DE.MEM LIMITED — Investor Presentation 2017

Sep 13, 2017

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De.mem Limited (ASX:DEM) Akwa-Worx Acquisition

Investor Presentation September 2017

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Transaction Overview

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T R A N S A C T I O N O V E R V I E W

Acquisition of Akwa-Worx

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De.mem has acquired the operations of AkwaWorx for A$1.5m in cash and A$460k in shares

Australian based Akwa-Worx is a leading provider of water and waste-water treatment systems

Revenue approximately $7 million (AUD) in the 12 months to 30 June 2017

Recurring annualised revenue $2.2+ million (AUD) Based on stable, long term service agreements

Normalised EBITDA approximately $800,000 (AUD) in the 12 months to 30 June 2017

Long-term customer relationships with leading corporations from the Australian mining sector

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Product lines include Ultra-Filtration (UF) – Reverse Osmosis (RO) based systems, Membrane Bioreactors (MBRs), bioreactors and chemical dosing systems

Systems are delivered as packaged or modular solutions for de-centralised applications

Through Akwa Facility Maintenance, a 100% owned subsidiary of Akwa-Worx, the company provides operations & maintenance services to leading companies from the mining sector based on long-term agreements

The acquisition will strengthen De.mem’s position in the Asia Pacific region and provide significant opportunities for growth

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De.mem Limited (ASX:DEM) Investor Presentation September 2017

T R A N S A C T I O N O V E R V I E W

Deal structure

Purchase price: A$1.96 million

(A$1.5 million in cash / A$460k in shares)

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A$250k Subject to revenue target for H2 2017 (125k cash / 125k shares)

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A$250k Subject to revenue target for CY 2018 (125k cash / 125k shares)

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A$250k

Subject to revenue target for the 18 months ended 31 Dec 2018 (125k cash / 125k shares)

Total consideration, if all milestones are met:

A$2.71 million

A$1.875 million in cash and A$835,000 in shares

As part of the transaction, Mr. Shane Ayre will remain as the Managing Director of Akwa-Worx and become a member of the De.mem group’s management team

Subject to satisfaction of the Conditions Precedent, completion is expected in September 2017

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De.mem Limited (ASX:DEM) Investor Presentation September 2017

T R A N S A C T I O N O V E R V I E W

De.mem + Akwaworx = Accelerated Growth De.mem Akwa-Worx

• Highly innovative, proprietary membrane products

• Established and long term customer relationships, i.e. with leading players from the mining & resources sector

• Strong partnership with Nanyang Technological University (NTU) in Singapore in R&D

• Proven capabilities in system integration, operations

• Established presence in Asian markets, i.e. Singapore and Vietnam

• • & maintenance

• Long term operations & maintenance business allows for stable base revenues

• Reference projects with MNCs in industrial waste water treatment in different sectors

• Positive momentum and strong sales pipeline

• Packaged solutions allow for fast and simple implementation

• Publicly listed on the ASX and Venture Capital backed

• Integrated product offering

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Together

• Creating a market leading de-centralised water treatment company in Asia-Pacific

• Highly experienced management team

• Integrated product offering

• Strong platform for roll out of De.mem membrane technologies

• Accelerated growth prospects

• Economies of scale

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About Akwa-Worx

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A B O U T A K W A - W O R X

About Akwa-Worx

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Established 2002

Headquarters & manufacturing Caboolture QLD

Group Structure

Akwa-Worx (equipment) + Akwa-Worx Facility Management (Operations & Maintenance)

Key product lines Water treatment MBRs Bioreactors Chemical Dosing

Employees

25

13 Akwa-Worx 12 Akwa-Worx Facility Maintenance

R E V E N U E A$7m (FY ended 30 Jun 2017 - unaudited)

N O R M A L I S E D E B I T D A A$800k (FY ended 30 Jun 2017 - unaudited)

De.mem Limited (ASX:DEM) Investor Presentation September 2017

A B O U T A K W A - W O R X

Areas of expertise

✓	Water Treatment	✓	Chemical injection systems	✓	HAZCHEM containers
✓	Sewage Treatment	✓	Bore water treatment	✓	Water Treatment Chemicals
✓	Filtration	✓	Water softeners	✓	Automatic Valving
✓	Potable water	✓	Resin filtration	✓	Remote monitoring of Sewage plants
✓	Reverse osmosis	✓	Water Quality Consultancy	✓	Mine camp sewage systems
✓	Modular sewage systems	✓	Commercial Water pumps	✓	Mine camp potable systems
✓	Modular Potable systems	✓	Sewage pumps	✓	Accommodation camp water systems
✓	Membrane filtration	✓	Pump Stations

