ASPERMONT LIMITED. — Investor Presentation 2020

Aug 2, 2020

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Investor Update

August 2020

ASX:ASP

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www.aspermont.com

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Comment on Q3

“At the half year we stated our next set of responses to COVID and our main focus for Q3. We committed to innovation as the most effective way to adapt our business model and deal effectively with the sudden and severe impacts (from COVID) on our live Event business. We stated an intention to complete a small capital raise with existing shareholders, while executing other measures to bolster our short term cash position. We decided to focus on profitability while building our defensive strengths for the remainder of COVID whilst remaining well poised to accelerate as economies recover. At the end of Q3 I can report that as a business we have done exactly what we set out to and because of some great product innovation and difficult decisions taken we look forward to reporting a positive year-end set of results despite the extreme conditions.”

(Alex Kent – Managing Director)

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We are the leading media services provider to the global resource industries

Aspermont is the leading media services provider to the global resource industries through a range of iconic titles Aspermont has invested 20 years in building a commercial model for B2B media 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 the UK, Australia, Brazil, North America and the Philippines

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Aspermont has the industry leading business model

Aspermont brands have established a high reputation over near 200 years on the principles of providing high value content to premium rate subscriber audiences. Aspermont has been a digital pioneer, developing one of the first media paywalls in 2002 and introducing semantic search architecture in 2008. Technological innovation drives all parts of its model today Over the last 20 the has built which has deterred new market entrants and the exit of years company significant competitive advantages prompted regional competitors. The business is developing at a faster pace today with annual audience growth at 30% compound

Brand Leverage

560 years of brand heritage accrues unparalleled audience trust. Trust that enables market collaboration to ensure high success rate in new product launches

Operational Agility

Centralized structure with scalable human resource model enables high go-to-market speeds with controlled investment risk

Leadership Team

Tier 1 executive team with extensive C-suite experience at blue-chip firms. Common strength in marketing, technology and problem solving. Tied in with equity based LTIPs

Intellectual Property

Decades of technological experimentation have produced unique IP in processes, marketing systems and commercial models

Industry Leadership

Aspermont engages 7.5million board and senior management executives across key industries. Sentiment and insight analysis enables agenda setting and leadership on macro themes

Scalable Model

SaaS based model with high unit economics and increasing operating leverage. Can be rolled efficiently across other sectors and geographical markets

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• Aspermont is a robust, agile and innovative business that adapts with speed

Q3 Key Highlights:

• 2% decline in total revenue despite Live Events revenue zeroing; due to social distancing restrictions

• • 100%+ yoy growth in Earnings

• • 600% yoy growth in Cash Flow from operations

• • $1m, fully underwritten, right issue closed heavily oversubscribed

• • $1.9m improvement in cash position (currently $2.2m net cash; no debt)

• • Subscriptions renewal rates and ARPU continue to rise in tandem, despite market conditions

• • Digital audiences, on a TTM, basis spiked 10% whilst LTV passed $50m

• • Net Retention Rate moved beyond 100% with growth in unit economies rising to 22:1

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*Due to COVID impact on business the company also received a one off $250k in government grants. These benefits have been stripped out to show normalised figures. -All EBITDA and Cashflow figures are presented on a normalised based as per unaudited management accounts

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16 quarters of growth delivered from solid foundations

Key SaaS Metrics	As at June’16	As at Mar’20	As at Jun’20	Q on Q **Growth **	CAGR
Number of Subscriptions*	7,158	7,650	7,825	2%	2%
Average Revenue Per Unit (ARPU)	$623	$1,041	$1,046	1%	14%
Annual Contract Value (ACV)	$4.5m	$8.0m	$8.2m	3%	16%
Web Traffic (Sessions)	3.8m	5.7m	6.1m	7%	13%
Web Traffic (Users)	1.1m	3.1m	3.4m	10%	33%
Loyalty Index	41%	58%	59%	2%	10%
Renewal Rate	73%	83%	84%	1%	4%
Lifetime Years	3.7	6.0	6.2	3%	14%
Lifetime Value	$16.5m	$48.0m	50.6m	5%	32%

Rapid growth of all metrics driving high performance ACV & LTV

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Large June quarter spike in Digital Users and Sessions Renewal rates and ARPU rising together despite market conditions LTV growth of 32% CAGR over last 4 years

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

*Aspermont does not present the number of Paid Member per subscription for competitive reason but whilst ‘number of subscription’ orders are showing low growth, the actual number of Paid Members is in strong double-digit growth owing to our successful ABM strategies

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• Last quarter shows growth in profitability despite COVID revenue impacts

