is the leading media services provider to the global resource industries Aspermont has invested 20 years in building a commercial model for B2B media that is founded on providing high value content to a global subscriber base Aspermont is scaling this B2B model to serve new sectors and new countries and in new languages to maintain global leadership Aspermont is ASX listed with offices in UK, Australia, Brazil, North America and the Philippines

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An evolving business with more and more value-add solutions

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1. Legacy Business Turnaround

Bringing advertising business back into growth, clearing balance sheet debt, closing legal cases, restoring profitability

1. Multi-Media Opportunity

Launching media services across all mediums print, email, desktop, mobile, tablet and face2face

1. Premium Audience Build

Developing a high performance SaaS business with improved retention and expanding pricing depth

1. End to End Client Marketing

360-degree solutions for clients in content development, content marketing, branding and awareness, networking and lead generation

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KEY OBJECTIVE Develop Portfolio Sales Approach Accelerate Subscriptions Growth Launch V5 Technology Platform Drive High Growth in New Business Lines	Average Revenue Per Client (ARPC) Annual Contract Value (ACV) Lifetime Value (LTV) Hot + Warm (audience) leads MEASUREMENT Events Revenue Research / Intelligence Revenue Lead Generation Revenue	+$2.1k / +20% +$0.7m / +10% +$3.0m / +7% +38k / +332% +$1.3m / +108% +$0.3m / +166% +$0.05m RESULT

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FY19 – solid growth and margin expansion

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||||||
|---|---|---|---|---|
|50%|100%|
|Operating Revenue|Up 17%|to|$16.4|m|
|+2.4m|From|
|$14.0|m|
|Gross Margin|up 2%|To|55%|
|+100bps|From|54%|
|EBITDA|up 161%|to|$0.5|m|
|+0.3|m|From|
|Normalised|$0.2|m|
|EBITDA down 57%|to|($1.1)|m|
|-0.4|m|From|
|($0.7|m)|
|Reported|
|Operational Cashflow|up 62%|to|$0.9|m|
|+0.3|m|From|
|Normalised|$0.6|m|
|EPS|down 620%|to|(0.36|c)|
|-0.31|c|From|(0.05|c)|

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High growth in revenue for second year running



 Gross margin improvement allowing investment in new business lines and services

Operating leverage improvement through scalability and fixed cost base



• Improved normalised EBITDA and operational cashflow

NPAT/EPS largely impacted by Beacon Events loan write-off, one-off legal and restructuring costs on discontinued business

Note to accounts:

• All results are on a continuing operations basis and like for like for the 12 month period

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• Gross margin is internally measured after all selling, distribution and operating costs excluding Group and Corporate costs - Normalised EBITDA & Cashflow excludes one-off transformation, discontinuation, exceptional legal costs and establishment costs of new business lines

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Growing and increasingly cash generative

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Revenues ($’m) OPEX ($’m)
17 20
16 16.5 16.4 19.5
15
14
14 15 15.9
13
13.8
12 12.5 13.4
12.8
11 11.5
10
10
FY 15 FY 16 FY 17 FY 18 FY 19
FY 15 FY 16 FY 17 FY 18 FY 19
3 years growth returning revenue to FY15 levels Centralization, outsourcing and offshoring building efficiency
Operating Cash Flow ($’m) EBITDA ($’m)
FY 15 FY 16 FY 17 FY 18 FY 19
FY 15 FY 16 FY 17 FY 18 FY 19
1
0.5
2
0.1 0.2
0.9
1 0.6 -
0.2
0
(1)
-1 -0.3
-1.1
(2)
-2
-3 -2.2 (3)
-3.0
Operational cashflow, earnings and margins growing
Note to accounts:
Revenues are on a continuing operations basis
All earnings and operating cashflow figures are normalized and as per audited statutory accounts
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	14 quarters of consistent subscriptions momentum	14 quarters of consistent subscriptions momentum	14 quarters of consistent subscriptions momentum	14 quarters of consistent subscriptions momentum	14 quarters of consistent subscriptions momentum
	Key SaaS Metrics	As at June’16	As at Dec’19	CAGR	Rapid growth of all
					metrics driving high
	Number of Subscriptions	7,158	8,048	3%	performance
	Average Revenue Per Unit (ARPU)	$623	$1,003	15%	ACV & LTV
	Annual Contract Value (ACV)	$4.5m	$7.8m	17%
	Web Traffic (Sessions)	3.8m	5.5m	11%
	Web Traffic (Users)	1.1m	2.8m	31%
	Loyalty Index	41%	58%	10%
	Renewal Rate	73%	85%	4%
	Lifetime Years	3.7	6.5	17%
	Lifetime Value	$16.5m	$50.7m	38%

