SCIDEV LTD — Interim / Quarterly Report 2024

Feb 27, 2024

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1H FY24 Investor Update 28 FEBRUARY 2024

Seán Halpin CHIEF EXECUTIVE OFFICER

1H FY24 Highlights

RECORD EBITDA REVENUE $50.3m $3.2m GROSS MARGIN ADJUSTED EBITDA GROWTH

29%

25%

CASH AND CASH EQUIVALENTS $5.8m with a further A$8.1m in inventory as at 31 DECEMBER 2023

POSITIVE CASH FLOW

$0.5m

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85 0 FULL-TIME NOTIFIABLE EQUIVALENTS SAFETY INCIDENTS Leverage STRATEGIC PARTNERSHIPS AND LICENCING TO DRIVE GROWTH

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Global ROLLING OUT CORE TECHNOLOGIES INTO EUROPE & AMERICAS

7bn LITRES WATER TREATED TO DATE

30+ PFAS IMPACTED SITES REMEDIATED TO DATE

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SciDev Ltd | 1H FY24 Results

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1H FY24 Results Analysis

	1H FY22 (A$m)	1H FY23 (A$m)	1H FY24 (A$m)	% Change (vs PCP)
Operating Revenue	24.1	49.5	50.3	1%
Gross Profit	5.4	11.6	12.6	8%
Operating Expenses	5.8	9.1	9.4	3%
EBITDA Depreciation and Amortisation	(0.4) 1.0	2.5 1.5	3.2 2.0	29% 33%
Interest & Tax	0.3	1.0	1.1	10%
Net Profit (loss) after income tax	(1.8)	0.0	0.1

Revenue +1.5% on PCP, reflecting higher sales in the Water Technologies segment and slightly lower sales v PCP in Chemical Services. Q2 FY24 Revenue was significantly stronger than Q1.

Improved gross profit margin driven by high proportion of speciality chemistry sales and lower input costs

Record EBITDA, up 29% vs PCP reflecting growing operating leverage and scale in the business

Depreciation is higher reflecting the increased investment equipment for BOO projects which will be revenue generating in future periods

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SciDev Ltd | 1H FY24 Results

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Positive Operating Cashflow and Balance Sheet

Balance Sheet
				Lower receipts from customers, despite higher sales, reflects
				changes in the working capital cycle in Water Technologies
	1H FY23	1H FY24		and Energy Services. In the US business, the revenue cycle
	(A$m)	(A$m)		has increased due to longer completion times on larger projects.
Cash receipts from Customers	48.7	45.2
Payment to suppliers	46.3	44.1		Lower payments to suppliers despite increased sales reflects higher EBITDA, in particular higher margins in Chemical
Net cash from operating activities	2.3	0.5		Services along with working capital fluctuation.
				Cash outflow in the 12 months includes $1.6m payments for
				Haldon acquisition and $3.4m capex investment offset by
Cash and Cash equivalents	9.0	5.8		$3.1m in operating cash inflow.
Inventory	5.0	8.1		Inventory now includes $2.1m stock in transit due to changes in insurance arrangements (not included in PCP).

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SciDev Ltd | 1H FY24 Results

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Chemical Services

Engineered performance solutions to recycle, reuse and minimise water consumption in the Oil & Gas and Mining & Mineral Processing sectors.

What We Do Growth Opportunities

• •

• Development of Increasing clean water specialty chemistry requirements and products environmental

• • regulations

• These drive significant operational efficiencies and minimise

• Sustainability focus of industries driving greater awareness

• wastewater

• Ability to deliver greater scale and revenue driven by increased operational output

• The products are used as consumables during a process

How We Do It

• Development of new products

• Tailor made products to specific client use cases increasing competitive advantage

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Clients

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Chemical Services

A GROWING GLOBAL PRESENCE

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CatChek sales up 15% PCP

Acquired new E&P clients through increase acceptance of our proprietary technology – CatChek and XSlik

Received first purchase order for supply of MaxiFlox® chemistry to new distributors in Turkey and Mexico

Secured a two-year, $7m contract at the Thunderbird Minerals Sands Project

Awarded a contract to supply MaxiDry chemistry and services for a new tunnelling project in NSW, commencing in 4Q FY24.

Renewed a contract for R&D support through December 2026 with Qatar Shell GTL Ltd., a division of Royal Dutch Shell Group Inc

1H FY24 REVENUE VS 1H FY23

1H FY24 REVENUE

• 6%

$41m

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1QFY22 2QFY22 3QFY22 4QFY22 1QFY23 2QFY23 Q3FY23 Q4FY23 1QFY24 2QFY24

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SciDev Ltd | 1H FY24 Results

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Water Technologies

Specialised water treatment solutions that remove harmful contaminants from groundwater, surface water and industrial liquid waste.

