IMDEX LIMITED — Investor Presentation 2015

Mar 11, 2015

216 Balcatta Road, Balcatta Western Australia 6021 PO Box 1262, Osborne Park Western Australia 6916

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Tel: +61 (0) 8 9445 4020 Fax: +61 (0) 8 9445 4042 imdex@imdexlimited.com

www.imdexlimited.com ABN 78 008 947 813

12 March 2015

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

Dear Sir/Madam

Euroz Rottnest Forum Presentation

Please find attached the Euroz Rottnest Forum Presentation to be presented later today.

Yours faithfully Imdex Limited

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Paul Evans Company Secretary

Providing innovative drilling fluids and advanced down hole instrumentation worldwide.

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EUROZ SECURITIES INSTITUTIONAL CONFERENCE Rottnest Island March 2015

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Structured to meet client needs

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Global business – Located where our customers are

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1H15 Results Overview

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• Market conditions in the minerals sector improved during 1H15

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• 8.5% increase in the number of REFLEX rental instruments on hire in 1H15 average

• compared to the prior corresponding period

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Growing number of SRUs on hire , with further increases expected

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• Increasing adoption of REFLEX HUB technology

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• Activity in the oil and gas sector impacted by the fall in oil price

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• 1H15 results impacted by $12.1m abnormal gain due to:

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• $14.2m profit on sale of remaining investment in Sino*; and

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• Additional $2.1m provided in respect of the March 2014 product containment incident

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• Solid balance sheet maintained and well positioned for 2015

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• Continued investment in and commercialisation of new product development products

• to lower costs and increase efficiency of customers’ operations.

*Sino Gas and Energy (ASX:SEH)

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1H15 Key Metrics

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Group Revenue

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Combined Revenue increased 12.3% to $114.4 million:

Minerals Division 62%;

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Oil & Gas Division 38% - Inclusive of VES revenue of $13m (1H14: $9.7m).

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Includes 30% equity accounted VES NPAT.

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Strong EBITDA margins in VES of 36% (1H14: 36%).

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Signs of measured Minerals recovery continue into 2H15.

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Global Business Increasing Combined Revenue

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1H15 EBITDA Segment Result

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The 1H15 result includes profit on sale of remaining investment in SEH ($14.2m), together with an additional amount provided for in relation to the product containment incident announced to the market on 13 March 2014 ($2.1m).

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Balance Sheet

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Sale of our remaining SEH investment in 1H15 VES investment increased due to strengthening USD Receivable increases due to increasing business and tougher collection environment 31 Dec 14 net debt $30.4m; reduced from SEH proceeds. Comfortable gearing 13.7% Investment in Fixed Assets to support new business

Increase in net deferred tax with increase in rental fleet

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Minerals Division

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• the with the return of some

• Increasing drilling activity during period, particularly brownfields expenditure by the major resource companies

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• REFLEX Rental fleet barometer average +8.5% for 1H15 versus prior corresponding period

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• Number of SRUs on hire increased during seasonal holiday slowdown ; increased demand from Americas continues

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• Continued expansion of customer base , together with greater exposure to resource companies and the production phase of the mining cycle

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• Increased exposure and capabilities within non mining applications , including HDD and waterwell markets

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• Increased adoption of REFLEX HUB – maintaining first mover advantage

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• 2iC acquisition integrated; ensures REFLEX is the provider of the most complete range of core orientation solutions

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Solutions driven product development and innovation continued during the period.

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Minerals Division

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Minerals Division contributed 62% of the Company’s combined revenue

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• 11% increase on the prior corresponding period.

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Minerals Division – Revenue Base

Minerals revenue largely sourced from intermediate and major mining companies

Majority of revenue from development and production projects

Diverse mix of commodity exposures – largely gold/copper.

Outside of seasonal shutdown, month-on-month increases in units on rent from July 2014

Rental fleet robust leading into the seasonal shut down in December

End Feb 2015 equal to July/August 2014 levels.

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Mineral Exploration

Expenditure – Non ferrous

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Non ferrous exploration expenditure reduced by >US$10bn over the last 2 years

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Back to 2007 levels

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Current activity largely driven by the Majors spending around existing projects (brownfield).

