Capit ital D l Drillin lling Corporate Presentation September 2016
Discl claimer IMPORTANT NOTICE This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of Capital Drilling Ltd. (the “Company”), nor shall any part of it nor the fact of its • distribution form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the securities of the Company. This document is being supplied to you solely for your information. No reliance may be placed for any purposes whatsoever on the information or opinions contained in this document or on its completeness. No representation or warranty, • express or implied, is given by or on behalf of the Company or any of its directors, officers or employees or any other person as to the accuracy or completeness of the information or opinions contained in this document and no liability whatsoever is accepted by the Company or any of its members, directors, officers or employees nor any other person for any loss howsoever arising, directly or indirectly, from any use of such information or opinions or otherwise arising in connection therewith. This document and its contents are confidential and may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published, in whole or in part, for any purpose. This document is only addressed to and directed • at persons in member states of the European Economic Area who are “qualified investors” within the meaning of Article 2(1)(e) of the Prospectus Directive (Directive 2003/71/EC) (“Qualified Investors”). In addition, in the United Kingdom, this document is being distributed only to, and is directed only at, Qualified Investors (i) who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) and Qualified Investors falling within Article 49(2)(a) to (d) of the Order, and (ii) to whom it may otherwise lawfully be communicated (all such persons together being referred to as “relevant persons”). This document must not be acted on or relied on (i) in the United Kingdom, by persons who are not relevant persons, and (ii) in any member state of the European Economic Area other than the United Kingdom, by persons who are not Qualified Investors. Any investment or investment activity to which this document relates is available only to (i) in the United Kingdom, relevant persons, and (ii) in any member state of the European Economic Area other than the United Kingdom, Qualified Investors, and will be engaged in only with such persons. Neither this document nor any copy of it may be taken or transmitted into the United States of America, its territories or possessions or distributed, directly or indirectly, in the United States of America, its territories or possessions. Neither this • document nor any copy of it may be taken or transmitted into Australia, Canada, Japan or the Republic of South Africa or to any securities analyst or other person in any of those jurisdictions. Any failure to comply with this restriction may constitute a violation of United States, Australian, Canadian, Japanese or South African securities law. The distribution of this document in other jurisdictions may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. The securities mentioned herein have not been, and will not be, registered under the US Securities Act of 1933 (the “Securities Act”), or under the applicable securities laws of Canada, Australia, Japan or the Republic of South Africa, and may not • be offered or sold in the United States (as such term is defined in Regulation S under the Securities Act) unless they are registered under the Securities Act or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and, subject to certain exceptions, may not be offered or sold within Canada, Australia, Japan or the Republic of South Africa or to any national, resident or citizen of Canada, Australia, Japan or the Republic of South Africa. No public offer of securities in the Company is being made in the United States, Canada, Australia, Japan or the Republic of South Africa. Certain statements, beliefs and opinions in this document are forward-looking, which reflect the Company’s or, as appropriate, the Company’s directors’ current expectations and projections about future events. By their nature, forward-looking • statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. Forward-looking statements contained in this document regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not place undue reliance on forward-looking statements, which speak only as of the date of this document. By attending the presentation to which this document relates or by accepting this document you will be taken to have represented, warranted and undertaken that: (i) you are a relevant person (as defined above); (ii) you have read and agree to • comply with the contents of this notice; and (iii) you will use the information in this document solely for evaluating your possible interest in the Company and for no other purpose. 2
Sec ecti tion 1 1 – Introd oduction on 3
Introducing Capital D Drilling SERVICES OVERVIEW STRATEGIC FOCUS Cap apital D l Drill illin ing p provid ides Exploration & delineation drilling Mineral drilling company Emerging markets focussed - Africa complete d drillin illing • • • c90% of revenue Grade Control drilling Commenced operations in Tanzania in • • solutions to to 2005 Blue chip and mid tier clients • Blast hole drilling, including shot firing • services Listed on LSE in 2010 Long term production contracts customer ers within • • Underground drilling Headquartered in Mauritius Gold and base metals focus • • • the g glob lobal min inerals ls industry REVENUE BY CUSTOMER REVENUE BY CUSTOMER REVENUE BY PHASE MAJOR CUSTOMERS Acacia Mining • AngloGold Ashanti • Barrick Gold Corporation • 83% Centamin 52% 83% • 92% 40% 12% 1H 2016 Freeport (Rakita) 1H 2016 • 5% Kinross Gold • 8% 4 Majors Mid-Tiers Juniors Production Brownfields Greenfields 4
Clien ent Hi Histor ory Serbia Armenia Dundee Lydian Pakistan Egypt Antofagasta Barrick Gold Mauritania Gippsland Thani Dubai Redblack (AngloGold Ashanti) Eritrea Knight Piesold Ethiopia Mali Andiamo Chalice Gold BHP Billiton Ghana Sunridge Ethiopia Potash Kenya Kinross DRC PNG & Solomon Islands Anvil Allied Gold Tanzania Peru Tiger Barrick Gold Barrick Gold Oil Search BHP Zambia Cradle Santa Barbara Albidon Glencore Barrick Gold IMX Mozambique Botswana Chile Equinox Liontown Boabab First Quantam Magnis Antofagasta Riversdale MMG Mantra BHP Rio Tinto Omega MMG CMP Rift Valley Glencore MMG Polar Star 2016 Active Locations Regional Offices Previous Registered Offices & Operations 5
Ri Rig g Flee eet DIAMOND (EXPLORATION & DELINEATION) BLAST HOLE Number of rigs Number of rigs 56 21 Average contract length Average contract length 3 months to 1 year 4 to 5 years 1H16 utilisation 1H16 utilisation 10% 94% REVERSE CIRCULATION (RC) & GRADE CONTROL (GC) UNDERGROUND Number of rigs Number of rigs 14 4 Average contract length Average contract length 3 months to 1 year (RC) 1 year 4 to 5 years (GC) 1H16 utilisation 1H16 utilisation 50% 70% INDUSTRY LEADER IN EQUIPMENT STANDARDS AND FLEET AGE 6
Commod odity ty pric ices & & capit ital m l markets GOLD PRICE INDEX 1 BASE METALS 1 IRON ORE 1 1400 70 0.50 1350 65 0.40 Copper Nickel Zinc 1300 60 0.30 Gold price ($/oz) 55 1250 $/tonne 0.20 1200 50 0.10 45 1150 0.00 40 1100 -0.10 35 1050 30 1000 -0.20 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 1. Source: Bloomberg (as at 27 July 2016) EQUITY RAISINGS BY JUNIOR MINERS (USD$M) 2 3000 2500 2000 1500 1000 500 0 Sep-12 Dec-12 Mar-13 Jun-13 Sep-13 Dec-13 Mar-14 Jun-14 Sep-14 Dec-14 Mar-15 Jun-15 Sep-15 Dec-15 Mar-16 Jun-16 Australia Canada US Other 2. Source: Bloomberg IMPROVING MACRO CONDITIONS DRIVING AN IMPROVEMENT IN DEMAND 7
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