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Corporate Presentation May 2017 Disclaimer IMPORTANT NOTICE This - PowerPoint PPT Presentation

Corporate Presentation May 2017 Disclaimer 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


  1. Corporate Presentation May 2017

  2. Disclaimer 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

  3. Section 1 – Introduction 3

  4. Introducing Capital Drilling SERVICES OVERVIEW STRATEGIC FOCUS Cap apital D l Drill illin ing p provid ides Exploration drilling Mineral drilling company Africa and emerging markets complete d drillin illing • • • focussed (Africa c90% of revenue) Grade control drilling Commenced operations in Tanzania • • solutions to to in 2005 Blue chip and mid tier clients • Blast hole drilling • Listed on LSE in 2010 Long-term production contracts customer ers within • • Underground drilling • African focussed, headquartered in Gold and base metals focus • • the g glob lobal min inerals ls Technical services Mauritius • industry REVENUE BY CUSTOMER REVENUE BY CUSTOMER REVENUE BY MINING PHASE MAJOR CUSTOMERS Acacia Mining • AngloGold Ashanti • Barrick Gold Corporation 64% • 95% Centamin Production • and Mid tiers & Underground Majors Q1 2017 Kinross Gold • Q1 2017 Nevsun • Resolute • 4 Majors Mid-Tiers Juniors Production Development Exploration Underground 4

  5. Client History Serbia Dundee Armenia Lydian Pakistan Egypt Antofagasta Barrick Gold Mauritania Gippsland Thani Dubai Redblack (AngloGold Ashanti) Eritrea Knight Piesold Ethiopia Mali Andiamo Chalice Gold APM Ghana Sunridge BHP Billiton Kenya Ethiopia Potash Kinross DRC PNG & Solomon Islands Anvil Allied Gold Tanzania Peru Tiger Barrick Gold Barrick Gold Oil Search MRL BHP Zambia Cradle Santa Barbara Albidon Glencore Barrick Gold IMX Mozambique Chile Botswana Equinox Liontown Boabab First Quantam Magnis Antofagasta Riversdale MMG Mantra Barrick Rio Tinto Omega MMG BHP Rift Valley CMP Glencore MMG Polar Star Q1 2017 Active Locations Regional Offices 5 Previous Registered Offices & Operations

  6. Multi-year production contracts underpin revenue Egypt • Major contracts provide stable Commenced operations in 2005 underlying revenue stream • Blast hole, grade control & delineation drilling • • Drilling at long-life, low cash cost Contract renewed in 2015 and runs to • mine sites December 2020 • Potential for expansion opportunities in underground and increased brownfields exploration Tanzania Tanzania Commenced operations in 2006 Commenced operations in 2008 • • Blast hole, grade control, exploration, Blast hole and grade control drilling • • delineation and underground drilling Contract awarded in December • Contract renewed in 2015 and runs to 2015, runs to December 2019 • (under 2 nd year extension option) December 2020 Current operations Previous operations … c65% of of Foreca cast 2017 Rev even enue 6

  7. Rig Fleet DIAMOND (EXPLORATION & DELINEATION) BLAST HOLE Number of rigs Number of rigs 52 (12 deep hole) 23 Average contract length Average contract length 3 months to 1 year 4 to 5 years Q1-2017 utilisation Q1-2017 utilisation 31% 96% REVERSE CIRCULATION (RC) & GRADE CONTROL (GC) UNDERGROUND Number of rigs Number of rigs 13 5 Average contract length Average contract length 3 months to 1 year (RC) 1 year 4 to 5 years (GC) Q1-2017 utilisation Q1-2017 utilisation 68% 92% INDUSTRY LEADER IN EQUIPMENT STANDARDS AND FLEET AGE 7

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