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In 2014, 39 Major companies accounted for 40% of the US$10.74bn worldwide exploration total.

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The Reflex Story...

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The Reflex Story...

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The Reflex Story...

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The Reflex Story...

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The Reflex Story...

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REFLEX HUB – Global customer base

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SRU Growth Drivers & Benefits

Increasing number of Solids Removal Units (SRU) on hire due to:

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Unique sump-less technology

Increasing adoption of the SRU technology in the US

Increasing environmental regulation & awareness

Increasing focus on reduction of cost, increasing drilling efficiency and improving safety of personnel

Reduced water consumption; minimal drilling footprint; lower site set up & remediation costs

AMEC Environment Award Winner – July 2014

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Oil & Gas Division

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• Record revenue of $43.6 million up 14% on prior corresponding period (1H14: $38.2 million)

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• During 1H15, continued investment in AMC Oil & Gas equipment, working capital and personnel

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• Strong revenue and EBITDA performance by VES; EBITDA margins maintained at 36%

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• Continued investment in InFlex technology to support VES the fastest and most accurate downhole survey instrument in the Oil & Gas industry

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• Drilling fluids, solids control & waste management are multi-billion dollar markets;

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• Diversification strategy to grow the Oil & Gas Division to off-set cyclical downturns in minerals business. The recent collapse in oil price provides challenges in 2H15 and beyond.

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• In the process of ensuring AMC Oil & Gas is structured appropriately for the current market conditions.

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Oil & Gas Division - Combined Revenue

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VES International

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Imdex has 30% interest in VES

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• Strong performance in 1H15. 2H15 will be more challenging

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Focus on continued development of InFlex technology (formerly Target INS).

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FY15 outlook – cautiously optimistic

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• Evidence of increasing activity . Cautious optimism for ongoing measured recovery in the Minerals Division

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• Increased interest in new a for further revenue technologies provides strong platform

• growth through 2015 and beyond

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• Alignment with customers focused on maximising efficiency and increasing productivity

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• Ability to leverage Imdex’s specialist expertise and product development capabilities

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• Despite reduced expenditure in the energy sector due to the recent weakness of the oil price, a large multi-billion dollar market for drilling fluids and associated equipment remains

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• Strongly positioned to capitalise on a number of opportunities within core markets to improve the Minerals result for FY15.

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2H15: Key priorities

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• Marketing new technologies to new and existing customers globally

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• Increasing sustainable revenue streams via REFLEX HUB

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• Continue to provide solutions to customers to increase the productivity and – –

• efficiency of their operations increasing number of SRUs on hire significant opportunities in the Americas

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• Increasing exposure and capabilities within non-mining applications , including HDD and waterwell markets

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• Increasing exposure to the production/mining phase of the project life cycle in the minerals sector

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• Increasing market share in previously under-penetrated regions focus on AMC fluids & REFLEX technologies

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• Ensure AMC Oil & Gas is structured appropriately for the current operating conditions in the sector

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• Maintain strong cost discipline and prudent working capital management.

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Disclaimer

This presentation has been prepared by Imdex Limited (“the Company”). It contains general background information about the Company’s activities current as at the date of the presentation. It is information given in summary form and does not purport to be complete. The distribution of this presentation in jurisdictions outside Australia may be restricted by law and you should observe any such restrictions.

This presentation is not (and nothing in it should be construed as) an offer, invitation, solicitation or recommendation with respect to the subscription for, purchase or sale of any security in any jurisdiction, and neither this document nor anything in it shall form the basis of any contract or commitment. The presentation is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any particular investor. These should be considered, with or without professional advice, when deciding if an investment is appropriate.

The Company has prepared this presentation based on information available to it, including information derived from publicly available sources that have not been independently verified. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness, correctness or reliability of the information, opinions and conclusions expressed.

Any statements or assumptions in this presentation as to future matters may prove to be incorrect and differences may be material. To the maximum extent permitted by law, none of the Company, its directors, employees or agents, nor any other person accepts any liability, including, without limitation, any liability arising from fault or negligence on the part of any of them or any other person, for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it.

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