Aspermont market capitalization is less than half the current LTV of subscriptions alone

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-Refer to glossary in appendix for full definitions of all SaaS metrics

-Aspermont does not present number of Paid Member per subscription for competitive reason but whilst orders are showing a slight decline the number of Paid Members continue to be in solid growth owing to successful ABM strategies (discussed further on next slide in this presentation)

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Market leading competitive strengths

Aspermont’s products are established market leaders. The company pioneered digital paywall models since the birth of the internet era. The company has developed sophisticated system to drive exceptional audience growth and built an increasing set of monetization tools for its clients. The company is focused on remaining ahead of the trends and needs of its markets.

Brand Strength

Our 560 years heritage supports successful product, channel and brand extensions Innovation Leaders

First adopters in digital paywall; disruptors in semantic search; pioneers in marketing automation and new client services solutions

Market Leadership Leading content provider to global resources sector with direct access to CXOs within the industry and its supply chain Technology Platform Next generation platform gives omnichannel advantages and deep behavioral data analysis capabilities

Leadership Team

Tier 1 executive and management team with strong skills sets and experience in media-tech industry

Scalability

Centralized, digitized, outsourced and offshoring operational structures provide low marginal cost base for growth

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Blue chip client base of industry leaders with large spend capacity	Blue chip client base of industry leaders with large spend capacity	Blue chip client base of industry leaders with large spend capacity	Blue chip client base of industry leaders with large spend capacity	Blue chip client base of industry leaders with large spend capacity	Blue chip client base of industry leaders with large spend capacity	Blue chip client base of industry leaders with large spend capacity	Blue chip client base of industry leaders with large spend capacity	9
COMPANIES SUPPLY CHAIN			FINANCIAL SERVICE			SERVICES	TECHNOLOGY
MINING MACHINERY			BANKING			ACCOUNTING
ENERGY ENGINEERING			INVESTMENT SERVICES			LEGAL
STEEL EQUIPMENT			INSURANCE			MANAGEMENT CONSULTANT
Note:
Aspermont is continually developing and delivering new		products and monetisation tools to its clients. Average Revenue Per Client (ARPC) grew by a decent 20% in FY19 but has a far greater
distance to go. Owing to our new end-to-end marketing services suite the company is starting to win much larger scale contracts than before. As the momentum builds overtime there should be
a significant growth breakthrough in these revenue streams.

Aspermont’s three growth horizons

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VALUE
			Horizon 3: Future Business
		Horizon 2:High Growth	Business
	Horizon 1:Core Business
			TIME
Focus	Core Business	High Growth Business	Future Business
	Defend and extend current	Scale up	Invest and incubate
Output	Immediate gain in revenues/profits Today’s cashflow	Nurturing emerging business Foundation for 2-5yr growth	New business creation Foundation for 5+ years growth
		Tomorrow’s cashflow	Loss leader / investment $’s
Divisions	Display advertising	Events	Data services
	Subscriptions	Content Marketing	Lead generation
	Classifieds	Research	Content agency
		North American market	Multi-lingual services
			Asia / Africa / LATAM markets
People &	Business maintainers	Business builders	Champions and visionaries
Skills

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New Business Streams Coming Online

