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Asx Information Memorandum 3 Arbn 604 316 690 9 May 2018

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Asx Information Memorandum 3 Arbn 604 316 690 9 May 2018 1 Supporting Australian Industry 2 ASX INFORMATION MEMORANDUM 3 ARBN 604 316 690 9 MAY 2018 4 Henderson 5 Newcastle 6 COMPANY OVERVIEW FRONT COVER IMAGES 1. Henderson facility (showing current development in white outline) 2. Optus Stadium (Infrastructure Sector) 3. Luerssen Offshore Patrol Vessels (Marine and Defence Sector) 4. Yandicoogina Sustaining Project (Metals and Minerals Sector) 5. Coniston Manifold Project (Oil and Gas Sector) 6. Newcastle facility THE MARKETS WE OPERATE IN COMPANY OVERVIEW COMPETITIVE STRENGTHS COMPANY HIGHLIGHTS CURRENT MAJOR PROJECTS OUTLOOK FUTURE STRATEGY ASX INFORMATION MEMORANDUM TABLE OF CONTENTS BOARD OF DIRECTORS Photo (L to R): Chong Teck Sin (Lead Independent Director), Douglas Chester (Independent Director), James Fitzgerald (Executive Chairman), Patrick Tallon (Chief Executive Officer), Kevin Deery (Chief Operating Officer), Wong Fook Choy Sunny (Independent Director) EXECUTIVE TEAM Justine Campbell Charles Sweeney Rodney Bowes Adam Goldsmith Chief Financial Officer EGM - Construction EGM - Proposals EGM - Commercial and Risk THE MARKETS WE OPERATE IN OIL AND GAS METALS AND MINERALS INFRASTRUCTURE MARINE AND DEFENCE WATER AND ENERGY COMPANY OVERVIEW We are an Australian based multi-disciplinary construction and heavy engineering provider, with major facilities in Henderson, WA and Newcastle, NSW and satellite offices in Broome, Darwin, Gladstone and Sydney, offering an integrated turnkey solution to the oil and gas, metals and minerals, infrastructure, marine and defence, water and energy markets. Fundamental to our strategy is our diverse range of capabilities that enables us to provide complementary in-house core competencies and services. We are focused on enhancing our future growth by embracing sound work ethics, innovation and technology, whilst at the same time providing outstanding service to all our clients. ELECTRICAL, STRUCTURAL, MECHANICAL HEAVY ENGINEERING MODULARISATION INSTRUMENTATION & & PIPING CONTROL SITE CIVIL WORKS MAINTENANCE PRECAST CONCRETE INDUSTRIAL INSULATION REFRACTORY OFFSHORE LOGISTICS ACCESS SOLUTIONS TRAINING COMPANY HIGHLIGHTS 18,000 200,000 Revenue, GP and NPAT (last 8 quarters) 16,000 180,000 160,000 14,000 140,000 12,000 120,000 10,000 100,000 8,000 80,000 Revenue 6,000 GP and NPAT GP 60,000 4,000 40,000 2,000 20,000 - - 2016 Q3 2016 Q4 2017 Q1 2017 Q2 2017 Q3 2017 Q4 2018 Q1 2018 Q2* GP $ NPAT $ Revenue Margin % (last 8 quarters) 16.0% 14.0% 12.0% 10.0% 8.0% 6.0% 4.0% 2.0% 0.0% 2016 Q3 2016 Q4 2017 Q1 2017 Q2 2017 Q3 2017 Q4 2018 Q1 2018 Q2* GP % NPAT % *Normalised for re-allocation of costs and include insurance claim proceeds. Revenue, GP and NPAT per year (since listing in 2012) FY2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 HY 2018 SGD (S$’000M) (S$’000M) (S$’000M) (S$’000M) (S$’000M) (S$’000M) (S$’000M) Revenue $329m $406m $434m $499m $397Mm $346m $320m Gross Profit $61m $70m $64m $62m $43m $37m $29m NPAT $30m $36m $35m $30m $17m $8m $10m FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 HY 2018 AUD (A$’000M) (A$’000M) (A$’000M) (A$’000M) (A$’000M) (A$’000M) (A$’000M) Revenue $253m $319m $375m $453m $392m $330m $303m Gross Profit $47m $55m $55m $56m $43m $35m $17m NPAT $23m $28m $30m $27m $17m $8m $10m COMPETITIVE STRENGTHS • Delivering small and key projects for our large • Innovative - success to date can be attributed to client base - established relationships with an its creative leadership, ability to embrace new extensive client base, many major blue chip ideas and challenging existing processes and companies in the markets we operate. practices. • Experienced Management Team - the board • Quality of Work - priding ourselves on producing a and executive team collectively have decades quality product, with a culture based on achieving of experience in the heavy engineering and excellence. construction industry - with a proven track record • Diversity - a diversified service offering with of delivering, sustainable growth and profitability. multi-disciplinary capabilities offering a turn-key • State-of-the-Art Facilities - strategically located solution to our clients. facilities are positioned in key Australian • Balance Sheet - a disciplined approach to regions, all of which support on-site activities. capital management with a solid balance sheet The Henderson facility is the largest modern underpinned by our significant investment in fabrication facility of its kind in Australia. property plant and equipment. CURRENT MAJOR PROJECTS PROJECT MARKET LOCATION Gruyere Gold Project* Metals and Minerals Kalgoorlie, WA Amrun Project Metals and Minerals Weipa, QLD Pinjarra Refinery Expansion Metals and Minerals Pinjarra, WA Pilgangoora Lithium Plant Metals