LYCOPODIUM LIMITED — AGM Information 2021

Nov 17, 2021

==> picture [296 x 51] intentionally omitted <==

Annual General Meeting Financial Year 2021

18 November 2021

==> picture [566 x 227] intentionally omitted <==

==> picture [397 x 430] intentionally omitted <==

About Lycopodium

Lycopodium is an innovative and value-driven process, engineering and project delivery organisation.

The Company is headquartered in Perth, Western Australia and is listed on the Australian Stock Exchange (ASX: LYL).

==> picture [160 x 27] intentionally omitted <==

2 Annual General Meeting 2021

==> picture [387 x 279] intentionally omitted <==

----- Start of picture text -----

Michael (Mick) Caratti Peter De Leo Bruno Ruggiero
Chairman Managing Director Executive Director
Karl Cicanese Rodney (Rod) Leonard Robert (Bob) Osmetti
Executive Director Non-Executive Director Non-Executive Director
----- End of picture text -----

==> picture [387 x 137] intentionally omitted <==

----- Start of picture text -----

Lawrence (Laurie) Marshall Steven Chadwick Justine Campbell
Non-Executive Director Non-Executive Director Chief Financial Officer
----- End of picture text -----

Corporate Overview

Market Capitalisation ~$178.6m

Share Price (as at 17.11.21) $4.50

Shares on Issue (as at 17.11.21) Capitalisation 39.7m $4.50 ~$178.6m Shareholder Earnings per Total Dividend Breakdown Share per Share Board & Management 41% 35.7 cents 25 cents Institutions 30% Retail 29%

==> picture [160 x 27] intentionally omitted <==

3 Annual General Meeting 2021

People First

Delivering projects safely for our clients remains a fundamental metric of success and our excellent safety and environmental performance is a credit to our delivery teams on the ground

	FY2021	Current (rolling 12 months)	Target
Hours	1.9 million	1.6 million
LTIFR	0.01	0.01	0.0
TRIFR	2.1	1.8	≤2.80
EIFR	0.0	0.0	≤2.00

1 Against Construction Industry frequency rate of 7.6 (Safe Work Australia, Key WHS Statistics Australia 2020 )

==> picture [101 x 113] intentionally omitted <==

==> picture [397 x 297] intentionally omitted <==

==> picture [160 x 27] intentionally omitted <==

4 Annual General Meeting 2021

Core Capabilities

Sectors

==> picture [197 x 128] intentionally omitted <==

==> picture [197 x 128] intentionally omitted <==

Infrastructure

Resources

• Railways

• Gold and Precious Metals

• Roads

• Base Metals

• Ports

• Battery Metals

• Non-Process Resource Infrastructure

• Specialty Metals

  • Asset Management

• Diamonds and Gemstones

• Bulk Minerals

• ₋ Iron Ore

• ₋ Minerals Sands

• ₋ Bauxite

==> picture [197 x 128] intentionally omitted <==

Industrial Processes

• Pharmaceuticals

• Biotechnology

• Chemical and Energy

• Food and Beverage

• Manufacturing

• Research and Development

==> picture [101 x 113] intentionally omitted <==

==> picture [257 x 36] intentionally omitted <==

----- Start of picture text -----

Services
----- End of picture text -----

==> picture [257 x 128] intentionally omitted <==

• Feasibility Studies

• Process Development and Optimisation

• Engineering and Design

• Project Management and Delivery

• Project Services

• Construction Management

• Commissioning and Operations Support

• Asset Management

==> picture [160 x 27] intentionally omitted <==

5 Annual General Meeting 2021

FY2021 Financial Highlights

Profit Revenue EBITDA Before Tax $162.2m $26.5m $21.5m Cash at Return on NPAT Bank Equity $14.2m $76.8m 17%

==> picture [101 x 113] intentionally omitted <==

• In spite of the disruptions and uncertainties of FY2021, we continued to win work with existing and new clients across our core operating sectors of Resources, Infrastructure and Industrial Processes