Two New Business Line Launches in FY20 Responding to client marketing needs and developing bespoke solutions Content Agency Utilising award winning inhouse journalists and designers to create content and marketing assets for clients to use across Aspermont’s and other networks

Lead Generation Services Utilising content marketing campaigns to drive fully qualified, GDPR compliant, marketing leads to clients

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• Scalable growth achieved through expansion of content and sales resources

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1

2

3

Scale content services to new geographies

• Leverage multi-lingual platform capabilities Build content services in new sectors

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Our FY20 execution priorities and how investors can measure us

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Operational Capacity Release

Research and Events to fully transition into core business teams

Measures:

• Improved standards, processes, systems

• Establish new brands

• Focus on yields

Build High Performance Culture

Implementation of new People strategy with focused skills acquisition and development Measures:

• Revenue per employee

• New hire probation rate success

• Regretted leaver churn

Next Phase Of Subs Growth

Roll out of higher quality content to drive pricing and deeper account penetration (ABM) Measures:  ARPU

• Members per subscription

 ACV

• LTV

Develop Solution Sales Culture

Leverage now complete multi-media offering build end to end client marketing solutions

Measures:

 Lead generation revenue  ARPC

• Total client revenue

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Note: ABM: Account-Based-Marketing is the process by which we seek to develop multiple members per paid subscription

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The outlook for next year remains one of high growth

• We have a proven operating model

• With a consistent track record of:

• Top line growth

• • Improving bottom line

• • Expanding margins

• Our unit economies are good

• • The cost base is relatively stable and our key people foundations are in place

• Consequently our outlook is for:

• Continued top line performance

• • Improving bottom line

• • Continued margin expansion

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For further information

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Address

Aspermont 613-619 Wellington Street Perth Western Australia, 6000 Contact Info Email: corporate@aspermont.com Telephone Office Phone: +61 8 6263 9100

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Glossary (SaaS Metrics)
Number of Subscriptions
Number of live subscriptions at end of period	8,048
Average Revenue Per Unit (ARPU)
Annual Contract Value / Number of Subscriptions	$1,003
Annual Contract Value (ACV)
Aggregate contract cash value of all live subscriptions at the end of a period	$7.8m
Sessions
Total number of web sessions over a trailing twelve month basis	5.5m
Users
Total number of users who initiated at least one web session over a trailing twelve month basis	2.8m
Loyalty Index
Internal metric analysis of subscriber loyalty through their engagement	58%
Renewal Rate
Volume of subscriptions renewed over trailing twelve month basis (i.e. the inverse of Churn Rate)	85%
Lifetime Years (LY)
Average lifetime of a subscription = 1/Churn Rate	6.5 years
Lifetime Value (LTV)
Aggregate of present and future value of all subscriptions = (Lifetime Year x Annual Contract Value)	$50.7m

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Glossary (Others)

Audience Revenues Subscriptions + event delegate revenues

(i.e. All revenues – Client Services Revenues)

Client Services Revenues Display advertising + content marketing + lead generation + content agency + event sponsorship revenues (I.e. All revenues – Audience Revenues)

ABM (Account Based Marketing) ABM is a sales and marketing strategy that focused on developing the spend and penetration in targeted accounts Solution Selling Solution selling is an approach where we bespoke sell our product and services to clients in a best fit manner to suit their actual needs. This contrast transactional selling where clients simply buy the products or services from us and tailor them to their own needs ARPC Average revenue per client is measured as: Total Client Services Revenues / Number of Clients

Paid Members per Subscription each subscription has multiple paid members attached to it and as ABM strategies develop the number of Paid Members per subscription increases; which also drives pricing (ARPU)

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Capital Structure	Capital Structure	Capital Structure
Shares on issue	2.1b	@1 cent
Options on issue	324m	@3 cent
	10m	@1 cent
Unlisted Performance Rights	92.4m
Market Capitalisation	21.2m
Substantial Shareholdings	15.3%	Drysdale Investments Limited
	13.1%	Allandale Holdings Pty Ltd
	12.3%	Mega Hills Limited
	7.6%	Annis Trading Limited
	5.1%	Ginga Pty Ltd

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Disclaimer

Important notice disclaimer

Forward-looking standard elements

This presentation may include forward-looking statements. Such statements can generally be identified by the use of words such as 'may', 'will', 'expect', 'intend', 'plan', 'estimate', 'anticipate', 'believe', 'continue', 'objectives', 'outlook', 'guidance‘, ‘forecast’ and similar expressions. Indications of plans, strategies, management objectives, sales and financial performance are also forward-looking statements.

