IMDEX LIMITED — Investor Presentation 2007

Oct 7, 2007

8 October 2007

Company Announcements Office Australian Stock Exchange Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2001

Dear Sir/Madam

Commsec Mining Services Conference Presentation

Please find attached a copy of the presentation being made to the attendees of the CommSec Mining Services Industry Conference later today.

Yours faithfully

Imdex Limited

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Paul Evans Company Secretary

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Imdex Limited ACN 008 947 813 ABN 78 008 947 813 Level 1 15 Rheola Street, West Perth Western Australia 6005 PO Box 1325 West Perth WA 6872 Phone +61 8 9481 5777 Fax +61 8 9481 5377 E-mail imdex@imdex.com.au Page 1 of 1

Quality Endorsed Company ISO 9002 LIC: QEC 2807 Standards Australia

IMDEX Limited

“Australia’s Global Drilling Products & Services Company”

Mining Industry Tour and Conference

8 October 2007

• Who we are

– what we do – our global reach

• Where have we been

• Growth Story – acquisitions (FY07 & FY08)

� Group Structure

• What are our Strengths

• FY07 Highlights, P & L Summary and Balance Sheet

� Imdex Snapshot

• Outlook

• Mineral Exploration Expenditure

October 2007

� Imdex is a Perth based, ASX listed company (IMD) supplying drilling products and services globally

• The industries serviced include:

• Mineral exploration

• Mining

• Oil and gas

• Water well

• Civil

• Imdex has two global operating divisions:

• Drilling fluids and chemicals

• Drilling products (down-hole instrumentation) and services

October 2007

• Imdex is a market leader in many disciplines

• Imdex is building on its comprehensive global distribution and supply network - recent agreements with Sandvik (distribution) and Boart Longyear (supply)

• Imdex engages 200+ employees across the world

• Imdex operates from 10 major locations to service the global mining and oil & gas business

• Imdex has representation in all major mining and exploration regions in the world

October 2007

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WHO WE ARE – GLOBAL REACH
Major Operational Locations
Other Operations
Europe Germany Sweden
Kazakhstan Switzerland
Mongolia Turkey
UK
Vallentuna (Sweden)
Timmins
Calgary
East Sussex (UK)
Almaty (Kazakhstan)
China
Indonesia
Laos
Malaysia
New Zealand
Congo Papua New Guinea
Ghana Philippines
Guinea Singapore
Mali Thailand
Brisbane
Mauritania Kalgoorlie
South Africa Perth Canada Santiago
Johannesburg
Tanzania Chile
Uganda Mexico
Zambia Peru
Africa Asia Pacific Americas
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October 2007

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Revenue by Division
$30.0 EBITA (normal operations)
$140.0
$25.0
$120.0
$100.0 $20.0
$80.0
$15.0
$60.0
$10.0
$40.0
$5.0
$20.0
$0.0 $0.0
FY03 FY04 FY05 FY06 FY07 FY03 FY04 FY05 FY06 FY07
Fluids and Chemicals Products and Services Minerals Processing
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Imdex has demonstrated consistent growth in revenue and profitability

October 2007

Expansion of the Group continued in FY07 with the acquisition of three down-hole surveying instrument companies:

Reflex, Sweden Chardec, UK (1 August 06) (1 August 06) $25.4m $17m

Flexit, Sweden (1 May 07) $22m

October 2007

� 2 acquisitions effective 1 July 07 with a 3[rd] scheduled for 1 November 07

Poly-Drill, Canada – acquisition effective 1 July 07 (cost A$3.5m)

Suay Energy Services, Kazakhstan – acquisition of 75% effective 1 July 07 (cost A$0.5m)

Southernland, Chile – acquisition proposed 1 November 07 (cost US$2.6m)

October 2007

IMDEX LIMITED

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Drilling Fluids &
Chemicals Division
Australian
Suay Southern-
Samchem Mud Poly-Drill
Energy * land ^
Company
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Drilling Products & Services Division

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Surtron [#] Reflex Chardec Flexit
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• • From 1 July 2007

• ^ - From 1 November 2007

- Potential divestment prior to 31 December 2007

October 2007

Organic and acquisition growth have added to our strengths:

� IP ownership and manufacturing technologically leading products for the drilling industry

• Strong brands in Australia and internationally

• Global distribution and supply network

� Customer focused local management expertise (think global; act local)

• Powerful research & development capability

October 2007

up 153% up 79% up 69% up 60% up 44% 1.5 cents

October 2007

October 2007 FY07 RESULTS – P&L SUMMARY - 2.00 2.50 Dividendsper Share 3.66 6.07 8.74 Earning per Share 213% 91% 60% 3,155 10,074 16,141 Operating Cash Flow 213% 91% 69% 4,172 7,984 13,518 Net Profit after Tax 272% 118% 87% 5,499 11,983 22,398 EBIT 630% 109% 109% 6,889 14,414 30,196 EBITDA 1% 67% 79% 40,051 66,792 119,340 Revenue 2005 $000’s 2006 $000’s 2007 $000’s Year ended 30 June Sales up by 79%

