SCIDEV LTD — Investor Presentation 2021

Mar 28, 2021

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Investor Update – Haldon Industries Acquisition Lewis Utting MANAGING DIRECTOR & CHIEF EXECUTIVE OFFICER

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Making
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Harder

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SCIDEV | INVESTOR PRESENTATION

Making water work harder

SciDev solves operational and environmental issues relating to water across multiple global industrial markets.

Our products and services are backed by expert support from our highly experienced team.

SERV ICES

I NDUSTR Y

Chemistry Professional Services Engineering & Process Control

Mining & Mineral Processing Oil & Gas Infrastructure & Construction

Water & Wastewater

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Rheology Friction
Modifiers Reduction
Defoamers Completion
Fluids
SciDev
Antiscalents Ç√ Drilling
Products Fluids
Dust
Floculants
Suppressants
Coagulants
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SciDev’s
1H FY21:
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1HFY21 REVENUE A$18.3m

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REVENUE GROWTH VS PCP
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+300% YOY

CASH AT BANK (31 DEC 2020) A$7.1m

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SCIDEV | INVESTOR PRESENTATION

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Mining & Mineral Infrastructure Water & Oil & Gas Processing & Construction Wastewater SciDev SciDev is an industry Engineered Reduce costs and Leading supplier of Solutions leader in solids-liquid performance solutions operational downtime treatment and products separation in the to recycle, reuse and in the infrastructure for the industrial, F&B, mining and mineral minimise oilfield water and construction and municipal water processing sector. waste. sectors. sectors. US $2bn US $2bn US $1bn US $6bn Addressable Market Global mineral Specialty and Infrastructure Municipal and processing chemistry production chemical and construction industrial water market. market in US dewatering chemistry treatment market. oil and gas industry. market. 1H FY21 Annualised A$14m A$14m A$6m *A$2m Revenue * Does not include future Haldon Industries contributions

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SCIDEV | INVESTOR PRESENTATION

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Haldon Industries

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Deal Rationale

Haldon provides SciDev with presence and scale in the infrastructure and water & waste water verticals.

Access Diversification Leverage to the growing Poly of revenue streams in the complementary Fluoroalkyl Substances terms of geography, engineering skill set ( PFAS ) market with customer base , supply and technology to deeper exposure to chain and end drive further business Water Treatment and commodity exposure across all SciDev Construction sectors segments Utilise People & Culture Growth SciDev’s alignment between opportunities to manufacturing and the groups. Haldon will leverage Haldon supply chains to provide additional 20 technology though provide direct skilled personnel to SciDev’s international chemical sales to drive solutions for footprint and existing Haldon’s customers customers customer base

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SCIDEV | INVESTOR PRESENTATION

Haldon operates in 4 verticals that will all come under the SciDev Water Segment

Australian based

environmental engineering and solutions company

Provides SciDev with presence and scale in the infrastructure and water & wastewater verticals

Haldon are high growth with positive EBITDA and cashflow

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Water Treatment

The provision of mobile water treatment plants for contaminated groundwater, landfill leachate, industrial waste and construction water.

Groundwater dewatering

Management of groundwater and surface water across a range of industries including construction and infrastructure.

Remediation

Removal of contaminants including heavy metals, ammonia, hydrocarbons, nutrients and PFAS.

Liquid waste

Onsite liquid waste treatment services ranging from oil and water separation to the treatment of multifaceted waste streams.

SCIDEV | INVESTOR PRESENTATION

Per and Polyfluoroalkyl substances ( PFAS ) are a family of human-made chemicals

Ability of PFAS to remain intact in the environment results in increasing levels of contamination

PFAS contaminated soil presents major excavation and soil management challenges in large scale construction and infrastructure projects

PFAS Treatment

▪ Haldon has been successful in creating significant value in the growing market for treating PFAS with . internally developed IP

PFAS have become a growing issue in large mining, construction and infrastructure projects in Australia and across the globe .

▪

Haldon approaches their solution to PFAS in a similar manner to how SciDev approaches their clients - every project is different and requires a tailored approach. This drives efficiency .

▪

▪ Haldon designed and developed robust PFAS treatment strategy considers all variables and outcomes. Removal rates being achieved with Haldon clients are currently the most efficient in the country, to residual levels that are below existing detection limits.