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Revenue ($’m)
5.0
4.0
3.0
2.0
1.0
0.0
Q3 16 Q3 17 Q3 18 Q3 19 Q3 20
Media revenue Subs revenue Events revenue
Subs, Media flat growth with Events revenue wiped out
Operating Cashflow ($’m)
0.4
0.3
0.2
0.1
0.0
-0.1 Q3 16 Q3 17 Q3 18 Q3 19 Q3 20
-0.2
-0.3
-0.4
-0.5
-0.6
Cashflow strengthened
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OPEX ($’m)
5.0
4.0
3.0
2.0
1.0
0.0
Q3 16 Q3 17 Q3 18 Q3 19 Q3 20
Costs reductions will deliver larger savings in future periods
EBITDA ($’m)
0.4
0.3
0.2
0.1
0.0
Q3 16 Q3 17 Q3 18 Q3 19 Q3 20
-0.1
-0.2
-0.3
Profitability impacted by loss of live Events contribution and
lower OPEX investment profile
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*Due to COVID impact on business the company also received a one off $250k in government grants. These benefits have been stripped out to show normalised figures. -All EBITDA and Cashflow figures are presented on a normalised based as per unaudited management accounts

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YTD profitability strengthening with rising cash flow

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Revenue ($’m)
14.0
12.0
10.0
8.0
6.0
4.0
2.0
0.0
YTD 16 YTD 17 YTD 18 YTD 19 YTD 20
Operating Cashflow ($’m)
1.0
0.5
0.0
YTD 16 YTD 17 YTD 18 YTD 19 YTD 20
-0.5
-1.0
-1.5
-2.0
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OPEX ($’m)

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14.0
12.0
10.0
8.0
6.0
4.0
2.0
0.0
YTD 16 YTD 17 YTD 18 YTD 19 YTD 20
EBITDA ($’m)
0.3
0.2
0.1
0.0
YTD 16 YTD 17 YTD 18 YTD 19 YTD 20
-0.1
-0.2
-0.3
-0.4
-0.5
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*Due to COVID impact on business the company also received a one off $284k in government grants. These benefits have been stripped out to show normalised figures. -All EBITDA and Cashflow figures are presented on a normalised based as per unaudited management accounts

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COVID has not affected the core business
AUDIENCE STATS KEY FINANCIALS CORE SUBSCRIPTION METRICS
40k High Top line Growth $8.2m
Paid members Strong Double Digit CAGR Annual Contract Value (ACV)
250k Cash Generative 16%
Social Media Audience $2.1m Net Cash; No Debt ACV & ARR CAGR
280k 22:1
Monthly Active Users Unit Economies
3.4m 58% $51m
Digital Users Gross Margins with Scaling Lifetime Value
7.5m 75% 100%
Board/Snr Mgmt Contacts Recurring Revenue Net Retention Rate
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Aspermont’s value proposition

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Core businesses are robust and scalable

Subscriptions revenues and SaaS metrics have grown consistently for 15 quarters - expected to continue

Media revenues have reversed a decade long industry-wide decline, in net advertising to return with growth now accelerating

Events remain a highly scalable opportunity that ASP will benefit from when market conditions return to normal

New Content Works and Lead Generation engines have launched and are ramping up

Technology and organizationally enabled

V5 technology platform allows agile product design with go-to-market launches in weeks, not months

Streamlined operations improve efficiency

Outsourced functions provide resource scalability

Group C suite structure, with functional reporting lines, allows decision making speed

New digital events and exhibitions are set for commercial release

Resilient and innovative

Business has recently emerged from a full operational, technological and financial turnaround

Recruitment of high calibre management enhances innovation and IP Greater skill sets drive productivity

Improving economics with scalable model

High unit economies with consistent growth in ARR, NRR and LTV Several years of consistent growth with expanding margins Profitable with cash flow

No debt with new products developed from retained earnings

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Outlook for FY20

• Growth expected in all revenue streams except for live events

• Positive improvement in earnings, cash flow and margins expected

• 16 quarters of growth in all SaaS metrics expected to continue

• • No live Events expected for remainder of FY20

• • Virtual Event/Exhibition products to launch in Q4

• • Plans to enhance Asian market penetration with new government partnerships

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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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Capital Structure

Shares on issue	2.3b
Options on issue	324m	@3 cent
	10m	@1 cent
Unlisted Performance Rights	92.4m
Market Capitalisation	18.2m
Substantial Shareholdings	15.3%	Drysdale Investments Limited
	13.1%	Allandale Holdings Pty Ltd
	11.7%	Mega Hills Limited
	7.6%	Annis Trading Limited
	5.35%	Ginga Pty Ltd

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Glossary (SaaS Metrics)

Number of Subscriptions
Number of live subscriptions at end of period	7,825
Average Revenue Per Unit (ARPU)
Annual Contract Value / Number of Subscriptions	$1,046
Annual Contract Value (ACV)
Aggregate contract cash value of all live subscriptions at the end of a period	$8.2m
Sessions
Total number of web sessions over a trailing twelve month basis	6.1m
Users
Total number of users who initiated at least one web session over a trailing twelve month basis	3.4m
Loyalty Index
Internal metric analysis of subscriber loyalty through their engagement	59%
Renewal Rate
Volume of subscriptions renewed over trailing twelve month basis (i.e. the inverse of Churn Rate)	84%
Lifetime Years (LY)
Average lifetime of a subscription = 1/Churn Rate	6.2 years
Lifetime Value (LTV)
Aggregate of present and future value of all subscriptions = (Lifetime Year x Annual Contract Value)	$50.6m

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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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