Such statements are not guarantees of future performance, and involve known and unknown risks, uncertainties, assumptions, contingencies and other factors, many of which are outside the control of Aspermont Limited or . ( Aspermont Company ) No representation is made or will be made that any forward-looking statements will be achieved or will prove to be correct. Actual results, performance, operations or achievements may vary materially from any forward-looking statements. Circumstances may change and the contents of this presentation may become outdated as a result. Readers are cautioned not to place undue reliance on forward-looking statements and Aspermont assumes no obligation to update such statements.

No representation or warranty, expressed or implied, is made as to the accuracy, reliability, adequacy or completeness of the information contained in this presentation.

presentation.

Preparation of information

All financial information has been prepared and reviewed in accordance with Australian Accounting Standards. Certain financial data included in this presentation is ‘non-IFRS financial information’. The Company believes that this non-IFRS financial information provides useful insight in measuring the financial performance and condition of Aspermont. Readers are cautioned not to place undue reliance on any non-IFRS financial information including ratios included in this presentation.

Presentation of information

Currency All amounts in this presentation are in Australian dollars unless otherwise stated.

FY refers to the full year to 30 September.

Rounding Amounts in this document have been rounded to the nearest $0.1m. Any differences between this document and the accompanying financial statements are due to rounding.

Third party information and market data

Past performance

Past performance information given in this presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance.

The views expressed in this presentation contain information that has been 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. This presentation should not be relied upon as a recommendation or forecast by Aspermont. Market share information is based on management estimates except where explicitly identified.

Information is not advice or offer of securities

No liability or responsibility

This presentation is not, and is not intended to constitute, financial advice, or an offer or an invitation, solicitation or recommendation to acquire or sell Aspermont shares or any other financial products in any jurisdiction and is not a prospectus, product disclosure statement, disclosure document or other offering document under Australian law or any other law. This presentation also does not form the basis of any contract or commitment to sell or apply for securities in Aspermont or any of its subsidiaries. It is for information purposes only.

Aspermont does not warrant or represent that the information in this presentation is free from errors, omissions or misrepresentations or is suitable for your intended use. The information contained in this presentation has been prepared without taking account of any person’s investment objectives, financial situation or particular needs and nothing contained in this presentation constitutes investment, legal, tax or other advice. The information provided in this presentation may not be suitable for your specific needs and should not be relied up on by you in substitution of you obtaining independent advice. Subject to any terms implied by law and which cannot be excluded, Aspermont accepts no responsibility for any loss, damage, cost or expense (whether direct, or indirect, consequential, exceptional or special damages including but not limited to loss of revenue, profits, time, goodwill, data, anticipated savings, opportunity, business reputation, future reputation, production or profit, any delay costs, economic loss or damage) incurred by you as a result of any error, omission or misrepresentation in this

The information in this presentation is general in nature and is provided in summary form and is therefore does not purport to be complete.

To the maximum extent permitted by law, Aspermont and each of its affiliates, directors, employees, officers, partners, agents and advisers and any other person involved in the preparation of this presentation disclaim all liability and responsibility (including without limitation, any liability arising from fault or negligence) for any direct or indirect loss or damage which may arise or be suffered through use or reliance on anything contained in, or omitted from, this presentation. Aspermont accepts no responsibility or obligation to inform you of any matter arising or coming to their notice, after the date of this presentation, which may affect any matter referred to in this presentation.

This presentation should be read in conjunction with Aspermont’s other periodic and continuous disclosure announcements lodged with ASX.

