Slide 1: Keybridge Capital Limited Full Year Results to 30 June 2015
| KEYBRIDG CAPITAL LIMITED Full Year Results to 30 June 2015 31 August 2015 Welcome. My name is Nicholas Bolton, Keybridge’s Managing Director, and | am pleased to present to you Keybridge’s financial results for the year ended 30 June 2015. This presentation addresses the present status of Keybridg
Slide 2: Summary
Summary = Net profit after tax of $0.968 million = Final fully franked dividend declared of 0.25 cents per share = Including the 0.25 cents per share interim dividend - total dividends of 0.50 cents per share paid for the year = $3.832 million of investment realisations from difficult assets = Compl
Slide 3: Profitability
Profitability 2015 2014 $000 $000 Income 3,554 1,886 Operating Costs (3,496) | (2,776) Recovery Costs (1,000) | (1,432) Borrowing Costs (27) (1) Pre Tax Operating (loss) (969) (2,323) Foreign Exchange Gain 1,194 81 Bargain Purchase Gain - 23 Net (reversal)/ impairments 915 (549) Income Tax (172) (15
Slide 4: Profitability
Profitability 2015 1H 2H Total $000 $000 $000 Income 918 2,636 3,554 Operating Costs (1,060) | (2,436) (3,496) Non-recurring Costs (157) (843) (1,000) Borrowing Costs - (27) (27) Pre Tax Operating Profit/(loss)| (299) (670) (969) Foreign Exchange 1,030 164 1,194 Net Impairments reversal - 915 915 lI
Slide 5: Operating Cash Flow
Operating Cash Flow Year to 30 June 2015 $000 Cash Balance 1 July 2014 14,535 Investment income 2,138 Investment realisations 14,506 New investments (24,292) Operating Costs (3,774) Dividends paid (208) Placement of shares 500 On market Share Buy-Back (572) Cash Balance 30 June 2015 2,883 Average Ca
Slide 6: Balance Sheet
Balance Sheet June 2015 $000 Investments 18,846 Historical investments 17,585 Cash 2,833 Other Assets 3,462 Liabilities (10,368) Shareholders’ Funds 32,358 30 June 2015 NAV: $0.203 per share 31 July 2015 NAV (unaudited): $0.203 per share Shareholders’ funds were $32.358 million as at 30 June 2015, w
Slide 7: Investments and Cash
Investments and Cash 30 June 2015 Total investments $39.264m Funds Insurance Management " 0% e Infrastructure 17% Private Equity 17% Listed Equity 37% At 30 June 2015, the total book value of Keybridge’s assets was $39.264 million, consisted: * Listed Equity 37%, includes strategic stakes in PTB, Mo
Slide 8: Core Business Investments: Listed Equity
Core Business Investments Listed Equity = Total book value $14.3 million as at 30 June 2015, with significant shareholdings being: — a 17.79% stake in Molopo, which has sold all of its oil and gas exploration and production, and is now cash backed — a19.99% investmentin Hasting High Yield Fund, now
Slide 9: Core Business Investments: Funds Management
Core Business Investments Funds Management = Total book value $3.5 million as at 30 June 2015 — On 27 March 2015 Keybridge completed the acquisition of Aurora Funds Management for $3.797 million plus $2.44 million of net tangible assets (largely cash) — Aurorais the Responsible Entity and Investment
Slide 10: Core Business Investments: Insurance
Core Business Investments Insurance = Total book value A$3.1 million as at 30 June 2015 — On 28 August 2014 Keybridge invested NZD3.8 million into Foundation Life Holdings (FLH) — The investmentis structured to earn ongoing interest at 9% per annum, payable at the end of FLH’s financial year, plus s
Slide 11: Historical Investments: Infrastructure
Historical Investments Infrastructure * Solar facility in Spain - Total book value $6.7 million as at 30 June 2015: — Plant operating at full capacity — Spanish regulatory changes are now in place, which caps revenue — EUR0O.8 million in repayments received for 2015 " Infrastructure: Total book valu
Slide 12: Historical Investments: Private Equity
Historical Investments Private Equity * Total book value $6.5 million as at 30 June 2015 — Investment in US limited liability company which holds units in private equity fund — Loan accrues interest at 14.5% per annum — Investment value increase due to decline of the Australian Dollar against the US
Slide 13: Historical Investments: Property
Historical Investments Property = Total book value $2.2 million as at 30 June 2015. — In September 2014, Keybridge took direct control of the last two loans that were held in a fund run by Ashe Morgan, which invested in first ranking mortgage loans over commercial properties — During the year one of
Slide 14: Management and Board
Management and Board = Five personnel in Keybridge management team = Keybridge Board consists of three non-executive directors and two executive directors = Twelve personnel in Aurora Funds Management team = Aurora Funds Management Board consists of three executive directors Keybridge’s focus is to
Slide 15: Outlook
Outlook = Keybridge’s focus is to continue to grow its Aurora business and its funds under management more generally = Keybridge will also maintain its program of managing or selling off its historical assets with a view to maximising shareholder value = Other non-core assets will be managed to maxi
Slide 16: Contact
Contact Nicholas Bolton Managing Director (02) 8622 6692 or 0416 606 899 nbolton@keybridge.com.au 16 Thank you for your time today. If you have any follow-up questions, please contact me directly. 16