Boart Longyear — Shareholder Meeting (May 2022)
58 slides from Boart Longyear's shareholder meeting presentation, May 25, 2022
Slide 1: ASX Announcement: AGM and Special Meeting Presentation
Boart Longyear Group Ltd. Incorporated under the laws of Ontario, Canada Ontario Corporation No. 002854330 ARBN 652 848 103 ASX ANNOUNCEMENT (ASX:BLY) 25 May 2022 BOART LONGYEAR ANNUAL GENERAL AND SPECIAL MEETING PRESENTATION Please find attached for release to the market, the AGM presentation, incl
Slide 2: 2022 Annual General and Special Meeting
2022 Annual General and Special Meeting 25 May 2022 TruGyro™
Slide 3: Chairman's Welcome
Chairman’s Welcome Longyear Diamond Exploration Drill Bits
Slide 4: Introduction of Directors
Introduction of Directors Rubin McDougal Jeff Olsen Tye Burt Lars Engström Chair President and CEO Paul McDonnell Thomas Schulz Conor Tochilin Bao Truong 3 | See page 27 for footnote descriptions
Slide 5: Agenda
Agenda HM60 Production Tools
Slide 6: President and CEO's Address
President and CEO’s Address Jeff Olsen Boart Longyear’s Polish manufacturing team celebrate completing their largest order ever
Slide 7: Important Notice and Disclaimer
Important Notice and Disclaimer This presentation has been prepared by Boart Longyear Group, ARBN 652 848 103 (Boart Longyear or the Company). It contains general information about the Company’s activities as at the date of the presentation. It is information given in summary form and does not purpo
Slide 8: Unique Industry Leader, Diverse Revenue Mix, Revolutionary Technology Platform
Boart Longyear: Unique Industry Leader, Diverse Revenue Mix, Revolutionary Technology Platform Unique integrated provider of best-in-class drilling services, products, and technology offerings with a global footprint and strong balance sheet Diverse revenue mix providing exposure to most-attractive
Slide 9: Exploration Investment Expanding to Meet Surging Demand
Exploration Investment Expanding to Meet Surging Demand Pipeline Activity Index, January 2020 – February 2022 Project Drilling Activity by Commodity, February 2020 – March 2022 Source: S&P Global Market Intelligence as of January 31, 2022 Source: S&P Global Market Intelligence as of 5 April 2022. PG
Slide 10: Energy Transition Continues to Drive Strong Mineral Demand
Energy Transition Continues to Drive Strong Mineral Demand Annual Solar Electric Vehicle Sales (mm)1 Photovoltaic Capacity Addition (GW)2 Annual Wind Capacity Addition (GW) 72.0 320 160 276 146 108 40.6 196 150 84 66 60 105 50 4.3 2020 2030 2040 2015 2020 2030 2040 2030 2040 2015 2019 2030 2040 2030
Slide 11: Strong Operational and Financial Performance During 2021
Strong Operational and Financial Performance During 2021 40% 40% 87% LTIR1 REVENUE ADJ. EBITDA2 FY’21 0.06 vs. FY’20 0.10 FY’21 $921M vs. FY’20 $657M FY’21 $112M vs. FY’20 $60M Critical Risk Management and refocusing Volume and price growth across all regions Volume and price growth as well as on EH
Slide 12: GDS Revolutionising Industry with Disruptive Technology
GDS Revolutionising Industry with Disruptive Technology GDS unlocks more value from Giving Boart Longyear competitive every dollar spent on drilling strengths Cost savings Leader in digitised drilling Improved accuracy Platform for long-term growth Faster results Continuous revenue strea
Slide 13: Creating a Sustainable Future for Our Stakeholders
Creating a Sustainable Future for Our Stakeholders ESG Highlights for 2021 Reported a global safety incidence rate of 1.31 per 200,000 hours worked, a 19% improvement from the already-low rate of 1.61 in 2020. Recognised 20 years free of lost-time incidents in our Jakarta, Indonesia operations.