• This saw revenue remain steady, consistent with the guidance provided at 1H FY2021

• Full-year NPAT was stronger than predicted at halfyear ($14m vs $12m)

==> picture [160 x 27] intentionally omitted <==

Annual General Meeting 2021

6

FY2021 Revenue by Sector

==> picture [101 x 113] intentionally omitted <==

==> picture [69 x 15] intentionally omitted <==

----- Start of picture text -----

FY2021
----- End of picture text -----

==> picture [15 x 8] intentionally omitted <==

----- Start of picture text -----

4%
----- End of picture text -----

	FY2021	FY2020
Sector	A$’000	A$’000
Resources	140.8	189.5
Infrastructure	14.0	16.2
Industrial Processes	7.4	5.4
	162.2	211.1

==> picture [239 x 133] intentionally omitted <==

----- Start of picture text -----

9%
87%
----- End of picture text -----

FY2020

==> picture [239 x 137] intentionally omitted <==

----- Start of picture text -----

2%
8%
90%
----- End of picture text -----

==> picture [160 x 27] intentionally omitted <==

7 Annual General Meeting 2021

FY2021 Revenue by Geography

==> picture [101 x 113] intentionally omitted <==

FY2021

	FY2021	FY2020
Geography*	A$’000	A$’000
Australia	42.5	37.8
Africa	100.9	152.3
Americas	6.7	4.6
Other	12.1	16.4
	162.2	211.1

* By project location

FY2020

==> picture [225 x 126] intentionally omitted <==

----- Start of picture text -----

4%
8%
26%
62%
----- End of picture text -----

==> picture [242 x 135] intentionally omitted <==

----- Start of picture text -----

2%
8% 16%
18%
79%
72%
----- End of picture text -----

==> picture [160 x 27] intentionally omitted <==

8 Annual General Meeting 2021

FY2021 Balance Sheet

	FY2021	FY2020
	A$’000	A$’000
Current Assets	128.7	134.3
Total Assets	164.1	155.7
Total Liabilities	76.4	77.8
Equity	87.7	77.8

==> picture [101 x 113] intentionally omitted <==

• Strong Balance Sheet provides capacity for investment

• Minimal debt

• Net Tangible Assets per Share – $2.04

==> picture [160 x 27] intentionally omitted <==

9 Annual General Meeting 2021

FY2021 Operational Highlights

==> picture [47 x 43] intentionally omitted <==

==> picture [101 x 113] intentionally omitted <==

Resources

• Worked across most major commodities, including iron ore, gold, copper, nickel, lithium, graphite, diamonds, platinum and mineral sands

• Projects spread across the globe – predominantly in Africa, Australia, Southeast Asia and North and Central America

• Successfully completed our largest EP(C) contract to-date, Perseus’ Yaouré Gold Project in Côte d'Ivoire, ahead of schedule and under budget despite the global pandemic

• Award of a number of significant EPCM contracts – Motheo (Botswana); Bomboré (Burkina Faso); Ahafo North (Ghana); Talison MSA (Western Australia); and the design, supply and project delivery for Séguéla (Côte d’Ivoire)

• Ongoing delivery of numerous EP and FEED scopes – Boto (Senegal); Cobre (Panama); Sukari (Egypt); Sabodala (Senegal); Los Filos (Mexico); Batu Hijau (Indonesia); Talison CGP3 (Western Australia); Navachab (Namibia); and Lepidico’s Phase 1 Integrated Project (Namibia and UAE), with subsequent award of the full EPCM contract for these last three projects during the first half of FY2022

• Mondium continued delivery of the EPC scope for Rio Tinto’s Western Turner Syncline Phase 2 iron ore project in the Pilbara, with first ore achieved in October, and the EPC contract for Talison Lithium’s Tailings Retreatment Project in the south-west of Western Australia

• Studies pipeline has remained strong and continues to deliver subsequent FEED, EP, EPCM and EPC scope opportunities

==> picture [160 x 27] intentionally omitted <==

10 Annual General Meeting 2021

FY2021 Operational Highlights

• Continued to work with some of Australia’s largest rail operators, in both passenger and freight rail systems

