L itig a tio n Ca pita l Ma na g e me nt L td 2018 F ull Ye a r Re sults Pre se nta tio n 20 Aug ust 2018 Pa tr ic k Molone y Chie f E xe c utive Offic e r
I mpo rta nt I nfo rma tio n No re c omme ndation, offe r, invitation or advic e T his p re se nta tio n c o nta ins g e ne ra l info rma tio n a b o ut the a c tivitie s o f L itig a tio n Ca p ita l Any fo rwa rd -lo o king sta te me nts, inc lud ing p ro je c tio ns, g uid a nc e o n future re ve nue s, Ma na g e me nt L imite d ( L CA ) whic h is c urre nt a s a t 20 Aug ust 2018. It is in summa ry fo rm e a rning s a nd e stima te s, a re p ro vid e d a s a g e ne ra l g uid e o nly a nd sho uld no t b e re lie d a nd d o e s no t p urp o rt to b e c o mp le te . I t p re se nts fina nc ia l info rma tio n o n b o th a up o n a s a n ind ic a tio n o r g ua ra nte e o f future p e rfo rma nc e . Fo rwa rd -lo o king sta tuto ry b a sis, p re p a re d in a c c o rd a nc e with Austra lia n a c c o unting sta nd a rd s whic h sta te me nts invo lve kno wn a nd unkno wn risks, unc e rta intie s a nd o the r fa c to rs tha t ma y c o mp ly with I nte rna tio na l F ina nc ia l Re p o rting Sta nd a rd s ( IF RS ) a s we ll a s info rma tio n c a use L CA’ s a c tua l re sults, p e rfo rma nc e o r a c hie ve me nts to d iffe r ma te ria lly fro m a ny p ro vid e d o n a no n-I FRS b a sis. T his p re se nta tio n is no t a re c o mme nd a tio n o r a d vic e in future re sults, p e rfo rma nc e o r a c hie ve me nts e xp re sse d o r imp lie d b y the se fo rwa rd - re la tio n to L CA o r a ny p ro d uc t o r se rvic e o ffe re d b y L CA’ s sub sid ia rie s. lo o king sta te me nts. T his p re se nta tio n is no t inte nd e d to b e re lie d up o n a s a d vic e to inve sto rs o r p o te ntia l Inve stme nt risk inve sto rs, a nd d o e s no t c o nta in a ll info rma tio n re le va nt o r ne c e ssa ry fo r a n inve stme nt Any inve stme nt in L CA se c uritie s is sub je c t to inve stme nt a nd o the r kno wn a nd d e c isio n. It sho uld b e re a d in c o njunc tio n with L CA’ s o the r p e rio d ic a nd c o ntinuo us unkno wn risks, so me o f whic h a re b e yo nd the c o ntro l o f L CA. Any fo rwa rd -lo o king d isc lo sure a nno unc e me nts file d with the Austra lia n Se c uritie s E xc ha ng e , a nd in sta te me nts, o p inio ns a nd e stima te s in this p re se nta tio n a re b a se d o n a ssump tio ns a nd p a rtic ula r the Full Ye a r Re sults fo r the F ull Ye a r to 30 June 2018. T he se a re a lso a va ila b le c o nting e nc ie s whic h a re sub je c t to c ha ng e witho ut no tic e , a s a re sta te me nts a b o ut a t http :/ / www.lc mfina nc e .c o m. I nve sto rs a nd p o te ntia l inve sto rs sho uld ma ke the ir ma rke t a nd ind ustry tre nd s, whic h a re b a se d o n inte rp re ta tio ns o f c urre nt ma rke t o wn ind e p e nd e nt a sse ssme nt o f the info rma tio n in this p re se nta tio n a nd o b ta in the ir c o nd itio ns. F o r e xa mp le , the fa c to rs tha t a re like ly to a ffe c t the re sults o f L CA inc lud e , o wn ind e p e nd e nt a d vic e fro m a q ua lifie d a d vise r ha ving re g a rd to the ir o b je c tive s, b ut a re no t limite d to , g e ne ra l e c o no mic c o nd itio ns in Austra lia , e xc ha ng e ra te s, fina nc ia l situa tio n a nd ne e d s b e fo re ta king a ny a c tio n. c o mp e titio n in the ma rke ts in whic h L CA o p e ra te s o r ma y o p e ra te a nd the inhe re nt re g ula to ry risks in the b usine sse s o f L CA. Ne ithe r L CA, no r a ny o the r p e rso n, g ive s a ny re p re se nta tio n, a ssura nc e o r g ua ra nte e tha t the o c c urre nc e o f the e ve nts e xp re sse d Disc laime r o r imp lie d in a ny fo rwa rd -lo o king sta te me nts in this p re se nta tio n will a c tua lly o c c ur. I n No re p re se nta tio n o r wa rra nty, e xp re ss o r imp lie d , is ma d e a s to the a c c ura c y, a d d itio n, p le a se no te tha t p a st p e rfo rma nc e is no g ua ra nte e o r ind ic a tio n o f future a d e q ua c y o r re lia b ility o f a ny sta te me nts, e stima te s o r o p inio ns o r o the r info rma tio n p e rfo rma nc e . c o nta ine d in this p re se nta tio n. T o the ma ximum e xte nt p e rmitte d b y la w, L CA, its sub sid ia rie s a nd the ir re sp e c tive d ire c to rs, o ffic e rs, e mp lo ye e s a nd a g e nts d isc la im a ll lia b ility a nd re sp o nsib