Slide 14: Continuing Financial Momentum in Q1'22
Continuing Financial Momentum in Q1’22 $261M $37M $19M REVENUE ADJ. EBITDA NPAT* + 25% vs. Q1’21 $209M + 42% vs. Q1’21 $26M +290% vs. Q1’21 ($10)M Robust growth across Drilling Services Strong demand resulting in price and Impacted by strong performance and Products volume growth $179M $82M DRILLING
Slide 15: Growth Opportunities for 2022
Growth Opportunities for 2022 Growth Opportunities Revenue Volume expansion Competitive pricing Global mining sector Expect strong growth Dynamic GDS adoption expected to continue from increased EBITDA surging investment in customer demand for Volume growth exploration drilling, equipment,
Slide 16: Investment Highlights
Investment Highlights 1 Vertically Integrated Industry Leader with Differentiated Offerings Providing Competitive Advantages 2 Unique Integrated Provider of Best-in-Class Drilling Services, Products and Technology Offerings 3 Diverse Revenue Mix Providing Exposure to Most-Attractive Geographies and
Slide 17: Questions
Qe soarr TW Lonovear
Slide 18: Voting Procedure
Voting Procedure LF160™
Slide 19: Consideration of Consolidated Financial Statements and Auditor's Report
Consideration of Consolidated Financial Statements and Independent Auditor's Report for year ended 31 December 2021 18 | 2022 Annual General and Special Meeting
Slide 20: Resolutions
Resolutions LF™ 160
Slide 21: Resolution 1: Re-election of Rubin McDougal
2022 Annual General and Special Meeting - Resolution 1 Re-election of Rubin McDougal "That, for the purpose of clause 6 of the By-laws of the Company, ASX Listing Rule 14.4 and for all other purposes, Rubin McDougal retires and being eligible, offers himself for election and is re-elected as a Direc
Slide 22: Proxy Results
2022 Annual General and Special Meeting – Proxy Results Resolution 1 For Withhold Re-election of Rubin McDougal Proxies Received 220,173,449 4,193 21 | 2022 Annual General and Special Meeting
Slide 23: Resolution 2: Re-election of Jeffrey Olsen
2022 Annual General and Special Meeting - Resolution 2 Re-election of Jeffrey Olsen "That, for the purpose of clause 6 of the By-laws of the Company and all other purposes, Jeffrey Olsen retires and being eligible, offers himself for election and is re-elected as a Director of the Company." 22 | 202
Slide 24: Proxy Results
2022 Annual General and Special Meeting – Proxy Results Resolution 2 For Withhold Re-election of Jeffrey Olsen Proxies Received 220,173,446 4,193 23 | 2022 Annual General and Special Meeting
Slide 25: Resolution 3: Re-election of Tye Burt
2022 Annual General and Special Meeting - Resolution 3 Re-election of Tye Burt "That, for the purpose of clause 6 of the By-laws of the Company, ASX Listing Rule 14.4 and for all other purposes, Tye Burt retires and being eligible, offers himself for election and is re-elected as a Director of the C
Slide 26: Proxy Results
2022 Annual General and Special Meeting – Proxy Results Resolution 3 For Withhold Re-election of Tye Burt Proxies Received 220,173,459 4,193 25 | 2022 Annual General and Special Meeting
Slide 27: Resolution 4: Re-election of Conor Tochilin
2022 Annual General and Special Meeting - Resolution 4 Re-election of Conor Tochilin "That, for the purpose of clause 6 of the By-laws of the Company, ASX Listing Rule 14.4 and for all other purposes, Conor Tochilin retires and being eligible, offers himself for election and is re-elected as a Direc
Slide 28: Proxy Results
2022 Annual General and Special Meeting – Proxy Results Resolution 4 For Withhold Re-election of Conor Tochilin Proxies Received 220,173,452 4,193 27 | 2022 Annual General and Special Meeting
Slide 29: Resolution 5: Re-election of Lars Engström
2022 Annual General and Special Meeting - Resolution 5 Re-election of Lars Engström "That, for the purpose of clause 6 of the By-laws of the Company, ASX Listing Rule 14.4 and for all other purposes, Lars Engström retires and being eligible, offers himself for election and is re-elected as a Directo
Slide 30: Proxy Results
2022 Annual General and Special Meeting – Proxy Results Resolution 5 For Withhold Re-election of Lars Engström Proxies Received 220,173,437 4,193 29 | 2022 Annual General and Special Meeting