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De.mem Limited (ASX:DEM) Investor Presentation September 2017

A B O U T A K W A - W O R X

Sample Projects: Membrane-based water treatment plants

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Sewage Treatment Plant MBR

Location Heron Island, QLD

Description Submerged Membrane Bioreactor (MBR) Client Heron Island Resort Value $AUD 1 million Year 2015

Sewage Treatment Plant UF membranes

Location Papua New Guinea

Description Ultrafiltration membrane based process plus pre treatment via BNR Client Wafi Golpu Mine JV Value $AUD 1 million Year 2013

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De.mem Limited (ASX:DEM) Investor Presentation September 2017

A B O U T A K W A - W O R X

Sample projects: Long term Operations & Maintenance Contracts

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Media filtration
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Chloramination
Package
N S W
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Chemical
Dosing Skid
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Sewage Treatment
Plant
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De.mem Limited (ASX:DEM) Investor Presentation September 2017

A B O U T A K W A - W O R X

Project experience Akwa-Worx

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Civeo

Coppabella Sewage Treatment Plant Coppabella, QLD

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Monadelphous

East Nogoa Water Treatment Plant

Papua New Guinea

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Civeo

Coppabella Water Treatment Plant Coppabella, QLD

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Mount Isa City Council

Containerised Re-Chlorination Package

Mount Isa, QLD

Capacity: 270kl per day

Total value: Approx 1.5 million A$

• Membrane Bioreactor (MBR)

• Treats waste water from mining camp

• Operational in April 2015

Total value: Approx 0.4 million A$

• Fluoride saturator and powder polymer preparation and dosing plants

• Operational in July 2015

Capacity: Approx 1,500kl per day Total value: Approx 1.2 million A$

• Containerised water treatment system including dosing and potable water storage

• Supplies drinking water to mining camp

Total value: Approx 0.1 million A$

• Containerised re-chlorination package

• Operational in March 2015

• Operational in April 2015

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De.mem Limited (ASX:DEM) Investor Presentation September 2017

A B O U T A K W A - W O R X

Project experience (Cont.) Akwa-Worx

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Jacobs

Bulwer Island Sewage Treatment Plant

Bulwer Island, QLD

Total value: Approx 0.5 million A$

• Packaged sewage treatment plant to treat waste water for discharge into Brisbane river

• Operational in July 2016

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Ausco Modular

Containerised Water Treatment Plant

Cavel Ridge Mine Moranbah, QLD

Total value: Approx 0.3 million A$

• Using Ultrafiltration (UF) membranes, packaged in standard industrial 40 feet container, fully automated incl. remote monitoring package

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Mining Industry

Sewage and Water Treatment Plants

Papua New Guinea

Total value: Approx 2.0 million A$

• Capacity: 350 kl per day

• Using multiple bioreactors and Ultrafiltration (UF) membranes

• • Operational in 2012

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Carwash facility with 20 bays

Carwash

Greater Brisbane, QLD

Total value: Approx 0.1 million A$

• Integrated system including DAF and multimedia filters, treating car wash water to recycling standards

• Operational in 2014

• Operational in 2012

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De.mem Limited (ASX:DEM) Investor Presentation September 2017

Strategic Rationale

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S T R A T E G I C R A T I O N A L E

Business proposition & deal rationale

The new group aims for accelerated growth through a number of key growth initiatives:

The transaction creates a strong and integrated player focused on de-centralised water and waste water treatment in the Asia-Pacific region.

• Fast roll out of De.mem’s innovative technologies among Akwa-Worx’ customer base

• Competitive advantage for Akwa-Worx through access to such technologies

• Combined, expanded product range enables cross-selling

• Platform for expansion into new geographies including China

• Economies of scale / manufacturing synergies to improve margins

• Expected improvement in the mining and resources sector

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De.mem Limited (ASX:DEM) Investor Presentation September 2017

S T R A T E G I C R A T I O N A L E

Creating a leading player in de-centralised water treatment

Expanded & integrated product offering: Both De.mem and Akwa-Worx have a strong focus on de-centralised, packaged water treatment plants; each is focusing on somewhat different, yet highly synergistic segments of the value chain. The acquisition creates a “one stop supplier” for many types of solutions

“Win-win” business model:

Highly flexible business model including operations & maintenance services and BOO (Build, Own, Operate) contracts – attractive business options which customers are seeking and which help with a quick market penetration

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Strong team: Post-acquisition, De.mem group will have over 50 employees and be led by a management team and board with highly experienced industry professionals