and Minerals Pilgangoora, WA Jemena Northern Gas Pipeline Oil and Gas Tennant Creek, NT Ichthys CCPP Oil and Gas Darwin, NT Woodman Point Wastewater Treatment Plant* Water and Energy Henderson, WA Northwest Rapid Transit Infrastructure Sydney, NSW Offshore Patrol Vessels Marine and Defence Perth, WA *50 percent Joint Venture project OUTLOOK • Forecast capital spend in metals and NT minerals, oil and gas and infrastructure over $30b the next 10 years is very strong in Australia QLD $205b (A$800b). WA $190b • Targeting further involvement in future Naval SA Defence Acquisition Program. $58b • Tendering activity is strong across the NSW $205b sectors. • Positive order book providing solid platform - in excess of A$800M (as at March VIC $116b 2018). TOTAL ~AUD$800b • Positive about the medium to long-term outlook for the group. NOTE: Opportunities in regions across the markets we operate. According to the Australia Defence White Paper a further $195bn will be allocated over the following decade Source: BIS Sharpnel 2017 FUTURE STRATEGY We have established a comprehensive strategy to diversify through a broadening of services and extending reach into new markets. • continue to provide cost-effective, intelligent engineering solutions for our clients. • maintain disciplined approach to capital management. • further grow and expand our capabilities and secure work in the defence and water and energy markets. • complete construction of state-of-the-art shipbuilding and maintenance facility which will play a major role in the company’s long-term future, align with the Australian Government’s Defence Integrated Investment Program. • pursue other initiatives to advance long-term growth strategies that deliver sustainable earnings. Photo: Internal view of new $80million shipbuilding and maintenance facility - due for completion Q2, FY2019 This Information Memorandum has been prepared in connection with Civmec Limited’s application for admission to the Official List of the ASX. No offer of securities is being made pursuant to this Information Memorandum and this document is not a prospectus, investment statement, product disclosure statement or offer information statement. CIVMEC ASX INFORMATION MEMORANDUM TABLE OF CONTENTS 1. INVESTMENT OVERVIEW ........................................................................................................................ 7 1.1 Key Features of Business Model ....................................................................................................... 7 1.2 Key Strengths .................................................................................................................................... 7 1.3 Summary of Key Risks ...................................................................................................................... 7 1.4 Directors and Key Management ........................................................................................................ 9 1.5 Interests, Benefits and Related Party Transactions ........................................................................10 1.6 CDIs .................................................................................................................................................12 2. BUSINESS OVERVIEW ...........................................................................................................................13 2.1 Overview of Civmec .........................................................................................................................13 2.2 Operations .......................................................................................................................................13 2.3 Services ...........................................................................................................................................14 2.4 Projects ............................................................................................................................................19 2.5 People ..............................................................................................................................................22 2.6 Business and Operating Model .......................................................................................................24 2.7 Investment in Our People ................................................................................................................24 2.8 Corporate Strategy ..........................................................................................................................25 3. FINANCIAL INFORMATION ....................................................................................................................26 3.1 Introduction ......................................................................................................................................26
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