• Servicing greenfield and brownfield rail projects, provided design, engineering, technical advisory and rail infrastructure management (RIM) services to various clients, including Pacific National, Crawford Freightlines, New South Wales’ Country Regional Network (CRN) and the Australian Rail Track Corporation’s (ARTC) Inland Rail initiative

• Also continued to support Main Roads Western Australia (MRWA) in the provision of Project Management services

==> picture [101 x 113] intentionally omitted <==

==> picture [47 x 43] intentionally omitted <==

Infrastructure

==> picture [395 x 296] intentionally omitted <==

==> picture [160 x 27] intentionally omitted <==

11 Annual General Meeting 2021

FY2021 Operational Highlights

• Delivered projects and engineering services across key areas of expertise, including specialty chemicals, pharmaceutical, food and beverage production and heat/mass transfer

• This included providing specialist services to Boeing in their aerospace component manufacturing facilities, Kawasaki in Hydrogen related facilities, Commonwealth Serum Laboratories for plasma and blood products as well as base vaccine component production facilities, Thales in defence and munitions, Lamb Weston in food and beverage production, and Energy Australia in the replacement of its gaseous ammonia facility to an aqueous ammonia facility

==> picture [101 x 113] intentionally omitted <==

==> picture [47 x 43] intentionally omitted <==

Industrial Processes

==> picture [395 x 298] intentionally omitted <==

==> picture [160 x 27] intentionally omitted <==

12 Annual General Meeting 2021

Business Improvement

• Commitment to improving organisational connectedness to support greater collaboration across the Company:

• Ongoing embedment of Corporate Shared Services model during FY2021, supporting standardisation across key functions, including Finance, Information Technology and Business Systems, People, Marketing and Communications and Legal

• Technical Assurance Group (TAG) driving consistency in approach across processes and procedures, enabling effective workshare to fully leverage the specialist expertise of our people, regardless of geographical location

• Attracting, engaging and retaining a high-performing, professional workforce – focus throughout the year on recruitment, talent management, leadership and succession planning and learning and development

==> picture [101 x 113] intentionally omitted <==

==> picture [396 x 297] intentionally omitted <==

==> picture [160 x 27] intentionally omitted <==

13 Annual General Meeting 2021

==> picture [101 x 113] intentionally omitted <==

Innovation

Committed to fostering a culture of enquiry and innovation, we introduced an internal innovation award in 2021 to recognise and reward ideas that inspire us and have the potential to positively impact the business

A number of innovative ideas were progressed during the year:

Dry Mining Unit

• The DMU represents the radical marriage of underwater track crawler technology with high capacity skid-mounted materials handling and sand pumping systems, into a single 400 ton remotely controlled mobile sand processing machine

• The technology will be implemented at the Grande Côte mineral sands operation in Senegal, the largest single dredge mineral sands operation in the world

• Developed by ADP in Cape Town, the DMU was the inaugural winner of our Innovation Award

Digital Twin

• The connected digital twin approach, whereby the plant is engineered as a static digital twin (digital replica of the asset) using augmented reality and virtual reality technology, enables the static digital twin to be the primary interface for operations and plant maintenance, linked to the connected digital twin running in the background

• The technology, developed collaboratively by ADP and a Tier 1 client, will provide whole-of-life benefits that will lead to better designs and more efficient operations in the future

ATA[TM] Technology

• ADP has designed and constructed a unit to implement ATA[TM] technology on a mine site to convert mineral waste slurry into two discrete products – a dewatered solid for landfill, construction and/or reclamation, and a clean water stream that can be immediately reused on site

• The unit is containerised and is currently in test phase at the Orapa diamond mine in Botswana and all process data recorded will be used to generate a design envelope for the full system

Orway IQ

FBICRC

OIQ is continuing to roll out • its MillROC (Mill Remote Optimisation Consulting and Coaching) platform