Goodwill & intangible assets Other assets Property, plant & equipment Financial assets Inventory Receivables Cash	2007 $000’s	2006 $000’s
	62,779 888 13,207 16,056 13,839 27,806 15,271	3,219 136 9,967 4,500 9,707 18,798 6,421
Total Assets	149,846	52,748
Provisions / Deferred tax liabilities Vendor finance - Chardec Other borrowings Hire purchase borrowings Bank loan Commercial bills Payables	7,141 10,088 502 2,407 15,140 12,300 25,654	1,514 - - 2,894 - - 15,687
Total Equity	76,614	32,653
Debt to Equity D/(D+E)

October 2007

Top 10 Shareholders	Top 10 Shareholders
11.5% Fiberform Vinidic Holding AB	3.5% RBC Dexia Investor Services Australia Nominees Pty Ltd (PIIC Account)
7.3% ANZ Nominees	3.1% Queensland Investment Corporation
5.2% J P Morgan Nominees	2.6% HSBC Custody Nominees
4.6% National Nominees	2.6% RBC Dexia Investor Services Australia Nominees Pty Ltd (BKCust Account)
3.7% Citicorp Nominees	2.5% RBC Dexia Investor Services Australia Nominees Pty Ltd (PIPooled Account)

Current share price Number of shares Market capitalisation	160¢ 181.47m $290.35m
EBITDA Depreciation EBITA Amortisation EBIT NPAT	$30.20m ($4.37m) $25.83m ($3.43m) $22.40m $13.52m
Basic earnings per share Earnings per share growth	8.74¢ 44%
Dividend per share Dividend payout ratio	2.50¢ 28.6%
Chairman Ian Burston
Managing Director Bernie Ridgeway
Non-Exec Director Ross Kelly
Non-Exec Director Kevin Dundo
Non-Exec Director Magnus Lemmel

October 2007

• Imdex is becoming the fourth global player in drilling fluids behind M-I (Schlumberger/Smith International), Halliburton and Baker Hughes

• Imdex is supplying market leading technology in down hole instrumentation

• Strong demand for commodities and energy is expected to continue to be driven by China and other emerging South East Asian economies

• Strong commodity prices are forecast for the medium term

• a

• These factors are driving global mineral exploration nd mining expenditure with the main areas of growth forecast in Africa, Latin America and CIS

• The mineral exploration and mining industries represent a large portion of Imdex business. We are aiming to diversify our client base by increasing product offerings in the oil and gas industry.

October 2007

• Energy sector continuing to show strong operating conditions

• We expect to increase market penetration with drilling fluids and other products into oil & gas industry (eg MEMS gyro, solids control equipment)

• Significant growth is expected from recent acquisitions of Flexit, Suay, PolyDrill. Southernland should contribute, effective 1 November 2007

• Our strategy is to

• provide superior customer service

• consolidate the business and make new “bolt-on” acquisitions

• continue to build scale in both drilling fluids and down hole instrumentation

• support existing distribution/supply alliances and form additional supply alliances

• launch new, improved products onto the global market – maintain/extend product

• leadership

• Board and Management committed to delivery of growth and dividends to fellow shareholders

October 2007

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Estimated Exploration Spend Worldwide (Non Ferrous)
US$ Billions
$10.0
$9.0
$8.0
$7.0
$6.0
$5.0
$4.0
$3.0
$2.0
$1.0
$0.0
1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Data from the Corporate Exploration Strategies report of the Metals Economics Group – 2007 preliminary estimates
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There is sustainable growth in the resources sector

• Budgeted mineral exploration expenditure is a record US$10B in 2007 up 33% on the US$7.5B in 2006

• Exploration in non mature markets growing fast

• Demand continues to grow e.g. China, India

• Years of underinvestment

• Deeper and more complicated ore bodies

October 2007

Worldwide Exploration Budgets* by Region 2006 (%)

Worldwide Exploration Budgets* by Stage 2006 (%)

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Pacific /
United
Latin
SE Asia
States America Minesite
Grass
Australia 8% 4% 24% 18% roots
11%
39%
16%
19%
Africa 43%
18%
Canada
Late
Stage
Rest of
World
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• Brownfields exploration greater than greenfields from 2005 onwards

• In the decade prior to 2004, greenfields averaged over 50% more than brownfields

� Back to Imdex Outlook

• 1,624 companies’ budgets totalling $7.13 billion Source: Metals Economics Group 2006

October 2007

IMDEX Limited

Australia’s Global Drilling Products & Services Company - a service provider to the natural resources industries