Well positioned for growth: Combined, the group are well positioned for further growth and to become a leading player in the de-centralised water treatment market – for which high growth is forecast

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De.mem Limited (ASX:DEM) Investor Presentation September 2017

S T R A T E G I C R A T I O N A L E

Strong platform for roll-out of De.mem proprietary membrane technologies

Exclusive technology

Reduced operating costs

Commercial benefits

Expansion of technology portfolio

De.mem has the exclusive rights to highly innovative, proprietary and unique products

• Flagship product is the novel and unique low pressure hollow fiber nanofiltration membrane, which allows for a substantial reduction of operating cost and capital expenditure for many applications in water and waste water treatment

This unique technology is expected to provide substantial commercial benefits to the combined group:

• De.mem’s membranes can be used in Akwa-Worx’ projects, which provides a strong platform for the quick roll out of these innovations

De.mem plans to expand the proprietary product range in the near term future which will provide further benefits to the group

• Correspondingly, De.mem’s product innovations provide Akwa-Worx with a strong competitive advantage over its competitors – i.e. system integrators without any proprietary product offering

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De.mem Limited (ASX:DEM) Investor Presentation September 2017

S T R A T E G I C R A T I O N A L E

Accelerated growth prospects

De.mem expects a substantially faster revenue growth through:

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Opportunity for Cross-Selling

• The acquisition creates an integrated provider of different types of water treatment systems

• Water treatment systems often combine different process steps – the combined group can supply its whole product range to the same customer base and address a wide range of complimentary customer (opportunity for “cross selling”)

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Geographic expansion

• Opening of a WA local office is an immediate step for expansion: targeted customer base and similar product offering to Akwa-Worx’s established business in Queensland

• Expansion in the Asia/Pacific region: Malaysia, Papua New Guinea, Pacific Islands

• China expansion:

Strong basis to expand into China market by leveraging AkwaWorx’s industrial and mining track record

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De.mem Limited (ASX:DEM) Investor Presentation September 2017

S T R A T E G I C R A T I O N A L E

Economies of scale

Cost savings can be achieved through the following initiatives:

The acquisition creates substantial “economies of scale” between the two companies

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Alignment of key manufacturing processes such as process and system design, electronics, controls & monitoring (i.e. via De.mem’s proprietary “de.live” monitoring platform)

Combination of purchasing efforts to achieve better pricing from suppliers and in view of growing volumes

The potential for cost savings is expected to have a significant positive impact on margins.

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De.mem Limited (ASX:DEM) Investor Presentation September 2017

Group Strategy

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G R O U P S T R A T E G Y

Combined strategy

Integrated product offering

Proprietary technologies

Process expertise

Flexible end products for the customer

• Wide range of base components, i.e.

• Bioreactors

• Chemical dosing

• DAF

• Oil removal

• Low pressure, hollow fibre nanofiltration membrane

• De.live monitoring system

• New membrane technologies (planned)

• Engineering

• Operations & Maintenance

• Process design

• System integration

• Specialised products - Containerised

  • Modular

  • Compact

  • Customised, high quality, efficient

• Operations & Maintenance

• MBRs

• UF-RO

• Build-Own-Operate (BOO)

• Build-Own-Transfer (BOT)

De.mem’s business model includes proprietary technology, engineering and system integration as well as ongoing operations & maintenance

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De.mem Limited (ASX:DEM) Investor Presentation September 2017

G R O U P S T R A T E G Y

Highly scalable revenue model

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Build-Own-Operate or Build-Own-Transfer

Equipment sales

  - Customer driven

• De.mem owns the equipment

• Opportunity for

• equipment ongoing maintenance

• • Long term contract revenue with the customer

• Stable recurring revenue stream

• High margin

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Pricing

• Flexible pricing structure

• De.mem’s pricing model allows the company and its customers to share those savings – providing a genuine win-win outcome

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Customer base

• Long-term, repeat customers

• Multi-national corporations from high volume and high growth sectors

• Clients with manufacturing presence in many countries

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De.mem Limited (ASX:DEM) Investor Presentation September 2017

G R O U P S T R A T E G Y

De.mem technology

• De.mem commercialises a novel low pressure hollow fibre nanofiltration (NF) membrane developed at NTU in Singapore

• The membrane can reduce power consumption by up to 80%

• Significant reduction in operating cost and investment relative to traditional technologies

• De.mem plans to expand its portfolio of proprietary technologies in the coming months