Slide 31: Resolution 6: Re-election of Paul McDonnell
2022 Annual General and Special Meeting - Resolution 6 Re-election of Paul McDonnell "That, for the purpose of clause 6 of the By-laws of the Company, ASX Listing Rule 14.4 and for all other purposes, Paul McDonnell retires and being eligible, offers himself for election and is re-elected as a Direc
Slide 32: Proxy Results
2022 Annual General and Special Meeting – Proxy Results Resolution 6 For Withhold Re-election of Paul McDonnell Proxies Received 220,173,452 4,193 31 | 2022 Annual General and Special Meeting
Slide 33: Resolution 7: Re-election of Thomas Schulz
2022 Annual General and Special Meeting - Resolution 7 Re-election of Thomas Schulz "That, for the purpose of clause 6 of the By-laws of the Company, ASX Listing Rule 14.4 and for all other purposes, Thomas Schulz retires and being eligible, offers himself for election and is re-elected as a Directo
Slide 34: Proxy Results
2022 Annual General and Special Meeting – Proxy Results Resolution 7 For Withhold Re-election of Thomas Schulz Proxies Received 220,173,452 4,193 33 | 2022 Annual General and Special Meeting
Slide 35: Resolution 8: Re-election of Bao Truong
2022 Annual General and Special Meeting - Resolution 8 Re-election of Bao Truong "That, for the purpose of clause 6 of the By-laws of the Company, ASX Listing Rule 14.4 and for all other purposes, Bao Truong retires and being eligible, offers himself for election and is re-elected as a Director of t
Slide 36: Proxy Results
2022 Annual General and Special Meeting – Proxy Results Resolution 8 For Withhold Re-election of Bao Truong Proxies Received 220,173,437 4,193 35 | 2022 Annual General and Special Meeting
Slide 37: Resolution 9: Re-appointment of Auditor
2022 Annual General and Special Meeting - Resolution 9 Re-appointment of Auditor “To re-appoint Deloitte Touche Tohmatsu as the independent auditor of the Company, to hold office until the next annual general and special meeting of Shareholders and to authorise the Directors to set the auditor's rem
Slide 38: Proxy Results
2022 Annual General and Special Meeting – Proxy Results Resolution 9 For Withhold Re-appointment of Auditor Proxies Received 220,173,669 3,989 37 | 2022 Annual General and Special Meeting
Slide 39: Resolution 10: Issue of Securities under Non-Executive Director Share Plan
2022 Annual General and Special Meeting - Resolution 10 Approval of the Issue of Securities to Non-Executive Directors under Non-Executive Director Share Plan Resolution Voting exclusion "That, for the purposes of ASX Listing Rule 10.14 and all other purposes, approval is The Company will disregard
Slide 40: Proxy Results
2022 Annual General and Special Meeting – Proxy Results Resolution 10 For Against Approval of the Issue of Securities to Non-Executive Directors under Non-Executive Director Share Plan Proxies Received 220,159,974 14,628 39 | 2022 Annual General and Special Meeting
Slide 41: Resolution 11: Issue of Securities under Non-Executive Director DSU Plan
2022 Annual General and Special Meeting - Resolution 11 Approval of the Issue of Securities to Non-Executive Directors under Non-Executive Director DSU Plan Resolution Voting exclusion "That, for the purposes of ASX Listing Rule 10.14 and all other purposes, approval is The Company will disregard an
Slide 42: Proxy Results
2022 Annual General and Special Meeting – Proxy Results Resolution 11 For Against Approval of the Issue of Securities to Non-Executive Directors under Non-Executive Director DSU Plan Proxies Received 220,159,975 14,627 41 | 2022 Annual General and Special Meeting
Slide 43: Resolution 12: Approval of Management Incentive Plan
2022 Annual General and Special Meeting - Resolution 12 Approval of Management Incentive Plan Resolution Voting exclusion "That, for the purposes of ASX Listing Rule 7.2 Exception 13 and for all other purposes, The Company will disregard any votes cast in favour of Resolution 12 by or on behalf of a
Slide 44: Proxy Results
2022 Annual General and Special Meeting – Proxy Results Resolution 12 For Against Approval of Management Incentive Plan Proxies Received 220,165,806 13,446 43 | 2022 Annual General and Special Meeting