Growth Opportunity

What We Do

• •

• Develop and deliver Increased global tailored permanent, regulation, is driving the temporary & mobile requirement for more water treatment systems effective treatment solutions

• Reduce waste, opex costs and minimise • Over 17,000 sites across environmental risk US & Europe have been identified as

How We Do It

Clients

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contaminated with PFAS

• Innovative water treatment technology

• Industry leading toolkit of PFAS treatment tech.

• Build Own Operate and Design & Construct commercial models

• Every PFAS project is different and requires a tailored approach

• Ability to target existing SciDev chemical services customer base

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Water Technologies

SET TO DELIVER IMPROVED PERFORMANCE IN 2H FY24

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1H Revenue up 57%

Commenced previously delayed PFAS projects in Queensland and New South Wales, with revenue contribution from the projects to grow in 2H FY24

Awarded $4.6m D&C a contract with Acciona Construction Australia Pty Ltd

Secured a $4.7m, two-year extension PFAS contract with a blue-chip Australian mining client, where FluorofIX has treated over one billion litres of PFAS-contaminated water to date

Secured purchase order from a blue-chip mining client in Western Australia for the supply and support of Water Quality Monitoring Systems into five operational mine sites.

Appointed a Vice-President – North America for Water Technologies responsible for implementing strategic initiatives to drive the growth of our Water Technologies vertical in the North American market.

1H FY24 REVENUE VS 1H FY23

1H FY24 REVENUE

$9m

+57%

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1QFY22 2QFY22 3QFY22 4QFY22 1QFY23 2QFY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24

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SciDev Ltd | 1H FY24 Results

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Our Technology

SciDev's innovative technical capability and proprietary technologies deliver real value to our clients

Chemical Services

SciDev continues to innovate and deliver a range of chemistry solutions to our clients that improve operational efficiency and minimise wastewater generation. Our proprietary solutions include:

MaxiFlox® - leading chemistry to the mining industry used in mineral recovery and tailings management

OptiFlox dosage control system to maximise the efficiencies of our chemistries in mineral processing applications

– CatChek shale stabiliser that inhibits pyrite oxidation, improving well decline curves and life cycle

Water Technologies

Designs and delivers specialised water treatment solutions to remove harmful contaminants from groundwater, surface water and industrial liquid waste.

FluorofIX Trademarked PFAS treatment, with performance guarantees, that has treated >3 billion litres of water to non-detect levels (0.0001μg/L)

RegenIX Proprietary IX resin regeneration technology that reduces treatment system costs and associated waste generation by minimising the IX resin replacement frequency

Xsilk620 – polymer suspension technology developed specifically for the US onshore shale sector

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SciDev Ltd | 1H FY24 Results

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PFAS Opportunity

SCIDEV TECHNOLOGY

A GLOBAL OPPORTUNITY

• FluorofIX and RegenIX a market leading PFAS treatment solution

• $250B addressable market

• PFAS are a family of man-made chemicals in use since 1950’s

• Fully commercialised, sustainable approach to tackle the global PFAS problem

• Contaminated sites include airports, defence bases, mines, fire & rescue stations and other industrial

• Removes high level PFAS to below the limit of detection

• Regulation increasing worldwide

• Short & long chain PFAS removal.

• Increased funding globally.

• Best in class for waste generation

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TARGET
Defence
SECTORS
Environmental Consultants
Construction and Infrastructure
Mining
Government
Aviation
Industrial
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SELECTED GLOBAL PFAS SITES

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SciDev Ltd | 1H FY24 Results

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FY24 Priorities

We continue to experience growing global demand for our Chemical Services and Water Technologies, which underpins our financial growth.

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Ongoing focus on the health and safety of all our employees

Increased market share in the global mining sector by delivering MaxiFlox® directly to new clients via direct sales, local licencing and partnership agreements & leveraging our Joint venture with Nuoer Chemicals

Continue to diversify our Oil and Gas industry client base as our proprietary CatChek and XSlik product lines gain increasing market acceptance

Deliver the Water Technologies’ current order book while improving operational efficiencies to enable sustainable growth

Utilising our proven technologies, FluorofIX and RegenIX , to secure and generate revenue across the significant North American PFAS pipeline, spanning the US Department of Defence and private industry

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Exploring opportunities to accelerate growth in Europe as PFAS regulations build in the region while also exploring leachate and industrial wastewater treatment opportunities to secure initial revenue

Continued execution of business development opportunities in the Construction sector both domestically and overseas.