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n Appe dix

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Experienced leadership team able to execute

Ajit Patel Chief Operating Officer

Ajit has more than 30 years of experience in technology; working across digital media, events and research. Previously Ajit was the CTO for Incisive Media, where he was responsible for infrastructure, software development, online strategy and large scale systems implementation. Ajit came to Aspermont to help deliver the technological base to enable the company to deliver on its long-term solution. He is now responsible for all services departments including marketing.

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Alex Kent

Group Managing Director

Alex joined Aspermont in 2007 having spent the early part of his career at Microsoft. Starting with the creation of a semantic search division for the company he has since worked in all areas of the Aspermont Group. His prime skills sets of technology and marketing saw him hold the role of Group CMO prior to becoming Managing Director. Alex has BSc degrees in Economics, Accounting and Business Law. He has been a key driver of the overall vision for the company and its deep-seated technological focus.

Leah Thorne

Group People Director

Leah joined Aspermont in 2018 with over 18 years experience in HR. Prior to joining, Leah had led a number of HR functions within technology start up environments and supported their transition to become more established, efficient businesses. She also headed up European Talent Development at Activision Blizzard where she had a strong focus on leadership development and the digital transition. Leah's role at Aspermont will see her developing and executing our People Strategy, to support both the overall business strategy and high growth phase the company is in.

Matt Smith

Nishil Khimasia

Chief Commercial Officer

Chief Financial Officer

Matt has over 20 years of Nishil has significant and relevant experience in global media sales. experience in financial His previous role was President at management, business International Data Group (IDG), the development and transformation in world largest technology media entrepreneurial growing companies organisation, where he directly in the global B2B sector. Over the managed and led the global past 8 years Nishil held CFO and demand generation business and General Management positions at data strategy. His role at Equifax UK & Ireland, part of Aspermont is newly created and Equifax Inc., one of the world’s gives him full remit over all the largest information solutions company's commercial activities. providers, with responsibility for Specifically Matt will be focused on developing UK & Ireland business. building a truly solution-sales based culture and framework within Aspermont to enable the company to maximise on its wealth of client sponsorship opportunities

Board of Directors

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Andrew Kent

Chairman and Executive Director

Andrew Kent, Chairman and Executive Director, is an experienced Business Manager and Corporate Advisor with over 40 years experience in international equities and media. Mr. Kent was the CEO of Aspermont from 2000 to 2005 and holds considerable knowledge of its products and the market landscape. He is a member of the Australian Institute of Company Directors.

Geoff Donohue

Lead Independent Director

Mr. Geoff Donohue has over 29 years experience at both board and senior management level within public companies and the securities industry. Mr. Donohue holds a Bachelor of Commerce from James Cook University of North Queensland, Graduate Diploma in Financial Analysis from the Securities Institute of Australia and is a Certified Practicing Accountant.

Alex Kent Group Managing Director Alex joined Aspermont in 2007 having spent the early part of his career at Microsoft. Starting with the creation of a semantic search division for the company he has since worked in all areas of the Aspermont Group. His prime skills sets of technology and marketing saw him hold the role of Group CMO prior to becoming Managing Director. Alex has BSc degrees in Economics, Accounting and Business Law. He has been a key driver of the overall vision for the company and its deep-seated technological focus.

Christian West

Non-executive Director

Christian West has over 16 years’ experience in advising public companies on portfolio structure and in deal origination, development and financing for private companies. Christian has a successful track record investing in global equities, through public market, venture capital and private equity investment channels across media, technology and natural resource sectors. He is currently a Director of RDP Limited, a venture capital group specialist in the natural resources sector

Clayton Witter Non-executive Director

Clayton Witter has over 20 years’ experience in advising large and medium size organisations on implementation of new technologies to transform business processes across a number of sectors including FMCG (consumer goods), Manufacturing, Banking, Information Technology and Electrical household appliances. He was previously Managing Director at Beko Plc, the UK home appliance manufacturer where under his management, Beko became market leader across multiple product categories.

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