Slide 45: Resolution 13: Approval of Long Term Incentive Plan
2022 Annual General and Special Meeting - Resolution 13 Approval of Long Term Incentive Plan Resolution Voting exclusion "That, for the purposes of ASX Listing Rule 7.2 Exception 13 and for all other purposes, The Company will disregard any votes cast in favour of Resolution 13 by or on behalf of th
Slide 46: Proxy Results
2022 Annual General and Special Meeting – Proxy Results Resolution 13 For Against Approval of Long Term Incentive Plan Proxies Received 220,165,807 13,445 45 | 2022 Annual General and Special Meeting
Slide 47: Resolution 14: Options and RSUs to Jeffrey Olsen
2022 Annual General and Special Meeting - Resolution 14 Approval of the Issue of Options and Restricted Stock Units to Jeffrey Olsen, President and Chief Executive Officer, under the Management Incentive Plan Resolution Voting exclusion "That, for the purposes of ASX Listing Rule 10.14 and for all o
Slide 48: Proxy Results
2022 Annual General and Special Meeting – Proxy Results Resolution 14 For Against Approval of the Issue of Options and Restricted Stock Units to Jeffrey Olsen, President and Chief Executive Officer, under the Management Incentive Plan Proxies Received 220,166,095 14,455 47 | 2022 Annual General and
Slide 49: Resolution 15: Performance Stock Units to Jeffrey Olsen
2022 Annual General and Special Meeting - Resolution 15 Approval of the Issue of Performance Stock Units to Jeffrey Olsen, President and Chief Executive Officer, under the Long Term Incentive Plan Resolution Voting exclusion "That, for the purposes of ASX Listing Rule 10.14 and for all other purpose
Slide 50: Proxy Results
2022 Annual General and Special Meeting – Proxy Results Resolution 15 For Against Approval of the Issue of Performance Stock Units to Jeffrey Olsen, President and Chief Executive Officer, under the Long Term Incentive Plan Proxies Received 220,166,096 14,454 49 | 2022 Annual General and Special Meet
Slide 51: Questions
Questions
Slide 52: If you are a duly appointed proxyholder, please vote now
If you are a duly appointed proxyholder, please vote now 51 | 2022 Annual General and Special Meeting
Slide 53: The Annual General and Special Meeting is now closed
The Annual General and Special Meeting is now closed 52 | 2022 Annual General and Special Meeting
Slide 54: President & CEO's address (script)
President & CEO's address • Thank you, Rubin. • It’s a pleasure to share with you the state of the business. The company is in a very different position today than it was when I addressed shareholders last year. • Given the macroeconomic environment that is driving the mining industry combined with
Slide 55: Exploration investment expanding to meet surging demand (script)
Exploration investment expanding to meet surging demand • I think it’s important to provide some context around the economic environment that is driving demand for metals and the basis for growth we anticipate at Boart Longyear. • In 2021, the mining industry recovery from COVID was better than many
Slide 56: 2021 results and GDS (script)
• During 2021, we saw price and volume growth across all our operating regions leading to a 40% increase in revenue and an 87% expansion in adjusted EBITDA. • As the result of our recapitalisation, net debt dropped 81%, • Due to our strong performance and right-sized balance sheet, liquidity improve
Slide 57: Equipment and ESG accomplishments (script)
• Our equipment leads to more resource recovery. • Not only is our technology appealing to a new generation of mining talent, but the equipment is more accessible due to automation and remote capabilities that don’t require physical strength for success. This enables a gender-diverse workforce and g
Slide 58: EBITDA growth and investment highlights (script)
• Similar to revenue, we see EBITDA growth opportunities from price and volume growth as well as the impact of GDS as customers start to leverage our technology. • All told, I’m quite optimistic for a strong year. Over the last several years, we have put considerable effort into improving and streng
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