Slide 1: Faster, more accurate gold analysis
For personal use only Faster, more accurate gold analysis Investor Presentation May 2022
Slide 2: Important notice
Important notice For personal use only The material in this presentation has been prepared by Chrysos Corporation Limited (ASX: C79) (“Chrysos” or the “Company") and is general background information about Chrysos’ current activities as at the date of this presentation. The information is given in s
Slide 3: About Chrysos
For personal use only About Chrysos [Insert]
Slide 4: Who is Chrysos?
Who is Chrysos? Chrysos Corporation Limited is an Australian-based provider of novel assay services through its For personal use only proprietary PhotonAssay technology Chrysos at a glance Chrysos PhotonAssay™ technology was originally developed by Australia’s national science agency, CSIRO. It repr
Slide 5: The Chrysos vision
The Chrysos vision To become the world’s leading provider of innovative assay services and technologies For personal use only Market Challenge: Traditional assay techniques are slow, labour intensive, complex, destructive to the assay sample, and involve Fully-quantitative analysis in as little as 2
Slide 6: PhotonAssay technology
PhotonAssay technology Best in class gold assaying with measurable benefits over incumbent methods For personal use only PhotonAssay vs. Traditional Fire Assay1 PhotonAssay value proposition Fire Assay PhotonAssay Faster turnaround Lower costs Simple to operate Results in as little as 2 minutes Time
Slide 7: Our commercialisation journey
Our commercialisation journey The product of +20 years of research and development For personal use only Prototype Complete JORC and NI43-101 New Customer Announcements 1st PhotonAssay Max unit Companies cite PhotonAssay data Barrick Bulyanhulu in Tanzania contracts in market announcements MSALABS a
Slide 8: Business Highlights
For personal use only Business Highlights [Insert]
Slide 9: Business highlights
Business highlights Revolutionising the global mining industry by providing disruptive assay technology and solutions For personal use only 1 Large, unpenetrated TAM underpinned by non-discretionary spend 2 Highly disruptive technology with proven economic, environmental and safety benefits for mine
Slide 10: Large & unpenetrated TAM
1 Large & unpenetrated TAM Assay expenditure is a non-discretionary operating cost For personal use only Existing PhotonAssay Reach TAM for PhotonAssay Units Annual revenue of ~A$988m1 700 610 Units 600 500 PhotonAssay Unit 410 On-site 400 Laboratories +572 Units Units 300 200 Off-site 100 200 Labor
Slide 11: Delivering tangible benefits for miners
2 Delivering tangible benefits for miners PhotonAssay enables timely decision making and additional gold recovery For personal use only The opportunity… PhotonAssay is embedded in the mining value chain PhotonAssay Value Add ■ Each year global miners are Exploration Fast turnaround for mine estimate
Slide 12: An environmentally-friendly solution
2 An environmentally-friendly solution Substantially better for the environment and significantly safer than the incumbent fire assay method For personal use only PhotonAssay has a substantial positive environmental impact that will continue to grow in tandem with the uptake of the technology ✓ Phot
Slide 13: Attractive customer value proposition
3 Attractive customer value proposition Validated by existing customers including 3 of the 4 largest labs and, 2 of the 3 largest gold miners by For personal use only market capitalisation globally Example customers Value proposition Higher volume, improved efficiency Intertek SGS ALS 1 Reduced prep
Slide 14: Scalable business model
4 Scalable business model Underpinned by long-term infrastructure-like recurring revenue For personal use only Advantages of Chrysos’ strategic revenue model Total Contract Value1 ■ Typically structured as long-term leases (5+5) with a guaranteed annual minimum and upside leverage to assay volumes ■
Slide 15: High barriers to entry
5 High barriers to entry High barriers to entry supported by global IP rights For personal use only Barriers to entry Long-term leases with Protected by global IP guaranteed minimums, rights embedded at customer site +20 years of R&D and Superior product to the investment in technology alternative 1
Slide 16: Clear growth pathway
6 Clear growth pathway Clear organic growth plan with potential to expand TAM through additional commodities For personal use only Business development pipeline Multi-commodity assaying ■ Global networks of laboratories Potential to expand TAM Potential to increase profitability ■ Base metals Add-on
Slide 17: Experienced management team
7 Experienced management team Supported by a well respected and tenured board For personal use only Management team Board of Directors Dirk Treasure Kerry Gleeson Founding CEO & Managing Director Rob Adamson Director • Metallurgist with a background in both Founder & Chairman • Experienced executive
Slide 18: Financial Information
For personal use only Financial Information [Insert]
Slide 19: Financial highlights
Financial highlights Attractive unit economics underpinned by recurring, contracted revenue For personal use only 1 Strong growth in units deployed and contracted orders extending out until 2024 2 Recurring revenue model with ~80% of forecast revenue contracted 3 Strong gross margins drive attractiv
Slide 20: Recurring, contracted revenue
Recurring, contracted revenue ~80% of revenue in forecast period is contracted providing high degree of visibility For personal use only Pro forma forecast revenue bridge Commentary % Revenue growth % ■ 5 new units deployed in FY22 and further 10 units expected to be deployed in FY23 driving 35,000
Slide 21: Attractive unit economics
Attractive unit economics Robust baseline returns with significant upside from higher utilisation For personal use only Illustrative worked example of unit economics Attractive baseline return on invested capital (“ROIC”)3 80.0% Average of All Contracts Assumptions Illustrative example 70.0% Upfront
Slide 22: Utilisation trending higher
Utilisation trending higher Average utilisation is trending higher, driving invoiced revenue above the MMAP and higher returns For personal use only Average utilisation is trending higher Driving invoiced revenue over the MMAP (FY22 YTD)1 100.0% Average Utilisation Samples Processed - Monthly 200 MM
Slide 23: Investment for growth
Investment for growth Investment in headcount and admin to support accelerated unit deployment and global expansion For personal use only Pro forma historical and forecast profit and loss Commentary A$000’s FY20 FY21 FY22 FY23 A■ Significant growth in employee expenses as the Revenue and other incom
Slide 24: Cash flow summary
Cash flow summary Leasing model results in large cash deficit upfront driven by capex relating to new units For personal use only Pro forma historical and forecast cash flow summary Commentary $000’s FY21A FY22F FY23F ■ Positive cash flow at the operating line offset by growth capex EBITDA (692) 925
Slide 25: Thank you
For personal use only Thank you For more information, please visit chrysos.com.au or contact us at investors@chrysos.com.au