As a key participant in the Future Battery Industries Cooperative Research Centre, we are collaborating with researchers, governments and the community to support the development of Australia’s battery industries value chain

The platform provides customised data analysis and dashboards and is used by OIQ’s specialist metallurgists and advanced process control consultants to deliver • real-time coaching and implementation of continuous improvement • initiatives

• • We are directly participating in five of the FBICRC’s foundation projects

• The first of these to commence is the flagship Cathode Precursor Production Pilot Plant, for which Lycopodium is providing the FEED services

• Perseus’ Yaouré mine was the first project to be purpose-built ‘MillROC ready’

==> picture [160 x 27] intentionally omitted <==

14 Annual General Meeting 2021

Continuing to Manage COVID-19

• FY2021 represented the first full year operating under the challenges presented by the global pandemic, with varying degrees of restrictions across our operational jurisdictions

• Impact on operations has continued to be well managed, with open lines of communication vital, both internally with staff and externally with clients and other stakeholders, particularly given new projects mobilising in Africa

• Operating protocols are aligned with the advice provided by the various governments and authorities within our operational locations globally

• Focus remains on the health and wellbeing of our people, clients and partners, and the broader communities in which we operate, working together to maintain business continuity

• The mental health and wellbeing of our people has been a particular area of focus, with ongoing support provided

==> picture [136 x 193] intentionally omitted <==

==> picture [133 x 194] intentionally omitted <==

==> picture [101 x 113] intentionally omitted <==

==> picture [135 x 193] intentionally omitted <==

==> picture [135 x 193] intentionally omitted <==

==> picture [160 x 27] intentionally omitted <==

15 Annual General Meeting 2021

Our Community

Our engagement with the communities within which we live and work is an integral part of how we like to do business and in late FY2021 we established the Lycopodium Foundation, to provide a formal vehicle for the administration of our philanthropic, community engagement and sponsorship activities:

• A key pillar of our engagement strategy is to support social development and education and therefore our established partnerships with the Murlpirrmarra Connection in Australia and BASICS International in Africa remain ongoing

• In response to the hardships being felt as a result of the pandemic, we contributed to the Salvation Army and St Vincent de Paul Society to assist families in need in our community and also supported the Child In Need Institute, an NGO which launched a COVID relief campaign to establish assistance centres in metro cities across India

• Also in response to the pandemic, our electrically operated ventilator, LycoVent, obtained its Export Only Listing for use outside of Australia, and in partnership with Australian Doctors for Africa, we intend to make LycoVent available to African hospitals

• Throughout the year, the Company also continued to support various charitable initiatives championed by our staff, including Jeans for Genes, Breast Cancer Care WA and the Cancer Council

==> picture [101 x 113] intentionally omitted <==

==> picture [294 x 136] intentionally omitted <==

==> picture [201 x 205] intentionally omitted <==

==> picture [160 x 27] intentionally omitted <==

16 Annual General Meeting 2021

==> picture [961 x 541] intentionally omitted <==

----- Start of picture text -----

FY2021 Major Projects
17 Annual General Meeting 2021
----- End of picture text -----

Yaouré Gold Project

Sector	Resources
Client	Perseus Mining Limited
Location	Côte d'Ivoire
Commodity	Gold
Scope	Engineering, Procurement and
	Construction (EP(C)) services
Processing Capacity	3.3 Mtpa

Yaouré was delivered ahead of schedule and under budget, despite the pandemic – construction continued throughout 2020 and the stretch target of first gold in December 2020 was achieved

==> picture [101 x 113] intentionally omitted <==

==> picture [398 x 373] intentionally omitted <==

==> picture [160 x 27] intentionally omitted <==

Annual General Meeting 2021

18

Bomboré Gold Project

Sector	Resources
Client	Orezone
Location	Burkina Faso
Commodity	Gold
Scope	Engineering, Procurement and
	Construction Management (EPCM)
	services
Processing Capacity	5.2 Mtpa

