LYCOPODIUM LIMITED — Investor Presentation 2021

Feb 23, 2021

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Investor Presentation 1H FY2021

24 February 2021

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About Lycopodium

Lycopodium is an innovative and value-driven process, engineering and project delivery group. The Company is headquartered in Perth, Western Australia and is listed on the Australian Stock Exchange (ASX: LYL).

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2 Investor Presentation - 1H FY2021

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Michael (Mick) Caratti Peter De Leo Bruno Ruggiero
Chairman Managing Director Executive Director
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Karl Cicanese Rodney (Rod) Leonard
Executive Director Non-Executive Director
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Robert (Bob) Osmetti
Non-Executive Director
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Lawrence (Laurie) Marshall Steven Chadwick Justine Campbell
Non-Executive Director Non-Executive Director Chief Financial Officer
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Corporate Overview

Market Capitalisation ~$228.9m

Share Price (as at 19.2.21) $5.76

Shares on Issue 39.7m

Shareholder Earnings per Half Year Breakdown Share Dividend Board & Management 41% 15.4 cents 10 cents Institutions 29% Retail 30%

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Core Capabilities

Sectors

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Resources Infrastructure
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• 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

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Industrial Processes

• Pharmaceuticals

• Biotechnology

• Chemical and Energy

• Food and Beverage

• Manufacturing

• Research and Development

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Services
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• Feasibility Studies

• Process Development and Optimisation

• Engineering and Design

• Project Management and Delivery

• Project Services

• Construction Management

• Commissioning and Operations Support

• Asset Management

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4 Investor Presentation - 1H FY2021

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Locations

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Locations
Toronto
CA
Manila
PH
Brisbane
AUS
Cape Town
SA
Perth
AUS
Newcastle
AUS
Melbourne
AUS
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1H FY2021 Highlights

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Operational

Profit Revenue EBITDA Before Tax $71.0m $10.6m $8.1m Cash at Return on NPAT Bank Equity $6.3m $84.5m 7.6%

• Successful delivery of Yaouré Gold Project in Côte d'Ivoire, ahead of schedule and under budget, despite global pandemic

• Recently secured another significant EPCM project in Africa – Bomboré Gold Project in Burkina Faso

• Numerous EP scopes in delivery – Motheo, Navachab, Cobre, Sukari, Boto, Sabodala

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

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1H FY2021 Revenue by Sector

	Dec 20	Dec 19
Sector	A$’000	A$’000
Resources	60.8	99.4
Infrastructure	6.9	8.3
Industrial Processes	3.3	2.6
	71.0	110.3

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December 20

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4%
10%
86%
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December 19

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2%
8%
90%
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1H FY2021 Revenue by Geography

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December 20

	Dec 20	Dec 19
Geography*	A$’000	A$’000
Australia	17.0	18.1
Africa	50.3	87.3
Americas	1.5	1.6
Other	2.2	3.3
	71.0	110.3

* By project location

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2%
3%
24%
71%
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December 19 2%
3%
16%
79%
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1H FY2021 Balance Sheet

	Dec 20	June 20
	A$’000	A$’000
Current Assets	119.4	134.3
Total Assets	154.8	155.7
Total Liabilities	72.6	77.8
Equity	82.1	77.8

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• Strong Balance Sheet provides capacity for investment

• Minimal debt

• Net Tangible Assets per Share – $1.53

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People First

Safety performance – rolling 12 months to January 2021:

• 2.5 million manhours controlled

• Lost Time Injury Frequency Rate (LTIFR) – 0.0[1]

• Total Recordable Injury Frequency Rate (TRIFR) – 2.0

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

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Continuing to Manage COVID-19

• Twelve months operating under conditions imposed by the global pandemic – varying degrees of restrictions across our operational jurisdictions

• Impact on operations has been well managed – focus on maintaining good communication, both internally with staff and externally with clients and other stakeholders, to drive best-for-project outcomes

• Operating protocols 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 and a pipeline of future work

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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

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Investor Presentation - 1H FY2021

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

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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

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Boto Gold Project

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

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Ahafo North Project

Sector	Resources
Client	Newmont Ghana Gold Limited
Location	Ghana
Commodity	Gold
Scope	Front End Engineering and Design (FEED)
	services
Processing Capacity	3.4 to 3.7 Mtpa

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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

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Motheo Copper Project

Sector	Resources
Client	Sandfire Resources Ltd
Location	Botswana
Commodity	Copper
Scope	Engineering and Procurement (EP)
	services
Processing Capacity	3.2 Mtpa

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Cobre Ball Mill 6 Project

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

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Navachab Gold Mine Expansion

Sector	Resources
Client	QKR Namibia Navachab Gold Mine Pty Ltd
Location	Namibia
Commodity	Gold
Scope	Detailed Engineering and Design services
Processing Capacity	2.4 Mtpa

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Infrastructure Projects

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Project	Client	Location	Scope
Rail inspections and maintenance	Various port, mine	All States	Rail inspections and delivery of maintenance management at rail
management	and rail companies		terminals, yards and sidings
Inland Rail PPP (G2K)	Acciona/Cintra	QLD	Operations and Maintenance Technical Advisors
Inland Rail T2A	ARTC	VIC	Detailed Design
Port Botany Duplication	Laing O’Rourke	NSW	Tender Design
Parkes Yard Drainage	JHRCRN	NSW	Detailed Design
Pipers Flat Rail Coal Unloader Project	Energy Australia	NSW	Owners Engineer services and rail Detailed Design
North Dynon Terminal Upgrade	Qube	VIC	Detailed Design
Muswellbrook Bridges	Cardno	NSW	Rail systems Detailed Design

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Industrial Processes Projects

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Project	Client	Location	Scope
CSL Genesis III	CSL Ltd	VIC	Detailed design of balance of plant for Fractionation Facility Project Aurora
Chlor Alkali Facility	Coogee Chemicals	WA	FEED and Capital Cost Estimate for Chlor Alkali Facility train
Aqueous Ammonia	Energy Australia	NSW	EPC for replacement of Gaseous Ammonia facility to Aqueous Ammonia facility

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Strategy and Outlook

• Resource sector activity remains strong – iron ore exports are on track for a new record in 2020/21 and the price of gold remains high

• Opportunities in emerging markets – waste and recycling, water and wastewater, hydrogen

• Focus on achieving broader geographical reach – across Asia-Pacific and the Americas

• Balanced project delivery portfolio – mix of EPCM and EPC

• Continue to secure opportunities in the domestic market for sustaining capital projects

• 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

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