▪ Significant ability for SciDev to deliver a full treatment solution to major infrastructure and construction projects on their water treatment and PFAS remediation requirements

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SCIDEV | INVESTOR PRESENTATION

Unique Value Proposition – Waste Volume Reduction

Haldon’s PFAS technology works better with water with low solid levels

SDV’s Maxiflox Chemistry separates the solid particles and provides a clean feed liquid to the Haldon process

Haldon specialise in the provision of technology to remove liquids from liquids which are residual

pollutants such as heavy metals or organic compounds

Initial waste volume Competitor's equates to 8 Olympic technology reduces sized pools waste to 9 B-double trucks

Haldon technology reduces the volume into just 2 hot tubs of waste

Less Waste

Combination of SDV and Haldon will produce 99% less liquid waste vs peer processes

The combination of SDV and Haldon technology can reduced waste water by ~ 20,000 times. Other commercial technology only delivers a ~200 times reduction

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Solid - Liquid Separation Liquid - Liquid Separation
PFAS Feed Physical cost
Site tank filtration
Short chain Organic
SDV Maxiflox
PFAS removal separation
Chemistry is added
to PFAS
contaminated liquid
Long chain PFAS
to separate solids Haldon IP
removal
Centrifuge Discharge
processing tank
Solid waste Liquid Water to be reused Discharge
in dust suppression to the
and irrigation environment
Disposal
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Reduced cost

Less waste volume reduces the disposal cost of the contaminant

Reuse of water

Water from the Haldon process can be reused in areas such as irrigation and dust suppression reducing the environmental footprint of the process

SCIDEV | INVESTOR PRESENTATION

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Strong historical growth domestically in Australia funded through cashflow

Haldon Financial Overview[1]

Strong Revenue Growth

A$m Revenue	FY18 3.54	FY19 FY20 4.95 8.13
Gross Profit	2.28	2.43 5.44
Reported EBITDA	1.22	0.38 3.11
EBITDA Margin (%)	34.6%	7.7% 38.2%

Proforma[2] 1H21 revenue split

SDV 1H21 revenue split

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Mining Oil&Gas Infrastructure Water

Mining Oil&Gas Infrastructure Water

+129%

Ove r pas t 2 ye ar s

Gross Profit Margin +60% EBITDA Margin +28%

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1 - Haldon Indus tr ie s Ove r vie w on an unaudite d Cas h Ac c ounting Bas is 2 - As s ume s SDV 1HFY 21 r e ve nue plus 6 month c ontr ibution fr om Haldon Indus tr ie s , fully alloc ate d to the wate r ve r tic al.

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SCIDEV | INVESTOR PRESENTATION

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Earnout cash payments to be funded by Haldon delivered cashflow over the period

Deal Summary

	Earnout Stage	Earnout Target	Max Cash Payment	Target Cash Payment Equity Target Total
	Completion	N/A	A$1.70m1	A$1.70m1 $4.33m2 A$6.03m
		FY21 EBITDA with a target of A$3.42m
	Earnout 1	with EBITDA at a Minimum 20% of Revenue	A$3.60m	A$2.4m - A$2.4m
	Earnout 2	FY22 EBITDA with a target of A$4.50m with EBITDA at a Minimum 20% of Revenue	A$3.62m	A$2.41m - A$2.41m
		FY23 EBITDA with a target of
	Earnout 3	A$5.40m with EBITDA at a Minimum	A$3.62m	A$2.41m - A$2.41m
		20% of Revenue
	Company acquisition cost		A$12.54m	A$8.92m A$4.33m A$13.25m
	Asset Lease	Leased assets from Haldon over the Period	A$5.0m	A$5.00m

Upfront Equity at $0.80/ps

+14% 30 day VWAP

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P/E Multiple
3
6x
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1 – Subje c t to s tandar d wor king c apital adjus tme nt me c hanis ms upon c omple tion

2 – SDV e quity c alc ulate d at $0.80 with 24 month e s c r ow 3 – P/E multiple inc or por ate s le as ing fe e s

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SCIDEV | INVESTOR PRESENTATION

Outlook

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F O C U S S I N G O N
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SCIDEV | INVESTOR PRESENTATION

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The market opportunity
THE MARKET
& competitive landscape
COMPETITION US$100bn
SciDev is focused on fine particle separation chemistry
Global Commodity
(colloid chemistry), which is a US$11 billion sector within the Chemistries
broader US$100bn global commodity chemistry market.
US$40bn
SciDev has significant opportunity for growth.
Global Solid Separation
Our current operational footprint is as follows:
Chemistry Market
US$11bn
Colloid
SERVICING ACTIVE ON ACTIVE ON ACTIVE ON Chemistry
Market
2km <1% >14
6/195
Global TBM Slurry Rigs in the US Mine sites Water processing
market 500km shale industry globally sites globally
SCIDEV | INVESTOR PRESENTATION
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REVENUE
0 – 3 M O N T H S 3 – 6 M O N T H S 6 – 1 2 M O N T H S
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ONG OING
REVENUE
1 2 – 1 8 M O N T H S
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Project
Targeting
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Professional Services Development & Tender