==> picture [101 x 113] intentionally omitted <==

==> picture [398 x 373] intentionally omitted <==

==> picture [160 x 27] intentionally omitted <==

19 Annual General Meeting 2021

Western Turner Syncline Phase 2

Sector	Resources
Client	Rio Tinto
Location	Pilbara, Western Australia
Commodity	Iron Ore
Scope	Engineering, design, procurement and
	construction of the mineral processing
	facilities and associated non-process
	infrastructure
	Awarded and delivered via Mondium

==> picture [101 x 113] intentionally omitted <==

==> picture [398 x 373] intentionally omitted <==

==> picture [160 x 27] intentionally omitted <==

20 Annual General Meeting 2021

Boto Gold Project

Sector	Resources
Client	IAMGOLD Corporation
Location	Senegal
Commodity	Gold
Scope	Engineering and Procurement (EP)
	services
Processing Capacity	2.7 Mtpa

==> picture [101 x 113] intentionally omitted <==

==> picture [398 x 373] intentionally omitted <==

==> picture [160 x 27] intentionally omitted <==

21 Annual General Meeting 2021

Ahafo North Project

Sector	Resources
Client	Newmont Ghana Gold Limited
Location	Ghana
Commodity	Gold
Scope	Engineering, Procurement and
	Construction Management (EPCM)
	services
Processing Capacity	3.4 to 3.7 Mtpa

==> picture [101 x 113] intentionally omitted <==

==> picture [398 x 373] intentionally omitted <==

==> picture [160 x 27] intentionally omitted <==

22 Annual General Meeting 2021

Séguéla Gold Project

Sector	Resources
Client	Fortuna Silver Mines Inc
Location	Côte d’Ivoire
Commodity	Gold
Scope	Design, supply and project delivery
	services
Processing Capacity	1.25 Mtpa

==> picture [101 x 113] intentionally omitted <==

==> picture [398 x 373] intentionally omitted <==

==> picture [160 x 27] intentionally omitted <==

23 Annual General Meeting 2021

Tailings Retreatment Project

Sector	Resources
Client	Talison Lithium
Location	Greenbushes, Western Australia
Commodity	Lithium
Scope	Engineering, Procurement and
	Construction (EPC) services
	Awarded and delivered via Mondium
Processing Capacity	2 Mtpa

==> picture [101 x 113] intentionally omitted <==

==> picture [398 x 373] intentionally omitted <==

==> picture [160 x 27] intentionally omitted <==

24 Annual General Meeting 2021

Motheo Copper Project

Sector	Resources
Client	Sandfire Resources Ltd
Location	Botswana
Commodity	Copper, Silver
Scope	Engineering, Procurement and
	Construction Management (EPCM)
	services
Processing Capacity	3.2 Mtpa

==> picture [101 x 113] intentionally omitted <==

==> picture [398 x 373] intentionally omitted <==

==> picture [160 x 27] intentionally omitted <==

25 Annual General Meeting 2021

Cobre Ball Mill 6 Project

Sector	Resources
Client	First Quantum Minerals
Location	Panama
Commodity	Copper, Gold, Silver, Molybdenum
Scope	Engineering Design, Procurement Support
	(Ep) and construction/commissioning
	support services
Processing Capacity	100 Mtpa

==> picture [101 x 113] intentionally omitted <==

==> picture [398 x 373] intentionally omitted <==

==> picture [160 x 27] intentionally omitted <==

26 Annual General Meeting 2021

Navachab Gold Mine Expansion

Sector	Resources
Client	QKR Namibia Navachab Gold Mine Pty Ltd
Location	Namibia
Commodity	Gold
Scope	Engineering and Procurement (EP)
	services – subsequently awarded CM
	scope
Processing Capacity	2.5 Mtpa

==> picture [101 x 113] intentionally omitted <==

==> picture [398 x 373] intentionally omitted <==

==> picture [160 x 27] intentionally omitted <==

27 Annual General Meeting 2021

==> picture [961 x 541] intentionally omitted <==

----- Start of picture text -----

Recently Awarded New Work
28 Annual General Meeting 2021
----- End of picture text -----