ility fo r a ny d ire c t o r ind ire c t lo ss o r d a ma g e whic h ma y b e Jurisdic tion suffe re d b y a ny re c ip ie nt thro ug h use o f o r re lia nc e o n a nything c o nta ine d in o r T his p re se nta tio n d o e s no t c o nstitute a n o ffe r to issue o r se ll, o r so lic ita tio n o f a n o ffe r to o mitte d fro m this p re se nta tio n. No re c o mme nd a tio n is ma d e a s to ho w inve sto rs b uy, a ny se c uritie s o r o the r fina nc ia l p ro d uc ts in a ny jurisd ic tio n. T he d istrib utio n o f this sho uld ma ke a n inve stme nt d e c isio n. I nve sto rs must re ly o n the ir o wn e xa mina tio n o f p re se nta tio n o utsid e Austra lia ma y b e re stric te d b y la w. Any re c ip ie nt o f this L CA, inc lud ing the me rits a nd risks invo lve d . I nve sto rs a nd p o te ntia l inve sto rs sho uld p re se nta tio n o utsid e Austra lia must se e k a d vic e o n a nd o b se rve a ny suc h re stric tio ns. c o nsult with the ir o wn p ro fe ssio na l a d viso rs in c o nne c tio n with a ny inve stme nt d e c isio n T his p re se nta tio n ma y no t b e re p ro d uc e d o r p ub lishe d , in who le o r in p a rt, fo r a ny in re la tio n to L CA se c uritie s. p urp o se witho ut the p rio r writte n p e rmissio n o f L CA. F orward looking state me nts T his p re se nta tio n d o e s no t c o nstitute a n o ffe r to se ll, o r a so lic ita tio n o f a n o ffe r to b uy, T he info rma tio n in this p re se nta tio n is fo r g e ne ra l info rma tio n o nly. T o the e xte nt tha t a ny se c uritie s in the Unite d Sta te s. Any suc h se c uritie s ha ve no t b e e n, a nd will no t b e , c e rta in sta te me nts c o nta ine d in this p re se nta tio n ma y c o nstitute “fo rwa rd -lo o king re g iste re d und e r the U.S. Se c uritie s Ac t o f 1933 (Se c uritie s Ac t), o r the se c uritie s la ws o f sta te me nts” o r sta te me nts a b o ut “ future ma tte rs”, the info rma tio n re fle c ts L CA’ s inte nt, a ny sta te o r o the r jurisd ic tio n o f the Unite d Sta te s a nd ma y no t b e o ffe re d o r so ld , b e lie f o r e xp e c ta tio ns a t the d a te o f this p re se nta tio n. Sub je c t to a ny c o ntinuing d ire c tly o r ind ire c tly, in the Unite d Sta te s o r to , o r fo r the a c c o unt o r b e ne fit o f, p e rso ns o b lig a tio ns und e r a p p lic a b le la w o r a ny re le va nt listing rule s o f the Austra lia n Se c uritie s in the Unite d Sta te s, e xc e p t in a tra nsa c tio n e xe mp t fro m, o r no t sub je c t to , re g istra tio n E xc ha ng e , L CA d isc la ims a ny o b lig a tio n o r und e rta king to d isse mina te a ny up d a te s o r und e r the Se c uritie s Ac t a nd a p p lic a b le US sta te se c uritie s la ws. re visio ns to this info rma tio n o ve r time . 2
Re sults Hig hlig hts Ro bust pe r fo r manc e in F Y18 is the r e sult o f the me tho do lo gy e mplo ye d by L CM o ve r past 3-5 ye ar s, inc luding r igo r o us due dilige nc e , ac tive manage me nt o f inve stme nts and c o ntinuity o f the te am. F Y18 F Y17 Cha ng e Pro je c t c o mple tio ns drive re c o rd re sults Pr o fit/ (loss) be fo r e tax $12.0m ($2.9m) 518% Six L itig a tio n Pro je c ts c o mple te d, c o mpa re d to two in F Y17 Statuto r y NPAT $8.6m ($2.3m) 469% Pro je c ts Co mple te d: re c e ive d $29.2m re ve nue c o ntrib uting $16.0m E BIT DA a t ROI C $12.0m ($2.9m) 518% Cash NPAT o f 137% Sta tuto ry NPAT o f $8.6m a fte r pro viding fo r 41% - N/ A Re tur n o n E quity de fe rre d ta x mo ve me nts o f $3.3m (e xpe nse ), 80% 480% c o mpa re d to a Sta tuto ry L o ss in F Y17 o f $2.3m IRR¹ a fte r de fe rre d ta x mo ve me nts o f $0.5m 137% 276% ROIC (b e ne fit) Pro c e e ds a re b e ing re inve ste d to drive future $29.2m $3.4m 754% Gr oss Re ve nue g ro wth. Ca pita l de plo ye d o f $14.6m during F Y18, c o mpa re d with $7.2m in F Y17 $14.6m $7.2m 103% Capital de ploye d re pre se nting a n inc re a se o f 103% Ne t asse t bac king pe r shar e Ac tive ly pursuing o ptio ns fo r furthe r c a pita l to 45.1 29.5 53% (c e nts) suppo rt g ro wth Basic E ar nings pe r Shar e (c e nts) 15.24 (5.01) 404% Ra ng e o f so urc e s inc lude ma na g e d funds, de b t a nd whe re a ppro pria te , a dditio na l e q uity ¹Running I RR fo r c o mple te d pro je c ts fo r 7 ye ars is 83% 3
F ina nc ia l Re sults 4
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