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Field
Validation
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Product & Service
Review
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Commercial
Contract
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Recent Field Validation Work

Recent Significant Contract Wins

Syncrude

Field qualification at one of Canada’s largest oil sands producers

Shell

Secondment of HFT staff to Shell to provide product development support

How We Win

BHP

Field validation at Olympic Dam copper mine

OZ Minerals

Provision of chemistry for Prominent Hill copper mine

Exxon Mobil

US$0.5m deal for provision of lightweight drilling fluid

Melbourne Metro

Provision of chemistry and professional services on Melbourne Metro Tunnel

FMG

1 week trial at the Solomon Hub iron ore operation

Iluka

3-year contract at Jacinth Ambrosia minerals sands operation

BP

Field qualification of inhouse developed oilfield completion fluid

Eramet

18 month supply contract for New Caledonian operations

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SCIDEV | INVESTOR PRESENTATION

Outlook

SciDev has a strong growth pipeline and is well positioned to deliver sustainable growth in solid-liquid separation.

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SAFETY REVENUE RELATIONSHIP
Ongoing focus on the Continued focus on Progress commercial
health and safety of increasing sales and discussions post field
all our employees cash conversion in all validation of SciDev
regions chemistry
TECHNOLOGY SECTOR GROWTH
Continue discussions Capitalise on our Ongoing assessment
with technology position in the North of strategic growth
partners in North American oil and gas opportunities globally
America and Europe sector
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29/03/2021
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SCIDEV | INVESTOR PRESENTATION

A ppendix

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T H E I N F O Y O U
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SCIDEV | INVESTOR PRESENTATION

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SciDev Snapshot

Corporate overview
ASX code	SDV
Market cap (at $0.73 per share)	$112m
Shares on issue	153m
Cash at bank	$7.1m1
Working capital facility	$7.9m2

Major shareholders3	% held
Nuoer Group	6%
Board and Management	8%
Institutional	21%
Retail	65%

Nuoer Group: Leading chemical company. SciDev has exclusive marketing rights in Oceania and support globally for key target end users and industries

1) As at 31 December 2020

• 2) Drawn $1.1m at 31 December 2020

3) As at 2 November 2020

SCID EV B OARD

Trevor Jones Lewis Utting Simone Watt Jon Gourlay Dan O’Toole Heath Roberts CHAIRMAN CHIEF EXECUTIVE NON-EXECUTIVE NON-EXECUTIVE NON-EXECUTIVE COMPANY OFFICER & MANAGING DIRECTOR DIRECTOR DIRECTOR SECRETARY DIRECTOR

EXECUTIVE M ANAG EM ENT TEAM[1]

John Fehon Craig McCloskey Kevin Smith Jamiel Muhor Jeffrey Zhiang Ben Gill CFO INTEGRATION PRESIDENT BUSINESS MARKETING TECHNICAL DIRECTOR NORTH DEVELOPMENT & STRATEGY DIRECTOR AMERICA DIRECTOR

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SCIDEV | INVESTOR PRESENTATION

Financial Highlights

Record cash receipts of A$15.8m in 1H FY21

1H FY21 annualised revenue of greater than A$36m

• $0.6m Net Profit in 1H FY21

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1H FY21 1HFY21 1H FY21
REVENUE REVENUE VS PCP GROSS PROFIT
A$18.3m +300% 23%
$10.2
$9.4
$8.9
$8.1
$7.3
$5.7 $5.5 $5.6
$4.4
$2.2
$1.7
$1.5
$1.1
$0.6 $0.5 $0.7 $0.8 $0.8 $0.5 $0.8
1Q FY19 2Q FY19 3Q FY19 4Q FY19 1Q FY20 2Q FY20 3Q FY20 4Q FY20 1Q FY21 2Q FY21
Cash Receipts (A$m) Revenue (A$m)
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SCIDEV | INVESTOR PRESENTATION

Important Information

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SCIDEV | INVESTOR PRESENTATION

Contact

CEO & MD

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www.scidev.com.au

Lewis Utting

(+61) 2 9622 5185

INVESTOR RELATIONS Craig Sainsbury craig.sainsbury@marketeye.com.au 0428 550 499