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SciDev Ltd | 1H FY24 Results

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Appendix

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SciDev Ltd | 1H FY24 Results

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SciDev Snapshot

Corporate overview

ASX code	SDV
Market cap (at $0.26 per share)	A$50m
Shares on issue (at 21 NOV 2023)	189.8m

As at 31 December 2023

Major shareholders	% held
Board and Management	15%
Institutional	33%
Retail	52%

As at 31 December 2023

S C I D E V B O A R D

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SimoneWatt

Vaughan Busby SimoneWatt Jon Gourlay Dan O’Toole Heath Roberts Non-executive Non-executive Non-executive Non-executive Company Chair Director Director Director Secretary

S C I D E V E X E C U T I V E L E A D E R S H I P T E A M

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Seán Halpin
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Seán Halpin Anna Hooper SarahStewart Chief Executive Chief Financial Head of Officer Officer Marketing & CX

Ollie Kelly Head of People & Culture

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John Wilson

John Wilson Quinn Smith Vice President, Vice President Water Technologies, Water Technologies, Europe America

Jamiel Muhor Head of Chemical Services, APAC

Chris Dartez

Todd Placek Head of Water Technologies, APAC

President Chemical Services, North America

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SciDev Ltd | 1H FY24 Results

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MaxiFlox® - Mineral Sands Tailings

THE PROBLEM

Flocculant usage and overall treatment costs were the second largest on-site consumable spend

THE CHALLANGE

• Process water quality with high salinity levels, adversely impacting the dissolution proprieties of the polymer and inhibiting its effect

• Feed variations due to the variable ore body

THE SOLUTION

MaxiFlox® 550R was designed to operate in highly saline water and with short hydration times. Highly effective in both the thickener and co-disposal processes, this new chemistry offered a more stable solution for our client.

We also identified the need for a defined dilution program to be implemented utilising the available thickener, turbodil. By targeting optimum feed solids in the feed well, we reduced the required dosage of MaxiFlox® 550R by about 50%, delivering additional cost savings to our client.

THE OUTCOME

• 30% reduction on overall flocculant dosage, decreasing operating costs.

• Technological developments that streamline their systems and deliver efficiencies at each process stage.

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• .

• Increased return water, improved water quality and processing time

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SciDev Ltd | 1H FY24 Results

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FluorofIX - PFAS Contaminated Surface Water

THE PROBLEM

A blue-chip Australian mining client had issues with surface water contaminated by per- and polyfluoroalkyl substances (PFAS) at one of their operations. The source of contamination was due to the historical usage of Aquas Film Forming Foam (AFFF) for fire suppression and training activities.

THE CHALLANGE

• PFAS contamination was widespread across the mine site due to water reuse methods, including haul road dust suppression, that had been employed for decades.

• Given the site’s proximity to a primary drinking water catchment and the risk of PFAS contamination impacting the drinking water supply of a densely populated urban area, a highly conservative approach was adopted by the regulator when determining the environmental discharge criteria.

THE SOLUTION

• SciDev designed, constructed and is currently operating a water treatment plant capable of treating PFAS-impacted water under the most stringent controls used nationally in the treatment of PFAS.

• This plant was the first PFAS treatment plant to treat to these levels at full scale under the governance of the Department of Water, Environment and Regulation.

THE OUTCOME

• More than one billion litres of contaminated water successfully treated to date

• First treatment plant to treat to below 0.0002μg/L sum of PFAS at commercial scale

• Construction and commissioning of the water treatment plant was completed in less than 40 days from contract award due to on-site operational requirements

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• By-product waste generated at 0.018%, all of which was able to be disposed of as general landfill.

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Contact

CHIEF EXECUTIVE OFFICER

Seán Halpin +61 (0) 2 9622 5185

INVESTOR RELATIONS

Craig Sainsbury

craig.sainsbury@automicgroup.com.au +61 (0) 428 550 499

www.scidevltd.com

SciDev Ltd | 1H FY24 Results

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Important Information

This presentation has been prepared by SciDev Ltd (SciDev) based on information available to it as at the date of this presentation. The information is provided in summary form and does not contain all information necessary to make an investment decision. Hence, no representation is made as to the accuracy, completeness or reliability of the information.

In addition, neither SciDev nor any of its subsidiaries, directors, employees, shareholders nor any other person shall have liability whatsoever to any person for any loss, including without limitation from any fault or negligence arising from this presentation or any information supplied in connection with it. This presentation may contain forward-looking statements and projections. These reflect SciDev’s current expectations, based on what it believes to be reasonable assumptions.

SciDev gives no warranty or representation as to its future financial performance or any future matter. Except as required by law or ASX listing rules, SciDev is not obliged to update this presentation after its release, even if matters change materially.

This presentation does not constitute financial advice. Further, this presentation is not and should not be construed as an offer to sell or a solicitation of an offer to buy SciDev securities and may not be relied upon in connection with any purchase of SciDev securities.

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