Recent Awards

==> picture [47 x 43] intentionally omitted <==

==> picture [101 x 113] intentionally omitted <==

Resources

Project	Client	Location	Commodity	Scope
Chemical Grade Processing Plant #3 (CGP3)	Talison Lithium	Western Australia	Lithium	Engineering, Procurement and Construction Management (EPCM) services
Phase 1 Integrated Project	Lepidico	Namibia & UAE	Lithium	EPCM services
Navachab	QKR	Namibia	Gold	EPCM services
Lithium Hydroxide Plant 2 (LHP2)	Tianqi Lithium	Western Australia	Lithium	Professional services for the LHP2 Recommencement Project Phase 1, including project strategies and engineering

==> picture [160 x 27] intentionally omitted <==

29 Annual General Meeting 2021

Recent Awards

==> picture [47 x 43] intentionally omitted <==

==> picture [101 x 113] intentionally omitted <==

Infrastructure

Project	Client	Location	Scope
Country Regional Network (CRN)			Engineering investigation of the current condition of various
25 tonne Axle Load Upgrade	John Holland Rail	NSW	operational lines across the CRN and development of a capital
Assessments – various lines			scope of works to increase the axle loading to 25 tonne/axle
Pacific National Yard Maintenance Delivery	Pacific National Maintenance	NSW	Managing contractor for the delivery of various maintenance works at Port Kembla and Kooragang Island
Reid/Erindale Grade Separation	Main Roads WA	WA	Project Management services
Kwinana Rail Terminal Expansion	Aurizon	WA	Yard upgrade concept master plan
Picton to Colo Vale Line Track Upgrade and Extension	Transport Heritage NSW (THNSW)	NSW	Project Management services

==> picture [160 x 27] intentionally omitted <==

30 Annual General Meeting 2021

Recent Awards

==> picture [101 x 113] intentionally omitted <==

==> picture [47 x 43] intentionally omitted <==

Industrial Processes

Project	Client	Location	Scope
CSL Seqirus Flu Cell Culture	CSL Seqirus	VIC	Design Consultancy services
Chlor Alkali Facility	Coogee Chemicals	WA	Design Consultancy services
Synchrotron Biosax Beamline	ANSTO Synchrotron	VIC	Site Construction and Safety Management services
Nitrogen Vaporizer	Boeing	VIC	Design and Construct
Through Air Dryer/Dry Ingredients Milling	Thales	NSW	Design Consultancy services
Hydrogen Project	JGC/Rio Tinto	QLD	Documentation Compliance and Consultancy services

==> picture [160 x 27] intentionally omitted <==

31 Annual General Meeting 2021

Outlook and Strategy

Outlook

• Resource sector activity remains strong, supporting new development and sustaining capital opportunities going forward – value of iron ore reached an all-time high in FY2021 and demand for gold continues

• Surging demand for resources used in new and low emission technologies is driving the development of copper, nickel cobalt, graphite, vanadium and lithium assets

• Ongoing growth in emerging markets, including waste and recycling, water and wastewater and hydrogen

• Full year FY2022 guidance – revenue of approximately $250 million and NPAT between $19 and $20 million

==> picture [101 x 113] intentionally omitted <==

Strategy

• Development of a more formalised footprint in the renewable energy sector with the establishment of Lycopodium Energy

• Focus on achieving broader geographical reach – across AsiaPacific and the Americas

• Balanced project delivery portfolio – mix of EPCM and EPC

• • Grow recurring revenue streams

• People Plan – continue to attract, engage, inspire and retain a high performing, global, professional workforce

• Innovation and emerging technology – digital twinning (ADP and Orway IQ) and Future Battery Industries Cooperative Research Centre (FBICRC)

• Improved knowledge management – driving increased efficiency and facilitating work sharing across divisions and subsidiaries globally

==> picture [160 x 27] intentionally omitted <==

32 Annual General Meeting 2021

==> picture [961 x 541] intentionally omitted <==

----- Start of picture text -----

Thank You
33 Annual General Meeting 2021
----- End of picture text -----