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C L E A N W A T E R
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Nanofiltration
membrane fibres
As (low) pressure is
applied, water passes
through the pores in the
De.mem nanofiltration selective layer of the
membrane
membrane module with
membrane fiber bundle
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F E E D W A T E R
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De.mem Limited (ASX:DEM) Investor Presentation September 2017

G R O U P S T R A T E G Y

Extensive customer base

Historical and existing clients & partners

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• Target sectors Industrial • Food & agriculture

• • Oil & gas

• • Electronics

• • Mining

• Municipal & residential Other

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De.mem Limited (ASX:DEM) Investor Presentation September 2017

G R O U P S T R A T E G Y

Expanding into growth markets (China & Germany)

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Germany

• A$13 billion market[1]

• Started marketing De.mem products in Germany in Q2

Singapore

• A$ 2 billion market[2]

• Established presence through De.mem in Singapore

• Focus on industrial waste water

• Strong reference for the region

Malaysia & Indonesia

• Short term expansion plans based on expanded product range

China

• A$20 billion market[1]

• Strong potential for the combined group to expand into China

Vietnam

• A$1 billion market[3]

• Established presence and manufacturing capability through De.mem

• Short term expansion plans based on expanded product range

PNG & Pacific Islands

• Reference projects completed by Akwa-Worx

• Potential to gain significant market share

Australia

• $5 billion market[4]

• Strong and well established presence in Queensland through Akwa-Worx

• Short-term expansion plans into other regions – in particular Western Australia

Sources: 1. Global Water Intelligence 2. The Singapore EDB 3. Frost & Sullivan 4. IBIS

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De.mem Limited (ASX:DEM) Investor Presentation September 2017

Corporate Overview

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C O R P O R A T E O V E R V I E W

De.mem Limited

(ASX:DEM)

ASX code	DEM
Ordinary shares	95.8m
Market capitalisation	$30m
Cash on hand (30.6.17)	$3.8m
Listed on ASX	7 April 2017
Issue price	$0.20
Last price (12.09.17)	$0.31
52 week high	$0.50
52 week low	$0.31
Average daily volume	198,000
GICS classification	Utilities

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24%
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68%
8%
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NA Singapore Fund/ New Asia Inv/Vendor/Other Pre-IPO IPO
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De.mem Limited (ASX:DEM) Investor Presentation September 2017

C O R P O R A T E O V E R V I E W

Milestones since ASX IPO

Listed on ASX

Initiated waste New water treatment manufacturing Awarded contract under existing facility in from new client BOO contract with Singapore Novaland Group in Givaudan (May operational Vietnam 2017)

De.mem enters into a $500,000 contract to sell a water treatment plant in Vietnam

April May June July August 17’ 17’ 17’ 17’ 17’ Production Pilot of first production industrial facility for the standard NF membrane membrane module commenced

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De.mem Limited (ASX:DEM) Investor Presentation September 2017

C O R P O R A T E O V E R V I E W

Significant leverage play

		Market
		Capitalisation
Company	FY17 Revenue	(13.9.17)	Technology	Market Focus
	A$0.4 m
Fluence (formerly Emefcy) ASX: FLC	6 months to 30/06/17	A$252m	Aeration	Municipal waste water
	(Emefcy only)
CleanTeQ ASX:CLQ	A$28.9 m 12 months to 30/6/17	A$662m	Ion exchange	Industrial waste water (mining)
Phoslock Water Solutions ASX: PHK	A$3.8 m 12 months to 30/06/17	A$85m	Chemicals that bind dissolved phosphate	Prevention of algae growth
De.mem ASX:DEM	A$0.1 m 6 months to 30/06/17	A$30m	Membranes	Industrial (across many sectors) & Municipal/ Residential Water and Waste Water

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De.mem Limited (ASX:DEM) Investor Presentation September 2017

C O R P O R A T E O V E R V I E W

Board with strong industrial background

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Cosimo Trimigliozzi Chairman

• COO of Wild Flavors International

• Managing Director Givaudan Asia

• MBA, University of Basel, Switzerland

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Andreas Kroell CEO and Director

Bernd Dautel

Non-Executive Director

• Director New Asia • Director New Asia Investments Investments

• Deutsche Bank • Managing Director Corporate Finance Wieland Metals Asia Pacific

• Deloitte Corporate Finance

• Master of Chemical Engineering, Karlsruhe University of Technology, Germany

• MBA, University of Frankfurt, Germany

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Stuart Carmichael

Michael Edwards Non-Executive Director

Non-Executive Director

• Partner & Director • CEO Latitude Ventnor Capital Consolidated (ASX:LCD)

• Executive Vice • Non-Executive Director President UGL Norwood Systems Limited (ASX:UGL) Limited (ASX:NOR) KPMG Corporate & Dawine Limited Finance (ASX:DW8)

• Bcom, CA

• BBus (Economics / Finance), BSc (Geology), Grad Dip (Oen)

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De.mem Limited (ASX:DEM) Investor Presentation September 2017

C O R P O R A T E O V E R V I E W

Experienced management team

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Shane Ayre General Manager , Akwa-Worx

Kian Lip Teo Chief Operating Officer

• Lien Aid (a Singapore

• • Founder of NGO focused on Akwa-Worx water)

• 20 years industry experience

• Bachelor/Master, Nanyang Technological University, Singapore, and National University of Singapore

David Chua

Nicanor Suarin Chief Engineer

Director, Membrane Manufacturing

• Hyflux

• Mann+Hummel

• Doosan Hydro

• Hyflux

• 30+ years experience in process and system design

• 10+ years experience in membrane production

• Bachelor/Master, • Bachelor of Nanyang Technological Engineering, MBA, University, Singapore Philippines

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De.mem Limited (ASX:DEM) Investor Presentation September 2017

Legal Disclaimer

This presentation has been prepared by De.mem Limited and its related entities (the “Company”). It does not purport to contain all the information that a prospective investor may require in connection with any potential investment in the Company. You should not treat the contents of this presentation, or any information provided in connection with it, as financial advice, financial product advice or advice relating to legal, taxation or investment matters.

No representation or warranty (whether express or implied) is made by the Company or any of its officers, advisers, agents or employees as to the accuracy, completeness or reasonableness of the information, statements, opinions or matters (express or implied) arising out of, contained in or derived from this presentation or provided in connection with it, or any omission from this presentation, nor as to the attainability of any estimates, forecasts or projections set out in this presentation. This presentation is provided expressly on the basis that you will carry out your own independent inquiries into the matters contained in the presentation and make your own independent decisions about the affairs, financial position or prospects of the Company. The Company reserves the right to update, amend or supplement the information at any time in its absolute discretion (without incurring any obligation to do so). Neither the Company, nor its related bodies corporate, officers, their advisers, agents and employees accept any responsibility or liability to you or to any other person or entity arising out of this presentation including pursuant to the general law (whether for negligence, under statute or otherwise), or under the Australian Securities and Investments Commission Act 2001, Corporations Act 2001, Competition and Consumer Act 2010 or any corresponding provision of any Australian state or territory legislation (or the law of any similar legislation in any other jurisdiction), or similar provision under any applicable law. Any such responsibility or liability is, to the maximum extent permitted by law, expressly disclaimed and excluded. Nothing in this material should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities. It does not include all available information and should not be used in isolation as a basis to invest in the Company.

Future Matters | This presentation contains reference to certain intentions, expectations, future plans, strategy and prospects of the Company. Those intentions, expectations, future plans, strategy and prospects may or may not be achieved. They are based on certain assumptions, which may not be met or on which views may differ and may be affected by known and unknown risks. The performance and operations of the Company may be influenced by a number of factors, many of which are outside the control of the Company. No representation or warranty, express or implied, is made by the Company, or any of its directors, officers, employees, advisers or agents that any intentions, expectations or plans will be achieved either totally or partially or that any particular rate of return will be achieved. Given the risks and uncertainties that may cause the Company’s actual future results, performance or achievements to be materially different from those expected, planned or intended, recipients should not place undue reliance on these intentions, expectations, future plans, strategy and prospects. The Company does not warrant or represent that the actual results, performance or achievements will be as expected, planned or intended.

US Disclosure | This document does not constitute any part of any offer to sell, or the solicitation of an offer to buy, any securities in the United States or to, or for the account or benefit of any “US person” as defined in Regulation S under the US Securities Act of 1993 (“Securities Act”). The Company’s shares have not been, and will not be, registered under the Securities Act or the securities laws of any state or other jurisdiction of the United States, and may not be offered or sold in the United States or to any US person without being so registered or pursuant to an exemption from registration including an exemption for qualified institutional buyers.

All figures included in this presentation are in AUD$ unless otherwise stated. Assumed exchange rate of AUD$1:USD$0.75

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De.mem Limited (ASX:DEM)

Andreas Kroell CEO

De.mem Limited investor@demem.com.sg

Corporate Enquiries Shane Wee Director Alto Capital shane@altocapital.com.au

Media & Investor Enquires Julia Maguire Director The Capital Network julia@thecapitalnetwork.com.au +61 419 815 386

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